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KVUEKenvue

Consumer staples · Cosmetics · NYSE
KVUE quote by TradingView
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FY2025 at a glance

Sales down 2.1%, free cash flow up to $1.7B

XBRL, from each 10-K
RevenueStatements ↓
$15.1B
from $15.5B in FY2024
FY2022FY2025
Net incomeStatements ↓
$1.5B
from $1.0B in FY2024
FY2022FY2025
Free cash flowStatements ↓
$1.7B
from $1.3B in FY2024
FY2022FY2025
EPS (diluted)Statements ↓
$0.76
from $0.54 in FY2024
FY2022FY2025
Operating marginStatements ↓
16.0%
from 11.9% in FY2024
FY2022FY2025
Total debtStatements ↓
$8.5B
from $8.6B in FY2024
FY2022FY2025
Price and key numbers

The latest figures

All key numbers (40, from the latest 10-K and 10-Q) From EDGAR
EPS (ttm)0.88Sales (ttm)15.5BNet income (ttm)1.7BSales growth-2.1%EPS growth+40.7%Sales Q/Q+3.2%
Free cash flow2.3BGross margin58.3%Oper. margin17.4%Net margin10.9%FCF margin15.1%ROE16.6%
ROA6.3%R&D / sales2.5%Dividend0.82Debt/Eq0.81Curr. ratio0.96Cash1.0B
Op. cash flow (ttm)2.7BEBITDA3.0BEBITDA margin19.6%Net debt7.2BQuick ratio0.69Interest cover5.61
ROIC9.7%Payout ratio108.6%Tax rate26.5%Stock pay / sales0.9%Shares out.1.9BShares Y/Y+0.1%
Book / share5.29Cash / share0.54Sales / share8.08Asset turnover0.58Inventory turns3.80Days sales out.57
Sales 3Y CAGR+0.4%EPS 3Y CAGR-14.2%Employees22,000Sales / employee706K

Hover or tap a number to see the XBRL line item and filing it comes from; click it to open that filing at SEC. What each number means. Looks wrong? Tell us.

Changes in the numbers

FY2025 against FY2024
  • Free cash flow rose 29%$1.3B → $1.7B · Cash from operations − capital expenditure · 10-K ↗
  • Operating margin widened to 16.0%11.9% → 16.0% · Operating income / revenue · 10-K ↗
What management wrote about it → · Every company →

KVUE against Consumer staples peers

Ten years, side by side → · All 34 →
GrowthProfitBalanceCleanInsiders
KVUEPeer median

Each side 0 to 100, ranked against every company we cover: relative position on reported figures, not a buy score. How

Every dot is one of the 34 companies, the better end on the right. Hover a dot for the company.

Sales growth
-2.1%28th of 33 · median +2.1%
Net margin
10.9%14th of 33 · median 8.0%
Return on equity
16.6%19th of 29 · median 18.6%
Free cash flow margin
15.1%12th of 33 · median 10.7%
Debt / equity (less is better)
0.8114th of 29 · median 0.82
KVUE and the 5 peers closest in revenue
CompanyRevenue (ttm)Sales growthGross marginNet marginROEFCF marginDebt / equity
KVUE Kenvue$15.5B -2.1%58.3%10.9%16.6%15.1%0.81
CASY Casey's$18.7B +10.2%-4.1%18.9%3.5%0.59
GIS General Mills$18.3B -5.4%33.6%-4.9%-12.0%8.5%1.83
KMB Kimberly-Clark$16.6B -2.1%36.5%19.9%112.6%11.7%2.21
EL Estée Lauder Companies$15.3B +5.0%76.0%2.4%9.1%9.9%1.67
HSY Hershey$12.3B +4.4%41.9%14.6%36.8%17.3%1.05
Where each dollar goes

