Kenvue Inc. (KVUE) 10-Year Financial Performance & Capital Metrics

KVUE • • Industrial / General

Consumer DefensiveHousehold ProductsHealth & Wellness ProductsNutritional Supplements

AboutKenvue Inc. operates as a consumer health company worldwide. The company operates through three segments: Self Care, Skin Health and Beauty, and Essential Health. The Self Care segment offers cough, cold and allergy, pain care, digestive health, smoking cessation, and other products under the Tylenol, Nicorette, and Zyrtec brands. The Skin Health and Beauty segment provides face and body care, hair care, and sun and other care products under the Neutrogena, Aveeno, and OGX brand names. The Essential Health segment offers oral and baby, women's health, and wound care products under the Listerine, Johnson's, Band-Aid, and Stayfree brands. The company was incorporated in 2022 and is headquartered in Skillman, New Jersey. Kenvue Inc. operates as a subsidiary of Johnson & Johnson.Show more

Revenue $15.46B
EBITDA $2.46B -21.5%
Net Income $1.03B -38.1%
EPS (Diluted) 0.54 -37.9%
Gross Margin 57.97% +3.6%
EBITDA Margin 15.94% -21.6%
Operating Margin 11.91% -26.8%
Net Margin 6.66% -38.1%
ROE 9.87% -7.6%
ROIC 7.76% -5.1%
Debt/Equity 0.90 +20.0%
Interest Coverage 4.27 -39.1%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓High quality earnings: Operating CF exceeds net income
✓Healthy dividend yield of 4.7%

✗Weaknesses

✗Dividend payout exceeds 100% of earnings
✗Trading more than 30% below 52-week high

Price & Volume

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Growth Metrics

Revenue CAGR

10Y-

5Y-

3Y0.88%

TTM-2.93%

Profit (Net Income) CAGR

10Y-

5Y-

3Y-20.86%

TTM34.68%

EPS CAGR

10Y-

5Y-

3Y-21.11%

TTM36.31%

ROCE

10Y Avg7.86%

5Y Avg7.86%

3Y Avg10.34%

Latest8.72%

Peer Comparison

Nutritional Supplements

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
SGISomnigroup International Inc	19.52B	92.99	43.05	0.11%	4.62%	10.53%	2.92%	7.86
KVUEKenvue Inc.	33.07B	17.26	31.96	0.07%	9.55%	13.48%	4.04%	0.90
MTEXMannatech, Incorporated	17.36M	9.13	6.92	-10.68%	-1.5%	-23.83%	11.32%	0.78
NUSNu Skin Enterprises, Inc.	552.83M	11.34	-3.84	-12.04%	7.02%	13.7%	12.69%	0.73

Profit & Loss

	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Sales/Revenue+	14.47B	15.05B	14.95B	15.44B	15.46B
Revenue Growth %	-	0.04%	-0.01%	0.03%	0%
Cost of Goods Sold+	6.62B	6.63B	6.67B	6.8B	6.5B
COGS % of Revenue	0.46%	0.44%	0.45%	0.44%	0.42%
Gross Profit+	7.85B	8.42B	8.29B	8.64B	8.96B
Gross Margin %	0.54%	0.56%	0.55%	0.56%	0.58%
Gross Profit Growth %	-	0.07%	-0.02%	0.04%	0.04%
Operating Expenses+	8.83B	5.5B	5.61B	6.13B	7.12B
OpEx % of Revenue	0.61%	0.37%	0.38%	0.4%	0.46%
Selling, General & Admin	4.96B	5.48B	5.63B	6.14B	6.03B
SG&A % of Revenue	0.34%	0.36%	0.38%	0.4%	0.39%
Research & Development	0	0	0	0	0
R&D % of Revenue	-	-	-	-	-
Other Operating Expenses	3.87B	15M	-23M	-10M	1.09B
Operating Income+	-979M	2.92B	2.67B	2.51B	1.84B
Operating Margin %	-0.07%	0.19%	0.18%	0.16%	0.12%
Operating Income Growth %	-	3.98%	-0.08%	-0.06%	-0.27%
EBITDA+	-233M	3.65B	3.32B	3.14B	2.46B
EBITDA Margin %	-0.02%	0.24%	0.22%	0.2%	0.16%
EBITDA Growth %	-	16.67%	-0.09%	-0.05%	-0.22%
D&A (Non-Cash Add-back)	746M	731M	644M	627M	622M
EBIT	2.99B	2.92B	2.64B	2.55B	1.85B
Net Interest Income+	0	0	0	-250M	-378M
Interest Income	0	0	0	108M	53M
Interest Expense	0	0	0	358M	431M
Other Income/Expense	-37M	5M	-38M	-322M	-426M
Pretax Income+	-1.02B	2.92B	2.64B	2.19B	1.42B
Pretax Margin %	-0.07%	0.19%	0.18%	0.14%	0.09%
Income Tax+	-137M	847M	573M	526M	385M
Effective Tax Rate %	0.87%	0.71%	0.78%	0.76%	0.73%
Net Income+	-879M	2.08B	2.06B	1.66B	1.03B
Net Margin %	-0.06%	0.14%	0.14%	0.11%	0.07%
Net Income Growth %	-	3.36%	-0.01%	-0.19%	-0.38%
Net Income (Continuing)	-879M	2.08B	2.06B	1.66B	1.03B
Discontinued Operations	0	0	0	0	0
Minority Interest	0	0	0	0	0
EPS (Diluted)+	-0.47	1.10	1.08	0.87	0.54
EPS Growth %	-	3.34%	-0.02%	-0.19%	-0.38%
EPS (Basic)	-0.47	1.10	1.08	0.90	0.54
Diluted Shares Outstanding	1.89B	1.89B	1.91B	1.92B	1.92B
Basic Shares Outstanding	1.89B	1.89B	1.91B	1.85B	1.92B
Dividend Payout Ratio	-	-	-	8.75%	1.51%

