AZN vs JNJ: AstraZeneca and Johnson & Johnson compared
The short version
From the latest prices and each company's SEC filings. Who's ahead on each measure, not which to buy.
- Johnson & Johnson is the larger company, worth $632.9B, about 2.7 times AstraZeneca.
- AstraZeneca grew revenue faster over the last year (+8.6% vs +6.6%).
- On earnings, AstraZeneca is the cheaper stock (24.3x vs 30.5x).
- Johnson & Johnson's price assumes faster free cash flow growth: about 11% a year, against 9% for AstraZeneca (reverse DCF).
Side by side
The stronger figure is shaded where higher (or, for valuation multiples, lower) reads as better. How the implied growth works.
| Measure | AZN | JNJ |
|---|---|---|
| Market cap | $238.8B | $632.9B |
| Share price | $159.20 | $261.44 |
| Revenue (last fiscal year) | $58.7B | $94.2B |
| Free cash flow (last fiscal year) | $8.7B | $19.7B |
| Revenue growth, last year | +8.6% | +6.6% |
| Revenue growth per year, last 5 fiscal years | +11.9% | +4.6% |
| Operating margin | 23.4% | — |
| Net margin | 17.4% | 21.5% |
| Return on equity | 22.9% | 24.8% |
| P/E (trailing) | 24.3x | 30.5x |
| Price / free cash flow | 20.3x | 32.1x |
| EV / EBITDA | 15.2x | 19.4x |
| FCF growth the price implies | 9.2% | 11.2% |
| Dividend yield | 2.0% | 2.0% |
| Debt / equity | 1.51x | 1.37x |
| Fundamental grade | C | C |
| Superinvestors holding it | 9 | 17 |
| Insider purchases, last 12 months | 1 | 10 |
Results from SEC filings
Revenue and free cash flow by fiscal year, from each company's 10-K filings.
AstraZeneca
| Year | Revenue | Free cash flow | Op. margin |
|---|---|---|---|
| 2021 | $37.4B | $3.8B | 2.8% |
| 2022 | $44.4B | $7.2B | 8.5% |
| 2023 | $45.8B | $6.6B | 17.9% |
| 2024 | $54.1B | $7.3B | 18.5% |
| 2025 | $58.7B | $8.7B | 23.4% |
Johnson & Johnson
| Year | Revenue | Free cash flow | Op. margin |
|---|---|---|---|
| 2021 | $78.7B | $19.8B | — |
| 2022 | $80.0B | $17.2B | — |
| 2023 | $85.2B | $18.2B | — |
| 2024 | $88.8B | $19.8B | — |
| 2025 | $94.2B | $19.7B | — |
Where the revenue comes from
AstraZeneca · by products, 2021
Tagrisso$5.0B14%
Vaxzevria$3.9B11%
Farxiga$3.0B8%
Symbicort$2.7B7%
Imfinzi$2.4B7%
Lynparza$2.3B6%
Johnson & Johnson · by segments, 2025
Innovative Medicine$60.4B64%
MedTech$33.8B36%
Compare them in fullFifteen years of statements, quarterly results, DCF and IRR models, and any number of peers side by side.
Open AZN in InvestinglyQuestions
Which is bigger, AstraZeneca or Johnson & Johnson?
Johnson & Johnson (JNJ), at $632.9B against $238.8B.
Is AZN or JNJ cheaper?
By trailing P/E, AstraZeneca (24.3x) is cheaper than Johnson & Johnson (30.5x). A lower multiple can also mean the market expects less growth.
Which grows faster, AZN or JNJ?
AstraZeneca: revenue grew +8.6% over the last year, against +6.6%.
Prices and ratios as of the last daily update; statements from SEC filings. Information only, not investment advice.