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Johnson & Johnson JNJ Innovative Medicine — Research and development expense

Other segment segments

MEDTECH
$714M+5.5%

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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$623.71B+66.9%
Enterprise value$657.01B+61.9%
P/E29.6×+13.2×
P/S6.5×+2.3×

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 us-gaap:ResearchAndDevelopmentExpenseExcludingAcquiredInProcessCost.

The official record: Johnson & Johnson’s 10-Q, filed April 22, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Johnson & Johnson's innovative medicine — research and development expense?
Johnson & Johnson (JNJ) reported innovative medicine — research and development expense of $2.81B in Q1 2026.
How has Johnson & Johnson's innovative medicine — research and development expense changed year-over-year?
Johnson & Johnson's innovative medicine — research and development expense increased by 10.4% year-over-year, from $2.55B to $2.81B.
What is the long-term trend for Johnson & Johnson's innovative medicine — research and development expense?
Over 3 years (2022 to 2025), Johnson & Johnson's innovative medicine — research and development expense has grown at a 0.5% compound annual growth rate (CAGR), from $11.64B to $11.83B.
What does innovative medicine — research and development expense mean?
Tracks the investment in scientific research, clinical trials, and product development within the Innovative Medicine segment. This is the primary driver of future growth and innovation in the pharmaceutical pipeline. It reflects the company's commitment to discovering new therapies and maintaining a competitive edge.