Kenvue Inc. (KVUE)财务
NYSE · Consumer Defensive · Household & Personal Products · 员工21,890人 · CEO Kirk L. Perry
- 股价
- $19.31 -1.28%
- 市值
- $371亿
- 企业价值
- $444亿
- 最近财报
- Q3 '26 2026-10-30提交
- 下次财报
- 2027-02-16 EPS预期 $0.28
营收(TTM)$155亿+3.5% 对比去年同期最近4个季度;柱状图=各季度
营业利润率(TTM)19.9%+4.1 百分点 对比去年同期营业利润 $30.9亿
净利润(TTM)$16.9亿+17.9% 对比去年同期税后,含营业外收益
自由现金流(TTM)$25.4亿+55.0% 对比去年同期资本支出 $1.9亿
稀释EPS(TTM)$0.88+17.3% 对比去年同期最近4个季度之和
净现金-$73亿+8.4% 对比去年同期现金 + 短期投资 - 债务
估值与关键数据
- 市值
- $371亿 EV $444亿
- 营收
- $155亿 过去12个月
- 营收增速
- +3% FY2026年一致预期
- 净利润率
- 10.9% 净利润 / 营收,TTM
- P/E
- 21.9× 预期 16.4×(FY2026)
- P/S
- 2.4× 股价 / 营收,TTM
- EV / EBITDA
- 13.6× TTM
- 自由现金流
- $25.4亿 过去12个月
- 净利润
- $16.9亿 过去12个月
- 营收预期
- $156亿 FY2026年一致预期
- 盈利
- 2027-02-16 营收预期 $38.8亿
- 股息
- $0.83 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(2026-10-30):营收超预期0.6%,EPS 低于预期0.5%营收$38.9亿,预期$38.6亿(+0.6%);EPS $0.29,预期$0.29(-0.5%)。
- 营收增长加速:同比3.2%Q3 '26营收$38.9亿,此前四个季度的平均值为1.8%。
- 营业利润率19.9%(TTM),较去年同期+4.1 百分点营收增长3.5%,营业利润增长30.6%。
- 税前利润的33.8%被营业外亏损吞噬税前利润$23.1亿,营业利润$30.9亿(TTM)。股权投资亏损等一次性项目压低了净利润和EPS,营业利润更能反映业务本身。
- 资本支出占营收的1.2%(去年为3.3%)最近4个季度投入$1.9亿(同比-61.7%)。自由现金流$25.4亿,相当于净利润的150.3%。
- 股东回报$1600万 = 自由现金流的0.6%回购$0(去年为$3.18亿),股息$1600万,股权激励$5900万(TTM)。
- 稀释股数一年内增加0.2%Q3 '26稀释股数19.3亿,一年前为19.2亿。
- 净债务 $73亿现金 + 短期投资 $10.4亿,含租赁债务 $83.4亿;一年前净债务 $79.7亿。
上一季度:Q3 '26
截至2026-09-27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
| Q3 '26 | 去年同期 | 变化 | |
|---|---|---|---|
| 营收 | $38.9亿 | $37.6亿 | +3.2% |
| 毛利率 | 59.5% | 59.1% | +0.4 百分点 |
| 营业利润 | $7.06亿 | $6.29亿 | +12.2% |
| 营业利润率 | 18.2% | 16.7% | +1.5 百分点 |
| 净利润 | $4.3亿 | $3.98亿 | +8.0% |
| 稀释EPS | $0.22 | $0.21 | +4.8% |
| 经营现金流 | $7亿 | $2.94亿 | +138.1% |
| 资本支出 | $8000万 | $9800万 | -18.4% |
| 自由现金流 | $6.2亿 | $1.96亿 | +216.3% |
| R&D | $9600万 | $0 | – |
| 股权激励费用 | $2900万 | $2500万 | +16.0% |
实际 vs 一致预期
2026-10-30| 实际 | 一致预期 | 对比预期 | |
|---|---|---|---|
| 营收 | $38.9亿 | $38.6亿 | +0.6% |
| EPS(一致预期口径) | $0.29 | $0.29 | -0.5% |
来自2026-10-30发布的Q3 '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 | Q3 '26 | 同比 | 占比 | TTM | TTM同比 | 12个季度 |
|---|---|---|---|---|---|---|
| Self Care | $16.6亿 | +5.9% | 42.6% | $65.4亿 | +2.8% | |
| Essential Health | $11.9亿 | +2.5% | 30.6% | $47.4亿 | +3.9% | |
| Skin Health and Beauty | $10.4亿 | +0.1% | 26.7% | $42.5亿 | +4.1% |
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
- $27.3亿
- 资本支出
- -$1.9亿
- 股票回购
- $0
- 股息
