Cash flow Kenvue Inc.

Equities

KVUE

US49177J1025

Personal Products

Market Closed - Nyse Other stock markets 04:00:02 2024-12-13 pm EST			5-day change	1st Jan Change
22.21 ^USD	-0.49%		-2.76%	+3.16%

Dec. 12	Barclays Initiates Kenvue at Equalweight With $23 Price Target	MT
Dec. 12	Deutsche Bank Downgrades Kenvue to Hold From Buy, Adjusts Price Target to $24 From $25	MT

85db92e9f6d054bf.D_vPq8jFVq0hl59wN0rbr9L3Pd6LzXCDMB9StLK3PAs.XqynhoeND8R309s-VCDs3oueYonUlzLUB0A0_oGDTGh9urb6rvY-3HT01g

Published financial data: KENVUE INC.

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2019	2020	2021	2022	2023
Revenues	14.32B	14.47B	15.05B	14.95B	15.44B
Total Revenues	14.32B	14.47B	15.05B	14.95B	15.44B
Cost of Goods Sold, Total	6.63B	6.58B	6.59B	6.61B	6.8B
Gross Profit	7.69B	7.88B	8.47B	8.34B	8.64B
Selling General & Admin Expenses, Total	5.15B	4.91B	5.42B	5.38B	5.68B
Other Operating Expenses	-31M	-80M	-78M	-28M	18M
Other Operating Expenses, Total	5.12B	4.83B	5.34B	5.35B	5.7B
Operating Income	2.57B	3.05B	3.13B	2.99B	2.94B
Interest Expense, Total	-	-	-	-	-358M
Interest And Investment Income	-	-	-	-	108M
Net Interest Expenses	-	-	-	-	-250M
Currency Exchange Gains (Loss)	-60M	-40M	-20M	-42M	-58M
Other Non Operating Income (Expenses)	59M	3M	25M	11M	-5M
EBT, Excl. Unusual Items	2.57B	3.02B	3.13B	2.96B	2.63B
Restructuring Charges	-122M	-66M	-117M	-100M	-
Gain (Loss) On Sale Of Investments	275M	-	-	-	-
Gain (Loss) On Sale Of Assets	-	-	-	-	9M
Asset Writedown	-51M	-	-	-12M	-
Legal Settlements	-553M	-3.97B	-92M	7M	-26M
Other Unusual Items	-	-	-	-213M	-423M
EBT, Incl. Unusual Items	2.12B	-1.02B	2.92B	2.64B	2.19B
Income Tax Expense	685M	-137M	894M	550M	526M
Earnings From Continuing Operations	1.44B	-879M	2.03B	2.09B	1.66B
Net Income to Company	1.44B	-879M	2.03B	2.09B	1.66B
Net Income - (IS)	1.44B	-879M	2.03B	2.09B	1.66B
Net Income to Common Incl Extra Items	1.44B	-879M	2.03B	2.09B	1.66B
Net Income to Common Excl. Extra Items	1.44B	-879M	2.03B	2.09B	1.66B
Per Share Items
Net EPS - Basic	-	-	-	-	0.9
Basic EPS - Continuing Operations	-	-	-	-	0.9
Basic Weighted Average Shares Outstanding	-	-	-	-	1.85B
Net EPS - Diluted	-	-	-	-	0.9
Diluted EPS - Continuing Operations	-	-	-	-	0.9
Diluted Weighted Average Shares Outstanding	-	-	-	-	1.85B
Normalized Basic EPS	-	-	-	-	0.89
Normalized Diluted EPS	-	-	-	-	0.89
Dividend Per Share	-	-	-	-	0.4
Payout Ratio	-	-	-	-	874.64
Supplemental Items
EBITDA	3.28B	3.8B	3.86B	3.63B	3.57B
EBITA	2.92B	3.47B	3.54B	3.33B	3.26B
EBIT	2.57B	3.05B	3.13B	2.99B	2.94B
EBITDAR	3.35B	4.02B	4.04B	3.78B	3.62B
Effective Tax Rate - (Ratio)	32.31	13.48	30.56	20.86	24.02
Current Domestic Taxes	264M	308M	8M	75M	266M
Current Foreign Taxes	324M	356M	318M	318M	374M
Total Current Taxes	588M	664M	326M	393M	640M
Deferred Domestic Taxes	204M	-741M	627M	205M	-39M
Deferred Foreign Taxes	-107M	-60M	-59M	-48M	-75M
Total Deferred Taxes	97M	-801M	568M	157M	-114M
Normalized Net Income	1.61B	1.89B	1.96B	1.85B	1.64B
Interest on Long-Term Debt	-	-	-	-	338M
Non-Cash Pension Expense	-	-	-	7M	9M
Supplemental Operating Expense Items
Advertising Expense	1.26B	1.16B	1.38B	1.36B	1.35B
Selling and Marketing Expenses	1.26B	1.16B	1.38B	1.36B	1.35B
Research And Development Expense From Footnotes	391M	320M	355M	375M	399M
Net Rental Expense, Total	68M	219M	180M	152M	48M
Imputed Operating Lease Interest Expense	-	-	-	-	32.18M
Imputed Operating Lease Depreciation	-	-	-	-	15.82M
Stock-Based Comp., COGS (Total)	-	-	-	30M	67M
Stock-Based Comp., SG&A Exp. (Total)	-	-	-	107M	121M
Stock-Based Comp., Other (Total)	102M	115M	141M	-	-
Total Stock-Based Compensation	102M	115M	141M	137M	188M

