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JOHNSON & JOHNSON - FINANCIAL PERFORMANCE EVALUATION
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Johnson & Johnson - financial ratios analysis, balance sheet & income statement, payback period, accounting rate of return, Net Present Value
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JOHNSON & JOHNSON - FINANCIAL PERFORMANCEEVALUATION
ASSESSMENT 1
MODULE TITLE: FINANCIAL MANAGEMENT LCMB7002
LECTURER: JIA MIAO
STUDENT NAME: NADEZHDA KITANOVA
STUDENT NUMBER: 1918675
University of Wales Trinity Saint David
, 1. JOHNSON & JOHNSON INC. - HISTORY, CORPORATE INFO, MARKET POSITION
Johnson & Johnson is a multinational corporation founded in 1886 in the USA. Alex Gorsky
is the current CEO of Johnson & Johnson. He assumed this position on April 26, 2012.
Gorsky started working for Johnson & Johnson in 1988 for Janssen Pharmaceutica as a
sales representative. The company operates into three major segments: Pharmaceuticals,
Medical Devices, and Consumer Products. In 2015, these segments contributed to the total
revenue with 44.9%, 35.9%, and 19.2%, respectively. Among its well-known consumer
products are the Tylenol medications, Johnson's Baby products, Neutrogena skin and beauty
products, Acuvue contact lenses. It completed its IPO and became a public company in
1944. Currently their stock market price has remained stable, being $150/ per share in the
last 6 months. Nowadays, Johnson & Johnson is one of the largest corporations by total
revenue in the USA, ranking among the top 50 according to Fortune magazine. The
company’ business success is due to its aggressive acquisition strategy, achieved
economies of scale and global presence. The corporation includes 250 subsidiary
companies with operations in 60 countries and products marketed in over 175 countries. It
reported revenues of US$82,059 million for the FY2019, marking an increase of 0.6% over
FY2018. In FY2019, the company’s operating margin was 21.1%, compared to an operating
margin of 22.1% in FY2018. In FY2019, the company recorded a net margin of 18.4%,
compared to a net margin of 18.8% in FY2018. The company reported revenues of
US$20,691 million for the first quarter ended March 2020, a decrease of 0.3% over the
previous quarter, which is mainly due to the global stagnation caused by COVID-19
pandemic. Its biggest competitors are Bayer (€43.5b revenue FY2019), Procter & Gamble
($71b FY, 2020) Pfizer ($51.8b FY, 2019), Unilever (€52b FY2019), Novartis ($47.4b FY,
2019), Abbot ($31.9b FY, 2019). Currently the company is focusing on the development of a
COVID-19 vaccine, receiving support funding from the US government. The company is
involved in a series of litigation, resulting in billions of legal losses and product recalls.
Multiple claims that Johnson & Johnson's baby powder causes ovarian cancer has cost the
company billions of dollars with the most recent case as of December 19, when the
company failed to reverse a jury verdict that awarded $4.14 billion in punitive damages and
$550 million in compensatory damages for the company. Other acquisitions include foreign
bribery, consumer fraud, illegal marketing. On the other side, the company is a leading
player in the global health care supplies market with 6.7% share of the market’s value and in
the healthcare equipment sector - with 15% share of the market.
1. JOHNSON & JOHNSON - FINANCIAL PERFORMANCE ANALYSIS. CRITICAL
REVIEW
A) BALANCE SHEET & INCOME STATEMENT (APPENDIX A)
In terms of financial success, Johnson and Johnson has stayed relatively constant over time.
This can be seen by analyzing two key factors. The first factor is total assets, which from
2015 to 2019 has increased only by 0.2%. On the other side, total liabilities increased with
approximately 0.4% between 2015 and 2019. Although the numbers in each specific section
vary, the balance sheet of Johnson & Johnson displays consistent liabilities and slight
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