NYSE : KVUE
Kenvue Inc. — Financial statements
Consumer Staples · Household & Personal Products · United States
Last price 19.31 USD (Oct 30, 2026, 4:00 PM EDT) · Market cap 37.11B
Overview · Financial statements · Key statistics · Dividends · Company profile · Price history · Reports
Financial statements
Kenvue Inc. (KVUE) reported revenue of 15.53B USD (TTM). Five years of income statement, balance sheet, cash flow and ratios below.
Income statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Revenue | 15.53B | 15.12B | 15.46B | 15.44B | 14.95B | 15.05B |
| Cost of Revenue | 6.44B | 6.30B | 6.47B | 6.80B | 6.67B | 6.59B |
| Gross Profit | 9.09B | 8.83B | 8.99B | 8.64B | 8.29B | 8.47B |
| Selling, General & Admin | 6.06B | 6.05B | 6.32B | 6.14B | 5.64B | 5.42B |
| Other Operating Expenses | -7.00M | -11.00M | 22.00M | 9.00M | -36.00M | -100.00M |
| Operating Expenses | 6.06B | 6.04B | 6.34B | 6.15B | 5.60B | 5.32B |
| Operating Income | 3.03B | 2.79B | 2.65B | 2.49B | 2.68B | 3.14B |
| Interest Expense | -422.00M | -430.00M | -431.00M | -358.00M | ||
| Interest & Investment Income | 50.00M | 51.00M | 53.00M | 108.00M | ||
| Currency Exchange Gain (Loss) | -29.00M | -46.00M | -1.00M | -58.00M | -42.00M | -20.00M |
| Other Non Operating Income (Expenses) | 8.00M | 18.00M | 7.00M | 2.00M | 10.00M | 33.00M |
| EBT Excluding Unusual Items | 2.64B | 2.38B | 2.27B | 2.19B | 2.65B | 3.16B |
| Merger & Restructuring Charges | -324.00M | -368.00M | -227.00M | -117.00M | ||
| Gain (Loss) on Sale of Investments | -72.00M | -7.00M | 1.00M | |||
| Gain (Loss) on Sale of Assets | 17.00M | 17.00M | -8.00M | -22.00M | ||
| Asset Writedown | -23.00M | -23.00M | -578.00M | -12.00M | ||
| Legal Settlements | -5.00M | -5.00M | -4.00M | -26.00M | 7.00M | -92.00M |
| Other Unusual Items | 21.00M | 35.00M | ||||
| Pretax Income | 2.31B | 2.00B | 1.42B | 2.19B | 2.64B | 2.92B |
| Income Tax Expense | 616.00M | 529.00M | 385.00M | 526.00M | 573.00M | 847.00M |
| Net Income | 1.69B | 1.47B | 1.03B | 1.66B | 2.06B | 2.08B |
| Net Income to Common | 1.69B | 1.47B | 1.03B | 1.66B | 2.06B | 2.08B |
| Shares Outstanding (Basic) | 1.92B | 1.92B | 1.92B | 1.85B | 1.72B | 1.72B |
| Shares Outstanding (Diluted) | 1.92B | 1.92B | 1.92B | 1.85B | 1.72B | 1.72B |
| EPS (Basic) | 0.88 | 0.77 | 0.54 | 0.90 | 1.20 | 1.21 |
| EPS (Diluted) | 0.88 | 0.76 | 0.54 | 0.90 | 1.20 | 1.21 |
| Free Cash Flow | 2.34B | 1.72B | 1.33B | 2.70B | 2.15B | 39.00M |
| Free Cash Flow Per Share | 1.22 | 0.90 | 0.69 | 1.46 | 1.25 | 0.02 |
| Dividend Per Share | 0.83 | 0.82 | 0.81 | 0.40 | ||
| Gross Margin | 58.53% | 58.37% | 58.14% | 55.96% | 55.42% | 56.24% |
| Operating Margin | 19.54% | 18.41% | 17.13% | 16.15% | 17.93% | 20.88% |
| Profit Margin | 10.88% | 9.72% | 6.67% | 10.77% | 13.81% | 13.80% |
| Free Cash Flow Margin | 15.05% | 11.39% | 8.60% | 17.48% | 14.38% | 0.26% |
| EBITDA | 3.50B | 3.24B | 3.12B | 3.12B | 3.33B | 3.87B |
| EBITDA Margin | 22.56% | 21.44% | 20.21% | 20.21% | 22.24% | 25.73% |