From $15.1B of sales to $2.1B of profit

FY2022, from the 10-K income statement
Revenue to Gross profit: $8.4BRevenue to Cost of revenue: $6.6BGross profit to Operating profit: $2.9BGross profit to Operating expenses: $5.5BOperating profit to Net profit: $2.1BOperating profit to Tax: $842.0MOperating expenses to R&D: $355.0MOperating expenses to Sales, admin & other: $5.1B Revenue: $15.1B Revenue$15.1B Gross profit: $8.4B · 56% margin Gross profit$8.4B56% margin Cost of revenue: $6.6B · 44% of revenue Cost of revenue$6.6B44% of revenue Operating profit: $2.9B · 19% margin Operating profit$2.9B19% margin Operating expenses: $5.5B · 37% of revenue Operating expenses$5.5B37% of revenue Net profit: $2.1B · 14% margin Net profit$2.1B14% margin Tax: $842.0M · 6% of revenue Tax$842.0M6% of revenue R&D: $355.0M · 2% of revenue R&D$355.0M2% of revenue Sales, admin & other: $5.1B · 34% of revenue Sales, admin & other$5.1B34% of revenue

Swipe sideways for the whole flow →

From $14.9B of sales to $2.1B of profit

FY2023, from the 10-K income statement and revenue by segment
Self Care to Revenue: $6.0BEssential Health to Revenue: $4.6BSkin Health and Beauty to Revenue: $4.3BRevenue to Gross profit: $8.3BRevenue to Cost of revenue: $6.7BGross profit to Operating profit: $2.7BGross profit to Operating expenses: $5.6BOperating profit to Net profit: $2.1BOperating profit to Tax & other: $611.0MOperating expenses to R&D: $375.0MOperating expenses to Sales, admin & other: $5.2B Self Care: $6.0B · 40% Self Care$6.0B40% Essential Health: $4.6B · 31% Essential Health$4.6B31% Skin Health and Beauty: $4.3B · 29% Skin Health and Beauty$4.3B29% Revenue: $14.9B Revenue$14.9B −1% Y/Y Gross profit: $8.3B · 55% margin Gross profit$8.3B55% margin −2% Y/Y Cost of revenue: $6.7B · 45% of revenue Cost of revenue$6.7B45% of revenue Operating profit: $2.7B · 18% margin Operating profit$2.7B18% margin −8% Y/Y Operating expenses: $5.6B · 38% of revenue Operating expenses$5.6B38% of revenue Net profit: $2.1B · 14% margin Net profit$2.1B14% margin −1% Y/Y Tax & other: $611.0M · 4% of revenue Tax & other$611.0M4% of revenue R&D: $375.0M · 3% of revenue R&D$375.0M3% of revenue Sales, admin & other: $5.2B · 35% of revenue Sales, admin & other$5.2B35% of revenue

Swipe sideways for the whole flow →

From $15.4B of sales to $1.7B of profit

FY2023, from the 10-K income statement and revenue by segment
Self Care to Revenue: $6.5BEssential Health to Revenue: $4.6BSkin Health and Beauty to Revenue: $4.4BRevenue to Gross profit: $8.6BRevenue to Cost of revenue: $6.8BGross profit to Operating profit: $2.5BGross profit to Operating expenses: $6.1BOperating profit to Net profit: $1.7BOperating profit to Tax & other: $848.0MOperating expenses to R&D: $399.0MOperating expenses to Sales, admin & other: $5.7B Self Care: $6.5B · 42% Self Care$6.5B42% Essential Health: $4.6B · 30% Essential Health$4.6B30% Skin Health and Beauty: $4.4B · 28% Skin Health and Beauty$4.4B28% Revenue: $15.4B Revenue$15.4B +3% Y/Y Gross profit: $8.6B · 56% margin Gross profit$8.6B56% margin +4% Y/Y Cost of revenue: $6.8B · 44% of revenue Cost of revenue$6.8B44% of revenue Operating profit: $2.5B · 16% margin Operating profit$2.5B16% margin −6% Y/Y Operating expenses: $6.1B · 40% of revenue Operating expenses$6.1B40% of revenue Net profit: $1.7B · 11% margin Net profit$1.7B11% margin −19% Y/Y Tax & other: $848.0M · 5% of revenue Tax & other$848.0M5% of revenue R&D: $399.0M · 3% of revenue R&D$399.0M3% of revenue Sales, admin & other: $5.7B · 37% of revenue Sales, admin & other$5.7B37% of revenue

