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Procter & Gamble (PG) stock

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NYSE: PG NYSE Personal Care Products Next results ~January 21, 2027

B Fundamentals grade

Procter & Gamble is a US-listed company in the personal care products industry. Its financial year ends in June.

Stock price today

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Third-party market data · may be delayed

Fair value per share

~$100

Cash-flow model

Base case. Range ~$75–$140 across our lower- and higher-growth cases (-2.3%–7.7% a year).

Price vs value

Overvalued

The price is above our entire value range; our base value is 36% below it.

Price used: $163.56, November 2, 2026

Procter & Gamble valuation: adjust assumptions and compare models →

Who’s trading

What company insiders, investment funds and members of Congress have been doing with the stock, from their own filings.

Value diary

Our note on each quarter Procter & Gamble files

10-Q filed October 22: Procter & Gamble

Model value +2.1%

Revenue for the twelve months to September 2026 reached $87.9bn, up 3.5% on a year earlier and holding roughly the pace seen a quarter ago. Free-cash-flow margin stayed at 17.4%. On the back of that, our fundamentals grade improves from C+ to B. Our model value edges up from $101 to $103 a share. Against a share price of $166, the rating stays Sell. The gap is the sticking point. At $166, our model implies the market expects about 10.3% a year of cash-flow growth over five years. That sits well above the 1.9% a year revenue growth the business has actually delivered.

Source: 10-Q filed October 22, 2026 on SEC EDGAR · Financials · Valuation

Earlier notes (1)

Where Procter & Gamble stands after its latest 10-K

Revenue for the twelve months to June 2026 was $87.0bn, up 3.3% on a year earlier, about the same pace as a quarter earlier. Free-cash-flow margin held at 17.4%. Against its peers on growth, profitability, cash generation and balance sheet, it grades C+. It passes 2 of our 7 financial-health checks. Our cash-flow model value is $102 a share, against a share price of $158. At that price, our model says the market is pricing in about 10.2% a year of cash-flow growth for five years, faster than the 2.7% a year revenue growth it has delivered.

10-K on SEC EDGAR

Written from the company's filings and our models when each quarter's report arrives. Figures in older notes are as published at the time. Not investment advice.

The Fundamentalytics view

Next results ~January 21, 2027 (estimated)

Procter & Gamble's trailing-twelve-month revenue grew 3.5% year on year, with a free-cash-flow margin of 17.4%. Where it stands out: operating margin of 22.6% ranks 1 of 21 personal care products companies we cover.

Our discounted-cash-flow model values the business at ~$100 per share in the base case (~$75–$140 across growth scenarios) — model values under stated assumptions, not a price target.

Current signal Operating margin compressing: TTM operating margin fell to 22.6%, down 1.6pp year over year.

Assembled from SEC-filed figures — the full workings are on this page and in our methodology. Observations, not recommendations.

Highlights

How we pick these

Strengths

  • Shrinking share count. Diluted shares fell 1.3% in a year, so each share owns more of the business.
  • Beating expectations. Earnings per share beat the analysts' consensus estimate in each of the last four quarters.

Things to watch

  • Priced above our value. The share price of $163.56 is 36% above our value per share of $100.
  • Insiders selling. 15 insiders sold $70M of stock over the past 365 days and none bought (0% under pre-set trading plans).
  • Below peers: gross margin. Gross margin of 49.8% ranks 16 of 21 personal care products companies we cover (median 69.2%).

Latest results: FY2027 Q1

Filed October 22, 2026
Earnings per share
$2.00 against an average estimate of $1.89: beat by 5.7%
Revenue
$23.28bn, up 4.0% on a year earlier
Share reaction
+3.3% in the first session after the results on October 22, 2026, against -1.7% for the S&P 500
Guidance given
core earnings per share $6.89 to $7.11 (fiscal 2027); core effective tax rate 20% to 21% (fiscal 2027)
Next report
January 21, 2027; average EPS estimate $1.82

Procter & Gamble's figures from its SEC filings and results release; estimates are the analysts' average. Not a recommendation.

Price chart

  • 1 day+1.2%
  • 1 week+2.3%
  • 1 month+13.6%
  • This year+17.4%
  • 1 year+11.9%
  • 5 years+28.3%
  • S&P 500 this year+11.2%

Closing prices to 2026-11-02. Price change only, dividends excluded.

Loading chart…

Third-party market data · may be delayed

At a glance

Trailing twelve months, from SEC filings

Profitability

Revenue (TTM)
$87.9B
Operating margin
22.6%
Net margin
18.2%
EPS (TTM, diluted)
$6.64

Growth

Revenue growth
+3.5%
Change in growth rate
+0.3 pts
Share count change
−1.3%

Cash

Free cash flow (TTM)
$15.3B
FCF margin
17.4%
Stock pay % of revenue
0.6%

Earnings

Last results
October 22, 2026
Next results (est.)
January 21, 2027

News & updates

Updated November 3, 2026

Company announcements, filed results and changes that matter to shareholders.

  1. Announcement
  2. Announcement
  3. Our research
  4. Insider trade
  5. Results

    P&G posts 4% sales rise in first quarter

    Procter & Gamble reported first quarter net sales of $23.3 billion, up four percent year on year. Diluted earnings per share stood at $1.97, while the company returned $3.9 billion to shareholders through dividends and buybacks. Management said it maintains its full-year guidance for organic sales and earnings growth.

    Company releaseRead source ↗SEC filing ↗
  6. Announcement
  7. Guidance
  8. Shareholder vote
  9. Dividend

    P&G sets quarterly dividend at $1.0885 per share

    Procter & Gamble said its board declared a quarterly dividend of $1.0885 per share. The payment is due on or after November 16, 2026, to holders of record by October 23, 2026. The company noted it has raised its payout for 70 consecutive years.

    Company releaseRead source ↗
  10. Announcement

    P&G declares quarterly dividend and confirms board elections

    Procter & Gamble said its board declared a quarterly dividend of $1.0885 per share on October 13, 2026. The payment is due on or after November 16, 2026, to holders of record as of October 23, 2026. The company also reported that all twelve director nominees were elected at the annual meeting.

