Johnson & Johnson vs Merck (JNJ vs MRK)
Side by side from their SEC filings: revenue, margins, growth, returns and valuation, plus short interest, insider activity and institutional ownership.
Johnson & Johnson is the larger company by revenue ($94.2B vs $65.0B) and market value ($640.7B vs $364.5B). Merck has grown revenue faster over the last 4 fiscal years (+33.5% cumulative vs +19.6%). Johnson & Johnson trades at the lower trailing P/E (30.8x vs 118.2x).
About Johnson & Johnson
Johnson & Johnson is a global healthcare company that operates through two main segments: Innovative Medicine and MedTech. The Innovative Medicine segment develops and sells prescription medicines for various therapeutic areas including oncology, immunology, neuroscience, infectious diseases, and cardiovascular conditions. The MedTech segment designs and manufactures medical devices and products used in cardiovascular care, orthopaedics, surgery, and vision, serving healthcare professionals, hospitals, and eye care providers worldwide.
About Merck
Merck & Co., Inc. is a pharmaceutical company that develops and sells prescription medicines, vaccines, and animal health products. It serves healthcare providers, patients, and animal health customers worldwide. The company also collaborates with other firms to develop and commercialize various pharmaceutical products.
Head to head (JNJ FY2025 vs MRK FY2025)
| Metric | JNJFY2025 | MRKFY2025 |
|---|---|---|
| Revenue | $94.19B | $65.01B |
| Revenue growth (YoY) | 6.0% | 1.3% |
| Gross margin | 67.9% | 74.8% |
| Operating margin | — | — |
| Net margin | 28.5% | 28.1% |
| Net income | $26.80B | $18.25B |
| Diluted EPS | $11.03 | $7.28 |
| FCF margin | 20.9% | 19.0% |
| ROE | 32.9% | 34.7% |
| Long-term debt / equity | 0.48× | 0.89× |
| Market cap | $640.67B | $364.55B |
| P/E | 30.8× | 118.2× |
Fundamentals are from each company’s SEC filings (JNJ FY2025, MRK FY2025). ROE is net income over fiscal-year-end equity; long-term debt / equity counts non-current term debt only. P/E and market cap are derived from stored market prices, last retrieved on a rolling basis and typically within the past week.
Five-year trend (as reported)
| Revenue | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|
| JNJ | $78.74B | $79.99B | $85.16B | $88.82B | $94.19B |
| MRK | $48.70B | $59.28B | $60.12B | $64.17B | $65.01B |
Peer standing
Where each company ranks among the 198 pharmaceutical companies, on the same scale. Each figure is ranked only against peers that report it. Percentiles describe position in the distribution, not a rating.
| Metric | JNJ | MRK |
|---|---|---|
| Gross margin | 67.9%51st percentile of 69 | 74.8%68th percentile of 69 |
| Net margin | 28.5%83rd percentile of 122 | 28.1%82nd percentile of 122 |
| FCF margin | 20.9%80th percentile of 110 | 19.0%77th percentile of 110 |
| Revenue growth (YoY) | +6.0%43rd percentile of 187 | +1.3%36th percentile of 187 |
| ROE | 32.9%90th percentile of 167 | 34.7%91st percentile of 167 |
| P/E | 30.8×68th percentile of 60 | 118.2×90th percentile of 60 |
| Long-term debt / equity | 0.48×48th percentile of 64 | 0.89×78th percentile of 64 |
| Short interest (days to cover) | 3.33d28th percentile of 197 | 2.84d23rd percentile of 197 |
Short interest
| FINRA settlement data | JNJ | MRK |
|---|---|---|
| Shares sold short | 21.6M | 24.5M |
| Change vs prior settlement | -15.0% | -13.4% |
| Days to cover | 3.33 | 2.84 |
| As of settlement | 2026-08-14 | 2026-08-14 |
Source: FINRA Consolidated Short Interest. FINRA is the owner and source of the FINRA-supplied data; republishing or redistributing it is not permitted. Not presented as a percentage of float. No FINRA endorsement of this product is implied.
Insider activity (last 90 days)
| Form 4 activity (codes P/S) | JNJ | MRK |
|---|---|---|
| Buys | 0 | 0 |
| Sells | 9 ($61.0M) | 17 ($30.0M) |
Non-derivative purchases (code P) and sales (code S) reported on SEC Form 4, which may be open-market or private (grants, exercises and tax withholding excluded). For context, about 15% of covered companies saw any reported insider purchase (code P) in a 90-day window.
Held by the same investors
8 tracked 13F managers hold both Johnson & Johnson and Merck as of their latest quarterly filings: AQR Capital Management, Bridgewater Associates, Citadel Advisors, D. E. Shaw, Dodge & Cox, Gotham Asset Management, Millennium Management, Two Sigma Investments. See which superinvestors hold your own portfolio with the smart money checker.
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Data sourced from SEC EDGAR. Figures are as-reported and may be unaudited or restated; verify against the source filings before relying on them. Comparisons are descriptive (higher or lower on a reported figure), not a rating or a recommendation. Informational only. Not investment advice.