{"schemaVersion":1,"research":true,"symbol":"kmb","name":"Kimberly Clark","topic":"moat","path":"/stock/kmb/moat","status":"published","version":5,"updatedAt":"2026-10-19T11:16:58.553Z","locked":false,"publicFairValue":false,"fairValue":null,"moat":{"verdict":"narrow","summary":"Kimberly-Clark has a narrow moat in brand intangible assets, supported by disclosed leading market positions, material trademarks and patents, and continued volume demand. Pricing power is limited: earlier increases supported earnings but caused volume elasticity, while 2025 pricing declined and first-half 2026 pricing lagged cost inflation. Productivity provides resilience without establishing a relative cost advantage. China sales disruption and acquisition impairments demonstrate that brand protection can erode.","advantages":[{"mechanism":"intangible_assets","claim":"Established brands and protected intellectual property support a current competitive advantage. The issuer reports No. 1 or No. 2 share positions in approximately 70 countries, identifies brand loyalty as a competitive factor, and discloses substantial marketing requirements for gaining recognition. Volume growth corroborates continuing demand, although it does not establish customer lock-in or an enduring price premium.","durability":"Moderate and dependent on continued innovation, product performance and advertising. Leading positions and legally protected assets support a narrow advantage, but the passages do not establish exceptional persistence or guaranteed durability.","risks":"Price competition, retailer bargaining power and continued promotional spending constrain monetization. The realized China diaper sales disruption and Softex and Thinx impairments show vulnerability to reputation, consumer behavior and competing offerings.","invalidation":"The thesis would fail if subsequent disclosures show sustained loss of leading share positions across core categories, repeated volume declines despite price concessions and brand spending, or widespread brand impairments. Persistent China sales weakness after remediation would further weaken the claimed resilience.","competitors":[],"evidenceIds":["e1","e2","e3","e4","e5","e6","e7"],"counterEvidenceIds":["e8","e9","e10","e11","e12","e13","e14"]}],"evidence":[{"id":"e1","sourceId":"filing-1","location":"Business: brand portfolio preceding market-position disclosure","excerpt":"Our portfolio of brands, including Huggies, Kleenex, Scott, Kotex, Cottonelle, Poise, Depend, Andrex, Pull-Ups, GoodNites, Intimus, Plenitud, Sweety, Softex, Viva and WypAll, hold No."},{"id":"e2","sourceId":"filing-1","location":"Business: reported brand share positions and product categories","excerpt":"1 or No. 2 share positions in approximately 70 countries and encompass five global daily-need product categories: Baby & Child Care, Adult Care, Feminine Care, Family Care, and Professional."},{"id":"e3","sourceId":"filing-1","location":"Business: patents and trademarks owned","excerpt":"Patents and Trademarks\nWe own various patents and trademarks registered domestically and in many foreign countries."},{"id":"e4","sourceId":"filing-1","location":"Competition: principal competitive factors","excerpt":"The principal methods and elements of competition include brand recognition and loyalty, product innovation, quality and performance, price, and marketing and distribution capabilities."},{"id":"e5","sourceId":"filing-1","location":"Risk factors: marketing expenditures required for product recognition","excerpt":"The introduction of a new consumer product (whether improved or newly developed) usually requires substantial expenditures for advertising and marketing to gain recognition in the marketplace."},{"id":"e6","sourceId":"filing-1","location":"MD&A: 2025 organic sales, volume and pricing","excerpt":"Organic sales increased 1.7% driven by volume gains of 2.5%, partially offset by lower pricing."},{"id":"e7","sourceId":"filing-6","location":"MD&A: first-quarter 2026 organic sales and volume","excerpt":"Organic sales increased 2.5% primarily from volume gains of 2.6%."},{"id":"e8","sourceId":"filing-1","location":"Risk factors: ongoing advertising and promotional support","excerpt":"If a product gains consumer acceptance, it normally requires continued advertising and promotional support to maintain its relative market position."