Procter & Gamble (PG)
Market Price (8/7/2026): $146.8 | Market Cap: $341.9 BilInvestor Relations Sector: Consumer Staples | Industry: Personal Care Products
Procter & Gamble (PG)
Market Price (8/7/2026): $146.8Market Cap: $341.9 BilSector: Consumer StaplesIndustry: Personal Care Products
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
Attractive yieldTotal YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 7.7%, Dividend Yield is 3.0%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 3.1% Attractive operating marginsOp Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is 23% Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 22%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 17%, CFO LTM is 20 Bil, FCF LTM is 15 Bil Stock buyback supportStock Buyback 3Y Total is 17 Bil Low stock price volatilityVol 12M is 20% Megatrend and thematic driversMegatrends include E-commerce & Digital Retail, Experience Economy & Premiumization, Sustainable Consumption, Health & Wellness Trends, Show more. | Weak multi-year price returns2Y Excs Rtn is -48%, 3Y Excs Rtn is -67% | Expensive valuation multiplesP/SPrice/Sales ratio is 3.9x Key risksPG key risks include [1] the vulnerability of its uniquely vast global supply chain, Show more. |
| Attractive yieldTotal YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 7.7%, Dividend Yield is 3.0%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 3.1% |
| Attractive operating marginsOp Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is 23% |
| Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 22%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 17%, CFO LTM is 20 Bil, FCF LTM is 15 Bil |
| Stock buyback supportStock Buyback 3Y Total is 17 Bil |
| Low stock price volatilityVol 12M is 20% |
| Megatrend and thematic driversMegatrends include E-commerce & Digital Retail, Experience Economy & Premiumization, Sustainable Consumption, Health & Wellness Trends, Show more. |
| Weak multi-year price returns2Y Excs Rtn is -48%, 3Y Excs Rtn is -67% |
| Expensive valuation multiplesP/SPrice/Sales ratio is 3.9x |
| Key risksPG key risks include [1] the vulnerability of its uniquely vast global supply chain, Show more. |
Qualitative Assessment
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Procter & Gamble (PG) stock has remained largely at the same level since 4/30/2026 because of the following key factors:
1. Procter & Gamble reported mixed results for its fiscal Q4 2026, which ended on June 30, 2026, leading to a balanced market reaction. The company's core earnings per share (EPS) of $1.43 slightly surpassed analyst consensus estimates of $1.41, but net sales of $21.2 billion missed analyst expectations of $21.38 billion by 0.82%. Additionally, diluted EPS decreased by 15% year-over-year, and organic sales were flat for the quarter. These contrasting figures likely prevented a significant upward or downward movement in the stock price.
2. Cautious fiscal year 2027 guidance, primarily due to anticipated cost headwinds, tempered investor enthusiasm. Procter & Gamble projected fiscal 2027 core EPS growth in the range of in-line to three percent (equating to $6.89 to $7.11 per share), which had a midpoint slightly below analysts' average estimate of $7.04. The company also expects all-in and organic sales growth of one to three percent, a deceleration from fiscal 2026. This outlook includes an estimated after-tax headwind of approximately $1 billion from higher raw material, energy, and transportation costs, with Q1 fiscal 2027 EPS expected to be down 5% or more year-over-year due to these factors.
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Procter & Gamble (PG) stock has remained largely at the same level since 4/30/2026 because of the following key factors:
1. Procter & Gamble reported mixed results for its fiscal Q4 2026, which ended on June 30, 2026, leading to a balanced market reaction. The company's core earnings per share (EPS) of $1.43 slightly surpassed analyst consensus estimates of $1.41, but net sales of $21.2 billion missed analyst expectations of $21.38 billion by 0.82%. Additionally, diluted EPS decreased by 15% year-over-year, and organic sales were flat for the quarter. These contrasting figures likely prevented a significant upward or downward movement in the stock price.
2. Cautious fiscal year 2027 guidance, primarily due to anticipated cost headwinds, tempered investor enthusiasm. Procter & Gamble projected fiscal 2027 core EPS growth in the range of in-line to three percent (equating to $6.89 to $7.11 per share), which had a midpoint slightly below analysts' average estimate of $7.04. The company also expects all-in and organic sales growth of one to three percent, a deceleration from fiscal 2026. This outlook includes an estimated after-tax headwind of approximately $1 billion from higher raw material, energy, and transportation costs, with Q1 fiscal 2027 EPS expected to be down 5% or more year-over-year due to these factors.
3. Consistent and substantial shareholder returns provided a floor for the stock, offsetting some of the growth concerns. In fiscal 2026, Procter & Gamble returned over $15 billion to shareholders, comprising $10.2 billion in dividend payments and $5.0 billion in share repurchases. The company also increased its dividend in April 2026, marking its 70th consecutive year of dividend increases. This steady commitment to returning capital likely contributed to the stock's stability during the period.
4. Broader macroeconomic pressures, including persistent inflation and a challenging geopolitical environment, weighed on consumer spending and operational costs. P&G's CEO acknowledged a "very challenging geopolitical and economic environment" for fiscal 2026. The company has faced persistent inflationary pressures and higher commodity and transportation costs, exacerbated by the Middle East conflict, which have impacted margins and forced lower-income consumers to cut back on spending. These external factors, largely outside the company's direct control, contributed to a muted overall stock performance.
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Stock Movement Drivers
Fundamental Drivers
The 0.7% change in PG stock from 4/30/2026 to 8/6/2026 was primarily driven by a 4.3% change in the company's P/E Multiple.| (LTM values as of) | 4302026 | 8062026 | Change |
|---|---|---|---|
| Stock Price ($) | 146.00 | 146.97 | 0.7% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 86,718 | 87,033 | 0.4% |
| Net Income Margin (%) | 19.2% | 18.4% | -3.8% |
| P/E Multiple | 20.5 | 21.3 | 4.3% |
| Shares Outstanding (Mil) | 2,328 | 2,329 | 0.0% |
| Cumulative Contribution | 0.7% |
Market Drivers
4/30/2026 to 8/6/2026| Return | Correlation | |
|---|---|---|
| PG | 0.7% | |
| Market (SPY) | 6.9% | -8.9% |
| Sector (XLP) | 0.9% | 71.2% |
Fundamental Drivers
The -1.7% change in PG stock from 1/31/2026 to 8/6/2026 was primarily driven by a -4.5% change in the company's Net Income Margin (%).| (LTM values as of) | 1312026 | 8062026 | Change |
|---|---|---|---|
| Stock Price ($) | 149.52 | 146.97 | -1.7% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 85,259 | 87,033 | 2.1% |
| Net Income Margin (%) | 19.3% | 18.4% | -4.5% |
| P/E Multiple | 21.2 | 21.3 | 0.5% |
| Shares Outstanding (Mil) | 2,335 | 2,329 | 0.3% |
| Cumulative Contribution | -1.7% |
Market Drivers
1/31/2026 to 8/6/2026| Return | Correlation | |
|---|---|---|
| PG | -1.7% | |
| Market (SPY) | 11.4% | 5.7% |
| Sector (XLP) | 2.5% | 71.6% |
Fundamental Drivers
The 0.5% change in PG stock from 7/31/2025 to 8/6/2026 was primarily driven by a 3.7% change in the company's Total Revenues ($ Mil).| (LTM values as of) | 7312025 | 8062026 | Change |
|---|---|---|---|
| Stock Price ($) | 146.17 | 146.97 | 0.5% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 83,927 | 87,033 | 3.7% |
| Net Income Margin (%) | 18.5% | 18.4% | -0.1% |
| P/E Multiple | 22.1 | 21.3 | -3.7% |
| Shares Outstanding (Mil) | 2,347 | 2,329 | 0.8% |
| Cumulative Contribution | 0.5% |
Market Drivers
7/31/2025 to 8/6/2026| Return | Correlation | |
|---|---|---|
| PG | 0.5% | |
| Market (SPY) | 22.6% | -3.6% |
| Sector (XLP) | 8.9% | 70.5% |
Fundamental Drivers
The 1.8% change in PG stock from 7/31/2023 to 8/6/2026 was primarily driven by a 7.5% change in the company's Total Revenues ($ Mil).| (LTM values as of) | 7312023 | 8062026 | Change |
|---|---|---|---|
| Stock Price ($) | 144.44 | 146.97 | 1.8% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 80,968 | 87,033 | 7.5% |
| Net Income Margin (%) | 17.7% | 18.4% | 4.2% |
| P/E Multiple | 23.8 | 21.3 | -10.3% |
| Shares Outstanding (Mil) | 2,359 | 2,329 | 1.3% |
| Cumulative Contribution | 1.8% |
Market Drivers
7/31/2023 to 8/6/2026| Return | Correlation | |
|---|---|---|
| PG | 1.8% | |
| Market (SPY) | 73.8% | 9.5% |
| Sector (XLP) | 21.1% | 73.2% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| PG Return | 21% | -5% | -1% | 17% | -12% | 5% | 22% |
| Peers Return | 20% | -16% | -8% | 0% | -3% | 10% | -0% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | 13% | 106% |
Monthly Win Rates [3] | |||||||
| PG Win Rate | 67% | 33% | 50% | 75% | 25% | 62% | |
| Peers Win Rate | 58% | 40% | 48% | 60% | 37% | 72% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 50% | |
Max Drawdowns [4] | |||||||
| PG Max Drawdown | -12% | -24% | -11% | -9% | -20% | -16% | |
| Peers Max Drawdown | -12% | -31% | -26% | -23% | -30% | -20% | |
| S&P 500 Max Drawdown | -5% | -25% | -10% | -8% | -19% | -9% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: CL, CHD, PG, KVUE, EL. See PG Returns vs. Peers.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 8/6/2026 (YTD)
How Low Can It Go
| Event | PG | S&P 500 |
|---|---|---|
| 2022 Inflation Shock & Fed Tightening | ||
| % Loss | -22.7% | -24.5% |
| % Gain to Breakeven | 29.3% | 32.4% |
| Time to Breakeven | 291 days | 427 days |
| 2020 COVID-19 Crash | ||
| % Loss | -22.1% | -33.7% |
| % Gain to Breakeven | 28.4% | 50.9% |
| Time to Breakeven | 113 days | 140 days |
| 2014-2016 Oil Price Collapse | ||
| % Loss | -15.5% | -6.8% |
| % Gain to Breakeven | 18.4% | 7.3% |
| Time to Breakeven | 93 days | 15 days |
| 2008-2009 Global Financial Crisis | ||
| % Loss | -38.5% | -53.4% |
| % Gain to Breakeven | 62.6% | 114.4% |
| Time to Breakeven | 799 days | 1085 days |
In The Past
Procter & Gamble's stock fell -4.9% during the 2025 US Tariff Shock. Such a loss loss requires a 5.1% gain to breakeven.
