JNJ vs. WAT: Johnson & Johnson vs. Waters Stock Comparison

November 11, 2026

How do Johnson & Johnson (JNJ) and Waters (WAT) stack up? This page sets them side by side across company profile, performance and risk, profitability, growth, financial strength, dividends, and valuation, with selected fundamentals also measured against each stock's industry-group peers.

Company Profile

Johnson & Johnson (JNJ) and Waters (WAT) both fall under the Pharmaceuticals, Biotechnology & Life Sciences industry group, but JNJ is classified in Pharmaceuticals while WAT is classified in Life Sciences Tools & Services.

Company profile comparison for Johnson & Johnson (JNJ) and Waters (WAT)
Profile Item	JNJ	WAT
Name	Johnson & Johnson	Waters Corporation
Country/Region	United States	United States
GICS Sector	Health Care	Health Care
GICS Industry Group	Pharmaceuticals, Biotechnology & Life Sciences	Pharmaceuticals, Biotechnology & Life Sciences
GICS Industry	Pharmaceuticals	Life Sciences Tools & Services
GICS Sub-Industry	Pharmaceuticals	Life Sciences Tools & Services
Market Capitalization	664.95 billion USD	44.93 billion USD
Currency	USD	USD
Exchange	NYSE	NYSE
Listing Date	January 2, 1962	November 17, 1995
Security Type	Common Stock	Common Stock

Price Performance

Cumulative Growth

JNJ

WAT

GSPC

Johnson & Johnson (JNJ) vs. Waters (WAT), with S&P 500 (GSPC) for reference: Growth of a $10,000 investment over the past five years. Adjusted for dividends and splits.

Trailing Returns

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Trailing total returns for Johnson & Johnson (JNJ) and Waters (WAT). Returns over one year are annualized.

Calendar-Year Returns

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Calendar-year total returns for Johnson & Johnson (JNJ) and Waters (WAT). Each bar is that year's total return, measured year-end to year-end.

Performance Metrics

Price performance metrics for Johnson & Johnson (JNJ) and Waters (WAT)
Metric	JNJ	WAT
Total Return (1Y)	53.82%	27.70%
Total Return (3Y, Annualized)	27.51%	23.32%
Total Return (5Y, Annualized)	14.71%	6.27%

Risk Profile

Drawdown History

JNJ

WAT

GSPC

Johnson & Johnson (JNJ) vs. Waters (WAT), with S&P 500 (GSPC) for reference: Drawdown from the running peak over the past five years. Each line shows the decline from its prior peak; 0% marks a new high.

Return Distribution

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Distribution of monthly total returns for Johnson & Johnson (JNJ) and Waters (WAT). Each bar is the share of months whose return fell in that 5% bucket.

Risk Metrics

Risk profile metrics for Johnson & Johnson (JNJ) and Waters (WAT)
Metric	JNJ	WAT
Volatility (1Y, Annualized)	21.23%	35.45%
Beta (5Y)	0.21	1.13
Max Drawdown (5Y)	-18.41%	-36.47%
Avg. Volume (3M)	6.93M	816.72K

Risk-Adjusted Performance

Risk-Return Positioning

JNJ and WAT are plotted by 1-year volatility (risk) and 1-year return. The dashed Capital Allocation Line runs from the risk-free rate through the shared industry median.

Risk-Adjusted Metrics

Risk-adjusted metrics for Johnson & Johnson (JNJ) and Waters (WAT)
Metric	JNJ	WAT
Sharpe Ratio (1Y)	2.33	0.66
Sortino Ratio (1Y)	3.66	0.98

Profitability

ROE (TTM)

Johnson & Johnson (JNJ) at 20.02% sits in the top ROE quartile, while Waters (WAT) at 1.12% is closer to the peer norm — stronger capital efficiency for JNJ.

JNJ

Pharmaceuticals, Biotechnology & Life Sciences industry group

20.02%

Max: 109.18%
JNJ: 20.02%
Q3: 6.23%
Median: -26.66%
Q1: -64.05%
Min: -167.77%

WAT

Pharmaceuticals, Biotechnology & Life Sciences industry group

1.12%

Max: 109.18%
Q3: 6.23%
WAT: 1.12%
Median: -26.66%
Q1: -64.05%
Min: -167.77%

Johnson & Johnson (JNJ) vs. Waters (WAT): A comparison of their ROE against the Pharmaceuticals, Biotechnology & Life Sciences industry group benchmark.

Net Margin (TTM)

Johnson & Johnson (JNJ) at 16.20% retains a top-quartile share of revenue as profit, ahead of Waters (WAT) at 1.76%, which keeps about the industry-typical share.

