PG · 10-K · 2026A · Full report
Operating Cash Flow Trends
PROCTER & GAMBLE Co · 2026-08-04 · Importance 55 · Surprise 40 · No source text
Net cash provided by operating activities increased 10% to $19.6 billion in fiscal 2026 from $17.8 billion. Adjusted free cash flow increased 8% to $15.8 billion from $14.6 billion, with 100% adjusted free-cash-flow productivity in 2026. Inventory increases consumed $641 million of cash, while accounts payable increases generated $919 million, primarily reflecting higher supply-chain activity and marketing support.
Key facts
- Operating cash flow was $19.6 billion in 2026, a 10% increase versus the prior year. source
- Adjusted free cash flow was $15,835 million in 2026, an 8% increase versus the prior year. source
- Cash flow from operating activities was $19,556 million in fiscal 2026. source
- Adjusted free cash flow was $15.8 billion in fiscal 2026. source
- Adjusted free cash flow productivity was 100% in fiscal 2026. source
- Adjusted free cash flow productivity was 100% in 2026. source
- Net cash provided by operating activities was $19,556 million in 2026 versus $17,817 million in 2025. source
- Accounts payable increased, generating $919 million of cash, driven primarily by increased supply chain activity and increased marketing support activity. source
Impact estimates
| metric | direction | stage | expected | basis |
|---|---|---|---|---|
| cash | positive | realized | +1.4% | Operating cash flow was $19.6 billion in 2026, a 10% increase versus the prior year. |
| cash | positive | realized | +1.4% | Net cash provided by operating activities was $19,556 million in 2026 versus $17,817 million in 2025. |
| cash | positive | realized | +1.0% | Adjusted free cash flow was $15,835 million in 2026, an 8% increase versus the prior year. |
| cash | positive | realized | — | Adjusted free cash flow productivity was 100% in 2026. |