| D&A For EBITDA | 470.00M | 458.00M | 477.00M | 627.00M | 644.00M | 731.00M |
| EBIT | 3.03B | 2.79B | 2.65B | 2.49B | 2.68B | 3.14B |
| EBIT Margin | 19.54% | 18.41% | 17.13% | 16.15% | 17.93% | 20.88% |
| Effective Tax Rate | 26.71% | 26.46% | 27.21% | 24.02% | 21.73% | 28.96% |
| Advertising Expenses | 1.84B | 1.87B | 1.58B | 1.36B | 1.46B |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 1.04B | 1.06B | 1.07B | 1.38B | 1.23B | 740.00M |
| Cash & Short-Term Investments | 1.04B | 1.06B | 1.07B | 1.38B | 1.23B | 740.00M |
| Receivables | 2.50B | 2.38B | 2.17B | 2.07B | 2.12B | 2.07B |
| Inventory | 1.81B | 1.67B | 1.59B | 1.85B | 2.23B | 1.70B |
| Prepaid Expenses | 399.00M | 410.00M | 442.00M | 549.00M | 161.00M | 257.00M |
| Other Current Assets | 182.00M | 177.00M | 257.00M | 283.00M | 137.00M | 154.00M |
| Total Current Assets | 5.94B | 5.70B | 5.53B | 6.14B | 5.88B | 4.93B |
| Property, Plant & Equipment | 2.23B | 2.36B | 1.96B | 2.18B | 1.93B | 1.83B |
| Long-Term Investments | 71.00M | 66.00M | 74.00M | |||
| Goodwill | 9.25B | 9.51B | 8.84B | 9.27B | 9.19B | 9.81B |
| Other Intangible Assets | 8.33B | 8.69B | 8.47B | 9.62B | 9.85B | 10.70B |
| Long-Term Deferred Tax Assets | 244.00M | 237.00M | 184.00M | 158.00M | 147.00M | 189.00M |
| Other Long-Term Assets | 674.00M | 576.00M | 615.00M | 413.00M | 258.00M | 401.00M |
| Total Assets | 26.67B | 27.08B | 25.60B | 27.85B | 27.32B | 27.93B |
| Accounts Payable | 2.69B | 2.47B | 2.25B | 2.49B | 1.83B | 1.83B |
| Accrued Expenses | 1.83B | 1.85B | 1.74B | 2.09B | 1.73B | 1.81B |
| Short-Term Debt | 1.12B | 703.00M | 802.00M | 599.00M | ||
| Current Portion of Long-Term Debt | 748.00M | 748.00M | ||||
| Current Portion of Leases | 41.00M | 45.00M | 38.00M | 44.00M | 35.00M | 47.00M |
| Current Income Taxes Payable | 118.00M | 105.00M | 74.00M | 142.00M | 329.00M | 357.00M |
| Other Current Liabilities | 418.00M | 22.00M | 82.00M | 113.00M | ||
| Total Current Liabilities | 6.22B | 5.95B | 5.74B | 5.48B | 3.93B | 4.04B |
| Long-Term Debt | 7.08B | 6.94B | 6.94B | 7.69B | ||
| Long-Term Leases | 94.00M | 240.00M | 195.00M | 97.00M | 81.00M | 82.00M |
| Pension & Post-Retirement Benefits | 341.00M | 340.00M | 342.00M | 360.00M | 214.00M | 302.00M |
| Long-Term Deferred Tax Liabilities | 2.30B | 2.35B | 2.26B | 2.62B | 2.48B | 2.43B |
| Other Long-Term Liabilities | 476.00M | 494.00M | 460.00M | 394.00M | 646.00M | 674.00M |
| Total Liabilities | 16.51B | 16.31B | 15.93B | 16.64B | 7.35B | 7.53B |
| Common Stock | 19.00M | 19.00M | 19.00M | 19.00M | 25.43B | 24.87B |
| Additional Paid-In Capital | 16.44B | 16.35B | 16.13B | 16.15B | ||
| Retained Earnings | -447.00M | -204.00M | -93.00M | 429.00M | ||
| Treasury Stock | -439.00M | -439.00M | -242.00M | -7.00M | ||
| Comprehensive Income & Other | -5.41B | -4.96B | -6.15B | -5.38B | -5.46B | -4.47B |
| Shareholders' Equity | 10.16B | 10.77B | 9.67B | 11.21B | 19.97B | 20.40B |
| Total Liabilities & Equity | 26.67B | 27.08B | 25.60B | 27.85B | 27.32B | 27.93B |
