7Baggers

Kenvue Inc
(NYSE:KVUE) 

KVUE stock logo

Kenvue 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 primarily under ...

Founded: 2022
IPO Price: $22 (May 04, 2023)
Full Time Employees: 22,200
CEO: Thibaut Mongon  
Sector: Consumer Defensive
Industry: Household & Personal Products
Consumer Defensive
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• Market Cap:
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At a glance:
Bull Thesis:
Bear Thesis:
Main Competitors:
Moat:
Income Statements:
Quarterly
Annual
    Unit: USD2026-03-29 2025-12-28 2025-09-28 2025-06-29 2025-03-30 2024-12-29 2024-09-29 2024-06-30 2024-03-31 2023-12-31 2023-10-01 2023-07-02 2023-04-02 
                 
      net sales
    		3,909,000,000 3,780,000,000 3,764,000,000 3,839,000,000 3,741,000,000 3,662,000,000 3,899,000,000 4,000,000,000 3,894,000,000 3,666,000,000 3,915,000,000 4,011,000,000 3,852,000,000 
      yoy
    		4.49% 3.22% -3.46% -4.03% -3.93% -0.11% -0.41% -0.27% 1.09%     
      qoq
    		3.41% 0.43% -1.95% 2.62% 2.16% -6.08% -2.52% 2.72% 6.22% -6.36% -2.39% 4.13%  
      cost of sales
    		1,607,000,000 1,643,000,000 1,538,000,000 1,578,000,000 1,573,000,000 1,592,000,000 1,617,000,000 1,635,000,000 1,652,000,000 1,623,000,000 1,665,000,000 1,786,000,000 1,727,000,000 
      gross profit
    		2,302,000,000 2,137,000,000 2,226,000,000 2,261,000,000 2,168,000,000 2,070,000,000 2,282,000,000 2,365,000,000 2,242,000,000 2,043,000,000 2,250,000,000 2,225,000,000 2,125,000,000 
      yoy
    		6.18% 3.24% -2.45% -4.40% -3.30% 1.32% 1.42% 6.29% 5.51%     
      qoq
    		7.72% -4.00% -1.55% 4.29% 4.73% -9.29% -3.51% 5.49% 9.74% -9.20% 1.12% 4.71%  
      gross margin %
    		58.89% 56.53% 59.14% 58.90% 57.95% 56.53% 58.53% 59.13% 57.58% 55.73% 57.47% 55.47% 55.17% 
      selling, general, and administrative expenses
    		1,453,000,000 1,535,000,000 1,512,000,000 1,504,000,000 1,537,000,000 1,525,000,000 1,590,000,000 1,641,000,000 1,573,000,000 1,586,000,000 1,531,000,000 1,522,000,000 1,502,000,000 
      restructuring expenses
    		71,000,000 86,000,000 84,000,000 60,000,000 60,000,000 65,000,000 31,000,000 48,000,000 41,000,000     
      other operating expense
    		11,000,000 -42,000,000 1,000,000 5,000,000 13,000,000 -3,000,000 7,000,000 12,000,000 78,000,000 -3,000,000 9,000,000 1,000,000  
      operating income
    		767,000,000 535,000,000 629,000,000 692,000,000 558,000,000 483,000,000 654,000,000 154,000,000 550,000,000 460,000,000 710,000,000 702,000,000 640,000,000 
      yoy
    		37.46% 10.77% -3.82% 349.35% 1.45% 5.00% -7.89% -78.06% -14.06%     
      qoq
    		43.36% -14.94% -9.10% 24.01% 15.53% -26.15% 324.68% -72.00% 19.57% -35.21% 1.14% 9.69%  
      operating margin %
    		19.62% 14.15% 16.71% 18.03% 14.92% 13.19% 16.77% 3.85% 14.12% 12.55% 18.14% 17.50% 16.61% 
      other expense
    		 10,000,000 10,000,000 10,000,000 6,000,000 42,000,000 -19,000,000 -3,000,000 28,000,000 7,000,000 25,000,000 10,000,000 31,000,000 
      interest expense
    		95,000,000 98,000,000 93,000,000 94,000,000 94,000,000 95,000,000 96,000,000 92,000,000 95,000,000 96,000,000 100,000,000 53,000,000  
      income before taxes
    		672,000,000 427,000,000 526,000,000 588,000,000 458,000,000 346,000,000 577,000,000 65,000,000 427,000,000 357,000,000 585,000,000 639,000,000 609,000,000 
      provision for taxes
    		198,000,000 97,000,000 128,000,000 168,000,000 136,000,000 53,000,000 194,000,000 7,000,000 131,000,000 30,000,000 147,000,000 209,000,000 279,000,000 
      net income
    		474,000,000 330,000,000 398,000,000 420,000,000 322,000,000 293,000,000 383,000,000 58,000,000 296,000,000 327,000,000 438,000,000 430,000,000 330,000,000 
      yoy
    		47.20% 12.63% 3.92% 624.14% 8.78% -10.40% -12.56% -86.51% -10.30%     
      qoq
    		43.64% -17.09% -5.24% 30.43% 9.90% -23.50% 560.34% -80.41% -9.48% -25.34% 1.86% 30.30%  
      net income margin %
    		12.13% 8.73% 10.57% 10.94% 8.61% 8.00% 9.82% 1.45% 7.60% 8.92% 11.19% 10.72% 8.57% 
      net income per share
    		             