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| Event | PG | S&P 500 |
|---|---|---|
| 2022 Inflation Shock & Fed Tightening | ||
| % Loss | -22.7% | -24.5% |
| % Gain to Breakeven | 29.3% | 32.4% |
| Time to Breakeven | 291 days | 427 days |
| 2020 COVID-19 Crash | ||
| % Loss | -22.1% | -33.7% |
| % Gain to Breakeven | 28.4% | 50.9% |
| Time to Breakeven | 113 days | 140 days |
| 2008-2009 Global Financial Crisis | ||
| % Loss | -38.5% | -53.4% |
| % Gain to Breakeven | 62.6% | 114.4% |
| Time to Breakeven | 799 days | 1085 days |
In The Past
Procter & Gamble's stock fell -4.9% during the 2025 US Tariff Shock. Such a loss loss requires a 5.1% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
About Procter & Gamble (PG)
The Procter & Gamble Company (PG) is a global leader in branded consumer packaged goods, providing a wide array of products that people use in their daily lives. Established in 1837, P&G operates on an international scale, serving consumers across numerous regions including North and Latin America, Europe, the Asia Pacific, Greater China, India, the Middle East, and Africa.
P&G's extensive product portfolio is organized into five key segments: Beauty; Grooming; Health Care; Fabric & Home Care; and Baby, Feminine & Family Care. Through these segments, the company offers a variety of essential goods such as shampoos, conditioners, skincare products, antiperspirants, deodorants, and personal cleansing items. Notable brands include Head & Shoulders, Pantene, Olay, Old Spice, Safeguard, and Secret, positioning P&G as a primary provider of household and personal care staples for a global consumer base.
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Here are 1-3 brief analogies for Procter & Gamble:
It's like **General Mills**, but for personal care and cleaning products instead of food.
Think of it as the **Coca-Cola** of shampoos, soaps, and detergents.
It's the **Disney** of everyday household and personal care brands.
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- Hair Care Products: This category includes conditioners, shampoos, styling aids, and treatments.
- Skin & Personal Care Products: These products encompass antiperspirants, deodorants, personal cleansing items, and skin care solutions.
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The Procter & Gamble Company (PG) primarily sells its branded consumer packaged goods to individual consumers worldwide through various retail channels.
Its major customers can be broadly categorized as:
- Individuals seeking personal hygiene and beauty solutions: This category includes consumers purchasing products for hair care (e.g., shampoos, conditioners, styling aids), skincare, body cleansing, antiperspirants, deodorants, and grooming. Examples include users of Head & Shoulders, Pantene, Olay, Old Spice, Secret, and SK-II brands.
- Households and families requiring home and family care products: This segment comprises consumers buying products for laundry, home cleaning, baby care (e.g., diapers), and feminine hygiene. These products address the daily needs of maintaining a household and caring for family members.
- Consumers focused on health and general wellness: This category includes individuals purchasing oral care products (e.g., toothpaste, toothbrushes, mouthwash) and other personal health items.
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Shailesh Jejurikar - President and Chief Executive Officer
Shailesh Jejurikar will officially assume the role of President and Chief Executive Officer of Procter & Gamble on January 1, 2026, succeeding Jon Moeller. He began his career at P&G in 1989 as an assistant brand manager in India. Throughout his tenure, he has held various leadership positions across key global markets, including serving as Chief Executive Officer of P&G's Fabric & Home Care, the company's largest division. Prior to his CEO appointment, he served as Chief Operating Officer since 2021, overseeing critical markets and leading core company functions such as IT, global business services, sales, market operations, purchasing, manufacturing, and distribution. Mr. Jejurikar is also a board member of Otis Elevator Co. He is recognized for his ability to drive growth and innovation and played a significant role in advancing P&G's sustainability agenda.
Andre Schulten - Chief Financial Officer
Andre Schulten serves as the Chief Financial Officer of Procter & Gamble, a role he has held since March 2021. A native of Germany, Mr. Schulten joined P&G Germany as a Cost Analyst and Manager of Finance & Accounting in 1996. His extensive experience at P&G spans Europe, North America, and Asia, where he has led organization, supply chain, and total business restructuring and growth strategy for P&G's Feminine Care and Baby Care businesses globally. Notably, he led the systems and IT integration following P&G's acquisition of Gillette. In 2018, he expanded his experience to lead and manage the North America Baby Care business, holding full profit and loss responsibility. Mr. Schulten joined Eaton's Board in October 2024.
Jon R. Moeller - Executive Chairman of the Board
Jon R. Moeller, who previously served as President and Chief Executive Officer from November 2021 to January 2026, will transition to the role of Executive Chairman of the Board effective January 1, 2026. He joined Procter & Gamble in 1988 as a cost analyst. Throughout his career at P&G, he has held various senior leadership roles including Vice President, Treasurer, and Chief Financial Officer for more than 12 years. During his time as CFO, he oversaw finance, accounting, tax, treasury, corporate strategy, business development, and investor relations functions. Mr. Moeller also managed P&G's global Duracell, Salon Professional, Retail Hair Color, and Prestige Fragrances businesses for a multi-year period as these businesses were transitioned for sale. He led major merger and acquisition operations, including the Merck KGaA acquisition and the divestitures of P&G's coffee, snacks, pharmaceuticals, battery, and prestige beauty businesses. He served on the board of directors for Monsanto for eight years and was Chairman of that Board's Audit Committee.
Gary Coombe - Chief Executive Officer – Grooming
Gary Coombe is the Chief Executive Officer for P&G's Grooming segment. He is a member of the diverse leadership team that is shaping P&G's future with extensive knowledge, experience, and expertise.
Marc S. Pritchard - Chief Brand Officer
Marc S. Pritchard serves as P&G's Chief Brand Officer. He plays a pivotal role in shaping the company's strategic direction and ensuring operational excellence across its diverse product portfolio, contributing to driving innovation and maintaining brand integrity.
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The key risks to Procter & Gamble's business are:
- Macroeconomic Headwinds: Procter & Gamble faces significant risks from global economic volatility, including inflation, rising commodity costs for raw materials, energy, and transportation, which can pressure profit margins. The company is also exposed to foreign currency fluctuations due to its extensive international operations, which can adversely affect financial results. Geopolitical instability, trade tensions, tariffs, and potential decreases in consumer spending further present considerable challenges, impacting sales and earnings growth.
