|
Corporate Factbook
Kimberly-Clark Corporation
13.04.2018
(KMB)
|
Market cap.: 37.44Billion| Sector: Consumer Goods | Industry: Personal Products
Sales: 18.26Billion | Income: 2.20Billion
1-Year Price Range: 104.58 - 134.29 | 1-Y Performance: -20.0% | YTD Performance: -12.0%
Yield: 3.77% | P/E: 17,16 | Fwd. P/E 14,34 | P/S: 2,05 | P/B: 59,31
Kimberly-Clark Corporation,
together with its subsidiaries, manufactures and markets personal care,
consumer tissue, and professional products worldwide. It operates through three
segments: Personal Care, Consumer Tissue, and K-C Professional. The Personal
Care segment offers disposable diapers, training and youth pants, swimpants,
baby wipes, feminine and incontinence care products, and other related products
under the Huggies, Pull-Ups, Little Swimmers, GoodNites, DryNites, Kotex, U by
Kotex, Intimus, Depend, Plenitud, Poise, and other brand names. The Consumer
Tissue segment provides facial and bathroom tissues, paper towels, napkins, and
related products under the Kleenex, Scott, Cottonelle, Viva, Andrex, Scottex,
Neve, and other brand names. The K-C Professional segment offers wipers,
tissues, towels, apparel, soaps, and sanitizers under the Kleenex, Scott,
WypAll, Kimtech, and Jackson Safety brands. The company sells household use
products directly to supermarkets, mass merchandisers, drugstores, warehouse
clubs, variety and department stores, and other retail outlets, as well as
through other distributors and e-commerce; and away-from-home use products
directly to manufacturing, lodging, office building, food service, and public
facilities, as well as through distributors. Kimberly-Clark Corporation was
founded in 1872 and is headquartered in Dallas, Texas.
Growth
Sales Growth Q/Q
0.80%
|
EPS Growth
Q/Q
9.00%
|
EPS Growth This Year
3.30%
|
EPS Growth Next Year
5.89%
|
EPS Growth Next 5
Years
7.61%
|
Sales Growth Past 5
Years
-2.10%
|
EPS Growth Past 5
Years
8.70%
|
Returns, Margin and Leverage
Return on Assets
15.20%
|
Return on Equity
809.20%
|
Gross Margin
35.90%
|
Return On Investment
30.20%
|
Operating Margin
18.10%
|
Profit Margin
12.50%
|
Debt-to-Equity Ratio
11,9
|
Per Share Data
Price
106,16
|
Analyst Target price
121,21
|
Cash per Share
1,75
|
Book Value Per share
1,79
|
EPS TTM
6,19
|
EPS Next Year
7,4
|
Dividend
Payout
59.40%
|
Valuation
P/E
17,16
|
Forward
P/E
14,34
|
Price to Sales
2,05
|
Price to Book
59,31
|
PEG
2,26
|
Beta
0,68
|
RSI
38,38
|
Latest Earnings Press Release:
•Fourth
quarter 2017 net sales of $4.6 billion increased 1 percent compared to the
year-ago period and full-year 2017 net sales of $18.3 billion rose slightly.
•Diluted
net income per share for the fourth quarter was $1.75 in 2017 and $1.40 in
2016. Full-year diluted net income per share was $6.40 in 2017 and $5.99 in
2016.
•Fourth
quarter adjusted earnings per share were $1.57 in 2017 and $1.45 in 2016.
Adjusted earnings per share exclude certain items described later in this news
release.
•Full-year
adjusted earnings per share were $6.23 in 2017, up 3 percent compared to $6.03
in 2016. The company’s previous guidance was for earnings at the low end of the
$6.20 to $6.35 range.
•The
company has established a cost savings target of more than $1.5 billion over
the 2018 to 2021 time period from its ongoing FORCE (Focused On Reducing Costs
Everywhere) program.
•In
addition, the company announced a new 2018 Global Restructuring Program to
reduce the company’s structural cost base by streamlining and simplifying its
manufacturing supply chain and overhead organization. The restructuring is
expected to generate annual cost savings of $500 to $550 million by the end of
2021 and accelerate the company’s return to delivering its long-term growth
objectives over time.