Swipe sideways for the whole flow →

From $15.5B of sales to $1.0B of profit

FY2024, from the 10-K income statement and revenue by segment
Self Care to Revenue: $6.5BEssential Health to Revenue: $4.7BSkin Health and Beauty to Revenue: $4.2BRevenue to Gross profit: $9.0BRevenue to Cost of revenue: $6.5BGross profit to Operating profit: $1.8BGross profit to Operating expenses: $7.1BOperating profit to Net profit: $1.0BOperating profit to Tax & other: $811.0MOperating expenses to R&D: $408.0MOperating expenses to Sales, admin & other: $6.7B Self Care: $6.5B · 42% Self Care$6.5B42% Essential Health: $4.7B · 30% Essential Health$4.7B30% Skin Health and Beauty: $4.2B · 27% Skin Health and Beauty$4.2B27% Revenue: $15.5B Revenue$15.5B +0% Y/Y Gross profit: $9.0B · 58% margin Gross profit$9.0B58% margin +4% Y/Y Cost of revenue: $6.5B · 42% of revenue Cost of revenue$6.5B42% of revenue Operating profit: $1.8B · 12% margin Operating profit$1.8B12% margin −27% Y/Y Operating expenses: $7.1B · 46% of revenue Operating expenses$7.1B46% of revenue Net profit: $1.0B · 7% margin Net profit$1.0B7% margin −38% Y/Y Tax & other: $811.0M · 5% of revenue Tax & other$811.0M5% of revenue R&D: $408.0M · 3% of revenue R&D$408.0M3% of revenue Sales, admin & other: $6.7B · 43% of revenue Sales, admin & other$6.7B43% of revenue

Swipe sideways for the whole flow →

From $15.1B of sales to $1.5B of profit

FY2025, from the 10-K income statement and revenue by segment
Self Care to Revenue: $6.4BEssential Health to Revenue: $4.6BSkin Health and Beauty to Revenue: $4.1BRevenue to Gross profit: $8.8BRevenue to Cost of revenue: $6.3BGross profit to Operating profit: $2.4BGross profit to Operating expenses: $6.4BOperating profit to Net profit: $1.5BOperating profit to Tax & other: $944.0MOperating expenses to R&D: $382.0MOperating expenses to SG&A: $6.0B Self Care: $6.4B · 42% Self Care$6.4B42% Essential Health: $4.6B · 31% Essential Health$4.6B31% Skin Health and Beauty: $4.1B · 27% Skin Health and Beauty$4.1B27% Revenue: $15.1B Revenue$15.1B −2% Y/Y Gross profit: $8.8B · 58% margin Gross profit$8.8B58% margin −2% Y/Y Cost of revenue: $6.3B · 42% of revenue Cost of revenue$6.3B42% of revenue Operating profit: $2.4B · 16% margin Operating profit$2.4B16% margin +31% Y/Y Operating expenses: $6.4B · 42% of revenue Operating expenses$6.4B42% of revenue Net profit: $1.5B · 10% margin Net profit$1.5B10% margin +43% Y/Y Tax & other: $944.0M · 6% of revenue Tax & other$944.0M6% of revenue R&D: $382.0M · 3% of revenue R&D$382.0M3% of revenue SG&A: $6.0B · 40% of revenue SG&A$6.0B40% of revenue

Swipe sideways for the whole flow →

Where each $100 of sales went

FY2022
FY2023
FY2023
FY2024
FY2025
  • Cost of revenue
  • R&D
  • Sales, admin & other
  • Tax & other
  • Net profit

Band widths are the money. Gross profit is revenue less cost of revenue; operating expenses are gross profit less operating profit; R&D is from the income statement and the rest of the operating expenses is everything else; tax includes interest and other items when they are small. Y/Y is the change from the fiscal year before. Revenue by part only for the years in the last two 10-Ks' segment tables. The full income statement →

Profitability

4 of 4
  • ✓
    Net margin above the peer median10.9% vs 8.0%
  • ✓
    Gross margin up over 4 years55.9% → 58.1%
  • ✓
    Return on equity above 15%16.6%
  • ✓
    A profit in every one of 5 years
Net margin, FY2022 to FY2025: 13.8% → 9.7%

Balance sheet

2 of 4
  • ✓
    Interest covered more than 5 timesOperating income is 5.6× interest expense
  • ✓
    Debt smaller than equityDebt / equity 0.81 on the latest balance sheet (peer median 0.82)
  • !
    Current ratio below 1Current ratio 0.96
  • !
    Net debt over 3 years of free cash flow$7.2B net debt, 3.1 years
Debt / equity at each year end, FY2022 to FY2025: 0.00 → 0.79
What the debt is made of ↓

