This report should not be construed as providing investment advice. It is for educational purposes only.  Before making any investment decision, you should always do your own research or consult a investment professional.
While I try to be accurate, I assume no responsibility for any figure in this spreadsheet.
See my website on stocks or see my blog at the following sites.  www.spbrunner.com/stocks.html www.spbrunner.blogspot.com/
Johnson and Johnson         www.jnj.com/  JNJ-N   Fiscal Yr: Dec 31                              
Year 12/31/99 12/31/00 12/31/01 12/31/02 12/31/03 12/31/04 12/31/05 12/31/06 12/31/07 12/31/08 12/31/09 12/31/10 12/31/11 12/30/12       #Y                
USD - CDN$ 1.4733 1.5224 1.5926 1.5796 1.2924 1.2048 1.1630 1.1652 0.9881 1.2240 1.0501 0.9970 0.9698 96.98%                        
Sales* $27,471 $28,946 $33,004 $36,298 $41,862 $47,348 $50,514 $53,324 $61,095 $63,747 $61,897 $61,587       112.77% <-Total Growth 10 Revenue US$            
Increase 14.49% 5.37% 14.02% 9.98% 15.33% 13.10% 6.69% 5.56% 14.57% 4.34% -2.90% -0.50%       7.84% <-IRR #YR-> 10 Revenue US$            
Rev per Share $10.22 $10.41 $10.76 $12.22 $14.10 $15.95 $16.19 $18.39 $21.35 $22.98 $22.43 $22.42       4.04% <-IRR #YR-> 5 Revenue US$            
P/S (Price/Sales) 4.56 5.05 5.56 4.35 3.59 3.98 3.71 3.59 3.12 2.61 2.87 2.76       7.97% <-IRR #YR-> 10 Rev Per share US$            
*Revenue in M US $              P/S 10 Yrs 3.61 5 Yrs 2.99       6.73% <-IRR #YR-> 5 Rev Per share US$            
                                                     
    -$28,946 $0 $0 $0 $0 $0 $0 $0 $0 $0 $61,587                            
              -$50,514 $0 $0 $0 $0 $61,587                            
    -$10.41 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $22.42                            
              -$16.19 $0.00 $0.00 $0.00 $0.00 $22.42                            
                 
EPS* $1.47 $1.61 $1.84 $2.16 $2.40 $2.84 $3.46 $3.73 $3.63 $4.57 $4.40 $4.78 $4.84 $5.12   196.89% <-Total Growth 10 Earnings US$            
Increase 38.68% 9.52% 14.29% 17.39% 11.11% 18.33% 21.83% 7.80% -2.68% 25.90% -3.72% 8.64% 1.26% 5.79%   11.50% <-IRR #YR-> 10 Earnings US$            
* ESP per share (Cdn GAAP)                           6.68% <-IRR #YR-> 5 Earnings US$            
    -$1.61 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $4.78                            
              -$3.46 $0.00 $0.00 $0.00 $0.00 $4.78                            
                                                     
pre-split                                                    
pre-split $1.09                                                  
Div* $0.55 $0.62 $0.70 $0.80 $0.93 $1.10 $1.28 $1.46 $1.62 $1.80 $1.93 $2.11 $2.16 $2.16   240.32% <-Total Growth 10 Dividends US$            
Increase 12.37% 13.76% 12.90% 13.57% 16.35% 18.38% 16.44% 14.12% 11.34% 10.80% 7.52% 9.33% 2.37% 0.00%   13.08% <-Average 10 Dividends US$            
Yield H/L 1.18% 1.44% 1.38% 1.49% 1.73% 1.93% 1.97% 2.30% 2.52% 2.83% 3.46% 3.43%       2.30% <-Average 10 Dividends US$            
Yield on Cl 1.17% 1.18% 1.17% 1.50% 1.83% 1.73% 2.12% 2.20% 2.43% 3.00% 3.00% 3.41% 3.54% 3.54%   2.24% <-Average 10 Dividends US$            
Payout Ratio 37.1% 38.5% 38.0% 36.8% 38.5% 38.6% 36.8% 39.0% 44.6% 39.3% 43.9% 44.1% 44.6% 42.2%   39.97% <-Average 10 Dividends US$            
Payout Ratio CF 25.9% 25.0% 24.2% 28.9% 25.9% 29.2% 33.5% 29.6% 30.4% 33.3% 32.1% 35.4%       13.03% <-IRR #YR-> 10 Dividends US$            
Average 5 Yrs Div Yd Div Yd 6.82% in 5 yrs 13.13% Yield  2.91% 2.81% Payout 42.18% 32.16%       10.60% <-IRR #YR-> 5 Dividends US$            
* Dividends per share    14.00% 5 14.00% 10                                        
                                                     