},{"id":"e9","sourceId":"filing-1","location":"Risk factors: retailer concentration and bargaining power","excerpt":"With the consolidation of retail trade, both traditional retailers and e-tailers, we are dependent on key customers, and some of these customers, including large-format retailers and large e-tailers, may have significant bargaining power."},{"id":"e10","sourceId":"filing-2","location":"MD&A: realized China diaper sales disruption","excerpt":"While we are effectively navigating the situation, the impact from the spread of false claims across social media significantly impacted our diaper sales in China in the second quarter of 2026 and is expected to further impact sales and profits in the near term."},{"id":"e11","sourceId":"filing-1","location":"Intangible asset impairments: Softex competitive and demand challenges","excerpt":"These reviews and the subsequent revisions in the projections highlighted challenges for the Softex business arising from modified consumer shopping behavior in the post-COVID-19 period, inflationary pressures and other macroeconomic factors and increased competitive activity in the region."},{"id":"e12","sourceId":"filing-1","location":"Intangible asset impairments: Thinx performance below expectations","excerpt":"As a result of separate management reviews, we also have revised internal financial projections associated with our acquisition of a controlling interest in Thinx as a result of performance below expectations due to the impact of modified consumer shopping behavior in the post-COVID-19 period."},{"id":"e13","sourceId":"filing-1","location":"Intangible asset impairments: 2023 realized write-downs","excerpt":"As a result of the interim impairment assessments, we recognized impairment charges, principally arising from the impairment charge of $593 related to the Softex business, totaling $658 pre-tax ($483 after-tax) to write-down these intangible assets to their respective fair values aggregating to $188 as of June 30, 2023."},{"id":"e14","sourceId":"filing-2","location":"MD&A: first-half 2026 productivity, tariff refunds and unfavorable pricing net of inflation","excerpt":"The increase was primarily due to one-time tariff refunds and gross productivity savings from integrated margin management of approximately $235, partially offset by supply chain related investments and unfavorable pricing net of cost inflation."},{"id":"e15","sourceId":"filing-5","location":"MD&A: 2023 realized pricing benefits, productivity savings and offsets","excerpt":"Results benefited from higher net selling prices, $325 of cost savings from our FORCE program, and improved product mix, partially offset by higher marketing, research and general expenses, unfavorable foreign currency effects, higher other manufacturing costs, lower volumes and higher input costs."},{"id":"e16","sourceId":"filing-5","location":"MD&A: volume elasticity from pricing actions","excerpt":"The decrease in volumes primarily reflected expected elasticity from pricing actions."},{"id":"e17","sourceId":"filing-4","location":"MD&A: 2024 price increases concentrated in hyperinflationary economies","excerpt":"Excluding these items, organic growth was 3.2% driven by a 1.9% increase in price, primarily in hyperinflationary economies, coupled with volume and mix gains across all three reportable segments."},{"id":"e18","sourceId":"filing-1","location":"MD&A: 2025 gross profit and gross margin decline","excerpt":"Gross and Operating Profits\nGross profit of $5.9 billion decreased 5.8%, while gross margin of 36.0% decreased 140 basis points."},{"id":"e19","sourceId":"filing-2","location":"MD&A: first-half 2026 adjusted gross margin improvement","excerpt":"Excluding these charges, adjusted gross margin increased 60 basis points to 38.3%."},{"id":"e20","sourceId":"filing-1","location":"MD&A: product price-setting policy and constraints","excerpt":"We adjust our product prices based on a number of variables including demand, the competitive environment, technological improvements, product innovations and changes in our raw material, distribution, energy and other input costs."