# 켄뷰 (KVUE)
> 타이레놀, 리스테린, 뉴트로지나 등 일반의약품과 구강·피부·생활건강 제품을 대형 유통사와 약국, 전자상거래 채널에 판매한다. 자체 공장과 외부 위탁생산을 함께 쓰며 원재료·포장재, 전환 제조, 클라우드 인프라에 비용을 지출한다.
Canonical: https://valuechain.wiki/kenvue · Updated: 2026-09-23T08:23:27.7108+00:00 · Source: ValueChain.wiki (refined facts, cited)
**사업 분류**: 브랜드 소비재 (소비 브랜드·유통 · 대표)

**인용용 요약**: 밸류체인 그래프 기준 켄뷰의 직접 연결 기업은 5곳(관계 기준 공급 2·매출 2·투자 1)이고, 사슬을 2차까지 넓히면 40곳에 닿는다. 링크의 근거 출처는 7건이며 그중 1차공시가 2건이다 (valuechain.wiki, 2026-09-23 기준).

## Financials & segments
- 총매출: FY2025 순매출 151억2,400만달러
- 사업부문: 셀프케어, 피부건강·뷰티, 에센셜 헬스

## Annual stock return (as of 2026-09-04)
- 2024: +3.1%
- 2025: -15.9%
- 2026 YTD: +12.4%

## Value-chain annual returns (top→bottom: demand → node → supply; YTD as of 2026-09-04)
| Company | Chain | 2021 | 2022 | 2023 | 2024 | 2025 | YTD |
| --- | --- | --- | --- | --- | --- | --- | --- |
| 유나이티드헬스 그룹 | lead2 | +45.2% | +6.9% | +0.8% | -2.4% | -33.1% | +21.9% |
| Costco Wholesale | lead1 | +51.8% | -19% | +49% | +39.6% | -5.4% | +10.3% |
| Walmart Inc | lead1 | +2% | -0.5% | +12.9% | +74% | +24.5% | +0.6% |
| 켄뷰 | node | · | · | · | +3.1% | -15.9% | +12.4% |
| 존슨앤드존슨 | benef1 | +11.4% | +6% | -8.6% | -4.8% | +47.5% | +35.1% |
| 킴벌리클라크 | benef1 | +9.7% | -1.6% | -7.1% | +11.8% | -19.9% | +6.8% |
| 마이크로소프트 | benef1 | +52.5% | -28% | +58.2% | +12.9% | +15.6% | +4% |
| Seagate | benef2 | +87.5% | -51.4% | +69.1% | +4.1% | +225.3% | +209.1% |
| AMD | benef2 | +56.9% | -55% | +127.6% | -18.1% | +77.3% | +183.9% |
| Marvell | benef2 | +84.6% | -57.5% | +63.7% | +83.8% | -22.8% | +163.4% |
| Intel | benef2 | +6.1% | -46.6% | +94.6% | -59.6% | +84% | +159.6% |
| Western Digital | benef2 | +17.7% | -51.6% | +66% | +13.9% | +283.7% | +130.9% |
| Astera Labs | benef2 | · | · | · | · | +25.6% | +105.7% |
| Wiwynn | benef2 | +24.7% | -22.3% | +206.4% | +3.5% | +64.4% | +92.3% |
| Vertiv | benef2 | +33.8% | -45.3% | +251.8% | +136.8% | +42.8% | +73.2% |
| GE Vernova | benef2 | · | · | · | · | +99% | +54% |
| 옥시덴탈 페트롤리엄 | benef2 | +67.7% | +119.1% | -4.1% | -15.9% | -14.9% | +48.2% |
| Arista Networks | benef2 | +97.9% | -15.6% | +94.1% | +87.7% | +18.5% | +47.9% |
| Super Micro | benef2 | +38.8% | +86.8% | +246.2% | +7.2% | -4% | +43% |
| Caterpillar | benef2 | +16% | +18.6% | +25.9% | +24.7% | +60.3% | +40.6% |
| Ciena | benef2 | +45.6% | -33.8% | -11.7% | +88.4% | +175.8% | +37.3% |
| Equinix | benef2 | +20.3% | -21.1% | +25.4% | +19.5% | -16.9% | +37.3% |
| Eaton | benef2 | +46.7% | -7.2% | +56.2% | +39.5% | -2.8% | +36% |
| NVIDIA | benef2 | +125.5% | -50.3% | +239% | +171.2% | +38.9% | +23.2% |
| Quanta | benef2 | +22.2% | -12.8% | +254.5% | +12.7% | +8.9% | +21.2% |
