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Sentiment · FY2026 Q2
| Quarter | Revenue | Rev YoY | EPS | EPS YoY | Gross margin | Op margin | Net margin | FCF |
|---|---|---|---|---|---|---|---|---|
| FY2024 Q4 | $22.52B | +5.3% | $1.41 | -15.6% | 68.3% | 17.1% | 15.2% | $4.84B |
| FY2025 Q1 | $21.89B | +2.4% | $4.54 | +238.8% | 66.4% | 28.8% | 50.2% | $3.38B |
| FY2025 Q2 | $23.74B | +5.8% | $2.29 | +18.7% | 67.9% | 28.7% | 23.3% | $2.48B |
| FY2025 Q3 | $23.99B | +6.8% | $2.12 | +91.0% | 69.6% | 29.6% | 21.5% | $8.38B |
| FY2025 Q4 | $24.56B | +9.1% | $2.10 | +48.9% | 67.6% | 22.8% | 20.8% | $5.47B |
| FY2026 Q1 | $24.06B | +9.9% | $2.14 | -52.9% | 71.5% | 26.6% | 21.8% | $1.47B |
| FY2026 Q2 | $25.31B | +6.6% | $2.27 | -0.9% | 73.1% | 28.3% | 21.9% | — |
Management’s own words, often on a non-GAAP, constant-currency, or adjusted basis — so these can differ from the GAAP figures above (e.g. constant-currency revenue growth excludes currency swings).
| Analyst | Firm | Questions (Challenge)Percentage of questions scored as challenging — where the analyst pushed back, pressed for specifics, or questioned management's assumptions. |
|---|---|---|
| Terence Flynn | Morgan Stanley | 8 (13%) |
| Chris Schott | JPMorgan | 8 (13%) |
| Larry Biegelsen | Wells Fargo |
| Alex Hammond | Wolfe Research | 7 (0%) |
| Asad Haider | Goldman Sachs | 6 (0%) |
| Shagun Singh | RBC Capital Markets | 5 (20%) |
| Vamil Divan | Guggenheim | 5 (20%) |
| Joanne Wuensch | Citigroup | 4 (25%) |
| Danielle Antalffy | UBS | 4 (25%) |
| Matt Miksic | Barclays | 3 (0%) |
| Firm | Analysts | Questions (Challenge)Percentage of questions scored as challenging — where the analyst pushed back, pressed for specifics, or questioned management's assumptions. |
|---|---|---|
| JPMorgan | 1 | 8 (13%) |
| Morgan Stanley | 1 | 8 (13%) |
| Wolfe Research | 1 | 7 (0%) |
| Goldman Sachs | 2 | 7 (0%) |
| Wells Fargo | 1 | 7 (14%) |
| Guggenheim | 1 | 5 (20%) |
| RBC Capital Markets | 1 | 5 (20%) |
| UBS | 1 | 4 (25%) |
Johnson & Johnson posted Q1 2026 worldwide sales of $24.1 billion, up 6.4%, though adjusted EPS of $2.70 declined 2.5% versus Q1 2025 (adjusted net earnings of $6.6 billion declined 1.4%) due to front-loaded launch investments for ICOTYDE and margin pressure. TREMFYA delivered exceptional 63.8% growth with IBD momentum continuing, and the ICOTYDE launch was off to a fast start with strong demand, while STELARA biosimilar erosion created a 540 basis point headwind. FY2026 guidance was raised modestly with sales to $100.2 billion and EPS midpoint to $11.40, and the oncology portfolio drove strong double-digit growth.
Revenue Growth | Product Launch | Innovation & R&D | Competitive Dynamics | Capital Allocation | Demand | Regulation Policy | Margin | |
|---|---|---|---|---|---|---|---|---|
| 2024Q4 | 3 | 1 | 1 | 1 | 1 | 1 | 1 | |
| 2025Q1 | 3 | 1 | 1 | 3 | 1 | 1 | 1 | |
| 2025Q2 | 5 | 3 | 3 | 1 | 1 | |||
| 2025Q3 | 5 | 2 | 2 | 2 | 4 | 1 | 1 | |
| 2025Q4 | 3 | 1 | 4 | 2 | 2 | 3 | 1 | |
| 2026Q1 | 2 | 7 | 3 | 5 | 6 |
| '24Q4 | '25Q1 | '25Q2 | '25Q3 | '25Q4 | '26Q1 | |
|---|---|---|---|---|---|---|
| Revenue Growth | 3 | 3 | 5 | 5 | 3 | 2 |
| Product Launch | 1 | 1 | 3 | 2 | 1 | 7 |
| Innovation & R&D | 1 | 1 | 3 | 2 | 4 | 3 |
| Competitive Dynamics | 1 | 3 | 1 | 2 | 2 | 5 |
| Capital Allocation | 1 | 4 | 2 | |||
| Demand | 1 | 6 | ||||
| Regulation Policy | 1 | 1 | 1 | 3 | ||
| Margin | 1 | 1 | 1 | 1 | 1 |
What JNJ and other companies said about each other on FY2026 Q1 earnings calls — extracted verbatim from public transcripts. Mentions from the newest quarter are a Pro feature.
“Bayer, Johnson & Johnson, Mercedes and Roche all committed to 90,000 or more seats.”
Johnson & Johnson committed to 90,000+ M365 Copilot seats, indicating large-scale AI productivity tooling adoption.
“Medtronic continues to be a solid competitor, J&J is enhancing their footprint in PFA and Abbott is early stages of launch in the U.S.”
BSX notes Johnson & Johnson is enhancing its PFA footprint, a competitive pressure contributing to greater-than-expected EP share erosion.
“like the one we did earlier this year with Halda Therapeutics, which brings a new platform in our oncology business”
J&J cites its early-stage deal for Halda Therapeutics as adding a new oncology platform, a read-through that Halda's technology was acquired into J&J's cancer pipeline.
| Company | Score | Trend | Rev YoY |
|---|---|---|---|
JNJ Johnson & Johnson | 7 | +9.9% | |
| ABBV AbbVie | 9 | +12.4% | |
| AMGN Amgen Inc. | 8 | +5.8% | |
| BIIB Biogen | 4 | +1.9% | |
| BMY Bristol Myers Squibb | 4 | +2.6% | |
| GILD Gilead Sciences | 8 | +4.4% | |
| LLY Lilly (Eli) | 10 | +55.5% | |
| MRK Merck & Co., Inc. | 7 | +4.3% | |
| PFE Pfizer | 5 | +5.4% |