Kenvue

Consumer Staples Personal Care Products Skillman, New Jersey Last filing Feb 20, 2026 · FY2025

                    Revenue
                    FY2025
                
$15.1B
                    3y CAGR +0.4%
                    
                    P37
                    
                    -2.1%
                    
                    Net income
                    FY2025
                
$1.5B
                    Net margin +9.7%
                    
                    P63
                    
                    +42.7%
                    
                    Total assets
                    FY2025
                
$27.1B
                    ROA +5.4%
                    
                    P49
                    
                    +5.8%
                    
                    Operating cash flow
                    FY2025
                
$2.2B
                    FCF margin +11.4%
                    
                    P65
                    
                    +24.2%

5 yrs · FY2021–FY2025 9 filed · 0 derived · 0 blank

1Y 3Y 5Y

Dollars % of revenue % of assets YoY % CAGR

Balance Sheet

Assets, liabilities, and equity

31 accounts · 3 years

Total assets $27.1B

Total liabilities $16.3B

Shareholders equity $10.8B

Account	2025	2024	2023
Assets
Cash and Cash Equivalents	$1.1B -0.7%	$1.1B -22.6%	$1.4B
Accounts Receivable	$2.4B	—	$2.1B
Inventory	$1.7B	—	$1.9B
Prepaid Expenses	$432.0M	—	$567.0M
Other Current Assets	$155.0M	—	$265.0M
Total Current Assets	$5.7B 3.1%	$5.5B -10.0%	$6.1B
Property,Plant and Equipment	$2.2B	—	$2.0B
Goodwill	$9.5B 7.5%	$8.8B -4.6%	$9.3B
Intangible Assets	$8.7B	—	$9.6B
Deferred Tax Assets	$237.0M	—	$158.0M
Other Noncurrent Assets	$727.0M	—	$623.0M
Total Assets	$27.1B 5.8%	$25.6B -8.1%	$27.9B
Liabilities
Accounts Payable	$2.5B 9.7%	$2.3B -9.4%	$2.5B
Accrued Liabilities	$1.2B 2.4%	$1.1B -22.3%	$1.5B
Current Portion of Long Term Debt	$750.0M 0.0%	$750.0M	$0
Operating Lease Liabilities	$43.0M	—	$44.0M
Other Current Liabilities	$601.0M	—	$491.0M
Total Current Liabilities	$5.9B 3.6%	$5.7B 4.7%	$5.5B
Long Term Debt	$8.5B	—	$8.3B
Operating Lease Liabilities Noncurrent	$107.0M	—	$97.0M
Deferred Tax Liabilities	$2.4B	—	$2.6B
Other Noncurrent Liabilities	$601.0M	—	$491.0M
Total Liabilities	$16.3B 2.4%	$15.9B -4.2%	$16.6B
Equity
Preferred Stock	$0	$0	$0
Common Stock	$19.0M 0.0%	$19.0M 0.0%	$19.0M
Additional Paid In Capital	$16.3B 1.4%	$16.1B -0.1%	$16.1B
Retained Earnings	$-204.0M	—	$429.0M
Treasury Stock	$197.0M -16.2%	$235.0M 3257.1%	$7.0M
Accumulated Other Comprehensive Income	$-5.0B	—	$-5.4B
Total Stockholders Equity	$10.8B	—	$11.2B
Total Liabilitiesand Equity	$27.1B	—	$27.9B

