Kimberly-Clark Corporation (KMB) Valuation

Valuation

Model-based estimates, not advice. The DCF is the discounted-cash-flow value per share; compare it with the price, not as a target.

DCF fair value

+26.8%

$138.04

vs $108.87 price

Levered DCF

$144.96

After debt service

Piotroski score

6 / 9

Average

Altman Z-score

3.32

Safe zone

Rating

B+

Overall 3 / 5

Ratios by fiscal year

Margins and yields are shares of revenue, equity or price; multiples are ×.

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
P/E	16.59×	17.29×	23.32×	23.69×	26.57×	19.54×	21.9×	28.13×
P/B	22.37×	52.57×	44.96×	83.73×	93.79×	73.38×	-1,432.19×	-138.16×
P/S	1.95×	2.2×	2.01×	2.27×	2.48×	2.4×	2.56×	2.14×
EV / EBITDA	12.2×	12.83×	15.7×	15.97×	17.44×	13.61×	14.29×	15.74×
Gross margin	35.6%	35.8%	34.4%	30.8%	30.8%	35.6%	32.7%	30.3%
Operating margin	14.5%	16.0%	11.5%	13.3%	13.2%	16.9%	16.2%	12.1%
Net margin	11.7%	12.7%	8.6%	9.6%	9.3%	12.3%	11.7%	7.6%
Current ratio	0.75×	0.8×	0.82×	0.78×	0.82×	0.8×	0.73×	0.77×
Debt / equity	4.86×	9.42×	8.87×	15.63×	16.93×	13.57×	-238.7×	-25.98×
Interest coverage	9.72×	11.89×	8×	9.51×	10×	12.87×	11.46×	8.48×
Dividend yield	4.9%	3.7%	3.9%	3.4%	3.1%	3.2%	3.0%	3.5%
Payout ratio	82.1%	64.0%	90.0%	80.6%	83.6%	61.7%	65.3%	98.3%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	134.6%	303.0%	192.8%	353.6%	352.9%	375.7%	-6536.4%	-491.3%
Return on invested capital	17.4%	25.8%	16.8%	18.4%	17.4%	21.3%	23.3%	18.0%
Return on assets	11.7%	15.4%	10.2%	10.8%	10.2%	13.4%	14.1%	9.7%
Free cash flow yield	4.9%	5.7%	6.7%	4.1%	3.6%	5.5%	3.2%	5.3%
Earnings yield	6.0%	5.8%	4.3%	4.2%	3.8%	5.1%	4.6%	3.6%
Enterprise value	$40.2B	$51.1B	$48.2B	$53.9B	$56.6B	$54.1B	$54.7B	$46.6B
Net debt / EBITDA	2×	1.73×	2.29×	2.41×	2.6×	2.06×	1.94×	2.34×
Cash conversion cycle (days)	-23	-17	-8	1	-2	0	8	4