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Johnson & Johnson (JNJ) earnings and revenue breakdown
Latest: Q3 2026 · 10-Q filed Oct 21, 2026 · Johnson & Johnson (JNJ) Q3 2026 earnings results →
Q3 2026 Revenue up 6% year over year to $25.4B · 1¢ of every $1 of revenue kept as net profit · operating margin 0.1%
Johnson & Johnson made $25.4B in Q3 2026 (+6% Y/Y): Innovative Medicine $16.8B, MEDTECH $8.6B. Operating margin 0.1%, net earnings $210M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Oct 21, 2026.
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What changed this quarter
Revenue was $25.4B in Q3 2026, up 6% year over year and roughly flat from the previous quarter. Innovative Medicine was the largest line at 66% of revenue. Innovative Medicine added $1.2B year over year (up 8%), 85% of the total change.
Gross margin was 68.1%, down 1.4 points from Q3 2025. Operating profit was $0.03B, a 0.1% margin (down 31.1 points year over year). Operating profit fell $7.5B even though revenue rose $1.4B versus Q3 2025, so costs grew faster than sales. Operating expenses grew 88% against revenue growth of 6%. Net earnings were $0.21B, down 96% year over year. The tax line was a benefit of $0.18B on pre-tax earnings of $0.03B.
Operating cash flow was $7.7B (down 16% year over year), 3676% of net earnings. Non-cash charges added back $2.1B of depreciation and amortization and $0.36B of share-based compensation. Working capital and other items added $5.0B. Capital expenditures of $1.4B left free cash flow of $6.4B.
Quarterly history
| Quarter | Form | Filed | Revenue | Y/Y | Op. margin | Net earnings | Op. cash flow |
|---|---|---|---|---|---|---|---|
| Q3 2026 | 10-Q | Oct 21, 2026 | $25.4B | +6% | 0.1% | $210M | $7.7B |
| Q2 2026 | 10-Q | Jul 23, 2026 | $25.3B | +7% | 26.7% | $5.5B | $8.6B |
| Q1 2026 | 10-Q | Apr 22, 2026 | $24.1B | +10% | 24.9% | $5.2B | $2.5B |
| Q4 2025 | 10-K | Feb 11, 2026 | $24.6B | +9% | 20.2% | $5.1B | $7.3B |
| Q3 2025 | 10-Q | Oct 22, 2025 | $24.0B | +7% | 31.2% | $5.2B | $9.2B |
| Q2 2025 | 10-Q | Jul 24, 2025 | $23.7B | +6% | 27.3% | $5.5B | $3.9B |
| Q1 2025 | 10-Q | Apr 23, 2025 | $21.9B | +2% | 62.3% | $11.0B | $4.2B |
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About Johnson & Johnson
Johnson & Johnson and its subsidiaries (the Company) have approximately 138,200 employees worldwide engaged in the research and development, manufacture and sale of a broad range of products in the healthcare field. Johnson & Johnson is a holding company, with operating companies conducting business in virtually all countries of the world. The Company’s primary focus is products related to human health and well-being. Johnson & Johnson was incorporated in the State of New Jersey in 1887. The Chief Operating Decision Maker (CODM) is the Company's Chief Executive Officer (Principal Executive Officer). The Executive Committee is Johnson & Johnson’s senior leadership team responsible for setting the strategy and priorities of the Company and driving accountability at all levels. Within the strategic parameters provided by the Executive Committee, senior management groups at U.S.
In its own words, from its 10-K, filed Feb 11, 2026.
Johnson & Johnson against its Pharmaceutical Preparations peers
The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: +6% against the peers' median +7%. Operating margin: 0.1% against the peers' median 20.4%.
| Company | Quarter | Revenue | Y/Y | Op. margin |
|---|---|---|---|---|
| JNJ Johnson & Johnson | Q3 2026 | $25.4B | +6% | 0.1% |
| LLY ELI Lilly | Q3 2026 | $24.4B | +39% | 34.5% |
| MRK Merck | Q3 2026 | $18.1B | +5% | 30.7% |
| ABBV AbbVie | Q3 2026 | $17.4B | +10% | 36.0% |
| PFE Pfizer | Q3 2026 | $16.6B | -0.4% | 20.4% |
| BMY Bristol Myers Squibb | Q3 2026 | $13.1B | +7% | 19.4% |
| ABT Abbott Laboratories | Q3 2026 | $13.0B | +14% | 10.4% |
| REGN Regeneron Pharmaceuticals | Q3 2026 | $5.1B | +36% | 40.0% |
| TEVA Teva Pharmaceutical Industries | Q3 2026 | $4.4B | -2% | 16.2% |
Source: Johnson & Johnson 10-Q on SEC EDGAR · CIK 200406 · Pharmaceutical Preparations
Guidance and outlook
13F: who owns JNJ and who is buying
More on JNJ
History
Every quarter: Q3 2026 results · Q2 2026 results · Q1 2026 results · Q4 2025 results · Q3 2025 results · Q2 2025 results · Q1 2025 results
- Johnson & Johnson guidance history: guided vs reported
- Johnson & Johnson gross margin by quarter
- Johnson & Johnson operating margin by quarter
- Johnson & Johnson net income by quarter
- Johnson & Johnson free cash flow by quarter
- Johnson & Johnson R&D spending by quarter
- Johnson & Johnson capital expenditures by quarter
- Johnson & Johnson Innovative Medicine revenue by quarter
- Johnson & Johnson MEDTECH revenue by quarter