NASDAQ · Consumer Defensive

Kimberly-Clark Corporation

KMB · Household & Personal Products

$95.65

▼ -2.02 (-2.07%)

Data cached · refreshes every 10 min

Mr. Market is currently offering Kimberly-Clark Corporation at $95.65.

The business passes only 3 of 7 of Graham's defensive criteria — well below his required standard.

Overall Grade

Defensive

Enterprising

Profitability B

Gross Profit Margin 36.0%

Operating Margin 14.3%

Net Income Margin 12.3%

Fin. Health F

Years to Pay Off Debt 3.6 yrs

Working Capital vs Long-Term Debt -$8.3B

Working Capital -$1.8B

Valuation F

Margin of Safety 0.0%

Price-to-Book 21.14x

Cash Flow C

Free Cash Flow $1.6B

CapEx % of Net Income 56.3%

Owner Earnings $4.0B

3/7

Graham Score

Speculative

Defensive — Graham's strict criteria (P/B, P/E, dividends, stability) · Enterprising — Profitability & cash flow focused, accepts higher valuations for quality

Market Data

Market Cap $31.8B

Enterprise Value $39.1B

P/E (TTM) 18.50

Dividend Yield 5.18%

Exchange NASDAQ

Key Margins

Gross Profit 36.0%

Operating Margin 14.3%

Net Margin 12.3%

Company Info

Sector Consumer Defensive

Industry Household & Personal Products

Employees 36000

Country United States

Visit website

📖

Full Graham Analysis

Mr. Market is currently offering Kimberly-Clark Corporation at $95.65.

The business passes only 3 of 7 of Graham's defensive criteria — well below his required standard.

At $95.65, the stock trades at a 285% premium to its Graham Number of $24.86. Graham would consider this price speculative.

There is no margin of safety at the current price. Graham would advise patience and waiting for a better entry point.

Negative NCAV — liabilities exceed current assets. Common in capital-return businesses (buybacks, debt-funded dividends) and capital-intensive industries. Not automatically a warning sign..

Conclusion: By Graham's standards, this stock is speculative at its current price. The intelligent investor would look elsewhere or wait.

About Kimberly-Clark Corporation

Kimberly-Clark Corporation, together with its subsidiaries, manufactures and markets personal care products in the United States. It operates in two segments, North America and International Personal Care. The North America segment offers disposable diapers, training and youth pants, swimpants, baby wipes, feminine and incontinence care products, reusable underwear, facial and bathroom tissue, paper towels, napkins, wipers, tissue, towels, soaps and sanitizers, and other related products under the Huggies, Pull-Ups, Goodnites, Kotex, Poise, Depend, Kleenex, Scott, Cottonelle, Viva, Wypall , and other brand names. Its International Personal Care segment provides baby and child care, adult care and feminine care, including disposable diapers, training and youth pants, swimpants, baby wipes, feminine and incontinence care products, reusable underwear, and other related products under the Huggies, Kotex, Goodfeel, Intimus, Depend, and other brand names. The company sells its household use products directly to supermarkets, mass merchandisers, drugstores, warehouse clubs, variety and department stores, and other retail outlets, as well as through other distributors and e-commerce. It also sells its professional use products through distributors, directly to manufacturing, lodging, office building, food service, and high-volume public facilities, and through e-commerce. Kimberly-Clark Corporation was founded in 1872 and is headquartered in Dallas, Texas.

Showing Key Metrics

Income Highlights

Metric	2025	2024	2023	2022
Gross Profit %	36.0% ▼	37.4%	36.6%	30.8%
Operating Margin %	14.3% ▼	16.6%	15.1%	13.3%
Net Income %	12.3% ▼	15.1%	10.3%	9.6%
Diluted EPS	6.07 ▼	7.55	5.21	5.73

Balance Sheet Highlights

Metric	2025	2024	2023	2022
Total Assets	$17.1B	$16.5B	$17.3B	$18.0B
Total Debt	$7.3B ↓	$7.5B	$8.1B	$8.5B
Working Capital	-$1.8B ▼	-$1.4B	-$1.2B	-$1.6B
Years to Pay Debt	3.61	2.96	4.60	4.42

Cash Flow Highlights

Metric	2025	2024	2023	2022	2021
Free Cash Flow	$1.6B ▼	$2.5B	$2.8B	$1.9B	N/A
Owner Earnings	$4.0B	$4.0B	$3.3B	$3.6B	N/A
CapEx % of Net Income	56.3%	28.3%	43.4%	45.3%	N/A

