Financials Kenvue Inc.

Equities

KVUE

US49177J1025

Personal Products

Market Closed - Nyse Other stock markets 04:00:02 2024-05-08 pm EDT			5-day change	1st Jan Change
20.45 ^USD	+1.84%		+8.49%	-5.02%

May. 08	HSBC Adjusts Price Target on Kenvue to $21 From $20	MT
May. 07	Health Care Up Amid Mixed Earnings - Health Care Roundup	DJ

Valuation

Fiscal Period: December	2023	2024	2025	2026
Capitalization ¹	41,230	39,155	-	-
Enterprise Value (EV) ¹	48,130	45,959	45,585	44,804
P/E ratio	23.9 x	21.6 x	18.4 x	17.7 x
Yield	1.86%	3.75%	4%	4.18%
Capitalization / Revenue	2.67 x	2.5 x	2.41 x	2.34 x
EV / Revenue	3.12 x	2.93 x	2.81 x	2.68 x
EV / EBITDA	13 x	12.4 x	11.5 x	10.6 x
EV / FCF	17.8 x	24.4 x	19 x	16.5 x
FCF Yield	5.61%	4.1%	5.27%	6.06%
Price to Book	3.68 x	3.49 x	3.33 x	3.11 x
Nbr of stocks (in thousands)	1,914,995	1,914,648	-	-
Reference price ²	21.53	20.45	20.45	20.45
Announcement Date	2/8/24	-	-	-

¹USD in Million²USD

Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December	2022	2023	2024	2025	2026
Net sales ¹	14,950	15,444	15,674	16,215	16,723
EBITDA ¹	-	3,697	3,714	3,979	4,223
EBIT ¹	-	3,457	3,369	3,547	3,674
Operating Margin	-	22.38%	21.5%	21.87%	21.97%
Earnings before Tax (EBT) ¹	-	2,190	2,447	2,802	2,933
Net income ¹	2,087	1,664	1,837	2,130	2,211
Net margin	13.96%	10.77%	11.72%	13.14%	13.22%
EPS ²	-	0.9000	0.9453	1.110	1.156
Free Cash Flow ¹	-	2,700	1,886	2,404	2,715
FCF margin	-	17.48%	12.03%	14.83%	16.24%
FCF Conversion (EBITDA)	-	73.03%	50.79%	60.42%	64.29%
FCF Conversion (Net income)	-	162.26%	102.66%	112.85%	122.79%
Dividend per Share ²	-	0.4000	0.7662	0.8187	0.8550
Announcement Date	3/3/23	2/8/24	-	-	-

¹USD in Million²USD

Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December	2023 Q2	2023 Q3	2023 Q4	2024 Q1	2024 Q2	2024 Q3	2024 Q4	2025 Q1
Net sales ¹	4,011	3,915	3,666	3,894	3,975	4,006	3,832	4,037
EBITDA ¹	983	961	886	933	952.2	989.8	924.1	1,018
EBIT ¹	885	914	799	855	850.2	879.8	820.6	882.3
Operating Margin	22.06%	23.35%	21.79%	21.96%	21.39%	21.96%	21.41%	21.85%
Earnings before Tax (EBT) ¹	639	585	357	427	611.4	609.2	570.2	645
Net income ¹	430	438	327	296	463.7	473.8	451.8	547.8
Net margin	10.72%	11.19%	8.92%	7.6%	11.67%	11.83%	11.79%	13.57%
EPS ²	0.2300	0.2300	0.1700	0.1500	0.2534	0.2658	0.2493	0.2728
Dividend per Share ²	-	0.2000	0.2000	0.2001	0.2001	0.1982	0.1919	0.1848
Announcement Date	7/20/23	10/26/23	2/8/24	5/7/24	-	-	-	-

¹USD in Million²USD

Estimates

Balance Sheet Analysis

Fiscal Period: December	2022	2023	2024	2025	2026
Net Debt ¹	-	6,900	6,805	6,430	5,650
Net Cash position ¹	-	-	-	-	-
Leverage (Debt/EBITDA)	-	1.866 x	1.832 x	1.616 x	1.338 x
Free Cash Flow ¹	-	2,700	1,886	2,404	2,715
ROE (net income / shareholders' equity)	-	15.3%	17.4%	19.3%	20%
ROA (Net income/ Total Assets)	-	8.64%	6.22%	7.5%	8.28%
Assets ¹	-	19,261	29,517	28,388	26,715
Book Value Per Share ²	-	5.850	5.870	6.150	6.580
Cash Flow per Share ²	-	1.730	1.170	1.510	1.650
Capex ¹	-	500	472	489	485
Capex / Sales	-	3.24%	3.01%	3.01%	2.9%
Announcement Date	3/3/23	2/8/24	-	-	-

¹USD in Million²USD

Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Ratings for Kenvue Inc.

Trading Rating

Investor Rating

ESG Refinitiv

More Ratings

Analysts' Consensus

Sell

Buy

Mean consensus

OUTPERFORM

Number of Analysts

Last Close Price

20.45 USD

Average target price

22.47 USD

Spread / Average Target

+9.86%

Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

Company calendar

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