Johnson & Johnson
JNJ - Insider Information
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+ FollowMarket Cap$676.43B
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Earnings Call Q3 2026
October 13, 2026 - AI Summary
Strong Q3 momentum; confidence in hitting 2026 targets + first-time $100B run-rate goal
- Q3 sales: $25.4B, +6% operational growth (U.S. +9.1%, outside U.S. +1.8%); sequential improvement vs Q2.
- Full-year revenue outlook: J&J says it is on track to exceed $100B in annual revenue for the first time in company history.
- Strategic engine: Management reiterated focus on 6 oncology/immunology/neuroscience + cardiovascular surgery ambition areas and highlighted that 29 products/platforms generate ≥$1B.
Innovative Medicine driving the outperformance; MedTech lagging expectations
- Q3 Innovative Medicine sales: $16.8B, +7.9%.
- Key growth examples: Oncology (multiple myeloma brands strong; DARZALEX +15.6%, PRAVYCTI +35.2%, TECVAYLI +77.3%; lung cancer RYBREVANT +64%), Immunology (Tremfya +68%), Neuroscience (Spravato +36%, Caplyta +66%).
- Q3 MedTech sales: $8.6B, +2.5% (operational); management explicitly said it fell short of expectations, especially cardiovascular and surgery outside the U.S., while arguing fundamentals remain strong.
2026 guidance raised (and tightened): operational growth ~high-single-digit; EPS modest growth
- 2026 operational sales growth (raised): 6.7% to 7.1% (midpoint growth ~6.9%), targeting ~$100.7B operational sales at midpoint; FX not speculative.
- Reported growth implication: Management estimates reported growth ~7.2% to 7.6% (midpoint ~7.4%), based on euro assumptions.
- 2026 EPS outlook: Adjusted operational EPS $10.95–$11.05 (2% at midpoint); reported adjusted EPS $11.05–$11.15 (midpoint $11.10, ~+2.9%).
- Margin outlook: expects operating margin decline ~60 bps (improved from prior 75 bps decline in July, which included deal-related headwinds).
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$254.55
7.9% downside
Current Fair Value
7.9% downsideOvervalued by 7.9% based on the discounted cash flow analysis.
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Share Statistics
| Market cap | $676.43 Billion |
|---|---|
| Enterprise Value | $676.43 Billion |
| Annual dividend | $5.28 |
| Dividend yield | 1.93% |
| Earnings per Share | $11.03 |
| Beta | 0.24 |
| Outstanding Shares | 2,447,552,000 |
Return
| Return on Equity | 18.95% |
|---|---|
| Return on Assets | NaN% |
| Return on Invested Capital | NaN% |
Valuation & Multiples
| P/E Ratio | 41.42 |
|---|---|
| PEG | -43.22 |
| Price to Sales | 6.91 |
| Price to Book Ratio | 8.13 |
| Enterprise Value to Revenue | 6.77 |
| Enterprise Value to EBIT | 29.99 |
| Enterprise Value to Net Income | 42 |
| Total Debt to Enterprise | 0 |
| Debt to Equity | 0 |
Revenue Sources
No data
Last Earnings Call
Report Date
October 13, 2026
EPS Estimate
$2.52
Consensus analyst estimateRevenue Estimate
$25.38 B
Consensus analyst estimateNext Earnings Call
Expected Date
January 20, 2027
EPS Estimate
$2.91
Consensus analyst estimateRevenue Estimate
$26.41 B
Consensus analyst estimateInstitutional Put/Call Ratio
Compares institutional put options with call options. At 4.41, the ratio is above 1, so institutions hold more puts than calls. That is a more cautious stance.
| Put/Call Ratio | 4.4071▲ 324.27% |
|---|---|
| Total Calls | 13,501▼ 99.92% |
| Total Puts | 59,500▼ 99.70% |
Institutional Ownership
Holdings and activity of institutional investors.
| Ownership % | 4.67%▼ 69.83% |
|---|---|
| Total Invested | $30.05B▼ 93.49% |
| Investors Holding | 2,229▼ 2585.00% |
About Johnson & Johnson
138,200 employees
CEO: Alex Gorsky
At Johnson & Johnson, we believe good health is the foundation of vibrant lives, thriving communities and forward progress. That’s why for more than 130 years, we have aimed to keep people well at every age and every stage of life. Today...