    -$0.62 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $2.11                            
              -$1.28 $0.00 $0.00 $0.00 $0.00 $2.11                            
                                                     
Div Cdn$ $0.80 $0.94 $1.11 $1.26 $1.20 $1.32 $1.48 $1.70 $1.60 $2.20 $2.03 $2.10 $2.09 $2.09   8.34% <-IRR #YR-> 10 Stock Price CDN$            
Increase 7.35% 17.55% 18.11% 12.64% -4.80% 10.35% 12.40% 14.33% -5.58% 37.26% -7.75% 3.80% -0.42% 0.00%   7.25% <-IRR #YR-> 5 Stock Price CDN$            
                                                     
    -$0.94 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $2.10                            
              -$1.48 $0.00 $0.00 $0.00 $0.00 $2.10                            
                                                     
Close Cdn$ $68.69 $79.97 $95.33 $83.89 $65.42 $76.41 $69.90 $76.97 $65.91 $73.27 $67.64 $61.75       -2.55% <-IRR #YR-> 10 Stock Price CDN$            
5 yr Period ending     12/31/02 12/31/03 12/31/04 12/31/05 12/31/06 12/31/07 12/31/08 12/31/09 12/31/10       -2.45% <-IRR #YR-> 5 Stock Price CDN$            
5 year IRR       14.26% 1.87% 3.77% -0.97% -2.59% -2.79% 4.69% 0.06% 0.44%       -0.31% <-IRR #YR-> 10 Price & Div CDN$            
As a Canadian, would I have made money on this stock? Looking at 5 year periods to, including Dividends             0.44% <-IRR #YR-> 5 Price & Div CDN$            
    -$79.97 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $61.75             Stock Price CDN$            
              -$69.90 $0.00 $0.00 $0.00 $0.00 $61.75             Stock Price CDN$            
    -$79.97 $1.11 $1.26 $1.20 $1.32 $1.48 $1.70 $1.60 $2.20 $2.03 $63.86         Dates   Price & Div CDN$            
              -$69.90 $1.70 $1.60 $2.20 $2.03 $63.86         12/31/10   Price & Div CDN$            
            -$76.41 $1.48 $1.70 $1.60 $2.20 $69.66         Cut & 12/31/09   Price & Div CDN$            
          -$65.42 $1.32 $1.48 $1.70 $1.60 $75.47           Paste 12/31/08   Price & Div CDN$            
        -$83.89 $1.20 $1.32 $1.48 $1.70 $67.51             These  12/31/07   Price & Div CDN$            
      -$95.33 $1.26 $1.20 $1.32 $1.48 $78.67               Dates 12/31/06   Price & Div CDN$            
    -$79.97 $1.11 $1.26 $1.20 $1.32 $71.38                   12/31/05   Price & Div CDN$            
  -$68.69 $0.94 $1.11 $1.26 $1.20 $77.73                     12/31/04   Price & Div CDN$            
  $0.80 $0.94 $1.11 $1.26 $66.62                       12/31/03   Price & Div CDN$            
  $0.80 $0.94 $1.11 $85.15                         12/31/02   Price & Div CDN$            
                                                     
H/LYield held 5 yrs 4.71% 3.40% 2.93% 2.74% 2.42% 2.37% 2.96% 2.87% 3.03% 3.35% 3.40% 3.26% 3.42% 3.36% Ave H/L Yield on your    Dividends US$            
H/LYield held 10 yrs 9.47% 6.99% 6.09% 5.59% 4.69% 4.18% 4.90% 4.27% 4.04% Ave H/L original money   Dividends US$            
                                                     
