Filing Flows › Johnson & Johnson (JNJ) › Q2 2026 › vs Q2 2025
Johnson & Johnson (JNJ) Q2 2026 vs Q2 2025 (year over year)
Johnson & Johnson's revenue rose $1.6B (+7%) from $23.7B in Q2 2025 to $25.3B in Q2 2026. The biggest changes: Innovative Medicine +$1.2B (+8%); MEDTECH +$385M (+5%). Gross margin 68.2% against 67.9% (+0.3 pts).
Johnson & Johnson, Q2 2026: revenue $25.3B (+7% year over year), operating margin 26.7%, net earnings $5.5B, operating cash flow $8.6B. The chart draws each line against Q2 2025, the increases inside each band.
Margins
| Q2 2026 | Q2 2025 | Change | |
|---|---|---|---|
| Gross margin | 68.2% | 67.9% | +0.3 pts |
| Operating margin | 26.7% | 27.3% | -0.7 pts |
| Net margin | 21.9% | 23.3% | -1.5 pts |
| Free cash flow margin | 28.8% | 11.9% | +16.9 pts |
Every line
| Line | Q2 2026 | Q2 2025 | Change | % |
|---|---|---|---|---|
| Innovative Medicine | $16.4B | $15.2B | $1.2B | +8% |
| MEDTECH | $8.9B | $8.5B | $385M | +5% |
| Revenue | $25.3B | $23.7B | $1.6B | +7% |
| Gross profit | $17.3B | $16.1B | $1.1B | +7% |
| Cost of revenue | $8.1B | $7.6B | $423M | +6% |
| Operating profit | $6.7B | $6.5B | $256M | +4% |
| Operating expenses | $10.5B | $9.6B | $888M | +9% |
| Pre-tax earnings | $6.7B | $6.5B | $256M | +4% |
| Research & development | $3.7B | $3.5B | $137M | +4% |
| SG&A | $6.4B | $5.9B | $543M | +9% |
| Other operating costs | $427M | $219M | $208M | +95% |
| Net earnings | $5.5B | $5.5B | −$3.0M | -0.1% |
| Income tax | $1.2B | $954M | $259M | +27% |
| Depreciation & amortization | $2.0B | $1.9B | $16.0M | +0.8% |
| Share-based compensation | $458M | $410M | $48.0M | +12% |
| Working capital & other | $665M | −$4.0B | $4.7B | — |
| Operating cash flow | $8.6B | $3.9B | $4.7B | +122% |
| Free cash flow (OCF − capex) | $7.3B | $2.8B | $4.5B | +157% |
| Capital expenditures | $1.3B | $1.0B | $278M | +27% |
Questions
How much did Johnson & Johnson's revenue grow year over year in Q2 2026?
Johnson & Johnson's revenue rose $1.6B (+7%) from $23.7B in Q2 2025 to $25.3B in Q2 2026.
What drove Johnson & Johnson's revenue change in Q2 2026?
Innovative Medicine +$1.2B (+8%); MEDTECH +$385M (+5%).