},{"id":"e21","sourceId":"filing-1","location":"Distribution and customers: Walmart sales concentration","excerpt":"Our largest customer, Walmart Inc., represented approximately 16% in 2025 and 2024 and 15% in 2023 of our net sales from continuing operations."},{"id":"e22","sourceId":"filing-2","location":"Cash flow statement: first-half spending, financing and distributions","excerpt":"5 KIMBERLY-CLARK CORPORATION AND SUBSIDIARIES CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) Six Months Ended June 30 (In millions) 2026 2025 Operating Activities Net income $ 1,025 $ 1,085 Depreciation and amortization 360 440 Stock-based compensation 64 73 Deferred income taxes (83) (30) Net (gains) losses on asset and business dispositions (7) 36 Equity companies' earnings (in excess of) less than dividends paid (65) (50) Operating working capital 399 (471) Postretirement benefits (2) 9 Other (38) 5 Cash Provided by Operations 1,653 1,097 Investing Activities Capital spending (776) (401) Proceeds from asset and business dispositions 28 12 Investments in time deposits (166) (227) Maturities of time deposits 132 282 Other 17 22 Cash Used for Investing (765) (312) Financing Activities Cash dividends paid (843) (824) Change in short-term debt (252) 51 Debt proceeds 1,329 — Debt repayments (400) (250) Proceeds from exercise of stock options — 36 Repurchases of common stock — (120) Cash dividends paid to noncontrolling interests (15) (18) Other (41) (58) Cash Used for Financing (222) (1,183) Effect of Exchange Rate Changes on Cash and Cash Equivalents (4) 34 Change in Cash and Cash Equivalents 662 (364) Cash and cash equivalents from continuing operations - beginning of period 688 1,010 Cash and cash equivalents from discontinued operations - beginning of period(a) 13 11 Cash and Cash Equivalents - Beginning of Period 701 1,021 Cash and cash equivalents from continuing operations - end of period 956 634 Cash and cash equivalents from discontinued operations - end of period(a) 407 23 Cash and Cash Equivalents - End of Period $ 1,363 $ 657 (a) Included in Current assets of discontinued operations."},{"id":"e23","sourceId":"filing-2","location":"Liquidity: insurance recovery and working-capital contribution to cash generation","excerpt":"The increase was driven primarily by an insurance recovery associated with the settlement of claims from a previous acquisition and favorable changes in operating working capital, due in part to timing and lower incentive payments in the current year."},{"id":"e24","sourceId":"filing-1","location":"Pending acquisition: expected share issuance and cash consideration","excerpt":"In total, we expect approximately 280 million shares of common stock to be issued and approximately $6.7 billion to be paid for the Merger Consideration."},{"id":"e25","sourceId":"filing-3","location":"Compensation: approved 2025 performance-based equity grant allocation","excerpt":"Target grant values were approved in February 2025 and were divided into two types: •Performance-based restricted share units (60 percent of the target grant value) which will vest on the third anniversary of the grant date."},{"id":"e26","sourceId":"filing-3","location":"Compensation tables: actual 2025 grants and financial performance conditions","excerpt":"Grants of Plan-Based Awards in 2025\nEstimated Future Payouts\nUnder Non-Equity\nIncentive Plan Awards(1)\nEstimated Future Payouts\nUnder Equity Incentive\nPlan Awards(2)\nAll Other\nAwards:\nStock or\n(#)(3)\n($)(4)\nGrant Type\nThreshold\nMaximum\nThreshold\nMaximum\n2,625,000 \n5,118,750 \nbased RSU\n5/1/2025\n53,130 \n106,260 \n6,899,993 \nRSU\n5/1/2025\n35,420 \n4,599,995 \n930,000 \n1,813,500 \nbased RSU\n5/1/2025\n16,170 \n32,340 \n2,099,998 \nRSU\n5/1/2025\n10,780 \n1,399,999 \nThe number of performance-based restricted share units granted in 2025 that will ultimately vest on the third anniversary of the grant date could range from the threshold number to the maximum number depending on the extent to which the average annual organic sales growth and cumulative modified free cash flow performance objectives for those awards are met."