Johnson & Johnson (JNJ) FCF Payout Ratio: 71.50%
Is Johnson & Johnson’s FCF payout ratio high or low?
Johnson & Johnson's FCF payout ratio of 71.50% is 18% above its 5-year average of 60.44%, near the high end of its 5-year range (51.91%–67.98%).
The FCF payout ratio for Johnson & Johnson (JNJ) is 71.50%. It is above its 12-month average by 16.79% (61.22%).
JNJ FCF Payout Ratio Chart
JNJ Average FCF Payout Ratio Chart
JNJ Current vs Average FCF Payout Ratio Chart
JNJ FCF Payout Ratio Metrics
FCF PAYOUT RATIO
71.50%
FCF PAYOUT RATIO AVG TTM
61.22%
FCF PAYOUT RATIO AVG 3Y
63.73%
FCF PAYOUT RATIO AVG 5Y
60.44%
FCF PAYOUT RATIO AVG 10Y
56.47%
FCF PAYOUT RATIO AVG 15Y
54.69%
FCF PAYOUT RATIO AVG 20Y
51.04%
CURRENT VS TTM AVG
+16.79%
CURRENT VS 3Y AVG
+12.19%
CURRENT VS 5Y AVG
+18.29%
CURRENT VS 10Y AVG
+26.62%
CURRENT VS 15Y AVG
+30.74%
CURRENT VS 20Y AVG
+40.08%
Payout Ratio Comparison
FCF Payout Ratio
71.5%
Earnings Payout Ratio
47.5%
Dividend Yield
2.20%
FCF Yield
3.05%
Annual FCF Payout Ratio History
| Year | Free Cash Flow | Dividends Paid | FCF Payout Ratio |
|---|---|---|---|
| 2025 | $19.70B | $12.38B | 62.9% |
| 2024 | $19.84B | $11.82B | 59.6% |
| 2023 | $17.18B | $11.68B | 68.0% |
| 2023 | $18.25B | $11.77B | 64.5% |
| 2022 | $19.76B | $11.03B | 55.8% |
| 2021 | $20.19B | $10.48B | 51.9% |
| 2019 | $19.92B | $9.92B | 49.8% |
| 2018 | $18.53B | $9.49B | 51.2% |
| 2017 | $17.78B | $8.94B | 50.3% |
| 2016 | $15.54B | $8.62B | 55.5% |
| 2015 | $15.82B | $8.17B | 51.7% |
| 2014 | $14.76B | $7.77B | 52.6% |
| 2013 | $13.82B | $7.29B | 52.7% |
| 2012 | $12.46B | $6.61B | 53.1% |
| 2011 | $11.40B | $6.16B | 54.0% |
| 2010 | $14.00B | $5.80B | 41.5% |
| 2009 | $14.21B | $5.33B | 37.5% |
| 2008 | $11.91B | $5.02B | 42.2% |
| 2007 | $11.94B | $4.67B | 39.1% |
| 2006 | $11.51B | $4.27B | 37.1% |
| 2005 | $9.24B | $3.79B | 41.0% |
| 2004 | $8.96B | $3.25B | 36.3% |
| 2003 | $8.33B | $2.75B | 33.0% |
| 2002 | $6.08B | $2.38B | 39.2% |
| 2001 | $7.13B | $2.05B | 28.7% |
| 2000 | $4.92B | $1.72B | 35.1% |
| 1999 | $3.68B | $1.48B | 40.2% |
| 1998 | ($55.00M) | $1.30B | N/A (Loss) |
| 1997 | $2.95B | $1.14B | 38.5% |
| 1996 | $2.52B | $974.00M | 38.7% |
Formula: FCF Payout Ratio = Dividends Paid / Free Cash Flow × 100
FCF payout and earnings payout:
- FCF represents operating cash flow after capital expenditures
- FCF payout compares dividends paid with free cash flow
- FCF payout above 100% means dividends paid exceeded free cash flow for the period
- Earnings payout compares dividends paid with net income
Reading the series: Use the chart and table to compare dividend payments with cash generation over time.
Johnson & Johnson FCF Payout Ratio Formula & Definition
FCF Payout Ratio measures what percentage of free cash flow is paid out as dividends. Unlike earnings-based payout, it compares dividends with cash generated after capital expenditures.
