For the year ending 2025-12-28, KVUE had -$8M decrease in cash & cash equivalents over the period. $1,722M in free cash flow.
| Cash Flow | 2025-12-28 | 2024-12-29 | 2023-12-31 |
|---|---|---|---|
| Net income | 1,470 | 1,030 | 1,664 |
| Depreciation and amortization | 557 | 622 | 627 |
| Stock-based compensation | 136 | 254 | 188 |
| Deferred income taxes | -108 | -285 | -114 |
| Impairment charges | 23 | 578 | - |
| Losses on investments | 0 | -72 | - |
| Other | -67 | -69 | -6 |
| Trade receivables | 112 | 218 | -44 |
| Inventories | 12 | -182 | -349 |
| Other current and non-current assets | -122 | 17 | 429 |
| Accounts payable | - | - | 390 |
| Accrued liabilities | - | - | 1,064 |
| Accounts payable and accrued liabilities | 41 | -536 | - |
| Employee-related obligations | 43 | 27 | -78 |
| Accrued taxes on income | -27 | -61 | -331 |
| Other liabilities | -3 | 52 | -212 |
| Net cash flows from operating activities | 2,197 | 1,769 | 3,168 |
| Purchases of property, plant, and equipment | 475 | 434 | 469 |
| Transfer of funds to j&j pursuant to the facility agreement | 0 | 0 | 8,941 |
| Proceeds from j&j upon repayment of the facility agreement | 0 | 0 | 8,941 |
| Proceeds from sale of assets | - | - | 21 |
| Proceeds from (costs associated with) sale of assets | 24 | -6 | - |
| Other investing activities | -15 | -15 | 40 |
| Net cash flows used in investing activities | -436 | -425 | -488 |
| Proceeds from (payments of) loans and notes payables | - | 2 | -14 |
| Proceeds from commercial paper program, net of issuance cost | - | 157 | 574 |
| (repayments of) proceeds from commercial paper program, net of (proceeds) repayments and issuance costs | -146 | - | - |
| Proceeds from issuance of senior notes, net of issuance costs | 746 | 0 | 7,686 |
| Proceeds from kenvue ipo, net | 0 | 0 | 4,241 |
| Repayment of senior notes | 750 | - | - |
| Distribution to j&j in connection with the separation | 0 | 0 | 13,788 |
| Dividends paid | 1,581 | 1,552 | 766 |
| Net transfers to j&j | 0 | 0 | -274 |
| Purchase of treasury stock | 197 | 235 | - |
| Other financing activities | 91 | 63 | -186 |
| Net cash flows used in financing activities | -1,837 | -1,565 | -2,527 |
| Effect of exchange rate changes on cash and cash equivalents | 68 | -91 | -2 |
| Net (decrease) increase in cash and cash equivalents | -8 | -312 | 151 |
Kenvue Inc. (KVUE)
Kenvue Inc. (KVUE)