Kenvue
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. It operates in three segments: Self Care, Skin Health and Beauty, and Essential Health. The company offers over-the-counter medicine f…
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. 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.Priced within the modelled range
Other models: USD 11.51–18.33 (median 13.27). The recommended value is in line with them.
Why: Free cash flow is positive and in line with earnings, and the dividend is small, so a cash-flow DCF fits best.
Details and the full model are below.
Market price within modeled range
Free-cash-flow DCF using Fiscal year 2025 reported free cash flow, with cash, debt, and shares from the latest report. Base assumptions are 2.55% growth, 2.4% terminal growth, and 9.2% discount. Low/high cases vary growth by 2 and terminal growth/discount by 1 percentage point; this illustrative range is not a statistical confidence interval or investment advice.
Assumptions: growth 2.55%, discount rate 9.20%, terminal growth 2.40% (sector defaults). See a worked example.
Blended growth assumption: 2.5% (sector default 5.3%, own revenue history 0.1%, analyst revenue consensus 2.4%).
5-year outlook: relative outlook of about 8.6% a year (High confidence), anchored to a 7% market return and adjusted for how this company ranks against others. A ranking aid, not a prediction. See the full forecast.
Analyst consensus expects revenue growth of 2.4% a year; the growth assumption used is 2.6%.
Adjust assumptions
Why this model: Free cash flow is positive and in line with earnings, and the dividend is small, so a cash-flow DCF fits best.
Compare models- Recommended: Free-cash-flow DCF — USD 13.36 (-30.8%)
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EPS-based Gordon proxy
— USD 11.51 (-40.4%)
Not used: Treats all earnings as if paid out and ignores the cash kept for reinvestment, so it overstates value for companies that retain most profit.
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DCF (trailing free cash flow)
— USD 13.36 (-30.8%)
Not used: Not chosen: Free-cash-flow DCF ranks ahead of it for this company.
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FCFF (steady state)
— USD 13.27 (-31.3%)
Not used: Assumes only the long-run terminal growth rate from today, so it ignores the near-term growth expected.
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EV/EBITDA (12x)
— USD 18.33 (-5.1%)
Not used: Used only when free cash flow is far below earnings even after averaging three years; a fixed 12x multiple also ignores sector differences.
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Fade DCF (10-year growth fade)
— USD 13.36 (-30.8%)
Not used: An alternative growth path (fading over 10 years) shown for comparison; the automatic choice does not use it.
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EV/Sales (Rule of 40)
— USD 34.69 (+79.6%)
Not used: Used only for technology and communication companies whose cash-flow value is far below the price.
| Bear USD 9.75 | -98.1% |
| Base USD 13.36 | -44.5% |
| Bull USD 20.08 | 3.8% |
Margin = (value − price) / value, so it is measured against the value and reads lower than the upside to value, which is measured against the price. Positive means the price is below that case.
At USD 19.31 the market implies about this annual free-cash-flow growth for 5 years (terminal 2.4%, discount 9.2%).
Compare: the market implies 11.2% a year, this model assumes 2.6%. The market expects more than this model does, which is why it reads as overvalued.
How the Free-cash-flow DCF value changes with growth (rows) and discount rate (columns). Green cells are above the current price.
| Growth \ Discount | 7.2% | 8.2% | 9.2% | 10.2% | 11.2% |
|---|---|---|---|---|---|
| -1.5% | 15.84 | 13.11 | 11.19 | 9.76 | 8.65 |
| 0.5% | 17.37 | 14.36 | 12.24 | 10.66 | 9.43 |
| 2.6% | 19.02 | 15.70 | 13.36 | 11.62 | 10.28 |
| 4.6% | 20.80 | 17.15 | 14.57 | 12.66 | 11.18 |
| 6.6% | 22.71 | 18.70 | 15.88 | 13.78 | 12.15 |
Track record: see the methodology page for how this model has performed historically, including its limits. Treat it as a screen, not a forecast.
Price history and fair value
No chartable saved daily price history is available for this range. The chart uses stored EODHD prices only and will appear after history is saved.
More detail: quality, peers, price history, dividends and financials
Quality score: 92 / 100
Five equal checks on reported history: profitability, cash generation, revenue growth, balance sheet and margins. It describes business quality, not whether the price is attractive.
| Profitability | 5 of 5 years profitable | 20 / 20 |
| Cash generation | free cash flow positive in 5 of 5 years | 20 / 20 |
| Growth | revenue +0.8% a year | 12 / 20 |
| Balance sheet | net debt 0.0x EBITDA | 20 / 20 |
| Margins | EBITDA margin 21% | 20 / 20 |
Peers in Consumer Staples
Same-sector companies with a valuation, most undervalued first. Compare the margin of safety, yield and quality score side by side.
| Company | Price | Margin of safety | P/E | P/B | Yield | Quality |
|---|---|---|---|---|---|---|
| KVUE (this company) | USD 19.31 | -23.0% | 22.0 | 3.7 | 5.4% | 92 |
| ORK.OL Orkla ASA | NOK 103.30 | 31.4% | 14.7 | 2.4 | 9.7% | 82 |
| WN.TO George Weston Limited | CAD 109.72 | 26.2% | 39.8 | 9.1 | 1.2% | 72 |
| KHC Kraft Heinz | USD 25.32 | 25.2% | – | 0.8 | 6.3% | 36 |
| CA.PA Carrefour SA | EUR 13.59 | 24.1% | 29.1 | 0.8 | 8.7% | 72 |
| ABF.L Associated British Foods plc | GBP 19.83 | 19.1% | 15.0 | 1.2 | 3.2% | 82 |
| ADM Archer Daniels Midland | USD 70.47 | 16.8% | 13.7 | 1.4 | 3.0% | 64 |
| AXFO.ST Axfood AB | SEK 281.90 | 8.5% | 24.8 | 8.1 | 3.1% | 70 |
| DLTR Dollar Tree | USD 137.94 | 0.3% | 16.3 | 7.7 | – | 72 |
| Peer median | 16.3 | 1.9 | ||||
Dividends
Paid in the last 12 months: USD 1.04 per share · yield 5.41% at the current price.
| Year | Dividends per share |
|---|---|
| 2026 (so far) | 0.836 |
| 2025 | 0.826 |
| 2024 | 0.810 |
| 2023 | 0.400 |
Annual financial statement
Saved annual report · Fiscal year 2025 · SEC EDGAR annual filings · period ended 28 Dec 2025
| Revenue | USD 15,124,000,000 |
|---|---|
| EBITDA | USD 2,971,000,000 |
| EBIT | USD 2,414,000,000 |
| Net income | USD 1,470,000,000 |
| Free cash flow | USD 1,722,000,000 |
| Capital expenditures | USD -475,000,000 |
| Debt | USD 1,453,000,000 |
| Cash | USD 1,062,000,000 |
| Working capital | USD -248,000,000 |
| Shares outstanding | 1,924,000,000 |
| Reported dividends per share | USD 0.8250 |