Company file · KVUE
Kenvue
Kenvue' revenue fell 2.1% in FY2025, to $15.1B, and net income rose 42.7% to $1.5B
Revenue fell 2.1% to $15.1B in FY2025, from $15.5B in FY2024. Net income rose 42.7% to $1.5B. Self Care was the largest segment, at 42% of revenue.
Key facts
Kenvue (NYSE: KVUE) reported revenue of $15.1B for fiscal 2025, the year ended Dec 28, 2025, down 2.1% from fiscal 2024. Net income was $1.5B, up 42.7%. In its latest 10-Q, for the quarter ended Sep 27, 2026, revenue was $3.9B, up 3.2% from the same quarter a year earlier, and net income was $430M. The largest piece by segment was Self Care, at 42% of fiscal 2025 revenue. Sources: 10-K for fiscal 2025 (filed Feb 20, 2026) and 10-Q for the quarter ended Sep 27, 2026 (filed Oct 30, 2026).
Source: 10-K FY2025, filed Feb 20, 2026
Source: 10-Q filed May 7, 2026 · 10-Q filed Aug 6, 2026 · 10-Q filed Oct 30, 2026
How it makes money
By segment, FY2025
- LineAmountSharevs FY2024
- Self Care$6.4B42%−2.3%
- Essential Health$4.6B31%−1.2%
- Skin Health and Beauty$4.1B27%−3.0%
Source: 10-K FY2025, XBRL breakdown
By segment in FY2025: Self Care (42%), Essential Health (31%) and Skin Health and Beauty (27%), as shares of total revenue. Total revenue was $15.1B.
Source: 10-K FY2025
By region, FY2025
Share is of the FY2025 total; the last column is the change from FY2024.
Learn more: Revenue vs. net income · Gross, operating and net margin
What changed last quarter
Comparing Q3 2026 (Jul to Sep 2026) compared with Q3 2025 (Jul to Sep 2025)
Each pair of bars shows the dollar amount for both quarters. Longer bar, more money. Bars in a group share one scale.
Q3 2026Q3 2025
Company
Source: Kenvue 10-Q for the quarter ended Sep 27, 2026, filed Oct 30, 2026
By segment
Source: Kenvue 10-Q for the quarter ended Sep 27, 2026, filed Oct 30, 2026
The bull case and the bear case
The bull case
- Net income rose 42.7% in FY2025 to $1.5B, from $1.0B. 10-K, FY2025
- Operating cash flow rose 24.2% in FY2025 to $2.2B. 10-K, FY2025
- Revenue in the quarter ended Sep 27, 2026 was $3.9B, up 3.2% on a year earlier. 10-Q, quarter ended Sep 27, 2026
- Net income in the quarter ended Sep 27, 2026 was $430M, up 8.0% on a year earlier. 10-Q, quarter ended Sep 27, 2026
The bear case
- Revenue fell 2.1% in FY2025 to $15.1B, from $15.5B a year earlier. 10-K, FY2025
- Skin Health and Beauty revenue fell 3.0% in FY2025 to $4.1B. 10-K, FY2025
- Asia Pacific revenue fell 6.7% in FY2025 to $2.8B. 10-K, FY2025
What optimists and skeptics tend to point to, each tied to a filing. Ticker Sage doesn't pick a side, and neither list is a reason to buy or sell.
What the company does
Kenvue is in the personal care products industry, part of the consumer staples sector. The SEC files it under Perfumes, Cosmetics & Other Toilet Preparations.
Kenvue reports 3 segments: Self Care, Essential Health and Skin Health and Beauty.
Its latest fiscal year, FY2025, ended Dec 28, 2025.
Source: 10-K, Item 1 Business
Risks common in this industry
These are general risks for companies in the personal care products industry. They are not a summary of Kenvue’s own risk factors; for those, read Item 1A of its latest 10-K, linked below.
- Economic cyclesDemand for equipment and services rises and falls with business investment.
- Costs and supplyMaterial, labor and supplier problems can raise costs or delay delivery.
- Trade and tariffsTariffs and trade policy affect costs and sales.