Balance Sheet

	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Current Assets+	4.59B	4.93B	5.88B	6.14B	5.53B
Cash & Short-Term Investments	618M	740M	1.23B	1.38B	1.07B
Cash Only	618M	740M	1.23B	1.38B	1.07B
Short-Term Investments	0	0	0	0	0
Accounts Receivable	2.13B	2.33B	2.3B	2.64B	2.66B
Days Sales Outstanding	53.74	56.52	56.08	62.39	62.8
Inventory	1.69B	1.7B	2.23B	1.85B	1.59B
Days Inventory Outstanding	92.92	93.63	121.9	99.34	89.4
Other Current Assets	162M	154M	123M	265M	205M
Total Non-Current Assets+	24.58B	23B	21.44B	21.71B	20.08B
Property, Plant & Equipment	1.96B	1.83B	1.82B	2.04B	1.85B
Fixed Asset Turnover	7.39x	8.24x	8.21x	7.56x	8.36x
Goodwill	10.33B	9.81B	9.19B	9.27B	8.84B
Intangible Assets	11.61B	10.7B	9.85B	9.62B	8.47B
Long-Term Investments	0	0	0	0	0
Other Non-Current Assets	496M	475M	434M	623M	726M
Total Assets+	29.18B	27.93B	27.32B	27.85B	25.6B
Asset Turnover	0.50x	0.54x	0.55x	0.55x	0.60x
Asset Growth %	-	-0.04%	-0.02%	0.02%	-0.08%
Total Current Liabilities+	7.49B	4.04B	3.93B	5.48B	5.74B
Accounts Payable	1.58B	1.83B	1.83B	2.49B	2.25B
Days Payables Outstanding	87.07	100.51	100.16	133.58	126.65
Short-Term Debt	0	0	0	599M	1.55B
Deferred Revenue (Current)	0	0	0	0	0
Other Current Liabilities	252M	266M	272M	406M	325M
Current Ratio	0.61x	1.22x	1.50x	1.12x	0.96x
Quick Ratio	0.39x	0.80x	0.93x	0.78x	0.69x
Cash Conversion Cycle	59.58	49.64	77.82	28.15	25.54
Total Non-Current Liabilities+	3.33B	3.49B	3.42B	11.16B	10.19B
Long-Term Debt	0	0	8.93B	7.69B	6.94B
Capital Lease Obligations	0	82M	81M	97M	189M
Deferred Tax Liabilities	1.76B	2.43B	2.48B	2.62B	2.26B
Other Non-Current Liabilities	1.57B	976M	-8.07B	754M	802M
Total Liabilities	10.82B	7.53B	7.35B	16.64B	15.93B
Total Debt+	0	129M	9.05B	8.43B	8.72B
Net Debt	-618M	-611M	7.82B	7.04B	7.65B
Debt / Equity	-	0.01x	0.45x	0.75x	0.90x
Debt / EBITDA	-	0.04x	2.73x	2.68x	3.54x
Net Debt / EBITDA	-	-0.17x	2.35x	2.24x	3.11x
Interest Coverage	-	-	-	7.02x	4.27x
Total Equity+	18.36B	20.4B	19.97B	11.21B	9.67B
Equity Growth %	-	0.11%	-0.02%	-0.44%	-0.14%
Book Value per Share	9.72	10.80	10.43	5.85	5.03
Total Shareholders' Equity	18.36B	20.4B	19.97B	11.21B	9.67B
Common Stock	0	0	0	19M	19M
Retained Earnings	0	0	0	429M	-93M
Treasury Stock	0	0	0	-7M	-242M
Accumulated OCI	-3.57B	-4.47B	-5.46B	-5.38B	-6.15B
Minority Interest	0	0	0	0	0

