In January 2023, Johnson & Johnson reported net sales of €86.8bn ($94.94bn) for the full year of 2022, up 1.3% on 2021.
Johnson & Johnson has a relatively low DSI level for a pharmaceuticals provider. This can be attributed to its diverse business model, where its medical devices and consumer healthcare segments account for a significant chunk of the business. In the years where its pharmaceuticals business accounted for a smaller share of revenues (under 40%), its average DSI level was 108. In years where pharma accounted for over 40% of revenues, its average DSI was 116. J&J has a lower DSI level than companies like Pfizer and GSK, where pharmaceuticals makes up a similarly low share of revenues.
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