},{"id":"e27","sourceId":"filing-3","location":"Compensation: committee discretion to adjust incentive measures","excerpt":"Under the Committee’s exception guidelines regarding our annual and long-term equity incentive program measures, the Committee has adjusted in the past, and may adjust in the future, the calculation of financial measures for these incentive programs to eliminate the effect of the types of items or events described above."},{"id":"e28","sourceId":"filing-3","location":"Governance: board independence, committee independence and shareholder rights","excerpt":"88 2026 Proxy Statement Proposal 4 – Stockholder proposal to require independent board chair In addition to the strong Independent Lead Director role, our Board structure and corporate governance practices demonstrate our commitment to effective governance and accountability to our stockholders, including: •a majority of our directors (12 out of 13) are independent; •all of the members and Chairs of the Audit Committee, Management Development and Compensation Committee and Nominating and Corporate Governance Committee are independent; •the Board and each Board committee have the authority to hire independent legal, financial or other advisors at the company's expense; •our independent directors hold regular meetings in executive sessions to discuss matters important to the company, including matters related to management; •our stockholders have access to strong stockholder rights, including the right to call a special meeting of stockholders and proxy access; and •we regularly engage with investors to understand their perspective on a variety of topics, including our approach to director refreshment, our corporate governance practices, and our executive compensation program."},{"id":"e29","sourceId":"filing-3","location":"Governance: combined chairman and CEO positions","excerpt":"Chairman and CEO Positions The Board’s current view is that a combined Chairman and CEO position, coupled with a predominantly independent board and a proactive, independent Lead Director, promotes candid discourse, informed business considerations and responsible corporate governance."},{"id":"e30","sourceId":"filing-3","location":"Compensation: 2025 financial results against incentive targets","excerpt":"Performance Measure 2025 Results 2025 Target Organic sales growth* 1.1 % 2.5 % Adjusted EPS** $ 7.37 $ 7.56 * Organic sales growth and Adjusted EPS are non-GAAP financial measures."},{"id":"e31","sourceId":"filing-2","location":"Transformation initiative: board-approved extension through 2028","excerpt":"During the second quarter of 2026, our Board of Directors approved an extension of the 2024 Transformation Initiative through the end of 2028."},{"id":"e32","sourceId":"filing-2","location":"Subsequent events: July 1, 2026 completion of IFP transaction","excerpt":"Note 11. Subsequent Events\nOn July 1, 2026, all consultation requirements and customary closing conditions set forth in the Purchase Agreement were satisfied and the IFP Transaction was completed for a cash purchase price of approximately $1.3 billion, subject to certain post-closing adjustments."},{"id":"e33","sourceId":"filing-2","location":"Acquisitions: Kenvue closing still subject to conditions","excerpt":"Completion of the Kenvue Acquisition, which is expected to take place in the second half of 2026, remains subject to the satisfaction of other customary closing conditions, as described in the Merger Agreement, including the receipt of foreign regulatory approvals."},{"id":"e34","sourceId":"filing-1","location":"Competition: unnamed major competitors, including larger businesses","excerpt":"See Item 1A, \"Risk Factors.\"\nCompetition\nWe have several major competitors in most of our markets, some of which are larger and more diversified than us."},{"id":"e35","sourceId":"filing-2","location":"Transformation initiative: cumulative charges and savings realized or approved","excerpt":"Through June 30, 2026, cumulative pre-tax charges for the 2024 Transformation Initiative were $913 ($706 after-tax), and approximately 95% of the total expected selling, general and administrative expense savings have been realized or approved for action program to date."