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Kimberly-Clark Corp KMB

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Stock XNYS Rating as of
$136.04 +7.11 (5.51%)
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As of Delayed Price Pre-Open: $136.04 0.00
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Company Report

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Kimberly-Clark Earnings: Ongoing Brand Investment Fuels Volumes, While Efficiency Gains Boost Profit

Erin Lash, Ari Felhandler

Narrow-moat Kimberly-Clark's commitment to investing in consumer-valued innovation and stringently unlocking productivity savings ($120 million in the quarter) yielded a 6% increase in organic sales (on a 4% benefit from higher prices, primarily in inflationary economies) and a 390-basis-point boost in gross margin to 37.1% in its first fiscal quarter. With fiscal 2024 off to a strong start, management beefed up its adjusted EPS growth outlook to a low-teens from a high-single-digit percentage; we plan to bump up our high-single-digit EPS growth forecast to within the revised range. When combined with a time value of money benefit, our $139 fair value estimate should increase by a low-single-digit percentage, leaving shares fairly valued after a mid-single-digit pop on the news.

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Price vs Fair Value

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KMB is trading within a range we consider fairly valued.
Price
$128.93
Fair Value
$183.00
Uncertainty
Medium
1-Star Price
$999.34
5-Star Price
$94.30
Economic Moat
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Capital Allocation
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Bulls Say, Bears Say

Bulls

We suspect Kimberly will maintain a stringent focus on extracting excess costs from its operations as it works to withstand elevated costs (across commodities, transportation, and labor) while also investing for the long term.

Bears

Private label has started to chalk up growth in some CPG categories at home and abroad (as consumers face mounting financial strains), and the overhang of continued trade down remains.

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News

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Trading Information

Previous Close Price
$128.93
Day Range
$134.98–139.75
52-Week Range
$116.32–147.87
Bid/Ask
$134.89 / $136.04
Market Cap
$45.83 Bil
Volume/Avg
151 / 2.2 Mil

Key Statistics

Price/Earnings (Normalized)
19.72
Price/Sales
2.26
Dividend Yield (Trailing)
3.69%
Dividend Yield (Forward)
3.79%
Total Yield
4.25%

Company Profile

With more than half of sales from personal care and another third from consumer tissue products, Kimberly-Clark sits as a leading manufacturer in the tissue and hygiene realm. Its brand mix includes Huggies, Pull-Ups, Kotex, Depend, Kleenex, and Cottonelle. The firm also operates K-C Professional, which partners with businesses to provide safety and sanitary offerings for the workplace. Kimberly-Clark generates just over of half its sales in North America and more than 10% in Europe, with the rest primarily concentrated in Asia and Latin America.
Sector
Consumer Defensive
Industry
Household & Personal Products
Stock Style Box
Mid Core
Total Number of Employees
41,000
Website
https://www.kimberly-clark.com

Competitors

Valuation

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Metric
KMB
PG
8113
Price/Earnings (Normalized)
 19.7224.5831.64
Price/Book Value
 43.887.693.94
Price/Sales
 2.264.722.92
Price/Cash Flow
 15.0219.5819.19
Price/Earnings
KMB
PG
8113

Financial Strength

Metric
KMB
PG
8113
Quick Ratio
 0.470.401.89
Current Ratio
 0.820.642.37
Interest Coverage
 7.6720.6626.12
Quick Ratio
KMB
PG
8113

Profitability

Metric
KMB
PG
8113
Return on Assets (Normalized)
 13.44%13.82%9.30%
Return on Equity (Normalized)
 303.53%35.61%15.44%
Return on Invested Capital (Normalized)
 27.67%20.62%12.88%
Return on Assets
KMB
PG
8113
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