- -$1600万
- 收购
- $0
- 债务净发行
- -$1.47亿
- 股权激励费用
- $5900万
- 自由现金流
- $25.4亿
- 股东回报 / FCF
- 0.6%
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) | 21.9× | 27.0× | 22.3× – 39.2× |
| EV / EBITDA | 13.6× | 16.0× | 13.7× – 19.5× |
| EV / 营收 | 2.9× | 3.2× | 2.7× – 4.0× |
| 股价 / FCF | 14.6× | 278.2× | 14.7× – 1,302.9× |
| 股价 / 净资产 | 3.7× | 3.2× | 2.5× – 4.2× |
| FCF收益率 | 6.9% | 3.9% | 0.1% – 6.8% |
| 投入资本回报率 | 10.5% | 8.2% | 6.2% – 8.9% |
| 净资产收益率 | 16.1% | 11.9% | 10.2% – 14.8% |
分析师
一致目标价 $19.50 (+1.0%)
区间 $19.00 – $20.00 · 评级 Hold
强烈买入0
买入4
持有10
卖出0
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 | $156亿 | +3.2% | $1.17 | +54.5% | 16.4× | 7 |
| FY2027 | $160亿 | +2.3% | $1.24 | +5.9% | 15.5× | 8 |
| FY2028 | $165亿 | +3.2% | $1.33 | +7.1% | 14.5× | 3 |
| FY2029 | $171亿 | +3.5% | $1.43 | +7.3% | 13.5× | 1 |
| FY2030 | $174亿 | +2.2% | $1.43 | -0.1% | 13.5× | 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
Kenvue Inc.在近期10-Q / 10-K文件中标记的全部341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 | $26.9亿 | $24.5亿 | +9.8% | $24.7亿 | $22.5亿 | +9.7% |
| Accounts Receivable, after Allowance for Credit Loss, Current | $25亿 | $24.2亿 | +3.6% | $23.8亿 | $21.7亿 | +10.0% |
| Accounts Receivable, Allowance for Credit Loss, Current | $1500万 | $2500万 | -40.0% | $2600万 | $2600万 | 0.0% |
| Accounts Receivable, Allowance for Credit Loss, Writeoff | – | – | – | $1200万 | $400万 | +200.0% |
| Accounts Receivable, Credit Loss Expense (Reversal) | – | – | – | $1100万 | $600万 | +83.3% |
| Accrued Income Taxes, Current | $1.18亿 | $1.03亿 | +14.6% | $1.05亿 | $7400万 | +41.9% |
| Accrued Income Taxes, Noncurrent | $2.46亿 | $2.13亿 | +15.5% | $2.19亿 | $1.85亿 | +18.4% |
| Accrued Liabilities, Current | $15.2亿 | $9.58亿 | +58.9% | $11.6亿 | $11.3亿 | +2.4% |
| Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment | $30.2亿2025-12-28 | $27亿 | +11.8% | $30.2亿 | $27亿 | +11.8% |
| Accumulated Other Comprehensive Income (Loss), Net of Tax | -$54.1亿 | -$51.3亿 | -5.4% | -$49.6亿 | -$61.5亿 | +19.3% |
| Additional Paid in Capital | $164亿 | $163亿 | +0.7% | $163亿 | $161亿 | +1.4% |
| Advertising Expense | – | – | – | $18.4亿 | $18.7亿 | -1.8% |
| Amortization of Intangible Assets | $6400万 | $6600万 | -3.0% | $2.57亿 | $2.69亿 | -4.5% |
| Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 5600万 | 5000万 | +12.0% | 5400万 | 5200万 | +3.8% |