}],"changes":["Changed uncertain to narrow because the supplied complete market-position disclosure, material intellectual property and marketing requirements, corroborated by volume growth, support a limited current brand advantage. This does not establish strong pricing power or a relative cost advantage.","Added assessments using actual proxy disclosures of approved equity grants, financial targets and governance practices.","Recognized the transformation extension through 2028 and completed July 2026 IFP transaction; Kenvue remains pending in the latest supplied disclosure."],"limitations":["All sources are issuer filings. Market-position and brand-strength disclosures are issuer reports, without supplied independent market-share validation or a long-term share series.","No competing company is identified as a competitor in the passages. Walmart is a customer; acquisition targets, transaction partners and companies appearing in biographies do not establish competitor coverage.","No patent scope, expiration schedule, quantified price premium, comparative unit-cost evidence or customer switching-cost study is supplied. Productivity savings do not establish a cost moat.","Retention is assessed indirectly from volume and sales outcomes; no consumer repeat-purchase or customer renewal rates are supplied.","Executive ownership holdings and realized payouts against detailed incentive thresholds are not fully supplied. Approved 2025 grants establish award design, not future vesting.","Assessment uses the supplied filing dates with dateKind filed, most recently August 4, 2026. Later transaction status and operating outcomes cannot be established.","Historical comparisons require care: earlier results include businesses subsequently classified as discontinued operations, while consolidated cash flows include continuing and discontinued operations.","Evidence is referenced only through immutable catalog IDs; no source quotations are reproduced."],"qualityAssessments":[{"category":"moat","checks":[{"criterion":"structural_advantage","grade":3,"rationale":"Leading reported share positions, protected intellectual property and the spending required to establish brand recognition demonstrate a brand advantage. Relative costs and customer lock-in remain unproven.","evidenceIds":["e1","e2","e3","e4","e5","e6"]},{"criterion":"durability","grade":2,"rationale":"Established brand positions and continuing demand support persistence, but ongoing advertising requirements and realized acquisition impairments limit confidence in durability.","evidenceIds":["e2","e6","e7","e8","e13"]},{"criterion":"customer_dependency","grade":1,"rationale":"Volume elasticity and substantial dependence on a powerful retailer indicate fragile customer dependency. Leading shares support preference, but the evidence does not establish necessity or switching friction.","evidenceIds":["e2","e9","e16","e21"]},{"criterion":"erosion_resilience","grade":2,"rationale":"Volume growth and realized productivity offset some pressure, while China sales disruption, weak pricing and historical brand impairments demonstrate meaningful erosion channels.","evidenceIds":["e6","e7","e10","e13","e14"]}]},{"category":"pricing_power","checks":[{"criterion":"realized_pricing","grade":1,"rationale":"Pricing supported 2023 earnings, but 2024 increases were primarily in hyperinflationary economies, 2025 pricing declined, and first-half 2026 pricing was unfavorable net of inflation. Recent realized pricing power is weak.","evidenceIds":["e6","e14","e15","e17"]},{"criterion":"retention","grade":2,"rationale":"2025 and first-quarter 2026 volume gains indirectly demonstrate continuing demand. Earlier price elasticity and the China disruption show that demand is responsive rather than locked in; repeat-purchase rates are unavailable.","evidenceIds":["e6","e7","e10","e16"]},{"criterion":"margin_resilience","grade":2,"rationale":"2025 gross margin declined, followed by first-half 2026 adjusted margin improvement. Productivity and one-time tariff refunds contributed to recovery despite unfavorable pricing net of inflation, making resilience mixed rather than evidence of strong pricing.","evidenceIds":["e18","e19","e14"]},{"criterion":"contractual_freedom","grade":2,"rationale":"The disclosed practice of adjusting product prices establishes some pricing discretion, constrained