Cash Flow

	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	3.4B	334M	2.52B	3.17B	1.77B
Operating CF Margin %	0.23%	0.02%	0.17%	0.21%	0.11%
Operating CF Growth %	-	-0.9%	6.56%	0.25%	-0.44%
Net Income	-879M	2.03B	2.09B	1.66B	1.03B
Depreciation & Amortization	746M	731M	644M	627M	622M
Stock-Based Compensation	115M	141M	137M	188M	254M
Deferred Taxes	-801M	568M	157M	-114M	-285M
Other Non-Cash Items	-26M	-5M	13M	6M	719M
Working Capital Changes	4.24B	-3.13B	-513M	797M	-571M
Change in Receivables	265M	-303M	-142M	44M	-218M
Change in Inventory	109M	-77M	-582M	349M	182M
Change in Payables	154M	330M	52M	390M	-536M
Cash from Investing+	-83M	-171M	-390M	-488M	-425M
Capital Expenditures	-229M	-295M	-375M	-469M	-434M
CapEx % of Revenue	0.02%	0.02%	0.03%	0.03%	0.03%
Acquisitions	-	-	-	-	-
Investments	-	-	-	-	-
Other Investing	146M	-77M	-8M	-40M	9M
Cash from Financing+	-3.46B	0	-1.58B	-2.53B	-1.56B
Debt Issued (Net)	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-
Dividends Paid	0	0	0	-14.55B	-1.55B
Share Repurchases	-	-	-	-	-
Other Financing	-3.45B	7M	-1.6B	-460M	63M
Net Change in Cash	-	-	-	-	-
Free Cash Flow+	3.17B	39M	2.15B	2.7B	1.33B
FCF Margin %	0.22%	0%	0.14%	0.17%	0.09%
FCF Growth %	-	-0.99%	54.13%	0.26%	-0.51%
FCF per Share	1.68	0.02	1.12	1.41	0.69
FCF Conversion (FCF/Net Income)	-3.86x	0.16x	1.22x	1.90x	1.72x
Interest Paid	0	0	0	224M	439M
Taxes Paid	448M	363M	316M	699M	810M

Key Ratios

Metric	2020	2021	2022	2023	2024
Return on Equity (ROE)	-4.79%	10.72%	10.23%	10.67%	9.87%
Return on Invested Capital (ROIC)	-4.14%	11.67%	8.43%	8.18%	7.76%
Gross Margin	54.25%	55.93%	55.42%	55.96%	57.97%
Net Margin	-6.08%	13.8%	13.81%	10.77%	6.66%
Debt / Equity	-	0.01x	0.45x	0.75x	0.90x
Interest Coverage	-	-	-	7.02x	4.27x
FCF Conversion	-3.86x	0.16x	1.22x	1.90x	1.72x
Revenue Growth	-	4.06%	-0.69%	3.3%	0.07%

Revenue by Segment

	2023	2024
Self Care	6.45B	6.53B
Self Care Growth	-	1.18%
Essential Health	4.62B	4.69B
Essential Health Growth	-	1.58%
Skin Health and Beauty	4.38B	4.24B
Skin Health and Beauty Growth	-	-3.15%

Revenue by Geography

	2023	2024
North America	7.61B	7.58B
North America Growth	-	-0.41%
EMEA	3.39B	3.56B
EMEA Growth	-	5.05%
Asia Pacific	3.11B	2.97B
Asia Pacific Growth	-	-4.28%
Latin America	1.34B	1.34B
Latin America Growth	-	0.30%

Frequently Asked Questions

Valuation & Price

Kenvue Inc. (KVUE) has a price-to-earnings (P/E) ratio of 32.0x. This suggests investors expect higher future growth.

Growth & Financials

Kenvue Inc. (KVUE) reported $15.01B in revenue for fiscal year 2024. This represents a 4% increase from $14.47B in 2020.

Kenvue Inc. (KVUE) grew revenue by 0.1% over the past year. Growth has been modest.

Yes, Kenvue Inc. (KVUE) is profitable, generating $1.43B in net income for fiscal year 2024 (6.7% net margin).

Dividend & Returns

Yes, Kenvue Inc. (KVUE) pays a dividend with a yield of 4.68%. This makes it attractive for income-focused investors.

Kenvue Inc. (KVUE) has a return on equity (ROE) of 9.9%. This is below average, suggesting room for improvement.

Kenvue Inc. (KVUE) generated $1.64B in free cash flow for fiscal year 2024. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.

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