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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$34.7B
P/E Ratio21.39
ROE15.7%

Investing

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Capital expenditures$132M$179M$88M$98M$110M$139M
(Costs Associated With) Proceeds From Sale Of Assets, Investing Activities-$1.5M$6M$6M$6M$6M—
Payment for (Proceeds from) Other Investing Activity-$6M-$12M——-$11M$28M
Net cash from investing activities-$132M-$167M-$90M-$104M-$75M-$167M
Other investing activities-$6M-$12M——-$11M$28M

Operating

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Change in accounts payable$0-$14M$123M-$198M$130M-$77M
Change in accounts receivable—$99M—$96M—$136M
Change in accrued liabilities$22M$3M-$7M$21M$26M$5M
Change in income taxes payable/receivable-$70M$62M-$91M-$51M—$33M
Change in inventories-$169M$66M$51M$27M—$19M
Change in other assets$46M-$59M-$53M-$35M—$16M
Change in other liabilities$25M-$22M-$56M——$7M
Other working capital changes-$33M-$16M-$17M-$21M-$13M-$18M
Deferred income taxes-$40M-$13M-$14M—-$97M$28M
Depreciation and amortization$150M$136M$142M$141M$138M$143M
Net cash from operating activities$793M$428M$621M$294M$854M$489M
Net income$293M$322M$420M$398M$330M$474M
Income and other taxes-$70M$62M-$91M-$51M—$33M
Accrued compensation and employee benefits$22M$3M-$7M$21M$26M$5M
Increase (Decrease) in Other Operating Assets$46M-$59M-$53M-$35M—$16M
Other Noncash Income (Expense)-$33M-$16M-$17M-$21M-$13M-$18M
Stock-based compensation$54M$44M$37M$25M$30M$29M

Financing

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Net change in commercial paper—$868M-$893M$349M-$470M$870M
Repayments of debt$0$750M———$750M
Dividends paid$393M$392M$393M$398M$398M$398M
Other, net$28M$27M$56M$9M$0-$17M
Proceeds from (repayments of) short-term borrowings, net—$868M-$893M$349M-$470M$870M
Repayments of Senior Debt$0$750M———$750M
Net cash from financing activities-$587M-$310M-$548M-$110M-$869M-$295M
Other financing activities-$37M$27M$56M$9M-$92M-$17M
Repurchases of common stock$121M$63M$64M$70M$0$0

Free Cash Flow

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Free cash flow$661M$249M$533M$196M$744M$350M

Other

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Effect of exchange rate changes on cash-$61M$36M$30M—$13M-$14M
Net increase (decrease) in cash—-$13M$13M$69M-$77M$13M

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$110M$110M$110M$110M—