Johnson & Johnson (JNJ)
Debt-to-assets ratio
| Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Long-term debt | US$ in thousands | 25,881,000 | 26,051,000 | 33,901,000 | 34,928,000 | 26,886,000 | 27,603,000 | 28,292,000 | 28,851,000 | 29,985,000 | 30,130,000 | 30,310,000 | 30,263,000 | 32,635,000 | 32,680,000 | 25,062,000 | 25,393,000 | 26,494,000 | 26,919,000 | 27,699,000 | 27,660,000 |
| Total assets | US$ in thousands | 167,558,000 | 166,061,000 | 191,686,000 | 195,969,000 | 187,378,000 | 175,124,000 | 177,724,000 | 178,355,000 | 182,018,000 | 179,228,000 | 176,440,000 | 172,557,000 | 174,894,000 | 170,693,000 | 158,380,000 | 155,017,000 | 157,728,000 | 155,521,000 | 155,117,000 | 150,027,000 |
| Debt-to-assets ratio | 0.15 | 0.16 | 0.18 | 0.18 | 0.14 | 0.16 | 0.16 | 0.16 | 0.16 | 0.17 | 0.17 | 0.18 | 0.19 | 0.19 | 0.16 | 0.16 | 0.17 | 0.17 | 0.18 | 0.18 |
December 31, 2023 calculation
Debt-to-assets ratio = Long-term debt ÷ Total assets
= $25,881,000K ÷ $167,558,000K
= 0.15
The debt-to-assets ratio of Johnson & Johnson has shown some fluctuations over the past eight quarters. In Q1 2023, the ratio was at its highest point of 0.27, indicating that 27% of the company's assets were financed by debt. This was followed by a decrease in Q2 2023 to 0.24, suggesting a slight reduction in the proportion of debt used to finance assets.
Subsequently, in Q3 2023 and Q4 2023, the debt-to-assets ratio remained constant at 0.18, indicating that 18% of the company's assets were funded by debt during this period. This trend was consistent with the ratio observed in Q2 and Q3 of 2022.
Overall, the debt-to-assets ratio of Johnson & Johnson has been relatively stable, with the company maintaining a conservative approach to leverage by using a lower proportion of debt to fund its assets. This indicates a strong financial position and lower financial risk, as the company relies more on its equity and other sources of funding rather than excessive debt financing.
Peer comparison
Dec 31, 2023