| Total Debt | 8.34B | 8.67B | 8.72B | 8.43B | 116.00M | 129.00M |
| Net Cash (Debt) | -7.30B | -7.61B | -7.65B | -7.04B | 1.11B | 611.00M |
| Net Cash Per Share | -3.80 | -3.96 | -3.98 | -3.81 | 0.65 | 0.36 |
| Filing Date Shares Outstanding | 1.92B | 1.92B | 1.91B | 1.91B | 1.72B | 1.72B |
| Total Common Shares Outstanding | 1.92B | 1.92B | 1.91B | 1.92B | 1.72B | 1.72B |
| Working Capital | -277.00M | -248.00M | -214.00M | 657.00M | 1.95B | 885.00M |
| Book Value Per Share | 5.29 | 5.62 | 5.05 | 5.85 | 11.63 | |
| Tangible Book Value | -7.42B | -7.44B | -7.65B | -7.68B | 932.00M | -112.00M |
| Tangible Book Value Per Share | -3.86 | -3.88 | -4.00 | -4.01 | 0.54 | |
| Land | 60.00M | 57.00M | 76.00M | 75.00M | 79.00M | |
| Buildings | 1.85B | 1.60B | 1.75B | 1.71B | 1.74B | |
| Machinery | 2.50B | 2.25B | 2.45B | 2.28B | 2.42B | |
| Construction In Progress | 595.00M | 542.00M | 480.00M | 307.00M | 228.00M |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | 1.69B | 1.47B | 1.03B | 1.66B | 2.06B | 2.08B |
| Depreciation & Amortization | 470.00M | 458.00M | 477.00M | 627.00M | 644.00M | 731.00M |
| Other Amortization | 99.00M | 99.00M | 145.00M | |||
| Asset Writedown & Restructuring Costs | 23.00M | 23.00M | 578.00M | 12.00M | ||
| Loss (Gain) From Sale of Investments | 72.00M | 7.00M | -1.00M | |||
| Stock-Based Compensation | 120.00M | 136.00M | 254.00M | 188.00M | 137.00M | 141.00M |
| Other Operating Activities | -32.00M | -41.00M | -216.00M | -115.00M | 194.00M | 516.00M |
| Change in Accounts Receivable | -112.00M | -112.00M | -218.00M | 44.00M | -142.00M | -303.00M |
| Change in Inventory | -32.00M | -12.00M | 182.00M | 349.00M | -582.00M | -77.00M |
| Change in Accounts Payable | 439.00M | 41.00M | -536.00M | 1.45B | 35.00M | 330.00M |
| Change in Income Taxes | 85.00M | -27.00M | -61.00M | -331.00M | -5.00M | -19.00M |
| Change in Other Net Operating Assets | -19.00M | 162.00M | 62.00M | -719.00M | 169.00M | -3.06B |
| Operating Cash Flow | 2.73B | 2.20B | 1.77B | 3.17B | 2.52B | 334.00M |
| Capital Expenditures | -393.00M | -475.00M | -440.00M | -469.00M | -375.00M | -295.00M |
| Sale of Property, Plant & Equipment | 24.00M | 24.00M | 21.00M | 8.00M | 77.00M | |
| Other Investing Activities | -30.00M | 15.00M | 15.00M | -40.00M | -23.00M | 47.00M |
| Investing Cash Flow | -399.00M | -436.00M | -425.00M | -488.00M | -390.00M | -171.00M |
| Short-Term Debt Issued | 157.00M | 574.00M | 14.00M | |||
| Long-Term Debt Issued | 746.00M | 7.69B | ||||
| Total Debt Issued | 810.00M | 746.00M | 157.00M | 8.26B | 14.00M | |
| Short-Term Debt Repaid | -146.00M | -7.00M | ||||
| Long-Term Debt Repaid | -750.00M | |||||
| Total Debt Repaid | -1.65B | -896.00M | -7.00M | |||
| Net Debt Issued (Repaid) | -836.00M | -150.00M | 157.00M | 8.26B | 14.00M | -7.00M |
| Issuance of Common Stock | 4.24B | |||||
| Repurchase of Common Stock | -197.00M | -235.00M | -7.00M | |||
| Common Dividends Paid | -1.60B | -1.58B | -1.55B | -14.55B | ||
