BA vs. JNJ

Last updated Jun 13, 2026

BA (The Boeing Company) and JNJ (Johnson & Johnson) are both stocks. BA operates in Aerospace & Defense (Industrials), while JNJ operates in Drug Manufacturers - General (Healthcare). Over the past 10 years, BA returned 6.28%/yr vs 10.46%/yr for JNJ. At a 0.28 correlation, their price movements are largely independent.

Performance

BA vs. JNJ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in The Boeing Company (BA) and Johnson & Johnson (JNJ). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BA achieves a 0.89% return, which is significantly lower than JNJ's 17.68% return. Over the past 10 years, BA has underperformed JNJ with an annualized return of 6.28%, while JNJ has yielded a comparatively higher 10.46% annualized return.

BA

• 1D: -1.16%
• 1M: -0.65%
• YTD: 0.89%
• 6M: 7.18%
• 1Y: 9.35%
• 3Y*: -0.20%
• 5Y*: -2.40%
• 10Y*: 6.28%

JNJ

• 1D: 1.07%
• 1M: 6.86%
• YTD: 17.68%
• 6M: 15.11%
• 1Y: 57.15%
• 3Y*: 17.82%
• 5Y*: 10.94%
• 10Y*: 10.46%

*Multi-year figures are annualized to reflect compound growth (CAGR)

BA vs. JNJ - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
BA The Boeing Company	0.89%	22.67%	-32.10%	36.84%	-5.38%	-5.95%	-33.90%	3.34%	11.50%	94.72%
JNJ Johnson & Johnson	17.68%	47.48%	-4.81%	-8.58%	5.97%	11.44%	10.82%	16.22%	-5.13%	24.43%

Correlation

The correlation between BA and JNJ is 0.04, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.04
Correlation (3Y) Calculated over the trailing 3-year period	0.05
Correlation (5Y) Calculated over the trailing 5-year period	0.08
Correlation (10Y) Calculated over the trailing 10-year period	0.16
Correlation (All Time) Calculated using the full available price history since Jan 2, 1970	0.28

Over the past year, the correlation between BA and JNJ has dropped to 0.04 - well below their long-term average of 0.28, suggesting their price drivers have been diverging.

Fundamentals

Market Cap BA : $179.22B JNJ : $588.98B
EPS BA : $2.90 JNJ : $8.65
PE Ratio BA : 75.49 JNJ : 27.85
PEG Ratio BA : 11.83 JNJ : 0.93
PS Ratio BA : 1.86 JNJ : 6.08
PB Ratio BA : 29.97 JNJ : 7.25
Total Revenue (TTM) BA : $92.18B JNJ : $96.36B
Gross Profit (TTM) BA : $4.43B JNJ : $66.60B
EBITDA (TTM) BA : $7.13B JNJ : $31.62B

Return for Risk

BA vs. JNJ — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

BA

BA Risk / Return Rank: 48
BA Sharpe Ratio Rank: 51
BA Sortino Ratio Rank: 46
BA Omega Ratio Rank: 45
BA Calmar Ratio Rank: 50
BA Martin Ratio Rank: 50

JNJ

JNJ Risk / Return Rank: 96
JNJ Sharpe Ratio Rank: 97
JNJ Sortino Ratio Rank: 98
JNJ Omega Ratio Rank: 97
JNJ Calmar Ratio Rank: 93
JNJ Martin Ratio Rank: 94

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

BA vs. JNJ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for The Boeing Company (BA) and Johnson & Johnson (JNJ). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	BA	JNJ	Difference
Sharpe ratio: Return per unit of total volatility	0.24	3.42	-3.18
Sortino ratio: Return per unit of downside risk	0.58	4.94	-4.36
Omega ratio: Gain probability vs. loss probability	1.07	1.61	-0.54
Calmar ratio: Return relative to maximum drawdown	0.30	5.28	-4.98
Martin ratio: Return relative to average drawdown	0.69	15.52	-14.84

BA vs. JNJ - Sharpe Ratio Comparison

The current BA Sharpe Ratio is 0.24, which is lower than the JNJ Sharpe Ratio of 3.42. The chart below compares the historical Sharpe Ratios of BA and JNJ, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

BA vs. JNJ - Drawdown Comparison

The maximum BA drawdown since its inception was -89.45%, which is greater than JNJ's maximum drawdown of -50.67%. Use the drawdown chart below to compare losses from any high point for BA and JNJ.

