# Kenvue Inc. (KVUE) — Stock CV

Kenvue Inc. is a $34.0B consumer staples company. Revenue grew 1.8% over the last year, it keeps 11¢ of every dollar of sales as profit, and its net debt equals ~0.2 years of free cash flow. It trades at 20.5× earnings — near the lowest of its own history.

> Kenvue is the world's largest pure-play consumer health company by sales, generating over $15 billion in annual revenue. Formerly known as Johnson & Johnson's consumer segment, Kenvue spun off and went public in May 2023.

## Identity

- **Ticker**: KVUE
- **Sector**: Consumer Defensive
- **Industry**: Perfumes, Cosmetics & Other Toilet Preparations
- **Headquarters**: SUMMIT, NJ
- **Employees**: 22 000
- **Website**: https://www.kenvue.com
- **Market cap**: $34.0B
- **Last price**: $17.68
- **Financial profile**: Mixed

## Vitals (TTM)

- **Revenue**: $15.4B
- **Net income**: $1.66B
- **Free cash flow**: $1.91B
- **Net debt**: $391M
- **P/E**: 20.5
- **Revenue growth (YoY)**: 1.8%

## Skills (profile scores, 0–100)

| Pillar | Score |
|---|---|
| Valuation | 85 |
| Growth | 31 |
| Profitability | 72 |
| Health | 60 |
| Quality | 90 |
| Moat | 81 |

## Qualifications (beginner checklist) — 8 of 11 passed

- [x] Revenue growing — +1.8% YoY
- [x] Profitable — $1.66B TTM
- [ ] Profit growing — -11.6% YoY
- [x] Generates cash — $1.91B TTM
- [x] Debt under control — ~0.2y of cash flow to repay
- [x] Established company — $34.0B market cap
- [ ] Not printing shares — +12.1% shares over ~5y
- [x] Proven track record — 5/5 profitable years
- [ ] Financially stable — Altman Z 1.7 — distress
- [x] Pays a dividend — yield 4.68%
- [x] Valuation not extreme — P/E 20.5

## Experience (career milestones)

- **2026** — The acquisition is expected to close around the second half of 2026
- **2025** — Kimberly-Clark, a consumer products giant whose brands include Kleenex, Kotex, Huggies and Softex,…
- **Jul 24, 2023** — Johnson & Johnson launched an exchange offer to split off Kenvue, allowing Johnson & Johnson…
- **2022** — The new company was named Kenvue in September 2022, and its initial public offering took place in May 2023, raising…
- **2022** — IPO market since 2022 and said that Kenvue was an "idiosyncratic" IPO candidate as it was well-established
- **FY2021** — Profitable every year on record: 5 consecutive profitable years in our data
- **FY2021** — Revenue already above $10B: $15.1B in first reported year
- **FY2021** — Positive free cash flow every year since: 5-year streak
- **FY2021** — Best year on record: $2.08B net income
- **Nov 10, 2021** — Raising about $3.8 billion in capital for Kenvue, it was the largest IPO since the IPO of Rivian on November 10, 2021

## Strengths

- High gross margin (58.6%)
- Interest covered 5.7× by operating earnings

## Watch-outs

- Altman Z-Score 1.73 — elevated financial-distress risk

## Track record

| Year | Revenue | Net income | Free cash flow |
|---|---|---|---|
| FY2021 | $15.1B | $2.08B | $39.0M |
| FY2022 | $14.9B | $2.06B | $2.15B |
| FY2023 | $15.4B | $1.66B | $2.70B |
| FY2024 | $15.5B | $1.03B | $1.33B |
| FY2025 | $15.1B | $1.47B | $1.72B |

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Source: https://stockcv.com/KVUE — derived from company filings; may be delayed or incomplete. Information, not investment advice.