Graham No. $13.73 $15.66 $18.14 $19.28 $22.11 $26.17 $30.74 $33.74 $35.16 $39.69 $42.60 $47.07 $47.36 $48.71   Cl Pr higher/lower by?   Graham Price US$            
Prem /Disc. High 292.65% 238.25% 236.07% 241.72% 167.25% 145.49% 125.73% 103.67% 94.53% 80.64% 52.47% 40.29%       128.79% <-Average 10 Graham Price US$            
Prem /Disc. Ave 236.52% 174.71% 178.97% 177.23% 142.30% 116.83% 110.69% 87.28% 82.69% 60.02% 30.92% 30.72%       101.76% <-Average 10 Graham Price US$            
Prem /Disc. Low 180.40% 111.17% 121.86% 112.74% 117.36% 88.18% 95.64% 70.89% 70.84% 39.40% 9.38% 21.14%       74.74% <-Average 10 Graham Price US$            
Prem /Disc. Cl 239.57% 235.44% 229.95% 175.44% 128.98% 142.32% 95.48% 95.82% 89.70% 50.81% 51.18% 31.60% 28.82% 25.24%   109.13% <-Average 10 Graham Price US$            
                                                     
pre-split                                                    
pre-split $93.25                                                  
Price Cl $46.63 $52.53 $59.86 $53.11 $50.62 $63.42 $60.10 $66.06 $66.70 $59.86 $64.41 $61.94 $61.01 $61.01   17.91% <-Total Growth 10 Stock Price US$            
Increase 11.24% 12.66% 13.95% -11.28% -4.69% 25.29% -5.23% 9.92% 0.97% -10.25% 7.60% -3.83% -1.50% 0.00%   1.66% <-IRR #YR-> 10 Stock Price US$            
P/E 31.72 32.63 32.53 24.59 21.09 22.33 17.37 17.71 18.37 13.10 14.64 12.96 12.61 11.92   0.60% <-IRR #YR-> 5 Stock Price US$            
Trailing P/E 43.99 35.73 37.18 28.86 23.44 26.43 21.16 19.09 17.88 16.49 14.09 14.08 12.76 12.61   4.00% <-IRR #YR-> 10 Price & Div US$            
Median 5 Yrs     2.91% 2.34% Div %  5, 10 yrs   Price Inc 0.97% P/E: Y-T 14.64 16.49       3.52% <-IRR #YR-> 5 Price & Div US$            
                                                     
    -$52.53 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $61.94                            
              -$60.10 $0.00 $0.00 $0.00 $0.00 $61.94                            
    -$52.53 $0.70 $0.80 $0.93 $1.10 $1.28 $1.46 $1.62 $1.80 $1.93 $64.05                            
              -$60.10 $1.46 $1.62 $1.80 $1.93 $64.05                            
                                                     
Price Ave H/L $46.21 $43.02 $50.61 $53.46 $53.57 $56.75 $64.78 $63.18 $64.24 $63.52 $55.78 $61.53       43.01% <-Total Growth 10 Stock Price US$            
Increase 20.70% -6.90% 17.64% 5.62% 0.21% 5.95% 14.14% -2.46% 1.67% -1.12% -12.18% 10.30%       3.64% <-IRR #YR-> 10 Stock Price US$            
P/E 31.43 26.72 27.51 24.75 22.32 19.98 18.72 16.94 17.70 13.90 12.68 12.87       -1.02% <-IRR #YR-> 5 Stock Price US$            
Trailing P/E 43.59 29.27 31.43 29.05 24.80 23.65 22.81 18.26 17.22 17.50 12.21 13.98       6.23% <-IRR #YR-> 10 Price & Div US$            
Median 5 Yrs     2.80% 2.58% Div %  5, 10 yrs   Price Inc -1.12% P/E: Y-T 13.90 17.22       1.77% <-IRR #YR-> 5 Price & Div US$            
                                                     
