JNJ
Johnson & Johnson
JNJ's outlook is improving despite an expensive valuation.
LLY
Eli Lilly and Company
LLY has the edge over JNJ overall, supported by stronger modeled upside and stronger valuation.
JNJ Fundamentals
| Metric | Status |
|---|---|
| Stable | |
| Stable | |
| Strong | |
| Healthy |
JNJ's cash flow and balance sheet are currently healthy, and its revenue and profitability are stable.
LLY Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Strong | |
| Strong | |
| Healthy |
LLY's revenue, profitability, cash flow and balance sheet are all currently healthy.
JNJ PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Cheap | 17x | $114 | -60% |
| Fair | 24x | $159 | -44% |
| Forward | 25x | $284 | — |
| Expensive | 29x | $191 | -33% |
| Current | 43x | $284 | — |
Historical ranges are pointers, not guarantees.
JNJ's PE is in its expensive range at 43x. If earnings grow as analysts expect, today's price would be 25x next year's earnings, in its fair range.
LLY PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Cheap | 27x | $845 | -41% |
| Forward | 30x | $1,427 | — |
| Current | 46x | $1,427 | — |
| Fair | 48x | $1,466 | +2.7% |
| Expensive | 85x | $2,612 | +83% |
Historical ranges are pointers, not guarantees.
LLY has the edge over JNJ in the historical PE scenario, which offers more potential upside but is not a forecast.
JNJ Forward outlook
| Metric | Outlook |
|---|---|
| Strongly improving | |
| Growth | |
| Growth | |
| Stable | |
| Limited | |
| Moderate |
Analysts expect earnings and revenue growth for JNJ, with profitability holding steady.
LLY Forward outlook
| Metric | Outlook |
|---|---|
| Strongly improving | |
| Strong growth | |
| Strong growth | |
| Strongly improving | |
| Limited | |
| Moderate |
LLY has the edge over JNJ on the outlook, with more favorable profitability expectations.
JNJ Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $11.26 | +71% |
| Q3 2026 | $6.58 | -36% |
| Q2 2026 | $8.61 | -7.9% |
| Q1 2026 | $8.63 | -4% |
| Q4 2025 | $11.03 | +91% |
| Q3 2025 | $10.36 | +71% |
| Q2 2025 | $9.35 | -38% |
| Q1 2025 | $8.99 | -41% |
| Q4 2024 | $5.79 | -58% |
JNJ's earnings per share have fallen from their peak: $6.58 over the past year, against $15.18 in early 2024.
LLY Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $46.82 | +52% |
| Q3 2026 | $30.81 | +51% |
| Q2 2026 | $29.80 | +95% |
| Q1 2026 | $28.15 | +129% |
| Q4 2025 | $22.95 | +96% |
| Q3 2025 | $20.44 | +121% |
| Q2 2025 | $15.30 | +88% |
| Q1 2025 | $12.29 | +81% |
| Q4 2024 | $11.71 | +102% |
LLY has the edge over JNJ on earnings, with more consistent year-over-year improvement.
JNJ Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $25.4B | +5.9% |
| Q2 2026 | $25.3B | +6.6% |
| Q1 2026 | $24.1B | +9.9% |
| Q4 2025 | $24.6B | +9.1% |
| Q3 2025 | $24B | +6.8% |
| Q2 2025 | $23.7B | +5.8% |
| Q1 2025 | $21.9B | +2.4% |
| Q4 2024 | $22.5B | +5.3% |
JNJ's revenue has grown year over year for nine quarters in a row: $25.4B last quarter, up 5.9% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 0.1% | -31 points |
| Q2 2026 | 27% | -0.7 points |
| Q1 2026 | 25% | -37 points |
| Q4 2025 | 20% | +3 points |
| Q3 2025 | 31% | +16 points |
| Q2 2025 | 27% | +1.7 points |
| Q1 2025 | 62% | +45 points |
| Q4 2024 | 17% | -5.3 points |
JNJ's operating margin was 0.1% last quarter, down 31 points from the same quarter a year ago, near the bottom of its range since 2019.
LLY Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $24.4B | +39% |
| Q2 2026 | $23B | +48% |
| Q1 2026 | $19.8B | +56% |
| Q4 2025 | $19.3B | +43% |
| Q3 2025 | $17.6B | +54% |
| Q2 2025 | $15.6B | +38% |
| Q1 2025 | $12.7B | +45% |
| Q4 2024 | $13.5B | +45% |
LLY has the edge over JNJ on sales, with stronger typical year-over-year growth.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 34% | -6.6 points |
| Q2 2026 | 40% | -3.3 points |
| Q1 2026 | 45% | +18 points |
| Q4 2025 | 43% | +5.6 points |
| Q3 2025 | 41% | +27 points |
| Q2 2025 | 44% | +12 points |
| Q1 2025 | 27% | -1.8 points |
| Q4 2024 | 37% | +10 points |
LLY has the edge over JNJ on profitability, with a higher operating margin.
JNJ Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $6.4B | -21% |
| Q2 2026 | $7.3B | +157% |
| Q1 2026 | $1.5B | -57% |
| Q4 2025 | $5.5B | +1.9% |
| Q3 2025 | $8B | +15% |
| Q2 2025 | $2.8B | -39% |
| Q1 2025 | $3.4B | +19% |
| Q4 2024 | $5.4B | -14% |
JNJ's free cash flow has been positive every quarter for seven years: $20.6B over the past year, up 5.1% from the year before.