      basic
    		0.25 0.18 0.21 0.22 0.17 0.16 0.2 0.03 0.15 0.17 0.23   
      diluted
    		0.25 0.17 0.21 0.22 0.17 0.16 0.2 0.03 0.15 0.17 0.23   
      weighted-average number of shares outstanding
    		             
      basic
    		1,918 1,917 1,918 1,919 1,914 1,915 1,915 1,915 1,915 1,846,135 1,916   
      diluted
    		1,922 1,924 1,923 1,928 1,925 1,923 1,924 1,920 1,920 1,850,325 1,920   
      impairment charges
    		       510,000,000      
      weighted-average common stock
    		             
      basic
    		1,918 1,917 1,918 1,919 1,914 1,915 1,915 1,915 1,915 1,846,135 1,916   
      diluted
    		1,922 1,924 1,923 1,928 1,925 1,923 1,924 1,920 1,920 1,850,325 1,920   
      basic and diluted net income per share
    		           0.23 0.19 
      basic and diluted weighted-average common stock
    		           1,838  
      other income, net, operating
    		            -17,000,000 
      basic and diluted weighted-average common shares
    		            1,716 
    Balance Sheets:
    Quarterly
    Annual
      Unit: USD2026-03-29 2025-12-28 2025-09-28 2025-06-29 2025-03-30 2024-12-29 2024-09-29 2024-06-30 2024-03-31 2023-12-31 2023-10-01 2023-07-02 2023-04-02 
                   
