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Kenvue Inc.

KVUE Consumer Defensive Household & Personal Products

Kenvue Inc.’s revenue for fiscal 2025 (year ended December 2025) was $15.1 billion, down 2.14% from fiscal 2024.

Revenue
+3.24%
EPS
+6.57%
Free cash flow
+216.3%
Total debt
+0.35%

Quarter to September 2026, against a year earlier

19.31 0.25 −1.28%
Market cap
$37.1B
P/E
21.8×
Fwd P/E
20.3×
Dividend yield
5.40%
F-score
5/9
Altman Z
2.05
Beneish M
−2.47
Dividend safety
24/100
Overview Business Profile Earnings & Analysis
Financials
Income Statement Balance Sheet Cash Flow Metrics & Ratios
Segments Filings

Revenue by segment Fiscal 2025

  • Self Care
  • Essential Health
  • Skin Health and Beauty

Every year since 2021 →

Insider Decisions last twelve months

Bought, $m 110.99
Sold, $m 0.75
Trades a month
Jan 26 Apr 26 Jul 26 Oct 26
Buy 1 — — — — — — — — — — —
Sell — — — — — 1 1 — — — — —
Insider Ownership 0.05%

Capital & Financial Ratios $m

Size
Market Cap 37,090.00
Revenue ttm 15,530.00
Net income ttm 1,690.00
Free cash flow ttm 2,362.00
Net debt Q 6,046.00
Valuation
P/E 21.85
Forward P/E 20.30
Price / sales 2.39
Forward P/S Powerpack
Price / FCF 15.70
Price / book 3.52
Financial health
Current ratio Q 0.96 (below 1: weak)
Debt / equity Q 0.70
Interest coverage Q 7.93
Growth
Revenue growth Q +3.24% (above 0%: growing)
Operating income growth Q +12.24% (above 0%: growing)
EPS, this year +8.71%
EPS, next year A +5.81%
Revenue, next year A +3.12%
EPS, past 5 yrs —
EPS, next 5 yrs A +7.23%

Green and red mark values outside typical ranges; (Q) is the latest quarter, (A) analysts’ estimates. How we judge →

Valuation vs history

EV/Sales, ten years
EV/Sales is 2.8×, against a ten-year median of 2.9×; over the ten years it ranged from 2.2× in 2025 to 3.6× in 2023.
P/E against its own 10 years 26.11%
10-year low 10-year high
P/S against its own 10 years 39.22%
10-year low 10-year high
P/B against its own 10 years 53.71%
10-year low 10-year high
EV/Sales against its own 10 years 38.08%
10-year low 10-year high
EV/FCF against its own 10 years 14.25%
10-year low 10-year high

Dividends raised every year since 2023

Yield
5.40%
Annual rate
1.04
Payout ratio
118.0%
Growth, 2023–26
+27.8%/yr
  1. 0.40 ’23
  2. 0.81 ’24 +102%
  3. 0.83 ’25 +2%
  4. 0.84 ’26 +1%
paid Powerpack

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 1,382 1,070 1,062 1,110
Receivables 2,073 2,165 2,382 2,476
Inventory 1,851 1,591 1,666 1,722
Other 265 205 155 141
6,138 5,525 5,697 5,899
2023 2024 2025 Q'26
Payables 2,489 2,254 2,473 2,577
ST’ Debt — — — —
Other — — — —
5,481 5,739 5,945 5,867

Compound Annual Growth %

10y 5y 3y
Sales — 0.89% 0.39%
Cash Flow — (8.35%) (4.53%)
Earnings — 0.00% (10.70%)
Book Value — (10.12%) (18.61%)

Earnings Trends EPS, adjusted, against the consensus

Q3 FY26 Estimate 0.28 Actual 0.29

Earnings per share against the consensus, by quarter
Quarter Estimate Reported Result
Q4 FY25 0.22 0.27 Beat by 0.05
Q1 FY26 0.27 0.32 Beat by 0.05
Q2 FY26 0.32 0.31 Miss by 0.01
Q3 FY26 0.28 0.29 Beat by 0.01
Q4 FY26 0.28 — Reports 16 February 2027

EPS $

Mar Jun Sep Dec Year
’26 0.25 0.24 0.22 — —
’25 0.17 0.22 0.21 0.17 0.76
’24 0.15 0.03 0.20 0.15 0.54
’23 0.27 0.23 0.23 0.17 0.90
’22 0.31 0.35 0.34 0.20 1.20
’21 — — — — 1.21
’20 — — — — (0.47)
Fiscal quarters ending in the months shown.

