Kimberly-Clark Corporation (KMB)财务
NASDAQ · Consumer Defensive · Household & Personal Products · 员工36,000人 · CEO Michael D. Hsu
- 股价
- $107.94 -1.89%
- 市值
- $359亿
- 企业价值
- $415亿
- 最近财报
- Q2 '26 2026-08-04提交
- 下次财报
- 2026-11-05 EPS预期 $1.65
营收(TTM)$166亿-8.4% 对比去年同期最近4个季度;柱状图=各季度
营业利润率(TTM)12.4%-3.9 百分点 对比去年同期营业利润 $20.5亿
净利润(TTM)$19.6亿-19.5% 对比去年同期税后,含营业外收益
自由现金流(TTM)$25.6亿+21.8% 对比去年同期资本支出 $7.72亿
稀释EPS(TTM)$5.88-19.0% 对比去年同期最近4个季度之和
净现金-$55.6亿+15.8% 对比去年同期现金 + 短期投资 - 债务
估值与关键数据
- 市值
- $359亿 EV $415亿
- 营收
- $166亿 过去12个月
- 营收增速
- -4% FY2026年一致预期
- 净利润率
- 11.8% 净利润 / 营收,TTM
- P/E
- 18.4× 预期 14.6×(FY2026)
- P/S
- 2.2× 股价 / 营收,TTM
- EV / EBITDA
- 13.0× TTM
- 自由现金流
- $25.6亿 过去12个月
- 净利润
- $19.6亿 过去12个月
- 营收预期
- $166亿 FY2026年一致预期
- 盈利
- 2026-11-05 营收预期 $41.3亿
- 股息
- $5.10 每股,过去12个月
核心要点
根据披露数据计算,每条结论都附有其依据的数字。
- 最近财报(2026-08-04):营收低于预期0.8%,EPS 低于预期10.4%营收$41.9亿,预期$42.2亿(-0.8%);EPS $1.80,预期$2.01(-10.4%)。
- 营收增长加速:同比0.6%Q2 '26营收$41.9亿,此前四个季度的平均值为-8.3%。
- 营业利润率12.4%(TTM),较去年同期-3.9 百分点营收增长-8.4%,营业利润增长-30.1%。
- 税前利润的10.2%来自营业外收益税前利润$22.9亿,营业利润$20.5亿(TTM)。股权投资收益等一次性项目推高了净利润和EPS,营业利润更能反映业务本身。
- 资本支出占营收的4.7%(去年为4.3%)最近4个季度投入$7.72亿(同比+0.3%)。自由现金流$25.6亿,相当于净利润的131.0%。
- 股东回报$17亿 = 自由现金流的66.4%回购$2100万(去年为$9.64亿),股息$16.8亿,股权激励$1.31亿(TTM)。
- 稀释股数一年内增加0.0%Q2 '26稀释股数3.33亿,一年前为3.33亿。
- 净债务 $55.6亿现金 + 短期投资 $9.56亿,含租赁债务 $65.2亿;一年前净债务 $66.1亿。
上一季度:Q2 '26
截至2026-06-30的季度。与去年同期及财报发布前的分析师一致预期对比。
本季度与去年同期
| Q2 '26 | 去年同期 | 变化 | |
|---|---|---|---|
| 营收 | $41.9亿 | $41.6亿 | +0.6% |
| 毛利率 | 38.3% | 35.0% | +3.3 百分点 |
| 营业利润 | $4.48亿 | $5.92亿 | -24.3% |
| 营业利润率 | 10.7% | 14.2% | -3.5 百分点 |
| 净利润 | $3.45亿 | $5.09亿 | -32.2% |
| 稀释EPS | $1.04 | $1.53 | -32.0% |
| 经营现金流 | $9.08亿 | $7.7亿 | +17.9% |
| 资本支出 | $3.52亿 | $1.97亿 | +78.7% |
| 自由现金流 | $5.56亿 | $5.73亿 | -3.0% |
| R&D | $0 | $0 | – |
| 股权激励费用 | $4100万 | $4100万 | 0.0% |
实际 vs 一致预期
2026-08-04| 实际 | 一致预期 | 对比预期 | |
|---|---|---|---|
| 营收 | $41.9亿 | $42.2亿 | -0.8% |
| EPS(一致预期口径) | $1.80 | $2.01 | -10.4% |
来自2026-08-04发布的Q2 '26财报：营收及分析师预期口径的EPS（通常为调整后），可能与上方报表中的EPS不同。
EPS与一致预期
最近8次财报营收
收入从何而来,按业务线和地区逐季展示。
营收、营业利润与增速
季度按业务线划分的营收
堆叠,季度| 分部 | Q2 '26 | 同比 | 占比 | TTM | TTM同比 | 12个季度 |
|---|---|---|---|---|---|---|
| International Personal Care (IPC) | – | – | – | – | – | |
| Diapers | $17.5亿 | -0.9% | 42.1% | $68.2亿 | – | |
| Consumer tissue products | $10.2亿 | +1.8% | 24.4% | $35.5亿 | – | |