        assets
      		             
        current assets
      		             
        cash and cash equivalents
      		1,075,000,000 1,062,000,000 1,139,000,000 1,070,000,000 1,057,000,000 1,070,000,000 1,057,000,000 1,014,000,000 1,155,000,000 1,382,000,000 1,062,000,000 1,231,000,000 1,691,000,000 
        trade receivables, less allowances for credit losses
      		2,501,000,000 2,382,000,000 2,416,000,000 2,331,000,000 2,312,000,000 2,165,000,000 2,394,000,000 2,240,000,000 2,160,000,000 2,073,000,000 2,109,000,000 2,096,000,000 2,109,000,000 
        inventories
      		1,674,000,000 1,666,000,000 1,794,000,000 1,776,000,000 1,680,000,000 1,591,000,000 1,820,000,000 1,849,000,000 1,884,000,000 1,851,000,000 1,885,000,000 2,026,000,000 2,222,000,000 
        prepaid expenses and other receivables
      		410,000,000 432,000,000 531,000,000 525,000,000 505,000,000 494,000,000 460,000,000 557,000,000 645,000,000 567,000,000 619,000,000 643,000,000 242,000,000 
        other current assets
      		135,000,000 155,000,000 152,000,000 152,000,000 156,000,000 205,000,000 210,000,000 221,000,000 253,000,000 265,000,000 219,000,000 223,000,000 175,000,000 
        total current assets
      		5,795,000,000 5,697,000,000 6,032,000,000 5,854,000,000 5,710,000,000 5,525,000,000 5,941,000,000 5,881,000,000 6,097,000,000 6,138,000,000 5,894,000,000 6,219,000,000 6,439,000,000 
        property, plant, and equipment
      		2,208,000,000 2,212,000,000 2,092,000,000 2,038,000,000 1,927,000,000 1,849,000,000 1,776,000,000 2,004,000,000 2,005,000,000 2,042,000,000 1,872,000,000 1,832,000,000 1,836,000,000 
        intangible assets
      		8,540,000,000 8,694,000,000 8,716,000,000 8,804,000,000 8,586,000,000 8,474,000,000 8,887,000,000 8,762,000,000 9,378,000,000 9,619,000,000 9,487,000,000 9,678,000,000 9,837,000,000 
        goodwill
      		9,376,000,000 9,509,000,000 9,441,000,000 9,486,000,000 9,136,000,000 8,843,000,000 9,297,000,000 8,973,000,000 9,032,000,000 9,271,000,000 8,974,000,000 9,081,000,000 9,234,000,000 
        deferred taxes on income
      		232,000,000 237,000,000 237,000,000 220,000,000 199,000,000 184,000,000 228,000,000 206,000,000 171,000,000 158,000,000 156,000,000 143,000,000 168,000,000 
        other assets
      		703,000,000 727,000,000 730,000,000 730,000,000 699,000,000 726,000,000 796,000,000 617,000,000 600,000,000 623,000,000 694,000,000 589,000,000 386,000,000 
        total assets
      		26,854,000,000 27,076,000,000 27,248,000,000 27,132,000,000 26,257,000,000 25,601,000,000 26,925,000,000 26,443,000,000 27,283,000,000 27,851,000,000 27,077,000,000 27,542,000,000 35,595,000,000 
        liabilities and stockholders’ equity
      		             
        current liabilities
      		             
        loans and notes payable
      		1,589,000,000 1,453,000,000 1,913,000,000 1,553,000,000 2,429,000,000 1,552,000,000 1,648,000,000 1,427,000,000 1,522,000,000 599,000,000 513,000,000 752,000,000  
        accounts payable
      		2,533,000,000 2,473,000,000 2,445,000,000 2,568,000,000 2,332,000,000 2,254,000,000 2,274,000,000 2,437,000,000 2,602,000,000 2,489,000,000 2,281,000,000 2,354,000,000 1,781,000,000 
        accrued liabilities
      		901,000,000 1,159,000,000 958,000,000 1,081,000,000 1,007,000,000 1,132,000,000 1,164,000,000 1,262,000,000 1,083,000,000 1,456,000,000 1,288,000,000 1,201,000,000 987,000,000 
        accrued rebates, returns, and promotions
      		777,000,000 755,000,000 737,000,000 697,000,000 744,000,000 727,000,000 697,000,000 715,000,000 795,000,000 795,000,000 696,000,000 753,000,000 838,000,000 
        accrued taxes on income
      		96,000,000 105,000,000 103,000,000 89,000,000 154,000,000 74,000,000 163,000,000 96,000,000 164,000,000 142,000,000 383,000,000 239,000,000 604,000,000 
        total current liabilities
      		5,896,000,000 5,945,000,000 6,156,000,000 5,988,000,000 6,666,000,000 5,739,000,000 5,946,000,000 5,937,000,000 6,166,000,000 5,481,000,000 5,161,000,000 5,299,000,000 4,210,000,000 
        long-term debt
      		7,072,000,000 7,071,000,000 7,060,000,000 7,057,000,000 6,309,000,000 7,055,000,000 7,053,000,000 7,051,000,000 7,033,000,000 7,687,000,000 7,685,000,000 7,684,000,000 7,676,000,000 
        employee-related obligations
      		345,000,000 340,000,000 373,000,000 371,000,000 350,000,000 342,000,000 362,000,000       
        other liabilities
      		579,000,000 601,000,000 600,000,000 606,000,000 559,000,000 536,000,000 542,000,000 535,000,000 541,000,000 491,000,000 569,000,000 593,000,000 516,000,000 
        total liabilities
      		16,246,000,000 16,311,000,000 16,614,000,000 16,402,000,000 16,204,000,000 15,933,000,000 16,281,000,000 16,265,000,000 16,662,000,000 16,640,000,000 16,184,000,000 16,502,000,000 15,313,000,000 
        commitments and contingencies
      		             
