JNJ · Forward model · MedTech Orthopaedics
What has to happen in MedTech Orthopaedics
Model as of
This page changes MedTech Orthopaedics inside the complete JNJ model. Every other vertical, corporate programme and valuation assumption stays in the selected portfolio case.
Shares this vertical and portfolio case. Slider and horizon edits stay in your browser.
MedTech Orthopaedics
Basis quarter$2.42B
Final quarter$2.88B
Implied CAGR+4%
Final revenue mix8%
Hips, knees, trauma and spine. Growing mid-single digits and announced in October 2025 for separation from J&J within 18-24 months.
Last four quarters
2025 Q3
$2.27B
Reported
2025 Q4
$2.44B
Reported
2026 Q1
$2.38B
Reported
2026 Q2
$2.42B
Reported
HipsKneesTraumaSpine, sports and other
Sequential growth
+1.1%/qtr
decaying toward +0.7%
1.1% a quarter deseasonalised against +4.9% year over year; the line stays consolidated.
MedTech Orthopaedics
Latest: $2.88B (2031Q2E)
| Period | Value |
|---|---|
| 2023Q1 | $2.25B |
| 2023Q2 | $2.27B |
| 2023Q3 | $2.16B |
| 2023Q4 | $2.27B |
| 2024Q1 | $2.34B |
| 2024Q2 | $2.31B |
| 2024Q3 | $2.19B |
| 2024Q4 | $2.31B |
| 2025Q1 | $2.24B |
| 2025Q2 | $2.31B |
| 2025Q3 | $2.27B |
| 2025Q4 | $2.44B |
| 2026Q1 | $2.38B |
| 2026Q2 | $2.42B |
| 2026Q3E | $2.35B |
| 2026Q4E | $2.50B |
| 2027Q1E | $2.50B |
| 2027Q2E | $2.52B |
| 2027Q3E | $2.44B |
| 2027Q4E | $2.60B |
| 2028Q1E | $2.59B |
| 2028Q2E | $2.62B |
| 2028Q3E | $2.53B |
| 2028Q4E | $2.69B |
| 2029Q1E | $2.68B |
| 2029Q2E | $2.71B |
| 2029Q3E | $2.62B |
| 2029Q4E | $2.78B |
| 2030Q1E | $2.77B |
| 2030Q2E | $2.79B |
| 2030Q3E | $2.70B |
| 2030Q4E | $2.87B |
| 2031Q1E | $2.86B |
| 2031Q2E | $2.88B |
Assumptions & reasoning
- J&J announced its intention to separate Orthopaedics in October 2025, with targeted completion 18 to 24 months after that announcement and the structure not yet chosen. The base case keeps the line consolidated for the whole horizon because FY2026 guidance still includes it.
- If the separation completes on schedule, roughly the $10.4B this model projects for FY2028 and its MedTech margin leave the consolidated entity. Nothing in this model removes them, so read every year after 2027 as a pre-separation figure.
- Seasonality applied with the research's caveat: the Q3 trough of 0.967 carries only a 1.3% spread and matches the European summer elective slowdown, but the Q1 factor's 4.3% spread makes this vector weaker than Surgery's.