Fiscal Period: December	2019	2020	2021	2022	2023
Assets
Cash And Equivalents	-	618M	740M	1.23B	1.38B
Total Cash And Short Term Investments	-	618M	740M	1.23B	1.38B
Accounts Receivable, Total	-	1.86B	2.07B	2.12B	2.07B
Total Receivables	-	1.86B	2.07B	2.12B	2.07B
Inventory	-	1.68B	1.7B	2.23B	1.85B
Prepaid Expenses	-	272M	257M	161M	549M
Other Current Assets, Total	-	162M	154M	137M	283M
Total Current Assets	-	4.6B	4.93B	5.88B	6.14B
Gross Property Plant And Equipment	-	4.68B	4.47B	5.7B	6.38B
Accumulated Depreciation	-	-4.01B	-3.94B	-3.88B	-4.2B
Net Property Plant And Equipment	-	670M	524M	1.82B	2.18B
Long-term Investments	-	-	-	66M	71M
Goodwill	-	10.33B	9.81B	9.18B	9.27B
Other Intangibles, Total	-	12.9B	12B	9.85B	9.62B
Deferred Tax Assets Long-Term	-	193M	189M	147M	158M
Other Long-Term Assets, Total	-	496M	475M	368M	413M
Total Assets	-	29.18B	27.93B	27.32B	27.85B
Liabilities
Accounts Payable, Total	-	1.58B	1.83B	1.83B	2.49B
Accrued Expenses, Total	-	5.52B	1.81B	1.73B	2.21B
Short-term Borrowings	-	-	-	-	599M
Current Portion of Leases	-	-	49M	35M	44M
Current Income Taxes Payable	-	393M	357M	329M	142M
Total Current Liabilities	-	7.49B	4.04B	3.93B	5.48B
Long-Term Debt	-	-	-	-	7.69B
Long-Term Leases	-	160M	80M	81M	97M
Pension & Other Post Retirement Benefits	-	-	302M	214M	360M
Deferred Tax Liability Non Current	-	1.76B	2.43B	2.43B	2.62B
Other Non Current Liabilities	-	1.41B	676M	646M	394M
Total Liabilities	-	10.82B	7.53B	7.3B	16.64B
Common Stock, Total	-	21.93B	24.87B	25.47B	19M
Additional Paid In Capital	-	-	-	-	16.15B
Retained Earnings	-	-	-	-	429M
Treasury Stock	-	-	-	-	-7M
Comprehensive Income and Other	-	-3.57B	-4.47B	-5.45B	-5.38B
Total Common Equity	-	18.36B	20.4B	20.02B	11.21B
Total Equity	-	18.36B	20.4B	20.02B	11.21B
Total Liabilities And Equity	-	29.18B	27.93B	27.32B	27.85B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	-	-	-	-	1.91B
ECS Total Common Shares Outstanding	-	-	-	-	1.92B
Book Value / Share	-	-	-	-	5.85
Tangible Book Value	-	-4.87B	-1.42B	983M	-7.68B
Tangible Book Value Per Share	-	-	-	-	-4.01
Total Debt	-	160M	129M	116M	8.43B
Net Debt	-	-458M	-611M	-1.12B	7.04B
Debt Equivalent of Unfunded Proj. Benefit Obligation	-	-	-	216M	294M
Debt Equivalent Oper. Leases	544M	1.75B	1.44B	1.22B	384M
Account Code - Inventory Valuation	-	-	5	5	5
Inventories - Raw Materials, Total	-	238M	264M	351M	304M
Inventories - Work In Process, Total	-	87M	99M	123M	115M
Inventories - Finished Goods, Total	-	1.36B	1.34B	1.75B	1.43B
Land - (BS)	-	86M	79M	75M	76M
Buildings, Total	-	1.79B	1.74B	1.71B	1.75B
Machinery, Total	-	2.58B	2.42B	2.28B	2.45B
Full Time Employees	-	-	20K	22.2K	22K
Accumulated Allowance for Doubtful Accounts (Supple)	-	37M	32M	35M	25M

