Johnson & Johnson (JNJ) 10-K Summary — Year Ended Dec 28, 2025
Johnson & Johnson operates in healthcare with two segments, Innovative Medicine and MedTech. The company reported revenue growth and strong operating cash flow for the fiscal year.
Key takeaway
Year ended Dec 28, 2025 · FY2025 10-K
Johnson & Johnson operates in healthcare with two segments, Innovative Medicine and MedTech. The company reported revenue growth and strong operating cash flow for the fiscal year.
Financial snapshot
Selected annual figures reported with the filing, shown separately from the narrative summary.
Annual revenue
$94.2B
Revenue reported for the fiscal year.
Operating income
n/a
Income from operations reported for the year.
Net income
$26.8B
Net income reported for the year.
Operating cash flow
$24.5B
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 |
|---|---|---|
| Oct 1, 2023 | $21.4B | -0.8% |
| Dec 31, 2023 | $85.2B | +298.9% |
| Dec 29, 2024 | $88.8B | +4.3% |
| Dec 28, 2025 | $94.2B | +6.0% |
Business overview
The company has approximately 138,200 employees worldwide, focusing on research, development, manufacture, and sale of healthcare products. It is organized into two business segments: Innovative Medicine and MedTech. Johnson & Johnson's primary focus is on products related to human health and well-being.
Financial performance
Revenue increased compared to the prior year, while net income and operating cash flow remained robust. The company's financial performance reflects its diversified healthcare portfolio.
Material risks
The filing mentions risk factors including those related to business operations, legal proceedings, and forward-looking statements. These uncertainties could affect future results.
Liquidity and capital
Cash and cash equivalents decreased primarily due to investing and financing activities, though operating cash flows provided a solid foundation for capital allocation.
What to watch
Monitor the sales performance of both Innovative Medicine and MedTech segments in the next quarterly report.