Value Investing

Vladimir Dimitrov, CFA

Equity Bottom-Up

<ul>
<li>Kimberly-Clark's disappointing performance in recent years is hardly a surprise and does not make the company a bargain.</li>
<li>The short-term perspective on margins remains mixed, in spite of the management's optimism.</li>
<li>KMB could no longer support these activities, according to the company's management.</li>
</ul>


Kimberly-Clark's disappointing performance in recent years is hardly a surprise and does not make the company a bargain.
The short-term perspective on margins remains mixed, in spite of the management's optimism.
KMB could no longer support these activities, according to the company's management.


Kimberly-Clark: Short-Term Tailwinds, But Little Hope For The Long Run

<ul>
<li>Kimberly-Clark's stock has enjoyed a brief period of at-par performance with the rest of the equity market.</li>
<li>Some of the tailwinds that made this rally possible are dissipating and are unlikely to provide a sustainable tailwind for shareholders.</li>
<li>In recent years, it has been next to impossible to conceive a long investment thesis for Kimberly-Clark (<span class="ticker-hover-wrapper">NYSE:<a href="https://www.smartkarma.com/search?q=KMB" target="_blank" rel="noopener">KMB</a></span>).</li>
</ul>


Kimberly-Clark's stock has enjoyed a brief period of at-par performance with the rest of the equity market.
Some of the tailwinds that made this rally possible are dissipating and are unlikely to provide a sustainable tailwind for shareholders.
In recent years, it has been next to impossible to conceive a long investment thesis for Kimberly-Clark (NYSE:KMB).


Kimberly-Clark: Short-Term Tailwinds Dissipate

<ul>
<li>Kimberly-Clark has been among the worst-performing large-cap consumer staple businesses.</li>
<li>Even though management is executing well, the strategic positioning of the business remains weak.</li>
<li>Dividend increases appear unlikely, which does not bode well for returns given the inflationary environment.</li>
</ul>


Kimberly-Clark has been among the worst-performing large-cap consumer staple businesses.
Even though management is executing well, the strategic positioning of the business remains weak.
Dividend increases appear unlikely, which does not bode well for returns given the inflationary environment.


Kimberly-Clark: Strategic Positioning Matters

<ul><li>Since I first covered Kimberly-Clark back in June of last year, the total return has been disappointing, to say the least.</li><li>Rising commodity prices are proving to be a headwind for all Personal &amp; Home Care companies, however, KMB is hit disproportionally.</li><li>Kimberly-Clark is at a competitive disadvantage to its peers, which could have a lasting impact on returns.</li></ul>

Since I first covered Kimberly-Clark back in June of last year, the total return has been disappointing, to say the least.Rising commodity prices are proving to be a headwind for all Personal &amp; Home Care companies, however, KMB is hit disproportionally.Kimberly-Clark is at a competitive disadvantage to its peers, which could have a lasting impact on returns.

Kimberly-Clark Did Underperform, I Don't See This Changing

United States

Kimberly-Clark Corporation is a global health and hygiene company that manufactures and provides consumer products. The Company's products include diapers, tissues, paper towels, incontinence care products, surgical gowns, and disposable face masks.  Kimberly-Clark's products are sold in countries around the world.

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Kimberly Clark (KMB US)

Kimberly-Clark: Short-Term Tailwinds, But Little Hope For The Long Run

Kimberly-Clark's disappointing performance in recent years is hardly a surprise and does not make the company a bargain.

Vladimir Dimitrov, CFA

Kimberly-Clark: Short-Term Tailwinds Dissipate

Some of the tailwinds that made this rally possible are dissipating and are unlikely to provide a sustainable tailwind for shareholders.

Vladimir Dimitrov, CFA

Kimberly-Clark: Strategic Positioning Matters

Kimberly-Clark has been among the worst-performing large-cap consumer staple businesses. Even though management is executing well, the strategic...

Vladimir Dimitrov, CFA

Kimberly-Clark Did Underperform, I Don't See This Changing

Since I first covered Kimberly-Clark back in June of last year, the total return has been disappointing, to say the least. Rising commodity prices...

Vladimir Dimitrov, CFA

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