Johnson & Johnson (JNJ) FY2019 results: revenue $82.1 billion, up 0.6% on the year
Johnson & Johnson (JNJ) reported revenue of $82.1 billion for fiscal 2019, the year ended 29 December 2019, up 0.6% on the year before. Net income was $15.1 billion, down 1.2%, and diluted earnings per share $5.63. The figures are the company's own, from the 10-K it filed with the SEC on 18 February 2020.
Revenue
$82.1 billion
+0.6% on the year
FY2012FY2019
Operating margin
n/a
FY2012FY2019
Net income
$15.1 billion
-1.2% on the year
FY2012FY2019
Diluted EPS
$5.63
+0.4% on the year
FY2012FY2019
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Revenue
82,059
81,581
76,450
+0.6%
Cost of revenue
27,556
27,091
25,439
+1.7%
Gross profit
54,503
54,490
51,096
+0.0%
Gross margin
66.4%
66.8%
66.8%
Research and development
11,355
10,775
10,594
+5.4%
Selling, general and administrative
22,178
22,540
21,520
-1.6%
Interest expense
318
1,005
934
-68.4%
Pre-tax income
17,328
17,999
17,673
-3.7%
Income tax
2,209
2,702
16,373
-18.2%
Effective tax rate
12.7%
15.0%
92.6%
Net income
15,119
15,297
1,300
-1.2%
Net margin
18.4%
18.8%
1.7%
Diluted EPS
$5.63
$5.61
$0.47
+0.4%
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Operating cash flow
23,416
22,201
21,056
+5.5%
Capital expenditure
3,498
3,670
3,279
-4.7%
Free cash flow
19,918
18,531
17,777
+7.5%
Free cash flow margin
24.3%
22.7%
23.3%
Cash from investing
-6,194
-3,167
-14,868
Cash from financing
-18,015
-18,510
-7,673
Depreciation and amortisation
7,009
6,929
5,642
+1.2%
Share-based compensation
977
978
962
-0.1%
Buybacks
6,746
5,868
6,358
+15.0%
Dividends paid
9,917
9,494
8,943
+4.5%
Dividend per share
$3.75
$3.54
$3.32
+5.9%
Diluted shares, weighted
2,684m
2,729m
2,745m
-1.6%
Balance sheet
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Shareholders' equity
59,471
59,752
60,160
-0.5%
Debt
27,696
30,480
34,581
-9.1%
Operating lease liabilities
716
n/a
n/a
Other liabilities
69,845
62,722
62,562
+11.4%
Total liabilities and equity
157,728
152,954
157,303
+3.1%
Fixed assets
17,658
17,035
17,005
+3.7%
Goodwill
33,639
30,453
31,906
+10.5%
Intangible assets
47,643
47,611
53,228
+0.1%
Investments
1,982
1,580
472
+25.4%
Cash and equivalents
17,305
18,107
17,824
-4.4%
Receivables
14,481
14,098
13,490
+2.7%
Inventory
9,020
8,599
8,765
+4.9%
Other assets
16,000
15,471
14,613
+3.4%
Total assets
157,728
152,954
157,303
+3.1%
10-K for the year ended 29 December 2019, filed 18 February 2020: the filing.