Analysis of Reportable Segments
Johnson & Johnson operates in 2 segments: Innovative Medicine and MedTech.
Segment Profit Margin
Johnson & Johnson, profit margin by reportable segment
| Dec 29, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | |
|---|---|---|---|---|---|
| Innovative Medicine | 33.21% | 33.32% | 27.89% | 29.19% | 24.15% |
| MedTech | 11.74% | 15.36% | 16.80% | 16.16% | 13.26% |
Based on: 10-K (reporting date: 2024-12-29), 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).
| Segment profitability ratio | Reportable segment | The company |
|---|---|---|
| Segment profit margin | Innovative Medicine | Innovative Medicine segment profit margin ratio improved from 2022 to 2023 but then slightly deteriorated from 2023 to 2024. |
| MedTech | MedTech segment profit margin ratio deteriorated from 2022 to 2023 and from 2023 to 2024. |
Segment Profit Margin: Innovative Medicine
Johnson & Johnson; Innovative Medicine; segment profit margin calculation
| Dec 29, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Income (loss) before tax | 18,919) | 18,246) | 18,831) | 19,475) | 14,398) |
| Sales to customers | 56,964) | 54,759) | 67,516) | 66,715) | 59,625) |
| Segment Profitability Ratio | |||||
| Segment profit margin1 | 33.21% | 33.32% | 27.89% | 29.19% | 24.15% |
Based on: 10-K (reporting date: 2024-12-29), 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).
1 2024 Calculation
Segment profit margin = 100 × Income (loss) before tax ÷ Sales to customers
= 100 × 18,919 ÷ 56,964 = 33.21%
| Segment profitability ratio | Reportable segment | The company |
|---|---|---|
| Segment profit margin | Innovative Medicine | Innovative Medicine segment profit margin ratio improved from 2022 to 2023 but then slightly deteriorated from 2023 to 2024. |
Segment Profit Margin: MedTech
Johnson & Johnson; MedTech; segment profit margin calculation
| Dec 29, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Income (loss) before tax | 3,740) | 4,669) | 4,607) | 4,373) | 3,044) |
| Sales to customers | 31,857) | 30,400) | 27,427) | 27,060) | 22,959) |
| Segment Profitability Ratio | |||||
| Segment profit margin1 | 11.74% | 15.36% | 16.80% | 16.16% | 13.26% |
Based on: 10-K (reporting date: 2024-12-29), 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).
1 2024 Calculation
Segment profit margin = 100 × Income (loss) before tax ÷ Sales to customers
= 100 × 3,740 ÷ 31,857 = 11.74%
| Segment profitability ratio | Reportable segment | The company |
|---|---|---|
| Segment profit margin | MedTech | MedTech segment profit margin ratio deteriorated from 2022 to 2023 and from 2023 to 2024. |
Segment Return on Assets (Segment ROA)
Johnson & Johnson, ROA by reportable segment
| Dec 29, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | |
|---|---|---|---|---|---|
| Innovative Medicine | 33.15% | 31.28% | 22.82% | 21.77% | 15.40% |
| MedTech | 4.44% | 6.25% | 6.49% | 8.19% | 6.14% |
Based on: 10-K (reporting date: 2024-12-29), 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).
| Segment profitability ratio | Reportable segment | The company |
|---|---|---|
| Segment ROA | Innovative Medicine | Innovative Medicine segment ROA improved from 2022 to 2023 and from 2023 to 2024. |
| MedTech | MedTech segment ROA deteriorated from 2022 to 2023 and from 2023 to 2024. |
Segment ROA: Innovative Medicine
Johnson & Johnson; Innovative Medicine; segment ROA calculation
| Dec 29, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Income (loss) before tax | 18,919) | 18,246) | 18,831) | 19,475) | 14,398) |
| Identifiable assets | 57,070) | 58,324) | 82,504) | 89,457) | 93,513) |
| Segment Profitability Ratio | |||||
| Segment ROA1 | 33.15% | 31.28% | 22.82% | 21.77% | 15.40% |
Based on: 10-K (reporting date: 2024-12-29), 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).