•Net sales
in 2018 are expected to increase 1 to 2 percent. Diluted net income per share
for 2018 is anticipated to be $3.90 to $4.50, including charges related to the
restructuring. Adjusted earnings per share in 2018 are expected to be $6.90 to
$7.20, a year-on-year increase of approximately 11 to 16 percent.
•The
company’s Board of Directors has approved a 3.1 percent increase in the
quarterly dividend for 2018, which is the 46th consecutive annual increase in
the dividend.
Chairman
and Chief Executive Officer Thomas J. Falk said, “In 2017, we delivered
bottom-line growth in a challenging environment. We also achieved all-time
record FORCE cost savings of $450
10-Year Financials
Growth Profitability and Financial Ratios for
Kimberly-Clark Corp
|
|||||||||
Financials
|
|||||||||
2008-12
|
2009-12
|
2010-12
|
2011-12
|
2012-12
|
2013-12
|
2014-12
|
2015-12
|
2016-12
|
|
Revenue
USD Mil
|
19,415
|
19,115
|
19,746
|
20,846
|
19,467
|
19,561
|
19,724
|
18,591
|
18,202
|
Gross
Margin %
|
30.2
|
33.6
|
33.2
|
29.5
|
31.5
|
33.8
|
33.9
|
35.6
|
36.5
|
Operating
Income USD Mil
|
2,547
|
2,825
|
2,773
|
2,442
|
2,377
|
2,903
|
2,521
|
1,613
|
3,317
|
Operating
Margin %
|
13.1
|
14.8
|
14.0
|
11.7
|
12.2
|
14.8
|
12.8
|
8.7
|
18.2
|
Net
Income USD Mil
|
1,690
|
1,884
|
1,843
|
1,591
|
1,750
|
2,142
|
1,526
|
1,013
|
2,166
|
Earnings
Per Share USD
|
4.04
|
4.52
|
4.45
|
3.99
|
4.42
|
5.53
|
4.04
|
2.77
|
5.99
|
Dividends
USD
|
2.32
|
2.40
|
2.64
|
2.80
|
2.96
|
3.24
|
3.36
|
3.52
|
3.68
|
Payout
Ratio % *
|
57.1
|
53.1
|
59.3
|
66.0
|
66.9
|
65.7
|
58.9
|
207.1
|
66.2
|
Shares
Mil
|
419
|
417
|
414
|
399
|
396
|
387
|
377
|
366
|
361
|
Book Value Per Share * USD
|
9.37
|
12.96
|
14.54
|
13.09
|
12.80
|
12.26
|
11.68
|
0.15
|
0.84
|
Operating Cash Flow USD Mil
|
2,516
|
3,481
|
2,744
|
2,288
|
3,288
|
3,040
|
2,845
|
2,306
|
3,232
|
Cap
Spending USD Mil
|
- 906
|
- 848
|
- 964
|
- 968
|
- 1,093
|
- 953
|
- 1,039
|
- 1,056
|
- 771
|
Free Cash Flow USD Mil
|
1,610
|
2,633
|
1,780
|
1,320
|
2,195
|
2,087
|
1,806
|
1,250
|
2,461
|
Free Cash Flow Per Share * USD
|
3.85
|
6.32
|
4.30
|
4.26
|
5.54
|
5.62
|
5.82
|
3.05
|
6.02
|
Working
Capital USD Mil
|
1,061
|
941
|
990
|
886
|
498
|
702
|
- 667
|
- 923
|
- 731
|
Key
Ratios -> Profitability
|
|||||||||
Margins
% of Sales
|
2008-12
|
