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The Procter & Gamble Company (PG)

NYSE / Consumer Defensive / Household & Personal Products

Share price

157.06 USD Market dataClose of Oct 15, 2026

Market capitalisation

364.80B USD Market dataClose of Oct 15, 2026
Market data
Oct 15, 2026
Filed accounts
FY2026, filed Aug 4, 2026
Ratios computed
Oct 15, 2026
Filed years
11, FY2016 to FY2026
Four kinds of sourceSEC filingCompany statementMarket dataComputedWhat each means
SEC filingFiled with the SEC
Read from a statement the company filed with the SEC, with the form, fiscal year, filing date and accession beside it.
Company statementCompany statement
What the company says about itself in a filing: an 8-K item, the auditor, its own segment names.
Market dataMarket data
Prices, market value and what analysts publish, with the date they are as of.
ComputedComputed by ValueScreener
Worked out by us from the other three, with the inputs and the formula one press away. A score is a research output, not a rating or a recommendation.
Reading

1 of 10

Overview

What the business is, what it costs, and how it reads on four questions.

Market dataSEC filingComputed

Four questions, at a glance

Quality

Return on invested capital, after tax

19.8% Computed

From the FY2026 filing

Read quality

Valuation

Price to earnings

23.27x Computed

FY2026 accounts, priced at the latest close

Read valuation

Cash generation

Free cash flow yield

4.0% Computed

FY2026 accounts, priced at the latest close

Read cash generation

Revenue and net income, as filed

FY2017 Revenue: 65.06B USDFY2017 Net income: 15.33B USDFY2018 Revenue: 66.83B USDFY2018 Net income: 9.75B USDFY2019 Revenue: 67.68B USDFY2019 Net income: 3.90B USDFY2020 Revenue: 70.95B USDFY2020 Net income: 13.03B USDFY2021 Revenue: 76.12B USDFY2021 Net income: 14.31B USDFY2022 Revenue: 80.19B USDFY2022 Net income: 14.74B USDFY2023 Revenue: 82.01B USDFY2023 Net income: 14.65B USDFY2024 Revenue: 84.04B USDFY2024 Net income: 14.88B USDFY2025 Revenue: 84.28B USDFY2025 Net income: 15.97B USDFY2026 Revenue: 87.03B USDFY2026 Net income: 16.05B USD
Revenue Net income10 filed fiscal years, from the annual reports; the table in Filings names each document.
Named tests met
4 of 30 Which tests
The business, and the score behind its five axes

The reading, in brief

Is it cheap

Price to earnings is 23.27x at the close of 2026-10-15 on FY2026 figures; the lines are 15.00x (Graham's defensive ceiling) and, by market convention, 10.00x, 25.00x and 40.00x, and this sits between 15.00x and 25.00x.

Today, against the Consumer Defensive sector (135 companies), 23.27x sits at the 59th percentile; the middle half of that group runs from 13.84x to 33.63x.

Is it good

Return on invested capital was 19.8% in FY2026, in the band labelled "Above the cost of capital" (12.0% to 20.0%), on lines anchored on Damodaran's cost-of-capital data.

Today, against the Consumer Defensive sector (102 companies), 19.8% sits at the 89th percentile; the middle half of that group runs from 2.7% to 14.1%.

Is it safe

Interest coverage was 22.52x in FY2026, in the band labelled "Comfortable" (6.00x and above), on lines anchored on Damodaran's interest-coverage table, suggesting an interest bill operating profit covers many times over.

Year by year against peers
Whether The Procter & Gamble Company's return on invested capital stayed above the median of the Consumer Defensive sector, year by year. (FY2022 to FY2025, 4 fiscal years of The Procter & Gamble Company with a comparable figure)
The direction
Which way The Procter & Gamble Company's return on equity has moved, and how steadily. (FY2017 to FY2026, 10 filed years of The Procter & Gamble Company)
What could explain it
What in The Procter & Gamble Company's filed statements could explain the movements. (4 readings drawn from the statement lines The Procter & Gamble Company filed)
What to check next
What to check next on The Procter & Gamble Company, and where in its filings. (3 questions for The Procter & Gamble Company)
In one paragraph
One paragraph on The Procter & Gamble Company's returns, cash, balance sheet and price. (16 of sixteen figures read for The Procter & Gamble Company)

These are PG’s filed figures. The research desk says what they mean, against peers and its own years, with what to check next.

