PROCTER & GAMBLE Co financial statements

Income statement, balance sheet and cash flow statement for the last 10 fiscal years, taken from the XBRL data PROCTER & GAMBLE Co files with the SEC in its annual reports.

In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.

Income statement

	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025	FY2026
Revenue	65,058	66,832	67,684	70,950	76,118	80,187	82,006	84,039	84,284	87,032
Cost of revenue	32,638	34,432	34,768	35,250	37,108	42,157	42,760	40,848	41,164	43,362
Gross profit	32,420	32,400	32,916	35,700	39,010	38,030	39,246	43,191	43,120	43,670
Research and development	1,900	1,900	1,900	1,800	1,900	2,000	2,000	2,000	2,100	2,100
Selling, general and administrative	18,654	19,037	19,084	19,994	21,024	20,217	21,112	23,305	22,669	23,922
Operating income	13,766	13,363	5,487	15,706	17,986	17,813	18,134	18,545	20,451	19,748
Interest expense	465	506	509	465	502	439	756	925	907	877
Interest income	171	247	220	155	45	51	307	473	469	430
Other non-operating income	-215	222	871	438	86	570	668	668	154	1,076
Pre-tax income	9,031	9,277	1,659			17,995	18,353	18,761	20,167	20,377
Income tax	3,063	3,465	2,103	2,731	3,263	3,202	3,615	3,787	4,102	4,233
Net income to minority interests	85	111	69	76	46	51	85	95	91	98
Net income	15,326	9,750	3,897	13,027	14,306	14,742	14,653	14,879	15,974	16,046
EBITDA	16,586	16,197	8,311	18,719	20,721	20,620	20,848	21,441	23,298	22,908
EPS, basic	5.80	3.75	1.45	5.13	5.69	6.00	6.07	6.18	6.67	6.75
EPS, diluted	5.59	3.67	1.43	4.96	5.50	5.81	5.90	6.02	6.51	6.62
Shares, basic (weighted)	2,598	2,529	2,504	2,487	2,466	2,410	2,368	2,360	2,350	2,334
Shares, diluted (weighted)	2,740	2,657	2,540	2,626	2,601	2,539	2,484	2,472	2,454	2,423
Dividend per share	3.00	2.79	2.90	3.03	3.24	3.52	3.68	3.83	4.08	4.26

Balance sheet

	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025	FY2026
Cash and equivalents	5,569	2,569	4,239	16,181	10,288	7,214	8,246	9,482	9,556	9,942
Receivables	4,594	4,686	4,951	4,178	4,725	5,143	5,471	6,118	6,185	6,056
Inventory	4,624	4,738	5,017	5,498	5,983	6,924	7,073	7,016	7,551	8,170
Other current assets	2,139	2,046	2,218	2,130	2,095	2,372	1,858	2,095	2,100	2,040
Total current assets	26,494	23,320	22,473	27,987	23,091	21,653	22,648	24,709	25,392	26,208
Property, plant and equipment	19,893	20,600	21,271	20,692	21,686	21,195	21,909	22,152	23,897	25,360
Lease right-of-use assets						760	781	875	925	846
Goodwill	44,699	45,175	40,273	39,901	40,924	39,700	40,659	40,303	41,650	41,276
Intangible assets	24,187	23,902	24,215	23,792	23,642	23,679	23,783	22,047	21,910	21,444
Other non-current assets	5,133	5,313	6,863	8,328	9,964	10,981	11,830	13,158	12,381	12,231
Total assets	120,406	118,310	115,095	120,700	119,307	117,208	120,829	122,370	125,231	126,521
Accounts payable	9,632	10,344	11,260	12,071	13,720	14,882	14,598	15,364	15,227	16,306
Accrued liabilities	7,024	7,470	9,054	9,722	10,523	9,554	10,929	11,073	11,318	11,091
Short-term debt	13,554	10,423	9,697	11,183	8,889	8,645	10,229	7,191	9,513	11,296
Total current liabilities	30,210	28,237	30,011	32,976	33,132	33,081	35,756	33,627	36,058	38,694
Long-term debt	18,038	20,863	20,395	23,537	23,099	22,848	24,378	25,269	24,995	22,842
Lease liabilities				652	631	595	595	666	701	641
Other non-current liabilities	8,254	10,164	10,211	11,110	10,269	7,616	7,152	6,398	6,120	4,914
Total liabilities	64,628	65,427	67,516	73,822	72,653	70,354	73,764	71,811	72,946	72,210
Total debt	19,714	22,635	23,783	26,045	26,719	26,495	28,329	29,107	30,372	29,299
Paid-in capital	63,641	63,846	63,827	64,194	64,848	65,795	66,556	67,684	68,770	69,533
Retained earnings	96,124	98,641	94,918	100,239	106,374	112,429	118,170	123,811	129,973	135,852
Treasury stock	-93,715	-99,217	-100,406	-105,573	-114,973	-123,382	-129,736	-133,379	-138,702	-143,008
Other comprehensive income	-14,632	-14,749	-14,936	-16,165	-13,744	-12,189	-12,220	-11,900	-12,143	-12,465
Minority interests	594	590	385	357	276	265	288	272	272	230
Total equity	55,778	52,883	47,579	46,878	46,654	46,854	47,065	50,559	52,284	54,311
Total liabilities and equity	120,406	118,310	115,095	120,700	119,307	117,208	120,829	122,370	125,231	126,521

