Filing Flows › Johnson & Johnson (JNJ) › Q4 2025
Johnson & Johnson (JNJ) Q4 2025 earnings results (fourth quarter 2025)
10-K filed Feb 11, 2026
Johnson & Johnson (JNJ) reported revenue of $24.6B for the fourth quarter 2025 (Q4 2025), +9% from a year earlier and +2% from the quarter before. Operating margin was 20.2%, net earnings $5.1B (20.8% of revenue).
Johnson & Johnson, Q4 2025: revenue $24.6B (+9% year over year), operating margin 20.2%, net earnings $5.1B, operating cash flow $7.3B. The chart follows the revenue to costs, profit and cash.
| Q4 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $24.6B | +2% | +9% |
| Gross profit | $16.6B | -0.6% | +8% |
| Operating profit | $5.0B | -34% | +28% |
| Net earnings | $5.1B | -0.7% | +49% |
| Operating cash flow | $7.3B | -20% | +5% |
| Free cash flow | $5.5B | -32% | +2% |
What changed
Revenue was $24.6B in Q4 2025, up 9% year over year and up 2% from the previous quarter. Innovative Medicine was the largest line at 64% of revenue.
Gross margin was 67.6%, down 0.8 points from a year earlier. Operating profit was $5.0B, a 20.2% margin (up 3.0 points year over year). Of the extra revenue versus a year earlier, 53% reached operating profit, above the 17% margin then. Operating expenses grew 1% against revenue growth of 9%. Net earnings were $5.1B, up 49% year over year. The effective tax rate was -3.0%.
Operating cash flow was $7.3B (up 5% year over year), 143% of net earnings. Non-cash charges added back $2.0B of depreciation and amortization and $0.31B of share-based compensation. Capital expenditures of $1.8B left free cash flow of $5.5B.
Questions
What was Johnson & Johnson's revenue in the fourth quarter 2025?
Johnson & Johnson (JNJ) reported revenue of $24.6B for the fourth quarter 2025 (Q4 2025), +9% from a year earlier and +2% from the quarter before.
Was Johnson & Johnson profitable in the fourth quarter 2025?
Operating profit was $5.0B (20.2% of revenue) and net earnings $5.1B.
Source: Johnson & Johnson 10-K on SEC EDGAR.