olivLaw · US equity research
Kimberly-Clark Corporation KMB
Converted Paper & Paperboard Prods (No Contaners/Boxes) · SIC 2670 · Vertical: Paper and allied products (SIC 267x)
Kimberly-Clark (KMB) is a global maker of essential products from fibers and nonwovens, with brands such as Huggies, Kleenex and Scott sold in more than 175 countries and territories. The company is preparing to acquire Kenvue, for which about 6.7 billion USD is expected to be paid, and completed a joint venture with Suzano for its IFP operations, valued at about 1.7 billion USD. The 2026 outlook shows organic sales growth slightly below its categories, due to China disruptions.
At the close of 03 Nov 2026, Kimberly-Clark Corporation (KMB) stock was 104.46 USD (−3.50% on the day), with market capitalisation 34.7 bn USD, P/E 17.8 on diluted EPS of 5.88 USD over the last 12 months, dividend yield 4.86%, beta 0.07, 52-week range 93.05–114.74 USD. Latest reported quarter (Q2 2026): revenue of 4.2 bn USD (+0.6% YoY), net income of 345.0 m USD (−32.2% YoY), diluted EPS 1.04 USD.
Data as of · AI analysis dated · Source: SEC filings and closing prices, computed by olivLaw.
Price history
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Technical reading
- RSI (14)
- 49.0
- neutral
- Bollinger (20, 2)
- 95.08 – 114.78
- in the lower half of the band · %B 0.48 · band width 18.8%
- SMA 50 / 200
- 102.66 / 103.06
- mixed trend
- MACD (12, 26, 9)
- 1.99 / 2.02
- MACD below signal
Indicators describe past prices; on their own they do not predict direction. On our history the RSI ≤ 40 filter added no return (see the signals methodology).
Performance
| Company | S&P 500 | vs S&P 500 | Vertical median | |
|---|---|---|---|---|
| 1 month | +10.7% | −2.0% | +12.7 pp | — |
| 3 months | −6.4% | −2.2% | −4.2 pp | — |
| 6 months | +7.5% | +4.3% | +3.2 pp | — |
| Year to date | +3.5% | +10.6% | −7.0 pp | — |
| 1 year | +2.1% | +10.5% | −8.3 pp | −32.0% |
| 3 years | −12.5% | +73.7% | −86.2 pp | −18.0% |
| 5 years | −20.4% | +61.7% | −82.1 pp | — |
Price returns, dividends excluded.
Quarterly results
Latest quarter: Q2 2026 · 30 Jun 2026
Quarterly margins
Quarterly statements · USD
| Fiscal year | Q3 '24 | Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | Q1 '26 | Q2 '26 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 4.1 bn | 4.1 bn | 4.1 bn | 4.2 bn | 4.2 bn | 4.1 bn | 4.2 bn | 4.2 bn |
| Cost of revenue | 2.6 bn | 2.7 bn | 2.5 bn | 2.7 bn | 2.7 bn | 2.6 bn | 2.6 bn | 2.6 bn |
| Gross profit | 1.6 bn | 1.4 bn | 1.5 bn | 1.5 bn | 1.5 bn | 1.5 bn | 1.5 bn | 1.6 bn |
| Operating income | 1.0 bn | 420.0 m | 631.0 m | 592.0 m | 621.0 m | 507.0 m | 753.0 m | 633.0 m |
