Company Valuation: Johnson & Johnson

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Capitalization 1 448,463 461,875 376,932 349,226 500,242 564,916 - -
Change - 2.99% -18.39% -7.35% 43.24% 12.93% - -
Enterprise Value (EV) 1 450,606 478,015 383,337 361,338 528,042 582,903 572,122 558,531
Change - 6.08% -19.81% -5.74% 46.14% 10.39% -1.85% -2.38%
P/E ratio 21.8x 26.2x 11.4x 25.1x 18.8x 25.1x 22.7x 21.2x
PBR 6.05x 6.13x 5.83x 4.88x 6.14x 6.31x 5.6x 4.94x
PEG - -1.9x 0x -0.4x 0.2x -1.6x 2.2x 2.85x
Capitalization / Revenue 4.78x 4.86x 4.43x 3.93x 5.31x 5.6x 5.28x 4.94x
EV / Revenue 4.81x 5.03x 4.5x 4.07x 5.61x 5.78x 5.34x 4.88x
EV / EBITDA 12.3x 14.6x 12.6x 12.3x 15.9x 15.7x 14.3x 12.9x
EV / EBIT 15.4x 16x 14x 13.7x 17.4x 17.4x 15.7x 14x
EV / FCF 22.8x 27.8x 21x 18.2x 26.8x 22x 19.4x 17.7x
FCF Yield 4.38% 3.6% 4.76% 5.49% 3.73% 4.55% 5.15% 5.65%
Dividend per Share 2 4.19 4.45 4.7 4.91 5.14 5.334 5.568 5.781
Rate of return 2.46% 2.52% 3% 3.39% 2.48% 2.27% 2.37% 2.46%
EPS 2 7.81 6.73 13.72 5.79 11.03 9.328 10.31 11.08
Distribution rate 53.6% 66.1% 34.3% 84.8% 46.6% 57.2% 54% 52.2%
Net sales 1 93,775 94,943 85,159 88,821 94,193 100,894 107,072 114,419
EBITDA 1 36,634 32,630 30,414 29,288 33,261 37,160 40,058 43,266
EBIT 1 29,244 29,965 27,460 26,466 30,358 33,545 36,501 39,991
Net income 1 20,878 17,941 35,153 14,066 26,804 21,679 24,298 25,943
Net Debt 1 2,143 16,140 6,405 12,112 27,800 17,987 7,206 -6,386
Reference price 2 170.35 176.66 156.58 145.05 207.63 234.54 234.54 234.54
Nbr of stocks (in thousands) 2,632,597 2,614,484 2,407,279 2,407,623 2,409,295 2,408,613 - -
Announcement Date 25/1/22 24/1/23 23/1/24 22/1/25 21/1/26 - - -
1USD in Million2USD
Estimates

P/E ratio, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
25.14x5.78x15.69x2.27% 565B
26.9x10.08x20.2x0.75% 809B
23.52x6.29x12.77x3.31% 370B
25.36x5.24x14.79x1.65% 312B
27.32x4.77x14.81x2.93% 285B
20.77x5.58x13.5x2.95% 286B
23.43x6.05x10.71x2.88% 189B
12.28x4.38x9.16x4.19% 180B
18.81x5.88x10.82x2.34% 172B
Average 22.61x 6.00x 13.61x 2.59% 351.84B
Weighted average by Cap. 24.05x 6.72x 15.20x 2.21%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA

Year-on-year evolution of the Yield

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