PG · 8-K · 20260729PR000097
Adjusted Free Cash Flow
PROCTER & GAMBLE Co · 2026-07-29 · Importance 37 · Surprise 6 · No source text
FY 2026 operating cash flow was $19.556 billion and capital spending was $4.409 billion. Adjusted free cash flow was $15.835 billion after $688 million of payments related to the 2017 U.S. Tax Act. Adjusted free cash flow productivity was 100% based on $15.883 billion of adjusted net earnings. Q4 FY 2026 adjusted free cash flow was $4.108 billion, with 133% adjusted free cash flow productivity.
Key facts
- FY 2027 Adjusted Free Cash Flow Productivity guidance: 85% to 90% source
- Adjusted free cash flow for fiscal year ended June 30, 2026: $15,835 million source
- Three months ended June 30, 2026 Operating cash flow: $5,131 million; Capital spending: $(1,023) million; Adjusted free cash flow: $4,108 million; Net earnings: $3,081 million; Adjusted free cash flow productivity: 133% source
- Adjusted free cash flow productivity for fiscal year ended June 30, 2026: 100% source
Impact estimates
| metric | direction | stage | expected | basis |
|---|---|---|---|---|
| cash | positive | realized | +12.3% | Adjusted free cash flow for fiscal year ended June 30, 2026: $15,835 million |
| cash | unclear | probable | — | FY 2027 Adjusted Free Cash Flow Productivity guidance: 85% to 90% |