- Intense Competition: The consumer products industry is highly competitive, with Procter & Gamble vying for market share against formidable global and local rivals such as Unilever, Johnson & Johnson, Nestlé, Colgate-Palmolive, and Kimberly-Clark. This intense competition necessitates continuous innovation, strategic pricing, and effective marketing and distribution to maintain its market position and attract consumer attention.
- Supply Chain Disruptions: Procter & Gamble relies on a global network of suppliers for its ingredients and has a complex manufacturing and distribution infrastructure, making it susceptible to various supply chain risks. These risks include natural catastrophes, continuity issues with critical suppliers, major IT failures, and transportation disruptions, which can lead to increased costs, production delays, or product unavailability in the market, potentially causing customers to switch to competitors.
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There are two clear emerging threats for Procter & Gamble:
- The proliferation and growing market share of Direct-to-Consumer (DTC) brands: These agile, digitally native brands leverage e-commerce, social media, and subscription models to reach consumers directly, bypassing traditional retail channels that P&G has historically dominated. Often focused on niche markets, sustainability, or specific ingredient profiles, they challenge P&G's established brands by offering alternative value propositions, innovative branding, and direct customer relationships. This trend fragments the consumer packaged goods market and intensifies competition for consumer loyalty.
- The increasing strength and sophistication of private label and retailer-owned brands: Major retailers are significantly investing in and promoting their own store brands across various product categories where P&G operates. These private label products often offer comparable quality to national brands at lower price points, directly competing for shelf space and consumer purchases. As retailers gain more control over their ecosystems (e.g., in-store promotion, online recommendations), their ability to push their own higher-margin brands presents a substantial threat to P&G's market share and pricing power.
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The addressable markets for Procter & Gamble's main products and services are as follows:
-
Beauty:
- Global Beauty and Personal Care Products Market: Valued at USD 601.39 billion in 2024 and is expected to reach USD 1,232.57 billion by 2034. Other estimates include USD 557.88 billion in 2024, projected to reach USD 818.42 billion by 2033, and USD 561.4 billion in 2024, projected to reach USD 826.96 billion by 2033.
- U.S. Beauty and Personal Care Products Market: Valued at USD 136.03 billion in 2024 and is expected to expand to USD 195.83 billion by 2033. The market was estimated at USD 109.56 billion in 2025 and is expected to reach USD 196.33 billion by 2033.
- U.S. Cosmetics Market: Estimated at USD 62.97 billion in 2023 and is expected to reach USD 95.05 billion by 2030.
-
Grooming:
- Global Grooming Products Market: Estimated to be valued at USD 58.4 billion in 2025 and is expected to reach USD 89.7 billion by 2032.
- Global Men's Grooming Products Market: Valued at USD 64.63 billion in 2025 and is projected to reach USD 90.63 billion by 2034. Another source estimates the market at USD 61.6 billion in 2025, expected to reach USD 108 billion in 2035.
- U.S. Male Grooming Products Market: Valued at USD 19,172 million (USD 19.17 billion) in 2025 and is projected to reach USD 28,781.48 million (USD 28.78 billion) by 2034. The market size is also expected to reach USD 97.39 billion by 2032.
-
Health Care (Consumer Healthcare):
- Global Consumer Healthcare Market: Valued at USD 302.36 billion in 2024 and is poised to grow to USD 584.57 billion by 2033. Other estimates include approximately USD 322.58 billion in 2024, expected to reach around USD 650.15 billion by 2034, and USD 349.88 billion in 2025, projected to reach USD 668.89 billion by 2034.
- U.S. Consumer Healthcare Market: Achieved sales of more than USD 100 billion in 2024. The market size was valued at USD 136.22 billion in 2025.
- Fabric & Home Care: null
-
Baby, Feminine & Family Care:
- Global Baby Care Products Market: Valued at USD 104.82 billion in 2024 and is projected to reach USD 171.17 billion by 2033. Another source states USD 98.8 billion in 2025, expected to climb to USD 214.6 billion by 2036.
- U.S. Baby Care Products Market: Valued at USD 19.24 billion in 2024 and is projected to reach USD 33.67 billion by 2033. The U.S. Baby Personal Care Products Market is projected to grow from USD 32.9 billion in 2024 to USD 63.52 billion by 2034.
- Global Feminine Hygiene Products Market: Valued at USD 46.85 billion in 2024 and is poised to grow to USD 79.15 billion by 2033. Other estimates include USD 48.96 billion in 2025, predicted to increase to USD 101.80 billion by 2035.
- U.S. Feminine Hygiene Products Market: Projected at USD 14,509.38 million (USD 14.51 billion) in 2025. The market size is projected to reach a valuation of USD 34.34 billion by 2033 from USD 15.56 billion in 2024.
- Family Care Products: null
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- Sustained Organic Sales Growth through Pricing and Mix: P&G consistently aims for organic sales growth, which includes strategic price increases and a favorable product mix, meaning consumers are shifting towards higher-value products. For example, in fiscal year 2025, organic sales grew by 2%. The company's guidance for fiscal 2026 projects organic sales growth in the range of flat to plus 4%. This growth is often supported by flat or slightly positive volume and positive pricing and mix contributions.
- Product Innovation and Superiority: A core driver for P&G is its commitment to "superiority across product, package, brand communication, retail execution and value". The company continually invests in innovation, launching new products and improving existing ones to drive category expansion and market share gains. Notable examples include the successful launch of the Swiffer PowerMop, which became the largest product launch in Swiffer's history, and the premium Olay line, which has driven significant growth in offline and online channels. The Oral-B iO Power Brush is another innovation cited for driving growth in the power brush segment.
- E-commerce Channel Expansion: The digital storefront continues to be a significant growth area for P&G. E-commerce sales increased by 12% in fiscal year 2025, now constituting 19% of the company's total sales, indicating a robust and expanding channel for future revenue.
- Growth in Strategic Markets and Categories: P&G focuses on expanding in key geographic markets and prioritizing high-growth product categories. For instance, Latin America achieved 4% organic sales growth in fiscal year 2025, and Greater China's organic sales advanced by 5% in the first quarter of fiscal year 2026. Categories like Family Care and Personal Health Care demonstrated mid-single-digit growth in fiscal year 2025, with Skin and Personal Care organic sales rising by high single digits in Q1 FY2026.
- Strategic Portfolio Optimization and Productivity Improvements: While impacting margins, P&G's continuous productivity improvements fuel investments in innovation and demand creation, thereby indirectly supporting revenue growth. Additionally, a new restructuring program initiated in fiscal year 2026, with benefits expected to materialize from fiscal year 2027, involves product and market exits to streamline the portfolio towards higher-growth and higher-return categories and regions.
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Share Repurchases
- Procter & Gamble returned $6.5 billion to shareholders through share repurchases in fiscal year 2025.
- In fiscal year 2024, the company's annual share repurchases amounted to $5.006 billion.
- P&G expects to repurchase approximately $5 billion of common shares in fiscal year 2026.
Share Issuance
- Information on significant share issuances (e.g., primary public offerings) by Procter & Gamble over the last 3-5 years is not available; changes in outstanding shares have primarily reflected repurchases. The number of outstanding shares declined by 0.71% in 2025 to 2.454 billion and by 0.48% in 2024 to 2.472 billion, indicating the impact of repurchases.
Outbound Investments
- Procter & Gamble acquired Wonderbelly, a "free-from" digestive wellness brand, in January 2026.
- In March 2024, P&G acquired Rolaids, an antacid manufacturer.
- P&G also acquired Mielle Organics, LLC, a haircare products manufacturer and retailer, in January 2023, and Tula Life, Inc., a probiotic skin care company, in January 2022.
Capital Expenditures
- Capital expenditures for Procter & Gamble were $3.773 billion in fiscal year 2025, an increase of 13.6% from the prior year.
- P&G estimates its capital spending for fiscal year 2026 to be in the range of 4% to 5% of net sales.
- The company continuously invests in research and development for product innovation, sustainability initiatives, and capacity expansion to support its portfolio of daily-use, essential offerings.