| International Family Care & Professional (IFP) | – | – | – | – | – | |
| Away from Home Professional Products | $4.76亿 | +2.4% | 11.4% | $16.2亿 | – | |
| Adult care products | $4.93亿 | +0.2% | 11.9% | $19.6亿 | – | |
| Feminine care products | $4.23亿 | +2.7% | 10.2% | $17.3亿 | – |
分部利润
取自每份10-Q / 10-K分部附注的各披露分部营业利润(多数数据源缺少的利润拆分)。
Q2 '26分部
| 分部 | 营收 | 同比 | 营业利润 | 同比 | 利润率 | 去年同期利润率 | TTM营业利润 |
|---|---|---|---|---|---|---|---|
| Personal Care | – | – | – | – | – | – | – |
| Consumer Tissue | – | – | – | – | – | – | – |
| KC Professional | – | – | – | – | – | – | – |
| Corporate And Other | – | – | – | – | – | – | – |
| North America NA | – | – | $7.25亿 | +10.7% | – | – | $25.7亿 |
| International Personal Care IPC | – | – | $1.86亿 | +2.2% | – | – | $8.44亿 |
| International Family Care Professional IFP | – | – | – | – | – | – | – |
| Corporate (unallocated) | – | – | -$2.78亿 | -13.5% | – | – | -$8.98亿 |
各分部营业利润
季度各分部营业利润率
季度第四季度为推算值:10-K披露全年数据,减去10-Q的前三个季度。
利润率与成本结构
每一单位营收在各层级还剩多少,成本又花在哪里。
利润率
季度成本占营收比例
季度现金流与资本配置
创造了多少现金,用在何处,又有多少回到股东手中。
经营现金流、资本支出、自由现金流
季度现金用途与经营现金流
财年最近4个季度
现金流量表- 经营现金流
- $33.3亿
- 资本支出
- -$7.72亿
- 股票回购
- -$2100万
- 股息
- -$16.8亿
- 收购
- $0
- 债务净发行
- $8.76亿
- 股权激励费用
- $1.31亿
- 自由现金流
- $25.6亿
- 股东回报 / FCF
- 66.4%
股数与EPS
季度,稀释资产负债表
各季度末的流动性、投资和债务。
现金、投资与债务
季度末估值与回报
当前估值倍数与公司自身过去五个财年对比;分析师目标价与评级。
估值倍数与回报
TTM与过去5个财年| 当前 | 5年均值 | 当前处于5年区间的位置 | |
|---|---|---|---|
| P/E(TTM) | 18.4× | 21.5× | 16.6× – 26.6× |
| EV / EBITDA | 13.0× | 14.8× | 12.2× – 17.4× |
| EV / 营收 | 2.5× | 2.6× | 2.3× – 2.9× |
| 股价 / FCF | 14.0× | 21.1× | 14.8× – 28.0× |
| 股价 / 净资产 | 20.5× | 59.5× | 22.4× – 93.8× |
| FCF收益率 | 7.1% | 5.0% | 3.6% – 6.7% |
| 投入资本回报率 | 12.5% | 19.2% | 16.8% – 25.8% |
| 净资产收益率 | 122.6% | 267.4% | 134.6% – 353.6% |
分析师
一致目标价 $114.20 (+5.8%)
区间 $105.00 – $120.00 · 评级 Hold
强烈买入0
买入9
持有20
卖出3
强烈卖出0
展望
分析师对未来财年的一致预期,以及按当前股价意味着什么。
一致预期
| 财年 | 营收 | 增速 | EPS | 增速 | 按当前股价的P/E | 分析师(EPS) |
|---|---|---|---|---|---|---|
| FY2026 | $166亿 | -3.5% | $7.39 | +21.7% | 14.6× | 10 |
| FY2027 | $170亿 | +2.4% | $7.36 | -0.3% | 14.7× | 7 |
| FY2028 | $174亿 | +2.5% | $7.91 | +7.3% | 13.7× | 2 |
| FY2029 | $262亿 | +50.1% | $8.20 | +3.8% | 13.2× | 1 |
| FY2030 | $358亿 | +36.9% | $8.79 | +7.1% | 12.3× | 1 |
财务报表
利润表、资产负债表和现金流量表的每一项,含12个季度和10个财年,以金额、占营收比例或增速展示。
全部披露项目