Income Statement

	2025	2024	2023	2022
Tax Effect Of Unusual Items	0	-17,731	-147,392	0
Tax Rate For Calcs	0	0	0	0
Normalized EBITDA	3,113,000	3,566,000	3,310,000	3,376,000
Total Unusual Items	0	-97,000	-658,000	0
Total Unusual Items Excluding Goodwill	0	-97,000	-658,000	0
Net Income From Continuing Operation Net Minority Interest	1,621,000	2,159,000	1,459,000	1,934,000
Reconciled Depreciation	805,000	781,000	753,000	754,000
Reconciled Cost Of Revenue	10,524,000	10,516,000	10,877,000	13,956,000
EBITDA	3,113,000	3,469,000	2,652,000	3,376,000
EBIT	2,308,000	2,688,000	1,899,000	2,622,000
Net Interest Income	-232,000	-222,000	-227,000	-268,000
Interest Expense	256,000	270,000	293,000	282,000
Interest Income	24,000	48,000	66,000	14,000
Normalized Income	1,621,000	2,238,269	1,969,608	1,934,000
Net Income From Continuing And Discontinued Operation	2,021,000	2,545,000	1,764,000	1,934,000
Total Expenses	14,096,000	14,008,000	14,560,000	17,494,000
Total Operating Income As Reported	2,351,000	2,700,000	1,928,000	2,681,000
Diluted Average Shares	333,200	337,000	338,800	338,300
Basic Average Shares	331,856	335,752	337,931	337,522
Diluted EPS	0	0	0	0
Basic EPS	0	0	0	0
Diluted NI Availto Com Stockholders	2,021,000	2,545,000	1,764,000	1,934,000
Net Income Common Stockholders	2,021,000	2,545,000	1,764,000	1,934,000
Net Income	2,021,000	2,545,000	1,764,000	1,934,000
Minority Interests	-28,000	-33,000	0	-27,000
Net Income Including Noncontrolling Interests	2,049,000	2,578,000	1,764,000	1,961,000
Net Income Discontinuous Operations	400,000	386,000	305,000
Net Income Continuous Operations	1,649,000	2,192,000	1,459,000	1,961,000
Earnings From Equity Interest Net Of Tax	196,000	216,000	196,000	116,000
Tax Provision	599,000	442,000	343,000	495,000
Pretax Income	2,052,000	2,418,000	1,606,000	2,340,000
Other Income Expense	-67,000	-157,000	-753,000	-73,000
Other Non Operating Income Expenses	-67,000	-60,000	-95,000	-73,000
Special Income Charges	0	-97,000	-658,000	0
Impairment Of Capital Assets	0	97,000	658,000	0
Net Non Operating Interest Income Expense	-232,000	-222,000	-227,000	-268,000
Interest Expense Non Operating	256,000	270,000	293,000	282,000
Interest Income Non Operating	24,000	48,000	66,000	14,000
Operating Income	2,351,000	2,797,000	2,586,000	2,681,000
Operating Expense	3,572,000	3,492,000	3,683,000	3,538,000
Other Operating Expenses	44,000	-438,000	68,000	-43,000
Selling General And Administration	3,528,000	3,930,000	3,615,000	3,581,000
Gross Profit	5,923,000	6,289,000	6,269,000	6,219,000
Cost Of Revenue	10,524,000	10,516,000	10,877,000	13,956,000
Total Revenue	16,447,000	16,805,000	17,146,000	20,175,000
Operating Revenue	16,447,000	16,805,000	17,146,000	20,175,000