    SEC 8-KRead source ↗
  11. Leadership
  12. Results
  13. Announcement
  14. Dividend
  15. Announcement

Refreshed hourly when new source data is available. Summaries are checked against company releases and SEC filings. Company announcement headlines are labelled when a checked summary is unavailable.

Valuation

Procter & Gamble valuation models and calculator

What the price is pricing in

The share price implies about 9.9% a year of cash-flow growth for five years.That is faster than the 1.9% a year revenue growth Procter & Gamble has delivered.

  • Priced in9.9%
  • Last 12 months3.5%
  • 3 years a year1.8%
  • 5 years a year1.9%

Our cash-flow model with every input fixed except growth over the next five years, solved for the growth at which the model value equals the share price ($162.30, Nov 3, 2026). Cash-flow growth then fades to 2.5% a year; discount rate 8.5%. Delivered figures are revenue growth from SEC filings. This is a model exercise, not investment advice or a forecast of the share price. All companies

Fundamentalytics rating

model v1.6 · 2026-11-03
Sell12-month view
12-month price target
~$100
Price used
$162.30close November 3, 2026
Implied change
▼ 36%
Uncertainty
Medium

How we got here: a discounted-cash-flow model of Procter & Gamble's free cash flow after stock-based pay with after-tax interest added back ($16B, FY2027 Q1 TTM), growing 2.8% and 2.9% in the next two years (forecasts, guidance and its record), then back to 2.7% by year five, and fading to 2.5%, discounted at 8.5%. Lower and higher growth cases span ~$75–~$140 ; that spread sets a 25% margin before we rate Buy or Sell.

Produced by Fundamentalytics' automated valuation model on November 3, 2026, using delayed market prices. Rating meanings, methodology and conflicts: recommendations disclosure and research disclaimer. General research, not personal advice — it does not consider your circumstances. Prices can fall as well as rise.

Our value per share comes from a discounted-cash-flow model of Procter & Gamble's free cash flow after stock-based pay ( $16B, FY2027 Q1 TTM, with after-tax interest added back): growth for five years as below (the first two years from forecasts, guidance and the company's record), fading to 2.5%, discounted at 8.5%, then cash added and debt and other claims subtracted. These are model values under stated assumptions, not price targets or recommendations.

Valuation models

We value Procter & Gamble as an operating company, with every model that fits that kind of business. Cost of equity 7.3%: the 10-year Treasury yield (4.9%) plus a beta of 0.52 times a 4.5% equity risk premium.

Value per share by model
Model Value per share In the combined value?
Cash-flow model (DCF) Free cash flow to the firm (after stock pay, with after-tax interest added back), grown then faded to 2.5%, discounted at 8.5% as the firm rate, less debt and other claims. ~$100 ~$75–$140 Primary model, counts double
Forward price-to-earnings vs peers Next year's consensus earnings per share times peers' typical (harmonic-mean) forward price-to-earnings. Uses analysts' consensus estimates (third-party data), not our forecasts. ~$120 ~$110–$190 Included
Residual income Book value plus the present value of returns above the cost of equity, fading over ten years. ~$120 ~$93–$170 Included
Justified price-to-book Book value times (return on equity - growth) / (cost of equity - growth): steady-state returns. ~$150 ~$120–$190 Included
Combined value Weighted average of the models that apply: the primary model (cash-flow model (dcf)) counts double. Models more than 5x or less than 0.2x the share price, or more than 3x away from the other models' median, are left out. ~$120 ~$100–$150 4 models

Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare Procter & Gamble with Personal Care Products in our coverage, using third-party market data. Model values are estimates under stated assumptions, updated as new filings arrive; not price targets or investment advice. How each model works.

What moves the value

  • Revenue growth 5 points lower ▼ −28%
  • Revenue growth 5 points higher ▲ +36%
  • Free-cash-flow margin 1 point lower ▼ −6%
  • Last year's free-cash-flow margin change, if it persists ▼ −1%
  • Discount rate 1 point higher ▼ −16%
Value per share under different assumptions
Discount rate ↓ / growth → −5% growth0% growth5% growth10% growth15% growth20% growth
7% $85$119$165$225$303$404
8.5% $62$87$120$163$219$290
10% $49$68$93$126$168$223

Valuation multiples over time Market data may be delayed

At fiscal year end 20162017201820192020202120222023202420252026Now
Share price$63.56$67.48$62.41$90.59$101.33$117.15$127.80$138.42$154.30$152.71$144.60$163.56
Market value$180.8bn$184.9bn$165.8bn$230.1bn$266.1bn$304.7bn$324.5bn$343.8bn$381.4bn$374.8bn$350.3bn$395.0bn
+ Net debt (− = net cash)$22.5bn$26.0bn$28.7bn$25.9bn$18.5bn$21.7bn$24.3bn$26.4bn$23.0bn$25.0bn$24.2bn$23.6bn
Enterprise value$203.3bn$211.0bn$194.5bn$255.9bn$284.6bn$326.4bn$348.8bn$370.2bn$404.4bn$399.8bn$374.5bn$418.6bn
Multiples
Price / sales 2.8x2.8x2.5x3.4x3.8x4.0x4.0x4.2x4.5x4.4x4.0x4.5x
Price / earnings 17.2x12.1x17.0x59.0x20.4x21.3x22.0x23.5x25.6x23.5x21.8x24.6x
Price / free cash flow 14.9x19.7x14.9x19.3x18.6x19.6x23.9x24.9x23.1x26.7x23.1x25.8x
EV / EBITDA 12.3x12.7x12.0x30.8x15.2x15.8x16.9x17.8x18.9x17.2x16.3x18.2x

Market value uses the period's diluted share count; figures for each fiscal year use that year's results and the price at year end. "Now" uses today's price and the last twelve months.

Moat

82 /100

Strong moat

How hard Procter & Gamble's competitive advantage looks for rivals to wear away, judged from 10 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.

  • Returns on capital 20 / 20

    Cash operating profit has been a median 15.2% of total assets over 9 years.

  • Pricing power 17 / 20

    Gross margin has been a median 49.8%, moving by 1.3 percentage points (standard deviation) across 9 years.

