Forecast

Financial forecast

Project revenue, EBITDA, net income and free cash flow for the next 5 or 10 years. Growth starts at the same rate the valuation uses and fades to the long-run rate, with margins held at today's level. Bear and bull cases move growth by the company's own revenue volatility. It is a model of what the assumptions imply, not a prediction.

Kimberly-Clark (KMB)

Price updated 06 Nov 2026 14:48; TTM through 30 Jun 2026; TTM financials updated 06 Nov 2026 14:12.

Starts from TTM through 30 Jun 2026 financials in USD and a share price of USD 107.61. Growth begins at 2.0% a year (the valuation's blended assumption) and fades to 2.4% by year 10. Margins held at EBITDA 19.2%, net 11.8%, free cash flow 15.5% of revenue. Bear and bull move starting growth by 6.0 points and long-run growth by 1 point.

Year 1 uses analyst consensus revenue growth (2.5%); year 2 is halfway back to the model's own path.
USD 97.04Model fair value (Free-cash-flow DCF); range USD 66.77 to USD 153.28
-10%Fair value vs today's price
LowModel confidence
25%Share of the gap to fair value the price closes by year 5

Confidence: Earnings-based DCF is somewhat apart; trailing-twelve-month data; profit and cash flow steady for 3 years; value is more than 1.5x the Earnings-based DCF value.

5.8%/yrModel-implied annual total return over 10 years, base case (price plus dividends). Raw model level; the screener shows a calibrated ranking instead
USD 20.72BRevenue in year 10 (base)
USD 2.45BNet income in year 10 (base)
USD 3.20BFree cash flow in year 10 (base)
USD 6.30Dividend per share in year 10 (base)
USD 131.32Implied share price in year 10 (base), today USD 107.61
8.9%Year-10 free cash flow per share vs today's price

Free cash flow over time

USD 0 USD 1.12B USD 2.25B USD 3.37B USD 4.49B FY2021 FY2023 FY2025 TTM through 30 Jun 2026 +1 +3 +5 +7 +9 +10
Solid: reported Dashed: base projection Shaded: bear to bull range
Free cash flow in year 10 by scenario
CaseStarting growthYear 10Annual growth
Bear -3.6% USD 2.25B -1.3%
Base 2.5% USD 3.20B 2.3%
Bull 8.5% USD 4.49B 5.8%

Base case by year

YearGrowthRevenueEBITDANet incomeFree cash flowEPSFCF / shareDividend / shareBook / shareImplied price
TTM through 30 Jun 2026– USD 16.57BUSD 3.19BUSD 1.96BUSD 2.56B 5.877.685.045.25107.61
Year 12.5% USD 16.97BUSD 3.27BUSD 2.00BUSD 2.62B 6.017.875.166.10109.71
Year 22.2% USD 17.35BUSD 3.34BUSD 2.05BUSD 2.68B 6.148.055.286.97111.62
Year 32.1% USD 17.71BUSD 3.41BUSD 2.09BUSD 2.74B 6.278.225.397.85113.38
Year 42.1% USD 18.09BUSD 3.48BUSD 2.14BUSD 2.80B 6.418.395.508.76115.23
Year 52.2% USD 18.49BUSD 3.56BUSD 2.18BUSD 2.86B 6.558.585.629.68117.15
Year 62.2% USD 18.90BUSD 3.64BUSD 2.23BUSD 2.92B 6.698.775.7510.63119.75
Year 72.3% USD 19.33BUSD 3.72BUSD 2.28BUSD 2.99B 6.848.965.8811.59122.46
Year 82.3% USD 19.77BUSD 3.81BUSD 2.33BUSD 3.06B 7.009.176.0112.58125.29
Year 92.4% USD 20.24BUSD 3.89BUSD 2.39BUSD 3.13B 7.179.396.1513.59128.24
Year 102.4% USD 20.72BUSD 3.99BUSD 2.45BUSD 3.20B 7.349.616.3014.63131.32

EPS and free cash flow per share assume today's share count. Dividends assume today's payout ratio and book value grows with retained earnings. The implied share price follows the valuation models and is not a price target; override growth settings do not change the model fair value. Margins stay at today's level except where the notes say they drift toward their average, so it does not model margin expansion, buybacks, acquisitions or recessions. It is for information and education only and is not investment advice. See the methodology for how the growth rate is blended.