JNJ

Pharmaceuticals, Biotechnology & Life Sciences industry group

16.20%

Max: 18.05%
JNJ: 16.20%
Q3: 4.78%
Median: 0.00%
Q1: -4.14%
Min: -17.05%

WAT

Pharmaceuticals, Biotechnology & Life Sciences industry group

1.76%

Max: 18.05%
Q3: 4.78%
WAT: 1.76%
Median: 0.00%
Q1: -4.14%
Min: -17.05%

Johnson & Johnson (JNJ) vs. Waters (WAT): A comparison of their net margin against the Pharmaceuticals, Biotechnology & Life Sciences industry group benchmark.

Operating Margin (TTM)

Johnson & Johnson (JNJ) at 25.74% operates in the top operating margin quartile, ahead of Waters (WAT) at 11.38%, which runs around its industry’s norm.

JNJ

Pharmaceuticals, Biotechnology & Life Sciences industry group

25.74%

Max: 83.12%
JNJ: 25.74%
Q3: 14.77%
Median: 0.00%
Q1: -78.82%
Min: -207.40%

WAT

Pharmaceuticals, Biotechnology & Life Sciences industry group

11.38%

Max: 83.12%
Q3: 14.77%
WAT: 11.38%
Median: 0.00%
Q1: -78.82%
Min: -207.40%

Johnson & Johnson (JNJ) vs. Waters (WAT): A comparison of their operating margin against the Pharmaceuticals, Biotechnology & Life Sciences industry group benchmark.

Profitability Metrics

Profitability metrics for Johnson & Johnson (JNJ) and Waters (WAT)
Metric	JNJ	WAT
ROE (TTM)	20.02%	1.12%
ROA (TTM)	8.46%	2.36%
Net Margin (TTM)	16.20%	1.76%
Operating Margin (TTM)	25.74%	11.38%
Gross Margin (TTM)	67.78%	49.83%

Growth

Revenue Growth

Both Johnson & Johnson (JNJ) at 6.05% and Waters (WAT) at 6.99% land near their industries' usual revenue growth ranges, so top-line momentum looks broadly in line with peers on both sides.

Johnson & Johnson (JNJ) vs. Waters (WAT): A comparison of their Revenue Growth across different time periods.

EPS Growth

Johnson & Johnson (JNJ) at 90.50% sits in the top EPS growth quartile, while Waters (WAT) at 0.47% is closer to the peer norm — faster per-share earnings growth for JNJ.

Johnson & Johnson (JNJ) vs. Waters (WAT): A comparison of their EPS Growth across different time periods.

Growth Metrics

Growth metrics for Johnson & Johnson (JNJ) and Waters (WAT)
Metric	JNJ	WAT
Revenue Growth (YoY)	6.05%	6.99%
Revenue Growth (3Y CAGR)	5.60%	2.12%
EPS Growth (YoY)	90.50%	0.47%
EPS Growth (3Y CAGR)	17.90%	-2.84%

Financial Strength

Current Ratio (MRQ)

Short-term liquidity can only be read on one side of this pairing: Johnson & Johnson (JNJ) shows current ratio of 1.02 against its industry benchmark, while Waters (WAT) has no reading this period.

JNJ

Pharmaceuticals, Biotechnology & Life Sciences industry group

1.02

Max: 25.13
Q3: 12.13
Median: 5.52
Q1: 2.47
JNJ: 1.02
Min: 0.10

WAT

Pharmaceuticals, Biotechnology & Life Sciences industry group

Max: 25.13
Q3: 12.13
Median: 5.52
Q1: 2.47
Min: 0.10
WAT: --

Johnson & Johnson (JNJ) vs. Waters (WAT): WAT does not report current ratio, so it has no value marker; JNJ is benchmarked against the Pharmaceuticals, Biotechnology & Life Sciences industry group.

Debt / Equity (MRQ)

Both Johnson & Johnson (JNJ) at 0.55 and Waters (WAT) at 0.34 fund their balance sheets with roughly industry-typical debt-to-equity mixes.

JNJ

Pharmaceuticals, Biotechnology & Life Sciences industry group

0.55

Max: 1.42
Q3: 0.65
JNJ: 0.55
Median: 0.15
Q1: 0.02
Min: 0.00

WAT

Pharmaceuticals, Biotechnology & Life Sciences industry group

0.34

Max: 1.42
Q3: 0.65
WAT: 0.34
Median: 0.15
Q1: 0.02
Min: 0.00

Johnson & Johnson (JNJ) vs. Waters (WAT): A comparison of their debt-to-equity ratio against the Pharmaceuticals, Biotechnology & Life Sciences industry group benchmark.

Financial Strength Metrics

Financial strength metrics for Johnson & Johnson (JNJ) and Waters (WAT)
Metric	JNJ	WAT
Current Ratio (MRQ)	1.02	--
Debt / Equity (MRQ)	0.55	0.34
Net Debt / EBITDA	0.79	3.23

Dividends

Dividend Yield (TTM)

Waters (WAT) pays no dividend (yield 0.00%) — it may be reinvesting, using buybacks, or simply not returning cash through dividends. Meanwhile Johnson & Johnson (JNJ) reports a yield of 1.94%, ranking against industry peers normally.