Fiscal Period: December	2019	2020	2021	2022	2023
Net Income	1.44B	-879M	2.03B	2.09B	1.66B
Depreciation & Amortization - CF	365M	331M	317M	296M	305M
Amortization of Goodwill and Intangible Assets - (CF)	344M	415M	414M	348M	322M
Depreciation & Amortization, Total	709M	746M	731M	644M	627M
(Gain) Loss From Sale Of Asset	-	-	-	4M	-
(Gain) Loss on Sale of Investments - (CF)	-275M	-	-	-	-
Asset Writedown & Restructuring Costs	113M	-35M	-9M	-	-
Stock-Based Compensation (CF)	102M	115M	141M	137M	188M
Provision and Write-off of Bad Debts	13M	9M	4M	9M	-
Other Operating Activities, Total	97M	-801M	568M	157M	-108M
Change In Accounts Receivable	40M	265M	-303M	-142M	44M
Change In Inventories	180M	109M	-77M	-582M	349M
Change In Accounts Payable	3M	154M	330M	52M	390M
Change In Income Taxes	162M	-96M	-19M	-5M	-331M
Change in Other Net Operating Assets	419M	3.81B	-3.06B	164M	345M
Cash from Operations	3B	3.4B	334M	2.52B	3.17B
Capital Expenditure	-289M	-229M	-295M	-393M	-469M
Sale of Property, Plant, and Equipment	83M	176M	59M	-	21M
Cash Acquisitions	-1.93B	-	-	-	-
Investment in Marketable and Equity Securities, Total	-20M	-30M	65M	3M	-
Other Investing Activities, Total	-	-	-	-	-40M
Cash from Investing	-2.16B	-83M	-171M	-390M	-488M
Short Term Debt Issued, Total	-	-	-	-	574M
Long-Term Debt Issued, Total	-	-	-	14M	7.69B
Total Debt Issued	-	-	-	14M	8.26B
Short Term Debt Repaid, Total	-	-	-	-	-14M
Long-Term Debt Repaid, Total	-40M	-11M	-7M	-	-
Total Debt Repaid	-40M	-11M	-7M	-	-14M
Issuance of Common Stock	-	-	-	-	4.24B
Common Dividends Paid	-	-	-	-	-14.55B
Common & Preferred Stock Dividends Paid	-	-	-	-	-14.55B
Other Financing Activities, Total	-645M	-3.45B	7M	-1.6B	-460M
Cash from Financing	-685M	-3.46B	0	-1.58B	-2.53B
Foreign Exchange Rate Adjustments	-11M	9M	-41M	-61M	-2M
Net Change in Cash	147M	-134M	122M	491M	151M
Supplemental Items
Cash Interest Paid	-	-	-	-	224M
Cash Income Tax Paid (Refund)	284M	448M	363M	316M	699M
Levered Free Cash Flow	-	-	-1.18B	1.69B	2.8B
Unlevered Free Cash Flow	-	-	-1.18B	1.69B	3.02B
Change In Net Working Capital	-	-	3.71B	563M	-837M
Net Debt Issued / Repaid	-40M	-11M	-7M	14M	8.25B