Cash flow statement

	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025	FY2026
Net income	15,411	9,861	3,966	13,103	14,352	14,793	14,738	14,974	16,065	16,144
Depreciation and amortization	2,820	2,834	2,824	3,013	2,735	2,807	2,714	2,896	2,847	3,160
Stock-based compensation	351	395	515	558	540	528	545	562	476	524
Deferred income tax	-601	-1,844	-411	-596	-258	-402	-453	-244	149	51
Change in receivables	-322	-177	-276	634	-342	-694	-307	-766	45	84
Change in inventory	71	-188	-239	-637	-309	-1,247	-119	-70	-324	-641
Change in payables	-149	1,385	1,856	1,923	1,391	1,429	-447	878	-542	919
Cash from operations	12,753	14,867	15,242	17,403	18,371	16,723	16,848	19,846	17,817	19,556
Capital expenditures	-3,384	-3,717	-3,347	-3,073	-2,787	-3,156	-3,062	-3,322	-3,773	-4,409
Acquisitions	-16	-109	-3,945	-58	-34	-1,381	-765	-21	-11	-85
Purchases of investments	-4,843	-3,909	-158	0	-55	0
Cash from investing	-6,685	-3,511	-3,490	3,045	-2,834	-4,424	-3,500	-3,504	-3,818	-4,624
Debt issued	3,603	5,072	2,367	4,951	4,417	4,385	3,997	3,197	2,237	2,652
Debt repaid	-4,931	-2,873	-969	-2,447	-4,987	-2,343	-1,878	-2,335	-1,977	-3,390
Stock issued	2,630	1,245	3,381	2,019	1,705	1,930	1,189	1,888	1,693	920
Share buybacks	-5,204	-7,004	-5,003	-7,405	-11,009	-10,003	-7,353	-5,006	-6,500	-5,028
Dividends paid	-7,236	-7,310	-7,498	-7,789	-8,263	-8,770	-8,999	-9,312	-9,872	-10,232
Cash from financing	-8,568	-14,375	-9,994	-8,367	-21,531	-14,876	-12,146	-14,855	-14,036	-14,460
Exchange rate effect	-29	19	-88	-139	101	-497	-170	-251	112	-86
Net change in cash	-2,529	-3,000	1,670	11,942	-5,893	-3,074	1,032	1,235	75	386
Free cash flow	9,369	11,150	11,895	14,330	15,584	13,567	13,786	16,524	14,044	15,147
Interest paid	518	529	497	434	531	451	721	878	896	866
Income taxes paid	3,714	2,830	3,064	3,550	3,822	3,818	4,278	4,363	4,554	4,678

Key metrics

Worked out from the statements above. Latest values use fiscal 2026. Valuation uses the share price of $146.23 on September 25, 2026.