Revenue $m

Mar Jun Sep Dec Year
’26 3,909 3,955 3,886 — —
’25 3,741 3,839 3,764 3,780 15,124
’24 3,894 4,000 3,899 3,662 15,455
’23 3,852 4,011 3,915 3,666 15,444
’22 3,590 3,804 3,789 3,767 14,950
’21 — — — — 15,054
’20 — — — — 14,467
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Mar Jun Sep Dec Year
’26 489 688 — — —
’25 428 621 294 854 2,197
’24 287 440 249 793 1,769
’23 802 742 674 950 3,168
’22 338 807 736 644 2,525
’21 — — — 334 334
’20 — — — 3,397 3,397
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Mar Jun Sep Dec Year
’26 350 624 620 — —
’25 249 533 196 768 1,746
’24 134 350 190 655 1,329
’23 761 665 560 734 2,720
’22 301 733 639 467 2,158
’21 — — — 175 116
’20 — — — 3,344 3,344
Fiscal quarters ending in the months shown.

Target Price Range

Analyst price targets

Recommendation Rating

2.9
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to December

Ten-year view Analyst estimates Powerpack
Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 TTM Sep ’26 Trend 10 yrs 2026e 2027e 2028e Next 3/yr
Income, $m
Income, $m Revenue — — — 14,324 14,467 15,054 14,950 15,444 15,455 15,124 15,530 +0.9% 15,596 15,967 16,483 +2.9%
Gross margin, % — — — 53.49 54.25 55.93 55.42 55.96 57.97 58.13 58.30 +4.6 pt
EBT — — — 2,120 (1,016) 2,925 2,637 2,190 1,415 1,999 2,306 (1.0%)
EBT margin, % — — — 14.80 (7.02) 19.43 17.64 14.18 9.16 13.22 14.85 (1.6) pt
Net income — — — 1,435 (879) 2,078 2,064 1,664 1,030 1,470 1,690 +0.4%
Per share, $
Per share, $ Revenue — — — 7.58 7.66 8.77 8.71 8.37 8.07 7.89 8.08 +0.7%
Earnings — — — 0.76 (0.47) 1.21 1.20 0.90 0.54 0.77 0.88 +0.2%
Cash flow — — — 1.59 1.80 0.19 1.47 1.72 0.92 1.15 1.42 (5.3%)
Capex — — — (0.11) (0.03) (0.13) (0.21) (0.24) (0.23) (0.24) (0.19) +13.7%
Free cash flow — — — 1.48 1.77 0.07 1.26 1.47 0.69 0.91 1.23 (7.8%)
Book value — — — 0.00 9.72 11.89 11.64 6.07 5.05 5.62 0.00 n/m
Shares, m — — — 1,889 1,889 1,716 1,716 1,846 1,915 1,917 1,919 +0.2%
Valuation, ×
Valuation, × P/E — — — 23.02 23.02 23.02 23.02 23.88 40.28 22.40 21.85 25.5
P/S — — — 3.03 3.03 3.03 3.03 2.58 2.65 2.19 2.39 2.8
P/B — — — 2.28 2.28 2.28 2.28 3.55 4.23 3.07 3.52 2.9
EV/Sales — — — 3.43 3.43 3.43 3.43 2.99 3.03 2.58 2.77 3.2
EV/FCF — — — 20.06 20.06 20.06 20.06 16.96 35.27 22.38 18.23 22.1
Cash, $m
Cash, $m Operating cash flow — — — 2,998 3,397 334 2,525 3,168 1,769 2,197 2,731 (5.0%)
Capex — — — (206) (53) (218) (367) (448) (440) (451) (369) +14.0%
Free cash flow — — — 2,792 3,344 116 2,158 2,720 1,329 1,746 2,362 (7.5%)
Balance, $m
Balance, $m Working capital — — — — (2,899) 885 1,951 657 (214) (248) (277) (38.8%)
Net debt — — — — (458) (611) (1,150) 6,305 5,985 6,009 6,046 n/m
Shareholders’ equity — — — — 18,356 20,399 19,970 11,211 9,668 10,765 10,553 (10.1%)
Returns, %
Returns, % ROA — — — 0.00 (6.03) 7.28 7.47 6.03 3.85 5.58 6.27 +5.6 pt
ROIC — — — 0.00 (3.42) 9.22 8.88 8.96 7.35 8.99 0.00 +9.0 pt
ROE — — — 0.00 0.00 10.72 10.23 10.67 9.87 14.39 16.25 +14.4 pt
People
People Employees — — — — — 20,000 22,200 22,000 22,000 22,000 — +2.4%
Revenue/emp, $m — — — 0.00 0.00 0.75 0.67 0.70 0.70 0.69 — n/m
Negative figures in brackets.
estimates