2009-12
|
2010-12
|
2011-12
|
2012-12
|
2013-12
|
2014-12
|
2015-12
|
2016-12
|
Revenue
|
100
|
100
|
100
|
100
|
100
|
100
|
100
|
100
|
100
|
COGS
|
69.83
|
66.41
|
66.83
|
70.49
|
68.52
|
66.21
|
66.12
|
64.37
|
63.46
|
Gross
Margin
|
30.17
|
33.59
|
33.17
|
29.51
|
31.48
|
33.79
|
33.88
|
35.63
|
36.54
|
SG&A
|
16.95
|
18.3
|
18.6
|
18.04
|
19.3
|
18.91
|
18.8
|
18.52
|
18.27
|
R&D
|
|||||||||
Other
|
0.1
|
0.51
|
0.53
|
-0.24
|
-0.03
|
0.04
|
2.3
|
8.43
|
0.04
|
Operating
Margin
|
13.12
|
14.78
|
14.04
|
11.71
|
12.21
|
14.84
|
12.78
|
8.68
|
18.22
|
Net
Int Inc & Other
|
-1.33
|
-1.3
|
-1.13
|
-1.24
|
-1.37
|
-1.34
|
-1.35
|
-1.5
|
-1.69
|
EBT
Margin
|
11.79
|
13.48
|
12.91
|
10.47
|
10.84
|
13.5
|
11.43
|
7.18
|
16.53
|
Profitability
|
2008-12
|
2009-12
|
2010-12
|
2011-12
|
2012-12
|
2013-12
|
2014-12
|
2015-12
|
2016-12
|
Tax
Rate %
|
27
|
28.96
|
30.9
|
30.23
|
31.74
|
31.55
|
37.96
|
31.31
|
30.64
|
Net
Margin %
|
8.7
|
9.86
|
9.33
|
7.63
|
8.31
|
10.13
|
7.74
|
5.45
|
11.9
|
Asset
Turnover (Average)
|
1.06
|
1.02
|
1.01
|
1.06
|
1.07
|
1.09
|
1.15
|
1.22
|
1.24
|
Return
on Assets %
|
9.25
|
10.1
|
9.43
|
8.11
|
8.92
|
11.04
|
8.86
|
6.67
|
14.71
|
Financial
Leverage (Average)
|
4.66
|
3.55
|
3.36
|
3.69
|
3.99
|
3.89
|
21.3
|
0
|
0
|
Return
on Equity %
|
37.14
|
40.59
|
32.55
|
28.5
|
34.2
|
43.53
|
54.65
|
365.05
|
0
|
Return
on Invested Capital %
|
16.44
|
19.96
|
18
|
15.57
|
17.13
|
21.32
|
18.48
|
15.75
|
0
|
Interest
Coverage
|
0
|
10.37
|
11.49
|
8.88
|
9.52
|
11.41
|
8.94
|
5.53
|
10.43
|
Key
Ratios -> Growth
|
|||||||||
2008-12
|
2009-12
|
2010-12
|
2011-12
|
2012-12
|
2013-12
|
2014-12
|
2015-12
|
2016-12
|
|
Revenue
%
|
|||||||||
Year
over Year
|
6.29
|
-1.55
|
3.3
|
5.57
|
1.04
|
0.42
|
-6.75
|
-5.74
|
-2.09
|
3-Year
Average
|
6.88
|
4.51
|
2.63
|
2.4
|
3.29
|
2.32
|
-1.83
|
-4.08
|
-4.88
|
5-Year
Average
|
6.24
|
4.85
|
4.42
|
4.48
|
2.89
|
1.73
|
0.63
|
-1.2
|
-2.68
|
10-Year
Average
|
4.67
|
3.93
|
3.51
|
3.68
|
4.5
|
3.96
|
2.72
|
1.57
|
0.84
|
Operating
Income %
|
|||||||||
Year
over Year
|
-2.65
|
10.91
|
-1.84
|
-11.94
|
9.99
|
19.43
|
-21.42
|
-36.02
|
105.64
|
3-Year
Average
|
3.3
|
10.36
|
1.96
|
-1.39
|
-1.67
|
4.98
|
1.07
|
-15.63
|
1.12
|
5-Year
Average
|
1.09
|
2.42
|
3.72
|
3.05
|
0.53
|
4.72
|
-2.25
|
-10.27
|
6.32
|
10-Year
