Income StatementBalance SheetCash FlowSegments
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Kenvue Cash Flow Statement

Operating, investing, and financing cash movements

Kenvue generated $2.3B in operating cash flow over the trailing twelve months. After $435.0M in capital expenditures, free cash flow was $1.8B. Free cash flow increased 0.3% year-over-year. Based on the Q1 2026 filing.

Net Cash From Operating (TTM)$2.3BNet Cash From Investing (TTM)-$436.0MNet Cash From Financing (TTM)-$1.8BCapital Expenditures (TTM)$435.0MDepreciation And Amortization Cf (TTM)$564.0MNet Change In Cash (TTM)$18.0M
Latest FilingQ1 2026
Report Date2026-05-07
Market Cap$33.0B
P/E Ratio20.35
ROE15.7%

Operating

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Other non-cash income (expense)-$33.0M-$16.0M-$17.0M-$21.0M-$13.0M-$18.0M
Other non-cash income (expense)-$33.0M-$16.0M-$17.0M-$21.0M-$13.0M-$18.0M
Other non-cash income (expense)-$33.0M-$16.0M-$17.0M-$21.0M-$13.0M-$18.0M
Change in accounts payable$0.0-$14.0M$123.0M-$198.0M$130.0M-$77.0M
Change in accounts receivable—$99.0M-$48.0M$96.0M—$136.0M
Change in accrued liabilities$22.0M$3.0M-$7.0M$21.0M$26.0M$5.0M
Change in income taxes payable/receivable-$70.0M$62.0M-$91.0M-$51.0M—$33.0M
Change in inventories-$169.0M$66.0M$51.0M$27.0M—$19.0M
Change in other assets$46.0M-$59.0M-$53.0M-$35.0M—$16.0M
Change in other liabilities$25.0M-$22.0M-$56.0M$9.0M—$7.0M
Other working capital changes-$2.0M-$16.0M-$17.0M-$21.0M-$13.0M-$18.0M
Deferred income taxes-$40.0M-$13.0M-$14.0M$16.0M-$97.0M$28.0M
Depreciation and amortization$150.0M$136.0M$142.0M$141.0M$138.0M$143.0M
Other Non-Cash Income (Expense)-$33.0M-$16.0M-$17.0M-$21.0M-$13.0M-$18.0M
Other Non-cash Income (Expense)-$33.0M-$16.0M-$17.0M-$21.0M-$13.0M-$18.0M
Other Non-cash Income (Expense)-$33.0M-$16.0M-$17.0M-$21.0M-$13.0M-$18.0M
Net cash from operating activities$793.0M$428.0M$621.0M$294.0M$854.0M$489.0M
Net income$293.0M$322.0M$420.0M$398.0M$330.0M$474.0M
Other non-cash income (expense)-$33.0M-$16.0M-$17.0M-$21.0M-$13.0M-$18.0M
Income and other taxes-$70.0M$62.0M-$91.0M-$51.0M—$33.0M
Accrued compensation and employee benefits$22.0M$3.0M-$7.0M$21.0M$26.0M$5.0M
Increase (Decrease) in Other Operating Assets$46.0M-$59.0M-$53.0M-$35.0M—$16.0M
Other Noncash Income (Expense)-$33.0M-$16.0M-$17.0M-$21.0M-$13.0M-$18.0M
Other Non-cash Income and Expense-$33.0M-$16.0M-$17.0M-$21.0M-$13.0M-$18.0M
Other Non-Cash Adjustments-$33.0M-$16.0M-$17.0M-$21.0M-$13.0M-$18.0M
Other Non-Cash Income and Expense-$33.0M-$16.0M-$17.0M-$21.0M-$13.0M-$18.0M
Stock-based compensation$54.0M$44.0M$37.0M$25.0M$30.0M$29.0M

Investing

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Capital expenditures$132.0M$179.0M$88.0M$98.0M$110.0M$139.0M
(Costs Associated With) Proceeds From Sale Of Assets, Investing Activities-$1.5M$6.0M$6.0M$6.0M$6.0M—
Payment for (Proceeds from) Other Investing Activity-$6.0M-$12.0M$2.0M$6.0M-$11.0M$28.0M
Net cash from investing activities-$132.0M-$167.0M-$90.0M-$104.0M-$75.0M-$167.0M
Other investing activities-$6.0M-$12.0M$2.0M$6.0M-$11.0M$28.0M

Financing

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Net change in commercial paper—$868.0M-$893.0M$349.0M-$470.0M$870.0M
Repayments of debt$0.0$750.0M$0.0$0.0$0.0$750.0M
Dividends paid$393.0M$392.0M$393.0M$398.0M$398.0M$398.0M
Other, net$28.0M$27.0M$56.0M$9.0M$0.0-$17.0M
Proceeds from (repayments of) short-term borrowings, net$39.3M$868.0M-$893.0M$349.0M-$470.0M$870.0M
Repayments of Senior Debt$0.0$750.0M$0.0$0.0$0.0$750.0M
Payment of Deferred Purchase Consideration$0.0$27.0M$56.0M$9.0M-$92.0M-$17.0M
Noncontrolling interest transactions and other$28.0M$27.0M$56.0M$9.0M$0.0-$17.0M
Net cash from financing activities-$587.0M-$310.0M-$548.0M-$110.0M-$869.0M-$295.0M
Other financing activities$0.0$27.0M$56.0M$9.0M-$92.0M-$17.0M
Noncontrolling Interests Activity and Other$28.0M$27.0M$56.0M$9.0M$0.0-$17.0M
Repurchases of common stock$121.0M$63.0M$64.0M$70.0M$0.0$0.0

Free Cash Flow

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Free cash flow$661.0M$249.0M$533.0M$196.0M$744.0M$350.0M

Other

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Effect of exchange rate changes on cash-$61.0M$36.0M$30.0M-$11.0M$13.0M-$14.0M
Net increase (decrease) in cash$0.0-$13.0M$13.0M$69.0M-$77.0M$13.0M

Supplemental

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Income taxes paid$202.5M$148.8M$148.8M$148.8M$148.8M—
Interest paid$109.8M$110.0M$110.0M$110.0M$110.0M—