financial statements

The full income statement, balance sheet, and cash-flow statement for Kenvue Inc. (KVUE), plus valuation ratios — straight from SEC filings. Switch between annual, quarterly, and trailing-twelve-month figures, pick how far back to look, and flip the time order. Every line has a trend sparkline.

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PeriodRangeOrderChangeYoYQoQAs-reported fiscal years.

Line item	FY2025	FY2024	FY2023	FY2023	FY2022
Income Statement	as ofDec 28 ’25	as ofDec 29 ’24	as ofDec 31 ’23	as ofJan 1 ’23	as ofJan 2 ’22
Revenue	15.1B YoY-2.1%	15.5B YoY+0.1%	15.4B YoY+3.3%	14.9B YoY-0.7%	15.1B
	8.79B YoY-1.9%	8.96B YoY+3.7%	8.64B YoY+4.3%	8.29B YoY-1.6%	8.42B
Cost of revenue	6.33B YoY-2.5%	6.50B YoY-4.5%	6.80B YoY+2.0%	6.67B YoY+0.5%	6.63B
Research & development	382M YoY-6.4%	408M YoY+2.3%	399M YoY+6.4%	375M YoY+5.6%	355M
Selling, general & administrative	6.09B YoY-3.8%	6.33B YoY+3.1%	6.14B YoY+9.0%	5.63B YoY+2.7%	5.48B
Restructuring	290M YoY+56.8%	185M	0.00	0.00 YoY-100.0%	117M
Amortization of intangibles	257M YoY-4.5%	269M YoY-16.5%	322M YoY-7.5%	348M YoY-15.9%	414M
Provision for credit losses	11.0M YoY+83.3%	6.00M YoY+50.0%	4.00M YoY-55.6%	9.00M YoY+125.0%	4.00M
Operating income	2.41B YoY+31.1%	1.84B YoY-26.7%	2.51B YoY-6.1%	2.67B YoY-8.4%	2.92B
Interest expense	—	—	250M	0.00	0.00
Net interest income	—	—	-250M	0.00	0.00
Other non-operating income	10.0M YoY+150.0%	4.00M YoY+157.1%	-7.00M YoY-333.3%	3.00M YoY-88.0%	25.0M
Pre-tax income	2.00B YoY+41.3%	1.42B YoY-35.4%	2.19B YoY-17.0%	2.64B YoY-9.8%	2.92B
Income tax	529M YoY+37.4%	385M YoY-26.8%	526M YoY-8.2%	573M YoY-32.3%	847M
Net income	1.47B YoY+42.7%	1.03B YoY-38.1%	1.66B YoY-19.4%	2.06B YoY-0.7%	2.08B
	$0.76 YoY+40.7%	$0.54 YoY-40.0%	$0.90 YoY-25.0%	$1.20 YoY-0.8%	$1.21
EPS (basic)	$0.77 YoY+42.6%	$0.54 YoY-40.0%	$0.90 YoY-25.0%	$1.20 YoY-0.8%	$1.21
Weighted-avg shares (basic)	1.92B YoY+0.1%	1.92B YoY+3.7%	1.85B YoY+7.6%	1.72B YoY-0.0%	1.72B
Weighted-avg shares (diluted)	1.92B YoY+0.1%	1.92B YoY+3.9%	1.85B YoY+7.8%	1.72B YoY-0.0%	1.72B
Balance Sheet	as ofDec 28 ’25	as ofDec 29 ’24	as ofDec 31 ’23	as ofJan 1 ’23	as ofJan 2 ’22
	5.70B YoY+3.1%	5.53B YoY-10.0%	6.14B YoY+4.4%	5.88B	—
Cash & equivalents	1.06B YoY-0.7%	1.07B YoY-22.6%	1.38B YoY+12.3%	1.23B YoY+66.4%	740M
Accounts receivable	2.38B YoY+10.0%	2.17B YoY+4.4%	2.07B YoY-2.3%	2.12B	—
