JNJ vs WMT: Johnson & Johnson and Walmart compared
The short version
From the latest prices and each company's SEC filings. Who's ahead on each measure, not which to buy.
- Walmart is the larger company, worth $819.2B, about 1.3 times Johnson & Johnson.
- Johnson & Johnson grew revenue faster over the last year (+6.6% vs +5.9%).
- On earnings, Johnson & Johnson is the cheaper stock (30.5x vs 36.2x).
- Walmart's price assumes faster free cash flow growth: about 18% a year, against 11% for Johnson & Johnson (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 | JNJ | WMT |
|---|---|---|
| Market cap | $632.9B | $819.2B |
| Share price | $261.44 | $111.35 |
| Revenue (last fiscal year) | $94.2B | $706.4B |
| Free cash flow (last fiscal year) | $19.7B | $14.9B |
| Revenue growth, last year | +6.6% | +5.9% |
| Revenue growth per year, last 5 fiscal years | +4.6% | +5.6% |
| Operating margin | — | 4.4% |
| Net margin | 21.5% | 3.0% |
| Return on equity | 24.8% | 22.5% |
| P/E (trailing) | 30.5x | 36.2x |
| Price / free cash flow | 32.1x | 54.9x |
| EV / EBITDA | 19.4x | 20.6x |
| FCF growth the price implies | 11.2% | 18.3% |
| Dividend yield | 2.0% | — |
| Debt / equity | 1.37x | 1.93x |
| Fundamental grade | C | D |
| Superinvestors holding it | 17 | 8 |
| Insider purchases, last 12 months | 10 | 9 |
Results from SEC filings
Revenue and free cash flow by fiscal year, from each company's 10-K filings.
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 | — |
Walmart
| Year | Revenue | Free cash flow | Op. margin |
|---|---|---|---|
| 2022 | $567.8B | $11.1B | 4.6% |
| 2023 | $605.9B | $12.0B | 3.4% |
| 2024 | $642.6B | $15.1B | 4.2% |
| 2025 | $674.5B | $12.7B | 4.4% |
| 2026 | $706.4B | $14.9B | 4.2% |
Where the revenue comes from
Johnson & Johnson · by segments, 2025
Innovative Medicine$60.4B64%
MedTech$33.8B36%
Walmart · by segments, 2026
Walmart U.S.$485.6B68%
Walmart International$132.0B19%
Sam's Club U.S.$95.5B13%
Compare them in fullFifteen years of statements, quarterly results, DCF and IRR models, and any number of peers side by side.
Open JNJ in InvestinglyQuestions
Which is bigger, Johnson & Johnson or Walmart?
Walmart (WMT), at $819.2B against $632.9B.
Is JNJ or WMT cheaper?
By trailing P/E, Johnson & Johnson (30.5x) is cheaper than Walmart (36.2x). A lower multiple can also mean the market expects less growth.
Which grows faster, JNJ or WMT?
Johnson & Johnson: revenue grew +6.6% over the last year, against +5.9%.
Prices and ratios as of the last daily update; statements from SEC filings. Information only, not investment advice.