Analysis of Reportable Segments
Johnson & Johnson operates in 2 segments: Innovative Medicine and MedTech.
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- Income Statement
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- Analysis of Liquidity Ratios
- Analysis of Solvency Ratios
- Analysis of Long-term (Investment) Activity Ratios
- Common Stock Valuation Ratios
- Enterprise Value to EBITDA (EV/EBITDA)
- Price to FCFE (P/FCFE)
- Return on Assets (ROA) since 2005
- Total Asset Turnover since 2005
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Segment Profit Margin
Johnson & Johnson, profit margin by reportable segment
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 29, 2019 | |
|---|---|---|---|---|---|
| Innovative Medicine | |||||
| MedTech |
Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-29).
| Segment profitability ratio | Reportable segment | The company |
|---|---|---|
| Segment profit margin | Innovative Medicine | Innovative Medicine segment profit margin ratio deteriorated from 2021 to 2022 but then improved from 2022 to 2023 exceeding 2021 level. |
| MedTech | MedTech segment profit margin ratio improved from 2021 to 2022 but then deteriorated significantly from 2022 to 2023. |
Segment Profit Margin: Innovative Medicine
Johnson & Johnson; Innovative Medicine; segment profit margin calculation
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 29, 2019 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Income (loss) before tax | |||||
| Sales to customers | |||||
| Segment Profitability Ratio | |||||
| Segment profit margin1 | |||||
Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-29).
1 2023 Calculation
Segment profit margin = 100 × Income (loss) before tax ÷ Sales to customers
= 100 × ÷ =
| Segment profitability ratio | Reportable segment | The company |
|---|---|---|
| Segment profit margin | Innovative Medicine | Innovative Medicine segment profit margin ratio deteriorated from 2021 to 2022 but then improved from 2022 to 2023 exceeding 2021 level. |
Segment Profit Margin: MedTech
Johnson & Johnson; MedTech; segment profit margin calculation
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 29, 2019 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Income (loss) before tax | |||||
| Sales to customers | |||||
| Segment Profitability Ratio | |||||
| Segment profit margin1 | |||||
Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-29).
1 2023 Calculation
Segment profit margin = 100 × Income (loss) before tax ÷ Sales to customers
= 100 × ÷ =
| Segment profitability ratio | Reportable segment | The company |
|---|---|---|
| Segment profit margin | MedTech | MedTech segment profit margin ratio improved from 2021 to 2022 but then deteriorated significantly from 2022 to 2023. |
Segment Return on Assets (Segment ROA)
Johnson & Johnson, ROA by reportable segment
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 29, 2019 | |
|---|---|---|---|---|---|
| Innovative Medicine | |||||
| MedTech |
Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-29).
| Segment profitability ratio | Reportable segment | The company |
|---|---|---|
| Segment ROA | Innovative Medicine | Innovative Medicine segment ROA improved from 2021 to 2022 and from 2022 to 2023. |
| MedTech | MedTech segment ROA deteriorated from 2021 to 2022 and from 2022 to 2023. |
Segment ROA: Innovative Medicine
Johnson & Johnson; Innovative Medicine; segment ROA calculation
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 29, 2019 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Income (loss) before tax | |||||
| Identifiable assets | |||||
| Segment Profitability Ratio | |||||
| Segment ROA1 | |||||
Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-29).
1 2023 Calculation
Segment ROA = 100 × Income (loss) before tax ÷ Identifiable assets
= 100 × ÷ =
| Segment profitability ratio | Reportable segment | The company |
|---|---|---|
| Segment ROA | Innovative Medicine | Innovative Medicine segment ROA improved from 2021 to 2022 and from 2022 to 2023. |
Segment ROA: MedTech
Johnson & Johnson; MedTech; segment ROA calculation
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 29, 2019 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Income (loss) before tax | |||||
| Identifiable assets | |||||
| Segment Profitability Ratio | |||||
| Segment ROA1 | |||||
Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-29).
1 2023 Calculation
Segment ROA = 100 × Income (loss) before tax ÷ Identifiable assets
= 100 × ÷ =
| Segment profitability ratio | Reportable segment | The company |
|---|---|---|
| Segment ROA | MedTech | MedTech segment ROA deteriorated from 2021 to 2022 and from 2022 to 2023. |
Segment Asset Turnover
Johnson & Johnson, asset turnover by reportable segment
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 29, 2019 | |
|---|---|---|---|---|---|
| Innovative Medicine | |||||
| MedTech |
Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-29).
| Segment activity ratio | Reportable segment | The company |
|---|---|---|
| Segment asset turnover | Innovative Medicine | Innovative Medicine segment asset turnover ratio improved from 2021 to 2022 and from 2022 to 2023. |
| MedTech | MedTech segment asset turnover ratio deteriorated from 2021 to 2022 but then slightly improved from 2022 to 2023. |
Segment Asset Turnover: Innovative Medicine
Johnson & Johnson; Innovative Medicine; segment asset turnover calculation
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 29, 2019 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Sales to customers | |||||
| Identifiable assets | |||||
| Segment Activity Ratio | |||||
| Segment asset turnover1 | |||||
Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-29).
