Johnson & Johnson

Company facts

Industry

Pharmaceutical Preparations

Headquarters

New Brunswick, New Jersey

Most recent report

10-Q, filed Oct 21, 2026

Incorporated

New Jersey

Filings on record

1,000+ filings

On EDGAR

CIK 200406

Fiscal year ends

January

Filer status

Large accelerated filer

What to read: Sep 2026 10-Q

SECSift found 2 of 10 sections worth reading, with 0 positive, 7 notable, and 5 negative flags.

• Financial Statements (Item 1)

  Talc litigation reserve of $9.0B, $5.5B new accrual, and $0.8B judgment paid dominate earnings.
  Notable

  • Recorded a $1.0B IPR&D charge in Q3 2026 for the Firefly Bio acquisition, an asset acquisition.
  Negative

  • Orthopaedics separation costs were $0.4B in Q3 2026 and $0.7B YTD; separation expected by mid-2027.
  • Total talc reserve is ~$9.0B as of Q3 2026, with $5.5B new accrual for ovarian settlement; half is current.
  • Paid a $0.8B judgment in January 2026 related to the Auris Health acquisition dispute.

• Management's Discussion (Item 2)

  Talc charge, STELARA biosimilar erosion, segment margin drops, restructuring, and IPR&D impairments.
  Notable

  • J&J recorded a $0.4B IPR&D impairment in fiscal nine months 2026, primarily for PreCardia, a non-strategic asset from the 2022 Abiomed acquisition.
  • J&J initiated a supply chain restructuring in Q2 2026 with estimated costs of $0.7B-$0.8B, expected to be substantially complete by end of 2029.
  • J&J's effective tax rate fell to 14.0% in fiscal nine months 2026 from 21.5% in 2025, partly due to the talc charge.
  • J&J secured a new $12.5B 364-day credit facility in June 2026, expiring June 2027, to support commercial paper and general corporate purposes.
  • J&J's net debt position was $27.4B at end of Q3 2026, roughly flat vs $27.2B a year ago; cash and marketable securities were $17.2B.
  • J&J expects remaining talc-related payments of ~$9.0B, $3.2B in current corporate bonds due, and ~$2.6B for the option to acquire Sail.
  Negative

  • Q3 2026 earnings before tax collapsed to $34M (0.1% of sales) from $7.5B (31.2%) a year ago, driven by $5.5B talc charge.
  • Innovative Medicine segment margin dropped to 30.2% in Q3 2026 from 41.4% a year ago, hit by $1.0B Firefly IPR&D and STELARA mix.

What changed: Sep 2026 vs. Jun 2026

About 11% of JNJ's Sep 2026 10-Q is new information. 46 paragraphs were added, 203 changed, and 59 removed. Below are the most important lines SECSift identified.

• Item 2 102
• Item 1 95
• Item 5 1