| Depreciation & amortisation | 191.0 m ≈ | 217.0 m | 218.0 m | 222.0 m ≈ | 176.0 m ≈ | 189.0 m | 193.0 m | 167.0 m ≈ |
| Interest expense | 67.0 m | 64.0 m | 64.0 m | 67.0 m | 65.0 m | 60.0 m | 58.0 m | 53.0 m |
| Pre-tax income | 962.0 m | 861.0 m | 557.0 m | 513.0 m | 546.0 m | 436.0 m | 685.0 m | 572.0 m |
| Income tax | 187.0 m | 47.0 m | 131.0 m | 116.0 m | 248.0 m | 104.0 m | 164.0 m | 217.0 m |
| Net income | 907.0 m | 447.0 m | 567.0 m | 509.0 m | 446.0 m | 499.0 m | 665.0 m | 345.0 m |
| Diluted EPS | 2.69 | 1.34 | 1.70 | 1.53 | 1.34 | 1.50 | 2.00 | 1.04 |
| Operating cash flow | 958.0 m ≈ | 817.0 m | 327.0 m | 770.0 m ≈ | 708.0 m ≈ | 972.0 m | 745.0 m | 908.0 m ≈ |
| Capex | 160.0 m ≈ | 209.0 m | 204.0 m | 197.0 m ≈ | 340.0 m ≈ | 397.0 m | 424.0 m | 352.0 m ≈ |
| Dividends paid | 411.0 m ≈ | 408.0 m | 405.0 m | 419.0 m ≈ | 418.0 m ≈ | 418.0 m | 418.0 m | 425.0 m ≈ |
| Share repurchases | 596.0 m ≈ | 248.0 m | 61.0 m | 59.0 m ≈ | 20.0 m ≈ | 1.0 m | 0 | 0 ≈ |
≈ derived quarter (cumulative difference / share-days average)
E/P over time
E/P = trailing-12-month diluted EPS / price at quarter end. E/P is the inverse of P/E and stays defined when earnings are negative.
Today's P/E sits at the 9 percentile of its own 43-quarter history (min 15.1, median 21.7, max 46.1; quarters with earnings only).
Fiscal years
| Fiscal year | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 18.5 bn | 18.5 bn | 19.1 bn | 19.4 bn | 20.2 bn | 17.1 bn | 16.8 bn | 16.4 bn |
| Revenue YoY | +0.8% | −0.2% | +3.7% | +1.6% | +3.8% | −15.0% | −2.0% | −2.1% |
| Net income | 1.4 bn | 2.2 bn | 2.4 bn | 1.8 bn | 1.9 bn | 1.8 bn | 2.5 bn | 2.0 bn |
| Net income YoY | −38.1% | +53.0% | +9.0% | −22.9% | +6.6% | −8.8% | +44.3% | −20.6% |
| Diluted EPS | 4.03 | 6.24 | 6.87 | 5.35 | 5.72 | 5.21 | 7.55 | 6.07 |
| Diluted EPS YoY | −37.0% | +54.8% | +10.1% | −22.1% | +6.9% | −8.9% | +44.9% | −19.6% |
| net % | 7.6% | 11.7% | 12.3% | 9.3% | 9.6% | 10.3% | 15.1% | 12.3% |
| Free cash flow | 2.1 bn | 1.5 bn | 2.5 bn | 1.7 bn | 1.9 bn | 2.8 bn | 2.5 bn | 1.6 bn |
Reported results vs expectations
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Balance sheet & financial health
Fiscal year 2025 · 31 Dec 2025
- Cash
- 688.0 m USD
- Financial debt
- 694.0 m USD
- Net debt
- 6.0 m USD
- Equity
- 1.6 bn USD
- Total assets
- 17.1 bn USD
- Debt / equity
- 0.43x
- Current ratio
- 0.75x
- ROE
- 155.2%
- ROA
- 12.0%
- FCF margin
- 10.0%
Financial statements (source on every figure)
Revenue and net income (USD)
Margins
Income statement · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Revenue | 19.1 bn | 19.4 bn | 20.2 bn | 17.1 bn | 16.8 bn | 16.4 bn | SEC (XBRL)· 12 Feb 2026verified |
