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Kenvue Inc.

Rank #198Value

KVUE · NYSE · Consumer Defensive

Kenvue Inc. (KVUE) — Rank #198 by gross profitability (GP/assets 0.33) · ROE 13.9% · Piotroski F-Score N/A.

As-of 2026-09-15 · CIK 0001944048 · all metrics point-in-time as of the filing date.

About

Kenvue Inc. operates as a consumer health company in the United States, rest of North America, Europe, the Middle East, Africa, the Asia-Pacific, and Latin America.

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It operates in three segments: Self Care, Skin Health and Beauty, and Essential Health. The company offers over-the-counter medicine for cough, cold and allergy, pain care, digestive health, smoking cessation, and eye care, as well as other naturally inspired and self-care products, digital diagnostics, and telemedicine; face and body care, hair, sun, and other care products; oral and baby care, women's health, wound care, and other essential health products; tampons; cosmetics; and vitamins and supplements. It sells its products under the Benadryl, Calpol, Motrin, Nicorette, Rhinocort, Tylenol, Zarbee's Naturals, and Zyrtec; Aveeno, Dr.Ci:Labo, Le Petit Marseillais, Lubriderm, Neutrogena, OGX, and Rogaine; BAND-AID, Carefree, Desitin, Johnson's, Listerine, o.b., and Stayfree; and ORSL, Clean & Clear, Versalie, Benylin, Daktarin, Imodium, Johnson's Baby, Johnson's Adult, Maui Moisture, Microlax, Motilium, Neosporin, Neostrata, Pepcid, Pulmicort, Regaine, Sudafed, and Visine/Vispring/Visclear brands. Kenvue Inc.

was incorporated in 2022 and is headquartered in Summit, New Jersey.

Industry
Household & Personal Products
Sector
Consumer Defensive
State
DE
Filer Category
Large accelerated filer
Fiscal Year End
January 3
Website
kenvue.com

Price History

KVUE-23.9% · -7.9% CAGRSPY+95.7% · +22.2% CAGR

Company Snapshot

P/E and dividend yield are the primary valuation lenses for mature businesses.

Market Cap

$34.12B

P/E (annual)

23.4

P/S (annual)

2.3

P/B

3.2

P/OCF (annual)

15.5

Shareholder Yield

4.6%

Employees

21,780

Industry

Household & Personal Products

Exchange

NYSE

Signal Flags

2 green1 red
Operating leverage expandingOperating income growing faster than revenue
Sequential beat (rev + EPS)Both revenue and EPS exceeded prior quarter — 2-quarter streak
Revenue declining YoYRevenue contracted year over year

Quality Profile

Profitability

1/1 pass
GP / assets
0.33
Return on equity
13.9%
Gross margin trend
PASS

Safety

1/1 pass
Balance-sheet safety
PASS
Debt / equity
1.53
Current ratio
1.01×
Net cash
-$296.00M

Cash Flow

3/3 pass
Positive FCF
PASS
Cash-backed earnings
PASS
Accruals healthy
PASS
SBC / revenue
0.9%

Growth

1/2 pass
Revenue growth
-2.1%
Piotroski F-Score
N/A
Share dilution
0.1%

Terry Smith quality gate

Passes 2/5 Terry Smith thresholds

1 of 5 threshold not computable from filed data.

What Growth Is Priced In

Implied revenue growth (10Y)

7.6%

incredible deal

The annual FCF growth rate today's price requires over a 10-year horizon (discount rate 10%, terminal growth 2.5%).

Dilution drag: 0.1% — per-share value needs a total required return of 7.7% once share-count change is priced in.

vs. own 6-year median revenue growth: 3.3%

priced above its own history

Cost-of-equity sensitivity (implied growth at different discount rates)

r = 8%

3.3%

r = 10% (base)

7.6%

r = 12%

11.3%

Net debt / market cap: 0.9%

Base FCF: $1.7B3Y mean FCF: $1.9B

Valuation History

Current multiple vs historical range at each filing date. Band spans 25th-75th percentile.

P / E

Price / diluted EPS

24.6xExpensive
15.6xmed 20.9x43.1x

P / S

Price / revenue per share

2.4xExpensive
2.1xmed 2.3x2.9x

P / B

Price / book value per share

3.3xExpensive
1.6xmed 3.1x4.6x

P / GP

Price / gross profit per share

4.1xExpensive
3.8xmed 4.0x5.0x

P / FCF

Price / free cash flow per share

20.9xFair
12.9xmed 20.9x828.2x

Dividend yield and payout ratio are the primary reads at this stage (trailing P/E — see valuation above).

Profitability

Gross profitability (GP / assets)

0.33

Primary signal (Novy-Marx).

76th pctl of 34 SIC 28 peers

Return on equity

13.9%

Gross margin

58.1%

58th pctl of 34 SIC 28 peers

Revenue growth (YoY)

-2.1%

Gross margin improving

Margin trend vs prior year.

PASS

Operating Leverage

2023202320242025
Revenue vs COGS
Revenue vs OpEx
Op. Income vs Revenue

Growth

Revenue CAGR (3Y)

0.4%

Revenue CAGR (5Y)

—

Earnings CAGR (3Y)

-10.7%

FCF CAGR (3Y)

—

Anti-fragile safety

Balance-sheet safety

Composite anti-fragile check.

PASS

Debt / equity

1.53

10th pctl of 31 SIC 28 peers (best = lowest)

Current ratio

1.01×

0th pctl of 34 SIC 28 peers

Quick ratio

0.61×

Net cash

-$296.00M

Cash & equivalents minus total debt.

Cash-flow health

Free cash flow

$1.72B

Operating cash flow minus capex.

Positive free cash flow

PASS

FCF / net income

0.17

Cash-backing of earnings.

FCF/NI divergence

Unfavorable divergence (yellow flag).

PASS

Accruals healthy

Cash-backed earnings.

PASS

SBC / revenue

0.9%

Stock-based comp intensity.

Dividend safety

Composite score

1.0 / 5

Weak
Payout ratio
107.6%0/5 Weak
FCF coverage
1.09×2/5 Fair
Dividend growth streak
2 yr1/5 Weak
Balance-sheet health
D/E 1.53 · IC N/A1/5 Weak

Piotroski F-Score

F-Score

N/A

Only 8/9 components determinable.

Lifecycle Phase History

20222025
Capital Return
Value
View full financial statements →