Pharmaceuticals and medical devices. We rebuild its market value from the price, split it into its parts, and compare its multiples with those of its largest competitors.
Verified figures, not advice. Every number on this page comes from the company's own filings or from exchange prices, and the source is linked. Every calculation is shown, so you can repeat it. What we do not do is tell you what a share should be worth or whether to buy it: that depends on your goals and on forecasts, and no multiple can settle it. This is a snapshot: prices of 12 Oct 2026, company results up to mid 2026. Found a mistake? Tell us and we correct it.
StepNumberWhere it comes from
Share price (nominal value)
$263.73
Close of 12 Oct 2026
Shares outstanding
2.41 bn
Latest report or filing, as of 2026-07-17
Market capitalisation
$635.6bn
Price x shares
Market capitalisation is the value the stock market puts on all the shares together. It is the nominal share price multiplied by the number of shares.
Building blockAmountMeaning
Market capitalisation
$635.6bn
What the market asks for all the shares
+ Debt
$49.0bn
Borrowings, leases for premises excluded
- Cash
$20.4bn
Cash and equivalents
- Short-term investments
$0.3bn
Marketable securities due within a year
+ Minority interests
$0.0bn
Part of subsidiaries owned by others
Enterprise value (EV)
$663.8bn
The price of the whole business, as a buyer would see it
Of the $635.6bn market value, accounting book equity is $85.0bn. The remaining $550.6bn is what investors pay above the books: brands, software, customer relationships and expected growth that the balance sheet does not record. Price to book is 7.5x.
Context: Johnson & Johnson earns an EBITDA margin of 26%. The peers earn 20%, 32%, 38%, 45% (median 35%). A company that keeps more of each dollar of sales often trades at a higher multiple.
The peers are large drug makers. Johnson & Johnson also sells medical devices, so the match is partial.
- EV / EBITDA: 25.9x against a peer median of 26.8x (mean 24.1x). Difference to the median: -3%.
- EV / sales: 6.7x against a peer median of 7.4x (mean 8.2x). Difference: -10%.
- P/E: 39.5x against a peer median of 60.2x. Difference: -34%.
These are descriptions of today's prices, not forecasts. "n.m." means not meaningful, for example negative profit.
Prices of 12 Oct 2026 from exchange historical data. Share counts, debt, cash and results from each company's filings, read on 13 and 14 October 2026. Foreign companies are converted at one stated rate.
Johnson & Johnson (JNJ)
- sec.gov (shares_outstanding, balance sheet, H1 flows)
- sec.gov (FY2025 income statement, segment one-offs)
- sec.gov (Q3 2026 / 9M 2026 income statement and special items)
- data.sec.gov (XBRL cross-check)
Merck & Co., Inc. (MRK)
Pfizer Inc. (PFE)
- sec.gov (shares_outstanding, balance sheet, H1 statements, other dedu)
- sec.gov (FY2025 statements, impairments detail)
- data.sec.gov (XBRL cross-check)
AbbVie Inc. (ABBV)
Eli Lilly and Company (LLY)
Questions people ask
Does a higher multiple than competitors mean the share is overvalued?
No. It means investors pay more per dollar of sales or profit. The reason can be faster growth, higher margins or lower risk, or it can be excess optimism. A multiple gap is a question to investigate, not an answer.
Why use enterprise value and not only market cap?
Market cap prices the shares only. Enterprise value adds debt and subtracts cash, so it compares the whole business regardless of how it is financed.
Why show both the mean and the median of competitors?
The mean is pulled up by one extreme value. The median is the middle value and resists outliers. When they differ a lot, trust the median more.