Kenvue Inc.

Listed Company

KVUECIK 0001944048NYSELarge AcceleratedPerfumes, Cosmetics & Other Toilet PreparationsDelawareFY ends Jan 3

Period

FY 2025

Revenue

$15.12B

Net Income

$1.47B

Total Assets

$27.08B

Equity

$10.77B

Shares Out

1.92B

Op. Cash Flow

$2.20B

Business

Kenvue Inc. is a global company that develops, manufactures, markets, and sells consumer health and personal care products centered on everyday health and wellness. Its main offerings include over‑the‑counter medicines, skin and hair care, oral care, baby care, wound care and related consumer health solutions under iconic brands such as Tylenol®, Neutrogena®, Listerine®, Johnson’s®, BAND‑AID® Brand, Aveeno®, Zyrtec® and Nicorette®. The company operates through three reportable segments—Self Care; Skin Health and Beauty; and Essential Health—supported by R&D, marketing, manufacturing and supply‑chain capabilities. Kenvue markets products across North America, APAC, EMEA and LATAM and distributes them through retail, e‑commerce, and direct‑to‑consumer channels in over 165 countries worldwide.

Summary from filing dated 2025-02-24

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Net sales	15,124	15,455	15,444	14,950	15,054
Cost of sales	6,332	6,496	6,801	6,665	6,635
Gross profit	8,792	8,959	8,643	8,285	8,419
Selling, general, and administrative expenses	6,088	6,329	6,141	5,633	5,484
Restructuring expenses	290	185	0	0	—
Impairment charges	23	578	0	12	—
Other operating (income) expense, net	−23	26	−10	−35	15
Operating income	2,414	1,841	2,512	2,675	2,920
Other expense, net	36	48	72	38	−5
Interest expense, net	379	378	250	0	—
Income before taxes	1,999	1,415	2,190	2,637	2,925
Provision for taxes	529	385	526	573	847
Net income	1,470	1,030	1,664	2,064	2,078
Basic (in dollars per share)	0.77	0.54	0.9	1.2	1.21
Diluted (in dollars per share)	0.76	0.54	0.9	1.2	1.21
Basic (in shares)	1,917	1,915	1,846	1,716	1,716
Diluted (in shares)	1,924	1,923	1,850	1,716	1,716

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2023 2023-04-30	FY 2022 2022-12-31
Cash and cash equivalents	1,062	1,070	1,382	1,170	1,231
Trade receivables, less allowances for credit losses ($26 as of both December 28, 2025 and December 29, 2024)	2,382	2,165	2,073	—	2,122
Inventories	1,666	1,591	1,851	—	2,226
Prepaid expenses and other receivables	432	494	567	—	175
Other current assets	155	205	265	—	123
Total current assets	5,697	5,525	6,138	—	5,877
Property, plant, and equipment, net	2,212	1,849	2,042	—	1,820
Intangible assets, net	8,694	8,474	9,619	—	9,853
Goodwill	9,509	8,843	9,271	—	9,185
Deferred taxes on income	237	184	158	—	147
Other assets	727	726	623	—	434
Total Assets	27,076	25,601	27,851	—	27,316
Loans and notes payable	1,453	1,552	599	—	0
Accounts payable	2,473	2,254	2,489	—	1,829
Accrued liabilities	1,159	1,132	1,456	—	906
Accrued rebates, returns, and promotions	755	727	795	—	862
Accrued taxes on income	105	74	142	—	—
Total current liabilities	5,945	5,739	5,481	—	3,926
Long-term debt	7,071	7,055	7,687	—	—
Deferred taxes on income	2,354	2,261	2,621	—	2,479
Employee-related obligations	340	342	360	—	214
Other liabilities	601	536	491	—	727
Total liabilities	16,311	15,933	16,640	—	7,346
Commitments and contingencies (Note 17)	—	—	—	—	—
Preferred stock, $0.01 par value, 750,000 shares authorized; no shares issued and outstanding as of December 28, 2025 and December 29, 2024	0	0	0	—	0
Common stock, $0.01 par value, 12,500,000 shares authorized; 1,936,502 and 1,916,115 shares issued and outstanding as of December 28, 2025, respectively; 1,924,977 and 1,913,768 shares issued and outstanding as of December 29, 2024, respectively	19	19	19	—	0
Additional paid-in capital	16,348	16,130	16,147	—	0
Treasury stock, 20,387 and 11,208 shares at cost as of December 28, 2025 and December 29, 2024, respectively	−439	−242	−7	—	0
Accumulated deficit	−204	−93	429	—	0
Accumulated other comprehensive loss	−4,959	−6,146	−5,377	—	−5,455
Total stockholders equity	10,765	9,668	11,211	—	19,970
Total Liabilities and Stockholders Equity	27,076	25,601	27,851	—	27,316

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Depreciation and amortization	557	622	627	644	731
Stock-based compensation	136	254	188	137	141
Deferred income taxes	−108	−285	−114	180	521
Losses on investments	0	72	7	−1	—
Other	67	69	−1	14	−5
Trade receivables	−112	−218	44	−142	−303
Inventories	−12	182	349	−582	−77
Other current and non-current assets	122	−17	−429	119	−68
Accounts payable and accrued liabilities	41	−536	1,454	35	—
Employee-related obligations	43	27	−78	2	14
Accrued taxes on income	−27	−61	−331	−5	−19
Other liabilities	−3	52	−212	48	−32
Net cash flows from operating activities	2,197	1,769	3,168	2,525	334
Purchases of property, plant, and equipment	−475	−434	−469	−375	−295
Transfer of funds to J&J pursuant to the Facility Agreement	0	0	−8,941	0	0
Proceeds from J&J upon repayment of the Facility Agreement	0	0	8,941	0	0
Proceeds from (costs associated with) sale of assets	24	−6	21	8	—
Other investing activities	15	15	−40	−23	47
Net cash flows used in investing activities	−436	−425	−488	−390	−171
(Repayments of) proceeds from commercial paper program, net of (proceeds) repayments and issuance costs	−146	157	574	—	—
Proceeds from issuance of Senior Notes, net of issuance costs	746	0	7,686	0	0
Proceeds from Kenvue IPO, net	0	0	4,241	0	0
Repayment of Senior Notes	−750	0	0	—	—
Distribution to J&J in connection with the Separation	0	0	−13,788	0	0
Dividends paid	−1,581	−1,552	−766	0	0
Net transfers to J&J	0	0	−274	−1,597	7
Purchase of treasury stock	−197	−235	−7	0	—
Other financing activities	91	65	−193	0	0
Net cash flows used in financing activities	−1,837	−1,565	−2,527	−1,583	0
Effect of exchange rate changes on cash and cash equivalents	68	−91	−2	−61	−41
Net (decrease) increase in cash and cash equivalents	−8	−312	151	491	122
Net cash paid for income taxes	595	810	699	316	−363
Cash paid for interest	440	439	224	0	0

Filings

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