Overview
Kenvue Inc.
Latest 10-K: FY2025, filed Feb 20, 2026 · Open the 10-K (Inline XBRL) ↗
- Revenue
- $15.12B
- 2.1%YoYdown from FY2024
- TotalRevenue
- Gross profit
- $8.79B
- 1.9%YoYdown from FY2024
- GrossProfit
- Operating income
- $2.41B
- 31.1%YoYup from FY2024
- OperatingIncome
- Net income
- $1.47B
- 42.7%YoYup from FY2024
- NetIncome
- Diluted EPS
- $0.76
- 40.7%YoYup from FY2024
- EPSDiluted
- Diluted shares
- 1.92B
- 0.1%YoYup from FY2024
- WeightedAvgSharesDiluted
At a glance
Growth
- Kenvue Inc. reported revenue of $15.12B for fiscal 2025, down 2.1% from fiscal 2024.
- Revenue grew faster than the median S&P 500 member in 0 of the last 4 fiscal years.
Profitability
- Operating margin was 16.0% and net margin was 9.7%, against a median net margin of 12.8% across S&P 500 members for the same fiscal year.
Per share
- Diluted EPS was $0.76, up 40.7% from the prior year.
Written from the filed figures on this page by fixed rules — no AI.
Data as of Oct 31, 2026 · Sources: SEC EDGAR 10-K
Financial statements
Annual figures from the 10-K, most recent fiscal year first.
Income Statement
5 annual periodsChip: YoY change.
| Line item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | 4Y CAGR |
|---|---|---|---|---|---|---|
| Revenue | $15.12B2.1%down Benchmark median 6.4% | $15.46B0.1%up Benchmark median 4.5% | $15.44B3.3%up Benchmark median 4.8% | $14.95B0.7%down Benchmark median 10.3% | $15.05B Benchmark median 13.8% | 0.1% Benchmark median 6.6% |
| Gross Profit Median of 315 / 498 | $8.79B1.9%down Benchmark median 6.8% | $8.96B3.7%up Benchmark median 5.5% | $8.64B4.3%up Benchmark median 5.2% | $8.29B1.6%down Benchmark median 8.3% | $8.42B Benchmark median 15.7% | 1.1% Benchmark median 6.2% |
| Operating Income Median of 373 / 498 | $2.41B31.1%up Benchmark median 7.3% | $1.84B26.7%down Benchmark median 7.4% | $2.51B6.1%down Benchmark median 4.9% | $2.67B8.4%down Benchmark median 7.5% | $2.92B Benchmark median 23.5% | -4.6% Benchmark median 7.2% |
| Net Income | $1.47B42.7%up Benchmark median 4.8% | $1.03B38.1%down Benchmark median 5.7% | $1.66B19.4%down Benchmark median 1.9% | $2.06B0.7%down Benchmark median 1.3% | $2.08B Benchmark median 33.9% | -8.3% Benchmark median 4.1% |
| EPS (Diluted) | $0.7640.7%up Benchmark median 6.2% | $0.5440.0%down Benchmark median 7.9% | $0.9025.0%down Benchmark median 1.9% | $1.200.8%down Benchmark median 1.5% | $1.21 Benchmark median 34.8% | -11.0% Benchmark median 5.6% |
Balance Sheet
5 annual periodsChip: YoY change.
| Line item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | 4Y CAGR |
|---|---|---|---|---|---|---|
| Total Assets | $27.08B5.8%up Benchmark median 5.6% | $25.60B8.1%down Benchmark median 3.4% | $27.85B2.0%up Benchmark median 4.1% | $27.32B Benchmark median 2.2% | — | — Benchmark median 4.7% |
| Total Liabilities Median of 357 / 498 | $16.31B2.4%up Benchmark median 6.4% | $15.93B4.2%down Benchmark median 1.9% | $16.64B126.5%up Benchmark median 2.9% | $7.35B Benchmark median 2.0% | — | — Benchmark median 4.4% |
| Stockholders' Equity | $10.77B11.3%up Benchmark median 6.8% | $9.67B13.8%down Benchmark median 5.4% | $11.21B43.9%down Benchmark median 7.3% | $19.97B2.5%down Benchmark median 2.5% | $20.49B Benchmark median 9.0% | -14.9% Benchmark median 6.1% |
| Cash & Equivalents | $1.06B0.7%down Benchmark median 5.2% | $1.07B22.6%down Benchmark median 1.9% | $1.38B12.3%up Benchmark median 6.7% | $1.23B Benchmark median -8.6% | — | — Benchmark median 2.0% |
| Total Debt | $7.82B0.2%up Benchmark median 2.1% | $7.80B1.5%up Benchmark median 0.2% | $7.69Bn/m Benchmark median 0.3% | $0.00B Benchmark median 0.1% | — | — Benchmark median 4.3% |
Cash Flow Statement
5 annual periodsChip: YoY change.
