Kimberly-Clark
KMB Nasdaq Household Products Financials FY2016–FY2025
Kimberly-Clark's revenue fell 2.1% to $16.4 billion in fiscal 2025. Its operating margin was 14.3%, down from 16.1% a year earlier. Free cash flow was $1.6 billion, down 34.8%. It paid out $1.8 billion in dividends and buybacks, 110% of free cash flow. The diluted share count fell 1.1%.
About these figures. Total debt is the balance sheet's long-term debt plus its current debt line. Kimberly-Clark's figures from 2023 are as restated in its 2025 annual report, which reports a business being sold separately; earlier years include that business, so the change from 2022 to 2023 compares different businesses.
What Kimberly-Clark does
Kimberly-Clark makes and sells everyday paper and personal care products, including Huggies diapers, Kleenex tissues, Scott and Cottonelle bathroom tissue, Kotex and Poise pads, and Depend underwear for adults. It sells in more than 175 countries and territories. It groups its products into five categories: baby and child care, adult care, feminine care, family care and professional.
Household products go to supermarkets, mass merchandisers, drugstores, warehouse clubs and online stores. Products for professional use go through distributors and directly to businesses such as hotels, factories and food service operations. Its largest customer is Walmart. The company reports two segments by region: North America and International Personal Care. It says it has several major competitors, some larger and more diversified than itself.
Two deals are pending. Kimberly-Clark plans to sell a majority of its international family care and professional business to Suzano, a Brazilian company, forming a joint venture: Suzano will buy a 51% stake for about $1.7 billion and Kimberly-Clark will keep the rest. It has also agreed to buy Kenvue, a consumer health company, for stock and cash.
- Legal name
- KIMBERLY-CLARK CORPORATION
- Fiscal year ends
- December 31, 2025
- Latest annual report
- 10-K · Feb 12, 2026
- Accession · CIK
- 0001628280-26-007567
0000055785
Revenue and margins
Kimberly-Clark had $16.4B of revenue in fiscal 2025, down 2.1% on the year before.
Net income and earnings per share
From fiscal 2016 to 2025, diluted EPS grew 0.1% a year. Loss periods are shown in red.
Returns on capital
After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
Cash flow
Free cash flow was $1.6B in fiscal 2025, 10.0% of revenue. Cash from operations minus capital spending.
Dividends, buybacks and share count
Kimberly-Clark returned $1.8B to shareholders in fiscal 2025, 110% of free cash flow. The diluted share count fell 1.1%.
Value Kimberly-Clark yourself
Change the assumptions and see what they imply per share. These are models, not forecasts or price targets — the answer depends entirely on what you put in.
Discounted cash flow
Value per share
—
Adds net cash of −$6.5B and divides by 333.2M diluted shares. Ten years of cash flows plus a terminal value, discounted to today.
Earnings multiple
Value per share
—
Reference multiples: today 18.7x · peers 25.3x · sector 24.7x.
Balance sheet
Cash, debt and the ratios that show how comfortably Kimberly-Clark can carry it.
| Fiscal year end | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Cash and short-term investments | $270M | $427M | $1.1B | $1.0B | $688M |
| Debt incl. finance leases | $8.6B | $8.4B | $8.0B | $7.4B | $7.2B |
| Net debt / EBITDA | 2.5x | 2.3x | 2.6x | 1.8x | 2.1x |
| Debt / equity | — | — | 8.7x | 8.8x | 4.8x |
| Interest coverage | 10.0x | 9.5x | 6.6x | 10.0x | 9.2x |
| Current ratio | 0.8x | 0.8x | 0.8x | 0.8x | 0.8x |
| Quick ratio | 0.5x | 0.5x | 0.5x | 0.6x | 0.5x |
| Total assets | $17.8B | $18.0B | $17.3B | $16.5B | $17.1B |
| Total liabilities | $17.1B | $17.3B | $16.3B | $15.6B | $15.5B |
| Shareholders' equity | $514M | $547M | $915M | $840M | $1.5B |
| Net debt (− = net cash) | $8.3B | $8.0B | $6.9B | $6.4B | $6.5B |
Insider trades
Open-market purchases and sales by officers, directors and 10% owners, from Form 4 filings. 'Plan' marks trades under a pre-arranged Rule 10b5-1 plan.