        stockholders’ equity
      		             
        preferred stock, 0.01 par value...
      		             
        common stock, 0.01 par value...
      		19,000,000 19,000,000 19,000,000 19,000,000 19,000,000 19,000,000 19,000,000 19,000,000 19,000,000 19,000,000 19,000,000 19,000,000  
        additional paid-in capital
      		16,362,000,000 16,348,000,000 16,320,000,000 16,288,000,000 16,201,000,000 16,130,000,000 16,098,000,000 16,075,000,000 16,033,000,000 16,147,000,000 16,131,000,000 16,098,000,000  
        treasury stock
      		-439,000,000 -439,000,000 -439,000,000 -369,000,000 -305,000,000 -242,000,000 -121,000,000 -98,000,000 -98,000,000 -7,000,000    
        accumulated deficit
      		-128,000,000 -204,000,000 -136,000,000 -136,000,000 -163,000,000         
        accumulated other comprehensive loss
      		-5,206,000,000 -4,959,000,000 -5,130,000,000 -5,072,000,000 -5,699,000,000 -6,146,000,000 -5,359,000,000 -5,835,000,000 -5,675,000,000 -5,377,000,000 -5,742,000,000 -5,507,000,000 -5,239,000,000 
        total stockholders’ equity
      		10,608,000,000 10,765,000,000 10,634,000,000 10,730,000,000 10,053,000,000 9,668,000,000        
        total liabilities and stockholders’ equity
      		26,854,000,000 27,076,000,000 27,248,000,000 27,132,000,000 26,257,000,000 25,601,000,000        
        (accumulated deficit) retained earnings
      		     -93,000,000        
        liabilities and equity
      		             
        equity
      		             
        retained earnings
      		      7,000,000 17,000,000 342,000,000 429,000,000 485,000,000 430,000,000  
        total equity
      		      10,644,000,000 10,178,000,000 10,621,000,000 11,211,000,000 10,893,000,000 11,040,000,000 20,282,000,000 
        total liabilities and equity
      		      26,925,000,000 26,443,000,000 27,283,000,000 27,851,000,000 27,077,000,000 27,542,000,000 35,595,000,000 
        employee related obligations
      		       350,000,000 354,000,000 360,000,000 254,000,000 244,000,000 228,000,000 
        net investment from johnson & johnson
      		             
        net investment from parent
      		            25,521,000,000 
        restricted cash
      		            7,695,000,000 
      Cashflow Statements:
      Quarterly
      Annual
        Unit: USD2026-03-29 2025-12-28 2025-09-28 2025-06-29 2025-03-30 2024-12-29 2024-09-29 2024-06-30 2024-03-31 2023-12-31 2023-10-01 2023-07-02 2023-04-02 
                     
          cash flows from operating activities
        		             
          net income
        		474,000,000 330,000,000 398,000,000 420,000,000 322,000,000 293,000,000 383,000,000 58,000,000 296,000,000 327,000,000 577,000,000 430,000,000 330,000,000 
          adjustments to reconcile net income to cash flows from operating activities
        		             
