Munger Mode rating: 2 out of 5 — Sell. Our own rating from the research report below, on business quality first: moat durability and management, with price separating the top three.
Current Price: $111.57 (close 2026-08-04) We have known Kimberly-Clark for the better part of a century. Kleenex became the generic word for facial tissue before most investors alive today were born, and Huggies has fought Procter & Gamble's Pampers to a respectable draw for decades. This is an understandable business selling products people buy in good times and bad. And yet, after working through the latest 10-Q, the Q2 2026 results, and the pending $48.7 billion Kenvue acquisition, we arrive at an uncomfortable conclusion: this is an average business — flat for a decade, half-protected by brands, half-exposed to private label — that is about to nearly double its share count to buy a litigation-encumbered consumer health company whose flagship product is the subject of over 500 recently revived lawsuits.
Recent filings analysed: 8-K (2026-08-04), 10-Q (2026-08-04), 8-K (2026-05-14), 8-K (2026-05-05).
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