| 크레도 | benef2 | · | · | +46.3% | +245.2% | +114.1% | +18.5% |
| IREN | benef2 | · | -92.3% | +472% | +37.3% | +284.6% | +18.3% |
| Foxconn | benef2 | -5.1% | +2.8% | +7.8% | +80.1% | +26.9% | +16.3% |
| Schneider Electric | benef2 | +25.9% | +1.6% | +25.8% | +36.1% | +0.5% | +11.7% |
| Cummins | benef2 | -1.7% | +14.1% | +1.7% | +48.9% | +49.4% | +11% |
| 오토매틱 데이터 프로세싱 | benef2 | +42.6% | -1.3% | -0.2% | +28.4% | -10.2% | +9.6% |
| 3M | benef2 | +4.9% | -29.6% | -3.3% | +46.1% | +26.4% | +6.8% |
| 익스피디아 그룹 | benef2 | +36.5% | -51.5% | +73.3% | +22.8% | +53.3% | +5.8% |
| WEC 에너지 그룹 | benef2 | +8.7% | -0.5% | -7% | +16.1% | +16% | +3.1% |
| 인터내셔널 페이퍼 | benef2 | +3.5% | -23% | +10.2% | +55.3% | -23.8% | -2% |
| Brookfield | benef2 | · | · | +45.6% | +39.7% | -0.2% | -9.7% |
| IonQ | benef2 | · | -79.3% | +259.1% | +237.1% | +7.4% | -11.9% |
| Constellation Energy | benef2 | · | · | +37.2% | +92.7% | +58.8% | -15.3% |
| 테이크투 인터랙티브 | benef2 | -14.5% | -41.4% | +54.6% | +14.4% | +39.1% | -16.6% |
| 유한양행 | benef2 | -9% | -2.3% | +19.7% | +119.9% | -16.7% | -24.2% |
| 리가켐바이오 | benef2 | -26.2% | -18.1% | +37.1% | +151% | +60.5% | -63.9% |
| AT&S | benef3 | +57.5% | -22% | -27.6% | -41.3% | +188.9% | +464.3% |
| 삼성전기 | benef3 | -11.8% | -18.5% | -1.4% | -2.5% | +110% | +402.2% |
| Dell | benef3 | +51.2% | -26.6% | +95.9% | +53% | +11.2% | +320.2% |
| 난야PCB | benef3 | +110.6% | -46.7% | -0.5% | -38.3% | +188.2% | +280.5% |
| Micron Technology | benef3 | +24.2% | -45.9% | +71.9% | -1% | +240.2% | +256.4% |
| 유니마이크론 | benef3 | +133.5% | -30.2% | +35.2% | -19.7% | +175.7% | +236.2% |
| ASE테크놀로지 | benef3 | +38.3% | -12.8% | +60.9% | +10.1% | +65.6% | +191.3% |
| Bloom Energy | benef3 | -23.5% | -12.8% | -22.6% | +50.1% | +291.2% | +191% |
| 심텍 | benef3 | +119.6% | -34.6% | +12.4% | -63.3% | +392.9% | +185.6% |
| Nebius | benef3 | · | · | · | · | +202.2% | +170.5% |
| 미디어텍 | benef3 | +27.8% | -26.6% | +52.9% | +58.3% | +24.9% | +168.1% |
| 키옥시아 | benef3 | · | · | · | · | +1082.1% | +155% |
| Ibiden | benef3 | +30.4% | -19.6% | +51.6% | -38.6% | +261% | +149.3% |
| Arm Holdings | benef3 | · | · | · | +64.2% | -11.4% | +143.6% |
| Lumentum | benef3 | +11.6% | -50.7% | +0.5% | +60.1% | +339.1% | +139.1% |
| LG이노텍 | benef3 | +78.2% | -22% | -28.8% | -22.1% | +66.8% | +134.8% |
| Murata | benef3 | -14% | -11.7% | +24.7% | -16.5% | +29.9% | +131.5% |
| 섬코 | benef3 | -4.3% | -3.9% | +21.3% | -48.1% | +41.7% | +112.8% |
| 피에스케이 | benef3 | +22.7% | -19.6% | +14.2% | -2.6% | +228.2% | +105.7% |
| GlobalWafers | benef3 | +26.9% | -29.9% | +14.3% | -39% | +48.9% | +98.1% |
| 어플라이드 머티어리얼즈 | benef3 | +83.6% | -37.5% | +68% | +1.1% | +59.6% | +98% |