LLY Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $8.2B | +22% |
| Q2 2026 | $7.8B | +458% |
| Q1 2026 | $3B | +1826% |
| Q4 2025 | $677.9M | -31% |
| Q3 2025 | $6.7B | +186% |
| Q2 2025 | $1.4B | +476% |
| Q1 2025 | $156.1M | -13% |
| Q4 2024 | $977.8M | +$2.4B |
LLY has the edge over JNJ on cash flow, with more consistent year-over-year improvement.
JNJ Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +0.3% | +8.5M shares |
| 1 year | +0.8% | +20M shares |
| 3 years | -4% | -101M shares |
| 5 years | -8.5% | -226M shares |
| Available history | -8.8% | -236M shares |
JNJ has 2.4B diluted shares, up 0.8% from a year ago, despite $7.9B in buybacks over the past year.
| Quarter | Spent |
|---|---|
| Q3 2026 | $1.7B |
| Q2 2026 | $221M |
| Q1 2026 | $4B |
| Q4 2025 | $1.9B |
| Q3 2025 | $1.9B |
| Q2 2025 | — |
| Q1 2025 | $2.1B |
| Q4 2024 | $282M |
JNJ spent $7.9B buying back its own shares over the past year, up 83% from the year before.
LLY Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | 0% | -300K shares |
| 1 year | -0.6% | -5.4M shares |
| 3 years | -0.7% | -6.4M shares |
| 5 years | -1.9% | -17.4M shares |
| Available history | -4.5% | -42.3M shares |
LLY has the edge over JNJ on shareholder dilution, with a more favorable share count trend.
| Quarter | Spent |
|---|---|
| Q3 2026 | $377M |
| Q2 2026 | $1.6B |
| Q1 2026 | $2.4B |
| Q4 2025 | $1.5B |
| Q3 2025 | $708.1M |
| Q2 2025 | $692.2M |
| Q1 2025 | $1.2B |
| Q4 2024 | $2.1B |
LLY spent $5.8B buying back its own shares over the past year, up 26% from the year before.
JNJ Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 1.1x | Healthy |
| Q2 2026 | 0.9x | Very low |
| Q1 2026 | 1.0x | Healthy |
| Q4 2025 | 0.7x | Very low |
| Q3 2025 | 0.7x | Very low |
| Q2 2025 | 0.9x | Very low |
| Q1 2025 | 0.4x | Very low |
| Q4 2024 | 0.5x | Very low |
JNJ has the edge over LLY on leverage, with a lower net debt burden relative to earnings.
LLY Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 1.2x | Healthy |
| Q2 2026 | 1.3x | Healthy |
| Q1 2026 | 1.2x | Healthy |
| Q4 2025 | 1.3x | Healthy |
| Q3 2025 | 1.3x | Healthy |
| Q2 2025 | 2.0x | Healthy |
| Q1 2025 | 2.3x | Moderate |
| Q4 2024 | 2.1x | Moderate |
LLY's net debt is about 1.2 years of its operating earnings (EBITDA), about the same as a year ago.
JNJ Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 64.5 | Neutral |
| Stochastic | 84.7 | Overbought |
JNJ's weekly RSI is 65 (neutral) and its Stochastic is 85 (overbought).
LLY Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 68.3 | Neutral |
| Stochastic | 84.1 | Overbought |
LLY's weekly RSI is 68 (neutral) and its Stochastic is 84 (overbought).
JNJ PE vs Healthcare Sector
| Metric | JNJ | Sector median | Relative |
|---|---|---|---|
| PE | 43x | 26x | 67% above |
| PE % | 100 | 29 | 71 pts above |
JNJ has the edge over LLY on valuation relative to its sector.
LLY PE vs Healthcare Sector
| Metric | LLY | Sector median | Relative |
|---|---|---|---|
| PE | 46x | 26x | 79% above |
| PE % | 48 | 29 | 19 pts above |
LLY is trading at 46x earnings, a 79% premium to the Healthcare sector's median of 26x.
JNJ Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $267.6 | 5.9% above |
| 20 week MA | $265.1 | 6.9% above |
| 50 week MA | $243.5 | 16% above |
| 100 week MA | $204.7 | 39% above |
| 200 week MA | $181.3 | 56% above |
JNJ is in an uptrend: it's above all five of its weekly moving averages, and 56% above its 200-week average.
LLY Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $1,279.4 | 12% above |
| 20 week MA | $1,218.8 | 17% above |
| 50 week MA | $1,102.2 | 29% above |
| 100 week MA | $954.1 | 50% above |
| 200 week MA | $797.5 | 79% above |
LLY is in an uptrend: it's above all five of its weekly moving averages, and 79% above its 200-week average.
JNJ Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $145.8 | $152.5 | +4.6% |
| 2021 | $152.5 | $168.3 | +10% |
| 2022 | $168.3 | $177.5 | +5.5% |
| 2023 | $177.5 | $156.7 | -12% |
| 2024 | $156.7 | $145.1 | -7.5% |
| 2025 | $145.1 | $207.6 | +43% |
| 2026 YTD | $207.6 | $283.5 | +37% |
JNJ has the edge over LLY on returns for 2026, with the stronger performance.
LLY Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $131.5 | $166.7 | +27% |
| 2021 | $166.7 | $273.1 | +64% |
| 2022 | $273.1 | $367.9 | +35% |
| 2023 | $367.9 | $582.9 | +58% |
| 2024 | $582.9 | $783.2 | +34% |
| 2025 | $783.2 | $1,077.8 | +38% |
| 2026 YTD | $1,077.8 | $1,427.3 | +32% |
LLY has finished every year since 2020 higher, and it's up 32% so far in 2026.