Credit and interest ratespositive · 5 filings
“Interest expense in the fiscal six months of 2026 was higher as compared to the prior year, due to a higher average debt balance.”10-Q · Jul 23, 2026 ↗
Johnson & Johnson
JNJ
Market read
Johnson & Johnson's move is spreading beyond its market group.
No new filing conclusion is available. 5 of 25 group members are active now; 3 filing-linked outsiders are moving with the group, and 0 of 4 directly disclosed connections are confirming.
Company-0.3% todayVolume comparison unavailable
Market group5 of 25 activeBiopharmaceuticals and Care · inactive
Disclosed network0 of 4 confirmingNo filing-linked name is confirming now
What would change this read
Watch this read- At least 17 of 25 durable members become active together.
- Capital-flow agreement rises above 55%.
- BDX remains aligned with the group in the next market snapshot.
Invalidation: The live read weakens if participation falls to 8 of 25 members or fewer.
Research brief
The story so far
No new filing conclusion is available. 5 of 25 group members are active now; 3 filing-linked outsiders are moving with the group, and 0 of 4 directly disclosed connections are confirming.
Evidence that supports
No thresholded supportive filing evidence is available yet.
Evidence that challenges
No thresholded adverse filing evidence is available yet.
What would clarify the read
- At least 17 of 25 durable members become active together.
- Capital-flow agreement rises above 55%.
- BDX remains aligned with the group in the next market snapshot.
Company research
Understand the business, not just the ticker
Business model and earnings drivers
Use the company’s filings to identify the few operating, demand, cost, capital and regulatory variables that determine its earnings power.
Key research questions
- Which operating variable is changing?
- Is that change durable, cyclical or one-off?
- What evidence would disprove the current interpretation?
Annual periods9
Price observations601
Usable filing statements170
Verified relationships6
Evidence supporting the case
- Latest annual revenue changed +6.0% year over year.
- Net margin changed +12.6 percentage points in the latest annual period.
- Credit and interest rates has repeated favorable evidence across 5 filings.
- Demand and volume has repeated favorable evidence across 4 filings.
- Product pipeline and R&D has repeated favorable evidence across 4 filings.
Evidence challenging the case
No qualifying adverse evidence was identified; that is not proof there is no downside.
Questions before a position
- P/E is 51% below the available filing-peer median; determine whether growth and quality justify the difference.
- EV/sales is 56% below the available filing-peer median; determine whether growth and quality justify the difference.
Longer-term price context
Price as of Sep 10, 2026
266.366m+9.6%12m+50.5%24m+61.5%
Annual trajectory
Reported annual revenue and per-share history. This is accounting history, not a forecast.
PeriodRevenueYoYDiluted EPSShare change
2022-01-02$78.7B-4.7%$7.81+0.1%
2023-01-01$80.0B+1.6%$6.73-0.4%
2023-12-31$85.2B+6.5%$13.72-3.9%
2024-12-29$88.8B+4.3%$5.79-5.1%
2025-12-28$94.2B+6.0%$11.03+0.0%
What management says matters
Persistent and emerging business drivers
Foreign exchangemixed · 5 filings
“The Company expects that substantially all of the amounts related to forward foreign exchange contracts will be reclassified into earnings over the next 12 months as a result of transactions that are expected to occur over that period.”10-Q · Jul 23, 2026 ↗
Demand and volumepositive · 4 filings
“The Surgical operational growth was primarily driven by the strength of recent product innovations, robust demand and strong commercial execution partially offset by competitive pressures in the U.S.”10-Q · Jul 23, 2026 ↗
Product pipeline and R&Dpositive · 4 filings
“The operational growth in Spine, Sports & Other was driven by new product innovations as well as growth in shoulders partially offset by competitive pressures and inventory dynamics.”10-Q · Jul 23, 2026 ↗
Valuation discipline
Descriptive valuation snapshot
Price/sales 6.9× · EV/sales 7.1×. Comparisons use only industry-matched filing peers.
Scenario scaffold
Mechanical 2.0-year scenarios are available as editable assumptions, not consensus.
Price action
How the market is pricing the story
266.36-0.3% today
Jodie does not have enough daily observations to draw a useful short-term chart for this asset. The latest quoted price was checked 10 Sept, 15:55 GMT-4; this is a coverage limitation, not a flat-price conclusion.
Developments
No sourced recent-development timeline yet
Jodie has not returned a relevant primary source or news item for JNJ. This is an evidence-coverage gap, not a conclusion that nothing material happened.
Business and financial condition
Reported financial figures are not available yet
Jodie has not returned structured SEC XBRL fundamentals for this asset. This is a coverage limitation, not an assessment of the business or its financial health.
Filing analysis
No comparable filing assessment is available yet
Jodie has not yet found a suitable current-versus-prior filing comparison for JNJ. This does not mean the latest filing was neutral or immaterial.
Business ecosystem
The relationships behind JNJ
Customers, suppliers, partners and competitors named in company filings—not inferred from headlines.
Depends on
ABBVAbbVie Inc.partnerFeb 11, 2026 ▾
“The Company has a number of products and compounds developed in collaboration with strategic partners including XARELTO, co-developed with Bayer HealthCare AG, IMBRUVICA, developed in collaboration and co-marketed with Pharmacyclics LLC, an AbbVie company and…”
KVUEKenvue Inc.partnerFeb 11, 2026 ▾
“Additionally, Johnson & Johnson and Kenvue entered into TMAs pursuant to which Johnson & Johnson will manufacture and supply to Kenvue certain products and, similarly, Kenvue will manufacture and supply to Johnson & Johnson certain products.”
LEGNLegend Biotech CorporationpartnerFeb 11, 2026 ▾
“The Company has a number of products and compounds developed in collaboration with strategic partners including XARELTO, co-developed with Bayer HealthCare AG, IMBRUVICA, developed in collaboration and co-marketed with Pharmacyclics LLC, an AbbVie company and…”
Filing peers
Companies whose filings use similar operating language.
Open the three relationships above to see Jodie’s filing proof. Pro unlocks 7 more links, every receipt, and alerts when connected names begin moving. Unlock the full network →
What is moving around it
Live connections
JNJ is currently a Early Follower in the organic co-movement group Biopharmaceuticals and Care. This group is discovered from market behaviour rather than assigned from an industry taxonomy. 3 filing-linked names are in the relationship map; none is currently confirmed as moving with the group.
Context history
Theme membership history
No durable theme membership has been observed for this name yet.