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Kimberly Clark (KMB) FY2024 results: revenue $16.8 billion, down 2.0% on the year

Kimberly Clark Corp. (KMB) reported revenue of $16.8 billion for fiscal 2024, the year ended 31 December 2024, down 2.0% on the year before. Net income was $2.5 billion, up 44.3%, and diluted earnings per share $7.55. The figures are the company's own, from the 10-K it filed with the SEC on 13 February 2025.

Revenue
$16.8 billion
-2.0% on the year
FY2017FY2024
Operating margin
16.1%
11.2% a year earlier
FY2017FY2024
Net income
$2.5 billion
+44.3% on the year
FY2017FY2024
Diluted EPS
$7.55
+44.9% on the year
FY2017FY2024

this yearthe year beforeHover a bar for its figure.

The year in brief

The four quarters: Q1 FY2024 · Q2 FY2024 · Q3 FY2024 · Q4 FY2024

Income statement (profit and loss)

$ millionFY2024FY2023FY2022On the yearLast 8 years
Revenue16,80517,14616,952-2.0%
Cost of revenue10,51610,87711,428-3.3%
Gross profit6,2896,2695,524+0.3%
Gross margin37.4%36.6%32.6%
Research and development328303285+8.3%
Operating income2,7001,9282,309+40.0%
Operating margin16.1%11.2%13.6%
Interest expense270293282-7.8%
Pre-tax income2,4181,6061,968+50.6%
Income tax442343405+28.9%
Effective tax rate18.3%21.4%20.6%
Net income2,5451,7641,934+44.3%
Net margin15.1%10.3%11.4%
Diluted EPS$7.55$5.21$5.72+44.9%
$ million except per share.
Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.

Cash flow

$ millionFY2024FY2023FY2022On the yearLast 8 years
Operating cash flow3,2343,5422,733-8.7%
Capital expenditure721766876-5.9%
Free cash flow2,5132,7761,857-9.5%
Free cash flow margin15.0%16.2%11.0%
Cash from investing-100-418-785
Cash from financing-3,166-2,374-1,760
Depreciation and amortisation781753754+3.7%
Share-based compensation131169150-22.5%
Buybacks1,000225100+344.4%
Dividends paid1,6281,5881,558+2.5%
Dividend per share$4.88$4.72$4.64+3.4%
Diluted shares, weighted337m339m338m-0.5%
Shares outstanding at period end332m337m338m-1.5%

Balance sheet

$ millionFY2024FY2023FY2022On the yearLast 8 years
Shareholders' equity840915547-8.2%
Non-controlling interest135153153-11.8%
Debt7,4187,9848,422-7.1%
Operating lease liabilities265293n/a-9.6%
Finance lease liabilities32.026.0n/a+23.1%
Other liabilities7,8567,9738,848-1.5%
Total liabilities and equity16,54617,34417,970-4.6%
Fixed assets6,2846,6057,885-4.9%
Goodwill1,7961,8941,880-5.2%
Intangible assets80.0188851-57.4%
Cash and equivalents1,0101,075427-6.0%
Receivables1,7281,8362,280-5.9%
Inventory1,4521,5492,269-6.3%
Other assets4,1964,1972,378-0.0%
Total assets16,54617,34417,970-4.6%

10-K for the year ended 31 December 2024, filed 13 February 2025: the filing.