KVUE · 10-Q · 2026Q3 · Full report

Operating Cash Flow Trends

Kenvue Inc. · 2026-10-30 · Importance 52 · Surprise 56 · In source text

Net cash from operating activities increased $534 million, or 39.8%, to $1,877 million for the fiscal nine months ended September 27, 2026, from $1,343 million in the comparable 2025 period. The increase reflected $225 million more net income after adjustments for non-cash items and a $309 million increase in net changes in assets and liabilities. The latter increase was primarily driven by changes in working-capital balances.

Key facts

• Net cash flows from operating activities were $1,877 million for the fiscal nine months ended September 27, 2026 and $1,343 million for the fiscal nine months ended September 28, 2025, an increase of $534 million. source
• The $534 million increase in operating cash flows primarily reflected a $225 million increase in net income after adjusting for non-cash items and a $309 million increase in net changes in assets and liabilities, primarily driven by working capital balances. source
• Net income for the fiscal nine months ended September 27, 2026 was $1,360 million, compared with $1,140 million for the fiscal nine months ended September 28, 2025. source
• Net cash flows used in investing activities were $324 million for the fiscal nine months ended September 27, 2026 and $361 million for the fiscal nine months ended September 28, 2025, a decrease of $37 million; the outflows were primarily driven by purchases of property, plant, and equipment in both periods. source

Impact estimates