What is Johnson & Johnson's HLD-0915 — discount rate?

Johnson & Johnson (JNJ) reported HLD-0915 — discount rate of 17% in Q4 2025.

What does HLD-0915 — discount rate mean?

The discount rate applied to the projected future cash flows of the HLD-0915 asset to determine its present value. This rate reflects the specific risk profile, cost of capital, and time value of money associated with the development and commercialization of this specific product candidate. It is a critical input in impairment testing and valuation models for R&D-stage assets.

Johnson & Johnson JNJ HLD-0915 — Discount rate

Similar metrics at other companies

STEXDiscount Rate

40.5%—

CVSLong Term Care — Current discount rate

5.7%+0.1pp

UNMLong-term Care — Current discount rate

5.7%+0.2pp

CRMDDiscount Rate

17%—

CRMDDiscount Rate

17%—

BENFDiscount rate

20%—

Other financials

Income statement

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Revenue$24.1B+9.9%

Gross profit$16.0B+9.8%

Operating income$6.3B+2.3%

Net income$5.2B-52.4%

EPS (diluted)$2.14-52.9%

Balance sheet

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Cash & equivalents$21.7B-43.6%

Total debt$55.0B+5.2%

Total equity$81.2B+3.9%

Total assets$200.89B+3.7%

Cash flow

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Operating cash flow$2.5B-39.8%

CapEx$1.0B+31.9%

Free cash flow$1.5B-56.6%

Valuation

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Market cap$611.36B+73.1%

Enterprise value$644.66B+67.5%

P/E29.1×+13.5×

P/S6.3×+2.4×

Profitability

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Gross margin67.8%-0.5pp

Operating margin26.4%+2.8pp

Net margin21.8%-2.6pp

FCF margin18.5%-4.3pp

Returns & leverage

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Return on equity26.4%-3.0pp

Debt / equity0.7×0.0×

Current ratio1×-0.2×

Where this comes from

Reported directly by Johnson & Johnson in its filing.

Tagged under the XBRL concept jnj:AcquiredFiniteLivedIntangibleAssetsDiscountRate.

The official record: Johnson & Johnson’s 10-K, filed February 11, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Johnson & Johnson's HLD-0915 — discount rate?: Johnson & Johnson (JNJ) reported HLD-0915 — discount rate of 17% in Q4 2025.
What does HLD-0915 — discount rate mean?: The discount rate applied to the projected future cash flows of the HLD-0915 asset to determine its present value. This rate reflects the specific risk profile, cost of capital, and time value of money associated with the development and commercialization of this specific product candidate. It is a critical input in impairment testing and valuation models for R&D-stage assets.