          depreciation and amortization
        		143,000,000 138,000,000 141,000,000 142,000,000 136,000,000 150,000,000 182,000,000 141,000,000 149,000,000 174,000,000 153,000,000 148,000,000 152,000,000 
          stock-based compensation
        		29,000,000 30,000,000 25,000,000 37,000,000 44,000,000 54,000,000 58,000,000 61,000,000 81,000,000 113,000,000 2,000,000 38,000,000 35,000,000 
          deferred income taxes
        		28,000,000 -97,000,000 16,000,000 -14,000,000 -13,000,000 -40,000,000 -40,000,000 -201,000,000 -4,000,000 14,000,000 -283,000,000 -12,000,000 167,000,000 
          other
        		18,000,000 13,000,000 21,000,000 17,000,000 16,000,000 2,000,000 17,000,000 45,000,000 5,000,000 17,000,000 -23,000,000   
          net changes in assets and liabilities
        		             
          trade receivables
        		-136,000,000 35,000,000 -96,000,000 48,000,000 -99,000,000 125,000,000 -110,000,000 -109,000,000 -124,000,000 141,000,000 -42,000,000 -78,000,000 23,000,000 
          inventories
        		-19,000,000 132,000,000 -27,000,000 -51,000,000 -66,000,000 169,000,000 62,000,000 14,000,000 -63,000,000 74,000,000 132,000,000 126,000,000 17,000,000 
          other current and non-current assets
        		-16,000,000 -25,000,000 35,000,000 53,000,000 59,000,000 -46,000,000 -6,000,000 90,000,000 -55,000,000 -11,000,000 77,000,000 -482,000,000 -13,000,000 
          accounts payable and accrued liabilities
        		-77,000,000 130,000,000 -198,000,000 123,000,000 -14,000,000 37,000,000 -336,000,000 -56,000,000 -181,000,000     
          employee-related obligations
        		5,000,000 26,000,000 21,000,000 -7,000,000 3,000,000         
          accrued taxes on income
        		33,000,000 53,000,000 -51,000,000 -91,000,000 62,000,000 -70,000,000 53,000,000 -71,000,000 27,000,000   -479,000,000 272,000,000 
          other liabilities
        		7,000,000 66,000,000 9,000,000 -56,000,000 -22,000,000 25,000,000 -12,000,000 -13,000,000 52,000,000 11,000,000 28,000,000 -62,000,000 -189,000,000 
          net cash flows from operating activities
        		489,000,000 854,000,000 294,000,000 621,000,000 428,000,000 793,000,000 249,000,000 440,000,000 287,000,000 950,000,000 674,000,000 742,000,000 802,000,000 
          capital expenditures
        		-139,000,000 -110,000,000 -98,000,000 -88,000,000 -179,000,000 -132,000,000 -59,000,000 -90,000,000 -153,000,000 -223,000,000 -114,000,000 -77,000,000 -55,000,000 
          free cash flows
        		350,000,000 744,000,000 196,000,000 533,000,000 249,000,000 661,000,000 190,000,000 350,000,000 134,000,000 727,000,000 560,000,000 665,000,000 747,000,000 
          cash flows from investing activities
        		             
          purchases of property, plant, and equipment
        		-139,000,000 -110,000,000 -98,000,000 -88,000,000 -179,000,000 -132,000,000 -59,000,000 -90,000,000 -153,000,000 -223,000,000 -114,000,000 -77,000,000 -55,000,000 
          other investing activities
        		-28,000,000 11,000,000 -6,000,000 -2,000,000 12,000,000 6,000,000 3,000,000 5,000,000 1,000,000 -49,000,000    
          net cash flows from investing activities
        		-167,000,000 -75,000,000 -104,000,000 -90,000,000 -167,000,000 -132,000,000 -56,000,000 -85,000,000 -152,000,000 -265,000,000 -105,000,000 -77,000,000 -41,000,000 
          cash flows from financing activities
        		             
