NYSE · JNJ
Johnson & Johnson
Healthcare · Drug Manufacturers - General
$258.45▲ 1.44% ($3.67)at close
After hours$257.80▼ 0.25%7:57 PM ET
Market cap
$622.84B
P/E
29.98
EPS (TTM)
$8.62
Next earnings
Oct 13, 2026
Valuation
Cash-flow DCF
Verdict: fairly priced. Price above Base.
The price needs 7.0% free cash flow growth a year for 5 years. Our scenarios assume −11.1–11.1%.
Its past 10 years averaged −3.9% a year.
Value per share
Base case
$153.85
Price used $258.45 is 1.7× this
USD · TTM ending Jun 28, 2026 · Price Oct 7, 8:00 PM UTC
FCFF base normalized by replacing latest capex with the company's trailing median capex-to-revenue ratio.
2 more notes
Historical FCFF CAGR and the default growth rates are taken from the raw historical series. The valuation base is normalized for the current-period DCF.
Market beta (0.23) is below the minimum default of 0.5 — short lookback windows can understate systematic risk. Beta floored at 0.5 for default assumptions; adjust manually if needed.
Free cash flow each value needs
Free cash flow today $24.1B. The price needs $40.2B by 2036. Base case: $23.5B. At its recent pace: $16.3B. Bear to Bull: $15.9B to $55.1B.
Free cash flow today $24.1B. The price needs $40.2B by 2036. Base case: $23.5B. At its recent pace: $16.3B. Bear to Bull: $15.9B to $55.1B.
Free cash flow in 2036
today $24.1B
+$16.6Bmore than the Base case · 1.7×
Value per share · Base case
$153.85
Price $258.45
1.7× this
- Stage 1 growth, yrs 1–5
- −3.9%
- Stage 2 growth, yrs 6–10
- 3.5%
- Discount rate
- 7.6%
FCFF base normalized by replacing latest capex with the company's trailing median capex-to-revenue ratio.
2 more notes
Historical FCFF CAGR and the default growth rates are taken from the raw historical series. The valuation base is normalized for the current-period DCF.
Market beta (0.23) is below the minimum default of 0.5 — short lookback windows can understate systematic risk. Beta floored at 0.5 for default assumptions; adjust manually if needed.
USD · TTM ending Jun 28, 2026 · Price Oct 7, 8:00 PM UTC
What each scenario assumes. Click a column to start from it.
Price vs Fundamentals
Why The Stock Is Moving
What changed
The stock rose 36.83% over the last year. Revenue grew 8.06% over the trailing twelve months. Operating margin moved from 24.53% to 26.81%. Free cash flow grew 14% over the trailing twelve months.
What the market seems to be pricing
The stock is trading toward the richer end of its historical P/FCF range (100th percentile) while business metrics are improving. More of the upside is already embedded in the multiple now.
What would invalidate this read
Operating margin is at 26.81% — continued expansion would be needed to justify the premium. Revenue growth of 8.06% is encouraging, but any deceleration puts the stretched multiple at risk. This read changes if revenue, margins, and cash flow continue to improve faster than expected — in that case the richer multiple could still prove conservative.
Return analysis
Company profile
Johnson & Johnson is a holding company, which engages in the research, development, manufacture, and sale of products in the healthcare field.
Market multiples
Stock splits
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Profitability & growth
Analyst consensus
21
Buy
16
Hold
3
Sell
Analyst ratings tend to be lagging indicators. Use as one signal among many.
Earnings
Full quarter-by-quarter history of actuals vs estimates. Switch into compare mode to inspect one metric year-over-year.
Next report
Oct 13, 2026
Q3 FY26 · EPS est $2.67 · Revenue est $25.38B
View
Institutional Sentiment
Johnson & Johnson · JNJ
From Form 13F filings (managers with $100M+). Filings land up to 45 days after quarter end — read this as positioning context, not live fund flow.