Average
|
3.66
|
2.4
|
0.92
|
0.44
|
0.87
|
2.89
|
0.06
|
-3.53
|
4.67
|
Net
Income %
|
|||||||||
Year
over Year
|
-7.29
|
11.48
|
-2.18
|
-13.67
|
9.99
|
22.4
|
-28.76
|
-33.62
|
113.82
|
3-Year
Average
|
2.52
|
7.91
|
0.37
|
-1.99
|
-2.43
|
5.14
|
-1.38
|
-16.66
|
0.37
|
5-Year
Average
|
-0.05
|
0.91
|
3.28
|
1.19
|
-0.81
|
4.85
|
-4.13
|
-11.28
|
6.36
|
10-Year
Average
|
3.78
|
1.22
|
0.23
|
-0.12
|
0.44
|
2.37
|
-1.64
|
-4.28
|
3.75
|
EPS
%
|
|||||||||
Year
over Year
|
-1.22
|
11.88
|
-1.55
|
-10.34
|
10.78
|
25.11
|
-26.94
|
-31.44
|
116.25
|
3-Year
Average
|
7.19
|
11.62
|
2.85
|
-0.41
|
-0.74
|
7.51
|
0.42
|
-14.42
|
2.7
|
5-Year
Average
|
3.94
|
4.6
|
6.29
|
4.19
|
1.56
|
6.48
|
-2.22
|
-9.05
|
8.47
|
10-Year
Average
|
6.71
|
3.88
|
3
|
2.82
|
3.22
|
5.2
|
1.13
|
-1.68
|
6.31
|
Key
Ratios -> Cash Flow
|
|||||||||
Cash
Flow Ratios
|
2008-12
|
2009-12
|
2010-12
|
2011-12
|
2012-12
|
2013-12
|
2014-12
|
2015-12
|
2016-12
|
Operating Cash Flow Growth % YOY
|
3.59
|
38.35
|
-21.17
|
-16.62
|
43.71
|
-7.54
|
-6.41
|
-18.95
|
40.16
|
Free Cash Flow Growth % YOY
|
11.84
|
63.54
|
-32.4
|
-25.84
|
66.29
|
-4.92
|
-13.46
|
-30.79
|
96.88
|
Cap Ex as a % of Sales
|
4.67
|
4.44
|
4.88
|
4.64
|
5.61
|
4.87
|
5.27
|
5.68
|
4.24
|
Free
Cash Flow/Sales %
|
8.29
|
13.77
|
9.01
|
6.33
|
11.28
|
10.67
|
9.16
|
6.72
|
13.52
|
Free Cash Flow/Net Income
|
0.95
|
1.4
|
0.97
|
0.83
|
1.25
|
0.97
|
1.18
|
1.23
|
1.14
|
Key Ratios -> Financial
Health
|
|||||||||
Balance Sheet Items (in %)
|
2008-12
|
2009-12
|
2010-12
|
2011-12
|
2012-12
|
2013-12
|
2014-12
|
2015-12
|
2016-12
|
Cash & Short-Term
Investments
|
2.01
|
5.14
|
4.41
|
3.94
|
5.57
|
5.57
|
5.08
|
4.17
|
6.32
|
Accounts Receivable
|
13.78
|
13.36
|
13.54
|
13.43
|
13.29
|
13.45
|
14.32
|
15.37
|
14.9
|
Inventory
|
13.78
|
10.58
|
11.95
|
12.16
|
11.82
|
11.8
|
12.19
|
12.86
|
11.5
|
Other Current Assets
|
2.57
|
1.45
|
1.96
|
2.9
|
2.48
|
3.8
|
4.22
|
4.16
|
2.31
|
Total Current Assets
|
32.14
|
30.53
|
31.86
|
32.43
|
33.16
|
34.62
|
35.8
|
36.56
|
35.03
|
Net PP&E
|
42.38
|
41.82
|
42.07
|
41.55
|
40.73
|
42.01
|
47.4
|
47.86
|
49.1
|
Intangibles
|
15.16
|
17.05
|
18.58
|
18.61
|
15.43
|
15.21
|
9.71
|
8.92
|
9.25
|
Other Long-Term Assets
|
10.32
|
10.6
|
7.5
|
7.41
|
8.08
|
5.27
|
5.61
|
5.2
|
5.17
|
Total Assets
|
100
|
100