  • Durability 13 / 20

    Operating margin has been a median 22.3%; its worst year was 9.0%.

  • Cash conversion 19 / 20

    Free cash flow was positive in 10 of 10 years, at a median 17.6% of revenue.

  • Discipline 19 / 20

    The diluted share count fell 6.6% over five years; stock-based pay has been a median 0.6% of revenue.

AI disruption exposure: Medium. In this industry, AI could change how the product is made or sold, without replacing the core asset. The score above includes a 5-point deduction for that exposure (87 before it).

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

Forecasts and guidance

Next results: January 21, 2027, before the open. Analysts expect revenue of $22.9bn and EPS of $1.82 (range $1.80 to $1.89) for the quarter.

Analysts' consensus

Fiscal yearEPSGrowthRevenueGrowth
Current $6.97 +1% $89.6bn +3%
Next $7.40 +6% $92.6bn +3%

Next year's EPS estimate has moved −0.2% in 90 days, across 20 analysts.

How the EPS forecast has moved

The consensus EPS forecast for the current fiscal year is −0.9% on 90 days ago. In the last 30 days, 3 analysts raised Procter & Gamble's forecast and 3 cut it.

Consensus EPS forecast Procter & Gamble, last 90 days
$6.80 $7.00 $7.20 $7.40 $7.60 90 days ago 60 days ago 30 days ago 7 days ago Now Current fiscal year, 90 days ago: $7.04 Current fiscal year, 60 days ago: $6.99 Current fiscal year, 30 days ago: $6.98 Current fiscal year, 7 days ago: $6.98 Current fiscal year, Now: $6.97 $6.97 Next fiscal year, 90 days ago: $7.42 Next fiscal year, 60 days ago: $7.40 Next fiscal year, 30 days ago: $7.40 Next fiscal year, 7 days ago: $7.39 Next fiscal year, Now: $7.40 $7.40

Average of analysts' published estimates (third-party data).

View chart data
Period Current fiscal yearNext fiscal year
90 days ago $7.04$7.42
60 days ago $6.99$7.40
30 days ago $6.98$7.40
7 days ago $6.98$7.39
Now $6.97$7.40

Earnings against estimates

Quarter toEstimateActualSurprise
Sept 2026 $1.89 $2.00 +5.7%
Jun 2026 $1.41 $1.43 +1.6%
Mar 2026 $1.56 $1.59 +2.2%
Dec 2025 $1.86 $1.88 +1.2%

Adjusted EPS as companies report it, against the average analyst estimate.

Management guidance

Earnings release, October 22, 2026
  • core earnings per share fiscal 2027 $6.89 to $7.11 Non-GAAP Maintained
    “This outlook equates to a range of $6.89 to $7.11 per share, with a mid-point estimate of $7.00, or an increase of approximately one and a half percent.” source
  • core effective tax rate fiscal 2027 20% to 21% Non-GAAP Raised vs about 20
    “P&G now expects a core effective tax rate to be in the range of 20% to 21% in fiscal 2027.” source
  • free cash flow productivity fiscal 2027 85% to 90% Non-GAAP Maintained
    “P&G continues to expect free cash flow productivity of 85% to 90% and expects to pay over $10 billion in dividends and to repurchase approximately $5 billion of common shares in fiscal 2027.” source

Figures and quotations are management's, copied from the company's own press release (SEC 8-K exhibit) and checked word for word against it. Forward-looking statements are the company's expectations, not ours and not advice; guidance can change or be missed.

How our valuation uses these forecasts

Our cash-flow model grows Procter & Gamble's revenue by +2.8% next year and +2.9% the year after, then fades back toward its own record by year five. Next year's rate weighs analysts' consensus (+2.8%, weight 69%) and the company's own record (+2.7%, weight 31%) . How the weights are set.

Analyst recommendations

25 analysts, Oct 2026
Buy1456%
Hold1144%
Sell00%

Monthly trend

  1. Oct 2026591125
  2. Sep 2026671225
  3. Aug 2026671225
  4. Jul 2026681125

Counts of recommendations published by analysts covering Procter & Gamble, by month. Source: Aggregated broker recommendations (third-party data). Aggregated counts only: we do not reproduce any firm's recommendation or price target, and these are not Fundamentalytics ratings.

Positioning

Short interest
0.9%
of tradable shares
Days to cover
2.64
at average volume
Short interest, 1 month
−9%
to October 15, 2026
Held by institutions
72%
of shares
Held by insiders
0.1%
of shares
Employees
104,000
full time

Consensus figures average analysts' published estimates (third-party data); guidance is the company's own. Neither is our forecast. Short interest is reported twice a month and lags. Market data may be delayed.

This section is general information, not investment advice or a personal recommendation, and it does not take account of your objectives or circumstances. Forecasts and guidance are estimates, not promises: companies miss their own guidance and analysts' figures are often revised. Prices can fall as well as rise, and you can lose money. See our disclaimer.

Share-price performance

Market data may be delayed

What moved the share price

Last 12 months +11.9%

$146.13 on October 31, 2025 to $163.56

ThenNowEffect
Revenue (last 12 months) $84.3bn $87.0bn +3.3%
Net margin 19.0% 18.4% −2.7%
P/E multiple 22.5x 24.7x +10.0%
Share count 2454m 2423m +1.3%

Biggest factor: p/e multiple.

Last 3 years +18.0%

$138.63 on November 3, 2023 to $163.56

ThenNowEffect
Revenue (last 12 months) $82.0bn $87.0bn +6.1%
Net margin 17.9% 18.4% +3.2%
P/E multiple 23.5x 24.7x +5.1%
Share count 2484m 2423m +2.5%

Biggest factor: revenue.

The effects multiply back to the price change exactly. Results are the last 12 months as known on each date (filings assumed public 45 days after quarter end).

Return and risk by year

Calendar year 202120222023202420252026 to date
Return
PG+21%−5%−1%+17%−12%+17%
Industry peers (median)+32%−33%+6%−11%−34%−1%
S&P 500+29%−18%+26%+25%+18%+11%
Months that ended higher
PG67%33%50%75%25%73%
S&P 50075%42%67%75%75%46%
Largest fall from a high during the year
PG−12%−24%−11%−9%−20%−16%
S&P 500−5%−25%−10%−8%−19%−9%

Worst fall since November 3, 2015: 24% from April 28, 2022 to October 10, 2022. Getting back needed a 31% gain, reached on January 30, 2024, 477 days after the low.

