Johnson & Johnson
Johnson & Johnson returns on capital
Annual and trailing 12-month returns on invested capital, equity and assets.
ROIC
% · Annual / TTM
ROCE
% · Annual / TTM
ROIIC
% · Annual / TTM
ROE
% · Annual / TTM
ROA
% · Annual / TTM
ROIC − WACC
Percentage points · Scenario
Quarterly data
| Fiscal period | Ended | ROIC% | ROCE% | ROIIC% | ROE% | ROA% | ROIC − WACCPercentage points |
|---|---|---|---|---|---|---|---|
| FY 2026 Q2 | Jun 28, 2026 | — | — | — | 25.74% | 10.67% | — |
| FY 2026 Q1 | Mar 29, 2026 | — | — | — | 26.42% | 10.66% | — |
| FY 2025 Q4 | Dec 28, 2025 | — | — | — | 35.03% | 14.13% | — |
| FY 2025 Q3 | Sep 28, 2025 | — | — | — | 33.62% | 13.54% | — |
| FY 2025 Q2 | Jun 29, 2025 | — | — | — | 30.21% | 12.1% | — |
| FY 2025 Q1 | Mar 30, 2025 | — | — | — | 29.45% | 11.93% | — |
| FY 2024 Q4 | Dec 29, 2024 | — | — | — | 20.06% | 8.09% | — |
| FY 2024 Q3 | Sep 29, 2024 | — | — | — | 20.77% | 8.53% | — |
| FY 2024 Q2 | Jun 30, 2024 | — | — | — | 51.84% | 20.4% | — |
| FY 2024 Q1 | Mar 31, 2024 | — | — | — | — | 20.91% | — |
| FY 2023 Q4 | Dec 31, 2023 | — | — | — | 48.29% | 19.81% | — |
| FY 2023 Q3 | Oct 1, 2023 | — | — | — | — | 20.3% | — |
| FY 2023 Q2 | Jul 2, 2023 | — | — | — | — | 7.07% | — |
| FY 2023 Q1 | Apr 2, 2023 | — | — | — | — | 6.8% | — |
| FY 2022 Q4 | Jan 1, 2023 | — | — | — | — | 9.71% | — |
| FY 2022 Q3 | Oct 2, 2022 | — | — | — | — | 10.81% | — |
| FY 2022 Q2 | Jul 3, 2022 | — | — | — | — | 10.37% | — |
| FY 2022 Q1 | Apr 3, 2022 | — | — | — | — | 11.3% | — |
| FY 2021 Q4 | Jan 2, 2022 | — | — | — | — | 11.7% | — |
| FY 2021 Q3 | Oct 3, 2021 | — | — | — | — | 10.22% | — |
| FY 2021 Q2 | Jul 4, 2021 | — | — | — | — | 10.61% | — |
| FY 2021 Q1 | Apr 4, 2021 | — | — | — | — | 9.23% | — |
| FY 2020 Q4 | Jan 3, 2021 | — | — | — | — | 8.85% | — |
| FY 2020 Q3 | Sep 27, 2020 | — | — | — | — | 10.41% | — |
| FY 2020 Q2 | Jun 28, 2020 | — | — | — | — | 9.69% | — |
| FY 2020 Q1 | Mar 29, 2020 | — | — | — | — | 11.25% | — |
| FY 2019 Q4 | Dec 29, 2019 | — | — | — | — | 9.73% | — |
| FY 2019 Q3 | Sep 29, 2019 | — | — | — | — | 9.09% | — |
| FY 2019 Q2 | Jun 30, 2019 | — | — | — | — | 10.52% | — |
| FY 2019 Q1 | Mar 31, 2019 | — | — | — | — | 9.57% | — |
| FY 2018 Q4 | Dec 30, 2018 | — | — | — | — | 9.86% | — |
| FY 2018 Q3 | Sep 30, 2018 | — | — | — | — | 0.99% | — |
| FY 2018 Q2 | Jul 1, 2018 | — | — | — | — | 0.89% | — |
| FY 2018 Q1 | Apr 1, 2018 | — | — | — | — | 0.83% | — |
| FY 2017 Q4 | Dec 31, 2017 | — | — | — | — | 0.87% | — |
| FY 2017 Q3 | Oct 1, 2017 | — | — | — | — | 10.69% | — |
| FY 2017 Q2 | Jul 2, 2017 | — | — | — | — | 11.16% | — |
| FY 2017 Q1 | Apr 2, 2017 | — | — | — | — | 11.74% | — |
| FY 2016 Q4 | Jan 1, 2017 | — | — | — | — | 12.05% | — |
| FY 2016 Q3 | Oct 2, 2016 | — | — | — | — | 11.53% | — |
| FY 2016 Q2 | Jul 3, 2016 | — | — | — | — | 10.93% | — |
| FY 2016 Q1 | Apr 3, 2016 | — | — | — | — | 11.62% | — |
| FY 2015 Q4 | Jan 3, 2016 | — | — | — | — | 11.65% | — |
| FY 2015 Q3 | Sep 27, 2015 | — | — | — | — | 11.09% | — |
| FY 2015 Q2 | Jun 28, 2015 | — | — | — | — | 12.05% | — |
| FY 2015 Q1 | Mar 29, 2015 | — | 20.32% | — | — | 12.15% | — |
| FY 2014 Q4 | Dec 28, 2014 | 23.59% | 20.27% | 94.96% | — | 12.38% | 15.7 pp |
