AbbVie vs Johnson & Johnson
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The short version
- Johnson & Johnson is the larger business, with $94.2B of revenue in fiscal 2025 against $61.2B for AbbVie, about 1.5 times as much.
- AbbVie grew revenue faster (8.6%, against 6.1%).
- AbbVie turned more of its sales into free cash flow (29.1% FCF margin, against 20.9%).
- Johnson & Johnson earned a higher return on the capital invested in it (28.6%, against 15.7%).
- Investors pay more for each dollar of AbbVie’s earnings: a P/E of 80.7x against 40.0x for Johnson & Johnson.
| Latest fiscal year | ABBV · FY25 | JNJ · FY25 |
|---|---|---|
| Size | ||
| Market cap | $505.9B | $646.0B |
| Revenue | $61.2B | $94.2B |
| Free cash flow | $17.8B | $19.7B |
| Net income | $4.2B | $26.8B |
| Growth | ||
| Revenue growth | 8.6% | 6.1% |
| 5-year growth | 6.0% | 2.7% |
| Share count change | 0.0% | 0.0% |
| Profitability | ||
| Gross margin | 70.2% | 67.9% |
| Operating margin | 24.7% | — |
| Net margin | 6.9% | 28.5% |
| FCF margin | 29.1% | 20.9% |
| Return on capital | 15.7% | 28.6% |
| Return on equity | — | 35.0% |
| Balance sheet | ||
| Net debt | $61.8B | $27.8B |
| Net debt / EBITDA | 2.7x | 0.7x |
| Dividends and buybacks | $12.6B | $18.3B |
| Valuation & quality | ||
| P/E | 80.7x | 40.0x |
| Piotroski F-score | 7 | 4 |
FY16
ABBV $25.6B
JNJ $71.9B
FY17
ABBV $28.2B
JNJ $76.5B
FY18
ABBV $32.8B
JNJ $81.6B
FY19
ABBV $33.3B
JNJ $82.1B
FY20
ABBV $45.8B
JNJ $82.6B
FY21
ABBV $56.2B
JNJ $78.7B
FY22
ABBV $58.1B
JNJ $80.0B
FY23
ABBV $54.3B
JNJ $85.2B
FY24
ABBV $56.3B
JNJ $88.8B
FY25
ABBV $61.2B
JNJ $94.2B
ABBV
JNJ
FY16
ABBV 36.4%
JNJ —
FY17
ABBV 33.8%
JNJ —
FY18
ABBV 19.5%
JNJ —
FY19
ABBV 39.0%
JNJ —
FY20
ABBV 24.8%
JNJ —
FY21
ABBV 31.9%
JNJ —
FY22
ABBV 31.2%
JNJ —
FY23
ABBV 23.5%
JNJ —
FY24
ABBV 16.2%
JNJ —
FY25
ABBV 24.7%
JNJ —
ABBV
JNJ
FY16
ABBV $6.6B
JNJ $15.5B
FY17
ABBV $9.4B
JNJ $17.8B
FY18
ABBV $12.8B
JNJ $18.5B
FY19
ABBV $12.8B
JNJ $19.9B
FY20
ABBV $16.8B
JNJ $20.2B
FY21
ABBV $22.0B
JNJ $19.8B
FY22
ABBV $24.2B
JNJ $17.2B
FY23
ABBV $22.1B
JNJ $18.2B
FY24
ABBV $17.8B
JNJ $19.8B
FY25
ABBV $17.8B
JNJ $19.7B
ABBV
JNJ
FY16
ABBV 22.7%
JNJ 31.7%
FY17
ABBV 19.4%
JNJ 14.1%
FY18
ABBV 22.6%
JNJ 22.0%
FY19
ABBV 56.5%
JNJ 22.2%
FY20
ABBV 20.9%
JNJ 21.1%
FY21
ABBV 18.6%
JNJ 24.0%
FY22
ABBV 20.8%
JNJ 19.5%
FY23
ABBV 15.5%
JNJ 16.5%
FY24
ABBV 15.0%
JNJ 18.5%
FY25
ABBV 15.7%
JNJ 28.6%
ABBV
JNJ
Each company's latest fiscal year; fiscal years end in different months. The best value in each row is highlighted where higher (or lower) is clearly better. Not investment advice.