Cash and shareholders

3 of 4
  • ✓
    Free cash flow positive in every one of 5 years$1.7B last year
  • !
    Share count up over 4 years+12.1%
  • ✓
    Dividend per share up over 2 years$0.40 → $0.82
  • ✓
    Cash from operations above net income$2.2B vs $1.5B
Free cash flow, FY2022 to FY2025: 39.0M → 1.7B

Each tick is a fact with a fixed rule (on /methodology), not a score or advice. A check without the numbers it needs is left out.

Debt

$7.8B of principal due, schedule of Dec 28, 2025

Repayment schedule →

From the balance sheet in the latest 10-K or 10-Q (XBRL). When each part falls due, year by year, and the debt note's own lines are on the Debt tab.

Revenue and net income, FY2022 to FY2025

Revenue 15.1B Net income 1.5B
FY2022 revenue 15.1B · RevenueFromContractWithCustomerExcludingAssessedTax, 0001944048-24-000057 FY2022 net income 2.1B · NetIncomeLoss, 0001944048-24-000057 15.1B FY2022 FY2023 revenue 14.9B · RevenueFromContractWithCustomerExcludingAssessedTax, 0001944048-25-000033 FY2023 net income 2.1B · NetIncomeLoss, 0001944048-25-000033 14.9B FY2023 FY2023 revenue 15.4B · RevenueFromContractWithCustomerExcludingAssessedTax, 0001944048-26-000030 FY2023 net income 1.7B · NetIncomeLoss, 0001944048-26-000030 15.4B FY2023 FY2024 revenue 15.5B · RevenueFromContractWithCustomerExcludingAssessedTax, 0001944048-26-000030 FY2024 net income 1.0B · NetIncomeLoss, 0001944048-26-000030 15.5B FY2024 FY2025 revenue 15.1B · RevenueFromContractWithCustomerExcludingAssessedTax, 0001944048-26-000030 FY2025 net income 1.5B · NetIncomeLoss, 0001944048-26-000030 15.1B FY2025

From XBRL in each 10-K. Hover a bar for the line item and filing. Full financials →

Statements

Income statement, balance sheet and cash flow

XBRL, each 10-K and 10-Q

KVUE's income statement, balance sheet and cash flow as reported to the SEC in XBRL, one column per fiscal year. Hover a number to see the line item and filing it comes from. Where a company changed how it tags a line, the first tag it reported for that period is used. A number looks wrong? Tell us.

Annual Quarterly
Revenue15.1B
FY2022: 15.1BFY2023: 14.9BFY2023: 15.4BFY2024: 15.5BFY2025: 15.1B FY2022FY2023FY2023FY2024FY2025
Net income1.5B
FY2022: 2.1BFY2023: 2.1BFY2023: 1.7BFY2024: 1.0BFY2025: 1.5B FY2022FY2023FY2023FY2024FY2025
Free cash flow1.7B
FY2022: 39.0MFY2023: 2.1BFY2023: 2.7BFY2024: 1.3BFY2025: 1.7B FY2022FY2023FY2023FY2024FY2025
EPS (diluted)0.76
FY2022: 1.21FY2023: 1.20FY2023: 0.90FY2024: 0.54FY2025: 0.76 FY2022FY2023FY2023FY2024FY2025
Dividend per share0.82
FY2022: -FY2023: -FY2023: 0.40FY2024: 0.81FY2025: 0.82 FY2022FY2023FY2023FY2024FY2025
Diluted shares1.9B
FY2022: 1.7BFY2023: 1.7BFY2023: 1.9BFY2024: 1.9BFY2025: 1.9B FY2022FY2023FY2023FY2024FY2025

Revenue by business segment

year to Dec 28, 2025
RevenueSharevs year before
Self Care 6.4B42.2% -2.3%
Essential Health 4.6B30.6% -1.2%
Skin Health and Beauty 4.1B27.2% -3.0%

10-K 0001944048-26-000030, segment and revenue notes (XBRL).