Research PGPart of Serious. New accounts start with 30 days of Professional, free, no card.

2 of 10

What changed

The newest filing, what it moved, and when the next one is due.

SEC filingCompany statement

The newest accounts on file are the FY2026 annual report: 10-K, filed Aug 4, 2026, accession 0000080424-26-000103.

3 of 10

Quality

The returns the business earns on its capital, and the margins behind them.

SEC filingComputed

The Procter & Gamble Company: returns on capital and margins, each with its source
FigureValue, source and document
Return on invested capital, after tax19.8% ComputedFY2026 10-K, filed Aug 4, 2026, 0000080424-26-000103
Return on equity29.7% ComputedFY2026 10-K, filed Aug 4, 2026, 0000080424-26-000103
Return on capital employed, pre-tax22.5% ComputedFY2026 10-K, filed Aug 4, 2026, 0000080424-26-000103
Return on assets12.7% ComputedFY2026 10-K, filed Aug 4, 2026, 0000080424-26-000103
Gross margin50.2% ComputedFY2026 10-K, filed Aug 4, 2026, 0000080424-26-000103
Operating margin22.7% ComputedFY2026 10-K, filed Aug 4, 2026, 0000080424-26-000103
Net margin18.4% ComputedFY2026 10-K, filed Aug 4, 2026, 0000080424-26-000103
PG 18.4%
PM 27.9%WMT 3.1%COST 3.0%KO 27.3%
3.0%27.9%
Net margin: PG against the 4 companies named under Valuation context, each as filed for its own latest year. Placement only: no average is drawn.

4 of 10

Financial strength

What it owes against what it owns, and whether it can meet what falls due.

SEC filingComputedCompany statement

The Procter & Gamble Company: leverage, liquidity and distress, each with its source
FigureValue, source and document
Debt to equity0.65 ComputedFY2026 10-K, filed Aug 4, 2026, 0000080424-26-000103
Current ratio0.68 ComputedFY2026 10-K, filed Aug 4, 2026, 0000080424-26-000103
Quick ratio0.47 ComputedFY2026 10-K, filed Aug 4, 2026, 0000080424-26-000103
Interest coverage22.52x ComputedFY2026 10-K, filed Aug 4, 2026, 0000080424-26-000103
Altman Z-score5.75 ComputedClose of Oct 15, 2026 · FY2026 10-K, filed Aug 4, 2026, 0000080424-26-000103
Net debt25.08B ComputedFY2026 10-K, filed Aug 4, 2026, 0000080424-26-000103
Total assets 126.52BTotal liabilities 72.21BShareholders' equity 54.08BOwnsOwes, and equity
Total assets Total liabilities Shareholders’ equity
The balance sheet, line by line

Financial health

What The Procter & Gamble Company owned and owed at the end of fiscal 2026, from the balance sheet it filed (10-K, filed Aug 4, 2026, 0000080424-26-000103).

The Procter & Gamble Company: balance sheet position
Total assets126.52B FiledFY2026 10-K, filed Aug 4, 2026
Total liabilities72.21B FiledFY2026 10-K, filed Aug 4, 2026
Shareholders' equity54.08B FiledFY2026 10-K, filed Aug 4, 2026
Cash9.94B FiledFY2026 10-K, filed Aug 4, 2026
Total debt35.02B FiledFY2026 10-K, filed Aug 4, 2026
Net debt25.08B
Current ratio0.68
Debt to equity0.65

Read from the filed balance sheet for each year, with the income statement of the same year supplying operating profit where a ratio needs it. Nothing here is a view on whether this company is sound.

5 of 10

Valuation context

What the market charges for it, against its own record and companies like it.