Fiscal Period: December	2019	2020	2021	2022	2023
Profitability
Return on Assets	-	-	6.85	6.76	6.67
Return on Total Capital	-	-	10.02	9.18	9.26
Return On Equity %	-	-	10.48	10.33	10.67
Return on Common Equity	-	-	10.48	10.33	10.67
Margin Analysis
Gross Profit Margin %	53.69	54.48	56.24	55.79	55.96
SG&A Margin	35.95	33.93	35.98	36	36.79
EBITDA Margin %	22.91	26.27	25.64	24.28	23.12
EBITA Margin %	20.36	23.98	23.54	22.3	21.14
EBIT Margin %	17.96	21.11	20.79	19.97	19.06
Income From Continuing Operations Margin %	10.02	-6.08	13.49	13.96	10.77
Net Income Margin %	10.02	-6.08	13.49	13.96	10.77
Net Avail. For Common Margin %	10.02	-6.08	13.49	13.96	10.77
Normalized Net Income Margin	11.22	13.03	13.01	12.35	10.64
Levered Free Cash Flow Margin	-	-	-7.83	11.31	18.12
Unlevered Free Cash Flow Margin	-	-	-7.83	11.31	19.57
Asset Turnover
Asset Turnover	-	-	0.53	0.54	0.56
Fixed Assets Turnover	-	-	25.22	8.2	7.51
Receivables Turnover (Average Receivables)	-	-	7.66	7.13	7.36
Inventory Turnover (Average Inventory)	-	-	3.89	3.37	3.34
Short Term Liquidity
Current Ratio	-	0.61	1.22	1.5	1.12
Quick Ratio	-	0.33	0.7	0.85	0.63
Operating Cash Flow to Current Liabilities	-	0.45	0.08	0.64	0.58
Days Sales Outstanding (Average Receivables)	-	-	47.54	51.08	49.44
Days Outstanding Inventory (Average Inventory)	-	-	93.58	108.15	109.1
Average Days Payable Outstanding	-	-	93.87	93.27	122.3
Cash Conversion Cycle (Average Days)	-	-	47.25	65.96	36.24
Long Term Solvency
Total Debt/Equity	-	0.87	0.63	0.58	75.17
Total Debt / Total Capital	-	0.86	0.63	0.58	42.91
LT Debt/Equity	-	0.87	0.39	0.4	69.43
Long-Term Debt / Total Capital	-	0.86	0.39	0.4	39.64
Total Liabilities / Total Assets	-	37.09	26.96	26.71	59.75
EBIT / Interest Expense	-	-	-	-	8.22
EBITDA / Interest Expense	-	-	-	-	10.11
(EBITDA - Capex) / Interest Expense	-	-	-	-	8.8
Total Debt / EBITDA	-	0.04	0.03	0.03	2.33
Net Debt / EBITDA	-	-0.11	-0.15	-0.29	1.95
Total Debt / (EBITDA - Capex)	-	0.04	0.03	0.03	2.68
Net Debt / (EBITDA - Capex)	-	-0.12	-0.16	-0.33	2.24
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	-	1	4.06	-0.69	3.3
Gross Profit, 1 Yr. Growth %	-	2.48	7.42	-1.5	3.63
EBITDA, 1 Yr. Growth %	-	15.82	1.58	-5.74	-1.87
EBITA, 1 Yr. Growth %	-	18.96	2.13	-5.66	-2.3
