The Procter & Gamble Company (PG): return on invested capital, 10 filed years
ROIC at The Procter & Gamble Company was 19.8% in FY2026, the newest filed year. Across the 5 computed years from FY2022 it ranged from 19.7% (FY2023) to 20.9% (FY2025), with a median of 20.0%.
Tonight's figure on the company page: 19.8%, recomputed 2026-10-15. The table is each filed year on its own terms, with the formula below; the current figure may use trailing twelve months or, where the explainer says so, a different denominator.
Year by year
| Fiscal year | ROIC | Read from |
|---|---|---|
| FY2017 The filed borrowings do not add up to a total we can stand behind: the filer's own liability subtotals leave room for debt we did not read. | n/a | 10-K, filed 2017-08-07 |
| FY2018 The filed borrowings do not add up to a total we can stand behind: the filer's own liability subtotals leave room for debt we did not read. | n/a | 10-K, filed 2018-08-07 |
| FY2019 The filed borrowings do not add up to a total we can stand behind: the filer's own liability subtotals leave room for debt we did not read. | n/a | 10-K, filed 2019-08-06 |
| FY2020 No tax rate can be read for this year: the income tax or the pre-tax income line is not filed, or pre-tax income is zero, so after-tax operating profit is not computed. | n/a | 10-K, filed 2020-08-06 |
| FY2021 No tax rate can be read for this year: the income tax or the pre-tax income line is not filed, or pre-tax income is zero, so after-tax operating profit is not computed. | n/a | 10-K, filed 2021-08-06 |
| FY2022 | 20.4% | 10-K, filed 2022-08-05 |
| FY2023 | 19.7% | 10-K, filed 2023-08-04 |
| FY2024 | 20.0% | 10-K, filed 2024-08-05 |
| FY2025 | 20.9% | 10-K, filed 2025-08-04 |
| FY2026 | 19.8% | 10-K, filed 2026-08-04 |
How each year is computed
Operating income x (1 - effective tax rate) / (equity + total debt - cash) x 100
Each year is a ratio of lines in that year's filed annual report, with the nightly recompute's own rules for what counts as a filed line. Nothing is estimated, smoothed or filled in: a year that cannot be computed says why.
Read further
A computation on accounts filed with the SEC, not a recommendation and not advice. Past filings do not indicate future results. Risk disclaimer.