What is PROCTER & GAMBLE Co worth?
With the base-case assumptions below, a discounted cash flow model on PROCTER & GAMBLE Co's reported free cash flow gives $90.61 per share. The share price was $146.23 on September 25, 2026, 61% above that value.
Inputs from the filings
Three sets of assumptions
| Case | Growth yrs 1-5 | Discount rate | Value per share | Value vs price |
|---|---|---|---|---|
| Bear | -2.5% | 10.0% | $53.30 | -64% |
| Base | 2.5% | 9.0% | $90.61 | -38% |
| Bull | 7.5% | 8.0% | $163.27 | +12% |
Sensitivity: base case value per share
| 1.5% | 2.0% | 2.5% | 3.0% | 3.5% | |
|---|---|---|---|---|---|
| 7.0% | $116.84 | $124.76 | $134.43 | $146.52 | $162.07 |
| 8.0% | $97.34 | $102.47 | $108.54 | $115.82 | $124.71 |
| 9.0% | $83.05 | $86.56 | $90.61 | $95.33 | $100.92 |
| 10.0% | $72.14 | $74.63 | $77.46 | $80.69 | $84.43 |
| 11.0% | $63.53 | $65.36 | $67.41 | $69.71 | $72.32 |
Where the presets come from
Base: years 1 to 5 grow at PROCTER & GAMBLE Co's revenue growth rate over the last 5 fiscal years (2.7% a year), held between -5% and 15%. Years 6 to 10 grow halfway between that and the long-run rate of 2.5%. Future cash is discounted at 9% a year.
Bear: 5 points less growth, 2% long-run growth, 10% discount rate. Bull: 5 points more growth (at most 25%), 3% long-run growth, 8% discount rate.
Value per share = (present value of 10 years of free cash flow + present value of everything after + cash - debt) / diluted shares.
This is a model run on assumptions, not a recommendation or a price target. Small changes in the discount rate or growth move the result a lot, as the table above shows. Change them yourself in the calculator.
Adjust the assumptions
Move the sliders for growth, long-run growth and discount rate, or switch to average free cash flow, and see the value per share change.
Adjust the assumptions