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Kenvue (KVUE) earnings and revenue breakdown

Latest: Q3 2026 · 10-Q filed Oct 30, 2026 · Kenvue (KVUE) Q3 2026 earnings results →

Q3 2026 Revenue up 3% year over year to $3.9B · 11¢ of every $1 of revenue kept as net profit · operating margin 18.2%

Kenvue made $3.9B in Q3 2026 (+3% Y/Y): Self Care $1.7B, Essential Health $1.2B, Skin Health and Beauty $1.0B. Operating margin 18.2%, net earnings $430M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Oct 30, 2026.

Revenue$3.9B
Year over year+3%
Operating margin18.2%
Net earnings$430M
Operating cash flow$700M

Drawing the Sankey…

Open the interactive Sankey → click any line for what the company wrote about it, compare Y/Y and Q/Q, export as PNG or PDF

Kenvue Q3 2026 revenue breakdown: Sankey diagram of revenue (Self Care, Essential Health, Skin Health and Beauty), costs, profit and cash flow
Kenvue Q3 2026 revenue breakdown — free to use with credit and a link (terms). Share on X
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What changed this quarter

Revenue was $3.9B in Q3 2026, up 3% year over year and down 2% from the previous quarter. Self Care was the largest line at 43% of revenue. Self Care added $0.09B year over year (up 6%), 75% of the total change.

Gross margin was 59.5%, up 0.4 points from Q3 2025. Operating profit was $0.71B, a 18.2% margin (up 1.5 points year over year). Of the extra revenue versus Q3 2025, 63% reached operating profit, above the 17% margin then. Operating expenses grew 1% against revenue growth of 3%. Net earnings were $0.43B, up 8% year over year. The effective tax rate was 29.4%.

Operating cash flow was $0.70B (up 138% year over year), 163% of net earnings. Non-cash charges added back $0.14B of depreciation and amortization and $0.03B of share-based compensation. Working capital and other items added $0.10B. Capital expenditures of $0.08B left free cash flow of $0.62B.

Quarterly history

Kenvue revenue by quarterKenvue revenue by quarter$3.7BQ1 2025$3.8BQ2 2025$3.8BQ3 2025$3.8BQ4 2025$3.9BQ1 2026$4.0BQ2 2026$3.9BQ3 2026
Kenvue net earnings by quarterKenvue net earnings by quarter$322MQ1 2025$420MQ2 2025$398MQ3 2025$330MQ4 2025$474MQ1 2026$456MQ2 2026$430MQ3 2026
QuarterFormFiledRevenueY/YOp. marginNet earningsOp. cash flow
Q3 202610-QOct 30, 2026$3.9B+3%18.2%$430M$700M
Q2 202610-QAug 6, 2026$4.0B+3%17.7%$456M$688M
Q1 202610-QMay 7, 2026$3.9B+4%19.6%$474M$489M
Q4 202510-KFeb 20, 2026$3.8B+3%14.2%$330M$854M
Q3 202510-QNov 3, 2025$3.8B-4%16.7%$398M$294M
Q2 202510-QAug 7, 2025$3.8B-4%18.0%$420M$621M
Q1 202510-QMay 8, 2025$3.7B-4%14.9%$322M$428M

Charts

Kenvue: revenue growth, year over year and quarter over quarterKenvue: revenue growth, year over year and quarter over quarterY/YQ/Q-4%Q1 2025-4%+3%Q2 2025-4%-2%Q3 2025+3%+0%Q4 2025+4%+3%Q1 2026+3%+1%Q2 2026+3%-2%Q3 2026
Latest (Q3 2026): Y/Y +3%, Q/Q -2%.
Kenvue: where the cash came from (+) and went (−), TTM to Q3 2026Kenvue: where the cash came from (+) and went (−), TTM to Q3 2026Operating cash flow$2.7BDividends−$1.6BOther financing−$747MCapital spending−$393MCash drawn (+) / kept (−)$100MNet borrowing (+) / repaid (−)−$86.0MOther investing−$6.0MExchange rates−$2.0M
From the cash-flow statement as filed (SEC XBRL). Cash is fungible: the bars do not say which dollar paid for what.
Kenvue: profit against cash, quarter by quarterKenvue: profit against cash, quarter by quarterNet incomeOperating cash flow$293M$793MQ4 2024$322M$428MQ1 2025$420M$621MQ2 2025$398M$294MQ3 2025$330M$854MQ4 2025$474M$489MQ1 2026$456M$688MQ2 2026$430M$700MQ3 2026
Latest (Q3 2026): Net income $430M, Operating cash flow $700M.
Kenvue: diluted shares by fiscal yearKenvue: diluted shares by fiscal year1.72BFY20211.72BFY20221.85BFY20231.92BFY20241.92BFY2025
+12.1% since FY2021: more shares outstanding (issuance, stock pay).
Kenvue: long-term debt falling due (FY2025)Kenvue: long-term debt falling due (FY2025)$750M2026$1.0B2028$1.0B2030$5.0BLater
Cash $1.1B, short-term investments —, long-term debt $7.8B at 2025-12-28.
Kenvue in its industry: growth against margin (15 companies, SIC 2844)Kenvue in its industry: growth against margin (15 companies, SIC 2844)revenue growth, year over year →↑ operating marginmedian +3%median 7%CLELCOTYEPCELFIPARSLSNAXILYCBDUGBNKKDQWSKARXSHFHKVUE (+3%, 18%)
Perfumes, Cosmetics & Other Toilet Preparations; dot size is quarterly revenue; dashed lines are the industry's medians.

