NASDAQ · Consumer Defensive

Kimberly-Clark Corporation

KMB · Household & Personal Products

$102.56

▲ 1.09 (1.07%)

Cached · 10 min

Overall Grade

Defensive

Enterprising

Profitability

A⤢

Gross Profit Margin 36.8%

Operating Margin 18.1%

Net Income Margin 16.0%

Fin. Health

F⤢

Years to Pay Off Debt 10.7 yrs

Working Capital vs Long-Term Debt -$8.1B

Working Capital -$1.6B

Valuation

F⤢

Margin of Safety 0.0%

Price-to-Book 18.96x

Cash Flow

C⤢

Free Cash Flow $321M

CapEx % of Net Income 63.8%

Owner Earnings $1.3B

Profitability

Gross Profit Margin 36.8%

Revenue minus cost of goods sold. Graham's ≥40% threshold identifies businesses with durable pricing power. Note: software and financial companies naturally exceed this; retailers and manufacturers rarely reach it due to their cost structures.

Operating Margin 18.1%

Profit after operating costs before interest and taxes. A consistent ≥15% operating margin signals a business with real competitive advantages. Capital-intensive industries (airlines, auto, commodities) rarely hit this threshold due to their structural cost base — compare within industry for context.

Net Income Margin 16.0%

Bottom-line profit as a percentage of revenue. The ≥20% target reflects Buffett's preference for highly profitable businesses. Financial engineering (buybacks, tax optimisation) can inflate this temporarily — look for consistency across multiple years rather than a single strong result.

Financial Health

Years to Pay Off Debt 10.7 yrs

Total Debt ÷ Net Income. Lower = stronger balance sheet. Important caveat: utilities, telecoms, REITs, and infrastructure companies carry large structural debt by design — their bond-like cash flows service it comfortably at ratios that would alarm Graham. Compare within sector.

Working Capital vs Long-Term Debt -$8.1B

Working Capital minus Long-Term Debt. Negative results are common and expected in capital-return-focused businesses like Apple, Domino's, and McDonald's — where aggressive buybacks and dividends intentionally reduce book equity. This does not indicate financial distress in high-FCF businesses.

Working Capital -$1.6B

Current Assets minus Current Liabilities. Negative working capital can be a deliberate efficiency strategy in businesses that collect cash before paying suppliers (retailers, fast food franchises, subscription businesses). Assess alongside free cash flow generation for full context.

Cash Flow

Free Cash Flow $321M

Operating cash flow minus capital expenditures. Buffett's most important metric — cash a business actually generates for its owners after maintaining and growing its asset base. Consistently positive FCF is one of the strongest indicators of a durable, well-run business regardless of accounting profits.

CapEx % of Net Income 63.8%

Capital expenditure as a share of net income. Low CapEx signals a capital-light business that doesn't need heavy reinvestment to sustain earnings — Buffett's ideal. High CapEx is structurally necessary in manufacturing, airlines, telecoms, and semiconductors. For these industries, a high reading reflects the business model, not poor management.

Owner Earnings $1.3B

Net Income + Depreciation & Amortisation − Capital Expenditures. Buffett's preferred measure of a company's true annual earning power — what could theoretically be distributed to owners without impairing the business. More reliable than reported EPS because it accounts for the capital cost of maintaining the business.

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

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.

Market Data

Market Cap $34.0B

Enterprise Value $41.3B

P/E (TTM) 19.84

Dividend Yield 4.99%

Exchange NASDAQ

Key Margins

Gross Profit 36.8%

Operating Margin 18.1%

Net Margin 16.0%

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 $102.56.

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

At $102.56, the stock trades at a 557% premium to its Graham Number of $15.60. 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.