| SK하이닉스 | benef3 | -0.4% | -25.6% | +53.9% | +48.6% | +361.1% | +85.3% |
| Teradyne | benef3 | +36.8% | -46.3% | +24.8% | +16.5% | +54.4% | +84.6% |
| Corning | benef3 | +5.9% | -11.6% | -1.2% | +60.6% | +87.8% | +77.2% |
| Coherent | benef3 | -10% | -48.6% | +24% | +117.6% | +94.8% | +69.4% |
| Entegris | benef3 | +44.6% | -52.5% | +83.5% | -17.1% | -14.6% | +65.1% |
| 삼성전자 | benef3 | -9% | -14.2% | +20.9% | -26.4% | +212.9% | +63.8% |
| Delta Electronics | benef3 | -3.4% | +10.4% | -0.3% | +59.2% | +183.8% | +61.9% |
| ASML | benef3 | +64.1% | -30.5% | +39.9% | -7.7% | +55.8% | +61.1% |
| Keysight | benef3 | +56.3% | -17.2% | -7% | +1% | +26.5% | +61% |
| 도쿄일렉트론 | benef3 | +40.4% | -14.5% | +89.8% | -4.4% | +61.6% | +57.4% |
| 뉴코 | benef3 | +118.4% | +17.4% | +33.8% | -32% | +42% | +54.7% |
| Monolithic Power | benef3 | +35.5% | -27.8% | +79.8% | -5.6% | +54.5% | +53.7% |
| KLA | benef3 | +68% | -11.2% | +56% | +9.4% | +94.5% | +53.3% |
| Analog Devices | benef3 | +21% | -4.9% | +23.4% | +8.8% | +29.8% | +51.1% |
| TSMC | benef3 | +12.1% | -36.7% | +42.3% | +92.6% | +55.9% | +50.3% |
| 위스트론 | benef3 | +7.9% | +9.7% | +272.7% | -1.6% | +22.7% | +49.7% |
| Sumitomo Electric | benef3 | +11.4% | +6.3% | +30.8% | +52.9% | +139% | +43.2% |
| HPSP | benef3 | · | · | +216.5% | -30.4% | +54.7% | +38.9% |
| Arteris | benef3 | · | -79.6% | +37% | +73% | +52.1% | +37.9% |
| onsemi | benef3 | +107.5% | -8.2% | +33.9% | -24.5% | -14.1% | +37.4% |
| 페가트론 | benef3 | -5.9% | +0.6% | +35.3% | +21.2% | -23.8% | +34.5% |
| SCREEN Holdings | benef3 | +40.7% | -13.2% | +220.1% | -24.1% | +84.9% | +33.7% |
| 유나이티드 렌탈스 | benef3 | +43.3% | +7% | +63.6% | +24% | +15.9% | +31.3% |
| Advantest | benef3 | +17% | -2.3% | +155.7% | +49.5% | +196% | +29.9% |
| Amphenol | benef3 | +34.9% | -12% | +31.5% | +41.3% | +96.1% | +29.8% |
| 글로벌파운드리 | benef3 | · | -17.1% | +12.5% | -29.2% | -18.6% | +29.7% |
| Eoptolink | benef3 | -10.1% | -27.7% | +136.6% | +197% | +368.8% | +29.1% |
| Tokyo Ohka Kogyo | benef3 | -2.7% | -3% | +63.8% | +4.3% | +111.5% | +28.7% |
| InnoLight | benef3 | -30.7% | -18.3% | +253.7% | +12% | +468.1% | +25.6% |
| ASM International | benef3 | +44.2% | +2.9% | +68.7% | +10.3% | +25.9% | +25% |
| Digital Realty | benef3 | +30.7% | -41% | +39.9% | +35.9% | -10.1% | +23.4% |
| ABB | benef3 | +23.9% | +7.3% | +18.9% | +39% | +36.1% | +18.4% |
| Apple | benef3 | +34.6% | -26.4% | +49% | +30.7% | +9.1% | +18% |
| Linde | benef3 | +33.4% | -4.4% | +27.7% | +3.2% | +3.2% | +14.6% |
| CoreWeave | benef3 | · | · | · | · | · | +14.6% |
| 신에쓰화학 | benef3 | +6.3% | +3.1% | +57.8% | -15.6% | +7.6% | +13.8% |
