Estée Lauder Companies vs Kenvue
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The short version
- Kenvue is the larger business, with $15.1B of revenue in fiscal 2025 against $15.0B for Estée Lauder Companies.
- Estée Lauder Companies grew revenue faster (5.1%, against −2.1%).
- Kenvue kept more of each dollar of sales as operating profit (16.0% operating margin, against 5.2%).
- Kenvue turned more of its sales into free cash flow (11.4% FCF margin, against 8.7%).
- Kenvue earned a higher return on the capital invested in it (10.0%, against 4.9%).
| Latest fiscal year | EL · FY26 | KVUE · FY25 |
|---|---|---|
| Size | ||
| Market cap | $39.6B | $37.6B |
| Revenue | $15.0B | $15.1B |
| Free cash flow | $1.3B | $1.7B |
| Net income | $182M | $1.5B |
| Growth | ||
| Revenue growth | 5.1% | −2.1% |
| 5-year growth | −1.5% | — |
| Share count change | 1.3% | 0.1% |
| Profitability | ||
| Gross margin | 75.5% | 58.1% |
| Operating margin | 5.2% | 16.0% |
| Net margin | 1.2% | 9.7% |
| FCF margin | 8.7% | 11.4% |
| Return on capital | 4.9% | 10.0% |
| Return on equity | 4.8% | 14.4% |
| Balance sheet | ||
| Net debt | $3.8B | $7.5B |
| Net debt / EBITDA | 2.4x | 2.5x |
| Dividends and buybacks | $578M | $1.8B |
| Valuation & quality | ||
| P/E | — | 22.5x |
| Piotroski F-score | 6 | 6 |
Revenue
FY17
EL $11.8B
KVUE —
FY18
EL $13.7B
KVUE —
FY19
EL $14.9B
KVUE —
FY20
EL $14.3B
KVUE —
FY21
EL $16.2B
KVUE $15.1B
FY22
EL $17.7B
KVUE $15.0B
FY23
EL $15.9B
KVUE $15.4B
FY24
EL $15.6B
KVUE $15.5B
FY25
EL $14.3B
KVUE $15.1B
FY26
EL $15.0B
KVUE —
EL
KVUE
Operating margin
FY17
EL 14.4%
KVUE —
FY18
EL 15.0%
KVUE —
FY19
EL 15.6%
KVUE —
FY20
EL 4.2%
KVUE —
FY21
EL 16.2%
KVUE 19.4%
FY22
EL 17.9%
KVUE 17.9%
FY23
EL 9.5%
KVUE 16.3%
FY24
EL 6.2%
KVUE 11.9%
FY25
EL −5.5%
KVUE 16.0%
FY26
EL 5.2%
KVUE —
EL
KVUE
Free cash flow
FY17
EL $1.3B
KVUE —
FY18
EL $1.9B
KVUE —
FY19
EL $1.8B
KVUE —
FY20
EL $1.7B
KVUE —
FY21
EL $3.0B
KVUE $39.0M
FY22
EL $2.0B
KVUE $2.2B
FY23
EL $728M
KVUE $2.7B
FY24
EL $1.4B
KVUE $1.3B
FY25
EL $670M
KVUE $1.7B
FY26
EL $1.3B
KVUE —
EL
KVUE
Return on capital
FY17
EL 24.8%
KVUE —
FY18
EL 19.7%
KVUE —
FY19
EL —
KVUE —
FY20
EL —
KVUE —
FY21
EL 38.4%
KVUE —
FY22
EL 36.6%
KVUE —
FY23
EL 13.1%
KVUE 10.4%
FY24
EL 5.3%
KVUE 7.6%
FY25
EL −6.9%
KVUE 10.0%
FY26
EL 4.9%
KVUE —
EL
KVUE
Each company's latest fiscal year; fiscal years end in different months. The best value in each row is highlighted where higher (or lower) is clearly better. Not investment advice.