Income Statement

Revenue, expense, and profitability

19 accounts · 3 years

Revenue $15.1B

Operating income $2.4B

Net income $1.5B

Account	2025	2024	2023
IncomeStatement
Revenues Total Revenue	$15.1B	—	$15.4B
Expenses Cost of Revenue	$6.3B	—	$6.8B
Expenses Research and Development	$382.0M	—	$399.0M
Expenses Selling,General and Administrative	$6.1B	—	$6.1B
Expenses Depreciation and Amortization	$557.0M	—	$627.0M
Expenses Share Based Compensation	$136.0M	—	$188.0M
Expenses Restructuring and Asset Impairment	$290.0M	—	$0
Other Income Expense Gross Profit	$8.8B	—	$8.6B
Other Income Expense Operating Income	$2.4B	—	$2.5B
Other Income Expense Interest Expense	$430.0M	—	$250.0M
Other Income Expense Other Income/expense	$10.0M	—	$-7.0M
Other Income Expense Income Before Tax	$2.0B	—	$2.2B
Income Tax Income Tax Expense	$529.0M	—	$526.0M
net Income net Income	$1.5B	—	$1.7B
net Income Comprehensive Income	$2.7B	—	$1.8B
Earnings Per Share Basic Eps	$1	—	$1
Earnings Per Share Diluted Eps	$1	—	$1
Earnings Per Share Weighted Average Shares Basic	$1.9B	—	$1.8B
Earnings Per Share Weighted Average Shares Diluted	$1.9B	—	$1.9B

Cash Flow Statement

Operating, investing, and financing flows

21 accounts · 3 years

Operating cash flow $2.2B

Investing cash flow $-436.0M

Financing cash flow $-1.8B

Account	2025	2024	2023
CashFlow
Operating Activities net Income	$1.5B 42.7%	$1.0B -38.1%	$1.7B
Operating Activities Depreciation and Amortization	$557.0M -10.5%	$622.0M -0.8%	$627.0M
Operating Activities Stock Based Compensation	$136.0M	—	$188.0M
Operating Activities Deferred Income Taxes	$-108.0M	—	$-114.0M
Operating Activities Changes In Operating Assets and Liabilities	$124.0M 123.1%	$-536.0M -150.5%	$1.1B
Operating Activities Other Non Cash Items	$-3.0M	—	$-212.0M
Operating Activities net Cash From Operating Activities	$2.2B 24.2%	$1.8B -44.2%	$3.2B
Investing Activities Capital Expenditures	$475.0M 9.4%	$434.0M -7.5%	$469.0M
Investing Activities Other Investing Activities	$-15.0M	—	$40.0M
Investing Activities net Cash From Investing Activities	$-436.0M -2.6%	$-425.0M 12.9%	$-488.0M
Financing Activities Proceeds From Debt	$746.0M	—	$7.7B
Financing Activities Repayment of Debt	$750.0M	—	$0
Financing Activities Repurchase of Common Stock	$197.0M -16.2%	$235.0M 3257.1%	$7.0M
Financing Activities Dividends Paid	$1.6B 1.9%	$1.6B 102.6%	$766.0M
Financing Activities Proceeds From Stock Issuance	$122.0M	—	$7.0M
Financing Activities Other Financing Activities	$91.0M	—	$-193.0M
Financing Activities net Cash From Financing Activities	$-1.8B -17.4%	$-1.6B 38.1%	$-2.5B
Cash Reconciliation Effect of Exchange Rate On Cash	$68.0M 174.7%	$-91.0M -4450.0%	$-2.0M
Cash Reconciliation net Change In Cash	$-8.0M 97.4%	$-312.0M -306.6%	$151.0M
Cash Reconciliation Cash At Beginning of Period	$1.1B	—	$1.4B
Cash Reconciliation Cash At End of Period	$1.1B	—	$1.4B

Key Ratios

Margins, returns, liquidity, leverage, efficiency

Computed at import · 3 years

Ratio	2025	2024	2023
Profitability
Gross margin	+58.1%	+58.0%	+56.0%
Operating margin	+16.0%	+11.9%	+16.3%
Net margin	+9.7%	+6.7%	+10.8%
FCF margin	+11.4%	+8.6%	+17.5%
Growth
Revenue CAGR (3y)	+0.4%	+0.9%	—
Returns
ROE	+13.7%	+10.7%	+14.8%
ROA	+5.4%	+4.0%	+6.0%
ROIC	+9.4%	+5.6%	+10.5%
Liquidity
Current ratio	0.96x	0.96x	1.12x
Quick ratio	0.58x	—	0.63x
Leverage
D/E	1.52x	1.65x	1.48x
Interest coverage	5.61x	—	10.05x
Efficiency
Asset turnover	0.56x	0.60x	0.55x
Cash conversion cycle	+11d	—	+15d

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Kenvue

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