Expanded definitions: Investopedia, Wikipedia, Corporate Finance Institute
Johnson & Johnson FCF Payout Ratio FAQ
- What is the FCF payout ratio for Johnson & Johnson (JNJ)?
- The FCF payout ratio for JNJ stock is 71.50%.
- Is Johnson & Johnson's FCF payout ratio high or low?
- Johnson & Johnson's FCF payout ratio of 71.50% is 18% above its 5-year average of 60.44%, near the high end of its 5-year range (51.91%–67.98%).
- What is the TTM average FCF payout ratio for Johnson & Johnson (JNJ)?
- The TTM average FCF payout ratio for JNJ stock is 61.22%.
- What is the 3Y average FCF payout ratio for Johnson & Johnson (JNJ)?
- The 3Y average FCF payout ratio for JNJ stock is 63.73%.
- What is the 5Y average FCF payout ratio for Johnson & Johnson (JNJ)?
- The 5Y average FCF payout ratio for JNJ stock is 60.44%.
- What is the 10Y average FCF payout ratio for Johnson & Johnson (JNJ)?
- The 10Y average FCF payout ratio for JNJ stock is 56.47%.
- What is the 15Y average FCF payout ratio for Johnson & Johnson (JNJ)?
- The 15Y average FCF payout ratio for JNJ stock is 54.69%.
- What is the 20Y average FCF payout ratio for Johnson & Johnson (JNJ)?
- The 20Y average FCF payout ratio for JNJ stock is 51.04%.
Johnson & Johnson FCF Payout Ratio History
| DATE | FCF PAYOUT RATIO |
|---|---|
| 2025-12-28 | 62.85% |
| 2024-12-29 | 59.59% |
| 2023-12-31 | 64.50% |
| 2023-01-01 | 67.98% |
| 2022-01-02 | 55.84% |
| 2021-01-03 | 51.91% |
| 2019-12-31 | 49.79% |
| 2018-12-31 | 51.23% |
| 2017-12-31 | 50.31% |
| 2016-12-31 | 55.47% |
| 2015-12-31 | 51.68% |
| 2014-12-31 | 52.64% |
| 2013-12-31 | 52.72% |
| 2012-12-31 | 53.07% |
| 2011-12-31 | 53.98% |
| 2010-12-31 | 41.45% |
| 2009-12-31 | 37.50% |
| 2008-12-31 | 42.20% |
| 2007-12-31 | 39.12% |
| 2006-12-31 | 37.07% |
| 2005-12-31 | 41.03% |
| 2004-12-31 | 36.30% |
| 2003-12-31 | 32.95% |
| 2002-12-31 | 39.18% |
| 2001-12-31 | 28.70% |
| 2000-12-31 | 35.06% |
| 1999-12-31 | 40.21% |
| 1997-12-31 | 38.52% |
| 1996-12-31 | 38.68% |
About Johnson & Johnson
Johnson & Johnson (JNJ) operates globally, engaging in the research, development, production, and distribution of a diverse range of healthcare products. In a pivotal strategic move in 2023, the company divested its Consumer Health division, establishing it as the independent entity Kenvue Inc. This separation was implemented to allow J&J to sharpen its focus on higher-growth, innovation-led areas. Consequently, well-known consumer brands like TYLENOL, LISTERINE, and BAND-AID are now part of Kenvue's portfolio. Johnson & Johnson's current operations are centered around two primary divisions: Innovative Medicine and MedTech. The Innovative Medicine segment, formerly known as Pharmaceuticals, specializes in prescription drugs designed to treat complex ailments such as rheumatoid arthritis, various forms of cancer, HIV/AIDS, and neurodegenerative disorders. Its MedTech division, encompassing Medical Devices, delivers cutting-edge technological solutions, including electrophysiology equipment, neurovascular care products, orthopaedic implants for hips, knees, and spine, advanced surgical technologies, and ACUVUE brand disposable contact lenses. These two streamlined segments primarily cater to a client base comprising hospitals, medical professionals, wholesale distributors, and retail outlets. From its headquarters in New Brunswick, New Jersey, Johnson & Johnson continues to uphold its enduring mission of advancing human health, a commitment it has maintained since its founding in 1886.
- Sector
- Healthcare
- Industry
- Drug Manufacturers - General
- CEO
- Joaquin Duato