What is Kenvue Inc. worth?
With the base-case assumptions below, a discounted cash flow model on Kenvue Inc.'s reported free cash flow gives $12.80 per share. The share price was $19.31 on October 30, 2026, 51% above that value.
Inputs from the filings
Three sets of assumptions
| Case | Growth yrs 1-5 | Discount rate | Value per share | Value vs price |
|---|---|---|---|---|
| Bear | -5.0% | 10.0% | $8.20 | -58% |
| Base | 0.0% | 9.0% | $12.80 | -34% |
| Bull | 5.0% | 8.0% | $21.39 | +11% |
Sensitivity: base case value per share
| 1.5% | 2.0% | 2.5% | 3.0% | 3.5% | |
|---|---|---|---|---|---|
| 7.0% | $15.99 | $16.94 | $18.11 | $19.56 | $21.43 |
| 8.0% | $13.63 | $14.24 | $14.97 | $15.85 | $16.92 |
| 9.0% | $11.89 | $12.32 | $12.80 | $13.37 | $14.05 |
| 10.0% | $10.57 | $10.87 | $11.21 | $11.60 | $12.05 |
| 11.0% | $9.52 | $9.74 | $9.99 | $10.27 | $10.58 |
Where the presets come from
Base: years 1 to 5 grow at Kenvue Inc.'s revenue growth rate over the last 4 fiscal years (0.1% a year), held between -5% and 15%. Years 6 to 10 grow halfway between that and the long-run rate of 2.5%. Future cash is discounted at 9% a year.
Bear: 5 points less growth, 2% long-run growth, 10% discount rate. Bull: 5 points more growth (at most 25%), 3% long-run growth, 8% discount rate.
Value per share = (present value of 10 years of free cash flow + present value of everything after + cash - debt) / diluted shares.
This is a model run on assumptions, not a recommendation or a price target. Small changes in the discount rate or growth move the result a lot, as the table above shows. Change them yourself in the calculator.
Adjust the assumptions
Move the sliders for growth, long-run growth and discount rate, or switch to average free cash flow, and see the value per share change.
Adjust the assumptions