# Kenvue Inc. (KVUE)

> Source: Nexqual · https://nexqual.com/KVUE · data as of 2026-10-22 20:00 UTC · cite as "Nexqual, Kenvue Inc. (KVUE), nexqual.com/KVUE" · informational, not investment advice.

**Price:** USD 19.88 (+4.41% on the day) · last close of Oct 22, 2026; US market pre market, not a live price. Prev close 19.04 · day 19.18–19.89 · 52w 14.02–20.13 · market cap $38.2B · NYQ

## Key facts
- Last four reported quarters (through Jun 28, 2026): revenue $15.4B, net income $1.66B (10.8% margin), free cash flow $1.91B (SEC filings).
- Valuation: P/E 23.0x (avg 28.8x at the last 3 fiscal year-ends), EV/EBITDA 14.1x, net debt $5.96B.
- 3 of 80 tracked superinvestors hold KVUE (13F, Q2 2026): 0 new, 3 added, 0 reduced, 0 unchanged.
- Insider open-market sales, last ~7 months: 2 Form 4 filings, $747K; 2 not under a Rule 10b5-1 plan ($747K); 0 by opportunistic insiders, 0 by routine insiders (three-year test, Cohen, Malloy & Pomorski 2012).
- Analysts: Hold (mean 2.79 on a 1–5 scale) (14 analysts), mean target USD 19.5 (range 18–23).
- Total return with dividends: 1Y +39.7% vs S&P 500 +14.9%; 5Y -13.3% vs S&P 500 +80.3%.
- Next earnings: 2026-10-30, EPS estimate USD 0.29, revenue estimate $3.86B.

## Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters)
| USD | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | TTM |
|---|---|---|---|---|---|---|
| Revenue | $15.1B | $14.9B | $15.4B | $15.5B | $15.1B | $15.4B |
| Gross profit | $8.42B | $8.29B | $8.64B | $8.96B | $8.79B | — |
| Operating income | $2.92B | $2.67B | $2.51B | $1.84B | $2.41B | $2.63B |
| Net income | $2.08B | $2.06B | $1.66B | $1.03B | $1.47B | $1.66B |
| EPS (diluted) | $1.21 | $1.20 | $0.90 | $0.54 | $0.76 | — |
| Free cash flow | $39.0M | $2.15B | $2.70B | $1.33B | $1.72B | $1.91B |
| Gross margin | 55.9% | 55.4% | 56.0% | 58.0% | 58.1% | — |
| Operating margin | 19.4% | 17.9% | 16.3% | 11.9% | 16.0% | 17.1% |
| Net margin | 13.8% | 13.8% | 10.8% | 6.7% | 9.7% | 10.8% |
| Revenue growth | — | -0.7% | +3.3% | +0.1% | -2.1% | — |
| Cash + short-term investments | $740M | $1.23B | $1.38B | $1.07B | $1.06B | — |
| Total debt | — | $0K | $7.69B | $7.80B | $7.82B | — |
Fiscal years end Dec. EPS is split-adjusted.

## Valuation (price ÷ last four quarters, through Jun 28, 2026)
P/E 23.0x · P/S 2.5x · EV/EBITDA 14.1x · EV/Sales 2.9x · P/FCF 20.0x · P/B 3.6x · FCF yield 5.01% · Earnings yield 4.34% · Dividend yield (paid, TTM) 4.17% · Buyback yield (TTM) 0.18% · Net debt $5.96B · EV $44.1B
P/E at fiscal year-ends: Dec 2025 22.6x, Dec 2024 39.9x, Dec 2023 23.9x.

## Superinvestors (SEC 13F-HR, Q2 2026)
3 of 80 tracked investors hold KVUE. Each row is the investor's latest 13F; change is vs their prior-quarter share count.
| Investor | Firm | % of portfolio | Value | Change |
|---|---|---|---|---|
| Yacktman Asset Management |  | 1.90% | $154M | Added +1.5% |
| Tweedy Browne |  | 0.11% | $1.4M | Added +78.3% |
| Lee Ainslie | Maverick Capital | 0.03% | $3.3M | Added +89.1% |

## Insider sales (SEC Form 4, open-market, last ~7 months)
0 of 2 under a Rule 10b5-1 trading plan (scheduled in advance). Unplanned sales were timed by the insider.
| Trade date | Insider | Role | Shares | Value | % of holdings sold | 10b5-1 plan | Insider type |
|---|---|---|---|---|---|---|---|
| 2026-06-10 | Howlett Heather | CFO & CAO | 3,700 | $67K | 11.2% | No | Too little history (no open-market trades in 2023–2025) |
| 2026-05-08 | Orlando Matthew | General Counsel | 38,491 | $680K | 100% | No | Too little history (no open-market trades in 2023–2025) |
% of holdings sold = shares sold ÷ (shares sold + all holdings the insider reported on that Form 4, direct and through trusts).
Insider type follows Cohen, Malloy & Pomorski (Journal of Finance, 2012). An insider who traded the stock in the same calendar month in each of the past three years is a routine trader; one who traded in each of those years without such a pattern is an opportunistic trader. In their study, trades by opportunistic insiders predicted future returns and trades by routine insiders did not. Counts open-market purchases and sales only (SEC Form 4 codes P and S) by that insider in that company. Not investment advice.

