Kenvue income statement
In fiscal 2025, Kenvue reported revenue of $15.12bn, down 2.1% on the year before, operating income of $2.41bn (a 16.0% margin) and net income of $1.47bn, or $0.76 per diluted share. Every line below comes from the company's 10-K and 10-Q filings; column headings link to the filing.
Income statement
| Fiscal year | 2021Jan 2022 | 2022Jan 2023 | 2023Dec 2023 | 2024Dec 2024 | 2025Dec 2025 | LTMSept 2026 |
|---|---|---|---|---|---|---|
| Revenue | 15.1 | 15.0 | 15.4 | 15.5 | 15.1 | 15.5 |
| Cost of revenue | 6.6 | 6.7 | 6.8 | 6.5 | 6.3 | 6.5 |
| Gross profit | 8.4 | 8.3 | 8.6 | 9.0 | 8.8 | 9.1 |
| Research and development | 0.4 | 0.4 | 0.4 | 0.4 | 0.4 | 0.4 |
| Selling, general and administrative | 5.5 | 5.6 | 6.1 | 6.3 | 6.1 | 6.1 |
| Operating income | 2.9 | 2.7 | 2.5 | 1.8 | 2.4 | 2.7 |
| Interest expense | 0.0 | 0.0 | 0.3 | 0.4 | 0.4 | 0.4 |
| Net interest income | 0.0 | 0.0 | −0.3 | — | — | — |
| Income before tax | 2.9 | 2.6 | 2.2 | 1.4 | 2.0 | 2.3 |
| Income tax | 0.8 | 0.6 | 0.5 | 0.4 | 0.5 | 0.6 |
| Net income | 2.1 | 2.1 | 1.7 | 1.0 | 1.5 | 1.7 |
| Diluted EPS | $1.21 | $1.20 | $0.90 | $0.54 | $0.76 | $0.88 |
| Diluted shares (average) | 1,716m | 1,716m | 1,850m | 1,923m | 1,924m | 1,923m |
| EBITDA | 3.7 | 3.3 | 3.1 | 2.5 | 3.0 | 3.1 |
| Quarter | 2024 Q4Dec 2024 | 2025 Q1Mar 2025 | 2025 Q2Jun 2025 | 2025 Q3Sept 2025 | 2025 Q4Dec 2025 | 2026 Q1Mar 2026 | 2026 Q2Jun 2026 | 2026 Q3Sept 2026 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 3,662 | 3,741 | 3,839 | 3,764 | 3,780 | 3,909 | 3,955 | 3,886 |
| Cost of revenue | 1,592 | 1,573 | 1,578 | 1,538 | 1,643 | 1,607 | 1,654 | 1,572 |
| Gross profit | 2,070 | 2,168 | 2,261 | 2,226 | 2,137 | 2,302 | 2,301 | 2,314 |
| Research and development | 106 | 99 | 91 | 94 | 98 | 84 | 94 | 96 |
| Selling, general and administrative | 1,525 | 1,537 | 1,504 | 1,512 | 1,535 | 1,453 | 1,537 | 1,569 |
| Operating income | 483 | 558 | 692 | 629 | 535 | 767 | 699 | 706 |
| Interest expense | 108 | 107 | 107 | 107 | 109 | 106 | 103 | 104 |
| Income before tax | 346 | 458 | 588 | 526 | 427 | 672 | 598 | 609 |
| Income tax | 53 | 136 | 168 | 128 | 97 | 198 | 142 | 179 |
| Net income | 293 | 322 | 420 | 398 | 330 | 474 | 456 | 430 |
| Diluted EPS | $0.16 | $0.17 | $0.22 | $0.21 | $0.17 | $0.25 | $0.24 | $0.22 |
| EBITDA | 633 | 694 | 834 | 770 | 673 | 910 | 778 | 783 |
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