by demand, competition and retailer bargaining power. No contractual cost pass-through or protected pricing terms are established.","evidenceIds":["e20","e9","e21"]}]},{"category":"strong_management","checks":[{"criterion":"capital_discipline","grade":2,"rationale":"First-half 2026 cash generation funded substantial investment and dividends with no repurchases, but cash improvement benefited from insurance and working-capital timing. Past acquisition impairments and the large pending cash-and-stock commitment make allocation outcomes mixed; future acquisition returns remain unproven.","evidenceIds":["e22","e23","e13","e24","e33"]},{"criterion":"incentive_alignment","grade":3,"rationale":"Actual approved 2025 awards allocate 60% of target equity value to performance-based units with three-year financial conditions. This demonstrates meaningful alignment, tempered by time-based awards and discretion to adjust measures. Future vesting and executive ownership compliance are not established.","evidenceIds":["e25","e26","e27"]},{"criterion":"execution","grade":2,"rationale":"Realized productivity savings and completed IFP separation demonstrate delivery, while missed 2025 incentive targets and extension of the transformation through 2028 temper the record. The reported 95% savings figure combines realized amounts with actions merely approved.","evidenceIds":["e14","e30","e31","e32","e35"]},{"criterion":"governance","grade":3,"rationale":"Twelve of thirteen directors and the principal oversight committees are independent, with shareholder special-meeting and proxy-access rights. These disclosed structures support strong governance, tempered by combined chairman and CEO roles and limited evidence of oversight effectiveness.","evidenceIds":["e28","e29"]}]}],"financialAssessments":[],"qualityPolicy":"quality-scores-2","sourcePolicy":"issuer-evidence-6","basisHash":"f32cc60d373c16d94ebc5cb20a89df37741e022ea5c3786b636e662218e520bc","updatedAt":"2026-10-19T11:16:58.553Z","sources":[{"id":"filing-1","url":"https://www.sec.gov/Archives/edgar/data/55785/000162828026007567/kmb-20251231.htm","publishedAt":"2026-02-12","sha256":"8cfb985a757f103502004a26e217b1f2b8f3e087bfc6f88307234d5b053c6b40","dateKind":"filed","citationPolicy":"numeric-lines-1"},{"id":"filing-2","url":"https://www.sec.gov/Archives/edgar/data/55785/000162828026052348/kmb-20260630.htm","publishedAt":"2026-08-04","sha256":"fb20b0d25078375ccb088b564c0a29ed09306c3a482051a5fbb63482f331e8bb","dateKind":"filed","citationPolicy":"numeric-lines-1"},{"id":"filing-3","url":"https://www.sec.gov/Archives/edgar/data/55785/000162828026020404/kmb-20260323.htm","publishedAt":"2026-03-23","sha256":"590202d41cc35eab605a453297797a781aeb0772a6ea41263fe3ee824c41e9f3","dateKind":"filed","citationPolicy":"numeric-lines-1"},{"id":"filing-4","url":"https://www.sec.gov/Archives/edgar/data/55785/000005578525000013/kmb-20241231.htm","publishedAt":"2025-02-13","sha256":"a999e551b2d126c4bb2684b00251532250cc9a7f5db02f82149502e7f5717769","dateKind":"filed","citationPolicy":"numeric-lines-1"},{"id":"filing-5","url":"https://www.sec.gov/Archives/edgar/data/55785/000005578524000018/kmb-20231231.htm","publishedAt":"2024-02-08","sha256":"ea67d1ad6e9d5de17444e3aa4d8d2ca958c785fd7d6bb4606a197a76da7a8921","dateKind":"filed","citationPolicy":"numeric-lines-1"},{"id":"filing-6","url":"https://www.sec.gov/Archives/edgar/data/55785/000162828026027800/kmb-20260331.htm","publishedAt":"2026-04-28","sha256":"a9e99a8bc45261ca1ce631a77f23098a46d66125cc4276a2e89d8596951376c3","dateKind":"filed","citationPolicy":"numeric-lines-1"}],"model":"gpt-6.1-sol","providerId":"codex:eeb247113287888c805017fb22cf487fd7bdd12158159ba97abcf8d3425e6d85","usage":{"input_tokens":103345,"cached_input_tokens":21120,"cache_write_input_tokens":0,"output_tokens":3727,"reasoning_output_tokens":119}},"signals":[{"period":"2021","end":"2021-12-31","values":{"gross_margin":30.80246913580247,"operating_margin":13.1738683127572,"roic":22.365651527210815,"fcf_margin":8.863168724279834,"sbc_revenue":0.1337448559670782},"issues":{"peg":"TTM earnings per diluted share growth is zero or negative; a growth-adjusted multiple requires positive growth.","pfcf_growth":"TTM FCF per diluted share growth is zero or negative; a growth-adjusted multiple requires positive growth.","software_capex":"Separately disclosed software and intangible investment is unavailable in the extracted statements for this period.","roic_wacc":"Enter a WACC assumption from 0 to 100%."