Kenvue Inc. (KVUE)

Sector: Consumer Staples|Industry: Household & Personal Products|Market Cap: $41.24B|Employees: 22K


Kenvue is the world's largest pure-play consumer health company by revenue, operating in over 165 countries. The company's core business model centers around delivering science-backed innovative products, solutions, and experiences in consumer health, with primary revenue streams from its Self Care, Skin Health and Beauty, and Essential Health segments. Kenvue holds leading market positions across numerous large and attractive categories globally, and leverages its flexible distribution network and data-driven customer partnerships.

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Business Summary

Kenvue Inc. is the world's largest pure-play consumer health company by revenue, with $15.4 billion in net sales in 2023. The company operates through three reportable segments: Self Care, Skin Health and Beauty, and Essential Health. Kenvue's portfolio includes iconic brands such as Tylenol®, Neutrogena®, Listerine®, Johnson's®, BAND-AID®, Aveeno®, Zyrtec®, and Nicorette®. The company has a global presence in more than 165 countries.

Key Statistics

  • Employees: 22,000 (as of December 31, 2023)
  • Geographic Footprint: More than 165 countries
  • Headquarters: Skillman, New Jersey
  • Founded: 2022
  • Revenue: $15.4 billion (FY2023)
  • Key Subsidiaries/Brands: Tylenol®, Neutrogena®, Listerine®, Johnson's®, BAND-AID®, Aveeno®, Zyrtec®, and Nicorette®

Leadership

  • CEO: Thibaut Mongon
  • CFO: Paul Ruh
  • Chief Accounting Officer: Heather Howlett
  • Board Chair: Larry J. Merlo

Key Financial Metrics

  • Annual Revenue: $15.4 billion (FY2023)
  • Net Income: $1.664 billion (FY2023)
  • Total Assets: $27.851 billion (as of December 31, 2023)
  • Employees: 22,000 (as of December 31, 2023)
  • Key Financial Highlights: Net sales increased by 3.3% compared to the prior year.

Products and Services

Kenvue operates in three main product categories:

  • Self Care: Includes pain care, cough, cold, and allergy products, as well as other self-care solutions like digestive health and smoking cessation.
  • Skin Health and Beauty: Offers face and body care, and hair, sun, and other products.
  • Essential Health: Provides oral care, baby care, and other essential health products, such as women's health and wound care.

Key Business Segments

Kenvue operates through three reportable business segments:

  • Self Care: 41.8% of net sales
  • Skin Health and Beauty: 28.3% of net sales
  • Essential Health: 29.9% of net sales

Business Strategy

Kenvue's strategy focuses on delivering science-backed innovative products and solutions centered around consumer health. The company aims to leverage its global scale and flexible distribution network to drive growth. Key initiatives include a digital-first approach to marketing and product development, as well as a commitment to building a resilient and sustainable business.

Industry Context

Kenvue operates in the consumer health and personal care sectors, which are large and dynamic. The company competes with a broad set of competitors, including consumer healthcare businesses, global CPG companies, regional companies, generic OTC manufacturers, and niche-oriented brands. Key competitors include Haleon, Procter & Gamble, Reckitt Benckiser Group, Beiersdorf, L'Oréal, and Unilever.

Risk Factors

  • Market Risks: Intense competition, changing consumer preferences, and the potential for damage to brand reputation.
  • Operational Risks: Reliance on third-party manufacturers and suppliers, potential disruptions to supply chains, and cybersecurity incidents.
  • Financial Risks: Exposure to foreign currency fluctuations, inflation, and changes in interest rates.
  • Regulatory Risks: Compliance with a broad range of laws and regulations, including those related to product safety, labeling, and marketing.

Last Updated

2024-03-01

(Generated from latest 10-K filing)