Johnson & Johnson Reported 4Q Results and G-255 Trading Indicators for January 21, 2026

Johnson and Johnson reported 4Q results (12/31/25) J&J does not report period end balance sheet or cash flow information until they complete their full regulatory filing (10 – K) which will happen shortly. We include only 3Q balance sheet and shareholder return figures. JNJ continues to grow balance sheet via acquisition and while the credit is rated AAA it is still re-levering and the G-255 trading model indicators are short credit/long equity. We note that returns to shareholders via share repurchase in dividends for JNJ rose 40% YoY in 2025 while earnings rose 90%.

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