Kimberly-Clark Corporation在近期10-Q / 10-K文件中标记的全部326项数据,附SEC官方标签和定义,包括附注(租赁、税务、回购、员工等)。
| 项目(SEC标签) | 最近季度 | 去年同期 | 同比 | 最近财年 | 上一财年 | 同比 |
|---|---|---|---|---|---|---|
| Accounts Payable, Current | $33.7亿2026-06-30 | $32.5亿 | +3.7% | $33.9亿 | $32.6亿 | +3.8% |
| Accounts Receivable, after Allowance for Credit Loss, Current | $18.6亿2026-06-30 | $20.1亿 | -7.4% | $18.9亿 | $17.3亿 | +9.5% |
| Accounts Receivable, Allowance for Credit Loss, Current | $4500万2025-12-31 | $4800万 | -6.3% | $4500万 | $4800万 | -6.3% |
| Accrued Advertising, Current | $4.59亿2025-12-31 | $4.86亿 | -5.6% | $4.59亿 | $4.86亿 | -5.6% |
| Accrued Liabilities, Current | $22.7亿2026-06-30 | $20.2亿 | +12.4% | $18.9亿 | $20.9亿 | -9.7% |
| Accrued Salaries, Current | $2.84亿2025-12-31 | $3.94亿 | -27.9% | $2.84亿 | $3.94亿 | -27.9% |
| Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment | $98.9亿2026-06-30 | $97.6亿 | +1.4% | $97.3亿 | $94.2亿 | +3.4% |
| Accumulated Other Comprehensive Income (Loss), Net of Tax | -$33.9亿2026-06-30 | -$35.1亿 | +3.5% | -$34.4亿 | -$37.7亿 | +8.6% |
| Additional Paid in Capital | $7.88亿2026-06-30 | $7.98亿 | -1.3% | $8.49亿 | $8.62亿 | -1.5% |
| Adjustments to Additional Paid in Capital, Dividends in Excess of Retained Earnings | $4.26亿2026-06-30 | $4.18亿 | +1.9% | $17.1亿 | $16.7亿 | +2.0% |
| Advertising Expense | – | – | – | $10.2亿 | $11.2亿 | -9.1% |
| Amortization of Intangible Assets | – | – | – | $200万 | $700万 | -71.4% |
| Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 240万2026-06-30 | 110万 | +118.2% | 190万 | 120万 | +58.3% |
| AOCI, Cash Flow Hedge, Cumulative Gain (Loss), after Tax | -$6100万2025-09-30 | -$9500万 | +35.8% | – | – | – |
| APIC, Share-based Payment Arrangement, Increase for Cost Recognition | $3900万2026-06-30 | $3900万 | 0.0% | $1.35亿 | $1.28亿 | +5.5% |
| Asset Impairment Charges | $1800万2025-12-31 | $0 | – | $1800万 | $1.14亿 | -84.2% |
| Assets | $186亿2026-06-30 | $168亿 | +10.6% | $171亿 | $165亿 | +3.3% |
| Assets, Current | $63.5亿2026-06-30 | $55.6亿 | +14.3% | $53.1亿 | $55.8亿 | -4.8% |
| Buildings and Improvements, Gross | $23.8亿2026-06-30 | $23.9亿 | -0.7% | $23.5亿 | $23.1亿 | +1.7% |
| Capital Expenditure, Discontinued Operations | $6700万2026-06-30 | $2100万 | +219.0% | $1.18亿 | $1.16亿 | +1.7% |
| Cash and Cash Equivalents, at Carrying Value | $9.56亿2026-06-30 | $6.34亿 | +50.8% | $6.88亿 | $10.1亿 | -31.9% |