| Cost of revenue | 12.3 bn | 13.5 bn | 14.0 bn | 10.9 bn | 10.5 bn | 10.5 bn | SEC (XBRL)· 12 Feb 2026verified |
| Gross profit | 6.8 bn | 6.0 bn | 6.2 bn | 6.3 bn | 6.3 bn | 5.9 bn | SEC (XBRL)· 12 Feb 2026verified |
| Research & development | 276.0 m | 269.0 m | 292.0 m | 303.0 m | 328.0 m | 326.0 m | SEC (XBRL)· 12 Feb 2026verified |
| Operating income | 3.2 bn | 2.6 bn | 2.7 bn | 1.9 bn | 2.7 bn | 2.4 bn | SEC (XBRL)· 12 Feb 2026verified |
| Depreciation & amortisation | 796.0 m | 766.0 m | 754.0 m | 753.0 m | 781.0 m | 805.0 m | SEC (XBRL)· 12 Feb 2026verified |
| EBITDA | 4.0 bn ≈ | 3.3 bn ≈ | 3.4 bn ≈ | 2.7 bn ≈ | 3.5 bn ≈ | 3.2 bn ≈ | SEC (XBRL)· 12 Feb 2026derived |
| Interest expense | 252.0 m | 256.0 m | 282.0 m | 293.0 m | 270.0 m | 256.0 m | SEC (XBRL)· 12 Feb 2026verified |
| Pre-tax income | 2.9 bn | 2.2 bn | 2.3 bn | 2.0 bn | 2.9 bn | 2.1 bn | SEC (XBRL)· 12 Feb 2026verified |
| Income tax | 676.0 m | 479.0 m | 495.0 m | 343.0 m | 442.0 m | 599.0 m | SEC (XBRL)· 12 Feb 2026verified |
| Net income | 2.4 bn | 1.8 bn | 1.9 bn | 1.8 bn | 2.5 bn | 2.0 bn | SEC (XBRL)· 12 Feb 2026verified |
| Diluted EPS | 6.87 | 5.35 | 5.72 | 5.21 | 7.55 | 6.07 | SEC (XBRL)· 12 Feb 2026verified |
| Weighted average diluted shares | 342.5 m | 338.8 m | 338.3 m | 338.8 m | 337.0 m | 333.2 m | SEC (XBRL)· 12 Feb 2026verified |
| Dividend per share | 4.28 | 4.56 | 4.64 | 4.72 | 4.88 | 5.04 | SEC (XBRL)· 12 Feb 2026verified |
≈ computed by olivLaw from the reported lines of the same year: Operating income + Depreciation & amortisation.
Balance sheet · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Cash | 303.0 m | 270.0 m | 427.0 m | 1.1 bn | 1.0 bn | 688.0 m | SEC (XBRL)· 12 Feb 2026verified |
| Receivables | 2.2 bn | 2.2 bn | 2.3 bn | 2.1 bn | 1.7 bn | 1.9 bn | SEC (XBRL)· 12 Feb 2026verified |
| Inventories | 1.9 bn | 2.2 bn | 2.3 bn | 2.0 bn | 1.5 bn | 1.5 bn | SEC (XBRL)· 12 Feb 2026verified |
| Current assets | 5.2 bn | 5.6 bn | 5.7 bn | 5.7 bn | 5.6 bn | 5.3 bn | SEC (XBRL)· 12 Feb 2026verified |
| Property, plant & equipment, net | 8.0 bn | 8.1 bn | 7.9 bn | 7.9 bn | 6.3 bn | 6.8 bn | SEC (XBRL)· 12 Feb 2026verified |
| Goodwill | 1.9 bn | 1.8 bn | 2.1 bn | 1.9 bn | 1.8 bn | 1.8 bn | SEC (XBRL)· 12 Feb 2026verified |
| Intangibles (excl. goodwill) | 832.0 m | 810.0 m | 851.0 m | 197.0 m | 80.0 m | 77.0 m | SEC (XBRL)· 12 Feb 2026verified |
| Total assets | 17.5 bn | 17.8 bn | 18.0 bn | 17.3 bn | 16.5 bn | 17.1 bn | SEC (XBRL)· 12 Feb 2026verified |
| Accounts payable | 3.3 bn | 3.8 bn | 3.8 bn | 3.7 bn | 3.3 bn | 3.4 bn | SEC (XBRL)· 12 Feb 2026verified |
| Short-term debt | 486.0 m | 433.0 m | 844.0 m | 567.0 m | 564.0 m | 694.0 m | SEC (XBRL)· 12 Feb 2026verified |