| Cadence Design Systems | benef3 | +36.6% | -13.8% | +69.6% | +10.3% | +4% | +12.9% |
| Merck KGaA | benef3 | +42.2% | -0.4% | -19.1% | -2.5% | -12.7% | +12% |
| 아마존 | benef3 | +2.4% | -49.6% | +80.9% | +44.4% | +5.2% | +12% |
| 오리온 | benef3 | -18.4% | +29% | -25.5% | +10.6% | +18.7% | +11.9% |
| 처브 | benef3 | +27.8% | +16% | +4.2% | +23.9% | +13.7% | +10.3% |
| BESI | benef3 | +33.7% | -6.1% | +121.8% | -9.3% | +35% | +9.8% |
| Synopsys | benef3 | +42.1% | -13.4% | +61.3% | -5.7% | -3.2% | +8.6% |
| KYEC | benef3 | +26.7% | -7.7% | +132.4% | +38.6% | +171% | +8.4% |
| 알파벳 (구글) | benef3 | +65.3% | -39.1% | +58.3% | +36% | +66% | +8.3% |
| Recursion Pharmaceuticals | benef3 | · | -55% | +27.9% | -31.4% | -39.5% | +6.6% |
| NextEra Energy | benef3 | +23.4% | -8.5% | -25.3% | +21.5% | +15.5% | +6.2% |
| 르그랑 | benef3 | +20.3% | -7.1% | +12.8% | +11.9% | +39.3% | +6.1% |
| 듀크 에너지 | benef3 | +19.1% | +2% | -1.6% | +15.6% | +12.7% | +5.3% |
| Broadcom | benef3 | +56.5% | -13.3% | +104.2% | +110.5% | +50.6% | +5% |
| 퍼스트에너지 | benef3 | +41.8% | +4.8% | -8.9% | +13.2% | +17.3% | +3.5% |
| BlackRock | benef3 | +29.4% | -20.4% | +17.9% | +29.3% | +6.6% | +2.8% |
| 니콘 | benef3 | +46.2% | +10.9% | +23.1% | +13.7% | +19.7% | -2.4% |
| 호야 | benef3 | +10.8% | -3% | +34.4% | +11.3% | +24.9% | -2.5% |
| TE Connectivity | benef3 | +35.1% | -27.7% | +24.6% | +3.5% | +61.1% | -3% |
| Cameco | benef3 | +63.2% | +4.3% | +90.5% | +19.5% | +78.4% | -3.7% |
| FANUC | benef3 | -16.5% | +4.4% | -8.1% | +15.6% | +37.7% | -4.5% |
| Luxshare | benef3 | -11.9% | -30.2% | -21.2% | +58.8% | +29.3% | -7.4% |
| Lasertec | benef3 | +78.9% | +2.4% | +57% | -60.6% | +138.9% | -8.5% |
| 워크데이 | benef3 | +14% | -38.7% | +65% | -6.5% | -16.8% | -8.8% |
| Photronics | benef3 | +68.9% | -10.7% | +86.4% | -24.9% | +35.8% | -9% |
| Fabrinet | benef3 | +52.7% | +8.2% | +48.4% | +15.5% | +107.1% | -10.5% |
| Phison | benef3 | +26.8% | -10.7% | +45.1% | -6.7% | +418.3% | -12.8% |
| 세일즈포스 | benef3 | +14.2% | -47.8% | +98.5% | +27.8% | -20.2% | -12.9% |
| Mobileye | benef3 | · | · | +23.6% | -54% | -47.6% | -18% |
| 카니발 | benef3 | -7.1% | -59.9% | +130% | +34.4% | +22.6% | -21.8% |
| BYD일렉트로닉스 | benef3 | -56.1% | +16% | -0.4% | +60.6% | -19.4% | -24.1% |
| 삼성바이오로직스 | benef3 | -6.8% | +8.6% | +5.8% | +28.7% | +5% | -30.1% |
| Rigetti Computing | benef3 | · | -92.9% | +35.1% | +1449.2% | +45.2% | -31.4% |
| 오스코텍 | benef3 | -17% | -38.1% | -0.3% | +39.8% | +108.2% | -32.2% |
| UBTech | benef3 | · | · | · | -21.6% | +95.4% | -38.8% |
| Oklo | benef3 | · | +0.7% | +6.5% | +101% | +238% | -42.5% |
| D-Wave Quantum | benef3 | · | -85.3% | -38.9% | +854.5% | +211.3% | -44.3% |

