Johnson & Johnson vs Moderna
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KIRAβs take AI analyst
I put Johnson & Johnson and Moderna side by side, using each oneβs latest annual report. Here is what stands out:
- Johnson & Johnson is the larger business, with $94.2B of revenue in fiscal 2025 against $1.9B for Moderna, about 48 times as much.
- Johnson & Johnson grew revenue faster (6.1%, against β39.9%).
- Johnson & Johnson turned more of its sales into free cash flow (20.9% FCF margin, against β106.2%).
- Johnson & Johnson earned a higher return on the capital invested in it (28.6%, against β65.4%).
Who comes out ahead
Of the 9 measures where higher (or lower) is clearly better, how many each company leads.
Johnson & Johnson
JNJ
8/9
Revenue growthGross marginNet marginFCF marginReturn on capitalReturn on equityPiotroski F-scoreShare count change
Moderna
MRNA
1/9
5-year growth
Side by side
Best in the row
| Latest fiscal year | JNJ FY25 | MRNA FY25 |
|---|---|---|
| Size | ||
| Market cap | $652.1B | $79.1B |
| Revenue | $94.2B | $1.9B |
| Free cash flow | $19.7B | β$2.1B |
| Net income | $26.8B | β$2.8B |
| Growth | ||
| Revenue growth | 6.1% | β39.9% |
| 5-year growth | 2.7% | 19.3% |
| Share count change | 0.0% | 1.3% |
| Profitability | ||
| Gross margin | 67.9% | 55.4% |
| Operating margin | β | β158.1% |
| Net margin | 28.5% | β145.2% |
| FCF margin | 20.9% | β106.2% |
| Return on capital | 28.6% | β65.4% |
| Return on equity | 35.0% | β28.9% |
| Balance sheet | ||
| Net debt | $27.8B | β$5.2B |
| Net debt / EBITDA | 0.7x | β |
| Dividends and buybacks | $18.3B | $2.0M |
| Valuation & quality | ||
| P/E | 40.4x | β |
| Piotroski F-score | 4 | 2 |
Ten years
Revenue
Operating margin
Free cash flow
Return on capital
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.