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Procter & Gamble

PG on NYSE. Procter & Gamble sells consumer goods to people around the world. Market value $339.2bn.

Watch this stockFree. We tell you when something changes.

Price checks use the past 12 months to June 2026. Quality checks use five annual reports, the latest for the year to June 2026.

Should I look at this?

Worth a closer look

Why it could be worth it

What to watch out for

Nothing stood out in the numbers we check.

Read what could go wrong

This is not advice. Check the numbers below.

Compare with another stock

Cash yield
past 12 months to June 2026
4.4%fair

For every $100 of what the whole company costs, it produced $4.39 of spare cash in the past 12 months. A savings account pays about $4.

Price to profit
past 12 months to June 2026
18.7×full

You pay 18.7 years of operating profit for the business. The average large US company costs around 18.

Return on capital
five annual reports to June 2026
19.9%five-year median

Each dollar kept in the business earns 20 cents a year. Above 10 is good.

Quality score: 90 of 100. Price score: 71 of 100. Our list needs 70 on quality and 60 on price.

$148.41 a share, 8% above its 1-year low

Over the past year the price has ranged from $137.62 to $167.25.

Dividend: 3.0% a year

Paid every year for at least 5 years

Prices from Tuesday’s close (6 October).

Five years of cash, in billions

13.6
13.8
16.5
14.0
15.1
20222023202420252026
Revenue
$80.2bn$82.0bn$84.0bn$84.3bn$87.0bn
Operating margin
22.2%22.1%22.1%24.3%22.7%
Debt to equity
0.670.740.640.660.63
Shares outstanding
2.36bn2.36bn2.34bn2.32bn2.32bn

Health checks

  • Free cash flow positive5 of 5 years
  • Accounting looks honest (Beneish)Nothing unusual
  • Financial strength (Piotroski)6 of 8 checks we could run
  • Profit backed by cash (accruals)Yes
  • Debt0.63× equity
  • Revenue growth, five yearsSlow, 2.7% a year
  • Buying back its own sharesRoughly flat

The quarter to June 2026

How the business did, compared with the same quarter a year earlier.

  • Sales: $21.2 billion last quarter, up 2% on a year ago.
  • Profit: $3 billion, down 16% on a year ago.
  • It keeps 23 cents of each $1 of sales as operating profit, down from 24 cents a year earlier.
  • Spare cash over the past 12 months: $15.1 billion, up from $14 billion.
  • Debt is $24.2 billion more than cash, down from $25 billion a year ago.
  • Sales grew on a year ago in each of the last 4 quarters.
Sales by quarter
Sales by quarter
Quarter toAmount
September 2024$21.7bn
December 2024$21.9bn
March 2025$19.8bn
June 2025$20.9bn
September 2025$22.4bn
December 2025$22.2bn
March 2026$21.2bn
June 2026$21.2bn
Profit by quarter
Profit by quarter
Quarter toAmount
September 2024$4.0bn
December 2024$4.6bn
March 2025$3.8bn
June 2025$3.6bn
September 2025$4.8bn
December 2025$4.3bn
March 2026$3.9bn
June 2026$3.0bn

From the company's quarterly reports to the SEC.

Dates

Next results (estimated)
22 October 2026
Last annual report (10-K)
4 August 2026
Next quarterly (estimated, 10-Q)
24 July 2026

Who owns it

24 long-term investors we follow own it, down from 25 last quarter. 4,015 funds in all.

Jun '25
Dec '25
Jun '26

Sold out this quarter

Largest holders overall

From 13F filings for the quarter ended 30 June 2026.

Big holders and activists

1 investor owns more than 5%.

From Schedule 13D and 13G filings: anyone owning more than 5% must file one.

What insiders did

No insider bought shares on the open market in the last 12 months. 15 sold $63m.

  • Schulten Andre
    Chief Financial Officer
    Sold
    Date
    5 October 2026
    Shares
    3,914
    Price
    $145.34
    Value
    $568,861
  • Gama Paul
    CEO- Health Care
    Sold
    Date
    5 October 2026
    Shares
    2,225
    Price
    $145.34
    Value
    $323,382
  • Whaley Susan Street
    Chief Legal Officer & Secy
    Sold
    Date
    5 October 2026
    Shares
    2,369
    Price
    $145.34
    Value
    $344,310
  • Janzaruk Matthew W.
    SVP - Chief Accounting Officer
    Sold
    Date
    24 August 2026
    Shares
    359
    Price
    $145.24
    Value
    $52,141
  • Raman Sundar G.
    CEO-Fabric Home & Habitat Care
    Sold
    Date
    21 August 2026
    Shares
    3,435
    Price
    $143.02
    Value
    $491,274
  • Aguilar Moses Victor Javier
    Chf Rsch, Dev & Innov Officer
    Sold
    Date
    20 August 2026
    Shares
    3,053
    Price
    $143.79
    Value
    $438,991
  • Abd El Hak Hesham
    CEO-Baby and Feminine Care
    Sold
    Date
    20 August 2026
    Shares
    1,936
    Price
    $143.79
    Value
    $278,377
  • Santos de Azevedo Juliana Monteiro
    CEO - Grooming
    Sold
    Date
    20 August 2026
    Shares
    2,368
    Price
    $143.79
    Value
    $340,495
  • Janzaruk Matthew W.
    SVP - Chief Accounting Officer
    Sold
    Date
    20 August 2026
    Shares
    156
    Price
    $143.79
    Value
    $22,431
  • Schulten Andre
    Chief Financial Officer
    Sold
    Date
    20 August 2026
    Shares
    5,402
    Price
    $143.79
    Value
    $776,754

From Form 4 filings: insiders must report trades in their own company's shares within two days.

Warning signs in its filings

Problems the company itself reported to the SEC, in its own words.

None of the warning signs we check for were found.

We look for five warning signs: doubt it can keep going, weak checks on its own accounts, a notice that its past accounts can't be relied on, a change of auditor, and one customer bringing in a big share of sales. We don't check lawsuits, investigations or debt yet.

We checked the auditor's report, internal controls, restatement notices, auditor changes and big customers in the 10-K filed 4 Aug 2026, and no later 8-Ks.

A 10-K is the yearly report every US company files with the SEC. An 8-K is a short notice of a big event.

What could go wrong

Cheap for a reason is the question the numbers cannot answer.

Whether the price already reflects the risks is what the deep dive is for.

The deep dive

Everything above is arithmetic on public filings. The deep dive reads the last ten years of annual reports, the proxy statements, and the earnings calls, then argues the case the way Buffett, Klarman, and Hohn would, and checks every claim against the source.

  • What the business is worth, as a range, and the margin of safety at today’s price
  • Prices to start buying, buy, and buy hard
  • The three things that would make this a mistake
  • Every number footnoted to the filing it came from

It's near its lowest price in a year. The deep dive tells you if that's a bargain or a warning.

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What a finished deep dive looks like

Not advice. Numbers on this page come from SEC filings and are updated each night; prices are updated again after the US market closes. The five-year figures are rounded.