Johnson & Johnson

JNJNYSEHealthcare● Active

$232.77

+$4.60(+2.02%)

Market Cap$560.3B

P/E Ratio—

52W High$251.71

52W Low$149.04

Avg Volume7.7M

Open$230.00

Beta0.26

Free Cash Flow Financials Revenue

Johnson & Johnson (JNJ) Free Cash Flow & Analysis

Annual & trailing free cash flow, FCF margin, YoY change, valuation ratios, and peer context.

JNJ · free cash flow · updated Jun 8, 2026

Core FCF metrics

JNJ · FCF · TTM · margin & CAGR

Free cash flow was $19.70B for FY2025 (fiscal year ending 2025-12-28), down 0.7% year-over-year The FCF margin was 20.9%. Five-year CAGR stands at -0.5%.

FY2025 Free Cash Flow$19.70B▼ -0.7% YoY

Trailing 12M (TTM)$17.80Btrailing 4 quarters sum

FCF Margin20.9%$19.70B ÷ revenue

3-Year CAGR+4.7%FY2022 → FY2025

5-Year CAGR-0.5%FY2020 → FY2025

FormulaFCF = Operating Cash Flow − Capital ExpendituresTTM = trailing 4 quarters sumCAGR → N/A if either endpoint ≤ 0

Source: FMP /cash-flow-statement · SEC 10-K / 10-Q · USDUpdated: Jun 8, 2026

Annual free cash flow history

FCF ($B, upper) · YoY Growth % (lower)

Positive FCFNegative FCF

Free Cash Flow

YoY Growth %

Annual free cash flow data

JNJ · free cash flow history · annual / quarterly

Fiscal YearOperating CFCapExFree Cash FlowYoY ChangeFCF Margin

FY2025Latest$24.53B(4.83B)$19.70B▼ 0.7%20.9%

FY2024$24.27B(4.42B)$19.84B▲ +8.7%22.3%

FY2023$22.79B(4.54B)$18.25B▲ +6.2%21.4%

FY2023$21.19B(4.01B)$17.18B▼ 13.0%21.5%

FY2022$23.41B(3.65B)$19.76B▼ 2.1%25.1%

FCF = Operating Cash Flow − Capital Expenditures · CapEx shown as (negative) · Source: SEC filings via FMP

FCF valuation metrics

JNJ · P/FCF · FCF yield · FCF per share

Johnson & Johnson (JNJ) trades at a FCF yield of 3.18% and a price-to-free-cash-flow ratio of 31.8x. FCF per share stands at $7.33, calculated using trailing twelve-month FCF divided by basic weighted-average shares outstanding.

FCF Yield (TTM)

3.18%

Free Cash Flow ÷ Market Cap

per FMP freeCashFlowYieldTTM definition

FCF per Share (TTM)

$7.33

TTM FCF ÷ Shares Outstanding

Price / FCF

x31.8

Share Price ÷ FCF per Share

EV / FCF (TTM)

x31.3

Enterprise Value basis

Source: FMP /key-metrics-ttm · /cash-flow-statement Q · /income-statementFY2025 · 2025-12-28

Cash flow statement summary

JNJ · cash flow statement · operating / investing / financing

For FY2025, Johnson & Johnson generated $24.53B in operating cash flow and spent 4.83B in capital expenditures, yielding $19.70B in free cash flow.

Operating Activities

+$24.53B

Cash from core business operations

2025-12-28

Investing Activities

−$23.59B

CapEx, acquisitions & investments

2025-12-28

Financing Activities

−$5.54B

Buybacks, dividends & debt

2025-12-28

FCF FormulaOperating CF ($24.53B) − |CapEx| (4.83B) = FCF ($19.70B)

For the complete Operating / Investing / Financing line-item breakdown:

View Full Cash Flow Statement →

Free cash flow vs peers (Healthcare)

JNJ vs peers · FCF

#CompanyFree Cash FlowYoYFCF MarginRelative

Johnson & JohnsonYOU

JNJ

$19.70B-0.7%20.9%

100%

UnitedHealth Group Incorporated

Eli Lilly and Company

LLY

$8.97B+2065.6%13.8%

46%

Healthcare · Sorted by FCF · FMP /cash-flow-statementFull FCF Rankings →

About Free Cash Flow & Methodology

Johnson & Johnson (JNJ) reported free cash flow of $19.70B for FY2025 (fiscal year ending 2025-12-28), down 0.7% year-over-year. The FCF margin was 20.9%.

Based on available data, Johnson & Johnson has maintained positive free cash flow for at least 15 fiscal year(s). FCF peaked at $20.19B in FY2021. The 5-year CAGR stands at -0.5%.

Johnson & Johnson's FCF yield is 3.18% and price-to-FCF ratio is 31.8x for FY2025, based on the latest available data.

Data sourced from FMP /cash-flow-statement · SEC 10-K / 10-Q · USD.

Q&A and summaries align with SEC 10-K/10-Q cash flow disclosures and FMP /cash-flow-statement where noted.

Revenue Financial statements Net income Earnings Forecast Price history Market cap Cash on hand P/E ratio

Frequently asked questions

JNJ free cash flow · 8 questions

Johnson & Johnson free cash flow was $19.70B for FY2025, down 0.7% year-over-year. On a trailing twelve-month (TTM) basis, free cash flow stands at $17.80B.

JNJ free cash flowJNJ FCFJNJ FCF 2025JNJ free cash flow TTM

▸ Source: FMP /cash-flow-statement · US GAAP · Johnson & Johnson · Johnson & Johnson SEC 10-K & 10-Q filings · US GAAP · Last updated: Jun 8, 2026