| Current liabilities | 6.4 bn | 6.7 bn | 7.3 bn | 6.9 bn | 7.0 bn | 7.1 bn | SEC (XBRL)· 12 Feb 2026verified |
| Equity | 869.0 m | 737.0 m | 700.0 m | 1.1 bn | 975.0 m | 1.6 bn | SEC (XBRL)· 12 Feb 2026verified |
Cash flow · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Operating cash flow | 3.7 bn | 2.7 bn | 2.7 bn | 3.5 bn | 3.2 bn | 2.8 bn | SEC (XBRL)· 12 Feb 2026verified |
| Capex | 1.2 bn | 1.0 bn | 876.0 m | 766.0 m | 721.0 m | 1.1 bn | SEC (XBRL)· 12 Feb 2026verified |
| Free cash flow | 2.5 bn ≈ | 1.7 bn ≈ | 1.9 bn ≈ | 2.8 bn ≈ | 2.5 bn ≈ | 1.6 bn ≈ | SEC (XBRL)· 12 Feb 2026derived |
| Investing cash flow | -2.3 bn | -1.1 bn | -785.0 m | -418.0 m | -100.0 m | -951.0 m | SEC (XBRL)· 12 Feb 2026verified |
| Financing cash flow | -1.6 bn | -1.7 bn | -1.8 bn | -2.4 bn | -3.2 bn | -2.2 bn | SEC (XBRL)· 12 Feb 2026verified |
| Dividends paid | 1.5 bn | 1.5 bn | 1.6 bn | 1.6 bn | 1.6 bn | 1.7 bn | SEC (XBRL)· 12 Feb 2026verified |
| Share repurchases | 700.0 m | 400.0 m | 100.0 m | 225.0 m | 1.0 bn | 141.0 m | SEC (XBRL)· 12 Feb 2026verified |
≈ computed by olivLaw from the reported lines of the same year: Operating cash flow − Capex.
Computed indicators
Growth
Profitability
Returns
Balance sheet
Liquidity
Cash
Efficiency
Market and valuation
1 indicators that do not apply to the sector.
Valuation
olivLaw classification
Score: 62 / 100
A scoring methodology on indicators and valuation, not investment advice.
(margin_of_safety <= -0.25 & agreement in ['high', 'medium'])
Closing price
03 Nov 2026Source: olivLaw, closing series
Market cap: 34.7 bn USD
Key indicators
Coverage and freshness
Score by group
- Balance sheet82
- Growth7
- Quality97
- Returns58
- Valuation53
Estimated value range
The combined range = the median of the valid methods' low, central and high values; it is not a probability interval and does not cover every result. Envelope of all methods: 65.52 – 97.45 USD.
Valuation assumptions are editorial choices, not measured; beta is not measured.
Method ranges (USD per share)
— — Mid · ▏ Price
Valuation methods
- DCF (discounted cash flow)65.52 – 97.45 (Mid 77.99)WACC 9.3% · starting FCFF 2.0 bn USD · terminal value share of EV 72%The WACC × g sensitivity gives the method's bounds; these are not probabilities.Reverse DCF: starting growth implied by the price (fading linearly to terminal growth, everything else fixed): 8.1%
- Peers: EV/EBITDAunavailable · not enough peers
- Peers: P/Eunavailable · not enough peers
- Dividend discount (DDM)66.23 – 89.07 (Mid 75.97)
Classification (SIC) comparables group by industry code, not by economic activity; the direct group is an editorial selection by activity. Members' multiples are on their own trailing twelve months, at their own latest close.
