Kimberly Clark
KMB · NasdaqConverted Paper & Paperboard Prods (No Contaners/Boxes) · Fiscal year ends Dec 31
Kimberly Clark reported revenue of $16.4B in the fiscal year ended Dec 2025, down 2.1% from the year before. Operating income was $2.4B, an operating margin of 14.3%, and net income was $2B. Operating cash flow of $2.8B less capital expenditure of $1.1B left free cash flow of $1.6B. Net debt was $6.5B.
Last 5 fiscal years
Revenue and net income
Income statement
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Revenue | $19.4B | $20.2B | $17.1B | $16.8B | $16.4B |
| Cost of revenue | $13.5B | $14B | $10.9B | $10.5B | $10.5B |
| Gross profit | $6B | $6.2B | $6.3B | $6.3B | $5.9B |
| Research & development | $269M | $292M | $303M | $328M | $326M |
| Operating income | $2.6B | $2.7B | $1.9B | $2.7B | $2.4B |
| Interest expense | $256M | $282M | $293M | $270M | $256M |
| Pre-tax income | $2.2B | $2.3B | $2B | $2.9B | $2.1B |
| Income tax | $479M | $495M | $343M | $442M | $599M |
| Net income | $1.8B | $1.9B | $1.8B | $2.5B | $2B |
| Diluted EPS | 5.35 | 5.72 | 5.21 | 7.55 | 6.07 |
| Diluted shares | 339M | 338M | 339M | 337M | 333M |
Balance sheet
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Cash & equivalents | $270M | $427M | $1.1B | $1B | $688M |
| Receivables | $2.2B | $2.3B | $2.1B | $1.7B | $1.9B |
| Inventory | $2.2B | $2.3B | $2B | $1.5B | $1.5B |
| Current assets | $5.6B | $5.7B | $5.7B | $5.6B | $5.3B |
| Net PP&E | $8.1B | $7.9B | $7.9B | $6.3B | $6.8B |
| Goodwill | $1.8B | $2.1B | $1.9B | $1.8B | $1.8B |
| Total assets | $17.8B | $18B | $17.3B | $16.5B | $17.1B |
| Payables | $3.8B | $3.8B | $3.7B | $3.3B | $3.4B |
| Current liabilities | $6.7B | $7.3B | $6.9B | $7B | $7.1B |
| Short-term debt | $433M | $844M | $567M | $564M | $694M |
| Long-term debt | $8.1B | $7.6B | $7.4B | $6.9B | $6.5B |
| Shareholders' equity | $514M | $547M | $915M | $840M | $1.5B |
Cash flow
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Operating cash flow | $2.7B | $2.7B | $3.5B | $3.2B | $2.8B |
| Capital expenditure | $1B | $876M | $766M | $721M | $1.1B |
| Free cash flow | $1.7B | $1.9B | $2.8B | $2.5B | $1.6B |
| Depreciation & amortisation | $766M | $754M | $753M | $781M | $805M |
| Stock-based compensation | $26M | $150M | $169M | $131M | $140M |
| Acquisitions | $0 | $46M | $0 | $0 | – |
| Share buybacks | $400M | $100M | $225M | $1B | $141M |
| Dividends paid | $1.5B | $1.6B | $1.6B | $1.6B | $1.7B |
| Dividend per share | 4.56 | 4.64 | 4.72 | 4.88 | 5.04 |
Key ratios
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Revenue growth (YoY) | – | 3.8% | −15.0% | −2.0% | −2.1% |
| Operating income growth (YoY) | – | 4.7% | −28.1% | 40.0% | −12.9% |
| EPS growth (YoY) | – | 6.9% | −8.9% | 44.9% | −19.6% |
| Gross margin | 30.8% | 30.8% | 36.6% | 37.4% | 36.0% |
| Operating margin | 13.2% | 13.3% | 11.2% | 16.1% | 14.3% |
| Net margin | 9.3% | 9.6% | 10.3% | 15.1% | 12.3% |
| Return on equityBlank when equity is negative | 352.9% | 353.6% | 192.8% | 303.0% | 134.6% |
| ROCEEBIT ÷ (assets − current liabilities) | 23.1% | 25.2% | 18.5% | 28.3% | 23.6% |
| Free cash flow margin | 8.9% | 9.2% | 16.2% | 15.0% | 10.0% |
| Cash conversion (CFO ÷ net income) | 1.50x | 1.41x | 2.01x | 1.27x | 1.37x |
| Receivable days | 41 | 41 | 45 | 38 | 42 |
| Inventory days | 61 | 59 | 66 | 50 | 51 |
| Payable days | 104 | 100 | 123 | 113 | 118 |
| Interest cover | 10.0x | 9.51x | 6.58x | 10.0x | 9.18x |
| Debt ÷ equity | 16.7x | 15.4x | 8.73x | 8.83x | 4.77x |
| Net debtDebt − cash & equivalents; excludes investments; negative = net cash | $8.3B | $8B | $6.9B | $6.4B | $6.5B |
| Current ratio | 0.82x | 0.78x | 0.82x | 0.80x | 0.75x |
Recent filings
More in Converted Paper & Paperboard Prods (No Contaners/Boxes)
Standardised figures from the company's XBRL filings with the SEC (10-K, 10-Q). Line items follow US GAAP tags, so a company's own statement layout may differ and some lines show “–” where the company does not report that item. Ratios are calculated from these figures. For education only; not investment advice or a recommendation.