Munger Mode rating: 3 out of 5 — Hold. Our own rating from the research report below, on business quality first: moat durability and management, with price separating the top three.
We have watched this company for the better part of six decades, and the verdict on the business has never really changed: Johnson & Johnson is one of the great compounding machines of American capitalism — 140 years old, on track for its first $100 billion revenue year, and 64 consecutive years of dividend increases. That last number is not a marketing slogan; it is the fossil record of a durable enterprise. But a wonderful business and a wonderful investment are two different things, and the difference is the price. JNJ closed at $255.63 on July 22, within a few percent of its all-time high of $267 set earlier this month, after a roughly 40% run over the past twelve months.
Recent filings analysed: 8-K (2026-08-04), 8-K (2026-07-29), 8-K (2026-07-28), 10-Q (2026-07-23).
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