          proceeds from commercial paper program, net of repayments and issuance costs
        		870,000,000             
          repayment of senior notes
        		-750,000,000 0 0 0 -750,000,000         
          dividends paid
        		-398,000,000 -398,000,000 -398,000,000 -393,000,000 -392,000,000 -393,000,000 -393,000,000 -383,000,000 -383,000,000 -383,000,000    
          purchase of treasury stock
        		 0 -70,000,000 -64,000,000 -63,000,000         
          other financing activities
        		-17,000,000 -1,000,000 9,000,000 56,000,000 27,000,000 35,000,000 45,000,000 -5,000,000 -12,000,000 -77,000,000    
          net cash flows from financing activities
        		-295,000,000 -869,000,000 -110,000,000 -548,000,000 -310,000,000 -587,000,000 -162,000,000   -383,000,000 -726,000,000 -8,806,000,000 7,388,000,000 
          effect of exchange rate changes on cash and cash equivalents
        		-14,000,000 13,000,000 -11,000,000 30,000,000 36,000,000 -61,000,000 12,000,000   18,000,000 -12,000,000   
          cash and cash equivalents, beginning of period
        		1,062,000,000 0 0 0 1,070,000,000 0 0   0 0   
          net increase in cash and cash equivalents
        		13,000,000 -77,000,000        320,000,000    
          cash and cash equivalents, end of period
        		1,075,000,000 -77,000,000 69,000,000 13,000,000 1,057,000,000 13,000,000 43,000,000   320,000,000 -169,000,000   
          impairment charges
        		     0 0       
          losses on investments
        		             
          transfer of funds to j&j pursuant to the facility agreement
        		         0 0   
          proceeds from j&j upon repayment of the facility agreement
        		         0 0   
          proceeds from (costs associated with) sale of assets
        		             
          (repayments of) proceeds from commercial paper program, net of (proceeds) repayments and issuance costs
        		             
          proceeds from issuance of senior notes, net of issuance costs
        		             
          proceeds from kenvue ipo
        		         0 0   
          distribution to j&j in connection with the separation
        		         0 0   
          net transfers to j&j
        		             
          proceeds from issuance of senior notes, net of issuance cost
        		  0       0 0   
          (repayments of) proceeds from commercial paper program, net of issuance cost
        		             
          proceeds from commercial paper program, net of issuance cost
        		    868,000,000 -101,000,000 208,000,000 -110,000,000 160,000,000 77,000,000 -245,000,000   
          net decrease in cash and cash equivalents
        		    -13,000,000         
          (costs associated with) proceeds from sale of assets
        		             
          proceeds from (payments of) loans and notes payables
        		     -7,000,000 1,000,000       
          supplemental disclosures of cash flow information
        		             
          net cash paid for income taxes
        		             
          cash paid for interest
        		             
          employee related obligations
        		      -2,000,000 2,000,000 5,000,000   -6,000,000 10,000,000 
          proceeds from sale of assets
        		         7,000,000 0 0 14,000,000 
          purchases of treasury shares
        		      -23,000,000 0 -91,000,000     
          impairments
        		        99,000,000     
          cash flows (used in) from financing activities
        		             
          payments of loans and notes payables
        		             
          net transfers from (to) j&j
        		             
          net cash flows (used in) from financing activities
        		        -326,000,000     
          effect of exchange rate changes on cash and cash equivalents and restricted cash
        		        -36,000,000    6,000,000 
          cash and cash equivalents and restricted cash, beginning of period
        		        1,382,000,000    1,231,000,000 
          net increase in cash and cash equivalents and restricted cash
        		        -227,000,000    8,155,000,000 
          cash and cash equivalents and restricted cash, end of period
        		        1,155,000,000    9,386,000,000 
          accounts payable
        		         159,000,000 -98,000,000 383,000,000 -54,000,000 
          accrued liabilities
        		         340,000,000 -52,000,000 724,000,000 52,000,000 
          (payments of) proceeds from loans and notes payables
        		             
          net transfer from (to) j&j
        		             
          (proceeds from) payments of loans and notes payable
        		             
          net transfer to j&j
        		             
          other investing
        		             
          (payments of) proceeds from loans and notes payable
        		           -2,000,000 -12,000,000 
          net transfer to the parent
        		           12,000,000 -286,000,000 
          other financing
        		             
          proceeds from long-term debt, net of issuance costs
        		            7,686,000,000