Is the business good?
How good a business is KVUE?
Kenvue earns 13% on the capital it employs against a 9.0% cost of capital, so the business is worth more the bigger it gets.
13%
Return on invested capital · cost of capital 9.0% · 3.6 points above what the capital costs: growth creates value
- Operating margin
- 17%
Operating margin · Household & Personal Products median 15% · 12 months to Q2 2026
- Cash conversion
- 1.15×
Cash conversion · 1.15× a year ago · every dollar of reported profit arrived as cash, and more
- Share count, year on year
- −0.26%
Share count, year on year · flat: no meaningful dilution
| Year | Operating margin |
|---|---|
| FY2021 | 19% |
| FY2022 | 18% |
| FY2023 | 16% |
| FY2024 | 12% |
| FY2025 | 16% |
Details›
- Gross margin12 months to Q2 2026
- 58%
- Operating margin12 months to Q2 2026
- 17%
- Net margin12 months to Q2 2026
- 11%
- Free cash flow margin
- 12%
- R&D as % of revenue
- 2.4%
- Revenue, trailing twelve months
- $15.4B
- Free cash flow, trailing twelve months
- $1.91B
- Net income, trailing twelve months
- $1.66B
- Return on invested capitaloperating profit after tax ÷ debt + equity − cash
- 13%
Margins, capital and share counts from the statements as filed with the SEC; cash conversion from the cash flow statement.
Household & Personal Products
Ranks #4 of 13 by Smart Score