1 2023 Calculation
Segment asset turnover = Sales to customers ÷ Identifiable assets
= ÷ =
| Segment activity ratio | Reportable segment | The company |
|---|---|---|
| Segment asset turnover | Innovative Medicine | Innovative Medicine segment asset turnover ratio improved from 2021 to 2022 and from 2022 to 2023. |
Segment Asset Turnover: MedTech
Johnson & Johnson; MedTech; segment asset turnover calculation
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 29, 2019 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Sales to customers | |||||
| Identifiable assets | |||||
| Segment Activity Ratio | |||||
| Segment asset turnover1 | |||||
Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-29).
1 2023 Calculation
Segment asset turnover = Sales to customers ÷ Identifiable assets
= ÷ =
| Segment activity ratio | Reportable segment | The company |
|---|---|---|
| Segment asset turnover | MedTech | MedTech segment asset turnover ratio deteriorated from 2021 to 2022 but then slightly improved from 2022 to 2023. |
Segment Capital Expenditures to Depreciation
Johnson & Johnson, capital expenditures to depreciation by reportable segment
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 29, 2019 | |
|---|---|---|---|---|---|
| Innovative Medicine | |||||
| MedTech |
Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-29).
| Segment financial ratio | Reportable segment | The company |
|---|---|---|
| Segment capital expenditures to depreciation | Innovative Medicine | Innovative Medicine segment capital expenditures to depreciation ratio improved from 2021 to 2022 and from 2022 to 2023. |
| MedTech | MedTech segment capital expenditures to depreciation ratio improved from 2021 to 2022 but then deteriorated significantly from 2022 to 2023. |
Segment Capital Expenditures to Depreciation: Innovative Medicine
Johnson & Johnson; Innovative Medicine; segment capital expenditures to depreciation calculation
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 29, 2019 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Additions to property, plant & equipment | |||||
| Depreciation and amortization | |||||
| Segment Financial Ratio | |||||
| Segment capital expenditures to depreciation1 | |||||
Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-29).
1 2023 Calculation
Segment capital expenditures to depreciation = Additions to property, plant & equipment ÷ Depreciation and amortization
= ÷ =
| Segment financial ratio | Reportable segment | The company |
|---|---|---|
| Segment capital expenditures to depreciation | Innovative Medicine | Innovative Medicine segment capital expenditures to depreciation ratio improved from 2021 to 2022 and from 2022 to 2023. |
Segment Capital Expenditures to Depreciation: MedTech
Johnson & Johnson; MedTech; segment capital expenditures to depreciation calculation
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 29, 2019 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Additions to property, plant & equipment | |||||
| Depreciation and amortization | |||||
| Segment Financial Ratio | |||||
| Segment capital expenditures to depreciation1 | |||||
Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-29).
1 2023 Calculation
Segment capital expenditures to depreciation = Additions to property, plant & equipment ÷ Depreciation and amortization
= ÷ =
| Segment financial ratio | Reportable segment | The company |
|---|---|---|
| Segment capital expenditures to depreciation | MedTech | MedTech segment capital expenditures to depreciation ratio improved from 2021 to 2022 but then deteriorated significantly from 2022 to 2023. |
Sales to customers
Johnson & Johnson, sales to customers by reportable segment
US$ in millions
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 29, 2019 | |
|---|---|---|---|---|---|
| Innovative Medicine | |||||
| MedTech | |||||
| Segments total |
Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-29).
Income (loss) before tax
Johnson & Johnson, income (loss) before tax by reportable segment
US$ in millions
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 29, 2019 | |
|---|---|---|---|---|---|
| Innovative Medicine | |||||
| MedTech | |||||
| Segments total |
Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-29).
Identifiable assets
Johnson & Johnson, identifiable assets by reportable segment
US$ in millions
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 29, 2019 | |
|---|---|---|---|---|---|
| Innovative Medicine | |||||
| MedTech | |||||
| Segments total |
Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-29).
Additions to property, plant & equipment
Johnson & Johnson, additions to property, plant & equipment by reportable segment
US$ in millions
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 29, 2019 | |
|---|---|---|---|---|---|
| Innovative Medicine | |||||
| MedTech | |||||
| Segments total |
Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-29).
Depreciation and amortization
Johnson & Johnson, depreciation and amortization by reportable segment
US$ in millions
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 29, 2019 | |
|---|---|---|---|---|---|
| Innovative Medicine | |||||
| MedTech | |||||
| Segments total |
Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-29).