KVUE vs PG: Kenvue and Procter & Gamble compared
The short version
From the latest prices and each company's SEC filings. Who's ahead on each measure, not which to buy.
- Procter & Gamble is the larger company, worth $349.8B, about 10.2 times Kenvue.
- Kenvue grew revenue faster over the last year (+3.0% vs +1.5%).
- Procter & Gamble keeps more of each dollar of revenue as operating profit (22.7% vs 17.1%).
- On earnings, Kenvue is the cheaper stock (21.2x vs 22.0x).
- Procter & Gamble's price assumes faster free cash flow growth: about 7% a year, against 5% for Kenvue (reverse DCF).
Side by side
The stronger figure is shaded where higher (or, for valuation multiples, lower) reads as better. How the implied growth works.
| Measure | KVUE | PG |
|---|---|---|
| Market cap | $34.2B | $349.8B |
| Share price | $17.70 | $151.23 |
| Revenue (last fiscal year) | $15.1B | $87.0B |
| Free cash flow (last fiscal year) | $1.7B | $15.1B |
| Revenue growth, last year | +3.0% | +1.5% |
| Revenue growth per year, last 5 fiscal years | +0.1% | +2.1% |
| Operating margin | 17.1% | 22.7% |
| Net margin | 10.8% | 18.4% |
| Return on equity | 15.7% | 29.5% |
| P/E (trailing) | 21.2x | 22.0x |
| Price / free cash flow | 19.9x | 24.9x |
| EV / EBITDA | 13.1x | 14.7x |
| FCF growth the price implies | 4.9% | 6.9% |
| Dividend yield | 4.7% | 2.8% |
| Debt / equity | 1.53x | 1.33x |
| Fundamental grade | C | C |
| Superinvestors holding it | 8 | 10 |
| Insider purchases, last 12 months | 8 | 10 |
Results from SEC filings
Revenue and free cash flow by fiscal year, from each company's 10-K filings.
Kenvue
| Year | Revenue | Free cash flow | Op. margin |
|---|---|---|---|
| 2021 | $15.1B | $39M | 19.4% |
| 2022 | $14.9B | $2.1B | 17.9% |
| 2023 | $15.4B | $2.7B | 16.3% |
| 2024 | $15.5B | $1.3B | 11.9% |
| 2025 | $15.1B | $1.7B | 16.0% |
Procter & Gamble
| Year | Revenue | Free cash flow | Op. margin |
|---|---|---|---|
| 2022 | $80.2B | $13.6B | 22.2% |
| 2023 | $82.0B | $13.8B | 22.1% |
| 2024 | $84.0B | $16.5B | 22.1% |
| 2025 | $84.3B | $14.0B | 24.3% |
| 2026 | $87.0B | $15.1B | 22.7% |
Where the revenue comes from
Kenvue · by segments, 2025
Self Care$6.4B42%
Essential Health$4.6B31%
Skin Health and Beauty$4.1B27%
Procter & Gamble · by segments, 2026
Fabric & Home Care$30.3B35%
Baby, Feminine & Family Care$20.4B24%
Beauty$16.0B19%
Health Care$12.5B14%
Grooming$6.9B8%
Compare them in fullFifteen years of statements, quarterly results, DCF and IRR models, and any number of peers side by side.
Open KVUE in InvestinglyQuestions
Which is bigger, Kenvue or Procter & Gamble?
Procter & Gamble (PG), at $349.8B against $34.2B.
Is KVUE or PG cheaper?
By trailing P/E, Kenvue (21.2x) is cheaper than Procter & Gamble (22.0x). A lower multiple can also mean the market expects less growth.
Which grows faster, KVUE or PG?
Kenvue: revenue grew +3.0% over the last year, against +1.5%.
Prices and ratios as of the last daily update; statements from SEC filings. Information only, not investment advice.