Kenvue debt and dilution35

Borrowings, liquidity, share count and stock-based dilution.

Total debt

USD millions

$8,480M

Cash & equivalents

USD millions

$1,110M

Net debt

USD millions

$7,370M

Debt / equity

0.8×

Debt / assets

31.72%

Net debt / EBITDA

× · TTM

2.31×

Debt / FCF

× · TTM

4.43×

Interest coverage

× · TTM

6.19×

Current ratio

1.01×

Diluted shares

Million shares

1,923M shares

Basic shares

Million shares

1,920M shares

Share count growth

0.05%

Share repurchases

USD millions

$0M

Quarterly data

Kenvue capital history. Each metric has its own unit. A dash means inputs are missing or the calculation is undefined.
Fiscal period	Ended	Total debtUSD millions	Cash & equivalentsUSD millions	Net debtUSD millions	Debt / equity×	Debt / assets%	Net debt / EBITDA×	Debt / FCF×	Interest coverage×	Current ratio×	Diluted sharesMillion shares	Basic sharesMillion shares	Share count growth%	Share repurchasesUSD millions
FY 2026 Q2	Jun 28, 2026	8,480	1,110	7,370	0.8×	31.72%	2.31×	4.43×	6.19×	1.01×	1,923	1,920	0.05%	0
FY 2026 Q1	Mar 29, 2026	8,661	1,075	7,586	0.82×	32.25%	2.38×	4.75×	6.11×	0.98×	1,922	1,918	0.21%	0
FY 2025 Q4	Dec 28, 2025	8,524	1,062	7,462	0.79×	31.48%	2.51×	4.95×	5.61×	0.96×	1,921	1,917	0.1%	0
FY 2025 Q3	Sep 28, 2025	8,973	1,139	7,834	0.84×	32.93%	2.67×	5.47×	5.51×	0.98×	1,923	1,918	0.16%	70
FY 2025 Q2	Jun 29, 2025	8,610	1,070	7,540	0.8×	31.73%	2.52×	5.27×	5.55×	0.98×	1,928	1,919	0.21%	64
FY 2025 Q1	Mar 30, 2025	8,738	1,057	7,681	0.87×	33.28%	3.12×	6.03×	4.31×	0.86×	1,925	1,914	-0.05%	63
FY 2024 Q4	Dec 29, 2024	8,607	1,070	7,537	0.89×	33.62%	3.06×	6.45×	4.27×	0.96×	1,929	1,915	-0.03%	121
FY 2024 Q3	Sep 29, 2024	8,701	1,057	7,644	0.82×	32.32%	3.1×	6.21×	4.34×	1×	1,924	1,915	-0.05%	23
FY 2024 Q2	Jun 30, 2024	8,478	1,014	7,464	0.83×	32.06%	3×	4.79×	4.56×	0.99×	1,920	1,915	4.19%	0
FY 2024 Q1	Mar 31, 2024	8,555	1,155	7,400	0.81×	31.36%	2.43×	4.1×	6.77×	0.99×	1,920	1,915	11.6%	91
FY 2023 Q4	Dec 31, 2023	8,286	1,382	6,904	0.74×	29.75%	2.2×	3.07×	10.05×	1.12×	1,920.3	1,915.54	—	7
FY 2023 Q3	Oct 1, 2023	8,198	1,062	7,136	0.75×	30.28%	—	—	—	1.14×	1,920	1,916	—	0
FY 2023 Q2	Jul 2, 2023	8,436	1,231	7,205	0.76×	30.63%	—	—	—	1.17×	1,838	1,838	—	0
FY 2023 Q1	Apr 2, 2023	7,676	1,691	5,985	0.38×	21.56%	—	—	—	1.53×	1,716	1,716	—	0

Sources and calculations

Financial inputs from company filings. Last checked Oct 18, 2026. A dash means missing inputs or an undefined calculation.

Period changes use the preceding fiscal quarter or year. Percentage changes divide by the absolute prior value; a zero or missing baseline has no percentage change. Percentage metrics show changes in percentage points.

The SBC option subtracts reported share-based compensation from FCF as an economic-cost scenario. Missing SBC never becomes zero.

Debt uses reported borrowings, with overlapping concepts treated as alternatives. Cash excludes restricted cash and short-term investments. Dilution compares split-normalized weighted average basic shares year over year. Share buyback spending does not by itself measure shares retired.

Market prices: Yahoo Finance · KVUE, USD. Latest completed close Sep 25, 2026. Price data retrieved Sep 28, 2026.

Total debt: Reported borrowing balances. Uses an aggregate including current maturities, or current plus noncurrent debt. Adds separately disclosed short-term borrowings, with commercial paper as a fallback, unless the selected current/aggregate concept already includes them. Finance leases are included when part of the reported debt concept; undisclosed components are not estimated.
Cash & equivalents: Unrestricted reported cash and cash equivalents. Excludes short-term investments and restricted cash.
Net debt: Total debt − cash and equivalents. Negative means net cash.
Debt / equity: Total debt / equity including noncontrolling interests. Nonpositive equity yields unavailable.
Debt / assets: Total debt / total assets × 100.
Net debt / EBITDA: Period-end net debt / (TTM operating income + TTM depreciation and amortization). Negative net debt is retained.
Debt / FCF: Period-end reported debt / positive TTM free cash flow. Reflects the selected reported capex scope and SBC option.
Interest coverage: TTM operating income / positive TTM interest expense. IFRS finance costs can include more than interest.
Current ratio: Current assets / positive current liabilities.
Diluted shares: Reported weighted average diluted shares, normalized for subsequent recorded stock splits. Fourth-quarter counts use a day-weighted annual/nine-month reconstruction where possible.
Basic shares: Reported weighted average basic shares, normalized for subsequent recorded stock splits.
Share count growth: Year-over-year change in split-normalized weighted average basic shares × 100. A dilution proxy; negative means a lower share count.
Share repurchases: Reported cash payments for repurchase of common shares. This is spending, not a buyback yield.