| Line item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | 4Y CAGR |
|---|---|---|---|---|---|---|
| Operating Cash Flow | $2.20B24.2%up Benchmark median 6.3% | $1.77B44.2%down Benchmark median 4.8% | $3.17B25.5%up Benchmark median 9.9% | $2.52B656.0%up Benchmark median -0.7% | $0.33B Benchmark median 10.7% | 60.1% Benchmark median 7.0% |
| Capital Expenditures | $475.00M9.4%up Benchmark median 5.4% | $434.00M7.5%down Benchmark median 2.8% | $469.00M25.1%up Benchmark median 11.3% | $375.00M27.1%up Benchmark median 14.0% | $295.00M Benchmark median 8.1% | 12.6% Benchmark median 9.0% |
| Free Cash Flow Median of 378 / 498 | $1.72B29.0%up Benchmark median 7.3% | $1.33B50.5%down Benchmark median 6.1% | $2.70B25.5%up Benchmark median 8.8% | $2.15B5412.8%up Benchmark median -11.3% | $0.04B Benchmark median 10.2% | 157.8% Benchmark median 4.9% |
n/m: not meaningful — the base (the prior year, or the first year for the CAGR) was zero or negative, or a per-share figure’s share basis changed (stock split). “—” means the figure is not available.
Benchmark median = median of the companies in the benchmark universe on Dec 31 of each fiscal year, from their own 10-K filings; a change counts only companies whose prior year was positive. Each median uses every member that reports the line item; where fewer than 80% do (banks and insurers file no gross profit), the row names how many. Published where at least 250 companies report it. Updated 2026-10-27. This compares reported figures, not share-price returns. Methodology
Ratios & valuation
FY2025Every ratio read two ways: Wall Street’s popular formula and the value investor’s stricter one. Same question, same unit. Pick a ratio.
Valuation · Earnings yield
What a dollar of market value earned
4.4%
Wall Street
on net earnings
FY2024 2.5%
5.2%
Value investor
on free cash flow
FY2024 3.2%
Gap +0.8 pts: Value-investor figure 0.8 points higher
How it’s calculated
Wall Street · on net earnings
Diluted EPS ÷ fiscal-year-end share price (1 ÷ P/E)
pe_ratio (ratio table)
P/E 22.6×Value investor · on free cash flow
(Operating cash flow − capital expenditures) ÷ market capitalisation (fiscal-year-end close × weighted-average diluted shares)
free cash flow ÷ market cap
Valuation · Enterprise yield
What a dollar of enterprise value earned
7.5%
Wall Street
on EBITDA
FY2024 5.1%
6.1%
Value investor
on EBIT
FY2024 3.8%
Gap −1.4 pts: Value-investor figure 1.4 points lower
How it’s calculated
Wall Street · on EBITDA
EBITDA ÷ enterprise value (1 ÷ EV/EBITDA)
ev_ebitda (ratio table)
EV/EBITDA 13.4×Value investor · on EBIT
Operating income (EBIT) ÷ enterprise value: depreciation counts as a real cost
operating income ÷ (ev_ebitda × ebitda)
Valuation · Book yield
Net assets behind a dollar of market value
32.6%
Wall Street
on book equity
FY2024 23.4%
n/m
Value investor
on tangible book
FY2024 n/m
How it’s calculated
Wall Street · on book equity
Book value of equity ÷ market capitalisation (1 ÷ P/B)
pb_ratio (ratio table)
P/B 3.1×Value investor · on tangible book
Tangible book value (equity less goodwill and intangibles) ÷ market capitalisation
tangible_book_value_per_share ÷ (pb_ratio × book_value_per_share)
Quality · Return on capital
Profit earned on the money in the business
14.4%
Wall Street
ROE: net income ÷ equity
FY2024 9.9%
8.3%
Value investor
ROIC: after-tax operating profit ÷ invested capital
FY2024 6.6%
Gap −6.1 pts: Value-investor figure 6.1 points lower
How it’s calculated
Wall Street · ROE: net income ÷ equity
Net income ÷ average stockholders' equity (start and end of year), including noncontrolling interests. Buybacks shrink equity and lift it.
