NYSE · KVUE

Kenvue Inc.

Consumer Defensive · Household & Personal Products

$19.31▼ 1.28% ($0.25)at close

As of 4:00 PM ET

52-week

$15.88$20.13

Market cap

$37.09B

P/E

22.01

EPS (TTM)

$0.88

Next earnings

Feb 16, 2027

Valuation

Earnings power value

Zero-growth earnings power / share · Zero-growth base

$16.43

−15%

−15%vs price used $19.31

USD · Financial years 2019–2025 · 7 years normalized · Price Oct 30, 8:00 PM UTC

Price vs. estimate range

Assumption scenarios, not confidence intervals

USD · Financial years 2019–2025 · 7 years normalized · Price Oct 30, 8:00 PM UTC

What is this business worth assuming zero future growth?

Applicable

EPV Is Applicable

Stable, profitable, non-growth-driven earnings. EPV provides a reliable baseline valuation for the business as it stands today.

Conservative

$11.08

WACC: 7.6% (+2%)

Base Case

$16.43

WACC: 5.6% · Base sensitivity

Optimistic

$27.71

WACC: 3.6% (−2%)

EPV / Share

$16.43

-14.94% vs price

Price used

$19.31

Valuation reference price

Upside / Downside

-14.94%

Near EPV

Normalized EBIT

$2.58B

trimmed mean

WACC

5.6%

CAPM-derived

Implied Growth

—

N/A

Tax Rate

25.68%

effective rate

EPV / Capital

2.1×

Strong Earnings Premium

10Y FCFF CAGR

—

N/A

FCFF Conversion

—

N/A

About EPV

Earnings Power Value (Greenwald) asks: what is this business worth if it never grows again? It capitalizes normalized after-tax operating earnings at the cost of capital. EPV is best used as a baseline for stable, mature businesses — not as a ceiling or guaranteed floor, since business conditions may change. Compare it to asset value: if EPV significantly exceeds accounting book capital, that gap is consistent with competitive advantage, though a single snapshot cannot confirm how wide or durable it is.

Price vs Fundamentals

Why The Stock Is Moving

Fundamentals are supporting the moveHigh confidence

1Y Price: 35.6%Revenue (TTM): 3.49%FCF (TTM): 55.02%P/FCF: 7th pct

What changed

The stock rose 35.6% over the last year. Revenue grew 3.49% over the trailing twelve months. Operating margin moved from 15.74% to 19.86%. Free cash flow grew 55.02% over the trailing twelve months.

What the market seems to be pricing

The stock move broadly lines up with stronger business momentum, and the shares are still only around the 7th percentile of their historical P/FCF range.

What would invalidate this read

Operating margin is at 19.86%. Revenue grew 3.49% — this thesis depends on that trajectory holding. If revenue growth, margins, or free cash flow roll over while the stock keeps climbing, more of the move would be coming from multiple expansion than business progress.

Return analysis

Company profile

Kenvue Inc. functions as a global leader in the consumer health sector.

CEOKirk L. Perry

SectorConsumer Defensive

IndustryHousehold & Personal Products

Employees21,890

IPO dateMay 4, 2023

https://www.kenvue.com

Market multiples

Forward P/E—

EV/EBITDA (FY2025 year-end)13.77

Enterprise value (FY2025 year-end)$40.42B

Stock splits

No stock splits recorded for this ticker.

Profitability & growth

Revenue growth (Q3 FY26 YoY)3.24%

Gross margin (FY2025)58.13%▲0.2ppvs FY2024

Operating margin (FY2025)17.88%▲6.0ppvs FY2024

ROE (TTM to Sep 2026)16.25%▲1.9ppvs FY2025

Analyst consensus

RatingHold

Target price$19.50▲0.98%

Buy

Hold

Sell

Analyst ratings tend to be lagging indicators. Use as one signal among many.

Earnings

Actuals vs estimates by quarter, or any quarter against the same one a year earlier.

Next report

Feb 16, 2027

Q4 FY26 · EPS est $0.28 · Revenue est $3.9B

Same quarter, year over year

FY26 YTD +13.6%

Each cell vs the same quarter a year earlier (the cell below) · Q1–Q3 combined $0.92 vs $0.81 · all 3 quarters up

FY total

FY26

—

FY25

$1.08-5.3%

FY24

$1.14—

FY23

—

Fiscal year totals

FY25: $1.08; -5.3%
FY24: $1.14; —

SlowerFaster growth

BeatMissIn lineYear-ago cell

Q3 FY26

Reported Oct 30, 2026 · Latest

HoverTap a cell to inspect

Actual

$0.29

Miss by 0.5%

Estimate

$0.29

Street consensus

Year over year

+3.6%

vs Q3 FY25 · $0.28

Vs prior quarter

-6.5%

vs Q2 FY26 · $0.31

Price range $17.61-$19.83 · daily closes Jun 29-Sep 25

Implied at 16.2x street P/E $19.31 · street TTM EPS × current multiple

Institutional Sentiment

Kenvue Inc. · KVUE

From Form 13F filings (managers with $100M+). Filings land up to 45 days after quarter end — read this as positioning context, not live fund flow.

