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KenvueKVUE

Legal name
Kenvue Inc.
Sector
Energy
Industry
Perfumes, Cosmetics & Other Toilet Preparations
Exchange
NYSE

Stock Price $KVUE

Latest filings

You are here#15 of 25 in Consumer Staples by market cap

Filing record · 2023–202610-K310-Q128-K34

KVUE filed 3 annual reports (10-K), 12 quarterly reports (10-Q) and 34 current reports (8-K) between 2023 and 2026.

  1. Change in control8-K · Aug ’23Aug ’23
  2. Restructuring8-K · May ’24May ’24
  3. Leadership change8-K · Jul ’25Jul ’25
  4. Leadership change8-K · Apr ’26Apr ’26

01—Key figures

Source: 10-KFY2025
Source: 10-KFY2025
Source: 10-KFY2025
Source: 10-KFY2025

Revenue Trend

Year-over-year comparison from 10-K annual reports

  4. $15.12B
YoY changeLargest recent move+2.6%in FY23Latest −2.1%

Latest bar from 10-KFY2025Click a bar to open its SEC filing

View full history →
All KVUE Financial Metrics58 metrics

Income Statement15

Balance Sheet25

Cash Flow13

Per Share5

02—Overview

Kenvue Financial Overview 2023–2025

Updated Nov 4, 2026

Kenvue's net income fell 38.1% to $1.03 billiona in FY2024 on net sales that grew just 0.1%. That gap is the story. Earnings swung on impairments and restructuring, not demand, while margins did the real work. Gross margin widened 200 basis points to 58.0%, yet operating income dropped 26.7% to $1.84 billion after $578 million of impairment charges. The core thesis: this was a flat-revenue, margin-driven business whose reported profits said more about one-time charges than about growth.

Net sales slipped from $15.4 billion in FY2023 to $15.1 billionb in FY2025, and diluted EPS moved from $0.90 to $0.76. Volume was the weak spot. Organic sales fell 2.2% in FY2025 on a 2.3% volume decline, and Skin Health and Beauty segment adjusted operating income dropped 21.4% to $477 million. Cash returns held up, with $1.58 billion of dividends paid in FY2025 against $2.2 billion of operating cash flow. Total debt ended that year at $8.52 billion.

The market priced this at $17.19c a share at the close of FY2025, or 22.6x earnings, for a market cap of $32.9 billion. Kimberly-Clark then paid 0.14625 of its shares plus $3.50 in cash per Kenvue share. The deal closed on November 2, 2026, leaving Kenvue holders with about 46% of the combined company.

Recent Developments (Q2 and Q3 2026)

Growth returned across Q2 2026 and Q3 2026. Net sales rose 3.0% to $3.96 billiond in Q2, then 3.2% to $3.89 billion in Q3. Organic growth accelerated from 1.6% to 2.9%, and Q3 marked the fourth straight quarter of sales growth. Mix shifted: Self Care net sales rose 5.9% in Q3, while Skin Health and Beauty organic sales fell 0.5%. Gross margin slipped to 58.2% in Q2, then reached 59.5% in Q3. Nine-month operating cash flow climbed to $1.88 billion from $1.34 billion, and debt fell to $8.2 billion.

The merger closed on November 2, 2026. Kenvue is now a wholly owned Kimberly-Clark subsidiary, NYSE trading is suspended, and all twelve directors resigned. Bulls point to a $0.22e diluted EPS, stronger cash flow and $200 million of targeted restructuring savings. Bears note a 25.4x P/E as of October 29, 2026, not today, with a $37.0 billion market cap on modest earnings growth.

What to watch: Kimberly-Clark's integration and the $250 million restructuring execution; settlement of the $7.0 billion note exchange offers