Balance Sheet

	2025	2024	2023	2022
Treasury Shares Number	46,699	46,798	41,599	41,100
Ordinary Shares Number	331,898	331,799	336,998	337,500
Share Issued	378,597	378,597	378,597	378,600
Net Debt	6,480,000	6,408,000	6,891,000	7,995,000
Total Debt	7,296,000	7,534,000	8,114,000	8,549,000
Tangible Book Value	-414,000	-1,036,000	-1,367,000	-2,378,000
Invested Capital	8,670,000	8,258,000	8,899,000	8,969,000
Working Capital	-1,815,000	-1,424,000	-1,227,000	-1,605,000
Net Tangible Assets	-414,000	-1,036,000	-1,367,000	-2,378,000
Capital Lease Obligations	128,000	116,000	130,000	127,000
Common Stock Equity	1,502,000	840,000	915,000	547,000
Total Capitalization	7,976,000	7,694,000	8,332,000	8,125,000
Total Equity Gross Minority Interest	1,630,000	975,000	1,068,000	700,000
Minority Interest	128,000	135,000	153,000	153,000
Stockholders Equity	1,502,000	840,000	915,000	547,000
Gains Losses Not Affecting Retained Earnings	-3,444,000	-3,766,000	-3,582,000	-3,669,000
Other Equity Adjustments	-3,444,000	-3,766,000	-3,582,000	-3,669,000
Treasury Stock	5,987,000	5,986,000	5,222,000	5,137,000
Retained Earnings	9,611,000	9,257,000	8,368,000	8,201,000
Additional Paid In Capital	849,000	862,000	878,000	679,000
Capital Stock	473,000	473,000	473,000	473,000
Common Stock	473,000	473,000	473,000	473,000
Total Liabilities Net Minority Interest	15,468,000	15,571,000	16,276,000	17,270,000
Total Non Current Liabilities Net Minority Interest	8,343,000	8,567,000	9,346,000	9,936,000
Other Non Current Liabilities	646,000	609,000	860,000	799,000
Liabilities Heldfor Sale Non Current	151,000	139,000
Preferred Securities Outside Stock Equity	22,000	37,000	26,000	258,000
Employee Benefits	605,000	628,000	669,000	654,000
Non Current Deferred Liabilities	445,000	300,000	374,000	647,000
Non Current Deferred Taxes Liabilities	445,000	300,000	374,000	647,000
Long Term Debt And Capital Lease Obligation	6,474,000	6,854,000	7,417,000	7,578,000
Long Term Debt	6,474,000	6,854,000	7,417,000	7,578,000
Current Liabilities	7,125,000	7,004,000	6,930,000	7,334,000
Other Current Liabilities	1,222,000	1,222,000	494,000	601,000
Current Debt And Capital Lease Obligation	822,000	680,000	697,000	971,000
Current Capital Lease Obligation	128,000	116,000	130,000	127,000
Current Debt	694,000	564,000	567,000	844,000
Other Current Borrowings	694,000	564,000	567,000	844,000
Payables And Accrued Expenses	5,081,000	5,102,000	5,739,000	5,762,000
Current Accrued Expenses	1,029,000	1,183,000	1,398,000	1,243,000
Interest Payable	91,000	99,000	88,000	82,000
Payables	4,052,000	3,919,000	4,341,000	4,519,000
Dividends Payable	415,000	402,000	394,000	388,000
Total Tax Payable	249,000	253,000	294,000	318,000
Accounts Payable	3,388,000	3,264,000	3,653,000	3,813,000
Total Assets	17,098,000	16,546,000	17,344,000	17,970,000
Total Non Current Assets	11,788,000	10,966,000	11,641,000	12,241,000
Other Non Current Assets	2,767,000	2,492,000	1,140,000	1,193,000
Investments And Advances	330,000	314,000	306,000	238,000
Long Term Equity Investment	330,000	314,000	306,000	238,000
Goodwill And Other Intangible Assets	1,916,000	1,876,000	2,282,000	2,925,000
Other Intangible Assets	77,000	80,000	197,000	851,000
Goodwill	1,839,000	1,796,000	2,085,000	2,074,000
Net PPE	6,775,000	6,284,000	7,913,000	7,885,000
Accumulated Depreciation	-9,734,000	-9,418,000	-11,238,000	-10,664,000
Gross PPE	16,509,000	15,702,000	19,151,000	18,549,000
Construction In Progress	1,201,000	780,000	803,000	676,000
Machinery Furniture Equipment	12,820,000	12,498,000	15,132,000	14,655,000
Buildings And Improvements	2,354,000	2,314,000	3,067,000	3,062,000
Land And Improvements	134,000	110,000	149,000	156,000
Current Assets	5,310,000	5,580,000	5,703,000	5,729,000
Other Current Assets	93,000	117,000	520,000	753,000
Hedging Assets Current	52,000	114,000
Assets Held For Sale Current	720,000	696,000
Prepaid Assets	304,000	292,000
Inventory	1,475,000	1,452,000	1,955,000	2,269,000
Inventories Adjustments Allowances	-191,000	-200,000	-192,000	-239,000
Finished Goods	952,000	938,000	1,212,000	1,388,000
Work In Process	149,000	148,000	211,000	246,000
Raw Materials	565,000	566,000	724,000	874,000
Receivables	1,892,000	1,728,000	2,135,000	2,280,000
Receivables Adjustments Allowances	-45,000	-48,000	-78,000	-64,000
Other Receivables	154,000	126,000	150,000	189,000
Accounts Receivable	1,783,000	1,650,000	2,063,000	2,155,000
Cash Cash Equivalents And Short Term Investments	774,000	1,181,000	1,093,000	427,000
Other Short Term Investments	86,000	171,000
Cash And Cash Equivalents	688,000	1,010,000	1,093,000	427,000

