Kenvue Inc. stock research
FY2026 Q1
Kenvue (KVUE) Gross Margin — Quarter Ended Mar 29, 2026
Revenue and gross profit both increased compared to the prior quarter and the same quarter last year, while cost of revenue remained stable. Gross margin improved versus the prior quarter and was slightly higher than the year-ago period.
Gross margin takeaway
Quarter ended Mar 29, 2026 · FY2026 Q1
Revenue and gross profit both increased compared to the prior quarter and the same quarter last year, while cost of revenue remained stable. Gross margin improved versus the prior quarter and was slightly higher than the year-ago period.
- The strongest observable margin driver is the increase in gross profit relative to revenue, as cost of revenue did not rise proportionally. This suggests that revenue growth outpaced cost growth, leading to margin expansion.
- Compared to the immediately preceding quarter, gross margin improved, driven by higher revenue and gross profit with cost of revenue unchanged. Versus the same quarter one year earlier, gross margin was slightly higher, as revenue and gross profit grew while cost of revenue remained flat.
Gross margin snapshot
The selected quarter's reported revenue, gross profit, direct costs, and margin comparisons.
Gross margin
58.9%
Gross profit
$2.3B
Revenue
$3.9B
Cost of revenue
$1.6B
Quarter-over-quarter change
+2.4 pts
Year-over-year change
+0.9 pts
Quarterly gross margin trend
A four-quarter view of the revenue and direct-cost bridge behind gross margin.
| Period | Revenue | Gross profit | Cost of revenue | Gross margin |
|---|---|---|---|---|
| Jun 29, 2025 | $3.8B | $2.3B | $1.6B | 58.9% |
| Sep 28, 2025 | $3.8B | $2.2B | $1.5B | 59.1% |
| Dec 28, 2025 | $3.8B | $2.1B | $1.6B | 56.5% |
| Mar 29, 2026 | $3.9B | $2.3B | $1.6B | 58.9% |
Quarterly comparisons
Compare the selected margin with the preceding quarter and the same fiscal quarter one year earlier.
Previous-quarter change
Dec 28, 2025
+2.4 pts
Year-over-year change
Mar 30, 2025
+0.9 pts
What the margin says
Filing-constrained interpretation of margin direction, comparisons, and what to monitor next.
The strongest observable margin driver is the increase in gross profit relative to revenue, as cost of revenue did not rise proportionally. This suggests that revenue growth outpaced cost growth, leading to margin expansion.
Compared to the immediately preceding quarter, gross margin improved, driven by higher revenue and gross profit with cost of revenue unchanged. Versus the same quarter one year earlier, gross margin was slightly higher, as revenue and gross profit grew while cost of revenue remained flat.
Monitor whether cost of revenue remains stable in future quarters, as any increase could pressure gross margin.
Peer context
Latest available gross margins for related public companies.
| Company | Gross margin |
|---|---|
| Kenvue Inc. (KVUE) | 58.9% |