| APIC, Share-based Payment Arrangement, Increase for Cost Recognition | $2900万 | $2500万 | +16.0% | $1.36亿 | $2.54亿 | -46.5% |
| Asset Impairment Charges | $2300万2025-12-28 | $0 | – | $2300万 | $5.78亿 | -96.0% |
| Assets | $267亿 | $272亿 | -2.1% | $271亿 | $256亿 | +5.8% |
| Assets for Plan Benefits, Defined Benefit Plan | $8600万2025-12-28 | $8400万 | +2.4% | $8600万 | $8400万 | +2.4% |
| Assets, Current | $59.4亿 | $60.3亿 | -1.5% | $57亿 | $55.3亿 | +3.1% |
| Cash and Cash Equivalents, at Carrying Value | $10.4亿 | $11.4亿 | -8.8% | $10.6亿 | $10.7亿 | -0.7% |
| Cash Equivalents, at Carrying Value | $1.3亿 | $1.45亿 | -10.3% | $7900万 | $1.18亿 | -33.1% |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents | $10.4亿 | $11.4亿 | -8.8% | $10.6亿 | $10.7亿 | -0.7% |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect | -$7100万 | $6900万 | -202.9% | -$800万 | -$3.12亿 | +97.4% |
| Commercial Paper | $11.2亿 | $11.6亿 | -3.4% | $7亿 | $8亿 | -12.5% |
| Common Stock, Dividends, Per Share, Cash Paid | $0.42 | $0.21 | +102.4% | $0.83 | $0.81 | +1.9% |
| Common Stock, Par or Stated Value Per Share | $0.01 | $0.01 | 0.0% | $0.01 | $0.01 | 0.0% |
| Common Stock, Shares Authorized | 125亿 | 125亿 | 0.0% | 125亿 | 125亿 | 0.0% |
| Common Stock, Shares, Issued | 19.4亿 | 19.4亿 | +0.3% | 19.4亿 | 19.2亿 | +0.6% |
| Common Stock, Shares, Outstanding | 19.2亿 | 19.2亿 | +0.3% | 19.2亿 | 19.1亿 | +0.1% |
| Common Stock, Value, Issued | $1900万 | $1900万 | 0.0% | $1900万 | $1900万 | 0.0% |
| Comprehensive Income (Loss), Net of Tax, Attributable to Parent | $3.76亿 | $3.4亿 | +10.6% | $26.6亿 | $2.61亿 | +918.0% |
| Concentration Risk, Percentage | 100.0% | 100.0% | 0.0% | 100.0% | 100.0% | 0.0% |
| Cost of Goods and Services Sold | $15.7亿 | $15.4亿 | +2.2% | $63.3亿 | $65亿 | -2.5% |
| Current Federal Tax Expense (Benefit) | – | – | – | $1.48亿 | $2.87亿 | -48.4% |
| Current Federal, State and Local, Tax Expense (Benefit) | – | – | – | $2.01亿 | $2.87亿 | -30.0% |
| Current Foreign Tax Expense (Benefit) | – | – | – | $4.36亿 | $3.83亿 | +13.8% |
| Current Income Tax Expense (Benefit) | – | – | – | $6.37亿 | $6.7亿 | -4.9% |
| Current State and Local Tax Expense (Benefit) | – | – | – | $5300万 | – | – |
| Debt Instrument, Unamortized Discount (Premium) and Debt Issuance Costs, Net | $5800万 | $6500万 | -10.8% | $6300万 | $6400万 | -1.6% |
| Debt Issuance Costs, Net | – | – | – | $6400万2024-12-29 | $7200万 | -11.1% |
| Debt, Current | $11.2亿 | $19.1亿 | -41.4% | $14.5亿 | $15.5亿 | -6.4% |