Price behaviour

52-week range
$134.15 – $164.50
From 52-week high
−0.6%
vs 50-day average
+9.4%
vs 200-day average
+11.3%
Volatility (1 year)
21%
Beta vs S&P 500
-0.10

Volatility is the annualised standard deviation of daily returns. Beta 1.5 means the shares typically moved 1.5% for each 1% move in the S&P 500 over the past year. Prices to November 2, 2026.

Share price after results

Next day
7 up, 5 down
typical move ±2.7%
After a week
6 up, 6 down
typical move ±2.8%
After a month
5 up, 6 down
typical move ±4.0%
Results releasedNext dayS&P 500 next day5 days21 days
October 22, 2026 +3.3% −1.7% +3.1% —
July 29, 2026 −3.3% +0.1% −1.4% −3.9%
April 24, 2026 +2.6% +0.9% +1.8% −1.1%
January 22, 2026 +3.5% +0.6% +3.4% +13.9%
October 24, 2025 +0.4% +2.0% −0.5% −2.8%
July 29, 2025 −2.7% −0.4% −4.2% −0.1%
April 24, 2025 −2.8% +2.8% −3.5% +0.1%
January 22, 2025 +2.7% +1.1% +3.4% +5.9%
October 18, 2024 −1.0% +0.2% −1.8% −0.3%
July 30, 2024 −5.4% +1.1% −1.1% −0.5%
April 19, 2024 +2.1% 0.0% +2.5% +6.4%
January 23, 2024 +2.9% +0.4% +6.5% +8.6%

From the close before the release date to the close 1, 5 and 21 trading days after it, so releases before the open and after the close are both captured. Past moves don't predict future ones.

Options strategies

All options ideas

How Procter & Gamble’s listed options are priced, and three ways to use them that follow from our valuation. Quotes are delayed, read November 2, 2026. Check the live chain at your broker before trading.

Implied vs realised volatility

Options look fairly priced

Implied volatility is within its normal range against realised. Selling options earns the usual premium, nothing extra.

  • Implied is 1.34× the last 60 days’ realised volatility , richer than 79% of the 229 stocks we screen today.
  • Why: implied is not far enough above realised, or not unusual against our coverage.

Our rule for “rich”: implied at least 1.2× 60-day realised (beyond measurement noise), above 1-year realised (not just a calm spell), and in the top 20% of our coverage that day. Never with results inside the option’s life. These are our conventions, built on research showing option prices usually imply more movement than follows, most when the gap is wide. How we judge this.

Cash-secured put

Not offered: rated Sell.

We suggest selling a put only on well-rated companies, at a strike where the price you would pay if assigned (strike less premium) is at or below our fair value.

PG Procter & Gamble Grade B $164.07

Own 100 shares, sell the $170 call expiring December 4, 2026 (32 days) for $1.48 a share — $148 per contract.

Previous session · Bid $1.48, ask $1.90, quoted Mon 2 Nov, 17:33 New York time with PG at $164.07. Option prices move with the shares: check the live chain at your broker before trading.

  • If PG ends below $170: you keep your shares and the $148 — 0.9% extra on the position, 10.3% a year at that pace.
  • If it ends above $170: your shares are sold at $170, a total return of 4.5% including the premium — at or above our value of ~$100.
$741 $0 −$3.3k Break-even $162.59 Price $164.07 ← Our value ~$100
Profit or loss per contract at expiry, by share price (including the shares bought at today's price).
Premium
$148
Annualised
10.3%
Break-even
$162.59
Max gain
$741
Chance of selling
~32%

Collar

Own the shares, buy the $157.5 put and sell the $172.5 call, both expiring November 27, 2026 (25 days).

  • Net cost of $0.61 a share ($61.00 per contract of 100 shares).
  • Worst case at expiry: -4.4%, if the shares fall below $157.5 (-4.0% from today).
  • Best case at expiry: +4.8%, if the shares rise above $172.5 (+5.1%); gains beyond that go to the call buyer.

Offered because the shares trade at or above our fair value of $100: a way to hold on with a floor under the price, paid for by giving up upside the model does not expect. Strikes near 25-delta; the put at its ask and the call at its bid. Protection has a cost over time: research on protective puts finds they have usually lowered returns.

General research, not personal advice. Options can lose you more than you expect and are not suitable for everyone: put sellers can be made to buy shares that keep falling, call sellers give up gains above the strike, and results or news can move prices sharply. Chances shown are approximations from each option’s delta. Spreads, fees and early assignment are not modelled.

Procter & Gamble in five measures

Fundamentals grade B
Growth Profitability Cash Balance sheet Value

Growth, profitability, cash generation and balance sheet are percentiles against the companies we cover in the same industry, from SEC filings (100 = best). Value compares the share price with our modelled value range (50 = at our base value; higher = cheaper). A description of reported data and our model — not a quality score or advice.

Fundamentals

Revenue (TTM) Procter & Gamble
$82B $84B $86B $88B FY24 Q2 FY25 Q1 FY25 Q4 FY27 Q1 Revenue (TTM), FY24 Q2: $83.9B Revenue (TTM), FY24 Q3: $84.1B Revenue (TTM), FY24 Q4: $84B Revenue (TTM), FY25 Q1: $83.9B Revenue (TTM), FY25 Q2: $84.3B Revenue (TTM), FY25 Q3: $83.9B Revenue (TTM), FY25 Q4: $84.3B Revenue (TTM), FY26 Q1: $84.9B Revenue (TTM), FY26 Q2: $85.3B Revenue (TTM), FY26 Q3: $86.7B Revenue (TTM), FY26 Q4: $87B Revenue (TTM), FY27 Q1: $87.9B $87.9B

Source: SEC EDGAR filings. Retrieved October 23, 2026.