NYSE · KVUE

Kenvue Inc.

Consumer Defensive · Household & Personal Products

$19.31▼ 1.28% ($0.25)at close

As of 4:00 PM ET

52-week

$15.88$20.13

Market cap

$37.09B

P/E

22.01

EPS (TTM)

$0.88

Next earnings

Feb 16, 2027

Valuation

Earnings power value

Zero-growth earnings power / share · Zero-growth base

$16.43

−15%

−15%vs price used $19.31

USD · Financial years 2019–2025 · 7 years normalized · Price Oct 30, 8:00 PM UTC

Price vs. estimate range

Assumption scenarios, not confidence intervals

USD · Financial years 2019–2025 · 7 years normalized · Price Oct 30, 8:00 PM UTC

What is this business worth assuming zero future growth?

Applicable

EPV Is Applicable

Stable, profitable, non-growth-driven earnings. EPV provides a reliable baseline valuation for the business as it stands today.

Conservative

$11.08

WACC: 7.6% (+2%)

Base Case

$16.43

WACC: 5.6% · Base sensitivity

Optimistic

$27.71

WACC: 3.6% (−2%)

EPV / Share

$16.43

-14.94% vs price

Price used

$19.31

Valuation reference price

Upside / Downside

-14.94%

Near EPV

Normalized EBIT

$2.58B

trimmed mean

WACC

5.6%

CAPM-derived

Implied Growth

—

N/A

Tax Rate

25.68%

effective rate

EPV / Capital

2.1×

Strong Earnings Premium

10Y FCFF CAGR

—

N/A

FCFF Conversion

—

N/A

About EPV

Price vs Fundamentals

Why The Stock Is Moving

Fundamentals are supporting the moveHigh confidence

1Y Price: 35.6%Revenue (TTM): 3.49%FCF (TTM): 55.02%P/FCF: 7th pct

What changed

The stock rose 35.6% over the last year. Revenue grew 3.49% over the trailing twelve months. Operating margin moved from 15.74% to 19.86%. Free cash flow grew 55.02% over the trailing twelve months.

What the market seems to be pricing

The stock move broadly lines up with stronger business momentum, and the shares are still only around the 7th percentile of their historical P/FCF range.

What would invalidate this read

Return analysis

Company profile

Kenvue Inc. functions as a global leader in the consumer health sector.

CEOKirk L. Perry

SectorConsumer Defensive

IndustryHousehold & Personal Products

Employees21,890

IPO dateMay 4, 2023

https://www.kenvue.com

Market multiples

Forward P/E—

EV/EBITDA (FY2025 year-end)13.77

Enterprise value (FY2025 year-end)$40.42B

Stock splits

No stock splits recorded for this ticker.

Profitability & growth

Revenue growth (Q3 FY26 YoY)3.24%

Gross margin (FY2025)58.13%▲0.2ppvs FY2024

Operating margin (FY2025)17.88%▲6.0ppvs FY2024

ROE (TTM to Sep 2026)16.25%▲1.9ppvs FY2025

Analyst consensus

RatingHold

Target price$19.50▲0.98%

Buy

Hold

Sell

Analyst ratings tend to be lagging indicators. Use as one signal among many.

Earnings

Actuals vs estimates by quarter, or any quarter against the same one a year earlier.

Next report

Feb 16, 2027

Q4 FY26 · EPS est $0.28 · Revenue est $3.9B

Same quarter, year over year

FY26 YTD +13.6%

Each cell vs the same quarter a year earlier (the cell below) · Q1–Q3 combined $0.92 vs $0.81 · all 3 quarters up

FY total

FY26

—

FY25

$1.08-5.3%

FY24

$1.14—

FY23

—

Fiscal year totals

FY25: $1.08; -5.3%
FY24: $1.14; —

SlowerFaster growth

BeatMissIn lineYear-ago cell

Q3 FY26

Reported Oct 30, 2026 · Latest

HoverTap a cell to inspect

Actual

$0.29

Miss by 0.5%

Estimate

$0.29

Street consensus

Year over year

+3.6%

vs Q3 FY25 · $0.28

Vs prior quarter

-6.5%

vs Q2 FY26 · $0.31

Price range $17.61-$19.83 · daily closes Jun 29-Sep 25

Implied at 16.2x street P/E $19.31 · street TTM EPS × current multiple

Institutional Sentiment

Kenvue Inc. · KVUE

From Form 13F filings (managers with $100M+). Filings land up to 45 days after quarter end — read this as positioning context, not live fund flow.