| Debt, Long-term and Short-term, Combined Amount | $82.1亿 | $89.7亿 | -8.5% | $85.2亿 | $86.1亿 | -1.0% |
| Deferred Federal Income Tax Expense (Benefit) | – | – | – | -$5000万 | -$1.78亿 | +71.9% |
| Deferred Federal, State and Local, Tax Expense (Benefit) | – | – | – | -$9000万 | -$1.78亿 | +49.4% |
| Deferred Foreign Income Tax Expense (Benefit) | – | – | – | -$1800万 | -$1.07亿 | +83.2% |
| Deferred Income Tax Assets, Net | $2.44亿 | $2.37亿 | +3.0% | $2.37亿 | $1.84亿 | +28.8% |
| Deferred Income Tax Expense (Benefit) | -$1300万 | $1600万 | -181.3% | -$1.08亿 | -$2.85亿 | +62.1% |
| Deferred Income Tax Liabilities, Net | $23亿 | $24.3亿 | -5.3% | $23.5亿 | $22.6亿 | +4.1% |
| Deferred Income Taxes and Other Tax Liabilities, Noncurrent | $1.25亿 | $1.51亿 | -17.2% | $1.35亿 | $1.43亿 | -5.6% |
| Deferred State and Local Income Tax Expense (Benefit) | – | – | – | -$4000万 | – | – |
| Deferred Tax Assets, Gross | $5.9亿2025-12-28 | $5.6亿 | +5.4% | $5.9亿 | $5.6亿 | +5.4% |
| Deferred Tax Assets, Net of Valuation Allowance | $5.17亿2025-12-28 | $4.71亿 | +9.8% | $5.17亿 | $4.71亿 | +9.8% |
| Deferred Tax Assets, Operating Loss Carryforwards | $7700万2025-12-28 | $6400万 | +20.3% | $7700万 | $6400万 | +20.3% |
| Deferred Tax Assets, Other | $6700万2025-12-28 | $6600万 | +1.5% | $6700万 | $6600万 | +1.5% |
| Deferred Tax Assets, Property, Plant and Equipment | $1500万2025-12-28 | $200万 | +650.0% | $1500万 | $200万 | +650.0% |
| Deferred Tax Assets, Tax Credit Carryforwards | $1.01亿2025-12-28 | $5800万 | +74.1% | $1.01亿 | $5800万 | +74.1% |
| Deferred Tax Assets, Tax Deferred Expense, Compensation and Benefits, Employee Benefits | $3400万2025-12-28 | $1800万 | +88.9% | $3400万 | $1800万 | +88.9% |
| Deferred Tax Assets, Tax Deferred Expense, Compensation and Benefits, Share-based Compensation Cost | $6300万2025-12-28 | $7000万 | -10.0% | $6300万 | $7000万 | -10.0% |
| Deferred Tax Assets, Tax Deferred Expense, Reserves and Accruals | $1.2亿2025-12-28 | $1.1亿 | +9.1% | $1.2亿 | $1.1亿 | +9.1% |
| Deferred Tax Assets, Valuation Allowance | $7300万2025-12-28 | $8900万 | -18.0% | $7300万 | $8900万 | -18.0% |
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、预期:Financial Modeling Prep。分部利润及全部披露项目:SEC EDGAR(XBRL)。 已读取的文件: 10-Q 2026-09-27, 10-Q 2026-06-28, 10-Q 2026-03-29, 10-K 2025-12-28, 10-Q 2025-09-28, 10-Q 2025-06-29, 10-Q 2025-03-30, 10-K 2024-12-29, 10-Q 2024-09-29
数据截至 2026-11-01