View chart data
Period Revenue (TTM)
FY24 Q2 $83.9B
FY24 Q3 $84.1B
FY24 Q4 $84B
FY25 Q1 $83.9B
FY25 Q2 $84.3B
FY25 Q3 $83.9B
FY25 Q4 $84.3B
FY26 Q1 $84.9B
FY26 Q2 $85.3B
FY26 Q3 $86.7B
FY26 Q4 $87B
FY27 Q1 $87.9B
Revenue growth, TTM YoY Procter & Gamble
-2% 0% 2% 4% 6% FY24 Q2 FY25 Q1 FY25 Q4 FY27 Q1 Revenue growth, TTM YoY, FY24 Q2: 4.5% Revenue growth, TTM YoY, FY24 Q3: 3.8% Revenue growth, TTM YoY, FY24 Q4: 2.5% Revenue growth, TTM YoY, FY25 Q1: 0.8% Revenue growth, TTM YoY, FY25 Q2: 0.5% Revenue growth, TTM YoY, FY25 Q3: -0.2% Revenue growth, TTM YoY, FY25 Q4: 0.3% Revenue growth, TTM YoY, FY26 Q1: 1.2% Revenue growth, TTM YoY, FY26 Q2: 1.1% Revenue growth, TTM YoY, FY26 Q3: 3.3% Revenue growth, TTM YoY, FY26 Q4: 3.3% Revenue growth, TTM YoY, FY27 Q1: 3.5% 3.5%

Source: SEC EDGAR filings. Retrieved October 23, 2026.

View chart data
Period Revenue growth, TTM YoY
FY24 Q2 4.5%
FY24 Q3 3.8%
FY24 Q4 2.5%
FY25 Q1 0.8%
FY25 Q2 0.5%
FY25 Q3 -0.2%
FY25 Q4 0.3%
FY26 Q1 1.2%
FY26 Q2 1.1%
FY26 Q3 3.3%
FY26 Q4 3.3%
FY27 Q1 3.5%
Operating margin (TTM) Procter & Gamble
22% 23% 24% 25% FY24 Q2 FY25 Q1 FY25 Q4 FY27 Q1 Operating margin (TTM), FY24 Q2: 22.2% Operating margin (TTM), FY24 Q3: 22.4% Operating margin (TTM), FY24 Q4: 22.1% Operating margin (TTM), FY25 Q1: 22.1% Operating margin (TTM), FY25 Q2: 23.6% Operating margin (TTM), FY25 Q3: 23.8% Operating margin (TTM), FY25 Q4: 24.3% Operating margin (TTM), FY26 Q1: 24.1% Operating margin (TTM), FY26 Q2: 23.6% Operating margin (TTM), FY26 Q3: 23.2% Operating margin (TTM), FY26 Q4: 22.7% Operating margin (TTM), FY27 Q1: 22.6% 22.6%

Source: SEC EDGAR filings. Retrieved October 23, 2026.

View chart data
Period Operating margin (TTM)
FY24 Q2 22.2%
FY24 Q3 22.4%
FY24 Q4 22.1%
FY25 Q1 22.1%
FY25 Q2 23.6%
FY25 Q3 23.8%
FY25 Q4 24.3%
FY26 Q1 24.1%
FY26 Q2 23.6%
FY26 Q3 23.2%
FY26 Q4 22.7%
FY27 Q1 22.6%
FCF margin (TTM) Procter & Gamble
16% 17% 18% 19% 20% FY24 Q2 FY25 Q1 FY25 Q4 FY27 Q1 FCF margin (TTM), FY24 Q2: 19.1% FCF margin (TTM), FY24 Q3: 19.2% FCF margin (TTM), FY24 Q4: 19.7% FCF margin (TTM), FY25 Q1: 18.9% FCF margin (TTM), FY25 Q2: 18.3% FCF margin (TTM), FY25 Q3: 17.9% FCF margin (TTM), FY25 Q4: 16.7% FCF margin (TTM), FY26 Q1: 17.6% FCF margin (TTM), FY26 Q2: 17.4% FCF margin (TTM), FY26 Q3: 17.3% FCF margin (TTM), FY26 Q4: 17.4% FCF margin (TTM), FY27 Q1: 17.4% 17.4%

Source: SEC EDGAR filings. Retrieved October 23, 2026.

View chart data
Period FCF margin (TTM)
FY24 Q2 19.1%
FY24 Q3 19.2%
FY24 Q4 19.7%
FY25 Q1 18.9%
FY25 Q2 18.3%
FY25 Q3 17.9%
FY25 Q4 16.7%
FY26 Q1 17.6%
FY26 Q2 17.4%
FY26 Q3 17.3%
FY26 Q4 17.4%
FY27 Q1 17.4%

Data: SEC EDGAR XBRL company facts (as filed in 10-K/10-Q); forms 10-K, 10-K/A, 10-Q. Generated November 3, 2026. Definitions in our methodology.