03—Filings

Recent SEC Filings

  1. 8-KKenvue 8-K Report, Agreement Terminated (Nov 2, 2026)On November 2, 2026, Kenvue Inc. completed its merger with Kimberly-Clark Corporation (K-C) under the Agreement and Plan of Merger signed November 2, 2025. First Merger Sub merged into Kenvue, which then merged into Second Merger Sub, and the surviving company, Kenvue LLC, is now a direct wholly owned subsidiary of K-C. Each Kenvue common share was converted into 0.14625 shares of K-C common stock plus $3.50 in cash, without interest. K-C funded the cash consideration with cash on hand, debt financing and proceeds from the previously announced sale of a 51% interest in its International Family Care and Professional business. The filing also reports that Kenvue's $4.0 billion senior unsecured revolving credit facility was terminated, with no borrowings outstanding at closing. Kenvue's equity awards were converted into equivalent K-C awards, and performance stock units became solely time-vesting restricted stock units. All twelve Kenvue directors resigned at the First Effective Time. Kenvue's common stock is expected to be delisted from the NYSE, with deregistration to follow on Form 15. For debt holders, Kenvue LLC assumed all obligations on seven series of senior notes, totaling $8.25 billion in aggregate principal across maturities from 2028 to 2063. The filing also discloses a Section 280G tax gross-up arrangement for General Counsel Matthew Orlando, capped at $8 million and expected to be substantially less.
  2. 8-KKenvue 8-K Report, Financial Results (Oct 30, 2026)Kenvue Inc. (NYSE: KVUE) reported results for its fiscal third quarter ended September 27, 2026 in a press release furnished as Exhibit 99.1 to this Form 8-K. Net sales rose 3.2% to $3,886 million, driven by Organic sales growth of 2.9%, volume growth of 1.6% and favorable value realization of 1.3%. Gross profit margin was 59.5% (vs. 59.1%), operating income margin was 18.2% (vs. 16.7%), and diluted EPS was $0.22 (vs. $0.21). Adjusted diluted EPS was $0.29 (vs. $0.28), and adjusted operating income margin was 21.9% (vs. 21.5%). Self Care was the strongest segment with Organic sales growth of 5.4%, while Skin Health and Beauty declined 0.5% on an Organic basis and Essential Health grew 2.5%. For the first nine months of fiscal 2026, net cash flows from operating activities were $1.9 billion (vs. $1.3 billion) and free cash flow was $1.6 billion (vs. $1.0 billion). Total debt was $8.2 billion as of September 27, 2026, and cash and cash equivalents were $1.0 billion. The company is also executing a 2026 Restructuring Initiative, which is expected to result in pre-tax restructuring expenses and other charges of approximately $250 million in fiscal 2026. Because of the pending transaction with Kimberly-Clark, Kenvue will not provide forward-looking guidance and will not host a quarterly conference call. Management stated it is nearing completion of the combination with Kimberly-Clark.
  3. 8-KKenvue 8-K Report, Material Agreement (Oct 13, 2026)Kenvue Inc. (KVUE) reported in this Form 8-K, dated October 13, 2026, that on October 9, 2026 it entered into a Third Supplemental Indenture to its March 22, 2023 indenture with Deutsche Bank Trust Company Americas, as trustee. The amendments were made in connection with Kimberly-Clark Corporation's previously announced offers to exchange any and all of Kenvue's existing senior notes for up to $7.0 billion aggregate principal amount of Kimberly-Clark notes and cash, with consent solicitations run on Kenvue's behalf by Kimberly-Clark. The amendments would eliminate substantially all restrictive covenants, eliminate certain Event of Default triggers (other than failure to pay principal, premium or interest), eliminate the SEC reporting covenant, and remove certain restrictions on consolidating, merging, or transferring substantially all assets. The Third Supplemental Indenture is effective upon execution, but the amendments for each series become operative only upon settlement of the related exchange offer and consent solicitation. Settlement is expected promptly after the Exchange Offer expiration date, which is expected to occur on or about the closing date of Kimberly-Clark's acquisition of Kenvue. The filing covers the existing Kenvue notes, including the 2028, 2030, 2032, 2033, 2043, 2053 and 2063 senior notes. The filing states that the Kimberly-Clark notes have not been registered under the Securities Act. It also cautions that completion of the previously announced acquisition of Kenvue by Kimberly-Clark is a key risk factor for these settlements.
  4. 8-KKenvue 8-K Report, Financial Results (Aug 6, 2026)Kenvue Inc. (NYSE: KVUE) reported results for its fiscal second quarter ended June 28, 2026. Net sales rose 3.0% to $3,955 million, driven by Organic sales growth of 1.6% (value realization of 0.9% and volume growth of 0.7%) and a foreign currency benefit of 1.4%. Diluted EPS increased to $0.24 from $0.22, and Adjusted diluted EPS rose to $0.31 from $0.29. Gross profit margin was 58.2% (vs. 58.9%) and adjusted gross profit margin was 60.2% (vs. 60.9%), with the company citing inflation, tariffs and unfavorable transactional foreign exchange, partly offset by productivity savings and favorable value realization. Operating income margin was 17.7% (vs. 18.0%) and adjusted operating income margin was 22.1% (vs. 22.7%). Net income was $456 million versus $420 million. All three segments grew net sales: Self Care rose 2.2% (Organic growth of 0.6%), Skin Health and Beauty rose 5.1% (Organic growth of 3.7%), and Essential Health rose 2.3% (Organic growth of 1.1%). For the fiscal six months, operating cash flow was $1.2 billion versus $1.0 billion, and free cash flow was $1.0 billion versus $0.8 billion. Cash and cash equivalents were $1.1 billion and total debt was $8.5 billion at June 28, 2026, with net debt of $7.4 billion. The company also announced FDA approval of Tylenol with Naproxen. Kenvue will not provide forward-looking guidance and will not host a conference call because of the pending merger with Kimberly-Clark, which is expected to close in the fourth quarter of 2026 subject to foreign regulatory approvals and other customary closing conditions. Shareholders of both companies approved the transaction on January 29, 2026, and the HSR waiting period expired on February 4, 2026. The 2026 Restructuring Initiative is expected to result in pre-tax charges of approximately $250 million in fiscal year 2026.
  5. 8-KKenvue 8-K Report, Shareholder Vote Results (May 22, 2026)Kenvue Inc. filed this Current Report on Form 8-K, dated May 22, 2026, to disclose the final voting results of its 2026 Annual Meeting of Shareholders, held on May 21, 2026. The filing covers three proposals. It does not address financial results, transactions, or other business developments. Shareholders elected all 12 director nominees named in the 2026 Proxy Statement, filed with the SEC on April 8, 2026, to serve until the 2027 Annual Meeting. Shareholders also approved, on a non-binding advisory basis, the compensation of the company's named executive officers, and ratified PricewaterhouseCoopers LLP as the independent registered public accounting firm for 2026. Among the director votes, Betsy D. Holden received the most against votes, at 35,492,864, while the other nominees received between 5,167,232 and 10,784,111 against votes, excluding Larry J. Merlo, whose total was 10,784,111. Broker non-votes were 107,623,208 for each director nominee and for the say-on-pay proposal.
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04—See also

Related Companies

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