Kimberly-Clark Corporation

KMB
Financial Analysis · Updated May 13, 2026 · Coverage 2026-Q2
Latest Q Revenue
$4.2B
Q1 FY2026 · +2.7% YoY
TTM ROIC
18%
FY2025 · NOPAT / (Total Assets - Non-interest-bearing current liabilities) · WACC ~7.5% · Moat spread +10.5pp

Financial Snapshot


ticker: KMB step: 04 generated: 2026-05-12 source: quick-research

Kimberly-Clark Corporation (KMB) — Financial Snapshot

Income Statement Summary

Metric FY2022 FY2023 FY2024 YoY
Revenue ~$20.2B ~$20.2B ~$20.1B ~0%
Gross Margin ~33% ~34.4% ~35.8% +140bps
Operating Margin ~14% ~15% ~16%
Net Income ~$2.0B ~$2.6B ~$2.6B ~0%
EPS (adjusted diluted) ~$6.00 $6.57 $7.30 +11%

Note: FY2025 revenue ~$17.2B reflects the Suzano JV contribution of International Family Care and Professional businesses. Adjusted EPS continues double-digit growth in 2025.

Cash Flow & Balance Sheet (FY2024)

Metric Value
Operating Cash Flow ~$3.2B
Free Cash Flow $2.51B
Cash & Equivalents ~$0.6B
Total Debt ~$8.0B

Key Ratios (approximate)

  • P/E: ~20–22x (adj.) | EV/EBITDA: ~14x | Dividend Yield: ~4%
  • Revenue Growth (FY2024 organic): +3.2% | Gross Margin: ~35.8%

Growth Profile

KMB's revenue growth has been modest in absolute terms due to FX headwinds and divestitures, but organic growth of 3%+ driven by pricing and volume gains is a positive trend. The strategic focus is on margin expansion: KMB targets 40% gross margin and 18–20% operating margin by end of decade (from current ~35.8%/~16%), implying significant earnings power increase without needing volume acceleration. Adjusted EPS has grown double-digits in 2023 and 2024, funded by operational efficiencies, premiumization, and cost savings.

Forward Estimates

  • FY2026: Organic sales growth guidance of ~2%+ (deceleration from prior years); continued adjusted EPS double-digit growth; gross margin expansion ongoing
  • Margin target: 40% gross margin and 18–20% operating margin by end of decade — each 100bps of gross margin expansion = ~$170M in gross profit on ~$17B base

Deeper Financial Analysis

The fundamental tier adds 9 additional research dimensions for $KMB.

Revenue Breakdown
Segment revenue, geographic mix, product-line contribution margins, and cohort dynamics.
Financial Trends
Quarter-over-quarter momentum, leading indicators, and inflection point analysis.
Balance Sheet
Debt structure, liquidity runway, dilution risk, and working capital dynamics.
Capital Allocation
Buyback cadence, M&A appetite, dividend policy, and reinvestment priorities.
Returns on Capital (ROIC)
Multi-year ROIC vs. WACC, marginal returns on reinvestment, sales-to-invested-capital efficiency, and moat spread.
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Markdown: /stocks/kmb/financials/md · → thesis · → memo