Kenvue Inc.

DB:J4D Stock Report

Market Cap: €44.3b

Kenvue Valuation

Is J4D undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

2/6

Valuation Score 2/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of J4D when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: J4D (€22.72) is trading below our estimate of fair value (€34.65)

Significantly Below Fair Value: J4D is trading below fair value by more than 20%.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for J4D?

Key metric: As J4D is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for J4D. This is calculated by dividing J4D's market cap by their current earnings.
What is J4D's PE Ratio?
PE Ratio43.4x
EarningsUS$1.06b
Market CapUS$46.17b

Price to Earnings Ratio vs Peers

How does J4D's PE Ratio compare to its peers?

The above table shows the PE ratio for J4D vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average35.1x
BEI Beiersdorf
37.3x12.7%€27.6b
HEN3 Henkel KGaA
18.6x6.5%€30.9b
HLN Haleon
28.5x10.6%UK£34.4b
500696 Hindustan Unilever
56x9.5%₹5.7t
J4D Kenvue
43.4x20.8%€46.2b

Price-To-Earnings vs Peers: J4D is expensive based on its Price-To-Earnings Ratio (43.4x) compared to the peer average (35.1x).

Price to Earnings Ratio vs Industry

How does J4D's PE Ratio compare vs other companies in the European Personal Products Industry?

2 CompaniesPrice / EarningsEstimated GrowthMarket Cap
J4D 43.4xIndustry Avg. 22.5xNo. of Companies5PE01224364860+
2 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: J4D is expensive based on its Price-To-Earnings Ratio (43.4x) compared to the European Personal Products industry average (22.5x).

Price to Earnings Ratio vs Fair Ratio

What is J4D's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

J4D PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio43.4x
Fair PE Ratio34.9x

Price-To-Earnings vs Fair Ratio: J4D is expensive based on its Price-To-Earnings Ratio (43.4x) compared to the estimated Fair Price-To-Earnings Ratio (34.9x).

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst J4D forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Current€22.72
€23.42
+3.1%
7.9%€25.62€19.92n/a14
Nov ’25€21.24
€22.18
+4.4%
7.9%€24.97€19.42n/a14
Oct ’25€20.37
€20.75
+1.9%
9.7%€24.30€16.20n/a15
Sep ’25€19.95
€20.59
+3.2%
9.3%€23.80€16.48n/a14
Aug ’25€16.84
€20.17
+19.8%
10.1%€23.51€16.59n/a14
Jul ’25€16.72
€21.06
+25.9%
9.4%€23.83€16.82n/a14
Jun ’25€17.18
€20.75
+20.8%
9.4%€23.48€16.57n/a14
May ’25€17.60
€21.03
+19.5%
9.7%€23.90€16.87n/a15
Apr ’25€19.80
€20.93
+5.7%
8.6%€23.42€18.37n/a14
Mar ’25€17.10
€21.03
+23.0%
8.6%€23.53€18.46n/a14
Feb ’25€18.90
€22.47
+18.9%
7.5%€25.30€19.32n/a14
Jan ’25€19.10
€22.19
+16.2%
8.7%€25.05€18.22n/a14
Dec ’24€18.70
€22.09
+18.1%
10.9%€25.35€18.44n/a13
Nov ’24€17.20
€23.35
+35.7%
10.5%€26.46€18.90€21.2412
Oct ’24€18.70
€26.05
+39.3%
4.5%€28.05€24.31€20.3711
Sep ’24€21.60
€25.33
+17.3%
4.7%€27.28€23.64€19.9510
Aug ’24€21.20
€25.33
+19.5%
4.7%€27.28€23.64€16.8410
Jul ’24€23.60
€25.77
+9.2%
3.3%€27.37€24.63€16.7210
Jun ’24€23.20
€26.51
+14.3%
3.3%€28.07€25.26€17.189

Analyst Forecast: Target price is less than 20% higher than the current share price.

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