Can Kimberly-Clark’s Revenue Cross $19 Billion By 2021?

by Trefis Team
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Kimberly Clark’s (NYSE: KMB) total revenue has grown from $18.26 billion in 2017 to $18.45 billion in 2019, and is expected to further grow steadily to $19.05 billion by 2021. Kimberly-Clark’s revenue has grown from $18.26 billion to $18.45 billion on the back of steady growth in emerging markets for consumer tissue, and an overall rise in selling prices.
However, adverse foreign currency fluctuations and a lack of growth in the personal care segment, have weighed down on revenue, with growth of only ~0.5% YoY in the last 2 years.
We expect to see a higher growth rate going forward, with revenue to grow to $19.05 billion by 2021.


  • Kimberly Clark’s Personal Care segment, which primarily sells baby care and feminine care products, is expected to contribute $9.23 billion to total revenue in 2020, making up 49% of KMB’s total revenue estimate.
  • The Consumer Tissue division is expected to bring in $6.1 billion in 2020, to make up 33% of the total revenue estimate.
  • The expected $790 million of revenue growth for Kimberly-Clark between 2017 and 2021, will be driven primarily by a $340 million growth in the Consumer Tissue segment.
  • Kimberly Clark’s total revenue has grown by around 1% between 2017 and 2019, and we expect a further 3.25% growth in revenue by 2021.
  • In our interactive dashboard Kimberly-Clark Revenue: How Does KMB Make Money?, we discuss KMB’s business model, followed by sections that review past performance and 2021 expectations for KMB’s revenue.

A look at Kimberly-Clark’s segments and their contribution to total revenue

Additional details about how Kimberly-Clark’s Revenues and Key Operating Metrics compare with that of Colgate-Palmolive’s are available in our interactive dashboard.

(A) Personal Care revenue to grow by $190 million over the next 2 years, making up 49% of total revenue

  • Personal care revenue has seen no change over the past 2 years, going from $9.1 billion in 2017 to $9.14 billion in 2019, amidst foreign currency headwinds and growing competition in emerging markets.
  • However, going forward we expect things to get better, with revenue from this segment to come in at $9.23 billion in 2020 and $9.33 billion in 2021.

(B) Consumer Tissue Revenue to grow by $280 million over the next 2 years to make up 33% of 2021’s total revenue estimate

  • Consumer Tissue revenue has grown marginally from $5.95 billion in 2017 to $6.01 billion in 2019.
  • A major part of the revenue from this segment comes from North America, and we expect the same going forward.
  • We expect this metric to grow to $6.29 billion by 2021.

(C) KC Professional revenue expected to grow by around $130 million over the next 2 years, to make up the remaining 18% of total revenue in 2021

  • This segment has added around $90 million between 2017 and 2019, making up almost 50% of the $190 million revenue growth over the same period.
  • We expect revenue from this segment to keep growing, reaching around $3.43 billion by 2021.

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