Bought, 12 months
$1.0M
1 insider
Sold, 12 months
$1.0M
2 insiders
Of sales under plans
0%
$0.0M
| Date | Insider | Trade | Shares | Price | Value | Filing |
|---|---|---|---|---|---|---|
| May 6, 2026 | Andrew ScribnerController, VP & Fp&a | Sold | 4,095 | $98.00 | $0.4M | Form 4 |
| May 4, 2026 | Katy ChenPresident, Int'l Personal Care | Sold | 1,596 | $95.34 | $0.2M | Form 4 |
| Apr 30, 2026 | Katy ChenPresident, Int'l Personal Care | Sold | 1,405 | $96.96 | $0.1M | Form 4 |
| Feb 9, 2026 | Todd MaclinDirector | Bought | 10,000 | $104.15 | $1.0M | Form 4 |
| Feb 5, 2026 | Andrew ScribnerController, VP & Fp&a | Sold | 3,049 | $104.29 | $0.3M | Form 4 |
Piotroski F-score
Nine pass/fail tests of profitability, funding and efficiency. 8–9 is strong, 0–2 weak.
| Test | FY23 | FY24 | FY25 |
|---|---|---|---|
| Net income is positive | ✓ | ✓ | ✓ |
| Cash from operations is positive | ✓ | ✓ | ✓ |
| Return on assets rose | ✕ | ✓ | ✕ |
| Cash from operations exceeds net income | ✓ | ✓ | ✓ |
| Debt fell relative to assets | ✓ | ✓ | ✓ |
| Current ratio rose | ✓ | ✕ | ✕ |
| Share count didn't rise | ✕ | ✓ | ✓ |
| Gross margin rose | ✓ | ✓ | ✕ |
| Revenue rose relative to assets | ✕ | ✓ | ✓ |
| F-score | 6 / 9 | 8 / 9 | 6 / 9 |
| Accruals ratio | −10.1% | −4.1% | −4.5% |
| Altman Z'' | 1.92 | 2.42 | 2.17 |
Similar companies
Each company's latest fiscal year. Fiscal years end in different months, so periods don't line up exactly.
| Company | Market cap | Growth | Op. margin | FCF margin | ROIC | P/E | F-score | |
|---|---|---|---|---|---|---|---|---|
| Kimberly-Clark KMB | $36.7B | −2.1% | 14.3% | 10.0% | 21.5% | 18.7x | 6 | |
| Colgate-Palmolive CL | $75.4B | 1.4% | 16.2% | 17.8% | 37.3% | 37.2x | 5 | Compare → |
| Church & Dwight CHD | $25.1B | 1.6% | 17.4% | 17.6% | 14.6% | 33.7x | 6 | Compare → |
| Reynolds Consumer Products REYN | $4.9B | 0.7% | — | 8.5% | 9.9% | 14.7x | 5 | Compare → |
| Central Garden & Pet CENT | $2.8B | −2.2% | 8.0% | 9.3% | 9.7% | 16.8x | 8 | Compare → |
10 years of figures
US$ millions unless stated. Hover a ratio's name for its definition.