    -$43.02 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $61.53                            
              -$64.78 $0.00 $0.00 $0.00 $0.00 $61.53                            
    -$43.02 $0.70 $0.80 $0.93 $1.10 $1.28 $1.46 $1.62 $1.80 $1.93 $63.64                            
              -$64.78 $1.46 $1.62 $1.80 $1.93 $63.64                            
                                                     
Hi Mths Oct-Dec Oct-Dec Oct-Dec Jan-Mar Apr-Jun Oct-Dec Apr Nov Nov Aug Dec Apr                            
pre-split                                                    
pre-split $107.83                                                  
Price Hi $53.91 $52.97 $60.97 $65.89 $59.08 $64.25 $69.40 $68.71 $68.40 $71.70 $64.96 $66.03       24.66% <-Total Growth 10 Stock Price US$            
Increase 20.14% -1.75% 15.10% 8.07% -10.34% 8.75% 8.02% -0.99% -0.45% 4.82% -9.40% 1.65%       2.23% <-IRR #YR-> 10 Stock Price US$            
P/E 36.68 32.90 33.14 30.50 24.62 22.62 20.06 18.42 18.84 15.69 14.76 13.81       -0.99% <-IRR #YR-> 5 Stock Price US$            
Trailing P/E 50.86 36.03 37.87 35.81 27.35 26.77 24.44 19.86 18.34 19.75 14.21 15.01                            
Median 5 Yrs               Price Inc -0.45% P/E: Y-T 15.69 18.34                            
                                           
    -$52.97 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $66.03                            
              -$69.40 $0.00 $0.00 $0.00 $0.00 $66.03                            
                                                     
Low Mths Jan-Mar Jan-Mar Jan-Mar Jul-Sep Oct-Dec Jan-Mar Dec Mar Jul Dec Mar Jul                            
Price Low $38.50 $33.07 $40.25 $41.02 $48.05 $49.25 $60.15 $57.65 $60.07 $55.33 $46.60 $57.02       72.42% <-Total Growth 10 Stock Price US$            
Increase 21.50% -14.10% 21.71% 1.91% 17.14% 2.50% 22.13% -4.16% 4.20% -7.89% -15.78% 22.36%       5.60% <-IRR #YR-> 10 Stock Price US$            
P/E 26.19 20.54 21.88 18.99 20.02 17.34 17.38 15.46 16.55 12.11 10.59 11.93       -1.06% <-IRR #YR-> 5 Stock Price US$            
Trailing P/E 36.32 22.50 25.00 22.29 22.25 20.52 21.18 16.66 16.10 15.24 10.20 12.96                            
Median 5 Yrs           Price Inc -4.16% P/E: Y-T 12.11 15.24                            
                                           
    -$33.07 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $57.02                            
                                                     
Market Cap $125,369 $146,037 $183,617 $157,768 $150,247 $188,213 $187,502 $191,531 $190,879 $166,086 $177,714 $170,134 $167,579 $167,579   Market Cap       US$            
                                                     