Drawdown Indicators

	BA	JNJ	Difference
Max Drawdown Largest peak-to-trough decline	-89.45%	-50.67%	-38.78%
Max Drawdown (1Y) Largest decline over 1 year	-24.96%	-10.96%	-14.00%
Max Drawdown (3Y) Largest decline over 3 years	-48.31%	-15.95%	-32.36%
Max Drawdown (5Y) Largest decline over 5 years	-53.76%	-18.41%	-35.35%
Max Drawdown (10Y) Largest decline over 10 years	-77.92%	-27.37%	-50.55%
Current Drawdown Current decline from peak	-49.09%	-2.54%	-46.55%
Average Drawdown Average peak-to-trough decline	-31.02%	-11.90%	-19.12%
Ulcer Index Depth and duration of drawdowns from previous peaks	10.95%	3.72%	+7.23%

Volatility

BA vs. JNJ - Volatility Comparison

The Boeing Company (BA) has a higher volatility of 12.44% compared to Johnson & Johnson (JNJ) at 5.47%. This indicates that BA's price experiences larger fluctuations and is considered to be riskier than JNJ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BA	JNJ	Difference
Volatility (1M) Calculated over the trailing 1-month period	12.44%	5.47%	+6.97%
Volatility (6M) Calculated over the trailing 6-month period	23.39%	12.16%	+11.23%
Volatility (1Y) Calculated over the trailing 1-year period	32.33%	16.94%	+15.39%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	36.58%	16.87%	+19.71%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	41.61%	18.48%	+23.13%

Dividends

BA vs. JNJ - Dividend Comparison

BA has not paid dividends to shareholders, while JNJ's dividend yield for the trailing twelve months is around 2.18%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BA The Boeing Company	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.96%	2.52%	2.12%	1.93%	2.80%	2.52%
JNJ Johnson & Johnson	2.18%	2.48%	3.40%	3.00%	2.52%	2.45%	2.53%	2.57%	2.74%	2.38%	2.73%	2.87%

Financials

BA vs. JNJ - Profitability Comparison

The chart below illustrates the profitability comparison between The Boeing Company and Johnson & Johnson over time, highlighting three key metrics: Gross Profit Margin, Operating Margin, and Net Profit Margin.

BA - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, The Boeing Company reported a gross profit of 2.55B and revenue of 22.22B. Therefore, the gross margin over that period was 11.5%.

JNJ - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Johnson & Johnson reported a gross profit of 17.20B and revenue of 24.06B. Therefore, the gross margin over that period was 71.5%.

BA - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, The Boeing Company reported an operating income of 448.00M and revenue of 22.22B, resulting in an operating margin of 2.0%.

JNJ - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Johnson & Johnson reported an operating income of 6.40B and revenue of 24.06B, resulting in an operating margin of 26.6%.

BA - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, The Boeing Company reported a net income of -4.00M and revenue of 22.22B, resulting in a net margin of -0.0%.

JNJ - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Johnson & Johnson reported a net income of 5.24B and revenue of 24.06B, resulting in a net margin of 21.8%.

Frequently Asked Questions

Can I hold both BA and JNJ in my portfolio?

BA and JNJ have a correlation of 0.04, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, BA or JNJ?

BA has higher volatility (12.44%) compared to JNJ (5.47%). In terms of maximum drawdown, BA dropped -89.45% vs JNJ's -50.67%.

Which has better risk-adjusted returns?

JNJ currently has the higher Sharpe Ratio (3.42 vs 0.24), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.