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Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 93.00 |
| Mkt Cap | 36.8 |
| Rev LTM | 15,408 |
| Op Inc LTM | 2,941 |
| FCF LTM | 1,914 |
| FCF 3Y Avg | 1,773 |
| CFO LTM | 2,325 |
| CFO 3Y Avg | 2,256 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 2.7% |
| Rev Chg 3Y Avg | 2.0% |
| Rev Chg Q | 3.0% |
| QoQ Delta Rev Chg LTM | 0.8% |
| Op Inc Chg LTM | 0.8% |
| Op Inc Chg 3Y Avg | 3.0% |
| Op Mgn LTM | 19.1% |
| Op Mgn 3Y Avg | 17.9% |
| QoQ Delta Op Mgn LTM | -0.1% |
| CFO/Rev LTM | 20.2% |
| CFO/Rev 3Y Avg | 18.3% |
| FCF/Rev LTM | 17.4% |
| FCF/Rev 3Y Avg | 15.4% |
Valuation
| Median | |
|---|---|
| Name | |
| Mkt Cap | 36.8 |
| P/S | 3.5 |
| P/Op Inc | 18.3 |
| P/EBIT | 23.3 |
| P/E | 22.2 |
| P/CFO | 17.2 |
| Total Yield | 5.2% |
| Dividend Yield | 2.5% |
| FCF Yield 3Y Avg | 4.1% |
| D/E | 0.1 |
| Net D/E | 0.1 |
Returns
| Median | |
|---|---|
| Name | |
| 1M Rtn | -1.6% |
| 3M Rtn | 7.1% |
| 6M Rtn | -0.8% |
| 12M Rtn | -1.0% |
| 3Y Rtn | 1.4% |
| 1M Excs Rtn | -2.5% |
| 3M Excs Rtn | 1.4% |
| 6M Excs Rtn | -12.3% |
| 12M Excs Rtn | -21.9% |
| 3Y Excs Rtn | -66.7% |
Comparison Analyses
Segment Financials
Revenue by Segment| $ Mil | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Fabric & Home Care | 29,617 | 29,495 | 28,371 | 27,556 | 26,014 |
| Baby, Feminine & Family Care | 20,248 | 20,277 | 20,217 | 19,736 | 18,850 |
| Beauty | 14,964 | 15,220 | 15,008 | 14,740 | 14,417 |
| Health Care | 11,998 | 11,793 | 11,226 | 10,824 | 9,956 |
| Grooming | 6,662 | 6,654 | 6,419 | 6,587 | 6,440 |
| Corporate | 794 | 601 | 765 | 744 | 441 |
| Total | 84,283 | 84,040 | 82,006 | 80,187 | 76,118 |
| $ Mil | 2002 | 2001 | 2000 | 1997 |
|---|---|---|---|---|
| Fabric & Home Care | 2,728 | 2,427 | 2,318 | |
| Baby, Feminine & Family Care | 1,961 | |||
| Beauty Care | 1,664 | 1,404 | 1,393 | |
| Health Care | 795 | 584 | 540 | 471 |
| Food & Beverage | 604 | 547 | 566 | |
| Paper | 1,735 | 1,817 | ||
| Laundry and cleaning | 2,101 | |||
| beauty care | 1,066 | |||
| food and beverage | 542 | |||
| paper | 1,333 | |||
| Total | 7,752 | 6,697 | 6,634 | 5,513 |
| $ Mil | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Fabric & Home Care | 5,848 | 5,687 | 4,828 | 4,386 | 4,622 |
| Baby, Feminine & Family Care | 4,013 | 4,020 | 3,545 | 3,266 | 3,629 |
| Beauty | 2,715 | 2,963 | 3,178 | 3,160 | 3,210 |
| Health Care | 2,440 | 2,258 | 2,125 | 2,006 | 1,851 |
| Grooming | 1,577 | 1,477 | 1,461 | 1,490 | 1,427 |
| Corporate | -527 | -1,430 | -399 | 485 | -387 |
| Total | 16,066 | 14,975 | 14,738 | 14,793 | 14,352 |
| $ Mil | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|
| Corporate | 71,365 | 68,366 | 65,773 | 68,076 | 70,481 |
| Grooming | 19,082 | 20,601 | 20,482 | 20,668 | 20,589 |
| Fabric & Home Care | 8,907 | 8,669 | 8,567 | 8,334 | 7,745 |
| Baby, Feminine & Family Care | 8,497 | 8,517 | 8,443 | 8,666 | 8,628 |
| Health Care | 8,416 | 8,480 | 7,888 | 7,976 | 7,726 |
| Beauty | 6,103 | 6,196 | 6,055 | 5,587 | 5,531 |
| Total | 122,370 | 120,829 | 117,208 | 119,307 | 120,700 |
Price Behavior
| Market Price | $146.97 | |
| Market Cap ($ Bil) | 342.2 | |
| First Trading Date | 01/02/1970 | |
| Distance from 52W High | -10.8% | |
| 50 Days | 200 Days | |
| DMA Price | $146.73 | $145.90 |
| DMA Trend | indeterminate | up |
| Distance from DMA | 0.2% | 0.7% |
| 3M | 1YR | |
| Volatility | 22.8% | 19.7% |
| Downside Capture | -60.44 | -30.61 |
| Upside Capture | -41.46 | -24.50 |
| Correlation (SPY) | -15.4% | -3.6% |
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | -0.13 | -0.46 | -0.26 | 0.05 | -0.08 | 0.10 |
| Up Beta | -1.51 | -0.21 | 0.21 | 0.57 | 0.38 | 0.21 |
| Down Beta | 1.68 | -0.36 | -0.21 | 0.02 | 0.02 | 0.05 |
| Up Capture | -34% | -48% | -34% | -10% | -15% | 1% |
| Bmk +ve Days | 11 | 22 | 35 | 67 | 138 | 427 |
| Stock +ve Days | 12 | 23 | 34 | 66 | 129 | 394 |
| Down Capture | -25% | -66% | -48% | -14% | -43% | 16% |
| Bmk -ve Days | 11 | 21 | 28 | 59 | 114 | 326 |
| Stock -ve Days | 10 | 20 | 29 | 60 | 122 | 357 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with PG | |
|---|---|---|---|---|
| PG | 0.5% | 19.7% | -0.09 | - |
| Sector ETF (XLP) | 8.0% | 14.2% | 0.31 | 70.6% |
| Equity (SPY) | 23.5% | 12.9% | 1.37 | -3.7% |
| Gold (GLD) | 25.3% | 28.3% | 0.79 | 5.1% |
| Commodities (DBC) | 32.4% | 19.8% | 1.30 | -31.0% |
| Real Estate (VNQ) | 12.9% | 13.8% | 0.64 | 42.4% |
| Bitcoin (BTCUSD) | -43.6% | 43.0% | -1.21 | -14.9% |
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Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with PG | |
|---|---|---|---|---|
| PG | 3.7% | 18.1% | 0.09 | - |
| Sector ETF (XLP) | 6.2% | 13.6% | 0.24 | 78.0% |
| Equity (SPY) | 13.2% | 17.2% | 0.59 | 27.2% |
| Gold (GLD) | 17.9% | 18.5% | 0.78 | 7.2% |
| Commodities (DBC) | 8.0% | 19.6% | 0.31 | -8.2% |
| Real Estate (VNQ) | 2.3% | 18.9% | 0.02 | 40.4% |
| Bitcoin (BTCUSD) | 10.0% | 53.0% | 0.38 | 3.5% |
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Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with PG | |
|---|---|---|---|---|
| PG | 8.6% | 19.2% | 0.38 | - |
| Sector ETF (XLP) | 7.4% | 14.8% | 0.36 | 81.5% |
| Equity (SPY) | 15.3% | 17.9% | 0.73 | 44.4% |
| Gold (GLD) | 11.8% | 16.2% | 0.59 | 7.6% |
| Commodities (DBC) | 7.4% | 18.0% | 0.33 | 4.3% |
| Real Estate (VNQ) | 4.9% | 20.7% | 0.20 | 48.3% |
| Bitcoin (BTCUSD) | 58.3% | 66.2% | 0.98 | 5.4% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Returns Analyses
Earnings Returns History
Updated 8/7/2026| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 7/29/2026 | -1.9% | -0.6% | |
| 4/24/2026 | 2.5% | 1.7% | -0.1% |
| 1/22/2026 | 2.6% | 1.6% | 10.9% |
| 10/24/2025 | 0.9% | -1.0% | -0.2% |
| 7/29/2025 | -0.3% | -4.0% | -0.7% |
| 4/24/2025 | -3.7% | -1.9% | -0.4% |
| 1/22/2025 | 1.9% | 3.4% | 4.0% |
| 10/18/2024 | 0.0% | -1.0% | -1.0% |
| ... | |||
| SUMMARY STATS | |||
| # Positive | 16 | 14 | 13 |
| # Negative | 8 | 10 | 10 |
| Median Positive | 2.2% | 2.5% | 4.0% |
| Median Negative | -2.0% | -1.5% | -0.9% |
| Max Positive | 4.1% | 5.6% | 11.2% |
| Max Negative | -6.2% | -4.0% | -8.5% |
| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 7/29/2026 | -1.9% | -0.6% | |
| 4/24/2026 | 2.5% | 1.7% | -0.1% |