Assumptions (illustrative, editorial)
- Risk-free rate
- 4.3%
- Equity risk premium
- 5.0%
- Beta (default)
- 1.00
- Cost of equity
- 9.3%
- Terminal growth
- 2.5%
Factor scorecard
Unattractive profile · Score 62/100
| Factor | Value | Score | Weight used |
|---|---|---|---|
| ROIC · Quality | 135.2% | 100 (on a fixed band) | 10% |
| Net margin · Quality | 11.8% | 100 (vs peers) | 6% |
| FCF conversion · Quality | 93.1% | 90 (on a fixed band) | 6% |
| Revenue CAGR 3Y · Growth | -6.6% | 0 (on a fixed band) | 8% |
| EPS CAGR 3Y · Growth | 2.0% | 13 (on a fixed band) | 8% |
| Net debt / EBITDA · Balance sheet | -0.3x | 100 (on a fixed band) | 10% |
| Interest coverage · Balance sheet | 10.7x | 100 (on a fixed band) | 6% |
| Current ratio · Balance sheet | 0.9x | 9 (on a fixed band) | 4% |
| P/E (TTM) · Valuation | 17.8x | 56 (on a fixed band) | 10% |
| EV/EBITDA · Valuation | 10.4x | 41 (on a fixed band) | 10% |
| FCF yield · Valuation | 5.2% | 65 (on a fixed band) | 8% |
| Shareholder yield (distributions) · Returns | 4.9% | 70 (on a fixed band) | 6% |
| Payout ratio (FCF) · Returns | 92.3% | 40 (on a fixed band) | 4% |
Score groups
- Balance sheet82/100 · 3/3 factors with a value
- Growth7/100 · 2/2 factors with a value
- Quality97/100 · 3/3 factors with a value
- Returns58/100 · 2/2 factors with a value
- Valuation53/100 · 3/3 factors with a value
Memo
KIMBERLY-CLARK CORPORATION (KMB). Latest full fiscal year: 2025; data up to 2026-06-30.
Figures computed from the financial statements: revenue 16.4 bn USD in 2025; YoY growth -2.1%; net margin 11.8%; ROE 129.4%; net debt/EBITDA -0.3x.
The estimated value range is 65.88–93.26 USD per share (median of 2 methods, agreement: high); assumptions are illustrative. Against the central value of 76.98 USD, the price of 104.46 USD leaves a potential of -26.3% (value / price − 1) and a margin of safety of -35.7% (1 − price / value). The range is the median of the methods' low, central and high values, not a probability interval.
olivLaw score 62/100, methodological classification: unattractive profile (score, margin of safety and method agreement together; not a judgement of the right price). Not investment advice.
Text generated deterministically from the figures shown; no language model. Not investment advice.
What supports the thesis
- ROIC: 135.2%
- Net margin: 11.8%
- FCF conversion: 93.1%
- Net debt / EBITDA: -0.3x
- Interest coverage: 10.7x
What contradicts it
- Revenue CAGR 3Y: -6.6%
- EPS CAGR 3Y: 2.0%
- Current ratio: 0.9x
- The price is above the estimated value range
Versus the vertical median
Paper and allied products (SIC 267x) · same industry group (3-digit SIC) · compared with 5 companies
The size band was not applied: too few companies would have remained; the vertical includes much smaller or larger companies.
Multiples and returns vs the median
Price rebased to 100 (monthly, 5 years)
Companies in the vertical
| Market cap | P/E | ROE | Net margin | Revenue YoY | 1A / 3A | |
|---|---|---|---|---|---|---|
| KMBKimberly-Clark Corporation | 34.7 bn | 17.8 | 129.4% | 11.8% | −2.1% | +2% / −13% |
| AVYAvery Dennison Corporation | 14.5 bn | 20.8 | 30.8% | 7.6% | +1.1% | +12% / −1% |
| REYNReynolds Consumer Products Inc. | 5.3 bn | 16.1 | 15.0% | 8.7% | +0.7% | +1% / −4% |
| PACKRanpak Holdings Corp. | 288.2 m | — | -6.6% | -8.3% | +7.1% | −32% / −18% |
| DSYBig Tree Cloud Holdings Limited | 284.1 m | — | -232.8% | -551.3% | −49.3% | −64% / −98% |
| ITPIt Tech Packaging, Inc. | 2.1 m | — | -6.9% | -13.9% | −12.4% | −45% / −57% |
1- and 3-year price returns: for KMB from daily closes (the same as the performance table), for the other companies from month-end closes.
olivLaw engine forecast
The world engine ran after the company's latest material disclosure. Probabilities are of TOUCHING a level within the horizon (not closing there) and sit next to the random walk (p_rw), the no-information benchmark.
