KVUEKenvue Inc.
Perfumes, Cosmetics & Other Toilet Preparations
- Revenue
- $15.1B
- 2.1% YoY
- Operating margin
- 16.0%
- 34% YoY
- EBITDA
- $3.0B
- 21% YoY
- Market cap
- —
- Employees
- —
- Net debt / EBITDA
- 2.4×
- $7.2B net debt
- AI in 10-K
- —
Red flags 0 of 9
- TSR below peersClear—3+ of last 5 years
- High CEO pay despite TSRClear—Median CEO pay ≥ $15M and TSR flag
- Active 13DClear0 filingsActive-intent 13D in 18 months
- Net insider sellingClear$0 netNet sales over $10M in 12 months
- Earnings not backed by cashClear149% of net incomeCash flow under 80% of net income
- Dilutive SBCClear1% of revenueOver 10% of revenue
- Payouts exceed cash flowClear81% of cash flowBuybacks + dividends over cash flow
- Goodwill-heavyClear35% of assetsOver 40% of assets
- Shareholder dissentClear—Any vote under 80% support
Financials
| Metric | FY2022 | FY2023 | FY2024 | FY2025 | YoY |
|---|---|---|---|---|---|
| Revenue | $15.1B | $15.4B | $15.5B | $15.1B | 2.1% |
| Operating income | $2.9B | $2.5B | $1.8B | $2.4B | 31% |
| Net income | $2.1B | $1.7B | $1.0B | $1.5B | 43% |
| Operating cash flow | $334M | $3.2B | $1.8B | $2.2B | 24% |
| Capex | $295M | $469M | $434M | $475M | 9.4% |
| Stock-based comp | $141M | $188M | $254M | $136M | 46% |
| Buybacks | — | $7M | $235M | $197M | 16% |
| Dividends | $0 | $766M | $1.6B | $1.6B | 1.9% |
Deal filings
None.
13D filers
None on file.
Insider trading
No open-market trades in the last 12 months.
Pay vs performance
| Year | CEO total comp | Comp actually paid | TSR (indexed) | Peer TSR |
|---|---|---|---|---|
| FY2025 | — | — | 70 | 117 |
| FY2024 | — | — | 85 | 113 |
| FY2023 | — | — | 82 | 97 |