| 1/22/2026 | 2.6% | 1.6% | 10.9% |
| 10/24/2025 | 0.9% | -1.0% | -0.2% |
| 7/29/2025 | -0.3% | -4.0% | -0.7% |
| 4/24/2025 | -3.7% | -1.9% | -0.4% |
| 1/22/2025 | 1.9% | 3.4% | 4.0% |
| 10/18/2024 | 0.0% | -1.0% | -1.0% |
| 7/30/2024 | -4.8% | -1.1% | -0.4% |
| 4/19/2024 | 0.5% | 3.3% | 6.6% |
| 1/23/2024 | 4.1% | 5.6% | 8.5% |
| 10/18/2023 | 2.6% | 3.1% | 4.2% |
| 7/28/2023 | 2.8% | 3.2% | 0.9% |
| 4/21/2023 | 3.5% | 3.7% | 1.5% |
| 1/19/2023 | -2.1% | -2.6% | -5.7% |
| 10/19/2022 | 0.9% | 2.7% | 11.2% |
| 7/29/2022 | -6.2% | -2.3% | -3.9% |
| 4/20/2022 | 2.7% | 0.8% | -8.5% |
| 1/19/2022 | 3.4% | 2.3% | 1.4% |
| 10/19/2021 | -1.2% | -0.4% | 4.0% |
| 7/30/2021 | 2.0% | 2.2% | 2.0% |
| 4/20/2021 | 0.8% | -3.3% | 0.4% |
| 1/20/2021 | -1.2% | 0.2% | -2.5% |
| 10/20/2020 | 0.4% | 0.1% | 0.5% |
| SUMMARY STATS | |||
| # Positive | 16 | 14 | 13 |
| # Negative | 8 | 10 | 10 |
| Median Positive | 2.2% | 2.5% | 4.0% |
| Median Negative | -2.0% | -1.5% | -0.9% |
| Max Positive | 4.1% | 5.6% | 11.2% |
| Max Negative | -6.2% | -4.0% | -8.5% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 06/30/2026 | 08/04/2026 | 10-K |
| 03/31/2026 | 04/24/2026 | 10-Q |
| 12/31/2025 | 01/23/2026 | 10-Q |
| 09/30/2025 | 10/24/2025 | 10-Q |
| 06/30/2025 | 08/04/2025 | 10-K |
| 03/31/2025 | 04/24/2025 | 10-Q |
| 12/31/2024 | 01/22/2025 | 10-Q |
| 09/30/2024 | 10/18/2024 | 10-Q |
| 06/30/2024 | 08/05/2024 | 10-K |
| 03/31/2024 | 04/19/2024 | 10-Q |
| 12/31/2023 | 01/23/2024 | 10-Q |
| 09/30/2023 | 10/18/2023 | 10-Q |
| 06/30/2023 | 08/04/2023 | 10-K |
| 03/31/2023 | 04/21/2023 | 10-Q |
| 12/31/2022 | 01/19/2023 | 10-Q |
| 09/30/2022 | 10/19/2022 | 10-Q |
| Report Date | Filing Date | Filing |
|---|---|---|
| 06/30/2026 | 08/04/2026 | 10-K |
| 03/31/2026 | 04/24/2026 | 10-Q |
| 12/31/2025 | 01/23/2026 | 10-Q |
| 09/30/2025 | 10/24/2025 | 10-Q |
| 06/30/2025 | 08/04/2025 | 10-K |
| 03/31/2025 | 04/24/2025 | 10-Q |
| 12/31/2024 | 01/22/2025 | 10-Q |
| 09/30/2024 | 10/18/2024 | 10-Q |
| 06/30/2024 | 08/05/2024 | 10-K |
| 03/31/2024 | 04/19/2024 | 10-Q |
| 12/31/2023 | 01/23/2024 | 10-Q |
| 09/30/2023 | 10/18/2023 | 10-Q |
| 06/30/2023 | 08/04/2023 | 10-K |
| 03/31/2023 | 04/21/2023 | 10-Q |
| 12/31/2022 | 01/19/2023 | 10-Q |
| 09/30/2022 | 10/19/2022 | 10-Q |
| 06/30/2022 | 08/05/2022 | 10-K |
| 03/31/2022 | 04/20/2022 | 10-Q |
| 12/31/2021 | 01/19/2022 | 10-Q |
| 09/30/2021 | 10/19/2021 | 10-Q |
| 06/30/2021 | 08/06/2021 | 10-K |
| 03/31/2021 | 04/20/2021 | 10-Q |
| 12/31/2020 | 01/20/2021 | 10-Q |
| 09/30/2020 | 10/20/2020 | 10-Q |
| 06/30/2020 | 08/06/2020 | 10-K |
| 03/31/2020 | 04/20/2020 | 10-Q |
| 12/31/2019 | 01/23/2020 | 10-Q |
| 09/30/2019 | 10/22/2019 | 10-Q |
Recent Forward Guidance
Updated 7/30/2026Latest: Q4 2026 Earnings Reported 7/29/2026
| Forward Guidance | Guidance Change | ||||||
|---|---|---|---|---|---|---|---|
| Metric | Low | Mid | High | % Chg | % Delta | Change | Prior |
| 2027 All-in Sales Growth | 1.0% | 2.0% | 3.0% | -33.3% | -1.0% | Lower New | Guidance: 3.0% for 2026 |
| 2027 Organic Sales Growth | 1.0% | 2.0% | 3.0% | 0.0% | 0.0% | Same New | Guidance: 2.0% for 2026 |
| 2027 Diluted EPS Growth | 1.0% | 3.0% | 5.0% | -14.3% | -0.5% | Lower New | Guidance: 3.5% for 2026 |
| 2027 Core EPS Growth | 0.0% | 1.5% | 3.0% | -25.0% | -0.5% | Lower New | Guidance: 2.0% for 2026 |
| 2027 Core EPS | 6.89 | 7 | 7.11 | 0.6% | Higher New | Guidance: 6.96 for 2026 | |
| 2027 Adjusted Free Cash Flow Productivity | 0.85 | 0.88 | 0.9 | 0.0% | 0.0% | Same New | Guidance: 0.88 for 2026 |
| 2027 Dividends | 10.00 Bil | 0.0% | Same New | Guidance: 10.00 Bil for 2026 | |||
| 2027 Share Repurchases | 5.00 Bil | 0.0% | Same New | Guidance: 5.00 Bil for 2026 | |||
Prior: Q3 2026 Earnings Reported 4/24/2026
| Forward Guidance | Guidance Change | ||||||
|---|---|---|---|---|---|---|---|
| Metric | Low | Mid | High | % Chg | % Delta | Change | Prior |
| 2026 All-in Sales Growth | 1.0% | 3.0% | 5.0% | 0.0% | Affirmed | Guidance: 3.0% for 2026 | |
| 2026 Organic Sales Growth | 0.0% | 2.0% | 4.0% | 0.0% | Affirmed | Guidance: 2.0% for 2026 | |
| 2026 Diluted EPS Growth | 1.0% | 3.5% | 6.0% | 0.0% | Affirmed | Guidance: 3.5% for 2026 | |
| 2026 Core EPS Growth | 0.0% | 2.0% | 4.0% | 0.0% | Affirmed | Guidance: 2.0% for 2026 | |
| 2026 Core EPS | 6.83 | 6.96 | 7.09 | 0.0% | Affirmed | Guidance: 6.96 for 2026 | |
| 2026 Core Effective Tax Rate | 20.0% | 20.5% | 21.0% | 0.0% | Affirmed | Guidance: 20.5% for 2026 | |
| 2026 Capital Spending | 0.04 | 0.04 | 0.05 | 0.0% | Affirmed | Guidance: 0.04 for 2026 | |
| 2026 Adjusted Free Cash Flow Productivity | 0.85 | 0.88 | 0.9 | 0.0% | Affirmed | Guidance: 0.88 for 2026 | |
| 2026 Dividends | 10.00 Bil | 0.0% | Affirmed | Guidance: 10.00 Bil for 2026 | |||
| 2026 Share Repurchases | 5.00 Bil | 0.0% | Affirmed | Guidance: 5.00 Bil for 2026 | |||
Q2 2026 Earnings Reported 1/22/2026
| Forward Guidance | Guidance Change | ||||||
|---|---|---|---|---|---|---|---|
| Metric | Low | Mid | High | % Chg | % Delta | Change | Prior |
| 2026 All-in Sales Growth | 1.0% | 3.0% | 5.0% | 0.0% | Affirmed | Guidance: 3.0% for 2026 | |
| 2026 Organic Sales Growth | 0.0% | 2.0% | 4.0% | 0.0% | Affirmed | Guidance: 2.0% for 2026 | |
| 2026 Diluted EPS Growth | 1.0% | 3.5% | 6.0% | -2.5% | Lowered | Guidance: 6.0% for 2026 | |
| 2026 Core EPS Growth | 0.0% | 2.0% | 4.0% | 0.0% | Affirmed | Guidance: 2.0% for 2026 | |
| 2026 Core EPS | 6.83 | 6.96 | 7.09 | 0.0% | Affirmed | Guidance: 6.96 for 2026 | |
| 2026 Core Effective Tax Rate | 20.0% | 20.5% | 21.0% | 0.0% | Affirmed | Guidance: 20.5% for 2026 | |
| 2026 Capital Spending | 0.04 | 0.04 | 0.05 | 0.0% | Affirmed | Guidance: 0.04 for 2026 | |
| 2026 Adjusted Free Cash Flow Productivity | 0.85 | 0.88 | 0.9 | 0.0% | Affirmed | Guidance: 0.88 for 2026 | |
| 2026 Dividends | 10.00 Bil | 0.0% | Affirmed | Guidance: 10.00 Bil for 2026 | |||
| 2026 Share Repurchases | 5.00 Bil | 0.0% | Affirmed | Guidance: 5.00 Bil for 2026 | |||
Q1 2026 Earnings Reported 10/24/2025
| Forward Guidance | Guidance Change | ||||||
|---|---|---|---|---|---|---|---|
| Metric | Low | Mid | High | % Chg | % Delta | Change | Prior |
| 2026 All-in Sales Growth | 1.0% | 3.0% | 5.0% | 0.0% | Affirmed | Guidance: 3.0% for 2026 | |