| FY 2014 Q3 | Sep 28, 2014 | — | 20.57% | — | — | 13.37% | — |
| FY 2014 Q2 | Jun 29, 2014 | — | 17.44% | — | — | 11.99% | — |
| FY 2014 Q1 | Mar 30, 2014 | — | 16.86% | — | — | 11.82% | — |
| FY 2013 Q4 | Dec 29, 2013 | 21.35% | 16.08% | 62.05% | — | 10.89% | 13.4 pp |
| FY 2013 Q3 | Sep 29, 2013 | — | 17.05% | — | — | 10.48% | — |
| FY 2013 Q2 | Jun 30, 2013 | — | 17.32% | — | — | 10.72% | — |
| FY 2013 Q1 | Mar 31, 2013 | — | 14.75% | — | — | 8.78% | — |
| FY 2012 Q4 | Dec 30, 2012 | 19.3% | 15.92% | 4.63% | — | 9.24% | 11.4 pp |
| FY 2012 Q3 | Sep 30, 2012 | — | 13.46% | — | — | 7.37% | — |
| FY 2012 Q2 | Jul 1, 2012 | — | 14.52% | — | — | 7.67% | — |
| FY 2012 Q1 | Apr 1, 2012 | — | 15.82% | — | — | 9.01% | — |
| FY 2011 Q4 | Jan 1, 2012 | 20.29% | 16.13% | — | — | 8.93% | 12.4 pp |
| FY 2011 Q3 | Oct 2, 2011 | — | 18.03% | — | — | 10.85% | — |
| FY 2011 Q2 | Jul 3, 2011 | — | 18.2% | — | — | 11.36% | — |
| FY 2011 Q1 | Apr 3, 2011 | — | 20.08% | — | — | 12.19% | — |
| FY 2010 Q4 | Jan 2, 2011 | 26.95% | 23.17% | 21.97% | — | 13.5% | 19.1 pp |
| FY 2010 Q3 | Oct 3, 2010 | — | — | — | — | 14.33% | — |
| FY 2010 Q2 | Jul 4, 2010 | — | — | — | — | 15.05% | — |
| FY 2010 Q1 | Apr 4, 2010 | — | — | — | — | — | — |
| FY 2009 Q4 | Jan 3, 2010 | — | — | — | — | — | — |
| FY 2009 Q3 | Sep 27, 2009 | — | — | — | — | — | — |
| FY 2009 Q2 | Jun 28, 2009 | — | — | — | — | — | — |
Sources and calculations
Financial inputs from company filings. Last checked Oct 18, 2026. A dash means missing inputs or an undefined calculation.
Period changes use the preceding fiscal quarter or year. Percentage changes divide by the absolute prior value; a zero or missing baseline has no percentage change. Percentage metrics show changes in percentage points.
Quarterly returns use trailing 12-month earnings and period-end balances averaged with the same fiscal quarter one year earlier. NOPAT uses the reported effective tax rate only when pretax profit is positive and the rate is between 0 and 100%. WACC starts at 7.9%, rounded from the Pharmaceuticals benchmark in NYU Stern · January 2026. It is an editable US sector proxy applied across history, not a company estimate; foreign reporting currencies also need a currency-specific assessment.
Market prices: Yahoo Finance · JNJ, USD. Latest completed close Sep 25, 2026. Price data retrieved Sep 28, 2026.
- ROIC
- NOPAT / average invested capital × 100. NOPAT = operating income × (1 − effective tax rate). Invested capital = equity including noncontrolling interests + debt − cash and equivalents. Average uses period end and one year earlier.
- ROCE
- Operating income / average (assets − current liabilities) × 100, using period end and one year earlier.
- ROIIC
- Year-over-year change in annual/TTM NOPAT / positive year-over-year change in invested capital × 100. Capital reductions and missing inputs yield unavailable values.
- ROE
- Earnings attributable to owners / average equity attributable to owners × 100, using period end and one year earlier.
- ROA
- Net income / average total assets × 100, using period end and one year earlier.
- ROIC − WACC
- ROIC less your WACC assumption, in percentage points. The same scenario rate is applied across history; it is not a reported or historical company WACC.