Market dataSEC filingComputed

The Procter & Gamble Company: what the market charges, each with its source
FigureValue, source and document
Price to earnings23.27x ComputedClose of Oct 15, 2026 · FY2026 10-K, filed Aug 4, 2026, 0000080424-26-000103
P/E on trailing twelve months23.73x ComputedClose of Oct 15, 2026 · Trailing four quarters, each as known on the day; the quarterly filings are listed under Filings
Price to book7.04x ComputedClose of Oct 15, 2026 · FY2026 10-K, filed Aug 4, 2026, 0000080424-26-000103
Price to sales4.37x ComputedClose of Oct 15, 2026 · FY2026 10-K, filed Aug 4, 2026, 0000080424-26-000103
Enterprise value to EBIT20.54x ComputedClose of Oct 15, 2026 · FY2026 10-K, filed Aug 4, 2026, 0000080424-26-000103
Enterprise value to EBITDA17.70x ComputedClose of Oct 15, 2026 · FY2026 10-K, filed Aug 4, 2026, 0000080424-26-000103
Price to earnings over growth6.70 ComputedClose of Oct 15, 2026 · FY2026 10-K, filed Aug 4, 2026, 0000080424-26-000103
Diluted earnings per share6.62 USD FiledFY2026 10-K, filed Aug 4, 2026, 0000080424-26-000103
Graham number58.23 USD ComputedFY2026 10-K, filed Aug 4, 2026, 0000080424-26-000103

We publish no fair value or price target of our own. Value PG on your own assumptions in the DCF workbench, starting from the filed figures.

Its own record, and companies like it

Valuation

What the market charges for The Procter & Gamble Company today, and the multiples it has carried. No value of ours: the figures are the filings’ and the market’s.

The Procter & Gamble Company: valuation
Share price157.06 USD
Market capitalisation364.80B USD
Enterprise value to EBITDA17.70x
Graham number58.23 USD
Diluted earnings per share, FY20266.62 USD

Price to earnings on trailing twelve months, a different basis from the fiscal-year P/E above, since Aug 7, 2017: low 15.12x, median 25.44x, high 87.11x, latest 23.73x. 2,311 trading days with a meaningful ratio. Each close over the trailing twelve months of earnings as known that day: a quarter counts from the day it was filed.

Companies like The Procter & Gamble Company

  1. Philip Morris International Inc. (PM)Market cap 311.60B USD
  2. Walmart Inc. (WMT)Market cap 938.00B USD
  3. Costco Wholesale Corporation (COST)Market cap 433.40B USD
  4. The Coca-Cola Company (KO)Market cap 395.80B USD

Same sector (Consumer Defensive) and size band (Mega, 200B and over), nearest in market value, net margin and current ratio. Each of those counts equally, by how many of the companies considered sit between the two on it. Closest first: the order is likeness and nothing else.

6 of 10

Cash generation

Whether profit arrives as cash, and what is paid back to shareholders.

SEC filingComputed

The Procter & Gamble Company: cash generation and what is paid out, each with its source
FigureValue, source and document
Free cash flow yield4.0% ComputedClose of Oct 15, 2026 · FY2026 10-K, filed Aug 4, 2026, 0000080424-26-000103
Free cash flow15.15B USD ComputedFY2026 10-K, filed Aug 4, 2026, 0000080424-26-000103
Free cash flow margin17.4% ComputedFY2026 10-K, filed Aug 4, 2026, 0000080424-26-000103
Dividend yield2.7% ComputedClose of Oct 15, 2026 · FY2026 10-K, filed Aug 4, 2026, 0000080424-26-000103
Payout ratio62.0% ComputedFY2026 10-K, filed Aug 4, 2026, 0000080424-26-000103
FY2017 Free cash flow: 9.37B USDFY2017 Net income: 15.33B USDFY2018 Free cash flow: 11.15B USDFY2018 Net income: 9.75B USDFY2019 Free cash flow: 11.89B USDFY2019 Net income: 3.90B USDFY2020 Free cash flow: 14.33B USDFY2020 Net income: 13.03B USDFY2021 Free cash flow: 15.58B USDFY2021 Net income: 14.31B USDFY2022 Free cash flow: 13.57B USDFY2022 Net income: 14.74B USDFY2023 Free cash flow: 13.79B USDFY2023 Net income: 14.65B USDFY2024 Free cash flow: 16.52B USDFY2024 Net income: 14.88B USDFY2025 Free cash flow: 14.04B USDFY2025 Net income: 15.97B USDFY2026 Free cash flow: 15.15B USDFY2026 Net income: 16.05B USD
Free cash flow Net incomeProfit that arrives as cash stands level with net income; a gap year after year is worth reading about.