| 2026 Organic Sales Growth | 0.0% | 2.0% | 4.0% | 0.0% | Affirmed | Guidance: 2.0% for 2026 | |
| 2026 Diluted EPS Growth | 3.0% | 6.0% | 9.0% | 0.0% | Affirmed | Guidance: 6.0% for 2026 | |
| 2026 Core EPS Growth | 0.0% | 2.0% | 4.0% | 0.0% | Affirmed | Guidance: 2.0% for 2026 | |
| 2026 Core EPS | 6.83 | 6.96 | 7.09 | ||||
| 2026 Core Effective Tax Rate | 20.0% | 20.5% | 21.0% | 0.0% | Affirmed | Guidance: 20.5% for 2026 | |
| 2026 Capital Spending | 0.04 | 0.04 | 0.05 | 0.0% | Affirmed | Guidance: 0.04 for 2026 | |
| 2026 Adjusted Free Cash Flow Productivity | 0.85 | 0.88 | 0.9 | 0.0% | Affirmed | Guidance: 0.88 for 2026 | |
| 2026 Dividends | 10.00 Bil | 0.0% | Affirmed | Guidance: 10.00 Bil for 2026 | |||
| 2026 Share Repurchases | 5.00 Bil | 0.0% | Affirmed | Guidance: 5.00 Bil for 2026 | |||
Insider Activity
Updated 6/10/2026| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Francisco, Ma. Fatima | CEO - Baby, Fem & Family Care | Direct | Sell | 3022026 | 165.29 | 5,549 | 917,199 | 170,041 | Form |
| 2 | Whaley, Susan Street | Chief Legal Officer & Secy | Direct | Sell | 2232026 | 159.46 | 1,809 | 288,454 | 4,817,941 | Form |
| 3 | Aguilar, Moses Victor Javier | Chf Rsch, Dev & Innov Officer | Direct | Sell | 2172026 | 162.28 | 15,169 | 2,461,609 | 7,259,625 | Form |
| 4 | Moeller, Jon R | Exec. Chairman of the Board | Direct | Sell | 2132026 | 162.45 | 162,232 | 26,354,361 | 51,883,644 | Form |
| 5 | Coombe, Gary A | CEO - Grooming | Direct | Sell | 2132026 | 162.33 | 36,093 | 5,859,002 | 5,680,566 | Form |
| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Francisco, Ma. Fatima | CEO - Baby, Fem & Family Care | Direct | Sell | 3022026 | 165.29 | 5,549 | 917,199 | 170,041 | Form |
| 2 | Whaley, Susan Street | Chief Legal Officer & Secy | Direct | Sell | 2232026 | 159.46 | 1,809 | 288,454 | 4,817,941 | Form |
| 3 | Aguilar, Moses Victor Javier | Chf Rsch, Dev & Innov Officer | Direct | Sell | 2172026 | 162.28 | 15,169 | 2,461,609 | 7,259,625 | Form |
| 4 | Moeller, Jon R | Exec. Chairman of the Board | Direct | Sell | 2132026 | 162.45 | 162,232 | 26,354,361 | 51,883,644 | Form |
| 5 | Coombe, Gary A | CEO - Grooming | Direct | Sell | 2132026 | 162.33 | 36,093 | 5,859,002 | 5,680,566 | Form |
| 6 | Purushothaman, Balaji | Chief Human Resources Officer | Direct | Sell | 2132026 | 160.31 | 12,827 | 2,056,287 | 2,026,117 | Form |
| 7 | Moeller, Jon R | Exec. Chairman of the Board | Direct | Sell | 2132026 | 160.00 | 11,036 | 1,765,760 | 51,101,598 | Form |
| 8 | Francisco, Ma. Fatima | CEO - Baby, Fem & Family Care | Direct | Sell | 2042026 | 158.00 | 8,000 | 1,264,000 | 1,038,250 | Form |
| 9 | Pritchard, Marc S | Chief Brand Officer | Direct | Sell | 1262026 | 151.15 | 95,903 | 14,495,690 | 27,600,889 | Form |
| 10 | Schulten, Andre | Chief Financial Officer | Retirement Plan Trustee | Sell | 11122025 | 146.37 | 1 | 190 | 1,005,499 | Form |
| 11 | Janzaruk, Matthew W | SVP - Chief Accounting Officer | Direct | Sell | 10302025 | 149.57 | 725 | 108,438 | 146,415 | Form |
| 12 | Schulten, Andre | Chief Financial Officer | Direct | Sell | 10062025 | 152.23 | 4,252 | 647,289 | 8,219,298 | Form |
| 13 | Moeller, Jon R | Chairman, President and CEO | Direct | Sell | 10062025 | 152.23 | 11,684 | 1,778,675 | 48,703,828 | Form |
| 14 | Purushothaman, Balaji | Chief Human Resources Officer | Direct | Sell | 10062025 | 152.23 | 490 | 74,594 | 1,920,556 | Form |
| 15 | Keith, R. Alexandra | CEO - Beauty | Direct | Sell | 10062025 | 152.23 | 1,855 | 282,390 | 3,908,474 | Form |
| 16 | Keith, R. Alexandra | CEO - Beauty | Spouse | Sell | 10062025 | 152.23 | 399 | 60,740 | 684,541 | Form |
| 17 | Jejurikar, Shailesh | Chief Operating Officer | Direct | Sell | 10062025 | 152.23 | 3,986 | 606,796 | 7,139,573 | Form |
| 18 | Davis, Jennifer L | CEO - Health Care | Direct | Sell | 10062025 | 152.23 | 3,227 | 491,252 | 9,402,428 | Form |
| 19 | Coombe, Gary A | CEO - Grooming | Direct | Sell | 10062025 | 152.23 | 3,535 | 538,139 | 5,300,121 | Form |
| 20 | Whaley, Susan Street | Chief Legal Officer & Secy | Direct | Sell | 10062025 | 152.23 | 2,408 | 366,574 | 4,836,376 | Form |
| 21 | Whaley, Susan Street | Chief Legal Officer & Secy | Direct | Sell | 8292025 | 156.84 | 1,000 | 156,835 | 4,459,734 | Form |
| 22 | Raman, Sundar G | CEO-Fabric & Home Care | Direct | Sell | 8222025 | 158.16 | 9,554 | 1,511,050 | 6,624,721 | Form |
| 23 | Coombe, Gary A | CEO - Grooming | Direct | Sell | 8222025 | 158.16 | 10,194 | 1,612,273 | 5,532,108 | Form |
| 24 | Keith, R. Alexandra | CEO - Beauty | Direct | Sell | 8222025 | 158.16 | 10,697 | 1,691,827 | 4,354,039 | Form |
| 25 | Keith, R. Alexandra | CEO - Beauty | Spouse | Sell | 8222025 | 158.16 | 766 | 121,150 | 774,302 | Form |
| 26 | Davis, Jennifer L | CEO - Health Care | Direct | Sell | 8212025 | 157.27 | 8,596 | 1,351,926 | 10,221,371 | Form |
| 27 | Whaley, Susan Street | Chief Legal Officer & Secy | Direct | Sell | 8202025 | 157.27 | 6,167 | 969,908 | 4,629,486 | Form |
| 28 | Schulten, Andre | Chief Financial Officer | Direct | Sell | 8202025 | 157.27 | 11,638 | 1,830,352 | 8,279,212 | Form |
| 29 | Purushothaman, Balaji | Chief Human Resources Officer | Direct | Sell | 8202025 | 157.27 | 606 | 95,308 | 2,061,231 | Form |
| 30 | Pritchard, Marc S | Chief Brand Officer | Direct | Sell | 8202025 | 157.27 | 9,849 | 1,548,990 | 28,690,184 | Form |
| 31 | Moeller, Jon R | Chairman, President and CEO | Direct | Sell | 8202025 | 157.27 | 40,119 | 6,309,668 | 50,229,356 | Form |
| 32 | Jejurikar, Shailesh | Chief Operating Officer | Direct | Sell | 8202025 | 157.27 | 13,039 | 2,050,693 | 4,409,388 | Form |
| 33 | Janzaruk, Matthew W | SVP - Chief Accounting Officer | Direct | Sell | 8202025 | 157.27 | 319 | 50,170 | 267,979 | Form |
| 34 | Francisco, Ma. Fatima | CEO - Baby, Fem & Family Care | Direct | Sell | 8202025 | 157.27 | 9,100 | 1,431,192 | 4,292,802 | Form |
Investor Activity (13F)
Updated Aug 7, 2026Active managers (13F portfolio over $250M, at least 3 holdings) with a position over $5M that is either over 10% of their portfolio or held in a concentrated book of 50 or fewer total positions. Index/ETF, sovereign, bank, community-bank and charitable/donor-advised filers are excluded.
