Quick Verdict
ZakatInvest retains a halal qualitative classification for Johnson & Johnson (JNJ), and its March 2026 total-assets financial ratios pass the examined methods. Medicines and medical technologies generally support preservation of life and health. The business-activity calculation remains incomplete, however, because the filing does not provide a Sharia-screened revenue numerator for individual products, ingredients, licensing arrangements or practices.
JNJ's Current Business
Johnson & Johnson no longer operates the consumer-health division that became Kenvue in 2023. Its current reporting has two segments:
- Innovative Medicine: $15.426 billion, or 64.11% of first-quarter sales, across oncology, immunology, neuroscience, infectious disease, pulmonary hypertension and cardiovascular products
- MedTech: $8.636 billion, or 35.89% of sales, across cardiovascular, surgery, vision and orthopaedics technologies
Preventing disease, treating illness and improving medical care are generally permissible and beneficial activities. That sector-level conclusion does not prove that every ingredient, research method, contract or commercial practice is compliant.
Current Financial Screening
The calculation below uses Johnson & Johnson's latest available Form 10-Q as of this review and links directly to the official filing at the SEC. Balance-sheet inputs use March 29, 2026, and income inputs use the matching fiscal first quarter.
Current quantitative Sharia screen
Based on 10-Q figures for the period ended 2026-03-29; calculated 2026-07-12.
54,987 / 200,894
22,051 / 200,894
39,409 / 200,894
229 / 24,062
- Financial
- Pass
- Overall
- Incomplete
Debt is 27.37%, cash plus separately classified marketable debt securities is 10.98%, receivables plus cash is 19.62%, and disclosed gross interest income is 0.95%. The financial ratios pass, but a screened business-revenue numerator is unavailable.
- Financial
- Pass
- Overall
- Incomplete
The examined total-assets financial ratios pass. Overall classification remains incomplete because product- and practice-level screened operating revenue is not separately disclosed.
- Financial
- Pass
- Overall
- Incomplete
The examined financial ratios pass, but a screened business-revenue percentage is unavailable. This is a calculation against the SAC ratios, not an official SAC classification of a U.S.-listed security.
- Financial
- Not calculated
- Overall
- Not calculated
A properly licensed and reproducible 24- or 36-month issuer market-cap history is not yet stored, so these methods are not estimated from a current spot price.
Business-activity disclosure
Johnson & Johnson develops and sells medicines and medical technologies through Innovative Medicine and MedTech. Activities that prevent disease, treat illness and preserve life are generally permissible and socially beneficial. Kenvue has been separate since 2023, so legacy consumer-health products are not treated as current JNJ operating revenue.
Limitation: The filing does not classify revenue by Sharia-screened ingredient, excipient, cell line, manufacturing input, research method, licensing arrangement, royalty, product use, marketing practice, or other potentially non-compliant activity. No prohibited core segment is identified, but an exact prohibited-revenue percentage cannot be proven from consolidated disclosure.
Purification
Disclosed gross interest income equals 0.95% of quarterly sales. Screened operating revenue remains unavailable, so this ratio is evidence for the income screen rather than a complete fixed purification prescription.
Inputs, assumptions and primary sources
- Interest-bearing debt is the sum of 17,460 of loans and notes payable plus 37,527 of long-term debt.
- Cash and cash equivalents use the reported 21,688 balance. It already includes money-market funds, reverse repurchase agreements, time deposits and available-for-sale debt securities with original maturities of three months or less.
- Interest-bearing securities add only the separate 363 current marketable-securities balance, avoiding double counting securities already classified within cash equivalents.
- Receivables use the reported 17,721 net trade-accounts-receivable balance.
- Sales and the disclosed 229 of gross interest income use the same fiscal first quarter ended March 29, 2026. Net interest expense was 43 after interest expense, but gross interest income is used for the non-compliant-income screen.
- Johnson & Johnson reported 15,426 of Innovative Medicine sales and 8,636 of MedTech sales, but does not provide a Sharia-screened numerator for product ingredients, manufacturing inputs, licensing, royalties, research methods, marketing, or other potentially non-compliant activity.
This is a reproducible financial screen, not a fatwa. A failed total-assets screen can coexist with a pass under a market-cap methodology. ZakatInvest keeps the qualitative assessment separate so numerical thresholds do not erase material context.
What the Numbers Show
Debt is 27.37% of total assets. Cash plus separately classified marketable debt securities is 10.98%, and trade receivables plus cash is 19.62%. Disclosed gross interest income is 0.95% of quarterly sales. Those examined financial ratios pass.
Cash equivalents already include money-market funds, reverse repurchase agreements, time deposits and short-maturity debt securities, so the calculation adds only the separate $363 million current marketable-securities balance and avoids double counting. Market-cap methods require a reproducible historical average denominator and are not estimated from a spot share price.
Product and Research Review
JNJ does not disclose a Sharia-screened revenue breakdown by ingredient, excipient, cell line, manufacturing input, research method, licensing or royalty arrangement, or specific product use. Product-level evidence should therefore replace blanket claims that every pharmaceutical or device is automatically compliant. Clinical-trial design, informed consent, patient safety, animal research, manufacturing quality and post-market surveillance remain relevant ethical questions.
Preserved Qualitative Concerns
The earlier analysis correctly identified pharmaceutical pricing, patent access and litigation as concerns, but the evidence is now more precise. The filing reports approximately 75,000 pending U.S. talc plaintiffs, a $3.4 billion talc-related reserve and remaining opioid-settlement obligations. These are legacy-conduct, remediation and governance issues rather than automatic numerical Sharia failures.
Investors may also weigh medicine and device affordability, reimbursement, marketing and healthcare-provider relationships; product safety and recalls; supply-chain practices; privacy and cybersecurity; and the planned separation of the Orthopaedics business. Beneficial healthcare outcomes do not remove the need for justice-oriented review.
Dividend and Purification
Johnson & Johnson increased its quarterly dividend to $1.34 per share in April 2026, an indicated $5.36 annual rate. That is a distribution amount, not a live yield; yield changes with the share price. Disclosed gross interest income equals 0.95% of quarterly sales, but screened operating revenue is unavailable, so ZakatInvest does not present 0.95% as a complete fixed purification prescription.
Bottom Line
ZakatInvest's current qualitative verdict for JNJ remains halal, and the examined total-assets financial screens pass. The conclusion rests on its beneficial medicines and medical-technology businesses plus current reproducible ratios, while product-level evidence, interest purification, access, safety, research and legacy conduct remain under qualitative review. This is a screening classification, not an investment recommendation or fatwa; investors seeking a binding ruling should apply their chosen methodology with a qualified Sharia adviser.
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