| Cash Flow Hedge Gain (Loss) to be Reclassified within Twelve Months | $300万2026-06-30 | -$800万 | +137.5% | -$2100万 | – | – |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents | $9.56亿2026-06-30 | $6.34亿 | +50.8% | $6.88亿 | $10.1亿 | -31.9% |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Disposal Group, Including Discontinued Operations | $4.07亿2026-06-30 | $2300万 | +1,669.6% | $1300万 | $1100万 | +18.2% |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Including Disposal Group and Discontinued Operations | $13.6亿2026-06-30 | $6.57亿 | +107.5% | $7.01亿 | $10.2亿 | -31.3% |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect | $8.04亿2026-06-30 | $9400万 | +755.3% | -$3.2亿 | -$7200万 | -344.4% |
| Common Stock, Dividends, Per Share, Declared | $1.282026-06-30 | $1.26 | +1.6% | $5.04 | $4.88 | +3.3% |
| Common Stock, Par or Stated Value Per Share | $1.252026-06-30 | $1.25 | 0.0% | $1.25 | $1.25 | 0.0% |
| Common Stock, Shares Authorized | 12亿2026-06-30 | 12亿 | 0.0% | 12亿 | 12亿 | 0.0% |
| Common Stock, Shares, Issued | 3.79亿2026-06-30 | 3.79亿 | 0.0% | 3.79亿 | 3.79亿 | 0.0% |
| Common Stock, Shares, Outstanding | 3.33亿2026-06-30 | 3.32亿 | +0.2% | 3.32亿 | 3.32亿 | 0.0% |
| Common Stock, Value, Issued | $4.73亿2026-06-30 | $4.73亿 | 0.0% | $4.73亿 | $4.73亿 | 0.0% |
| Comprehensive Income (Loss), Net of Tax, Attributable to Noncontrolling Interest | $400万2026-06-30 | $900万 | -55.6% | $2800万 | $2100万 | +33.3% |
| Comprehensive Income (Loss), Net of Tax, Attributable to Parent | $3.71亿2026-06-30 | $6.36亿 | -41.7% | $23.4亿 | $23.6亿 | -0.8% |
| Comprehensive Income (Loss), Net of Tax, Including Portion Attributable to Noncontrolling Interest | $3.75亿2026-06-30 | $6.45亿 | -41.9% | $23.7亿 | $23.8亿 | -0.5% |
| Construction in Progress, Gross | $14.5亿2026-06-30 | $8.24亿 | +76.0% | $12亿 | $7.8亿 | +54.0% |
| Cost of Goods and Services Sold | $25.9亿2026-06-30 | $27.1亿 | -4.5% | $105亿 | $105亿 | +0.1% |
| Current Federal Tax Expense (Benefit) | – | – | – | $1.17亿 | $2.36亿 | -50.4% |
| Current Foreign Tax Expense (Benefit) | – | – | – | $2.26亿 | $1.95亿 | +15.9% |
| Current Income Tax Expense (Benefit) | – | – | – | $3.85亿 | $4.87亿 | -20.9% |
| Current State and Local Tax Expense (Benefit) | – | – | – | $4200万 | $5600万 | -25.0% |
