Latest Ratios: P/E Ratio 25.7x · EV/EBITDA 13.8x · ROE 14.4%. (2020–2025 historical series)
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|---|
| Market Cap | $37.6B | $33.1B | $41.4B | $41.2B | — | — | — |
| Enterprise Value | $45.0B | $40.5B | $49.1B | $48.3B | — | — | — |
| P/E Ratio → | 25.74 | 22.62 | 39.87 | 24.75 | — | — | — |
| P/S Ratio | 2.48 | 2.19 | 2.68 | 2.67 | — | — | — |
| P/B Ratio | 3.50 | 3.07 | 4.28 | 3.68 | — | — | — |
| P/FCF | 21.81 | 19.21 | 31.01 | 15.28 | — | — | — |
| P/OCF | 17.09 | 15.05 | 23.40 | 13.01 | — | — | — |
P/E links to full P/E history page with 30-year chart
Enterprise-value multiples — capital-structure-neutral measures of total business value
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 2.68 | 3.17 | 3.13 | — | — | — |
| EV / EBITDA | 13.80 | 12.43 | 19.92 | 15.38 | — | — | — |
| EV / EBIT | 16.65 | 17.05 | 26.57 | 18.95 | — | — | — |
| EV / FCF | — | 23.54 | 36.74 | 17.89 | — | — | — |
Margins and return-on-capital ratios measuring operating efficiency
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|---|
| Gross Margin | 58.1% | 58.1% | 58.0% | 56.0% | 55.4% | 55.9% | 54.2% |
| Operating Margin | 17.9% | 17.9% | 11.9% | 16.3% | 17.9% | 19.4% | -6.8% |
| Net Profit Margin | 9.7% | 9.7% | 6.7% | 10.8% | 13.8% | 13.8% | -6.1% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|---|
| ROE | 14.4% | 14.4% | 9.9% | 10.7% | 10.2% | 10.7% | -4.8% |
| ROA | 5.6% | 5.6% | 3.9% | 6.0% | 7.5% | 7.3% | -3.0% |
| ROIC | 11.4% | 11.4% | 7.8% | 8.2% | 8.4% | 11.7% | -4.1% |
| ROCE | 13.2% | 13.2% | 8.7% | 11.0% | 11.3% | 12.8% | -4.5% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.79 | 0.79 | 0.90 | 0.75 | 0.45 | 0.01 | — |
| Debt / EBITDA | 2.61 | 2.61 | 3.54 | 2.68 | 2.73 | 0.04 | — |
| Net Debt / Equity | — | 0.69 | 0.79 | 0.63 | 0.39 | -0.03 | -0.03 |
| Net Debt / EBITDA | 2.29 | 2.29 | 3.11 | 2.24 | 2.35 | -0.17 | — |
| Debt / FCF | — | 4.33 | 5.73 | 2.61 | 3.63 | -15.67 | -0.20 |
| Interest Coverage | 6.27 | 6.27 | 4.28 | 7.12 | — | — | — |
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|---|
| Current Ratio | 0.96 | 0.96 | 0.96 | 1.12 | 1.50 | 1.22 | 0.61 |
| Quick Ratio | 0.68 | 0.68 | 0.69 | 0.78 | 0.93 | 0.80 | 0.39 |
| Cash Ratio | 0.18 | 0.18 | 0.19 | 0.25 | 0.31 | 0.18 | 0.08 |
| Asset Turnover | — | 0.56 | 0.60 | 0.55 | 0.55 | 0.54 | 0.50 |
| Inventory Turnover | 3.80 | 3.80 | 4.08 | 3.67 | 2.99 | 3.90 | 3.93 |
| Days Sales Outstanding | — | — | 62.80 | 62.39 | 56.08 | 56.52 | 53.74 |
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|---|
| Dividend Yield | 4.2% | 4.8% | 3.7% | 35.3% | — | — | — |
| Payout Ratio | 107.6% | 107.6% | 150.7% | 874.6% | — | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|---|
| Earnings Yield | 3.9% | 4.4% | 2.5% | 4.0% | — | — | — |
| FCF Yield | 4.6% | 5.2% | 3.2% | 6.5% | — | — | — |
| Buyback Yield | 0.5% | 0.6% | 0.6% | 0.0% | — | — | — |
| Total Shareholder Yield | 4.7% | 5.4% | 4.3% | 35.3% | — | — | — |
| Shares Outstanding | — | $1.9B | $1.9B | $1.9B | $1.9B | $1.9B | $1.9B |
Margin erosion from competition
According to current market data, Kenvue trades at a forward P/E of 16.02, which appears to reflect a valuation discount compared to broader consumer staples peers like Procter & Gamble, suggesting investors remain cautious regarding the company's long-term growth trajectory following its recent separation from Johnson & Johnson.
The current valuation multiple implies that the market views Kenvue as a slow-growth defensive asset rather than a high-growth healthcare innovator. This discount may be justified by the company's ongoing transition costs and the need to prove its ability to sustain margins independently of its former parent's shared infrastructure.
Based on reported financial figures, Kenvue's ROIC has remained in a narrow range between 2.0% and 3.5% over the last ten quarters, indicating that the company is still in the early stages of optimizing its capital base to generate meaningful returns for shareholders post-spin-off.
The low ROIC relative to established peers suggests that the company's capital allocation strategy is currently focused on stabilization rather than aggressive value creation. Investors should monitor whether management can improve these returns as the company moves past the initial phase of standalone operational adjustments.
As reported in quarterly filings, Kenvue's cash conversion cycle has shown significant volatility, with days inventory outstanding reaching 95 days in 2026Q1, suggesting that the company faces ongoing challenges in managing its supply chain and inventory levels effectively during its transition to an independent operating model.
The fluctuation in working capital metrics appears to be driven by the complex trade promotion and rebate structures inherent in the consumer health sector. This volatility makes it difficult to assess the underlying efficiency of the company's operations, warranting further investigation into whether these trends are structural or temporary.
Based on an analysis of the last ten quarters, the net margin is frequently misapplied as a primary indicator of Kenvue's earning power, which obscures the significant impact of non-recurring separation costs and transition service agreement expenses that have historically distorted the company's reported bottom-line profitability.
Analysts should instead focus on adjusted operating margins and free cash flow conversion to better understand the company's true operational health. Relying on net income in the current context may lead to an inaccurate assessment of the company's ability to generate sustainable cash flows as it matures into a standalone entity.
Includes 30+ ratios · 6 years · Updated daily
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Quick answers to the most common questions about buying KVUE stock.
Kenvue Inc.'s current P/E ratio is 25.7x. The historical average is 29.1x. This places it at the 67th percentile of its historical range.
Kenvue Inc.'s current EV/EBITDA is 13.8x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 15.9x.
Kenvue Inc.'s return on equity (ROE) is 14.4%. The historical average is 8.5%.
Based on historical data, Kenvue Inc. is trading at a P/E of 25.7x. This is at the 67th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Kenvue Inc.'s current dividend yield is 4.20% with a payout ratio of 107.6%.
Kenvue Inc. has 58.1% gross margin and 17.9% operating margin. Operating margin between 10-20% is typical for established companies.
Kenvue Inc.'s Debt/EBITDA ratio is 2.6x, indicating moderate leverage. A ratio between 2-4x is manageable but warrants monitoring.