Profitability

Metric	Value	How it is calculated
Gross margin	50.2%	Gross profit / revenue.
Operating margin	22.7%	Operating income / revenue.
EBITDA margin	26.3%	EBITDA (operating income + depreciation and amortization) / revenue.
Pre-tax margin	23.4%	Pre-tax income / revenue.
Net margin	18.4%	Net income / revenue.
FCF margin	17.4%	Free cash flow (cash from operations - capital expenditures) / revenue.
Operating cash flow margin	22.5%	Cash from operations / revenue.
Effective tax rate	20.8%	Income tax / pre-tax income, when pre-tax income is positive.
Return on assets (ROA)	12.7%	Net income / average total assets.
R&D / revenue	2.4%	Research and development expense / revenue.
SG&A / revenue	27.5%	Selling, general and administrative expense / revenue.
Stock-based pay / revenue	0.6%	Stock-based compensation (from the cash flow statement) / revenue.
Capex / revenue	5.1%	Capital expenditures / revenue.
D&A / revenue	3.6%	Depreciation and amortization / revenue.

Growth

Metric	Value	How it is calculated
Revenue growth, 1y	3.3%	Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y	2.0%	Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y	2.7%	Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Gross profit growth, 1y	1.3%	Gross profit vs the same period a year earlier. Only from a positive base.
Gross profit CAGR, 3y	3.6%	Compound annual growth of gross profit over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Gross profit CAGR, 5y	2.3%	Compound annual growth of gross profit over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating income growth, 1y	-3.4%	Operating income vs the same period a year earlier. Only from a positive base.
Operating income CAGR, 3y	2.9%	Compound annual growth of operating income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating income CAGR, 5y	1.9%	Compound annual growth of operating income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
EBITDA growth, 1y	-1.7%	EBITDA vs the same period a year earlier. Only from a positive base.
EBITDA CAGR, 3y	3.2%	Compound annual growth of ebitda over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EBITDA CAGR, 5y	2.0%	Compound annual growth of ebitda over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Net income growth, 1y	0.5%	Net income vs the same period a year earlier. Only from a positive base.
Net income CAGR, 3y	3.1%	Compound annual growth of net income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Net income CAGR, 5y	2.3%	Compound annual growth of net income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
EPS growth, 1y	1.7%	EPS vs the same period a year earlier. Only from a positive base.
EPS CAGR, 3y	3.9%	Compound annual growth of eps over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EPS CAGR, 5y	3.8%	Compound annual growth of eps over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating cash flow growth, 1y	9.8%	Operating cash flow vs the same period a year earlier. Only from a positive base.
Operating cash flow CAGR, 3y	5.1%	Compound annual growth of operating cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating cash flow CAGR, 5y	1.3%	Compound annual growth of operating cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Free cash flow growth, 1y	7.9%	Free cash flow vs the same period a year earlier. Only from a positive base.
Free cash flow CAGR, 3y	3.2%	Compound annual growth of free cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Free cash flow CAGR, 5y	-0.6%	Compound annual growth of free cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Dividend per share growth, 1y	4.5%	Dividend per share vs the same period a year earlier. Only from a positive base.
Dividend per share CAGR, 3y	5.0%	Compound annual growth of dividend per share over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Dividend per share CAGR, 5y	5.6%	Compound annual growth of dividend per share over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Total assets growth, 1y	1.0%	Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y	1.5%	Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets CAGR, 5y	1.2%	Compound annual growth of total assets over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Share count change, 1y	-1.3%	Change in diluted weighted shares vs a year earlier. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 3y	-0.8%	Change in diluted weighted shares, per year over 3 years. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 5y	-1.4%	Change in diluted weighted shares, per year over 5 years. Negative means buybacks shrank the share count; positive means dilution.