Financial statements

US$ billions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year 2010 Jun 2010 2011 Jun 2011 2012 Jun 2012 2013 Jun 2013 2014 Jun 2014 2015 Jun 2015 2016 Jun 2016 2017 Jun 2017 2018 Jun 2018 2019 Jun 2019 2020 Jun 2020 2021 Jun 2021 2022 Jun 2022 2023 Jun 2023 2024 Jun 2024 2025 Jun 2025 2026 Jun 2026 LTM Sept 2026
Income
Revenue 77.6 81.1 82.0 80.1 74.4 70.7 65.3 65.1 66.8 67.7 71.0 76.1 80.2 82.0 84.0 84.3 87.0 87.9
Gross profit — — — — — — — 32.4 32.4 32.9 35.7 39.0 38.0 39.2 43.2 43.1 43.7 43.8
EBITDA 18.8 18.3 16.2 16.8 17.1 14.2 16.5 16.6 16.2 8.3 18.7 20.7 20.6 20.8 21.4 23.3 22.9 23.0
Operating income 15.7 15.5 13.0 13.8 13.9 11.0 13.4 13.8 13.4 5.5 15.7 18.0 17.8 18.1 18.5 20.5 19.7 19.8
Net income 12.7 11.8 10.8 11.3 11.6 7.0 10.5 15.3 9.8 3.9 13.0 14.3 14.7 14.7 14.9 16.0 16.0 16.0
Diluted EPS $4.11 $3.93 $3.66 $3.86 $4.01 $2.44 $3.69 $5.59 $3.67 $1.43 $4.96 $5.50 $5.81 $5.90 $6.02 $6.51 $6.62 $6.64
Growth (year on year)
Revenue +1.1% +4.6% +1.1% −2.3% −7.1% −4.9% −7.7% −0.4% +2.7% +1.3% +4.8% +7.3% +5.3% +2.3% +2.5% +0.3% +3.3% +3.5%
EBITDA +2.1% −2.7% −11.4% +3.4% +1.5% −16.8% +16.5% +0.4% −2.3% −48.7% +125.2% +10.7% −0.5% +1.1% +2.8% +8.7% −1.7% −1.5%
Operating income +2.3% −1.5% −15.9% +6.0% +0.7% −20.6% +21.6% +2.4% −2.9% −58.9% +186.2% +14.5% −1.0% +1.8% +2.3% +10.3% −3.4% −3.3%
Net income −5.2% −7.4% −8.8% +5.2% +2.9% −39.6% +49.3% +45.9% −36.4% −60.0% +234.3% +9.8% +3.0% −0.6% +1.5% +7.4% +0.5% −4.4%
Diluted EPS −3.5% −4.4% −6.9% +5.5% +3.9% −39.2% +51.2% +51.5% −34.3% −61.0% +246.9% +10.9% +5.6% +1.5% +2.0% +8.1% +1.7% −3.1%
Margins
Gross margin — — — — — — — 49.8% 48.5% 48.6% 50.3% 51.2% 47.4% 47.9% 51.4% 51.2% 50.2% 49.8%
EBITDA margin 24.3% 22.6% 19.8% 21.0% 22.9% 20.0% 25.3% 25.5% 24.2% 12.3% 26.4% 27.2% 25.7% 25.4% 25.5% 27.6% 26.3% 26.2%
Operating margin 20.3% 19.1% 15.9% 17.2% 18.7% 15.6% 20.6% 21.2% 20.0% 8.1% 22.1% 23.6% 22.2% 22.1% 22.1% 24.3% 22.7% 22.6%
Net margin 16.4% 14.5% 13.1% 14.1% 15.6% 9.9% 16.1% 23.6% 14.6% 5.8% 18.4% 18.8% 18.4% 17.9% 17.7% 19.0% 18.4% 18.2%
Free-cash-flow margin 16.8% 12.4% 11.4% 13.6% 13.6% 15.4% 18.6% 14.4% 16.7% 17.6% 20.2% 20.5% 16.9% 16.8% 19.7% 16.7% 17.4% 17.4%
Cash flow
Cash from operations 16.1 13.3 13.3 14.9 14.0 14.6 15.4 12.8 14.9 15.2 17.4 18.4 16.7 16.8 19.8 17.8 19.6 19.9
Capital spending 3.1 3.3 4.0 4.0 3.8 3.7 3.3 3.4 3.7 3.3 3.1 2.8 3.2 3.1 3.3 3.8 4.4 4.6
Free cash flow 13.1 10.0 9.3 10.9 10.1 10.9 12.1 9.4 11.2 11.9 14.3 15.6 13.6 13.8 16.5 14.0 15.1 15.3
Stock-based pay 0.5 0.4 0.4 0.3 0.4 0.3 0.3 0.4 0.4 0.5 0.6 0.5 0.5 0.5 0.6 0.5 0.5 0.5
Free cash flow after stock pay 12.6 9.6 8.9 10.5 9.8 10.5 11.8 9.0 10.8 11.4 13.8 15.0 13.0 13.2 16.0 13.6 14.6 14.8
Balance sheet
Cash 2.9 2.8 4.4 5.9 8.5 6.8 8.1 5.6 2.6 4.2 16.2 10.3 7.2 8.2 9.5 9.6 9.9 15.4
Total debt 29.8 33.4 32.5 31.5 37.2 31.9 30.6 31.6 31.3 30.1 34.7 32.0 31.5 34.6 32.5 34.5 34.1 38.9
Net debt (negative = net cash) 27.0 30.6 28.1 25.6 28.7 25.1 22.5 26.0 28.7 25.9 18.5 21.7 24.3 26.4 23.0 25.0 24.2 23.6
Diluted shares 3,099m 3,002m 2,941m 2,931m 2,905m 2,884m 2,844m 2,740m 2,657m 2,540m 2,626m 2,601m 2,539m 2,484m 2,472m 2,454m 2,423m 2,415m
Returned to shareholders
Dividends 5.5 5.8 6.1 6.5 6.9 7.3 7.4 7.2 7.3 7.5 7.8 8.3 8.8 9.0 9.3 9.9 10.2 10.3
Buybacks 6.0 7.0 4.0 6.0 6.0 4.6 4.0 5.2 7.0 5.0 7.4 11.0 10.0 7.4 5.0 6.5 5.0 5.0
Total returned 11.5 12.8 10.2 12.5 12.9 11.9 11.4 12.4 14.3 12.5 15.2 19.3 18.8 16.4 14.3 16.4 15.3 15.3

Source: SEC EDGAR XBRL company facts (US and foreign periodic filings); column headings link to the filing. EBITDA is operating income plus depreciation and amortisation. Free cash flow is cash from operations minus capital spending. Growth is left blank when last year's figure was a loss or under 2% of revenue. Share counts and EPS are restated for stock splits. A dash means the company didn't report the figure.

Financial health

2 of 7 checks passed · September 30, 2026
What it owns · $133.1bn
Short-term assets $32.5bnLonger-term assets $100.6bn
What it owes, and who funded it · $133.1bn
Short-term liabilities $45.0bnLonger-term liabilities $32.8bnShareholders' equity $55.3bn
  • Short-term assets cover short-term liabilities $32.5bn of assets due within a year against $45.0bn of liabilities due within a year.
  • Short-term assets cover long-term liabilities $32.5bn short-term assets against $32.8bn of longer-dated liabilities.
  • More cash than debt $15.4bn of cash against $38.9bn of debt.
  • Debt below 40% of shareholders' equity Debt is 70% of equity.
  • Debt burden no higher than five years ago Debt to equity moved from 52% to 70% over five years.
  • A year's operating cash flow covers at least 20% of debt $19.9bn of operating cash flow against $38.9bn of debt.
  • Operating profit covers interest at least five times over Operating income of $19.8bn against $902m of interest.