Showing Key Metrics

Income Highlights

Metric	Q1 2026	Q4 2025	Q4 2024
Gross Profit %	36.8%▲	35.9%•	N/A
Operating Margin %	18.1%▲	12.4%•	N/A
Net Income %	16.0%▲	12.2%•	N/A
Diluted EPS	2.00▲	1.50•	N/A

Balance Sheet Highlights

Metric	Q1 2026	Q4 2025	Q4 2024
Total Assets	$17.2B	$17.1B	N/A
Total Debt	$7.1B▼	$7.3B•	N/A
Working Capital	-$1.6B▲	-$1.8B•	N/A
Years to Pay Debt	10.65	14.62	N/A

Cash Flow Highlights

Metric	Q1 2026	Q4 2025	Q4 2024
Free Cash Flow	$321M▼	$575M•	N/A
Owner Earnings	$1.3B	$1.1B	N/A
CapEx % of Net Income	63.8%	79.6%	N/A

Income Statement

	2026	2025	2024
Tax Rate For Calcs	0	0
Normalized EBITDA	936,000	685,000
Total Unusual Items		0	0
Total Unusual Items Excluding Goodwill		0	0
Net Income From Continuing Operation Net Minority Interest	564,000	380,000
Reconciled Depreciation	193,000	189,000
Reconciled Cost Of Revenue	2,629,000	2,615,000
EBITDA	936,000	685,000
EBIT	743,000	496,000
Net Interest Income	-53,000	-54,000
Interest Expense	58,000	60,000
Interest Income	5,000	6,000
Normalized Income	564,000	380,000
Net Income From Continuing And Discontinued Operation	665,000	499,000
Total Expenses	3,410,000	3,573,000
Total Operating Income As Reported	753,000	507,000
Diluted Average Shares	333,200	333,100
Basic Average Shares	332,500	332,667
Diluted EPS	0	0
Basic EPS	0	0
Diluted NI Availto Com Stockholders	665,000	499,000
Net Income Common Stockholders	665,000	499,000
Net Income	665,000	499,000
Minority Interests	-10,000	-11,000
Net Income Including Noncontrolling Interests	675,000	510,000
Net Income Discontinuous Operations	101,000	119,000
Net Income Continuous Operations	574,000	391,000
Earnings From Equity Interest Net Of Tax	53,000	59,000
Tax Provision	164,000	104,000
Pretax Income	685,000	436,000
Other Income Expense	-15,000	-17,000
Other Non Operating Income Expenses	-15,000	-17,000
Special Income Charges		0	0
Impairment Of Capital Assets		0	0
Net Non Operating Interest Income Expense	-53,000	-54,000
Interest Expense Non Operating	58,000	60,000
Interest Income Non Operating	5,000	6,000
Operating Income	753,000	507,000
Operating Expense	781,000	958,000
Other Operating Expenses	-139,000	3,000
Selling General And Administration	920,000	955,000
Gross Profit	1,534,000	1,465,000
Cost Of Revenue	2,629,000	2,615,000
Total Revenue	4,163,000	4,080,000
Operating Revenue	4,163,000	4,080,000

