At a glance
Kimberly-Clark Corporation is worth $36.00B, about 18 times its fiscal 2025 earnings. Revenue fell 2.1% to $16.45B in fiscal 2025, with 12.3% kept as profit. It pays a 4.71% dividend yield, raised every year for at least 9 years, and returned $9.82B to shareholders in dividends and buybacks over FY2021–FY2025. The stock returned −5.0% over the past year with dividends reinvested and +0.0% a year over five years, against +11.5% and +11.7% for the S&P 500. At its worst it fell 23.7% in the 2020 crash (S&P 500: 33.7%) and 22.2% in the 2022 bear market (S&P 500: 24.5%), and was back at its earlier high 4 months and 6 months after the lows.
The business in plain English
Kimberly-Clark, founded in 1872, makes everyday disposable products: diapers, training pants, tissue, wet wipes, feminine pads, incontinence products, and wipers for workplaces. They are made mainly from pulp, recycled paper fiber and plastics such as polypropylene. The company's brands include Huggies, Pull-Ups, Kleenex, Scott, Cottonelle, Kotex, Depend, Poise and WypAll. They reach people in more than 175 countries and territories and hold the No. 1 or No. 2 market share in about 70 countries.
Household products reach shoppers through supermarkets, mass merchandisers, drugstores, warehouse clubs and online stores. Professional products go to factories, hotels, office buildings and food service businesses, either directly or through distributors. Walmart is the largest customer, at about 16% of 2025 net sales, mostly in North America.
Revenue was $16.4 billion for the year ended December 31, 2025. That figure leaves out the former International Family Care and Professional business. Kimberly-Clark agreed to move that business into a joint venture (a jointly owned company), with Suzano paying about $1.7 billion for 51%. Baby and child care made up 41.2% of revenue, family care 24.7%, adult care 11.8%, professional 11.2% and feminine care 10.4%. By region, the North America segment supplied 65.4% and International Personal Care 34.6%. In November 2025, the company also agreed to acquire consumer health company Kenvue.
Price history
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KMB -5.0% over the year to Nov 2, 2026, total return with dividends reinvested.
How it makes money
By product or service
| Baby and Child Care | $6.77B | 41.2% |
| Family Care | $4.06B | 24.7% |
| Adult Care | $1.95B | 11.8% |
| Professional | $1.84B | 11.2% |
| Feminine Care | $1.71B | 10.4% |
| All Other | $124.0M | 0.8% |
By business segment
| NA | $10.75B | 65.4% |
| IPC | $5.69B | 34.6% |
Latest results
- In Q2 FY2026 (ended Jun 30, 2026), revenue was $4.19B, up 0.6% from a year earlier, and net income was $345.0M (-32.2%).
- For fiscal 2025, revenue was $16.45B (-2.1% year over year) with a 12.3% net margin.
Financial health check
| Operating margin | 14.3% watch |
|---|---|
| Free cash flow margin | 10% good |
| Return on equity (FY2025) | 134.6% (lifted by a small equity base, often the result of years of buybacks) good |
| Return on assets (FY2025) | 11.8% good |
| Net cash (cash minus debt) | $-5.56B weak |
| Fiscal year | Revenue | Net income | Free cash flow |
|---|---|---|---|
| FY2020 | $19.14B | $2.35B | $2.51B |
| FY2021 | $19.44B | $1.81B | $1.72B |
| FY2022 | $20.18B | $1.93B | $1.86B |
| FY2023 | $17.15B | $1.76B | $2.78B |
| FY2024 | $16.80B | $2.54B | $2.51B |
| FY2025 | $16.45B | $2.02B | $1.64B |
Valuation snapshot
| Market value | $36.00B |
|---|---|
| P/E ratio | 17.8 |
| Dividend yield | 4.71% |
Rank among 1514 US companies
Market value at each year end
Kimberly-Clark’s market value went from $40.87B at the end of 2016 to $36.00B on Nov 2, 2026, down 12%; since the end of 2025 it is up 8%.