All 10 years →

Fiscal years to Dec 2025 · latest quarter Sep 2026 · fundamentals updated 2 Nov 2026

Business profile

Updated

Kenvue is a consumer health company that sells over-the-counter medicines, skin and hair care, oral care, baby care, wound care and women’s health products. Its portfolio is organized around three businesses: Self Care, Skin Health and Beauty, and Essential Health.

Self Care includes cough, cold and allergy, pain care, digestive health, smoking cessation and eye care products. Its brands include Benadryl®, Calpol®, Motrin®, Nicorette®, Tylenol®, Zarbee’s® and Zyrtec®. Skin Health and Beauty sells face, body, hair and sun-care products, including Aveeno®, Neutrogena®, OGX®, Rogaine® and Dr.Ci:Labo®. Essential Health includes oral care, baby care, wound care, women’s health and other personal-care products, with brands including BAND-AID® Brand, Carefree®, Desitin®, Johnson’s®, Listerine®, o.b.® tampons and Stayfree®.

Where the money comes from and where it goes Fiscal 2025

Fiscal 2025: revenue by segment, and margins
Self Care 6,378 42.17%
Essential Health 4,632 30.63%
Skin Health and Beauty 4,114 27.20%
Gross margin 58.13%
Operating margin 15.96%
Pre-tax margin 13.22%

Revenue by segment since 2021

Kenvue Inc. vs peers in Household & Personal Products (Q) = latest quarter vs a year earlier

Company Market cap P/E Fwd P/E Revenue growth (Q) EPS growth (Q) FCF growth (Q) Gross margin (Q) EBIT margin (Q) Compare
PG Procter & Gamble Company (The) $374.5B 23.9× 23.6× +1.50% (above 0%: growing) −15.23% (below 0%: shrinking) +2.06% (above 0%: growing) 48.50% 18.62% Compare
UL Unilever PLC $140.6B 11.0× — +8.58% (above 0%: growing) +8.84% (above 0%: growing) −19.66% (below 0%: shrinking) 0.00% 0.00% Compare
CL Colgate-Palmolive Company $76.0B 37.5× 26.3× +4.91% (above 0%: growing) −5.43% (below 0%: shrinking) +11.73% (above 0%: growing) 61.48% 18.95% Compare
EL The Estee Lauder Companies Inc. $39.6B 214× 37.4× +6.33% (above 0%: growing) +78.81% (above 0%: growing) +7.87% (above 0%: growing) 75.46% (1.08%) Compare
KVUE Kenvue Inc. $37.1B 22.2× 20.3× +3.02% (above 0%: growing) +9.09% (above 0%: growing) +17.07% (above 0%: growing) 58.18% 17.67%
KMB Kimberly-Clark Corporation $35.9B 18.4× 16.9× +0.62% (above 0%: growing) −32.03% (below 0%: shrinking) −4.79% (below 0%: shrinking) 38.27% 15.11% Compare
CHD Church & Dwight Co., Inc. $25.4B 34.4× 28.9× +1.57% (above 0%: growing) +10.26% (above 0%: growing) +23.33% (above 0%: growing) 45.35% 18.07% Compare
CLX The Clorox Company $10.6B 18.3× 15.6× −2.01% (below 0%: shrinking) −50.37% (below 0%: shrinking) +11.42% (above 0%: growing) 41.27% 13.24% Compare
ELF e.l.f. Beauty $6.6B 112× 59.3× +35.52% (above 0%: growing) +91.53% (above 0%: growing) +447.39% (above 0%: growing) 83.20% 21.37% Compare
Median of peers $37.7B 29.1× 26.3× +3.24% +1.71% +9.65% 46.93% 16.59%