소비자 건강 브랜드사 기업. 2026년 +12.4%다. 수요단(평균 +1.8%)·본주(+12.4%)·공급단(평균 +19.6%)이 비슷한 보폭이다. 전파가 한 바퀴 돈 동조 국면이라, 다음 구간은 사슬 방향보다 개별 실적이 가른다. 연결 노드 중 가장 앞선 곳은 존슨앤드존슨(+35.1%), 가장 처진 곳은 월마트(-3.2%)다. 격차가 사슬 논리로 설명되면 후자가 다음 전파 후보이고, 설명되지 않으면 그 연결 자체를 다시 봐야 한다. (analysis as of 2026-09-04)

## Money in · revenue from (2)
### Walmart Inc (high)  → /walmart.md
- note: 켄뷰가 북미 상위 5대 고객군에 포함한다고 직접 밝힌 대형 소매 고객이다. 고객별 매출액은 공개되지 않았지만, 리테일 미디어 지출 분석에서도 Walmart가 켄뷰의 중심 유통 파트너임이 확인된다.
- [confirms] 센서타워 (EN, research, published 2025-11-25) https://investgame.net/wp-content/uploads/2025/11/amazon_retail_media_report_1h_2025_v1_8625.pdf: "켄뷰의 리테일 미디어 지출 구성은 Walmart 68%, Amazon 6%, Target 3%였다."
- [confirms] 미국 증권거래위원회 (EN, filing, published 2023-09-18) https://www.sec.gov/Archives/edgar/data/1944048/000162828023032464/kenvues-4debtexchange424b3.htm: "켄뷰는 Walmart를 북미 상위 5대 고객에 포함했다."

### Costco Wholesale (high)  → /costco.md
- note: 켄뷰가 북미 상위 5대 고객군의 도매·창고형 유통 고객으로 직접 지목한 상대다. Costco에 귀속되는 매출액이나 비중은 별도로 공개되지 않았다.
- [confirms] 미국 증권거래위원회 (EN, filing, published 2023-09-18) https://www.sec.gov/Archives/edgar/data/1944048/000162828023032464/kenvues-4debtexchange424b3.htm: "북미 상위 고객에는 Costco 같은 도매·창고형 고객이 포함된다."