}},{"period":"2022","end":"2022-12-31","values":{"gross_margin":30.825278810408925,"operating_margin":13.288723667905824,"roic":23.837002532875335,"fcf_margin":9.20446096654275,"sbc_revenue":0.7434944237918215},"issues":{"software_capex":"Separately disclosed software and intangible investment is unavailable in the extracted statements for this period.","roiic":"Invested capital did not increase versus the prior year. ROIIC requires a positive increase.","roic_wacc":"Enter a WACC assumption from 0 to 100%."}},{"period":"2023","end":"2023-12-31","values":{"gross_margin":34.41828593803534,"operating_margin":11.472761979345112,"roic":21.839806565706414,"fcf_margin":13.58719592775684,"sbc_revenue":0.8271743918555137},"issues":{"peg":"TTM earnings per diluted share growth is zero or negative; a growth-adjusted multiple requires positive growth.","software_capex":"Separately disclosed software and intangible investment is unavailable in the extracted statements for this period.","roiic":"Invested capital did not increase versus the prior year. 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ROIIC requires a positive increase.","roic_wacc":"Enter a WACC assumption from 0 to 100%."}},{"period":"2025","end":"2025-12-31","values":{"gross_margin":36.0126466832857,"operating_margin":14.294400194564357,"roic":21.470546345730046,"fcf_margin":9.965343223688212,"sbc_revenue":0.8512190673071077},"issues":{"peg":"TTM earnings per diluted share growth is zero or negative; a growth-adjusted multiple requires positive growth.","pfcf_growth":"TTM FCF per diluted share growth is zero or negative; a growth-adjusted multiple requires positive growth.","software_capex":"Separately disclosed software and intangible investment is unavailable in the extracted statements for this period.","roic_wacc":"Enter a WACC assumption from 0 to 100%."}}],"sources":[{"id":"filing-1","url":"https://www.sec.gov/Archives/edgar/data/55785/000162828026007567/kmb-20251231.htm","publishedAt":"2026-02-12","sha256":"8cfb985a757f103502004a26e217b1f2b8f3e087bfc6f88307234d5b053c6b40","dateKind":"filed","citationPolicy":"numeric-lines-1"},{"id":"filing-2","url":"https://www.sec.gov/Archives/edgar/data/55785/000162828026052348/kmb-20260630.htm","publishedAt":"2026-08-04","sha256":"fb20b0d25078375ccb088b564c0a29ed09306c3a482051a5fbb63482f331e8bb","dateKind":"filed","citationPolicy":"numeric-lines-1"},{"id":"filing-3","url":"https://www.sec.gov/Archives/edgar/data/55785/000162828026020404/kmb-20260323.htm","publishedAt":"2026-03-23","sha256":"590202d41cc35eab605a453297797a781aeb0772a6ea41263fe3ee824c41e9f3","dateKind":"filed","citationPolicy":"numeric-lines-1"},{"id":"filing-4","url":"https://www.sec.gov/Archives/edgar/data/55785/000005578525000013/kmb-20241231.htm","publishedAt":"2025-02-13","sha256":"a999e551b2d126c4bb2684b00251532250cc9a7f5db02f82149502e7f5717769","dateKind":"filed","citationPolicy":"numeric-lines-1"},{"id":"filing-5","url":"https://www.sec.gov/Archives/edgar/data/55785/000005578524000018/kmb-20231231.htm","publishedAt":"2024-02-08","sha256":"ea67d1ad6e9d5de17444e3aa4d8d2ca958c785fd7d6bb4606a197a76da7a8921","dateKind":"filed","citationPolicy":"numeric-lines-1"},{"id":"filing-6","url":"https://www.sec.gov/Archives/edgar/data/55785/000162828026027800/kmb-20260331.htm","publishedAt":"2026-04-28","sha256":"a9e99a8bc45261ca1ce631a77f23098a46d66125cc4276a2e89d8596951376c3","dateKind":"filed","citationPolicy":"numeric-lines-1"}],"history":[{"version":5,"updatedAt":"2026-10-22T22:31:12.429Z","verdict":"narrow","value":null},{"version":4,"updatedAt":"2026-10-19T13:57:15.039Z","verdict":"narrow","value":null},{"version":3,"updatedAt":"2026-10-18T16:35:43.872Z","verdict":"uncertain","value":null},{"version":2,"updatedAt":"2026-10-18T02:27:49.793Z","verdict":"uncertain","value":null},{"version":1,"updatedAt":"2026-10-18T02:18:02.026Z","verdict":null,"value":null}],"hasRequested":false,"requestStatus":"completed","researchIssue":null,"archivedMoat":null,"scope":"supported_catalog"}