Revenue by region

year to Dec 28, 2025
RevenueSharevs year before
North America 7.3B48.0% -4.2%
UNITED STATES 6.5B42.7% -3.9%
Europe, Middle East, and Africa 3.7B24.6% +4.6%
Asia-Pacific 2.8B18.3% -6.7%
Latin America 1.4B9.1% +1.9%

10-K 0001944048-26-000030, segment and revenue notes (XBRL).

Income statement

From EDGAR
FY2022FY2023FY2023FY2024FY2025
Revenue15.1B14.9B15.4B15.5B15.1B
Cost of revenue6.6B6.7B6.8B6.5B6.3B
Gross profit8.4B8.3B8.6B9.0B8.8B
R&D355.0M375.0M399.0M408.0M382.0M
SG&A5.5B5.6B6.1B6.3B6.1B
Operating income2.9B2.7B2.5B1.8B2.4B
Interest expense00250.0M431.0M430.0M
Pretax income2.9B2.6B2.2B1.4B2.0B
Income tax847.0M573.0M526.0M385.0M529.0M
Net income2.1B2.1B1.7B1.0B1.5B
EPS (diluted)1.211.200.900.540.76
Diluted shares1.7B1.7B1.9B1.9B1.9B
Depreciation & amortization731.0M644.0M627.0M622.0M557.0M
EBITDA3.7B3.3B3.1B2.5B3.0B
Gross margin55.9%55.4%56.0%58.0%58.1%
Operating margin19.4%17.9%16.3%11.9%16.0%
Net margin13.8%13.8%10.8%6.7%9.7%
Revenue growth--0.7%+3.3%+0.1%-2.1%
EPS growth--0.8%-25.0%-40.0%+40.7%

Balance sheet

From EDGAR
FY2022FY2023FY2023FY2024FY2025
Cash740.0M1.2B1.4B1.1B1.1B
Receivables-2.1B2.1B2.2B2.4B
Inventory-2.2B1.9B1.6B1.7B
Current assets-5.9B6.1B5.5B5.7B
Property & equipment-1.8B2.0B1.8B2.2B
Goodwill9.8B9.2B9.3B8.8B9.5B
Total assets-27.3B27.9B25.6B27.1B
Accounts payable-1.8B2.5B2.3B2.5B
Current liabilities-3.9B5.5B5.7B5.9B
Total debt-08.3B8.6B8.5B
Total liabilities-7.3B16.6B15.9B16.3B
Shareholders' equity20.5B20.0B11.2B9.7B10.8B
Retained earnings-0429.0M-93.0M-204.0M

Cash flow

From EDGAR
FY2022FY2023FY2023FY2024FY2025
Operating cash flow334.0M2.5B3.2B1.8B2.2B
Capital spending295.0M375.0M469.0M434.0M475.0M
Free cash flow39.0M2.1B2.7B1.3B1.7B
Stock-based pay (added back)141.0M137.0M188.0M254.0M136.0M
Dividends paid00766.0M1.6B1.6B
Buybacks-07.0M235.0M197.0M
Debt repaid--00750.0M
Investing cash flow-171.0M-390.0M-488.0M-425.0M-436.0M
Financing cash flow0-1.6B-2.5B-1.6B-1.8B
Dividend per share--0.400.810.82

Stock-based pay and leases

From EDGAR
FY2022FY2023FY2023FY2024FY2025
Stock-based pay (expense)141.0M137.0M188.0M254.0M136.0M
Stock-based pay / revenue0.9%0.9%1.2%1.6%0.9%
Operating lease cost54.0M42.0M48.0M48.0M50.0M
Operating lease cash paid55.0M43.0M49.0M50.0M59.0M
Right-of-use assets-110.0M139.0M111.0M151.0M
Operating lease liabilities-116.0M141.0M112.0M150.0M
Finance lease liabilities--93.0M121.0M135.0M

From SEC's XBRL company facts (data.sec.gov). EBITDA = operating income + depreciation and amortization; free cash flow = operating cash flow - capital spending; total debt = long-term debt (with its current part) + short-term borrowings. Stock-based pay and leases are shown as the company reports them; Tickdelta does not take them out of earnings or add leases to debt. Click a number to open the filing in SEC's Inline XBRL viewer, where you can click the same number to see how it is tagged. Values a company later revised show as revised; the Revised numbers tab lists the changes.

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