Johnson & Johnson (JNJ)

Financial leverage ratio

		Dec 31, 2024	Sep 30, 2024	Jun 30, 2024	Mar 31, 2024	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
Total assets	US$ in thousands	180,104,000	178,287,000	181,088,000	171,966,000	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
Total stockholders’ equity	US$ in thousands	71,490,000	70,158,000	71,538,000	70,020,000	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
Financial leverage ratio		2.52	2.54	2.53	2.46	2.44	2.33	2.55	2.77	2.44	2.35	2.33	2.39	2.46	2.55	2.54	2.62	2.76	2.65	2.51	2.53

December 31, 2024 calculation

Financial leverage ratio = Total assets ÷ Total stockholders’ equity
= $180,104,000K ÷ $71,490,000K
= 2.52

Johnson & Johnson's financial leverage ratio has shown some fluctuations over the past few years. The ratio was relatively stable around the range of 2.5 to 2.6 from March 2020 to June 2021. However, there was a notable increase in the ratio by the end of March 2022 to 2.77, indicating higher financial leverage during that period. The ratio then decreased gradually to 2.33 by September 2022 before picking up again. These fluctuations suggest potential changes in the company's capital structure and debt levels during the period under review. Overall, Johnson & Johnson's financial leverage ratio has experienced some variability but has generally remained within a reasonably consistent range over the years.