Balance Sheet

	2026	2025	2024
Treasury Shares Number	46,671	46,699
Ordinary Shares Number	331,926	331,898
Share Issued	378,597	378,597
Net Debt	6,542,000	6,480,000
Total Debt	7,084,000	7,296,000
Tangible Book Value	-120,000	-414,000
Invested Capital	8,880,000	8,670,000
Working Capital	-1,612,000	-1,815,000
Net Tangible Assets	-120,000	-414,000
Capital Lease Obligations		128,000	116,000
Common Stock Equity	1,796,000	1,502,000
Total Capitalization	8,271,000	7,976,000
Total Equity Gross Minority Interest	1,914,000	1,630,000
Minority Interest	118,000	128,000
Stockholders Equity	1,796,000	1,502,000
Gains Losses Not Affecting Retained Earnings	-3,412,000	-3,444,000
Other Equity Adjustments	-3,412,000	-3,444,000
Treasury Stock	5,982,000	5,987,000
Retained Earnings	9,850,000	9,611,000
Additional Paid In Capital	867,000	849,000
Capital Stock	473,000	473,000
Common Stock	473,000	473,000
Total Liabilities Net Minority Interest	15,270,000	15,468,000
Total Non Current Liabilities Net Minority Interest	8,367,000	8,343,000
Other Non Current Liabilities	623,000	646,000
Liabilities Heldfor Sale Non Current	149,000	151,000	139,000
Preferred Securities Outside Stock Equity	22,000	22,000
Employee Benefits	598,000	605,000
Non Current Deferred Liabilities	500,000	445,000
Non Current Deferred Taxes Liabilities	500,000	445,000
Long Term Debt And Capital Lease Obligation	6,475,000	6,474,000
Long Term Debt	6,475,000	6,474,000
Current Liabilities	6,903,000	7,125,000
Other Current Liabilities	724,000	1,222,000	1,222,000
Current Debt And Capital Lease Obligation	609,000	822,000
Current Capital Lease Obligation		128,000	116,000
Current Debt	609,000	694,000
Other Current Borrowings		694,000	564,000
Payables And Accrued Expenses	5,570,000	5,081,000
Current Accrued Expenses	1,903,000	1,029,000
Interest Payable		91,000	99,000
Payables	3,667,000	4,052,000
Dividends Payable	422,000	415,000
Total Tax Payable		249,000	253,000
Accounts Payable	3,245,000	3,388,000
Total Assets	17,184,000	17,098,000
Total Non Current Assets	11,893,000	11,788,000
Other Non Current Assets	2,761,000	2,767,000
Investments And Advances	383,000	330,000
Long Term Equity Investment	383,000	330,000
Goodwill And Other Intangible Assets	1,916,000	1,916,000
Other Intangible Assets	76,000	77,000
Goodwill	1,840,000	1,839,000
Net PPE	6,833,000	6,775,000
Accumulated Depreciation	-9,860,000	-9,734,000
Gross PPE	16,693,000	16,509,000
Construction In Progress	1,270,000	1,201,000
Machinery Furniture Equipment	12,917,000	12,820,000
Buildings And Improvements	2,362,000	2,354,000
Land And Improvements	144,000	134,000
Current Assets	5,291,000	5,310,000
Other Current Assets	547,000	93,000
Hedging Assets Current		52,000	114,000
Assets Held For Sale Current	722,000	720,000	696,000
Prepaid Assets		304,000	292,000
Inventory	1,479,000	1,475,000
Inventories Adjustments Allowances	-200,000	-191,000
Finished Goods	981,000	952,000
Work In Process	146,000	149,000
Raw Materials	552,000	565,000
Receivables	2,001,000	1,892,000
Receivables Adjustments Allowances		-45,000	-48,000
Other Receivables		154,000	126,000
Accounts Receivable	2,001,000	1,783,000
Cash Cash Equivalents And Short Term Investments	542,000	774,000
Other Short Term Investments		86,000	171,000
Cash And Cash Equivalents	542,000	688,000

Cash Flow

	2026	2025	2024
Free Cash Flow	321,000	575,000
Repurchase Of Capital Stock	0	-1,000
Repayment Of Debt	-400,000	0
Capital Expenditure	-424,000	-397,000
End Cash Position	559,000	701,000
Beginning Cash Position	701,000	634,000
Effect Of Exchange Rate Changes	-5,000	4,000
Changes In Cash	-137,000	63,000
Financing Cash Flow	-527,000	-608,000
Cash Flow From Continuing Financing Activities	-527,000	-608,000
Net Other Financing Charges	-22,000	-50,000
Proceeds From Stock Option Exercised	0	0
Cash Dividends Paid	-418,000	-418,000
Common Stock Dividend Paid	-418,000	-418,000
Net Common Stock Issuance	0	-1,000
Common Stock Payments	0	-1,000
Net Issuance Payments Of Debt	-87,000	-139,000
Net Short Term Debt Issuance	313,000	-139,000
Net Long Term Debt Issuance	-400,000	0
Long Term Debt Payments	-400,000	0
Investing Cash Flow	-355,000	-301,000
Cash Flow From Continuing Investing Activities	-355,000	-301,000
Net Other Investing Changes	36,000	32,000
Net Investment Purchase And Sale	33,000	64,000
Sale Of Investment	83,000	136,000
Purchase Of Investment	-50,000	-72,000
Capital Expenditure Reported	-424,000	-397,000
Operating Cash Flow	745,000	972,000
Cash Flow From Continuing Operating Activities	745,000	972,000
Change In Working Capital	-116,000	176,000
Other Non Cash Items	9,000	1,000
Stock Based Compensation	23,000	25,000
Asset Impairment Charge		18,000	0
Deferred Tax	36,000	37,000
Deferred Income Tax	36,000	37,000
Depreciation Amortization Depletion	193,000	189,000
Depreciation And Amortization	193,000	189,000
Operating Gains Losses	-75,000	16,000
Pension And Employee Benefit Expense	-3,000	-2,000
Earnings Losses From Equity Investments	-53,000	21,000
Net Income From Continuing Operations	675,000	510,000

📊 Quarterly mode — Graham Fair Value & 7 Criteria require annual data. Switch to Annual for full analysis.