Cash Flow

	2025	2024	2023	2022	2021
Free Cash Flow	1,639,000	2,513,000	2,776,000	1,857,000
Repurchase Of Capital Stock	-141,000	-1,000,000	-320,000	-100,000
Repayment Of Debt	-550,000	-554,000	-475,000	-312,000
Issuance Of Debt	0	0	363,000	0
Capital Expenditure	-1,138,000	-721,000	-766,000	-876,000
Interest Paid Supplemental Data	248,000	268,000	277,000	270,000
Income Tax Paid Supplemental Data	497,000	587,000	648,000	468,000
End Cash Position	701,000	1,021,000	1,093,000	427,000
Beginning Cash Position	1,021,000	1,093,000	427,000	270,000
Effect Of Exchange Rate Changes	33,000	-40,000	-84,000	-31,000
Changes In Cash	-353,000	-32,000	750,000	188,000
Financing Cash Flow	-2,179,000	-3,166,000	-2,374,000	-1,760,000
Cash Flow From Continuing Financing Activities	-2,179,000	-3,166,000	-2,374,000	-1,760,000
Net Other Financing Charges	-143,000	-121,000	-80,000	-145,000
Proceeds From Stock Option Exercised	40,000	136,000	97,000	94,000
Cash Dividends Paid	-1,660,000	-1,628,000	-1,588,000	-1,558,000
Common Stock Dividend Paid	-1,660,000	-1,628,000	-1,588,000	-1,558,000
Net Common Stock Issuance	-141,000	-1,000,000	-320,000	-100,000
Common Stock Payments	-141,000	-1,000,000	-320,000	-100,000
Net Issuance Payments Of Debt	-275,000	-553,000	-483,000	-51,000
Net Short Term Debt Issuance	275,000	1,000	-371,000	261,000
Net Long Term Debt Issuance	-550,000	-554,000	-112,000	-312,000
Long Term Debt Payments	-550,000	-554,000	-475,000	-312,000
Long Term Debt Issuance	0	0	363,000	0
Investing Cash Flow	-951,000	-100,000	-418,000	-785,000
Cash Flow From Continuing Investing Activities	-951,000	-100,000	-418,000	-785,000
Net Other Investing Changes	82,000	664,000	253,000	-2,000
Net Investment Purchase And Sale	105,000	-43,000	95,000	139,000
Sale Of Investment	552,000	562,000	815,000	797,000
Purchase Of Investment	-447,000	-605,000	-720,000	-658,000
Net Business Purchase And Sale		0	0	-46,000	0
Purchase Of Business		0	0	-46,000	0
Net PPE Purchase And Sale				12,000	43,000
Sale Of PPE				12,000	43,000
Capital Expenditure Reported	-1,138,000	-721,000	-766,000	-876,000
Operating Cash Flow	2,777,000	3,234,000	3,542,000	2,733,000
Cash Flow From Continuing Operating Activities	2,777,000	3,234,000	3,542,000	2,733,000
Change In Working Capital	-503,000	178,000	582,000	-17,000
Change In Other Working Capital	100,000	-55,000	27,000	-11,000
Change In Payables And Accrued Expense	-615,000	175,000	138,000	221,000
Change In Accrued Expense	-325,000	106,000	125,000	92,000
Change In Payable	-290,000	69,000	13,000	129,000
Change In Account Payable	-147,000	179,000	-109,000	109,000
Change In Tax Payable	-143,000	-110,000	122,000	20,000
Change In Income Tax Payable	-143,000	-110,000	122,000	20,000
Change In Inventory	70,000	10,000	290,000	-76,000
Change In Receivables	-58,000	48,000	127,000	-151,000
Changes In Account Receivables	-58,000	48,000	127,000	-151,000
Other Non Cash Items	8,000	-3,000	30,000	10,000
Stock Based Compensation	140,000	131,000	169,000	150,000
Asset Impairment Charge	18,000	114,000	676,000	0
Deferred Tax	241,000	-38,000	-322,000	-57,000
Deferred Income Tax	241,000	-38,000	-322,000	-57,000
Depreciation Amortization Depletion	805,000	781,000	753,000	754,000
Depreciation And Amortization	805,000	781,000	753,000	754,000
Amortization Cash Flow		8,000	13,000	15,000
Amortization Of Intangibles		8,000	13,000	15,000
Depreciation		773,000	740,000	739,000
Operating Gains Losses	19,000	-507,000	-110,000	-68,000
Pension And Employee Benefit Expense	15,000	3,000	24,000	-4,000
Earnings Losses From Equity Investments	-35,000	-62,000	-59,000	-79,000
Net Income From Continuing Operations	2,049,000	2,578,000	1,764,000	1,961,000

These metrics estimate what Kimberly-Clark Corporation is worth based on its fundamentals — independent of what the market currently prices it at. Graham's Fair Value and NCAV are conservative floors rooted in 1930s–60s principles. EPV assumes zero growth. None are price targets — they are reference points for judging whether the current price offers a margin of safety.