1 2024 Calculation
Segment ROA = 100 × Income (loss) before tax ÷ Identifiable assets
= 100 × 18,919 ÷ 57,070 = 33.15%
| Segment profitability ratio | Reportable segment | The company |
|---|---|---|
| Segment ROA | Innovative Medicine | Innovative Medicine segment ROA improved from 2022 to 2023 and from 2023 to 2024. |
Segment ROA: MedTech
Johnson & Johnson; MedTech; segment ROA calculation
| Dec 29, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Income (loss) before tax | 3,740) | 4,669) | 4,607) | 4,373) | 3,044) |
| Identifiable assets | 84,322) | 74,710) | 70,956) | 53,372) | 49,578) |
| Segment Profitability Ratio | |||||
| Segment ROA1 | 4.44% | 6.25% | 6.49% | 8.19% | 6.14% |
Based on: 10-K (reporting date: 2024-12-29), 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).
1 2024 Calculation
Segment ROA = 100 × Income (loss) before tax ÷ Identifiable assets
= 100 × 3,740 ÷ 84,322 = 4.44%
| Segment profitability ratio | Reportable segment | The company |
|---|---|---|
| Segment ROA | MedTech | MedTech segment ROA deteriorated from 2022 to 2023 and from 2023 to 2024. |
Segment Asset Turnover
Johnson & Johnson, asset turnover by reportable segment
| Dec 29, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | |
|---|---|---|---|---|---|
| Innovative Medicine | 1.00 | 0.94 | 0.82 | 0.75 | 0.64 |
| MedTech | 0.38 | 0.41 | 0.39 | 0.51 | 0.46 |
Based on: 10-K (reporting date: 2024-12-29), 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).
| Segment activity ratio | Reportable segment | The company |
|---|---|---|
| Segment asset turnover | Innovative Medicine | Innovative Medicine segment asset turnover ratio improved from 2022 to 2023 and from 2023 to 2024. |
| MedTech | MedTech segment asset turnover ratio improved from 2022 to 2023 but then deteriorated significantly from 2023 to 2024. |
Segment Asset Turnover: Innovative Medicine
Johnson & Johnson; Innovative Medicine; segment asset turnover calculation
| Dec 29, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Sales to customers | 56,964) | 54,759) | 67,516) | 66,715) | 59,625) |
| Identifiable assets | 57,070) | 58,324) | 82,504) | 89,457) | 93,513) |
| Segment Activity Ratio | |||||
| Segment asset turnover1 | 1.00 | 0.94 | 0.82 | 0.75 | 0.64 |
Based on: 10-K (reporting date: 2024-12-29), 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).
1 2024 Calculation
Segment asset turnover = Sales to customers ÷ Identifiable assets
= 56,964 ÷ 57,070 = 1.00
| Segment activity ratio | Reportable segment | The company |
|---|---|---|
| Segment asset turnover | Innovative Medicine | Innovative Medicine segment asset turnover ratio improved from 2022 to 2023 and from 2023 to 2024. |
Segment Asset Turnover: MedTech
Johnson & Johnson; MedTech; segment asset turnover calculation
| Dec 29, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Sales to customers | 31,857) | 30,400) | 27,427) | 27,060) | 22,959) |
| Identifiable assets | 84,322) | 74,710) | 70,956) | 53,372) | 49,578) |
| Segment Activity Ratio | |||||
| Segment asset turnover1 | 0.38 | 0.41 | 0.39 | 0.51 | 0.46 |
Based on: 10-K (reporting date: 2024-12-29), 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).
1 2024 Calculation
Segment asset turnover = Sales to customers ÷ Identifiable assets
= 31,857 ÷ 84,322 = 0.38
| Segment activity ratio | Reportable segment | The company |
|---|---|---|
| Segment asset turnover | MedTech | MedTech segment asset turnover ratio improved from 2022 to 2023 but then deteriorated significantly from 2023 to 2024. |
Segment Capital Expenditures to Depreciation
Johnson & Johnson, capital expenditures to depreciation by reportable segment
| Dec 29, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | |
|---|---|---|---|---|---|
| Innovative Medicine | 0.45 | 0.43 | 0.39 | 0.32 | 0.23 |
| MedTech | 0.75 | 0.81 | 0.92 | 0.85 | 0.93 |
Based on: 10-K (reporting date: 2024-12-29), 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).
| Segment financial ratio | Reportable segment | The company |
|---|---|---|
| Segment capital expenditures to depreciation | Innovative Medicine | Innovative Medicine segment capital expenditures to depreciation ratio improved from 2022 to 2023 and from 2023 to 2024. |
| MedTech | MedTech segment capital expenditures to depreciation ratio deteriorated from 2022 to 2023 and from 2023 to 2024. |
Segment Capital Expenditures to Depreciation: Innovative Medicine
Johnson & Johnson; Innovative Medicine; segment capital expenditures to depreciation calculation
| Dec 29, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Additions to property, plant & equipment | 1,710) | 1,653) | 1,697) | 1,529) | 1,111) |
| Depreciation and amortization | 3,760) | 3,847) | 4,345) | 4,788) | 4,791) |
| Segment Financial Ratio | |||||
| Segment capital expenditures to depreciation1 | 0.45 | 0.43 | 0.39 | 0.32 | 0.23 |
Based on: 10-K (reporting date: 2024-12-29), 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).