Inventory	1.67B YoY+4.7%	1.59B YoY-14.0%	1.85B YoY-16.8%	2.23B	—
Prepaid expenses	432M YoY-12.6%	494M YoY-12.9%	567M YoY+224.0%	175M	—
Other current assets	155M YoY-24.4%	205M YoY-22.6%	265M YoY+115.4%	123M	—
	27.1B YoY+5.8%	25.6B YoY-8.1%	27.9B YoY+2.0%	27.3B	—
Property, plant & equipment	2.21B YoY+19.6%	1.85B YoY-9.5%	2.04B YoY+12.2%	1.82B	—
Operating lease right-of-use	151M YoY+36.0%	111M YoY-20.1%	139M YoY+26.4%	110M	—
Goodwill	9.51B YoY+7.5%	8.84B YoY-4.6%	9.27B YoY+0.9%	9.19B YoY-6.4%	9.81B
Intangible assets	8.69B YoY+2.6%	8.47B YoY-11.9%	9.62B YoY-2.4%	9.85B	—
Deferred tax assets	237M YoY+28.8%	184M YoY+16.5%	158M YoY+7.5%	147M	—
Other non-current assets	727M YoY+0.1%	726M YoY+16.5%	623M YoY+43.5%	434M	—
	5.95B YoY+3.6%	5.74B YoY+4.7%	5.48B YoY+39.6%	3.93B	—
Accounts payable	2.47B YoY+9.7%	2.25B YoY-9.4%	2.49B YoY+36.1%	1.83B	—
Accrued liabilities	1.16B YoY+2.4%	1.13B YoY-22.3%	1.46B YoY+60.7%	906M	—
Short-term & current debt	750M YoY+0.0%	750M	0.00	0.00	—
Current lease liability	43.0M YoY+19.4%	36.0M YoY-18.2%	44.0M YoY+25.7%	35.0M	—
	16.3B YoY+2.4%	15.9B YoY-4.2%	16.6B YoY+126.5%	7.35B	—
Long-term debt	7.69B YoY+0.0%	7.69B YoY+0.0%	7.69B	0.00	—
Non-current lease liability	107M YoY+40.8%	76.0M YoY-21.6%	97.0M YoY+19.8%	81.0M	—
Deferred tax liabilities	2.35B YoY+4.1%	2.26B YoY-13.7%	2.62B YoY+5.7%	2.48B	—
Other non-current liabilities	601M YoY+12.1%	536M YoY+9.2%	491M YoY-32.5%	727M	—
	10.8B YoY+11.3%	9.67B YoY-13.8%	11.2B YoY-43.9%	20.0B YoY-2.5%	20.5B
Preferred stock	0.00	0.00	0.00	0.00	—
Common stock	19.0M YoY+0.0%	19.0M YoY+0.0%	19.0M	0.00	—
Additional paid-in capital	16.3B YoY+1.4%	16.1B YoY-0.1%	16.1B	0.00	—
Retained earnings	-204M YoY-119.4%	-93.0M YoY-121.7%	429M	0.00	—
Treasury stock	439M YoY+81.4%	242M YoY+3357.1%	7.00M	0.00	—
Accumulated other comprehensive income	-4.96B YoY+19.3%	-6.15B YoY-14.3%	-5.38B YoY+1.4%	-5.46B	—
Total liabilities & equity	27.1B YoY+5.8%	25.6B YoY-8.1%	27.9B YoY+2.0%	27.3B	—
Common shares issued	1.94B YoY+0.6%	1.92B YoY+0.5%	1.92B YoY+0.0%	1.92B	—
Common shares outstanding	1.92B YoY+0.1%	1.91B YoY-0.1%	1.92B YoY+0.0%	1.92B	—
Shares outstanding (cover)	1.92B YoY-0.1%	1.92B YoY+0.1%	1.91B	—	—
Cash Flow	as ofDec 28 ’25	as ofDec 29 ’24	as ofDec 31 ’23	as ofJan 1 ’23	as ofJan 2 ’22
	2.20B YoY+24.2%	1.77B YoY-44.2%	3.17B YoY+25.5%	2.52B YoY+656.0%	334M