## Money out · pays to (3)
### 존슨앤드존슨 (high)  → /johnson-johnson.md
- note: 분사 후 전환 제조 계약에 따라 존슨앤드존슨이 타이레놀, 모트린, 지르텍 등 일부 일반의약품과 부품을 켄뷰에 공급한다. 계약별 지급액은 공개되지 않았다.
- [confirms] 미국 증권거래위원회 (EN, filing, published 2026-02-20) https://www.sec.gov/Archives/edgar/data/1944048/000194404826000030/kvue-20251228.htm: "존슨앤드존슨은 전환 제조 계약에 따라 켄뷰에 일부 제조 서비스를 제공한다."

### 마이크로소프트 (high)  → /microsoft.md
- note: 켄뷰는 5년 협업을 통해 Microsoft Azure 사용을 확대하고 데이터 분석과 인공지능 기능을 상업·운영·공급망 업무에 적용한다. 계약 금액은 공개되지 않았다.
- [confirms] 켄뷰 투자자관계 (EN, ir, published 2025-04-16) https://investors.kenvue.com/financial-news/news-details/2025/Kenvue-Announces-5-Year-Collaboration-with-Microsoft-to-Transform-Digital-Operations/default.aspx: "켄뷰는 향후 5년간 Microsoft Azure 사용을 확대할 계획이다."

### J.B. Chemicals & Pharmaceuticals (mid)
- note: J.B. Chemicals & Pharmaceuticals는 켄뷰의 위탁개발생산 파트너로 러시아 사업을 지원하고 유럽용 Zarbee's 로젠지를 생산한다고 밝혔다. 켄뷰의 지급액은 공개되지 않았다.
- [confirms] J.B. Chemicals & Pharmaceuticals (EN, ir, published 2025-02-10) https://jbpharma.com/download/q3-fy25-earnings-call-transcript/?wpdmdl=10232: "회사는 켄뷰를 위해 로젠지를 제조한다고 밝혔다."

## Investors (1)
### 킴벌리클라크 (high)  → /kimberly-clark.md
- metric: 계약금액 $48.7B · Proposed transaction announced 2025-11-03 · 켄뷰 인수 계약의 발표 기준 기업가치
- note: 킴벌리클라크는 켄뷰의 발행주식 전부를 현금과 주식으로 인수하는 합병 계약을 체결했다. 거래는 아직 종결 전이므로 계약 기준 기업가치를 표시한다.
- [confirms] 미국 증권거래위원회 (EN, filing, published 2026-02-20) https://www.sec.gov/Archives/edgar/data/1944048/000194404826000030/kvue-20251228.htm: "K-C는 켄뷰의 발행주식 전부를 인수하기로 했다."
- [confirms] 킴벌리클라크 투자자관계 (EN, ir, published 2025-11-03) https://www.investor.kimberly-clark.com/news-releases/news-release-details/kimberly-clark-acquire-kenvue-creating-32-billion-global-health: "킴벌리클라크는 켄뷰의 모든 발행주식을 인수한다고 발표했다."
- [confirms] 뉴시스 (KO, news, published 2025-11-03) https://mobile.newsis.com/view/NISX20251103_0003388569: "킴벌리-클라크가 켄뷰를 487억달러 상당의 현금 및 주식으로 인수한다."

## 질문별 엔드포인트
- 누가 켄뷰의 고객인가? 켄뷰의 매출은 어디서 오는가? → https://valuechain.wiki/kenvue/customers.md
- 켄뷰의 주요 공급사는 어디인가? 켄뷰의 비용은 누구에게 가는가? → https://valuechain.wiki/kenvue/suppliers.md
- 켄뷰 주가가 움직이면 누가 수혜를 보는가? 켄뷰의 가치사슬 파급은 어디까지인가? → https://valuechain.wiki/kenvue/ripple.md
- 증권가가 보는 켄뷰: 목표주가와 투자의견은? → https://valuechain.wiki/kenvue/consensus.md

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_Generated for LLM/agent consumption. Each edge lists stance (confirms/mentions/contradicts), source publisher, language, date, and excerpt for verification._