JNJ

Pharmaceuticals, Biotechnology & Life Sciences industry group

1.94%

JNJ: 1.94%
Max: 0.00%
Q3: 0.00%
Median: 0.00%
Q1: 0.00%
Min: 0.00%

WAT

Pharmaceuticals, Biotechnology & Life Sciences industry group

0.00%

WAT: 0.00%
Max: 0.00%
Q3: 0.00%
Median: 0.00%
Q1: 0.00%
Min: 0.00%

Johnson & Johnson (JNJ) vs. Waters (WAT): A comparison of their dividend yield against the Pharmaceuticals, Biotechnology & Life Sciences industry group benchmark.

Dividend Payout Ratio (TTM)

Waters (WAT) pays no dividend (payout 0.00%) — it may be reinvesting, using buybacks, or simply not returning cash through dividends. Meanwhile Johnson & Johnson (JNJ) reports a payout of 80.12%, ranking against industry peers normally.

JNJ

Pharmaceuticals, Biotechnology & Life Sciences industry group

80.12%

JNJ: 80.12%
Max: 0.00%
Q3: 0.00%
Median: 0.00%
Q1: 0.00%
Min: 0.00%

WAT

Pharmaceuticals, Biotechnology & Life Sciences industry group

0.00%

WAT: 0.00%
Max: 0.00%
Q3: 0.00%
Median: 0.00%
Q1: 0.00%
Min: 0.00%

Johnson & Johnson (JNJ) vs. Waters (WAT): A comparison of their payout ratio against the Pharmaceuticals, Biotechnology & Life Sciences industry group benchmark.

Dividend Metrics

Dividend metrics for Johnson & Johnson (JNJ) and Waters (WAT)
Metric	JNJ	WAT
Dividend Yield (TTM)	1.94%	0.00%
Dividend Payout Ratio (TTM)	80.12%	0.00%

Valuation

P/E Ratio (TTM)

Johnson & Johnson (JNJ) at 41.92 is near its industry’s usual P/E ratio, while Waters (WAT) at 191.46 sits above its peer range — an unusually expensive price for WAT’s trailing earnings.

JNJ

Pharmaceuticals, Biotechnology & Life Sciences industry group

41.92

Max: 85.34
Q3: 43.46
JNJ: 41.92
Median: 26.69
Q1: 13.30
Min: 0.07

WAT

Pharmaceuticals, Biotechnology & Life Sciences industry group

191.46

WAT: 191.46
Max: 85.34
Q3: 43.46
Median: 26.69
Q1: 13.30
Min: 0.07

Johnson & Johnson (JNJ) vs. Waters (WAT): A comparison of their P/E ratio against the Pharmaceuticals, Biotechnology & Life Sciences industry group benchmark.

P/S Ratio (TTM)

On P/S ratio, both Johnson & Johnson (JNJ) at 6.69 and Waters (WAT) at 8.01 are priced roughly in line with their industries — neither looks cheap nor rich on a sales basis.

JNJ

Pharmaceuticals, Biotechnology & Life Sciences industry group

6.69

Max: 58.18
Q3: 25.77
Median: 7.30
JNJ: 6.69
Q1: 3.01
Min: 0.01

WAT

Pharmaceuticals, Biotechnology & Life Sciences industry group

8.01

Max: 58.18
Q3: 25.77
WAT: 8.01
Median: 7.30
Q1: 3.01
Min: 0.01

Johnson & Johnson (JNJ) vs. Waters (WAT): A comparison of their P/S ratio against the Pharmaceuticals, Biotechnology & Life Sciences industry group benchmark.

P/B Ratio (MRQ)

Waters (WAT) at 2.94 is valued about in line with its industry on P/B ratio, while Johnson & Johnson (JNJ) at 8.16 carries an above-peer premium to book — JNJ is pricier on assets.

JNJ

Pharmaceuticals, Biotechnology & Life Sciences industry group

8.16

Max: 13.53
JNJ: 8.16
Q3: 6.54
Median: 3.25
Q1: 1.69
Min: -5.59

WAT

Pharmaceuticals, Biotechnology & Life Sciences industry group

2.94

Max: 13.53
Q3: 6.54
Median: 3.25
WAT: 2.94
Q1: 1.69
Min: -5.59

Johnson & Johnson (JNJ) vs. Waters (WAT): A comparison of their P/B ratio against the Pharmaceuticals, Biotechnology & Life Sciences industry group benchmark.

Valuation Metrics

Valuation metrics for Johnson & Johnson (JNJ) and Waters (WAT)
Metric	JNJ	WAT
P/E Ratio (TTM)	41.92	191.46
P/S Ratio (TTM)	6.69	8.01
P/B Ratio (MRQ)	8.16	2.94
Free Cash Flow Yield (TTM)	2.78%	--