|
100
|
100
|
100
|
100
|
100
|
100
|
100
|
Accounts Payable
|
36.67
|
10.15
|
11.27
|
12.51
|
12.48
|
13.94
|
17.15
|
17.86
|
18.14
|
Short-Term Debt
|
27.93
|
3.22
|
1.76
|
3.7
|
5.7
|
2.01
|
8.69
|
11.41
|
7.88
|
Taxes Payable
|
0
|
0.42
|
0.53
|
1.39
|
1.72
|
1.8
|
2.16
|
2.25
|
1.8
|
Accrued Liabilities
|
45.26
|
10.91
|
9.75
|
7.23
|
9.75
|
9.25
|
10.04
|
9.47
|
10.23
|
Other Short-Term
Liabilities
|
12.69
|
1.32
|
3.96
|
3.44
|
1.48
|
4.37
|
2.77
|
2.42
|
2.59
|
Total Current Liabilities
|
122.54
|
26.01
|
27.26
|
28.27
|
31.12
|
31.38
|
40.81
|
43.4
|
40.65
|
Long-Term Debt
|
125.89
|
25.32
|
26.15
|
28.42
|
25.91
|
28.9
|
36.9
|
41.74
|
44.77
|
Other Long-Term Liabilities
|
-125.89
|
20.1
|
16.36
|
15.82
|
17.5
|
13.66
|
17.51
|
16.04
|
15.3
|
Total Liabilities
|
0
|
71.43
|
69.78
|
72.51
|
74.53
|
73.94
|
95.22
|
101.19
|
100.71
|
Total Stockholders' Equity
|
100
|
28.57
|
30.22
|
27.49
|
25.47
|
26.06
|
4.78
|
-1.19
|
-0.71
|
Total Liabilities &
Equity
|
100
|
100
|
100
|
100
|
100
|
100
|
100
|
100
|
100
|
Liquidity/Financial
Health
|
2008-12
|
2009-12
|
2010-12
|
2011-12
|
2012-12
|
2013-12
|
2014-12
|
2015-12
|
2016-12
|
Current
Ratio
|
1.22
|
1.19
|
1.19
|
1.16
|
1.08
|
1.12
|
0.89
|
0.85
|
0.88
|
Quick
Ratio
|
0.6
|
0.72
|
0.67
|
0.62
|
0.62
|
0.62
|
0.48
|
0.46
|
0.53
|
Financial
Leverage
|
4.66
|
3.55
|
3.36
|
3.69
|
3.99
|
3.89
|
21.3
|
0
|
0
|
Debt/Equity
|
1.26
|
0.89
|
0.87
|
1.03
|
1.02
|
1.11
|
7.72
|
0
|
0
|
Key
Ratios -> Efficiency Ratios
|
|||||||||
Efficiency
|
2008-12
|
2009-12
|
2010-12
|
2011-12
|
2012-12
|
2013-12
|
2014-12
|
2015-12
|
2016-12
|
Days
Sales Outstanding
|
47.49
|
48.29
|
46.56
|
44.42
|
42.87
|
40.47
|
40.93
|
40.21
|
41.05
|
Days
Inventory
|
66.46
|
65.06
|
60.93
|
58.73
|
59.97
|
60.09
|
57.73
|
57.97
|
56.69
|
Payables
Period
|
38.65
|
48.04
|
57.06
|
57.06
|
61.59
|
66.13
|
72.97
|
79.73
|
82.49
|
Cash
Conversion Cycle
|
75.3
|
65.31
|
50.44
|
46.1
|
41.25
|
34.44
|
25.69
|
18.45
|
15.25
|
Receivables
Turnover
|
7.69
|
7.56
|
7.84
|
8.22
|
8.51
|
9.02
|
8.92
|
9.08
|
8.89
|
Inventory
Turnover
|
5.49
|
5.61
|
5.99
|
6.21
|
6.09
|
6.07
|
6.32
|
6.3
|
6.44
|
Fixed
Assets Turnover
|
2.46
|
2.44
|
2.41
|
2.54
|
2.61
|
2.64
|
2.58
|
2.57
|
2.55
|
Asset
Turnover
|
1.06
|
1.02
|
1.01
|
1.06
|
1.07
|
1.09
|
1.15
|
1.22
|
1.24
|