| Active Manager | Value | % of Portfolio | Total Positions | QoQ | Filing |
|---|---|---|---|---|---|
| Vega Investment Solutions | $93.9 Mil | 22.4% | 175 | Hold | 13F |
| RIT Capital Partners PLC | $21.6 Mil | 5.8% | 12 | TRIM -30.0% | 13F |
| Fundsmith Investment Services LTD. | $254.3 Mil | 5.8% | 24 | Hold | 13F |
| Fundsmith LLP | $606.6 Mil | 4.7% | 34 | Hold | 13F |
| Hook Mill Capital Partners, LP | $49.7 Mil | 4.4% | 39 | ADD +31.3% | 13F |
| Hamlin Capital Management, LLC | $154.2 Mil | 3.7% | 30 | ADD +16.7% | 13F |
| HFR Wealth Management, LLC | $14.5 Mil | 3.6% | 49 | Hold | 13F |
| Saratoga Research & Investment Management | $52.0 Mil | 3.0% | 46 | ADD +65.1% | 13F |
| Triodos Investment Management BV | $36.8 Mil | 2.8% | 49 | Hold | 13F |
| Iyo Bank, Ltd. | $7.6 Mil | 2.7% | 35 | Hold | 13F |
| SRB Corp | $33.6 Mil | 2.1% | 44 | TRIM -12.3% | 13F |
| Ycg, LLC | $16.3 Mil | 1.5% | 42 | Hold | 13F |
| Cincinnati Specialty Underwriters Insurance CO | $5.4 Mil | 1.3% | 46 | New | 13F |
| Sanders Capital, LLC | $975.2 Mil | 1.2% | 44 | Hold | 13F |
| Fidelity National Financial, Inc. | $15.2 Mil | 0.6% | 21 | New | 13F |
| Active Manager | Value | % of Portfolio | Total Positions | QoQ | Filing |
|---|---|---|---|---|---|
| Fidelity National Financial, Inc. | $15.2 Mil | 0.6% | 21 | New | 13F |
| Cincinnati Specialty Underwriters Insurance CO | $5.4 Mil | 1.3% | 46 | New | 13F |
| Saratoga Research & Investment Management | $52.0 Mil | 3.0% | 46 | ADD +65.1% | 13F |
| Hook Mill Capital Partners, LP | $49.7 Mil | 4.4% | 39 | ADD +31.3% | 13F |
| Hamlin Capital Management, LLC | $154.2 Mil | 3.7% | 30 | ADD +16.7% | 13F |
| Active Manager | Value | % of Portfolio | Total Positions | QoQ | Filing |
|---|---|---|---|---|---|
| Sanders Capital, LLC | $975.2 Mil | 1.2% | 44 | Hold | 13F |
| Fundsmith LLP | $606.6 Mil | 4.7% | 34 | Hold | 13F |
| Fundsmith Investment Services LTD. | $254.3 Mil | 5.8% | 24 | Hold | 13F |
| Hamlin Capital Management, LLC | $154.2 Mil | 3.7% | 30 | ADD +16.7% | 13F |
| Vega Investment Solutions | $93.9 Mil | 22.4% | 175 | Hold | 13F |
| Saratoga Research & Investment Management | $52.0 Mil | 3.0% | 46 | ADD +65.1% | 13F |
| Hook Mill Capital Partners, LP | $49.7 Mil | 4.4% | 39 | ADD +31.3% | 13F |
| Triodos Investment Management BV | $36.8 Mil | 2.8% | 49 | Hold | 13F |
| SRB Corp | $33.6 Mil | 2.1% | 44 | TRIM -12.3% | 13F |
| RIT Capital Partners PLC | $21.6 Mil | 5.8% | 12 | TRIM -30.0% | 13F |
| Ycg, LLC | $16.3 Mil | 1.5% | 42 | Hold | 13F |
| Fidelity National Financial, Inc. | $15.2 Mil | 0.6% | 21 | New | 13F |
| HFR Wealth Management, LLC | $14.5 Mil | 3.6% | 49 | Hold | 13F |
| Iyo Bank, Ltd. | $7.6 Mil | 2.7% | 35 | Hold | 13F |
| Cincinnati Specialty Underwriters Insurance CO | $5.4 Mil | 1.3% | 46 | New | 13F |
PG Trade Sentinel
Neutral / Watch
CONVICTION RATIONALE
Procter & Gamble's high cash flow productivity of 100% and stable market share provide a solid foundation. However, organic sales growth has slowed to 1.5% and fiscal 2027 guidance points to further deceleration with 1-3% organic growth. The investment case now hinges on new product launches reinvigorating demand against significant cost headwinds.
STOCK ARCHETYPE
Recurring Consumption / Brand FranchiseVolume of units sold x Price per unit / Mix of products sold. Productivity savings across the cost structure and favorable mix shift towards higher-margin premium products.
INVESTMENT THESIS
Evidence suggests a challenging path, but the launch of platforms like Tide Evo could reignite top-line momentum.
- Adjusted free cash flow productivity was 100% for fiscal 2026.
- National expansion of Tide Evo is on track for this fiscal year.
- Global aggregate market share was in line with prior year for Q4.
- The company holds over 35% market share in fabric care.
- Pricing added 1 percentage point to organic sales growth in fiscal 2026.
PRIMARY RISK
Decelerating organic sales (from 3% to 1.5% last quarter) and a weak outlook (1-3% organic growth for FY27) suggest the company's premium brands are losing ground. A sharp inventory build of 8.2% versus 1.5% sales growth amplifies this concern.
- FY2027 organic sales growth is guided to 1% to 3%.
- Q1 FY2027 EPS is guided to be down 5% or more.
- Inventory grew 8.2% YoY, while revenue grew 1.5% in Q4.
- Latest quarter organic sales growth slowed to 1.5% from 3%.