Depreciation & amortization	557M YoY-10.5%	622M YoY-0.8%	627M YoY-2.6%	644M YoY-11.9%	731M
Share-based compensation	136M YoY-46.5%	254M YoY+35.1%	188M YoY+37.2%	137M YoY-2.8%	141M
Deferred income taxes	-108M YoY+62.1%	-285M YoY-150.0%	-114M YoY-163.3%	180M YoY-65.5%	521M
Change in receivables	112M YoY-48.6%	218M YoY+595.5%	-44.0M YoY-131.0%	142M YoY-53.1%	303M
Change in inventory	12.0M YoY+106.6%	-182M YoY+47.9%	-349M YoY-160.0%	582M YoY+655.8%	77.0M
Change in payables	—	—	390M YoY+650.0%	52.0M YoY-84.2%	330M
	-436M YoY-2.6%	-425M YoY+12.9%	-488M YoY-25.1%	-390M YoY-128.1%	-171M
Capital expenditure	475M YoY+9.4%	434M YoY-7.5%	469M YoY+25.1%	375M YoY+27.1%	295M
Other investing activities	-15.0M YoY+0.0%	-15.0M YoY-137.5%	40.0M YoY+73.9%	23.0M YoY+148.9%	-47.0M
	-1.84B YoY-17.4%	-1.56B YoY+38.1%	-2.53B YoY-59.6%	-1.58B	0.00
Common stock repurchased	197M YoY-16.2%	235M YoY+3257.1%	7.00M	0.00	—
Dividends paid	1.58B YoY+1.9%	1.55B YoY+102.6%	766M	0.00	0.00
Other financing activities	91.0M YoY+40.0%	65.0M YoY+133.7%	-193M	0.00	0.00
FX effect on cash	68.0M YoY+174.7%	-91.0M YoY-4450.0%	-2.00M YoY+96.7%	-61.0M YoY-48.8%	-41.0M
Net change in cash	-8.00M YoY+97.4%	-312M YoY-306.6%	151M YoY-69.2%	491M YoY+302.5%	122M
Interest paid	440M YoY+0.2%	439M YoY+96.0%	224M	0.00	0.00
Income taxes paid	595M YoY-26.5%	810M YoY+15.9%	699M YoY+121.2%	316M YoY-12.9%	363M
Valuation Ratios	as ofDec 28 ’25	as ofDec 29 ’24	as ofDec 31 ’23	as ofJan 1 ’23	as ofJan 2 ’22
Market cap	32.9B YoY-20.2%	41.3B YoY+0.1%	41.2B	—	—
P/E	23.0× YoY-40.6%	38.8× YoY+59.6%	24.3×	—	—
P/S	2.2× YoY-17.6%	2.7× YoY+0.6%	2.7×	—	—
P/B	3.1× YoY-19.9%	3.9× YoY+2.4%	3.8×	—	—
P/FCF	20.1× YoY-31.6%	29.4× YoY+75.4%	16.8×	—	—
Earnings yield	4.3% YoY+68.3%	2.6% YoY-37.3%	4.1%	—	—
FCF yield	5.0% YoY+46.2%	3.4% YoY-43.0%	6.0%	—	—
Source filing	10-K	10-K	10-K	10-K	10-K

About this data

Source: KVUE's SEC filings (10-K / 10-Q). Annual columns are as-reported fiscal years; quarterly columns are as-reported fiscal quarters (Q4 derived as full-year minus the first three quarters where a company doesn't file a standalone Q4); TTM (quarterly) rolls the trailing four quarters at every quarter end, TTM (yearly) samples that one year apart; balance-sheet rows show the period-end balance. Valuation ratios are sampled as of each period end. View all KVUE filings on SEC EDGAR → Not investment advice.

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