- Contracts and backlogLarge projects and government contracts can be delayed, cut or repriced.
- Regulation and liabilitySafety, environmental and product-liability rules can raise costs.
Source: 10-K, Item 1A Risk Factors (the company's own list, in the company's words)
Three years of key numbers
Every number links to its filing; hover for the XBRL tag. A dash means the number isn't cleanly available, and we don't estimate it.
| US$ | FY2023 | FY2024 | FY2025 |
|---|---|---|---|
| Revenue | $15.4B | $15.5B | $15.1B |
| Net income | $1.7B | $1.0B | $1.5B |
| Operating cash flow | $3.2B | $1.8B | $2.2B |
| Cash & equivalents (year end) | $1.4B | $1.1B | $1.1B |
| Diluted shares | 1.85B | 1.92B | 1.92B |
- Revenue: Total revenue for the fiscal year, as the company reports it on its income statement.
- Net income: Net income attributable to the company's shareholders, after all costs, interest and taxes.
- Operating cash flow: Cash the business brought in from its day-to-day operations during the year (cash flow statement).
- Cash & equivalents: Cash and short-term investments that count as cash equivalents on the balance sheet. Excludes longer-dated marketable securities.
- Diluted shares: Weighted average shares outstanding for the year, including the effect of options and stock awards.
Learn more: How to read an income statement · Earnings per share, basic and diluted · Free cash flow · How to read a balance sheet · Growth rate calculator · P/E calculator · Market cap calculator · Free cash flow calculator · Return on equity and assets calculator
Explainers for this page
- Segment reporting
- Risk factors (Item 1A)
- The cash flow statement
- Remaining performance obligations (RPO)
- Debt-to-equity ratio
- Circuit breakers and limit up-limit down
- Noncash investing and financing
Plain-English guides to terms this file uses, with real numbers from filings.
About these numbers
- Kenvue names its fiscal year by the calendar year in which it ends, so FY2025 is the year that ended Dec 28, 2025.
What we left out
- Total debt: the company's filing data doesn't carry a consistent debt total for the years shown, so it isn't shown.
Recent filings
| Form | Filed | Period |
|---|---|---|
| 10-Q | Oct 30, 2026 | Sep 27, 2026 |
| 10-Q | Aug 6, 2026 | Jun 28, 2026 |
| 10-Q | May 7, 2026 | Mar 29, 2026 |
| DEF 14A | Apr 8, 2026 | Dec 28, 2025 |
| 10-K | Feb 20, 2026 | Dec 28, 2025 |
Learn more: 10-K vs. 10-Q vs. 8-K · Form 4 insider filings · Fiscal years and quarters
Common questions about Kenvue
How does Kenvue make money?
Kenvue's revenue was $15.1B in fiscal 2025. By segment in FY2025: Self Care (42%), Essential Health (31%) and Skin Health and Beauty (27%), as shares of total revenue. Total revenue was $15.1B. Source: 10-K for fiscal 2025, filed Feb 20, 2026.
What was Kenvue's revenue in fiscal 2025?
$15.1B of revenue for the fiscal year ended Dec 28, 2025, down 2.1% from $15.5B in fiscal 2024. Fiscal 2023 was $15.4B. Source: 10-K for fiscal 2025, filed Feb 20, 2026.
Is Kenvue profitable?
Kenvue reported net income of $1.5B for fiscal 2025, up 42.7% from $1.0B in fiscal 2024. That is a profit under US accounting rules (GAAP). In the quarter ended Sep 27, 2026, net income was $430M. The page's About these numbers section explains what is included. Source: 10-K for fiscal 2025, filed Feb 20, 2026.
What did Kenvue report in its latest quarterly filing?
Revenue was $3.9B in the quarter ended Sep 27, 2026, up 3.2% from $3.8B a year earlier. Net income was $430M, up 8.0% from $398M. Source: 10-Q for the quarter ended Sep 27, 2026, filed Oct 30, 2026.
What are the main risks Kenvue faces?