Valuation scenarios (editable assumptions)
Illustrative scenarios
Illustrative: not forecasts and without probabilities. Each case is one coherent set of assumptions, computed on today's figures.
Estimated price (USD)
| Estimated price | Bear | Base | Bull |
|---|---|---|---|
| 1 years | 55.83 Total return -43% · Per year -43% | 99.21 Total return -0% · Per year -0% | 150.12 Total return 49% · Per year 49% |
| 3 years | 44.33 Total return -48% · Per year -20% | 89.54 Total return -1% · Per year -0% | 150.12 Total return 60% · Per year 17% |
| 5 years | 35.20 Total return -52% · Per year -14% | 80.81 Total return -2% · Per year -0% | 150.12 Total return 72% · Per year 11% |
- Exit P/E± 22.38
- Net margin± 15.67
- Annual revenue growth± 14.15
- Annual dilution± 1.32
AI analysis
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
In brief
Kimberly-Clark (KMB) is a global maker of essential products from fibers and nonwovens, with brands such as Huggies, Kleenex and Scott sold in more than 175 countries and territories 1. The company is preparing to acquire Kenvue, for which about 6.7 billion USD is expected to be paid 1, and completed a joint venture with Suzano for its IFP operations, valued at about 1.7 billion USD 12. The 2026 outlook shows organic sales growth slightly below its categories, due to China disruptions 3.
SWOT
Strengths
- A brand portfolio with top market positions in many countries and strong global recognition 1.
- Manufacturing and sales presence in a very large number of countries, with a geographically diversified portfolio 1.
- Financial discipline and a structured program of cost savings and operational transformation 12.
Weaknesses
Opportunities
Risks
- Raw material and energy costshigh
Rising prices for pulp, petroleum-based materials and energy could hurt results if selling price adjustments lag 1.
- Kenvue integrationhigh
The value and synergies of the deal depend on financing terms and share price, and completion could be delayed or fail 13.
- China disruptionmedium
False product claims could continue to weigh on sales and profits in the near term 23.
- Currency and political riskmedium
Currency movements and exchange restrictions could affect results from operations outside the U.S. 1.
- Cybersecuritymedium
Cyberattacks or data breaches could disrupt operations and generate remediation costs and fines 1.
Investment thesis
What would need to be true (bull case)
What would break the thesis
- Organic growth slightly below categories, combined with China disruption, could limit profit growth in 2026 3.
- Extra energy and raw material costs linked to Middle East conflicts could pressure margins 2.
- Pressure from private label and large retailers could reduce prices and sales of higher-margin products 1.
What to watch
- Final third quarter results and the evolution of the 2026 outlookQ3 2026
- Completion of the Kenvue transaction and its financing terms2026
- Realization of transformation savings through the end of 20282027
Products, market & competition
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
The business
Kimberly-Clark manufactures and markets a wide range of products made from natural or synthetic fibers, using technologies in fibers, nonwovens and absorbency 1. Its portfolio includes Huggies, Kleenex, Scott, Kotex and Cottonelle, which hold No. 1 or No. 2 share positions in about 70 countries 1. The company organizes its products into five daily-need categories: Baby & Child Care, Adult Care, Feminine Care, Family Care and Professional 1.
Key raw materials are kraft pulp for tissue, polypropylene and other synthetics for nonwovens, and superabsorbent materials for diapers and incontinence products 1. Price changes in these inputs and energy can affect margins if selling price adjustments trail cost increases 1. Sales are made mainly through supermarkets, mass merchandisers and drugstores 1.
In 2026 the company extended its 2024 Transformation Initiative through the end of 2028, and the Kenvue and IFP transactions signal a portfolio shift toward categories with long-term potential 12. This could change the growth profile and margins if integration proceeds as planned 23.