| Other Financing Activities | 3.00M | 91.00M | 65.00M | -467.00M | -1.60B | 7.00M |
| Financing Cash Flow | -2.43B | -1.84B | -1.56B | -2.53B | -1.58B | |
| Foreign Exchange Rate Adjustments | -2.00M | 68.00M | -91.00M | -2.00M | -61.00M | -41.00M |
| Net Cash Flow | -100.00M | -8.00M | -312.00M | 151.00M | 491.00M | 122.00M |
| Free Cash Flow | 2.34B | 1.72B | 1.33B | 2.70B | 2.15B | 39.00M |
| Free Cash Flow Margin | 15.05% | 11.39% | 8.60% | 17.48% | 14.38% | 0.26% |
| Free Cash Flow Per Share | 1.22 | 0.90 | 0.69 | 1.46 | 1.25 | 0.02 |
| Levered Free Cash Flow | 2.77B | 1.81B | 1.44B | 2.52B | 1.52B | -1.17B |
| Unlevered Free Cash Flow | 3.03B | 2.08B | 1.70B | 2.74B | 1.52B | -1.17B |
| Cash Interest Paid | 440.00M | 440.00M | 439.00M | 224.00M | ||
| Cash Income Tax Paid | 595.00M | 595.00M | 810.00M | 699.00M | 316.00M | 363.00M |
| Change in Working Capital | 361.00M | 52.00M | -571.00M | 797.00M | -525.00M | -3.13B |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 37.11B | 32.93B | 41.28B | 41.23B | ||
| Enterprise Value | 44.41B | 40.90B | 49.05B | 48.52B | ||
| Last Close Price | 19.31 | 16.41 | 19.74 | 18.98 | ||
| PE Ratio | 21.94 | 22.40 | 40.08 | 24.78 | ||
| Forward PE | 15.90 | 15.87 | 18.02 | 17.09 | ||
| PS Ratio | 2.39 | 2.18 | 2.67 | 2.67 | ||
| PB Ratio | 3.65 | 3.06 | 4.27 | 3.68 | ||
| P/FCF Ratio | 15.87 | 19.12 | 31.06 | 15.28 | ||
| P/OCF Ratio | 13.59 | 14.99 | 23.33 | 13.01 | ||
| PEG Ratio | 1.36 | 4.31 | 3.75 | 28.98 | ||
| EV/Sales Ratio | 2.86 | 2.70 | 3.17 | 3.14 | ||
| EV/EBITDA Ratio | 12.67 | 12.61 | 15.70 | 15.55 | ||
| EV/EBIT Ratio | 14.64 | 14.69 | 18.53 | 19.45 | ||
| EV/FCF Ratio | 19.00 | 23.75 | 36.91 | 17.98 | ||
| Debt / Equity Ratio | 0.82 | 0.81 | 0.90 | 0.75 | 0.01 | 0.01 |
| Debt / EBITDA Ratio | 2.35 | 2.63 | 2.75 | 2.66 | 0.03 | 0.03 |
| Debt / FCF Ratio | 3.57 | 5.04 | 6.56 | 3.12 | 0.05 | 3.31 |
| Net Debt / Equity Ratio | 0.72 | 0.71 | 0.79 | 0.63 | -0.06 | -0.03 |
| Net Debt / EBITDA Ratio | 2.08 | 2.35 | 2.45 | 2.26 | -0.34 | -0.16 |
| Net Debt / FCF Ratio | 3.12 | 4.42 | 5.75 | 2.61 | -0.52 | -15.67 |
| Asset Turnover | 0.58 | 0.57 | 0.58 | 0.56 | 0.54 | 0.53 |
| Inventory Turnover | 3.57 | 3.87 | 3.76 | 3.34 | 3.39 | 3.89 |
| Quick Ratio | 0.57 | 0.58 | 0.56 | 0.63 | 0.85 | 0.70 |
| Current Ratio | 0.95 | 0.96 | 0.96 | 1.12 | 1.50 | 1.22 |
| Return on Equity (ROE) | 16.25% | 14.39% | 9.87% | 10.67% | 10.23% | 10.72% |
| Return on Assets (ROA) | 7.03% | 6.61% | 6.19% | 5.65% | 6.07% | 6.88% |
| Return on Invested Capital (ROIC) | 12.52% | 11.47% | 10.83% | 10.21% | 10.86% | 11.85% |
| Return on Capital Employed (ROCE) | 14.80% | 13.20% | 13.30% | 11.10% | 11.50% | 13.20% |
| Earnings Yield | 4.56% | 4.46% | 2.50% | 4.04% | ||
| FCF Yield | 6.30% | 5.23% | 3.22% | 6.55% | ||
| Dividend Yield | 4.35% | 4.80% | 3.75% | 1.86% | ||
| Payout Ratio | 95.45% | 107.55% | 150.68% | 874.64% | ||
| Buyback Yield / Dilution | 0.18% | -0.05% | -3.95% | -7.81% | 0.01% | |
| Total Shareholder Return | 4.53% | 4.75% | -0.19% | -5.95% | 0.01% |