Kenvue's own risk factors are in Item 1A of its 10-K for fiscal 2025, filed Feb 20, 2026. Risks that are common among companies in the personal care products industry include Economic cycles; costs and supply; trade and tariffs; contracts and backlog; regulation and liability. The first: Demand for equipment and services rises and falls with business investment. Source: 10-K, Item 1A Risk Factors.
Where do these Kenvue numbers come from?
From Kenvue's own SEC filings: the 10-K for fiscal 2025 (filed Feb 20, 2026) and the 10-Q for the quarter ended Sep 27, 2026 (filed Oct 30, 2026), read through the SEC's public XBRL data. Each number on this page links to its filing. Methodology explains how fiscal years and missing numbers are handled.
Tracked funds that report owning Kenvue
- Millennium Management: 36,939,026 shares, reported value $705.9M at Jun 30, 2026 (+16.2% in shares since the filing for Mar 31, 2026). Form 13F filed Aug 14, 2026.
- Starboard Value: 27,307,632 shares, reported value $521.8M at Jun 30, 2026 (same number of shares as in the filing for Mar 31, 2026). Form 13F filed Aug 14, 2026.
- Citadel Advisors: 11,960,749 shares, reported value $228.6M at Jun 30, 2026 (+10.5% in shares since the filing for Mar 31, 2026). Form 13F filed Sep 2, 2026.
- Renaissance Technologies: 9,024,812 shares, reported value $172.5M at Jun 30, 2026 (+117.9% in shares since the filing for Mar 31, 2026). Form 13F filed Aug 13, 2026.
- Soros Fund Management: 2,746,636 shares, reported value $52.5M at Jun 30, 2026 (−13.0% in shares since the filing for Mar 31, 2026). Form 13F filed Aug 14, 2026.
- Point72 Asset Management: 808,029 shares, reported value $15.4M at Jun 30, 2026 (+75.2% in shares since the filing for Mar 31, 2026). Form 13F filed Aug 14, 2026.
- Bridgewater Associates: 311,241 shares, reported value $5.9M at Jun 30, 2026 (+149.1% in shares since the filing for Mar 31, 2026). Form 13F filed Aug 14, 2026.
- Two Sigma Investments: 187,937 shares, reported value $3.6M at Jun 30, 2026 (new in this filing). Form 13F filed Aug 14, 2026.
- Maverick Capital: 173,991 shares, reported value $3.3M at Jun 30, 2026 (+89.1% in shares since the filing for Mar 31, 2026). Form 13F filed Aug 14, 2026.
From each fund’s latest Form 13F, which is filed up to 45 days after quarter end and lists long positions in US-listed stocks only. A listing here is a fact about a filing, not a view on the stock. What a 13F does and doesn’t show.
Disclosures
- Editor holdings in KVUE
- The editor holds no position in Kenvue (KVUE). As of Nov 11, 2026.
- Trading rule
- The editor does not buy or sell KVUE from 3 days before to 3 days after this page is published or substantively updated.
- Compensation
- Nobody paid for this page. No affiliate links on this page.
- Sources
- The company's SEC filings, linked next to each number or, for charts, in the source line under them.
- Last updated
- Nov 9, 2026
General education, the same for every reader. Not a recommendation to buy, sell or hold KVUE, and it doesn't consider your situation.
Compare with peers
| Company | Fiscal year | Revenue | Revenue growth | Net income |
|---|---|---|---|---|
| KenvueKVUE | FY2025 | $15.1B | −2.1% | $1.5B |
| Procter & GamblePG | FY2026 | $87.0B | +3.3% | $16.0B |
| Estée Lauder CompaniesEL | FY2026 | $15.0B | +5.0% | $182M |
| WalmartWMT | FY2026 | $713.2B | +4.7% | $21.9B |
Each row is that company’s latest fiscal year from its own 10-K, using its own revenue and net income lines. Fiscal years end in different months, and line definitions differ (banks, insurers and oil companies count revenue differently), so this is a rough side-by-side, not a like-for-like comparison.
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New to filings? Learn has plain-English explainers and Tools has calculators. Methodology & Disclosures covers where every number comes from.