Segments
North America (NA)
The NA segment covers sales in the United States and Canada, where the largest customer, Walmart, accounts for a significant share of sales 1. NA operations were reorganized after the IFP transaction and are reported separately from operations outside the region 1.
International Personal Care (IPC)
The IPC segment brings together the international operations that remain after the IFP transaction, including developing markets such as China, Eastern Europe, ASEAN and Latin America 1. About half of net sales come from outside the U.S., making the segment sensitive to currency and political risks 1.
Market context
Trends
- Declining birth ratesheadwind
Baby and child care sales are closely tied to birth rates, and declines in China, South Korea and the U.S. have weighed on volume growth 1. The company aims to offset this through innovation and premiumization 1.
- China social media disruptionheadwind
In the second quarter of 2026, false claims about the quality of certain diaper brands in China significantly affected sales, and the impact could continue in the near term 2. The company says independent testing confirmed product quality 23.
- Middle East conflict and energy pricesheadwind
Geopolitical tensions have raised oil and petroleum-derived raw material prices, which could add input costs in the second half of 2026 2. The company is evaluating mitigation actions 2.
- Transformation program and savingstailwind
The 2024 Transformation Initiative, extended through the end of 2028, targets gross productivity savings of 3.0 billion USD and a lower structural cost base 12. Most of the expected SG&A savings have already been realized or approved for action 2.
Competitive position
Kimberly-Clark faces several major competitors in most of its markets, some of which are larger and more diversified than the company 1. The main elements of competition are brand recognition, product innovation, quality, price, and marketing and distribution capabilities 1.
Competitive pressure also comes from private label, especially in Baby and Child Care and Family Care, and growing private label purchases could reduce sales of higher-margin products 1.
- Private label manufacturers
Lower-priced offerings in Baby and Child Care and Family Care, pressuring prices 1.
- Global, regional and local manufacturers
Competition on price, innovation and distribution across all of the company's markets 1.
- Large retailers and discounters
Increasing retail concentration with pressure on pricing 1.
- Larger, more diversified consumer products companies
Competitors with broader scale in several markets, relevant for brand and innovation comparison 1.
Links, dependencies and risks
Who the company is tied to, from its own SEC filings (customers, suppliers, production, partners, competitors, countries, regulation), from the 5 %+ holders' statements (13D/13G) and from what other companies say about it. Click a node for its evidence; on a listed company the graph moves to it.
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News & filings
In the press
No news in our archive over the last 180 days.
SEC filings
- Current report04 Nov 2026Material agreement · Creation of a direct financial obligation · Item 3.03 · Other events · Financial statements and exhibits
- Current report02 Nov 2026Acquisition or disposition of assets · Exit or disposal costs · Departure or appointment of officers · Amendments to articles or bylaws · Regulation FD disclosure · Financial statements and exhibits
- Current report29 Oct 2026Material agreement · Creation of a direct financial obligation · Other events · Financial statements and exhibits
- Current report28 Oct 2026Other events · Financial statements and exhibits
- Current report20 Oct 2026Other events · Financial statements and exhibits
- Current report15 Oct 2026Results of operations · Regulation FD disclosure · Financial statements and exhibits
- Current report13 Oct 2026Other events · Financial statements and exhibits
- Current report01 Oct 2026Departure or appointment of officers
- Current report28 Sept 2026Other events · Financial statements and exhibits
- Quarterly report04 Aug 2026
Sources
- [1] Form 10-K, fiscal year ended 2025-12-31 · SEC / Kimberly-Clark Corporation · 12 Feb 2026
- [2] Form 10-Q, quarter ended 2026-06-30 · SEC / Kimberly-Clark Corporation · 04 Aug 2026
- [3] Form 8-K, results release (exhibit 99.1) · SEC / Kimberly-Clark Corporation · 15 Oct 2026
Figures computed by olivLaw from SEC filings and closing prices; the qualitative analysis is AI-generated from cited sources. Not investment advice.