Quarter vs Same Quarter Last Year

YoY strips seasonality

Revenue Growth (YoY)

Prior year: $4.1B ▲ $4.2B +2.7%

Revenue growth vs same quarter last year strips seasonality. Consistent double-digit growth is a Buffett hallmark.

Gross Margin

Prior year: 37.2% ▲ 36.8% -0.4pp

Buffett: consistent gross margin above 40% signals durable pricing power and competitive moat.

Operating Margin

Prior year: 18.6% ▲ 18.1% -0.5pp

Graham: operating margin reflects true business economics before financing. Trend matters as much as level.

Net Margin

Prior year: 14.0% ▲ 16.0% +2.0pp

Net margin can be distorted by one-time items, tax timing, or interest costs — compare to operating margin for signal quality.

Quarterly Health Checks

3 Graham/Buffett criteria that are valid and reliable on quarterly data

✅ Adequate Size

Graham required scale for resilience. Quarterly revenue × 4 gives an annualised proxy.

$4.2B/qtr (≈$16.7B ann.)

vs > $1.5B annualised revenue

❌ Financial Condition

Current assets vs current liabilities — a real-time liquidity snapshot. Valid and reliable on quarterly data.

0.77x current ratio

vs ≥ 2.0x

✅ Free Cash Flow

Buffett's most important single metric. A positive FCF quarter means the business generated real cash for owners after maintaining its asset base.

$321M

vs Positive

Operating Cash Flow

$745M

Latest quarter · Buffett's cash reality check

ROIC

5.8%

Based on latest annual operating income

Return on Invested Capital — Buffett's preferred measure for asset-light businesses. ROIC > 15% consistently signals a durable competitive advantage (moat). More meaningful than P/B for software, pharma, and consumer brand companies where most value is intangible and off-balance-sheet.

Market Cap / Net Assets

17.8x

Net Assets: $1.9B

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)

37.0%

Excellent — management generates strong returns on equity

Return on Assets (ROA)

3.9%

Fair — average asset utilization

Share Buybacks (Latest Year)

$141M

Management is returning capital to shareholders via buybacks

Debt Trend YoY

-2.9% YoY

Debt is declining — management is deleveraging

Leadership Team

Michael Hsu

Chairman & CEO

Age 61

Pay: $3,820,416

0.574% of net income

Russell Torres

President & COO

Age 53

Pay: $1,957,659

0.294% of net income

Nelson Urdaneta

Senior VP, CFO & Interim Principal Accounting Officer,

Age 53

Pay: $1,681,094

0.253% of net income

Ehab Abou-Oaf

President of International Family Care & Professional

Age 58

Top Institutional Holders

Institution	% Owned	Shares
Blackrock Inc.	9.10%	30,197,838
State Street Corporation	6.52%	21,648,820
Vanguard Capital Management LLC	6.49%	21,545,586
Vanguard Portfolio Management LLC	4.87%	16,154,102
Charles Schwab Investment Management, Inc.	2.91%	9,660,478
Wellington Management Group, LLP	2.70%	8,956,524
Geode Capital Management, LLC	2.60%	8,638,221
Massachusetts Financial Services Co.	2.30%	7,644,811

⚠️ Very high debt-to-equity — leverage risk

⚠️ Current ratio below 1 — liquidity risk

Risk Analysis

Beta (Market Risk)

0.30

Low volatility — more stable than the market

Short Interest

14.9% 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: $102.56 High: $137.46

Currently at 23% of 52-week range

Kimberly-Clark Corporation

Metric Explanations

Full Graham Analysis

Income Highlights

Balance Sheet Highlights

Cash Flow Highlights

Quarter vs Same Quarter Last Year

Quarterly Health Checks

Operating Cash Flow

ROIC

Market Cap / Net Assets

Peers & Industry

Capital Allocation & Alignment

Leadership Team

Top Institutional Holders

Risk Analysis