Johnson & Johnson (JNJ) FY2020 results: revenue $82.6 billion, up 0.6% on the year
Johnson & Johnson (JNJ) reported revenue of $82.6 billion for fiscal 2020, the year ended 3 January 2021, up 0.6% on the year before. Net income was $14.7 billion, down 2.7%, and diluted earnings per share $5.51. The figures are the company's own, from the 10-K it filed with the SEC on 22 February 2021.
Revenue
$82.6 billion
+0.6% on the year
FY2013FY2020
Operating margin
n/a
FY2013FY2020
Net income
$14.7 billion
-2.7% on the year
FY2013FY2020
Diluted EPS
$5.51
-2.1% on the year
FY2013FY2020
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Revenue
82,584
82,059
81,581
+0.6%
Cost of revenue
28,427
27,556
27,091
+3.2%
Gross profit
54,157
54,503
54,490
-0.6%
Gross margin
65.6%
66.4%
66.8%
Research and development
12,159
11,355
10,775
+7.1%
Selling, general and administrative
22,084
22,178
22,540
-0.4%
Interest expense
201
318
1,005
-36.8%
Pre-tax income
16,497
17,328
17,999
-4.8%
Income tax
1,783
2,209
2,702
-19.3%
Effective tax rate
10.8%
12.7%
15.0%
Net income
14,714
15,119
15,297
-2.7%
Net margin
17.8%
18.4%
18.8%
Diluted EPS
$5.51
$5.63
$5.61
-2.1%
$ 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
FY2020
FY2019
FY2018
On the year
Last 8 years
Operating cash flow
23,536
23,416
22,201
+0.5%
Capital expenditure
3,347
3,498
3,670
-4.3%
Free cash flow
20,189
19,918
18,531
+1.4%
Free cash flow margin
24.4%
24.3%
22.7%
Cash from investing
-20,825
-6,194
-3,167
Cash from financing
-6,120
-18,015
-18,510
Depreciation and amortisation
7,231
7,009
6,929
+3.2%
Share-based compensation
1,005
977
978
+2.9%
Buybacks
3,221
6,746
5,868
-52.3%
Dividends paid
10,481
9,917
9,494
+5.7%
Dividend per share
$3.98
$3.75
$3.54
+6.1%
Diluted shares, weighted
2,671m
2,684m
2,729m
-0.5%
Balance sheet
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Shareholders' equity
63,278
59,471
59,752
+6.4%
Debt
35,266
27,696
30,480
+27.3%
Operating lease liabilities
n/a
716
n/a
Other liabilities
76,350
69,845
62,722
+9.3%
Total liabilities and equity
174,894
157,728
152,954
+10.9%
Fixed assets
18,766
17,658
17,035
+6.3%
Goodwill
36,393
33,639
30,453
+8.2%
Intangible assets
53,402
47,643
47,611
+12.1%
Investments
11,200
1,982
1,580
+465.1%
Cash and equivalents
13,985
17,305
18,107
-19.2%
Receivables
13,576
14,481
14,098
-6.2%
Inventory
9,344
9,020
8,599
+3.6%
Other assets
18,228
16,000
15,471
+13.9%
Total assets
174,894
157,728
152,954
+10.9%
10-K for the year ended 3 January 2021, filed 22 February 2021: the filing.