Johnson & Johnson has increased its dividend for 63 consecutive years, earning its place among the exclusive Dividend Kings. The company currently offers a 2.4% dividend yield—double the S&P 500 average—underscoring its commitment to returning cash to shareholders. Last year’s dividend payments totaled $12.4 billion, fully covered by free cash flow and leaving ample room for future hikes.

In fiscal 2025, Johnson & Johnson generated $94.2 billion in total sales, a 6% year-over-year increase, and reported $26.2 billion in adjusted net earnings, up more than 8%. Free cash flow reached $19.7 billion, slightly below the prior year but more than sufficient to fund dividends and strategic initiatives. The balance sheet ended the year with $20 billion in cash and marketable securities against $48 billion in debt, yielding a net debt of $28 billion and supporting the company’s AAA bond rating.

Management projects 2026 sales growth exceeding 6%, with total revenue topping $100 billion, and anticipates adjusted earnings-per-share growth of 6% to 8%. Core drivers include continued uptake of innovative medicines—particularly in oncology and immunology—and expanding medical technology platforms. R&D investment totaled $14.7 billion in 2025, fueling a robust pipeline and underpinning medium-term revenue visibility.

Johnson & Johnson’s disciplined M&A strategy enhances its therapeutic and device portfolios. In April 2025, the company closed its $14.6 billion acquisition of Intra-Cellular Therapies to strengthen neuroscience leadership, and in December it completed a $3.1 billion purchase of Halda Therapeutics, advancing its oncology pipeline. These landmark deals complement organic innovation and are expected to contribute meaningfully to sales and margins over the coming years.