7 of 10

Filings

Every figure, the year it is for and the document it was read from.

SEC filingMarket data

The filed figures

Computed from the accounts this company filed with the SEC and, in a ratio with a price in it, the last close, dated on this page. Every filed figure below carries the fiscal year and the filing date its accounts were read from, and every blank carries the reason it is blank. Nothing here is a view on this company.

The Procter & Gamble Company: the eight ratios, with the fiscal year and filing date behind each.
FigureValueYearAs of
23.27xFY2026Oct 15, 2026
7.04xFY2026Oct 15, 2026
20.54xFY2026Oct 15, 2026
4.0%FY2026Oct 15, 2026
19.8%FY2026Aug 4, 2026
2.7%FY2026Oct 15, 2026
0.65FY2026Aug 4, 2026
0.68FY2026Aug 4, 2026
4.37xFY2026Oct 15, 2026
6.70FY2026Oct 15, 2026
5.75FY2026Oct 15, 2026
-2.70FY2026Aug 4, 2026
6/9FY2026Aug 4, 2026

The figures are computed from the accounts for fiscal 2026, the newest full year on file. 11 filed fiscal years on record, FY2016 to FY2026, from SEC EDGAR. Prices as of Oct 15, 2026. Ratios recomputed Oct 15, 2026. Two facts, because a recompute is not a fresh quote.

The year and the filing date name the statement each figure’s accounts are read from, and they stand even where the figure itself could not be computed: the line beneath a blank says what that statement did not carry. A figure’s name opens its formula and the filings behind it; a statement that names no SEC filing has no filing date, and reads n/a.

Ten years of filed figures, year by year

Ten years of filed figures

10 filed fiscal years, FY2017 to FY2026, read from the annual reports The Procter & Gamble Company filed with the SEC. Each year names its filing. Amounts in USD, as filed.

The Procter & Gamble Company: revenue, earnings, free cash flow and returns, by fiscal year, with the filing each year was read from
YearRevenueOperating incomeNet incomeEPS, dilutedFree cash flowOperating marginReturn on equityFiling
FY202687.03B19.75B16.05B6.6215.15B22.7%29.7%10-K, Aug 4, 20260000080424-26-000103
FY202584.28B20.45B15.97B6.5114.04B24.3%30.7%10-K, Aug 4, 20250000080424-25-000076
FY202484.04B18.55B14.88B6.0216.52B22.1%29.6%10-K, Aug 5, 20240000080424-24-000083
FY202382.01B18.13B14.65B5.9013.79B22.1%31.3%10-K, Aug 4, 20230000080424-23-000073
FY202280.19B17.81B14.74B5.8113.57B22.2%31.6%10-K, Aug 5, 20220000080424-22-000064
FY202176.12B17.99B14.31B5.5015.58B23.6%30.9%10-K, Aug 6, 20210000080424-21-000100
FY202070.95B15.71B13.03B4.9614.33B22.1%28.0%10-K, Aug 6, 20200000080424-20-000053
FY201967.68B5.49B3.90B1.4311.89B8.1%8.3%10-K, Aug 6, 20190000080424-19-000050
FY201866.83B13.36B9.75B3.6711.15B20.0%18.6%10-K, Aug 7, 20180000080424-18-000055
FY201765.06B13.77B15.33B5.599.37B21.2%27.8%10-K, Aug 7, 20170000080424-17-000047
  • Revenue, compound annual growth FY2017 to FY2026: 3.3%
  • Earnings, compound annual growth FY2017 to FY2026: 0.5%
  • Earnings per share, compound annual growth FY2017 to FY2026: 1.9%
  • Free cash flow, compound annual growth FY2017 to FY2026: 5.5%

Every figure in this section is a line of a filed annual statement or a ratio of two of them. Nothing here is estimated or smoothed. Earnings per share filed before a share split are put on today's share count, and say so. Nothing here is a verdict on the company.