## Analysts
Consensus Hold (mean 2.79 on a 1–5 scale), 14 analysts; mean target USD 19.5 (low 18, high 23).
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-08-11 | UBS | Target lowered | Neutral | $20 → $19 |
| 2026-07-21 | Barclays | Target raised | Equal-Weight | $18 → $19 |
| 2026-07-16 | UBS | Target raised | Neutral | $18 → $20 |

## Total return (dividends reinvested)
|  | 1Y (from 2025-10-23) | 5Y (from 2023-05-01) |
|---|---|---|
| Total return | +39.7% | -13.3% |
| S&P 500 (SPY) | +14.9% | +80.3% |
| Per year | +39.9% | -4.0% |
| Volatility (annualized) | 24.3% | 26.4% |
| Max drawdown | -12.5% (Feb 2026→Apr 2026) | -42.5% (May 2023→Oct 2025) |

## Peers (Household & Personal Products)
EL (Estee Lauder Companies, Inc. (T) USD 107.72 +3.92% · KMB (Kimberly-Clark Corporation) USD 112.32 +5.32% · CHD (Church & Dwight Company, Inc.) USD 108.86 +3.68% · CL (Colgate-Palmolive Company) USD 97.39 +4.27% · CLX (Clorox Company (The)) USD 88.66 +4.59% · UL (Unilever PLC) USD 67 +4.04%

## More
Full page: https://nexqual.com/KVUE · Free keyless MCP server with the same data and citations: https://mcp.nexqual.com/mcp · Guide for agents: https://nexqual.com/agents · https://nexqual.com/llms.txt

## Supply chain and relationships (SEC annual reports)


Other companies that name KVUE in their own reports (relationship from KVUE's side):

| Relationship | Company | Their filing | Sentence |
|---|---|---|---|
| customer | KIMBERLY CLARK CORP (KMB) | 10-K 2026-02-12 | "Following the mergers, some of the customers, distributors, service providers, suppliers, vendors, joint venture participants and other business counterparties of K-C or Kenvue may terminate or scale …" |

## Revenue by business segment (quarter ended 2026-06-28)

| Line | Revenue | Share | YoY |
|---|---|---|---|
| Self Care | $1.59B | 40.2% | +2.2% |
| Essential Health | $1.25B | 31.7% | +2.3% |
| Skin Health and Beauty | $1.11B | 28.1% | +5.1% |
| Total revenue | $3.96B | 100% | — |

## Revenue by region (fiscal year ended 2025-12-28)

| Line | Revenue | Share | YoY |
|---|---|---|---|
| North America | $7.26B | 48.0% | -4.2% |
| United States | $6.46B | 42.7% | -3.9% |
| EMEA | $3.72B | 24.6% | +4.6% |
| Asia Pacific | $2.77B | 18.3% | -6.7% |
| Latin America | $1.37B | 9.1% | +1.9% |
| Total revenue | $15.12B | 100% | — |
The lines above cover 142.7% of total revenue.

## Customer concentration

Period ended 2025-12-28: 12% of revenue from unnamed direct customers (10-K, filed 2026-02-20).

## Company outlook (8-K filed 2026-08-06)

- "Amidst a dynamic consumer and macro environment, our first-half 2026 results met or exceeded our expectations across key metrics, underscoring the strength and resilience of our people, brands, and new strategic plans." Perry continued, "Our transformation is firmly on track."
- "The Initiative is expected to result in pre-tax restructuring expenses and other charges totaling approximately $250 million in fiscal year 2026."
- "Cautions Concerning Forward-Looking Statements This press release contains "forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995 regarding, among other things, statements about management's expectations of Kenvue's future operating and financial performance, product development, market position, and business strategy."

## Analyst estimates and revisions

| Period | EPS est. | 90d ago | Change | Revenue est. | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends 2026-09-30) | $0.29 | $0.30 | -2.9% | $3.86B | 9 |
| Next quarter (ends 2026-12-31) | $0.27 | $0.27 | -0.7% | $3.87B | 9 |
| Current fiscal year (ends 2026-12-31) | $1.18 | $1.19 | -0.7% | $15.60B | 14 |
| Next fiscal year (ends 2027-12-31) | $1.24 | $1.25 | -0.4% | $15.97B | 15 |