- A peer noted a 'step-up in competitor promotions' in laundry.
| KPI | Status | Rationale |
|---|---|---|
| Organic Sales Growth | 1.5% year-over-year for the quarter ended 6/30/2026 - Decelerating | Organic sales growth accelerated in the third quarter but decelerated significantly in the most recent quarter. Management attributed some of the latest quarter's weakness to a "disconnect between sell-out and sell-in" in the U.S. market, with retailer inventory reductions being a factor. |
| Global Market Share | Global aggregate market share was in line with the prior year for the quarter ended 6/30/2026. - Stable | The company has stabilized its market share, holding it flat for two consecutive quarters after losing ground in Q2. However, it has not yet returned to gaining share. In the latest quarter, 23 of the top 50 category-country combinations held or grew share, a slight decrease from 26 in the prior quarter. |
| Global Aggregate Market Share | in line with prior year (Q4 FY2026) | Indicates the company's competitive performance against a wide range of global and local competitors, including private-label brands. |
| Adjusted Free Cash Flow Productivity | 100% (Fiscal Year 2026) | Market rewards The company's long-term algorithm targets 90% or greater.. Measures the company's ability to convert net earnings into cash available for dividends, share repurchases, and acquisitions. It is a key metric for evaluating senior management. |
Innovation Power vs. Consumer Value Shift
BULL VIEW
The national launch of Tide Evo and other premium innovations will prove the company's brand superiority, allowing it to take price and re-accelerate growth despite the cautious consumer environment.
CORE TENSION
Can the Tide Evo launch offset slowing organic growth (1.5% in Q4) and a weak FY27 outlook, which the market punished?
PREVAILING SENTIMENT
The latest evidence favors the bears. The company's own lowered guidance for fiscal 2027 sales and earnings confirms a period of near-term weakness.
BEAR VIEW
In an inflationary environment, even superior products cannot overcome the consumer shift to value and private label, leading to market share erosion and margin pressure from increased promotions.
| Timeline | Event & Metric To Watch |
|---|---|
10/22/2026 | Negative Q1 Earnings Surprise Watch: Whether the reported Q1 EPS decline is worse than the guided "5% or more" and the organic sales trend. |
10/22/2026 | Q1 2027 Earnings Report Watch: The company's next quarterly earnings report is scheduled for release. |
10/29/2026 | Sustained Competitive Intensity Watch: Peer results confirming continued promotional spending and market share pressure, providing a negative read-through for PG's categories. |
11/2/2026 | Peer Earnings Report Watch: Peer Estee Lauder Companies (EL) is scheduled to report earnings. |
in the second quarter of fiscal year 2027 | Acquisition Integration Disruption Watch: Announcements of closing delays, higher-than-expected integration costs, or signs of management distraction from core business priorities. |
No set date | Worsening Cost Headwinds Watch: Sustained increases in Brent crude oil prices above $90/barrel or spikes in freight costs, which could worsen the already-negative Q1 EPS outlook. |
Thursday, November 19 | Company Investor Day Watch: The company will hold an Investor Day in Cincinnati. |
| Date | Event | Stock Impact |
|---|---|---|
2026-07-29 | New Chairman Appointed Details: The company announced that President and CEO Shailesh Jejurikar was appointed Chairman of the Board, effective August 1, 2026, as Executive Chairman Jon Moeller announced his retirement. | -3.3% $148.88 -> $143.96 |
2026-07-29 | FY2027 Guidance Lowered Details: Alongside Q4 results, the company issued new guidance for FY2027, lowering expectations for All-in Sales Growth, Diluted EPS Growth, and Core EPS Growth. | -3.3% $148.88 -> $143.96 |
2026-07-29 | Q4 FY26 Earnings Miss Details: For Q4, organic sales were flat and core EPS was $1.43, down 3% versus prior year. The stock reacted negatively, down 3.0% over two days. | -3.3% $148.88 -> $143.96 |
2026-04-24 | Q3 FY26 Earnings Report Details: The company reported net sales of $21.2 billion, an increase of seven percent year-over-year. Organic sales increased more than 3%. The two-day stock reaction was positive at 3.0%. | +2.6% $143.55 -> $147.30 |
2026-02-17 | Tide Evo Launch Details: The company unveiled Tide evo, a new fiber-detergent tile, described as a world-first laundry breakthrough and a concentrated, waterless format. | -2.0% $157.70 -> $154.54 |
Native Brand Reformulations Details: The Native brand announced upgraded deodorant and body wash offerings, including a new Detoxifying Body Scrub Collection and reformulated Moisturizing Body Wash. | - |
Position Sizing
2% - 4%
REDUCED POSITION
Sizing is volatility-based: PG trades at roughly 23% annualized options-implied volatility versus about 13% for the S&P 500 (1.7x the market), around the 85th percentile of its own trailing year. A 2% - 4% position keeps a single-name swing of that size within a diversified portfolio's risk budget.
Diversification Alternatives
CL - Colgate-Palmolive
Global Staples PeerColgate-Palmolive has demonstrated stronger recent top-line momentum, with 5.2% trailing-twelve-month revenue growth, and is taking "surgical actions" to improve its U.S. market share.
CHD - a business partner
Value-Oriented Competitora business partner portfolio is better positioned for the current value-seeking consumer, as evidenced by stronger recent organic sales growth of 5.8% and share gains from its power brands.
A consumer staples behemoth leveraging its scale and innovation engine to defend premium positioning in a value-conscious, slow-growth market.
Procter & Gamble operates a portfolio of dominant brands in non-discretionary categories, driving growth through a strategy of 'irresistible superiority'. This is funded by a relentless productivity program that fuels investment in innovation and marketing. The company is currently navigating a landscape of fragmented media and changing retail by focusing on strengthening its core brands (e.g., Tide liquid upgrade) and launching major new platforms (e.g., Tide Evo) to drive category growth and defend its market share.
A return to consistent market share gains, particularly in the U.S.; successful national launch and adoption of breakthrough innovations like Tide Evo; and margin expansion driven by productivity programs offsetting cost headwinds.
Sustained market share losses to private label or competitors; failure of new product platforms to gain traction or drive category growth; and an inability to offset cost inflation, leading to margin erosion.
Quarter-to-quarter volatility in shipments versus consumption due to retailer inventory adjustments, as noted by management in the Q4 earnings call.
Repricing Catalyst
A successful national launch of the Tide Evo platform, which could re-accelerate growth in the critical Fabric Care segment, and a demonstrated return to sustained market share growth in the U.S. market.
Fabric & Home Care
$30.3B TTM (35% of Total)What It Is
Sells a variety of fabric care products (laundry detergents, additives, fabric enhancers) and home care products (dishwashing liquids, surface cleaners, air fresheners) to consumers through retailers. Major brands include Tide, Ariel, Downy, Cascade, Dawn, and Febreze.
Who Pays & How
Consumers purchase these products through retailers. They choose these brands for their market leadership and performance, with the company holding over a 35% market share in fabric care and over 30% in home care in the markets it competes in.
Competition
Baby, Feminine & Family Care
$20.4B TTM (24% of Total)What It Is
Sells baby care products (diapers, wipes), feminine care products (menstrual care, adult incontinence), and family care products (paper towels, tissues, toilet paper) to consumers. Major brands include Pampers, Luvs, Always, Tampax, Bounty, and Charmin.
Who Pays & How
Consumers purchase these products through retailers. They choose these brands for their market leadership, with P&G holding over 30% global market share in baby care and nearly 30% in feminine care.
Competition
Beauty
$15.8B TTM (18% of Total)What It Is
Sells hair care, personal care, and skin care products to consumers. Major brands include Head & Shoulders, Pantene, Old Spice, Olay, and the super-premium SK-II.
Who Pays & How
Consumers purchase these products through various retail channels. They are chosen for brand recognition and performance, with P&G holding about 20% global market share in retail hair care and personal care.
Competition
Health Care
$12.4B TTM (14% of Total)What It Is
Sells oral care products (toothbrushes, toothpaste) and personal health care products (respiratory treatments, digestive wellness) to consumers. Major brands include Crest, Oral-B, Vicks, and Metamucil.
Who Pays & How
Consumers purchase these products through retailers and pharmacies. They are chosen for brand leadership, with P&G holding nearly 30% global market share in oral care.
Competition
Grooming
$6.9B TTM (8% of Total)What It Is
Sells blades and razors, pre- and post-shave products, and appliances like electric shavers to consumers. Major brands include Gillette, Venus, and Braun.
Who Pays & How
Consumers purchase these products through retailers. They choose these brands due to P&G's global market leadership, with over 50% share in the grooming market and over 60% in blades and razors.
Competition
Procter & Gamble — Investor Video Playlist
Industry Resources
| Consumer Staples Resources |
| FoodNavigator |
| Consumer Goods Technology (CGT) |
| Beverage Digest |
| Personal Care Products Resources |
| Cosmetics Design |
| Global Cosmetics Industry |
| Happi - Personal Care |
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
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