From Procter & Gamble's latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Dividends, buybacks and capital spending

FY2027 Q1 TTM
Buybacks (TTM)
$5B
Dividends (TTM)
$10.3B
Returned to shareholders
100%
of free cash flow
Buybacks, last 3 fiscal years
$16.5B
Diluted share count
−1.3%
year over year
Total shareholder yield
3.9%
dividends 2.6% + buybacks 1.3% of market value
Dividend payout ratio
64%
of net income paid out
Sales & admin spending
27.2%
of revenue
Days sales outstanding
27 days
receivables vs revenue

Competitors: side by side with peers

Closest by revenue in personal care products
Last 12 months unless stated PG KVUE EL COTY HLF BRBR Median
Revenue, last 12 months $87.9bn $15.5bn $15.3bn $5.8bn $5.3bn $2.4bn $913m
Revenue growth, last 12 months 3.5% 3.5% 5.8% −1.5% 6.4% 5.9% 3.5%
Revenue growth, 3-year average 1.8% −0.0% −0.5% 1.5% 1.6% 14.4% −0.1%
Revenue growth, latest quarter 4.0% 3.2% 6.7% 1.3% 6.0% 4.2% 2.7%
Gross margin 49.8% 58.3% 76.0% 62.9% 77.6% 28.6% 69.2%
Operating margin 22.6% 17.4% 6.7% −1.4% 9.6% 13.3% 6.7%
Operating margin, 3-year average 22.9% 15.0% 2.7% 3.9% 8.7% 16.1% 5.5%
Net margin 18.2% 10.9% 2.4% −10.4% 3.4% 7.3% 3.4%
Cash from operations / revenue 22.7% 17.6% 12.7% 9.3% 7.5% 9.9% 9.9%
Free-cash-flow margin 17.4% 15.1% 9.9% 6.0% 6.4% 9.6% 9.6%
Free-cash-flow margin, 3-year average 18.0% 11.7% 8.6% 5.6% 4.8% 9.3% 6.0%
Stock pay / revenue 0.6% 0.8% 1.9% 0.8% 0.8% 1.0% 1.0%
Change in share count −1.3% −0.2% 1.2% 0.7% 3.3% −7.9% −0.0%

Median of all 21 companies we cover in personal care products. Shaded: best of the six on that line (lowest for stock pay and share-count growth). 3-year figures average the last three 12-month periods; 3-year growth is compound annual. Source: SEC filings.

Peer comparison

21 personal care products companies
Measure Company Peer median Rank
Revenue growth Growth 3.5% 3.5% 10 of 21
Change in growth rate Growth +0.3pp +0.7pp 12 of 21
Gross margin Profitability 49.8% 69.2% 16 of 21
Operating margin Profitability 22.6% 6.7% 1 of 21
Net margin Profitability 18.2% 3.4% 2 of 21
Free-cash-flow margin Cash generation 17.4% 9.6% 3 of 21
Stock pay as % of revenue Cash generation 0.6% 1.0% 4 of 18
Long-term debt as % of assets Balance sheet 16.4% 29.7% 4 of 13
Change in share count Balance sheet -1.3% -0.0% 8 of 19
Days sales outstanding Balance sheet 27 days 33 days 7 of 14

Rank 1 = best in the group (for spending, debt and dilution, lower ranks first).

Where the revenue comes from

Fiscal year to June 30, 2026
Segments
Line of business Revenue Share YoY
Fabric Home Care $30.3B 35.2% ▲ 2.4%
Baby Feminine Family Care $20.4B 23.7% ▲ 0.8%
Beauty $16B 18.6% ▲ 7.1%
Health Care $12.5B 14.5% ▲ 3.8%
Grooming $6.9B 8.0% ▲ 3.8%
Geography
Region Revenue Share YoY
Outside the US $45.3B 52.1% ▲ 6.1%
United States $41.7B 47.9% ▲ 0.2%

From Procter & Gamble's 10-K filed August 4, 2026, as tagged in the filing. View filing. Indented rows are part of the line above; their share is of that line. In the bars, the faint bar behind is the year before.

Who owns it

Funds buying and selling
Reported value
$240B
Institutions reporting
4,012
Shares held vs prior quarter
▲ 2.1%
Positions opened / closed
135 / 123

Top buyers and sellers, Q2 2026: 1,790 institutions bought and 1,834 sold ; the biggest buyer was Capital World Investors (+8.0M shares) and the biggest seller Jpmorgan Chase & Co (−9.5M). See which funds bought and sold →

Largest reported holders, June 30, 2026
Manager Value Shares Share of 13F value Shares QoQ
Blackrock, Inc. $27.9B 190.0M 11.6% ▲ 1.6%
Vanguard Capital Management LLC $22.3B 152.1M 9.3% ▲ 0.7%
State Street Corp $15B 102.2M 6.3% ▲ 1.0%
Geode Capital Management, LLC $9.7B 66.5M 4.1% ▲ 3.2%
Vanguard Portfolio Management LLC $9.3B 63.4M 3.9% ▲ 0.9%
Charles Schwab Investment Management Inc $6.9B 47.2M 2.9% ▲ 14.2%
Morgan Stanley $6.9B 47.2M 2.9% ▼ 4.2%
Norges Bank $4.7B 31.8M 1.9% —
FMR LLC $4.3B 29.3M 1.8% ▼ 4.6%
Price T Rowe Associates Inc $4.2B 28.9M 1.8% ▼ 9.9%
Franklin Resources Inc $3.9B 26.8M 1.6% ▼ 3.5%
Northern Trust Corp $3.9B 26.8M 1.6% ▼ 1.2%

From Form 13F filings with the SEC ( quarterly data sets), as reported by each manager for June 30, 2026 and filed up to 45 days later. 13F reports cover long US-listed positions of managers above $100M only, so this is not Procter & Gamble's complete shareholder register. Values are as reported by the filers ; 11 inconsistently scaled filing rows were excluded.