| Fiscal year | FY16 | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|---|---|---|
| Income statement | ||||||||||
| Revenue | $18.3B | $18.3B | $18.5B | $18.5B | $19.1B | $19.4B | $20.2B | $17.1B | $16.8B | $16.4B |
| Gross profit | $6.7B | $6.6B | $5.6B | $6.0B | $6.8B | $6.0B | $6.2B | $6.3B | $6.3B | $5.9B |
| Research and development | $326M | $309M | $317M | $284M | $276M | $269M | $292M | $303M | $328M | $326M |
| Operating income | $3.4B | $3.4B | $2.2B | $3.0B | $3.2B | $2.6B | $2.7B | $1.9B | $2.7B | $2.4B |
| Interest expense | $319M | $318M | $263M | $261M | $252M | $256M | $282M | $293M | $270M | $256M |
| Pretax income | $3.0B | $3.0B | $1.8B | $2.7B | $2.9B | $2.2B | $2.3B | $2.0B | $2.9B | $2.1B |
| Income tax | $922M | $776M | $471M | $576M | $676M | $479M | $495M | $343M | $442M | $599M |
| Net income | $2.2B | $2.3B | $1.4B | $2.2B | $2.4B | $1.8B | $1.9B | $1.8B | $2.5B | $2.0B |
| Diluted EPS | $5.99 | $6.40 | $4.03 | $6.24 | $6.87 | $5.35 | $5.72 | $5.21 | $7.55 | $6.07 |
| Diluted shares | 0.36B | 0.36B | 0.35B | 0.35B | 0.34B | 0.34B | 0.34B | 0.34B | 0.34B | 0.33B |
| Cash flow | ||||||||||
| Cash from operations | $3.2B | $2.9B | $3.0B | $2.7B | $3.7B | $2.7B | $2.7B | $3.5B | $3.2B | $2.8B |
| Capital expenditure | $771M | $785M | $877M | $1.2B | $1.2B | $1.0B | $876M | $766M | $721M | $1.1B |
| Free cash flow | $2.5B | $2.1B | $2.1B | $1.5B | $2.5B | $1.7B | $1.9B | $2.8B | $2.5B | $1.6B |
| Depreciation and amortization | $705M | $724M | $882M | $917M | $796M | $766M | $754M | $753M | $781M | $805M |
| Stock-based compensation | $77.0M | $76.0M | $41.0M | $96.0M | $147M | $26.0M | $150M | $169M | $131M | $140M |
| Acquisitions | $0.0M | $0.0M | $0.0M | $4.0M | $1.1B | $0.0M | $46.0M | $0.0M | $0.0M | $0.0M |
| Share buybacks | $739M | $911M | $800M | $800M | $700M | $400M | $100M | $225M | $1.0B | $141M |
| Dividends paid | $1.3B | $1.4B | $1.4B | $1.4B | $1.5B | $1.5B | $1.6B | $1.6B | $1.6B | $1.7B |
| Dividends and buybacks | $2.1B | $2.3B | $2.2B | $2.2B | $2.2B | $1.9B | $1.7B | $1.8B | $2.6B | $1.8B |
| Balance sheet | ||||||||||
| Cash and short-term investments | $923M | $616M | $539M | $442M | $303M | $270M | $427M | $1.1B | $1.0B | $688M |
| Total debt | $7.6B | $7.4B | $7.5B | $7.7B | $8.4B | $8.6B | $8.4B | $8.0B | $7.4B | $7.2B |
| Finance lease liabilities | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | $71.0M | $60.0M | $72.0M | $69.0M | $43.0M |
| Current assets | $5.1B | $5.2B | $5.0B | $5.1B | $5.2B | $5.6B | $5.7B | $5.7B | $5.6B | $5.3B |
| Current liabilities | $5.8B | $5.9B | $6.5B | $6.9B | $6.4B | $6.7B | $7.3B | $6.9B | $7.0B | $7.1B |
| Inventory | $1.7B | $1.8B | $1.8B | $1.8B | $1.9B | $2.2B | $2.3B | $2.0B | $1.5B | $1.5B |
| Property and equipment, net | $7.2B | $7.4B | $7.2B | $7.5B | $8.0B | $8.1B | $7.9B | $7.9B | $6.3B | $6.8B |
| Total assets | $14.6B | $15.2B | $14.5B | $15.3B | $17.5B | $17.8B | $18.0B | $17.3B | $16.5B | $17.1B |