All 31 Household & Personal Products stocks →

Largest institutional holders 13F, quarter to 30 June 2026

Held by institutions 94.27%
Held by the ten largest 49.47%
Holder Shares Stake Change
Vanguard 238.98m 12.45% +2.13m
Fidelity (FMR) 157.05m 8.18% +21.96m
BlackRock 150.83m 7.85% +5.53m
State Street 121.62m 6.33% +2.05m
Geode Capital Management 52.02m 2.71% +751.10k
Pentwater Capital Management LP 51.13m 2.66% −870.00k
Independent Franchise Partners LLP 50.43m 2.63% +1.22m
Norges Bank 46.16m 2.40% +46.16m
MFS Investment Management 44.72m 2.33% −5.03m
Millennium Management 36.94m 1.92% +5.14m
13F filings for the quarter to 30 June 2026: long positions in US-listed shares reported by managers with $100m or more, ~45 days after the quarter.

Pay and ownership Proxy statement filed 8 April 2026

Ownership

Directors and executive officers, together 1.59%
The Vanguard Group100 Vanguard Blvd.Malvern, PA 12.15%
BlackRock, Inc.50 Hudson YardsNew York, NY 6.72%
State Street CorporationState Street Financial Center1 Congress Street, Suite 6.63%
Ownership is the proxy’s own table: the directors and officers as a group, and every holder of 5% or more. Read the proxy statement

Kenvue Inc. (KVUE) Latest News

2 Nov

Impact 5 · · PR Newswire
Impact 3 · · 24/7 Wall St.

30 Oct

Impact 3 · · Business Wire

29 Oct

Impact 3 · · Zacks

28 Oct

Impact 3 · · Trefis

27 Oct

Impact 4 · · PR Newswire
Impact 3 · · Trefis

23 Oct

Impact 4 · · Simply Wall St.

22 Oct

Impact 4 · · PR Newswire
Impact 3 · · GlobeNewswire

21 Oct

Impact 4 · · 24/7 Wall St.
Impact 4 · · 24/7 Wall St.
Impact 3 · · Business Wire
Impact 3 · · 24/7 Wall St.

19 Oct

Impact 4 · · PR Newswire

15 Oct

Impact 4 · · Simply Wall St.
Impact 4 · · Barchart

13 Oct

Impact 5 · · 24/7 Wall St.
Impact 4 · · PR Newswire

11 Oct

Impact 3 · · Barchart

8 Oct

Impact 4 · · 24/7 Wall St.

7 Oct

Impact 4 · · Insider Monkey
Impact 4 · · Simply Wall St.

5 Oct

Impact 5 · · TheStreet

3 Oct

Impact 4 · · Simply Wall St.
Impact 4 · · TIKR

1 Oct

Impact 4 · · Simply Wall St.
Impact 4 · · PR Newswire
Impact 3 ·

30 Sep

Impact 4 · · Simply Wall St.

KVUE metrics, ten years each

stockrow.com/KVUE · Data as of Nov 2, 2026 · For information only; not investment advice. · © 2026 stockrow.com