Show as a table
| Year end | Market value | Change |
|---|---|---|
| Nov 2, 2026 | $36.00B | +7.5% |
| 2025 | $33.48B | -23.4% |
| 2024 | $43.70B | +6.4% |
| 2023 | $41.06B | -10.4% |
| 2022 | $45.81B | -4.8% |
| 2021 | $48.12B | +4.9% |
| 2020 | $45.86B | -2.7% |
| 2019 | $47.15B | +19.5% |
| 2018 | $39.46B | -7.0% |
| 2017 | $42.44B | +3.8% |
| 2016 | $40.87B |
Price behavior
| YTD | 1 yr | 3 yr | 5 yr | 10 yr | |
|---|---|---|---|---|---|
| KMB price data to Nov 2, 2026 | +11.4% | -5.0% | +0.4% | 0.0% | +3.1% |
Show as a table
| Year | Price data |
|---|---|
| 2026 (to date) | +11.3% |
| 2025 | -19.9% |
| 2024 | +11.8% |
| 2023 | -7.1% |
| 2022 | -1.6% |
| 2021 | +9.7% |
| 2020 | +1.0% |
| 2019 | +24.6% |
| 2018 | -2.1% |
| 2017 | +9.1% |
| 2016 | -7.7% |
| 2015 | +13.8% |
| 2014 | +18.9% |
| 2013 | +27.9% |
| 2012 | +18.9% |
| 2011 | +21.4% |
| 2010 | +3.0% |
| 2009 | +25.9% |
| 2008 | -21.1% |
| 2007 | +5.1% |
| 2006 | +17.4% |
| 2005 | -6.8% |
| 2004 | +14.0% |
| 2003 | +27.7% |
| 2002 | -19.1% |
| 2001 | -14.0% |
| 2000 | +10.0% |
| 1999 | +22.2% |
| 1998 | +12.7% |
| 1997 | +5.4% |
| 2008 financial crisis stocks fell Oct 9, 2007 – Mar 9, 2009 | Lost 34.5% over that stretch · deepest drop along the way 35.3%, back to its old high 8.5 months after the low |
|---|---|
| 2020 COVID crash stocks fell Feb 19, 2020 – Mar 23, 2020 | Lost 21.3% over that stretch · deepest drop along the way 23.7%, back to its old high 4 months after the low |
| 2022 bear market stocks fell Jan 3, 2022 – Oct 12, 2022 | Lost 18.6% over that stretch · deepest drop along the way 22.2%, back to its old high 6.3 months after the low |
Insider activity
Form 4 filings from 2025-11-03 to 2026-11-03 (25 read): 0 open-market purchases and 3 sales ($690K).
| Date | Insider | Type | Value |
|---|---|---|---|
| May 6, 2026 | Andrew Scribner Controller, VP & FP&A | sell | $401K |
| May 4, 2026 | Katy Chen President, Int'l Personal Care | sell | $152K |
| Apr 30, 2026 | Katy Chen President, Int'l Personal Care | sell | $136K |
Who owns it
Large shareholders (13G filings)
| BlackRock, Inc. | 8.8% | Mar 31, 2026 |
| Vanguard Capital Management | 7.5% | Mar 31, 2026 |
| STATE STREET CORPORATION | 6.5% | Mar 31, 2026 |
ETFs with the most weight in KMB
| BAMD Brookstone Dividend Stock ETF | 3.39% |
| SHRY First Trust Bloomberg Shareholder Yield ETF | 3.29% |
| XLP Consumer Staples Select Sector SPDR Fund | 2.79% |
| VSDA VictoryShares Dividend Accelerator ETF | 2.72% |
| SEIQ SEI Enhanced U.S. Large Cap Quality Factor ETF | 2.39% |
| FTCS First Trust Capital Strength ETF | 2.29% |
| LVHD Franklin U.S. Low Volatility High Dividend Index ETF | 2.28% |
| EMOT First Trust S&P 500 Economic Moat ETF | 2.2% |
What could go wrong
- Kenvue deal may stumble or disappoint. The planned Kenvue acquisition might not close, or the combined company might miss its projected cost savings. Integration problems, merger lawsuits, heavy deal costs and lost customers or suppliers could all weigh on results.
- More debt and more shares after merger. The deal would add about 280 million shares, shrinking current owners' stake, and lift debt substantially above the two companies' combined pre-deal total. Kimberly-Clark had $6.5 billion of debt as of June 30, 2026.
- Heavy reliance on Walmart and big retailers. Walmart alone made up about 16% of 2025 net sales. Large retailers can push for lower prices and more promotions, and the shift to online and other new channels may squeeze margins.
