Johnson & Johnson vs Novo Nordisk A/S: Business Model & Financial Comparison 2026
Johnson & Johnson · Healthcare / Drug Manufacturers - General·Novo Nordisk A/S · Healthcare / Drug Manufacturers - General
Financial Comparison
| Metric | JNJJohnson & Johnson | NVONovo Nordisk A/S |
|---|---|---|
| Market Cap | $582.04B | $169.29B |
| Revenue (TTM) | $94.19B | $309.06B |
| Revenue Growth | 9.1% | -7.6% |
| Gross Margin | 68.1% | 82.4% |
| Operating Margin | 24.0% | 44.5% |
| Net Margin | 28.5% | 33.1% |
| Return on Equity | 35.0% | 60.7% |
| P/E (Trailing) | 21.9x | 10.7x |
| P/E (Forward) | 19.2x | 11.4x |
| Free Cash Flow | $16.63B | $376.9M |
| Cash | $20.10B | $26.96B |
| Total Debt | $49.33B | $130.96B |
Data sourced from Yahoo Finance. Green highlights indicate better performance for that metric. Use the interactive tool for real-time data.
Business Model Comparison
Johnson & Johnson
Johnson & Johnson stands as a leading company in Healthcare. Generating $94.19 billion in annual revenue (growing 9.1% year-over-year) and carrying a market capitalization of $577.48 billion, the company has cemented its position as a foundational player in the global Drug Manufacturers - General landscape. Under the leadership of its leadership team, Johnson & Johnson continues to execute on a multi-year strategic vision that balances growth inv…
Full Johnson & Johnson analysis →Novo Nordisk A/S
Novo Nordisk A/S stands as a leading company in Healthcare. Generating $309.06 billion in annual revenue (growing -7.6% year-over-year) and carrying a market capitalization of $173.66 billion, the company has cemented its position as a foundational player in the global Drug Manufacturers - General landscape. Under the leadership of its leadership team, Novo Nordisk A/S continues to execute on a multi-year strategic vision that balances growth inv…
Full Novo Nordisk A/S analysis →SWOT Analysis Comparison
Strengths
Johnson & Johnson
- With a market capitalization of $577.48B, Johnson & Johnson is one of the largest companies in its sector, providing the scale advantages of brand recognition, supplier leverage, and capital access th
- Johnson & Johnson's gross margin of 68.1% is well above industry averages, reflecting pricing power, operational efficiency, or a high-value product mix. The operating margin of 24.0% demonstrates dis
- A return on equity of 35.0% demonstrates that Johnson & Johnson generates strong returns from shareholder capital, a hallmark of companies with durable competitive advantages.
Novo Nordisk A/S
- With a market capitalization of $173.66B, Novo Nordisk A/S is one of the largest companies in its sector, providing the scale advantages of brand recognition, supplier leverage, and capital access tha
- Novo Nordisk A/S's gross margin of 82.4% is well above industry averages, reflecting pricing power, operational efficiency, or a high-value product mix. The operating margin of 44.5% demonstrates disc
- A return on equity of 60.7% demonstrates that Novo Nordisk A/S generates strong returns from shareholder capital, a hallmark of companies with durable competitive advantages.
Weaknesses
Johnson & Johnson
- Johnson & Johnson's debt-to-equity ratio of 60.5 indicates meaningful financial leverage. Total debt stands at $49.33B against $20.10B in cash and equivalents.
- With 138,200 employees globally, Johnson & Johnson faces inherent challenges in agility, decision-making speed, and maintaining a consistent culture across geographies — advantages that smaller, nimbl
Novo Nordisk A/S
- Novo Nordisk A/S's debt-to-equity ratio of 67.5 indicates meaningful financial leverage. Total debt stands at $130.96B against $26.96B in cash and equivalents.
- Year-over-year revenue declined 7.6%, raising questions about demand for Novo Nordisk A/S's core offerings and requiring management to articulate a credible recovery path.
Opportunities
Johnson & Johnson
- Johnson & Johnson operates in the Drug Manufacturers - General segment of the broader Healthcare sector, which represents a $12 trillion global healthcare market by 2030. Even modest share gains in th
- Emerging markets — particularly India (1.4B people, rapidly growing middle class), Southeast Asia (700M people), and Sub-Saharan Africa — represent significant untapped addressable markets for Johnson
- Earnings growth of 48.6% YoY demonstrates Johnson & Johnson's ability to convert revenue growth into shareholder value. Analysts project continued earnings expansion driven by operating leverage as fi
Novo Nordisk A/S
- Novo Nordisk A/S operates in the Drug Manufacturers - General segment of the broader Healthcare sector, which represents a $12 trillion global healthcare market by 2030. Even modest share gains in thi
- Emerging markets — particularly India (1.4B people, rapidly growing middle class), Southeast Asia (700M people), and Sub-Saharan Africa — represent significant untapped addressable markets for Novo No
- With $26.96B in cash and strong free cash flow generation, Novo Nordisk A/S is well-positioned to pursue strategic acquisitions that expand its capabilities, customer base, or geographic reach.
Threats
Johnson & Johnson
- Global economic slowdowns, inflation, or rising interest rates can reduce consumer and enterprise spending. Johnson & Johnson's revenue is not fully insulated from macroeconomic cycles, and a recessio
- Increasing government regulation — particularly data privacy laws (GDPR, CCPA), antitrust enforcement, and trade restrictions — poses compliance costs and potential restrictions on Johnson & Johnson's
- Competition for skilled technology, engineering, and management talent remains intense. High employee turnover or inability to attract top talent could slow innovation and execution — particularly cri
Novo Nordisk A/S
- Global economic slowdowns, inflation, or rising interest rates can reduce consumer and enterprise spending. Novo Nordisk A/S's revenue is not fully insulated from macroeconomic cycles, and a recession
- Increasing government regulation — particularly data privacy laws (GDPR, CCPA), antitrust enforcement, and trade restrictions — poses compliance costs and potential restrictions on Novo Nordisk A/S's
- Competition for skilled technology, engineering, and management talent remains intense. High employee turnover or inability to attract top talent could slow innovation and execution — particularly cri
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Open Comparison ToolJohnson & Johnson vs Novo Nordisk A/S: FAQ
- Is Johnson & Johnson bigger than Novo Nordisk A/S?
- By market capitalization, Johnson & Johnson is larger at $582.04B vs Novo Nordisk A/S's $169.29B.
- Which has better profit margins — Johnson & Johnson or Novo Nordisk A/S?
- Novo Nordisk A/S has higher net profit margins (33.1%) compared to Johnson & Johnson (28.5%). Gross and operating margins are compared in the table above.
- What sectors do Johnson & Johnson and Novo Nordisk A/S operate in?
- Johnson & Johnson operates in the Healthcare sector (Drug Manufacturers - General). Novo Nordisk A/S operates in the Healthcare sector (Drug Manufacturers - General).
- How does Johnson & Johnson's revenue compare to Novo Nordisk A/S's?
- Johnson & Johnson generates $94.19B in annual revenue (TTM) while Novo Nordisk A/S generates $309.06B. Novo Nordisk A/S is the larger company by revenue as of 2026.