EBIT, 1 Yr. Growth %	-	18.74	2.46	-4.29	-1.7
Earnings From Cont. Operations, 1 Yr. Growth %	-	-161.25	-331.06	2.76	-19.38
Net Income, 1 Yr. Growth %	-	-161.25	-331.06	2.76	-19.38
Normalized Net Income, 1 Yr. Growth %	-	17.35	3.88	-5.71	-11.24
Diluted EPS Before Extra, 1 Yr. Growth %	-	-	-	-	-25
Accounts Receivable, 1 Yr. Growth %	-	-	11.63	2.31	-2.31
Inventory, 1 Yr. Growth %	-	-	1.01	30.79	-16.85
Net Property, Plant and Equip., 1 Yr. Growth %	-	-	-21.79	-0.38	13.01
Total Assets, 1 Yr. Growth %	-	-	-4.28	-2.19	1.96
Tangible Book Value, 1 Yr. Growth %	-	-	-70.93	-977.68	-923.93
Common Equity, 1 Yr. Growth %	-	-	11.13	-1.85	-43.86
Cash From Operations, 1 Yr. Growth %	-	13.31	-90.17	655.99	25.47
Capital Expenditures, 1 Yr. Growth %	-	-20.76	28.82	33.22	25.07
Levered Free Cash Flow, 1 Yr. Growth %	-	-	-	-243.08	63.26
Unlevered Free Cash Flow, 1 Yr. Growth %	-	-	-	-243.08	76.31
Compound Annual Growth Rate Over Two Years
Total Revenues, 2 Yr. CAGR %	-	-	2.52	1.66	1.29
Gross Profit, 2 Yr. CAGR %	-	-	4.92	2.86	1.03
EBITDA, 2 Yr. CAGR %	-	-	8.47	-2.16	-4
EBITA, 2 Yr. CAGR %	-	-	10.23	-1.85	-4.19
EBIT, 2 Yr. CAGR %	-	-	10.3	-0.99	-3.23
Earnings From Cont. Operations, 2 Yr. CAGR %	-	-	18.97	54.09	-10.51
Net Income, 2 Yr. CAGR %	-	-	18.97	54.09	-10.51
Normalized Net Income, 2 Yr. CAGR %	-	-	10.41	-1.03	-8.71
Diluted EPS Before Extra, 2 Yr. CAGR %	-	-	-	-	-13.76
Accounts Receivable, 2 Yr. CAGR %	-	-	-	6.87	-0.02
Inventory, 2 Yr. CAGR %	-	-	-	14.94	4.29
Net Property, Plant and Equip., 2 Yr. CAGR %	-	-	-	64.82	9.26
Total Assets, 2 Yr. CAGR %	-	-	-	-3.24	-0.14
Tangible Book Value, 2 Yr. CAGR %	-	-	-	-55.06	728.02
Common Equity, 2 Yr. CAGR %	-	-	-	4.44	-25.87
Cash From Operations, 2 Yr. CAGR %	-	-	-66.62	-13.78	207.98
Capital Expenditures, 2 Yr. CAGR %	-	-	1.03	31	26.09
Levered Free Cash Flow, 2 Yr. CAGR %	-	-	-	-	54.82
Unlevered Free Cash Flow, 2 Yr. CAGR %	-	-	-	-	60.89
Compound Annual Growth Rate Over Three Years
Total Revenues, 3 Yr. CAGR %	-	-	-	1.44	2.2
Gross Profit, 3 Yr. CAGR %	-	-	-	2.74	3.12
EBITDA, 3 Yr. CAGR %	-	-	-	3.43	-1.99
EBITA, 3 Yr. CAGR %	-	-	-	4.57	-1.92
EBIT, 3 Yr. CAGR %	-	-	-	5.1	-1.14
Earnings From Cont. Operations, 3 Yr. CAGR %	-	-	-	13.3	23.71
Net Income, 3 Yr. CAGR %	-	-	-	13.3	23.71
Normalized Net Income, 3 Yr. CAGR %