1 2024 Calculation
Segment capital expenditures to depreciation = Additions to property, plant & equipment ÷ Depreciation and amortization
= 1,710 ÷ 3,760 = 0.45
| Segment financial ratio | Reportable segment | The company |
|---|---|---|
| Segment capital expenditures to depreciation | Innovative Medicine | Innovative Medicine segment capital expenditures to depreciation ratio improved from 2022 to 2023 and from 2023 to 2024. |
Segment Capital Expenditures to Depreciation: MedTech
Johnson & Johnson; MedTech; segment capital expenditures to depreciation calculation
| Dec 29, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Additions to property, plant & equipment | 2,443) | 2,372) | 2,120) | 1,933) | 1,980) |
| Depreciation and amortization | 3,237) | 2,943) | 2,302) | 2,286) | 2,140) |
| Segment Financial Ratio | |||||
| Segment capital expenditures to depreciation1 | 0.75 | 0.81 | 0.92 | 0.85 | 0.93 |
Based on: 10-K (reporting date: 2024-12-29), 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).
1 2024 Calculation
Segment capital expenditures to depreciation = Additions to property, plant & equipment ÷ Depreciation and amortization
= 2,443 ÷ 3,237 = 0.75
| Segment financial ratio | Reportable segment | The company |
|---|---|---|
| Segment capital expenditures to depreciation | MedTech | MedTech segment capital expenditures to depreciation ratio deteriorated from 2022 to 2023 and from 2023 to 2024. |
Sales to customers
Johnson & Johnson, sales to customers by reportable segment
US$ in millions
| Dec 29, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | |
|---|---|---|---|---|---|
| Innovative Medicine | 56,964) | 54,759) | 67,516) | 66,715) | 59,625) |
| MedTech | 31,857) | 30,400) | 27,427) | 27,060) | 22,959) |
| Segments total | 88,821) | 85,159) | 94,943) | 93,775) | 82,584) |
Based on: 10-K (reporting date: 2024-12-29), 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).
Income (loss) before tax
Johnson & Johnson, income (loss) before tax by reportable segment
US$ in millions
| Dec 29, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | |
|---|---|---|---|---|---|
| Innovative Medicine | 18,919) | 18,246) | 18,831) | 19,475) | 14,398) |
| MedTech | 3,740) | 4,669) | 4,607) | 4,373) | 3,044) |
| Segments total | 22,659) | 22,915) | 23,438) | 23,848) | 17,442) |
Based on: 10-K (reporting date: 2024-12-29), 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).
Identifiable assets
Johnson & Johnson, identifiable assets by reportable segment
US$ in millions
| Dec 29, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | |
|---|---|---|---|---|---|
| Innovative Medicine | 57,070) | 58,324) | 82,504) | 89,457) | 93,513) |
| MedTech | 84,322) | 74,710) | 70,956) | 53,372) | 49,578) |
| Segments total | 141,392) | 133,034) | 153,460) | 142,829) | 143,091) |
Based on: 10-K (reporting date: 2024-12-29), 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).
Additions to property, plant & equipment
Johnson & Johnson, additions to property, plant & equipment by reportable segment
US$ in millions
| Dec 29, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | |
|---|---|---|---|---|---|
| Innovative Medicine | 1,710) | 1,653) | 1,697) | 1,529) | 1,111) |
| MedTech | 2,443) | 2,372) | 2,120) | 1,933) | 1,980) |
| Segments total | 4,153) | 4,025) | 3,817) | 3,462) | 3,091) |
Based on: 10-K (reporting date: 2024-12-29), 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).
Depreciation and amortization
Johnson & Johnson, depreciation and amortization by reportable segment
US$ in millions
| Dec 29, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | |
|---|---|---|---|---|---|
| Innovative Medicine | 3,760) | 3,847) | 4,345) | 4,788) | 4,791) |
| MedTech | 3,237) | 2,943) | 2,302) | 2,286) | 2,140) |
| Segments total | 6,997) | 6,790) | 6,647) | 7,074) | 6,931) |
Based on: 10-K (reporting date: 2024-12-29), 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).