| Debt, Current | $4300万2026-06-30 | $7.71亿 | -94.4% | $6.94亿 | $5.64亿 | +23.0% |
| Deferred Federal Income Tax Expense (Benefit) | – | – | – | $2.41亿 | -$1400万 | +1,821.4% |
| Deferred Foreign Income Tax Expense (Benefit) | – | – | – | -$2800万 | -$1300万 | -115.4% |
| Deferred Income Tax Expense (Benefit) | -$1.19亿2026-06-30 | -$3700万 | -221.6% | $2.41亿 | -$3800万 | +734.2% |
| Deferred Income Tax Liabilities, Net | $4.73亿2026-06-30 | $2.43亿 | +94.7% | $4.45亿 | $3亿 | +48.3% |
| Deferred State and Local Income Tax Expense (Benefit) | – | – | – | $100万 | -$1800万 | +105.6% |
| Deferred Tax Assets, Gross | $16.2亿2025-12-31 | $15.4亿 | +4.9% | $16.2亿 | $15.4亿 | +4.9% |
| Deferred Tax Assets, Net of Valuation Allowance | $11.6亿2025-12-31 | $12.5亿 | -6.5% | $11.6亿 | $12.5亿 | -6.5% |
| Deferred Tax Assets, Other | $4.23亿2025-12-31 | $3.64亿 | +16.2% | $4.23亿 | $3.64亿 | +16.2% |
| Deferred Tax Assets, Other Tax Carryforwards | $7.12亿2025-12-31 | $6.23亿 | +14.3% | $7.12亿 | $6.23亿 | +14.3% |
| Deferred Tax Assets, Tax Deferred Expense, Compensation and Benefits, Postretirement Benefits | $1.62亿2025-12-31 | $1.69亿 | -4.1% | $1.62亿 | $1.69亿 | -4.1% |
| Deferred Tax Assets, Valuation Allowance | $4.51亿2025-12-31 | $2.95亿 | +52.9% | $4.51亿 | $2.95亿 | +52.9% |
| Deferred Tax Liabilities, Goodwill | $6900万2025-12-31 | $6400万 | +7.8% | $6900万 | $6400万 | +7.8% |
| Deferred Tax Liabilities, Gross | $13.5亿2025-12-31 | $13.4亿 | +0.7% | $13.5亿 | $13.4亿 | +0.7% |
| Deferred Tax Liabilities, Leasing Arrangements | $1.09亿2025-12-31 | $1.05亿 | +3.8% | $1.09亿 | $1.05亿 | +3.8% |
| Deferred Tax Liabilities, Net | $1.84亿2025-12-31 | $9400万 | +95.7% | $1.84亿 | $9400万 | +95.7% |
| Deferred Tax Liabilities, Other | $1.86亿2025-12-31 | $2.03亿 | -8.4% | $1.86亿 | $2.03亿 | -8.4% |
| Deferred Tax Liabilities, Property, Plant and Equipment | $8.51亿2025-12-31 | $8.54亿 | -0.4% | $8.51亿 | $8.54亿 | -0.4% |
| Deferred Tax Liabilities, Undistributed Foreign Earnings | $1.33亿2025-12-31 | $1.13亿 | +17.7% | $1.33亿 | $1.13亿 | +17.7% |
来源:SEC companyfacts(每份10-Q / 10-K的XBRL)。现金流量表的季度数据由10-Q标记的年初至今累计数推算。分部拆分带有维度标记,在分部章节中单独展示。
数据来源
报表、分部营收、指标和预期均根据公司文件标准化。分部利润及全部披露项目:SEC EDGAR(XBRL)。 已读取的文件: 10-Q 2026-06-30, 10-Q 2026-03-31, 10-K 2025-12-31, 10-Q 2025-09-30, 10-Q 2025-06-30, 10-Q 2025-03-31, 10-K 2024-12-31, 10-Q 2024-09-30, 10-Q 2024-06-30
数据截至 2026-11-02