Graham's Fair Value

$24.86

Margin of Safety

Market Cap ÷ Company Value

4.89

P/B Ratio

21.14

Warren's Owner Earnings

$4.0B

Latest fiscal year

Graham's 7 Criteria

Defensive Investor Checklist

3/7 — Speculative Investor

✅ Adequate Size

$16.4B

vs > $1.5B revenue

❌ Strong Financial Condition

0.75x

vs Current Ratio > 2.0x

✅ Earnings Stability

No loss years (4 yrs data)

vs No negative EPS years

✅ Dividend Record

5.18%

vs Uninterrupted dividends

❌ Earnings Growth

+5.9% EPS growth

vs > 33% EPS growth

❌ Moderate P/E Ratio

18.5x

vs P/E ≤ 15.0x

❌ Moderate Price-to-Book

21.14x P/B (P/E×P/B: 391.1)

vs P/B ≤ 1.5x | P/E × P/B ≤ 22.5

Net Current Asset Value

$-30.60

Negative NCAV — liabilities exceed current assets. Common in capital-return businesses (buybacks, debt-funded dividends) and capital-intensive industries. Not automatically a warning sign.

"Buy at two-thirds of net current assets." — Graham

Earnings Power Value

$78.70

Per share, no-growth floor. Compare to current price.

Cash Flow Analysis

Metric	2025	2024	2023	2022	2021
Capital Expenditure % of Net Income	56.3%	28.3%	43.4%	45.3%	N/A
Repurchase of Capital Stock	-$141M	-$1.0B	-$320M	-$100M	N/A
Free Cash Flow	$1.6B ▼	$2.5B ▼	$2.8B ▲	$1.9B •	N/A •
Warren's Owner Earnings	$4.0B	$4.0B	$3.3B	$3.6B	N/A

Peers & Industry

No auto-detected peers for Household & Personal Products. You can manually compare KMB against any stock using the Compare tool.

"The management of a business is its most important single factor — more important than market position, patents, or financial structure."

— Benjamin Graham

Capital Allocation & Alignment

Insider Ownership

0.71%

Low — management has little skin in the game

Return on Equity (ROE)

134.6%

Excellent — management generates strong returns on equity

Return on Assets (ROA)

11.8%

Strong — management uses assets efficiently

Share Buybacks (Latest Year)

$141M

Management is returning capital to shareholders via buybacks

Debt Trend YoY

-3.2% YoY

Debt is declining — management is deleveraging

Leadership Team

Michael Hsu

Chairman & CEO

Age 61

Pay: $3,820,416

0.189% of net income

Russell Torres

President & COO

Age 53

Pay: $1,957,659

0.097% of net income

Nelson Urdaneta

Senior VP & CFO

Age 53

Pay: $1,681,094

0.083% of net income

Ehab Abou-Oaf

President of International Family Care & Professional

Age 58

Top Institutional Holders

Institution	% Owned	Shares
Vanguard Group Inc	12.31%	40,846,734
Blackrock Inc.	8.66%	28,742,789
State Street Corporation	6.37%	21,125,118
Charles Schwab Investment Management, Inc.	3.59%	11,917,154
Geode Capital Management, LLC	2.51%	8,322,198
Massachusetts Financial Services Co.	2.36%	7,839,572
Wellington Management Group, LLP	2.22%	7,368,407
Morgan Stanley	1.72%	5,713,095

⚠️ Very high debt-to-equity — leverage risk

⚠️ Current ratio below 1 — liquidity risk

Risk Analysis

Beta (Market Risk)

0.31

Low volatility — more stable than the market

Short Interest

13.2% of float

Moderate short interest

Debt-to-Equity

3.71x

High leverage — significant financial risk

Current Ratio

0.77x

Weak liquidity — current liabilities exceed current assets

52-Week Price Range

Low: $92.42 Current: $95.65 High: $144.31

Currently at 6% of 52-week range

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