return_on_equity (ratio table)
Value investor · ROIC: after-tax operating profit ÷ invested capital
Operating profit after tax ÷ invested capital (total assets − cash − non-interest-bearing current liabilities), so leverage cannot flatter it
roic (ratio table)
Quality · Cash margin
Cash profit kept from each dollar of sales
19.6%
Wall Street
EBITDA margin
FY2024 15.9%
11.4%
Value investor
Free-cash-flow margin
FY2024 8.6%
Gap −8.2 pts: Value-investor figure 8.2 points lower
How it’s calculated
Wall Street · EBITDA margin
EBITDA ÷ revenue
ebitda ÷ revenue
Value investor · Free-cash-flow margin
(Operating cash flow − capital expenditures) ÷ revenue: taxes, interest, working capital and capex all paid
free cash flow ÷ revenue
Balance sheet · Liquidity
Short-term assets per dollar of bills due within a year
0.96×
Wall Street
Current ratio
FY2024 0.96×
0.68×
Value investor
Quick ratio, inventory excluded
FY2024 0.69×
Gap −0.28×: Value-investor figure 0.28 lower
How it’s calculated
Wall Street · Current ratio
Current assets ÷ current liabilities
current_ratio (ratio table)
Value investor · Quick ratio, inventory excluded
(Current assets − inventory) ÷ current liabilities
quick_ratio (ratio table)
Balance sheet · Debt cover
How many times one year of earnings repays all debt
0.38×
Wall Street
EBITDA ÷ total debt
FY2024 0.32×
0.22×
Value investor
FCF ÷ total debt
FY2024 0.17×
Gap −0.16×: Value-investor figure 0.16 lower
How it’s calculated
Wall Street · EBITDA ÷ total debt
EBITDA ÷ total debt (short-term + long-term)
ebitda ÷ total debt
Net debt/EBITDA 2.51×Value investor · FCF ÷ total debt
Free cash flow ÷ total debt: what is actually left to repay it
free cash flow ÷ total debt
Balance sheet · Interest cover
How many times earnings pay the year's interest
6.9×
Wall Street
EBITDA ÷ interest
FY2024 5.7×
5.6×
Value investor
EBIT ÷ interest
FY2024 4.3×
Gap −1.3×: Value-investor figure 1.3 lower
How it’s calculated
Wall Street · EBITDA ÷ interest
EBITDA ÷ interest expense
ebitda_interest_coverage (ratio table)
Value investor · EBIT ÷ interest
Operating income ÷ interest expense
interest_coverage (ratio table)
Each ratio measures one thing two ways, in the same unit: the popular formula, then a stricter one, so a lower figure is the stricter reading. Gap = value-investor figure minus Wall Street figure, from the figures shown.
Price-based ratios use the fiscal-year-end closing price. Free cash flow = operating cash flow − capital expenditures (we compute it; filings rarely report it). n/m = not meaningful (denominator ≤ 0); “—” = not reported. Each ratio’s formulas are under “How it’s calculated”.
Smart money
Showing the most recent 5 annual periods. Get longer history on the Pro plan, or the full history (1993–present) plus the smart-money dataset and webhooks on Institutional.
Peers, filings & research
Research Reports
No published research on KVUE yet.
Reports appear here as analysts publish research on this company — built with Valuein's agentic workflows on data pinned to its SEC filing. Be the first: run equity_research_brief on KVUE and publish the result to your public profile.
Cite this page
Data as of Oct 31, 2026. Canonical address: https://valuein.biz/data/KVUE
Valuein. (2026, October 31). Kenvue Inc. (KVUE) financial statements, earnings power and smart-money summary [Data set]. Source: SEC EDGAR filings. https://valuein.biz/data/KVUE
@misc{valuein_kvue_2026,
author = {{Valuein}},
title = {Kenvue Inc. (KVUE) financial statements, earnings power and smart-money summary},
year = {2026},
howpublished = {\url{https://valuein.biz/data/KVUE}},
note = {Data as of 2026-10-31; source: SEC EDGAR filings}
}10-K filed Feb 20, 2026 · accession 0001944048-26-000030
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point-in-time · survivorship-free · every number traceable to its SEC filing
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