Interactive views

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💵Where each $1 goesinteractive

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🌏Named in Asian annual reportsinteractive

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🔄Rotation against the market and its industry (RRG)interactive

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🔍Earnings qualityinteractive

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⚖️Fair value by methodinteractive

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🔭Outlook & guidanceinteractive

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📈Investments: gains and what it boughtinteractive

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🏭Its industry’s money flow (input-output)interactive

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About Kenvue

At Kenvue, our purpose is to realize the extraordinary power of everyday care. As a global leader at the intersection of healthcare and consumer goods, we are the world’s largest pure-play consumer health company by revenue with $15.1 billion in Net sales in the fiscal year 2025. By combining the power of science with meaningful consumer insights and our digital strategy, we empower consumers to live healthier lives every day. Built on more than a century of heritage and trusted by generations, our differentiated portfolio of iconic brands—including Aveeno ® , BAND-AID ® Brand, Johnson’s ® , Listerine ® , Neutrogena ® , Nicorette ® , Tylenol ® , and Zyrtec ® —is backed by science and recommended by healthcare professionals, which further reinforces our consumers’ connections to our brands.

In its own words, from its 10-K, filed Feb 20, 2026.

Kenvue against its Perfumes, Cosmetics & Other Toilet Preparations peers

The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: +3% against the peers' median +2%. Operating margin: 18.2% against the peers' median 11.0%.

CompanyQuarterRevenueY/YOp. margin
KVUE KenvueQ3 2026$3.9B+3%18.2%
CL Colgate PalmoliveQ3 2026$5.4B+5%20.3%
EL Estee Lauder CompaniesQ1 FY27$3.7B+7%11.0%
COTY CotyQ1 FY27$1.6B-1%11.0%
EPC Edgewell Personal CareQ3 FY26$570M+2%4.4%
ELF e.l.f. BeautyQ2 FY27$521M+51%10.1%
IPAR InterparfumsQ3 2026$430M0%27.4%
SLSN SolesenceQ2 2026$15.3M-25%0.8%
AXIL Axil BrandsQ1 FY27$6.1M-11%7.2%

Source: Kenvue 10-Q on SEC EDGAR · CIK 1944048 · Perfumes, Cosmetics & Other Toilet Preparations

Guidance and outlook

Kenvue: what its forward-looking statements are about (10-Q filed 2026-10-30)Kenvue: what its forward-looking statements are about (10-Q filed 2026-10-30)Other3Costs3People2Financing1Buybacks & dividends1Capital spending1
11 statements; tone -0.09 (−1 all cautious, +1 all confident); 2 hedged.
Kenvue: outlook statements against the filing beforeKenvue: outlook statements against the filing beforeConfident2Cautious3

13F: who owns KVUE and who is buying

Largest holders of KVUE (13F)Largest holders of KVUE (13F)Vanguard Group$4.1BFMR LLC$3.0BBlackRock$2.9BVanguard Capital Management LLC$2.4BState Street$2.3BVanguard Portfolio Management LLC$1.8BGeode Capital Management, LLC$990MPentwater Capital Management LP$977MIndependent Franchise Partners LLP$964MMassachusetts Financial Services$862M
Funds' net buying of KVUE by quarter (13F)Funds' net buying of KVUE by quarter (13F)−$517M2024-09$250M2024-12−$295M2025-03$97.0M2025-06−$949M2025-09−$1.1B2025-12−$526M2026-03$345M2026-06
Value of shares 13F filers added minus the value they sold, each quarter (quarters with most filings in).

More on KVUE

History

Every quarter: Q3 2026 results · Q2 2026 results · Q1 2026 results · Q4 2025 results · Q3 2025 results · Q2 2025 results · Q1 2025 results

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