- Pulp and plastic prices swing sharply. Diapers, tissue and pads rely on pulp and petroleum-based materials whose prices have been volatile. If Kimberly-Clark cannot raise its own prices fast enough, or energy and shipping costs jump, profits can shrink.
- Strong rivals and shifting shopper habits. Several major competitors, some larger and more diversified, compete on brand, innovation, quality and price. If shoppers change their habits or new products fall flat, sales and margins could suffer.
- Currency, tariffs and the war in Ukraine. International Personal Care supplied 34.6% of 2025 revenue. Weaker foreign currencies, new tariffs, political instability and the war in Ukraine, which affects operations in Russia and nearby countries, can hurt earnings.
Recent events
- Acquisition or sale of assets completed; Restructuring or exit costs; Executive or board change; Bylaws or fiscal year changed; Investor presentation or announcement
- Major agreement signed; New debt or financial obligation; Other company announcement
- Other company announcement
- Quarterly results released; Investor presentation or announcement
- Other company announcement
- Executive or board change
- Other company announcement
- Quarterly results released
- Shareholder vote results
- Executive or board change
For income and retirement investors
Kimberly-Clark has raised its dividend at least 9 years in a row through FY2025, and the streak may be longer. Dividends per share rose from $4.28 in 2020 to $5.04 in 2025, about 3.3% a year, and the yield was 4.7% as of October 28, 2026. The cushion is thin: the 2025 dividend took 82.1% of earnings and 101.3% of free cash flow (cash left after running and investing in the business). Share buybacks (repurchasing its own stock) totaled $1.9 billion over FY2021–FY2025, against almost $8 billion in dividends, and fell to $141 million in 2025.
In past downturns the shares fell hard but recovered within months. They fell 35.3% in the 2008 financial crisis and got back to their prior high about 8.5 months after the 2009 low. They fell 23.7% in the 2020 COVID crash (about 4 months to recover) and 22.2% in the 2022 bear market (about 6 months). A single stock carries more risk than a diversified fund.
Questions investors ask
How does Kimberly-Clark make money?
It earns money from everyday disposable products, including diapers, tissue, wet wipes, feminine pads and incontinence products, under brands such as Huggies, Kleenex, Scott, Cottonelle, Kotex and Depend. Supermarkets, drugstores, warehouse clubs and online stores carry them, and businesses get professional products directly or through distributors. For the year ended December 31, 2025, baby and child care brought in 41.2% of $16.4 billion in revenue, North America supplied 65.4%, and Walmart alone accounted for about 16% of net sales.
Does Kimberly-Clark raise its dividend every year?
Yes, for at least 9 years in a row. Kimberly-Clark's SEC filings show a dividend increase in every fiscal year from FY2016 through FY2025, and the true streak may be longer. Dividends per share went from $4.28 in 2020 to $5.04 in 2025, about 3.3% a year. The raises are modest. In 2025 the dividend used 82.1% of earnings and 101.3% of free cash flow, which leaves little room if profits fall.
What is Kimberly-Clark's dividend yield?
The dividend yield was 4.7% as of October 28, 2026. Yield is the yearly dividend divided by the share price, so it rises when the price falls. Kimberly-Clark paid $5.04 per share in dividends for 2025. On the same date the company was valued at about $36.1 billion. Its shares traded at 17.9 times 2025 earnings, a measure called the price-to-earnings ratio.
Is Kimberly-Clark acquiring Kenvue?
It agreed to. On November 2, 2025, Kimberly-Clark agreed to acquire Kenvue, a consumer health company, for stock and cash. Each Kenvue share would become 0.14625 Kimberly-Clark shares plus $3.50 in cash. In total that comes to about 280 million new shares and about $6.7 billion in cash. The deal was still pending when the annual report (10-K) was filed on February 12, 2026. Its risks include failing to close, integration trouble, and much higher debt for the combined company.
How has Kimberly-Clark stock performed?
Modestly. As of October 28, 2026, the stock returned an average of 3.1% a year over 10 years, or 35% in total, and 0.2% a year over five years. It lost 5.6% over the past year. It fell 19.9% in calendar 2025 and was up 11.5% for 2026 through October 28, a partial year. Over the three years to that date, the deepest drop from a high was 34.1%.