# of Sh in M 2,688.89 2,780.06 3,067.44 2,970.58 2,968.14 2,967.7 3,119.8 2,899.4 2,861.8 2,774.6 2,759.1 2,746.8 2,746.8 2,746.8 Shares - corrected in 2011     Shares              
Increase -0.02% 3.39% 10.34% -3.16% -0.08% -0.01% 5.13% -7.07% -1.30% -3.05% -0.56% -0.45%       -0.02% <-Average 10 Shares              
CF fr Op $M $5,667 $6,903 $8,864 $8,176 $10,595 $11,131 $11,877 $14,248 $15,249 $14,972 $16,571 $16,385       137.36% <-Total Growth 10 Cash Flow US$            
OPS $2.11 $2.48 $2.89 $2.75 $3.57 $3.75 $3.81 $4.91 $5.33 $5.40 $6.01 $5.97       140.24% <-Total Growth 10 Cash Flow US$            
Increase 15.79% 17.82% 16.38% -4.75% 29.69% 5.07% 1.50% 29.09% 8.43% 1.27% 11.30% -0.68% 9.16% <-IRR #YR-> 10 Cash Flow US$            
Non-Cash CF -$62 -$328 -$1,493 $192 -$1,325 -$975 $912 -$982 -$1,458 $1,458 -$1,339 $870 9.40% <-IRR #YR-> 5 Cash Flow US$            
OPS non-cash $2.08 $2.37 $2.40 $2.82 $3.12 $3.42 $4.10 $4.58 $4.82 $5.92 $5.52 $6.28 10.26% <-IRR #YR-> 10 CF - non cash US$            
Increase 25.19% 13.46% 1.60% 17.23% 10.87% 9.57% 19.79% 11.62% 5.32% 22.88% -6.77% 13.79% 8.91% <-IRR #YR-> 5 CF - non cash US$            
P/O on Cl 22.37 22.21 24.91 18.85 16.21 18.53 14.66 14.44 13.84 10.11 11.67 9.86                        
Averages P/CF 10 Yrs  15.31 5 Yrs   11.98                  
*Operational Cash Flow per share                            
-$2.48 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $5.97                  
-$3.81 $0.00 $0.00 $0.00 $0.00 $5.97                  
-$2.37 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $6.28                  
-$4.10 $0.00 $0.00 $0.00 $0.00 $6.28                  
                                                 
OPM 20.63% 23.85% 26.86% 22.52% 25.31% 23.51% 23.51% 26.72% 24.96% 23.49% 26.77% 26.60%       should be zero, it is a check on calculations                    
Increase -17.6% -4.7% 7.3% -10.0% 1.1% -6.1% -6.0% 6.8% -0.3% -6.1% 7.0% 6.3%       0.00% <-Average   OPM US$            
*Operational Profit Margin (CF/Revenue) Ratio OPM 10 Yrs 25.03% 5 Yrs 25.71%                            
                                         
Curr Assets $13,200 $16,691 $18,473 $19,266 $22,995 $27,320 $31,394 $22,975 $29,945 $34,377 $39,541 $47,307       Liq ratio of 1.5 and up, best   Assets US$            
Curr Liab. $7,454 $7,255 $8,044 $11,449 $13,448 $13,927 $12,635 $19,161 $19,837 $20,852 $21,731 $23,072       1.86 <-Average   Liabilities US$            
Liquidity 1.77 2.30 2.30 1.68 1.71 1.96 2.48 1.20 1.51 1.65 1.82 2.05       1.73 <-Average   Ratio US$            
                                                     
Assets $29,163 $34,245 $38,488 $40,556 $48,263 $53,317 $58,025 $70,556 $80,954 $84,912 $94,682 $102,908       A/L ratio of 1.5 and up, best   Assets US$            
Liab. $13,836 $15,424 $14,102 $17,831 $21,401 $21,504 $20,145 $31,238 $37,635 $42,401 $44,094 $46,329       2.34 <-Average   Liabilities US$            
Asset/Liabilities 2.11 2.22 2.73 2.27 2.26 2.48 2.88 2.26 2.15 2.00 2.15 2.22       2.29 <-Average   Ratio US$            
                                                     
Book Value $15,327 $18,821 $24,386 $22,725 $26,862 $31,813 $37,880 $39,318 $43,319 $42,511 $50,588 $56,579 $56,579 $56,579   200.62% <-Total Growth 10 Book Value US$            
BV per share $5.70 $6.77 $7.95 $7.65 $9.05 $10.72 $12.14 $13.56 $15.14 $15.32 $18.33 $20.60 $20.60 $20.60   204.26% <-Total Growth 10 Book Value US$            
Change 15.62% 18.77% 17.43% -3.77% 18.30% 18.45% 13.27% 11.69% 11.62% 1.22% 19.67% 12.35%       0.5938 Current/Historical   Book Value US$            
P/BV 8.18 7.76 7.53 6.94 5.59 5.92 4.95 4.87 4.41 3.91 3.51 3.01 11.77% <-IRR #YR-> 10 Book Value US$            
Change -3.78% -5.14% -2.96% -7.80% -19.43% 5.77% -16.33% -1.59% -9.55% -11.34% -10.08% -14.40% 11.15% <-IRR #YR-> 5 Book Value US$            
Leverage (A/BV) 1.90 1.82 1.58 1.78 1.80 1.68 1.53 1.79 1.87 2.00 1.87 1.82       1.77 <-Average 10 A/BV US$            
Debt/Equity Ratio 0.90 0.82 0.58 0.78 0.80 0.68 0.53 0.79 0.87 1.00 0.87 0.82       0.77 <-Average 10 Debt/Eq R. US$            
Averages               P/BV 10 Yrs 5.06 5 Yrs 3.94                            
                                                     