8 of 10

Risks and guardrails

The accounting screens, the published tests, and the lines you can set to be told.

ComputedCompany statement

The Procter & Gamble Company: accounting screens and published tests, each with its source
FigureValue, source and document
Beneish M-score-2.70 ComputedFY2026 10-K, filed Aug 4, 2026, 0000080424-26-000103
Piotroski F-score6/9 ComputedFY2026 10-K, filed Aug 4, 2026, 0000080424-26-000103
Named tests met4 of 30 Computed
Beta0.23 ComputedClose of Oct 15, 2026

The named tests

Of 30 tests value investors published: 4 met, 26 not met, 0 we could not complete. Counts, never a score: a single figure would have to decide that meeting one investor’s criteria and meeting another’s are worth the same.

Which tests, by name(all 30)
Meets
ROIC at or above WACC; Near the 52-week low; High return on tangibles; Cash-covered dividend
Does not
Defensive investor (Benjamin Graham); Deep value; Large cap, low P/E; Earnings yield and ROIC (Joel Greenblatt); High F-score, low P/B (Joseph Piotroski); Three forensic scores; Low PEG, low debt (Peter Lynch); High returns and growth; Gross margin, turnover (Robert Novy-Marx); EV/EBITDA and coverage; High yield, low payout; Dividends and buybacks; Low beta, profitable; Z-score and coverage (Edward Altman); Two thirds of NCAV (Benjamin Graham); P/E times P/B (Benjamin Graham); High returns, low debt; Owner earnings yield; Low P/S, rising earnings (James O'Shaughnessy); Book or below, low debt (Walter Schloss); Tangible book or below; Cash-flow yield and ROIC; Clean books, high ROIC; Cheapest quarter on P/E (David Dreman); Cheapest quarter on P/B (David Dreman); Low P/E, growth, yield (John Neff)
Figures we could not read(1)
  • Price Tangible Book: We do not hold this figure for this company, so there is nothing to show.

9 of 10

Declared positions

Whether anybody here owns this company.

Positions declared by the founder: no holding in any company shown here, as of October 3, 2026.

10 of 10

Next step

What to do with what you have read.

A thesis is your reason for owning it, in your words, with the figures that must stay true. Checking those figures every night against the newest filed accounts, and telling you once when one breaks, is what the subscription adds.

More on this company

What this cannot tell you

  • One figure could not be read on this company: Price Tangible Book.

And the one that is true of all of it: This is what the numbers say today. It cannot tell you the day one of them stops being true. Nothing here can, because the reasons are not written down.

Running this once is arithmetic on public documents and you are welcome to it. Writing down why you own each company, in your own words and with the numbers that have to stay true for it to hold, and then having those numbers re-checked every night against the newest filed accounts, and against the latest close where a rule watches a price, is Professional, the plan a new account starts on for 30 days, one trial per person. It writes to you the day one breaks, and stays quiet when nothing does. The check runs every night at 23:30 UTC. A filing is picked up the night after it is published.

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ValueScreener · valuescreener.ai · Computed from accounts filed with the SEC by this company, read from EDGAR, and from dated closing prices. On this page a filed figure opens into its formula, its inputs and the statement, fiscal year and filing date it was read from, and a price into the day of its close. A figure that cannot show that trail says so.

A computation on accounts filed with the SEC, not a recommendation and not advice. Past filings do not indicate future results. Risk disclaimer.

Once a week, what changed in the filings of US-listed companies, why it can matter to a thesis, and what deserves a closer review. Grounded in filings, not market noise.

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