| Total liabilities | $14.5B | $14.3B | $14.6B | $15.1B | $16.7B | $17.1B | $17.3B | $16.3B | $15.6B | $15.5B |
| Shareholders' equity | −$102M | $629M | −$287M | −$33.0M | $626M | $514M | $547M | $915M | $840M | $1.5B |
| Margins | ||||||||||
| Gross margin | 36.6% | 35.9% | 30.3% | 32.7% | 35.6% | 30.8% | 30.8% | 36.6% | 37.4% | 36.0% |
| Operating margin | 18.5% | 18.3% | 12.1% | 16.2% | 17.0% | 13.2% | 13.3% | 11.2% | 16.1% | 14.3% |
| EBITDA margin | 22.4% | 22.3% | 16.8% | 21.2% | 21.1% | 17.1% | 17.0% | 15.6% | 20.7% | 19.2% |
| Net margin | 11.8% | 12.4% | 7.6% | 11.7% | 12.3% | 9.3% | 9.6% | 10.3% | 15.1% | 12.3% |
| FCF margin | 13.5% | 11.7% | 11.3% | 8.3% | 13.1% | 8.9% | 9.2% | 16.2% | 15.0% | 10.0% |
| Returns | ||||||||||
| Return on capital | 33.6% | 34.4% | 22.7% | 32.6% | 30.4% | 22.4% | 23.8% | 19.2% | 29.9% | 21.5% |
| Return on capital employed | 39.2% | 37.2% | 25.8% | 36.6% | 33.4% | 23.1% | 24.7% | 18.3% | 27.1% | 24.1% |
| Return on equity | — | — | — | — | — | — | — | — | 290.0% | 172.6% |
| Return on assets | 14.7% | 15.3% | 9.5% | 14.5% | 14.3% | 10.3% | 10.8% | 10.0% | 15.0% | 12.0% |
| Growth | ||||||||||
| Revenue growth | −1.6% | 0.3% | 0.8% | −0.2% | 3.7% | 1.6% | 3.8% | −15.0% | −2.0% | −2.1% |
| Net income growth | 113.8% | 5.2% | −38.1% | 53.0% | 9.0% | −22.9% | 6.6% | −8.8% | 44.3% | −20.6% |
| EPS growth | 116.3% | 6.8% | −37.0% | 54.8% | 10.1% | −22.1% | 6.9% | −8.9% | 44.9% | −19.6% |
| FCF growth | 96.9% | −12.9% | −2.4% | −27.0% | 64.5% | −31.4% | 7.8% | 49.5% | −9.5% | −34.8% |
| Share count change | −1.3% | −1.6% | −1.8% | −1.1% | −0.9% | −1.1% | −0.2% | 0.2% | −0.5% | −1.1% |
| Financial health | ||||||||||
| Net debt / EBITDA | 1.6x | 1.7x | 2.2x | 1.9x | 2.0x | 2.5x | 2.3x | 2.6x | 1.8x | 2.1x |
| Debt / equity | — | — | — | — | — | — | — | 8.7x | 8.8x | 4.8x |
| Interest coverage | 10.6x | 10.6x | 8.5x | 11.5x | 12.9x | 10.0x | 9.5x | 6.6x | 10.0x | 9.2x |
| Current ratio | 0.9x | 0.9x | 0.8x | 0.7x | 0.8x | 0.8x | 0.8x | 0.8x | 0.8x | 0.8x |
| Quick ratio | 0.6x | 0.6x | 0.5x | 0.5x | 0.5x | 0.5x | 0.5x | 0.5x | 0.6x | 0.5x |
| Capital allocation | ||||||||||
| Capex / revenue | 4.2% | 4.3% | 4.7% | 6.6% | 6.4% | 5.2% | 4.3% | 4.5% | 4.3% | 6.9% |
| Stock comp / revenue | 0.4% | 0.4% | 0.2% | 0.5% | 0.8% | 0.1% | 0.7% | 1.0% | 0.8% | 0.9% |
| Payouts / FCF | 83.3% | 105.9% | 104.4% | 144.6% | 85.6% | 111.2% | 89.3% | 65.3% | 104.6% | 109.9% |
| Quality scores | ||||||||||
| Piotroski F-score | 8.0 | 8.0 | 4.0 | 7.0 | 8.0 | 6.0 | 8.0 | 6.0 | 8.0 | 6.0 |
| Altman Z'' | 2.5 | 2.5 | 1.7 | 2.0 | 2.2 | 2.0 | 2.0 | 1.9 | 2.4 | 2.2 |
| Accruals ratio | −7.2% | −4.4% | −10.5% | −3.9% | −8.4% | −5.2% | −4.5% | −10.1% | −4.1% | −4.5% |
Source: SEC EDGAR XBRL filings (CIK 0000055785). Data updated October 9, 2026. Quarterly fourth quarters are the full year minus the first nine months. For information only — not investment advice. Check the original filings before relying on any figure.