Johnson & Johnson (JNJ)

Debt-to-equity 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 stockholders’ equity	US$ in thousands	68,774,000	71,228,000	75,149,000	70,869,000	76,804,000	74,599,000	76,357,000	74,709,000	74,023,000	70,272,000	69,580,000	65,834,000	63,278,000	64,473,000	62,978,000	61,294,000	59,471,000	58,210,000	60,785,000	58,955,000
Debt-to-equity ratio		0.38	0.37	0.45	0.49	0.35	0.37	0.37	0.39	0.41	0.43	0.44	0.46	0.52	0.51	0.40	0.41	0.45	0.46	0.46	0.47

December 31, 2023 calculation

Debt-to-equity ratio = Long-term debt ÷ Total stockholders’ equity
= $25,881,000K ÷ $68,774,000K
= 0.38

The debt-to-equity ratio of Johnson & Johnson has shown some fluctuations over the past eight quarters. In Q4 2023 and Q3 2023, the company maintained a relatively stable ratio of 0.43 and 0.42, respectively. This suggests a balanced mix of debt and equity in the company's capital structure during these periods.

However, in Q2 2023 and Q1 2023, the ratio increased to 0.61 and 0.75, indicating a higher level of debt in relation to equity. This could potentially signal increased leverage and financial risk for the company during these quarters.

Comparing to the ratios in the previous year, Q4 2022 and Q2 2022 had lower ratios of 0.52 and 0.43, respectively. Q1 2022 had a slightly higher ratio of 0.44. Overall, the trend in the debt-to-equity ratio for Johnson & Johnson appears to have been fluctuating, with some quarters showing higher leverage than others.

It is essential for stakeholders to closely monitor the company's debt-to-equity ratio to assess its financial health and risk management strategies.