Kenvue (KVUE)
Consumer Staples · $33.9B market cap · SEC CIK 0001944048
fundamentals score out of 100
Next reports on Nov 2, 2026, before the open, with analysts expecting $0.30 in earnings per share.
The case for KVUE
- Pays a 4.7% dividend while you wait.
- Return on equity of 16%.
- Gross margin of 59% absorbs cost shocks.
- Moves less than the market (beta 0.46).
The case against
- Dividend takes 96% of earnings, leaving little cushion.
- Revenue grew only 1.8%, roughly the pace of inflation.
What the score is made of
Each factor is half a curve over reported figures and half a rank among the other Consumer Staples companies (momentum is judged against fixed thresholds only), and the five are blended by weight. It describes the last filing and the current price. It is not a forecast.
| Valuewhat you pay for the earnings, sales, assets and cash | 66 |
|---|---|
| Growthhow fast revenue and earnings are moving, this year and over five | 45 |
| Profitabilityhow much of the revenue becomes profit, and how much of that is cash | 62 |
| Momentumhow the price has behaved lately | 49 |
| Stabilityhow violently it moves, what it owes and what it pays you | 77 |
- Each factor except momentum is half fixed thresholds, half rank among the 36 Consumer Staples companies.
Key numbers
| Price / earnings | 20.5× |
|---|---|
| Price / book | 3.47× |
| Price / sales | 2.2× |
| Revenue growth (YoY) | +1.8% |
| EPS growth (YoY) | +17.2% |
| Gross margin | 59% |
| Operating margin | 17% |
| Net margin | 11% |
| Return on equity | 16% |
| Debt / equity | 0.80× |
| Current ratio | 1.01 |
| Dividend yield | 4.69% |
| Beta | 0.46 |
| 52-week range | $14.02 – $20.13 |
| Position in that range | 63% of the way up |
| 3-month return | -2.5% |
| 1-year return | -3.7% |
Five years of financials, as filed
Pulled from Kenvue's XBRL filings on SEC EDGAR. Italic rows are derived from the rows above.
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|
| Revenue | $15.1B | $15.5B | $15.4B | $14.9B | $15.1B |
| Gross profit | $8.8B | $9.0B | $8.6B | $8.3B | $8.4B |
| Operating income | $2.4B | $1.8B | $2.5B | $2.7B | $2.9B |
| Net income | $1.5B | $1.0B | $1.7B | $2.1B | $2.1B |
| Operating cash flow | $2.2B | $1.8B | $3.2B | $2.5B | $334M |
| Capital expenditure | $475M | $434M | $469M | $375M | $295M |
| Total assets | $27.1B | $25.6B | $27.9B | $27.3B | — |
| Total liabilities | $16.3B | $15.9B | $16.6B | $7.3B | — |
| Shareholder equity | $10.8B | $9.7B | $11.2B | $20.0B | $20.5B |
| Cash | $1.1B | $1.1B | $1.4B | $1.2B | $740M |
| Long-term debt | — | — | $7.7B | $0 | — |
| Free cash flow | $1.7B | $1.3B | $2.7B | $2.1B | $39.0M |
| Gross margin | 58.1% | 58.0% | 56.0% | 55.4% | 55.9% |
| Operating margin | 16.0% | 11.9% | 16.3% | 17.9% | 19.4% |
| Net margin | 9.7% | 6.7% | 10.8% | 13.8% | 13.8% |
| Diluted shares | 1.9B | 1.9B | 1.9B | 1.7B | 1.7B |
Share count is up 12.1% over 4 years. Your slice has been diluted.
What Kenvue says it does
Company Overview At Kenvue, our purpose is to realize the extraordinary power of everyday care. As a global leader at the intersection of healthcare and consumer goods, we are the world’s largest pure-play consumer health company by revenue with $15.1 billion in Net sales in the fiscal year 2025. By combining the power of science with meaningful consumer insights and our digital strategy, we empower consumers to live healthier lives every day. Built on more than a century of heritage and trusted by generations, our differentiated portfolio of iconic brands—including Aveeno ® , BAND-AID ® Brand, Johnson’s ® , Listerine ® , Neutrogena ® , Nicorette ® , Tylenol ® , and Zyrtec ® —is backed by science and recommended by healthcare professionals, which further reinforces our consumers’ connections to our brands. Our portfolio includes Self Care, Skin Health and Beauty, and Essential Health products,…
Risk factors KVUE lists in its 10-K
- Risks Related to the Proposed Transaction with K-C
- Risks Related to Our Business, Industry, and Operations
- Risks Related to Government Regulation, Legal Proceedings, and Financial and Economic Market Conditions
- Risks Related to Our Relationship with J&J
- Risks Related to Ownership of Our Common Stock
- Failure to consummate the Proposed Transaction, or a delay in the consummation of the Proposed Transaction, could negatively impact our business, results of operations, financial condition, and stock price
- Holders of our common stock will have a significantly reduced ownership and voting interest in the combined company after the Proposed Transaction and will therefore have less voting influence over the combined company
- Litigation against us or K-C, or the members of our or K-C’s board of directors, could prevent or delay the completion of the Proposed Transaction
- The Merger Agreement restricts our ability to pursue alternatives to the Proposed Transaction
- The need for regulatory approvals may delay the date of completion of the Proposed Transaction or may diminish the benefits of the Proposed Transaction
- If the Proposed Transaction is consummated, its completion is expected to trigger change-in-control or other provisions in certain agreements to which we or K-C is a party
- Failure to integrate our and K-C’s businesses and operations successfully in the expected time frame may adversely affect the future results of the combined company
- The Merger Agreement subjects us to restrictions on our business activities prior to the effective time of the Proposed Transaction
- We have incurred, and will continue to incur, significant costs in connection with the Proposed Transaction, which may be in excess of those we anticipated