Insider trading activity

Full insider history and chart
Insider purchases History → $0 0 trades by 0 insiders, last 12 months Insider sales History → $70.5M 34 trades by 15 insiders · 0% under pre-set plans
Net ▼ $70.5M net selling
Insider Date Trade Shares Price Value
Gama Paul CEO- Health Care October 23, 2026 Sell 4,331 $161.27 $698,460
Purushothaman Balaji Chief Human Resources Officer October 23, 2026 Sell 4,181 $160.71 $671,929
Jejurikar Shailesh Chairman, President and CEO October 23, 2026 Sell 35,000 $163.09 $5.7M
Whaley Susan Street Chief Legal Officer & Secy October 5, 2026 Sell 2,369 $145.34 $344,310
Gama Paul CEO- Health Care October 5, 2026 Sell 2,225 $145.34 $323,382
Schulten Andre Chief Financial Officer October 5, 2026 Sell 3,914 $145.34 $568,861
Janzaruk Matthew W. SVP - Chief Accounting Officer August 24, 2026 Sell 359 $145.24 $52,141
Raman Sundar G. CEO-Fabric Home & Habitat Care August 21, 2026 Sell 3,435 $143.02 $491,274
Pritchard Marc S. Chief Brand Officer August 20, 2026 Sell 4,030 $143.79 $579,474
Whaley Susan Street Chief Legal Officer & Secy August 20, 2026 Sell 2,238 $143.79 $321,802
Gama Paul CEO- Health Care August 20, 2026 Sell 3,396 $143.79 $488,311
Jejurikar Shailesh Chairman, President and CEO August 20, 2026 Sell 6,176 $143.79 $888,047

From insiders' Form 4 filings with the SEC. Excludes awards, option exercises and shares withheld for tax. "Pre-set plan" means the filing marks the trade as made under a Rule 10b5-1 plan. See every insider trade since five years ago, on a price chart.

Trades by members of Congress

All 214 trades and filings

In the last 12 months, 11 members of Congress disclosed 13 purchases and 13 sales of Procter & Gamble shares.

  • David J. Taylor(R-OH 2):Sale (full), $1,001 - $15,000, traded October 12, 2026, filed October 15, 2026
  • Pete Sessions(R-TX 17):Sale (full), $1,001 - $15,000, traded October 8, 2026, filed October 27, 2026
  • David J. Taylor(R-OH 2):Purchase, $1,001 - $15,000, traded September 8, 2026, filed September 17, 2026

Value ranges as filed; reports can arrive up to 45 days after a trade.

Earnings dates and SEC filings

Results announcements

Next expected around January 21, 2027 estimated from the company's past filing pattern, not announced

  • October 22, 2026
  • July 29, 2026
  • April 24, 2026
  • January 22, 2026
  • October 24, 2025
  • July 29, 2025

Recent SEC filings

Data status

When each part of this page on Procter & Gamble was last updated.

DataLast updatedSource
Share priceExchange closing prices
Financial statementsSEC 10-K and 10-Q filings
News and updatesCompany releases and SEC 8-K filings
Analyst estimatesAggregated analyst estimates
Valuation and scoresOur models, from the filed figures

How we build and check these figures: methodology and data sources.

Procter & Gamble in brief

What does Procter & Gamble do?
Procter & Gamble is a US-listed company in the personal care products industry. Its financial year ends in June.
What is Procter & Gamble's stock ticker?
Procter & Gamble trades under the ticker PG on NYSE. This page brings together its financial statements, valuation models, ownership and recent company updates.
What is Procter & Gamble's revenue, and how fast is it growing?
Over its most recent trailing twelve months, Procter & Gamble reported revenue of $87.9B, 3.5% higher than a year earlier, according to its SEC filings.
What is Procter & Gamble's free cash flow?
Procter & Gamble's free-cash-flow margin is 17.4% of revenue over the trailing twelve months, ranking 3 of the 21 personal care products companies we cover.
What is Procter & Gamble's fair value (intrinsic value) per share?
Our discounted-cash-flow model of Procter & Gamble's free cash flow after stock-based pay gives ~$100 per share in the base case, and ~$75–$140 across growth scenarios. These are model values under stated assumptions — not a price target or a recommendation.
Who are Procter & Gamble's largest institutional shareholders?
By value reported in 13F filings for June 30, 2026, the largest reported holders are Blackrock, Inc., Vanguard Capital Management LLC and State Street Corp. 13F reports cover long US-listed positions of managers above $100M, filed up to 45 days after quarter end.
Is Procter & Gamble buying back stock, and does it pay a dividend?
Procter & Gamble spent $5B on share repurchases over the trailing twelve months, and its diluted share count fell 1.3% over the year.
What is Procter & Gamble's market cap?
On November 2, 2026, Procter & Gamble's market capitalisation was about $395B, with a price-to-earnings ratio of 24.6 and net debt of $23.6B. Market figures come from third-party market data and may be delayed.
Does Procter & Gamble pay a dividend?
Yes: Procter & Gamble paid $10.3B in dividends over the trailing twelve months, a dividend yield of 2.61% and a payout ratio of 64.2%.
How much debt does Procter & Gamble have?
Procter & Gamble's debt-to-equity ratio is 70.3%, from its latest balance sheet (52.0% five years earlier). The financial health section below sets out its other solvency checks.
Who are Procter & Gamble's competitors?
In our Personal Care Products peer group, the companies closest to Procter & Gamble are Kenvue, The Estée Lauder Companies, Coty Inc., Herbalife LTD. and Bellring Brands, Inc. The side-by-side comparison below sets their revenue, margins and growth against Procter & Gamble's.
Are insiders buying or selling Procter & Gamble stock?
Over the last 12 months, Procter & Gamble's directors and officers reported 0 open-market purchases and 34 sales on Form 4. The insider trading page charts every trade.
When is Procter & Gamble's next earnings date?
Around January 21, 2027, estimated from the spacing of its past results announcements (8-K filings). That is an estimate, not a confirmed date — Procter & Gamble announces its own schedule.