    -$6.77 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $20.60                            
              -$12.14 $0.00 $0.00 $0.00 $0.00 $20.60                            
                                                     
ROE 27.2% 26.3% 23.2% 29.0% 26.8% 26.7% 27.5% 28.1% 24.4% 30.5% 24.2% 23.6%                            
5Yr Running Ave 26.0% 26.0% 25.1% 25.8% 26.4% 26.4% 26.7% 27.6% 26.6% 27.5% 26.8% 25.9%                            
                                                     
Net Income $4,167 $4,953 $5,668 $6,597 $7,197 $8,509 $10,411 $11,053 $10,576 $12,949 $12,266 $13,334       169.21% <-Total Growth 10 Net Income US$            
Oper C. F. $5,667 $6,903 $8,864 $8,176 $10,595 $11,131 $11,877 $14,248 $15,249 $14,972 $16,571 $16,385       Cash Flow Statement CF from continuing operations US$            
Invest. C. F -$2,942 -$2,665 -$4,093 -$2,197 -$4,526 -$2,347 -$4,521 -$20,291 -$6,139 -$4,187 -$7,598 -$7,854       Cash Flow Statement     US$            
Total Accruals $1,442 $715 $897 $618 $1,128 -$275 $3,055 $17,096 $1,466 $2,164 $3,293 $4,803               US$            
Total Assets $29,163 $34,245 $38,488 $40,556 $48,263 $53,317 $58,025 $70,556 $80,954 $84,912 $94,682 $102,908       Balance Sheet       US$            
Accruals Ratio 4.94% 2.09% 2.33% 1.52% 2.34% -0.52% 5.26% 24.23% 1.81% 2.55% 3.48% 4.67%       Oper C. F. Covers Investing C.F. and dividends? US$            
                                                     
Fin. C. F   -$2,425 -$5,251 -$6,953 -$3,863 -$2,347 -$297 -$6,109 -$5,698 -$7,464 -$4,092 -$4,980               US$            
Total Accruals   $3,140 $6,148 $7,571 $4,991 $2,072 $3,352 $23,205 $7,164 $9,628 $7,385 $9,783               US$            
Accruals Ratio   9.17% 15.97% 18.67% 10.34% 3.89% 5.78% 32.89% 8.85% 11.34% 7.80% 9.51%               US$            
                                                     
Feb 19, 2011.  I noticed that my number of shares were off and corrected them.  The further back I went the closer where the share No. I had.  I obvious do not know how to get No. of shares                     
from JNJ annual statements.  The current share number times stock price is now close to market cap of a number of sites. Dec 2010 figures are from unaudited statements.                        
However, so far JNJ has only put out income statement.                                            
2006. Stock is going no where, so I am selling.                                              
AP 2005.  I sometimes wonder if I did the right thing to buy this stock.  Looking at reports Srandard and Poor rating it a buy as do Vickers.  I will hold for now.  Dividends are good.                      
                                                     
How they make their money.                                                
Johnson & Johnson is engaged in the manufacture and sale of a broad range of products in the health care field in many countries of the world.                               
The company's worldwide business is divided into three segments: Consumer; Pharmaceutical; and Professional.                                    
                                                     
For most ratios, lower is better when looking for a good stock price.  However, there are exceptions such as for yield and asset/liability ratios and here you want a higher ratios to indicate a good stock price.                    
Also, for the Operational Profit Margin, a higher percentage is better.  With the OPM, you should only compare companies in similar industries.                              
                                                     
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