Johnson & Johnson (JNJ) 10-K Summary — Year Ended Dec 31, 2023
Johnson & Johnson operates in the healthcare sector through two segments: Innovative Medicine and MedTech. In the reported period, the company generated significant cash from operations and held a substantial cash balance.
Key takeaway
Year ended Dec 31, 2023 · FY2025 10-K
Johnson & Johnson operates in the healthcare sector through two segments: Innovative Medicine and MedTech. In the reported period, the company generated significant cash from operations and held a substantial cash balance.
Financial snapshot
Selected annual figures reported with the filing, shown separately from the narrative summary.
Annual revenue
$85.2B
Revenue reported for the fiscal year.
Operating income
n/a
Income from operations reported for the year.
Net income
$35.2B
Net income reported for the year.
Operating cash flow
$22.8B
Cash generated by operating activities.
Annual revenue trend
Reported annual revenue and its change from the preceding fiscal year.
| Period ended | Revenue | Year-over-year change |
|---|---|---|
| Jul 2, 2023 | $21.5B | n/a |
| Oct 1, 2023 | $21.4B | -0.8% |
| Dec 31, 2023 | $85.2B | +298.9% |
Business overview
Johnson & Johnson is a holding company whose operating companies research, develop, manufacture, and sell healthcare products worldwide. The company is organized into two segments: Innovative Medicine, which focuses on therapeutic areas such as immunology, oncology, and neuroscience, and MedTech. The Executive Committee oversees strategic operations and resource allocation for these segments.
Financial performance
The company reported net earnings and generated cash flow from operations. Cash and cash equivalents increased compared to the prior year-end. The company also held marketable securities at the end of the fiscal year.
Material risks
The filing states that actual results may differ materially from forward-looking statements due to various risks. It notes that not all potential risks can be predicted or identified, and the list of risks described is not a complete statement of all uncertainties.
Liquidity and capital
Cash generated from operations was a primary source of liquidity. The company's cash and cash equivalents balance increased, and it also held marketable securities.
What to watch
Readers should monitor the performance of the Innovative Medicine segment's key products and any changes in the competitive landscape for those therapies.