Johnson & Johnson’s consumer health spinoff, Kenvue recently started trading on the New York Stock Exchange. The listing was well received by the market, with Kenvue’s share price rising by 22% from its initial public offer (IPO) price on the day it came to market. With a market capitalisation of about US$50 billion, Kenvue also became the largest US IPO since 2021. Victor Mupunga, Head of Research at Private Clients assesses how the business stacks up against peers such as Procter & Gamble (P&G),Unilever and Reckitt.