Balance sheet health

Metric	Value	How it is calculated
Current ratio	0.68x	Current assets / current liabilities.
Quick ratio	0.41x	(Cash + short-term investments + receivables) / current liabilities.
Cash ratio	0.26x	(Cash + short-term investments) / current liabilities.
Debt / assets	23.2%	Total debt / total assets.
Liabilities / assets	57.1%	Total liabilities / total assets.
Net debt	$19.36B	Total debt - cash - short-term investments. Negative means more cash than debt.
Net debt / EBITDA	0.84x	Net debt / EBITDA (twelve months), when EBITDA is positive.
Interest coverage	22.5x	Operating income / interest expense.
Working capital	-$12.49B	Current assets - current liabilities.
Goodwill and intangibles / assets	49.6%	(Goodwill + intangible assets) / total assets.

Efficiency

Metric	Value	How it is calculated
Asset turnover	0.69x	Revenue / average total assets.
Fixed asset turnover	3.53x	Revenue / average property, plant and equipment.
Inventory turnover	5.52x	Cost of revenue / average inventory.
Days inventory	66 days	365 x average inventory / cost of revenue.
Receivables turnover	14.2x	Revenue / average receivables.
Days sales outstanding	26 days	365 x average receivables / revenue.
Days payables	133 days	365 x average accounts payable / cost of revenue.
Cash conversion cycle	-41 days	Days inventory + days sales outstanding - days payables.
FCF conversion	94.4%	Free cash flow / net income, when net income is positive.
Capex / operating cash flow	22.5%	Capital expenditures / cash from operations, when that is positive.

Per share

Metric	Value	How it is calculated
EPS, diluted	$6.62	Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS.
EPS, basic	$6.75	Net income per basic share, as reported (split-adjusted).
Revenue per share	$35.93	Revenue / diluted weighted shares.
FCF per share	$6.25	Free cash flow / diluted weighted shares.
Operating cash flow per share	$8.07	Cash from operations / diluted weighted shares.
Cash per share	$4.10	(Cash + short-term investments) / shares outstanding.
Dividend per share	$4.26	Dividend declared per common share (paid, when declared is not tagged).
Payout ratio	63.8%	Dividends paid / net income, when net income is positive.
Dividends / FCF	67.6%	Dividends paid / free cash flow, when free cash flow is positive.
Buybacks / FCF	33.2%	Share buybacks / free cash flow, when free cash flow is positive.

Valuation

Metric	Value	How it is calculated
Market cap	$339.90B	Share price x shares outstanding.
Enterprise value	$359.26B	Market cap + total debt - cash - short-term investments.
P/E	21.2x	Market cap / net income. Only when net income is positive.
P/S	3.91x	Market cap / revenue.
P/FCF	22.4x	Market cap / free cash flow. Only when free cash flow is positive.
P/OCF	17.4x	Market cap / cash from operations, when positive.
EV/Sales	4.13x	Enterprise value / revenue.
EV/EBIT	18.2x	Enterprise value / operating income, when both are positive.
EV/EBITDA	15.7x	Enterprise value / EBITDA, when both are positive.
EV/FCF	23.7x	Enterprise value / free cash flow, when both are positive.
FCF yield	4.5%	Free cash flow / market cap.
Earnings yield	4.7%	Net income / market cap (the inverse of P/E).
Dividend yield	3.0%	Dividends paid over the period / market cap.
Shareholder yield	4.5%	(Dividends paid + share buybacks) / market cap.
PEG	5.41x	P/E / EPS growth per year over 3 years (in percent). Only when both are positive.

What was PROCTER & GAMBLE Co's revenue in fiscal 2026?

PROCTER & GAMBLE Co reported revenue of $87.03B for fiscal 2026, 3.3% higher than the year before.

Was PROCTER & GAMBLE Co profitable in fiscal 2026?

Yes. Net income was $16.05B, a net margin of 18.4%.

How much free cash flow did PROCTER & GAMBLE Co generate in fiscal 2026?

Cash from operations of $19.56B minus capital expenditures of $4.41B left free cash flow of $15.15B.

Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.

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