PG · 10-K · 2026A

PROCTER & GAMBLE Co

Filed 2026-08-04 · Industrials · View original filing on EDGAR

Ranked Events

• Acquisition / Partnership / DivestitureImportance 59 · Surprise 60
  In January 2026, Clorox purchased P&G's minority interest in the Glad joint venture for $476 million when the joint venture agreement expired, and P&G recorded a $261 million after-tax gain from the dissolution. On…
• Macroeconomic Factors ImpactImportance 56 · Surprise 24
  P&G identified foreign-currency devaluation, increasing global inflation, economic recession and geopolitical conflict as macroeconomic conditions that could reduce cash flows supporting the Gillette indefinite-lived…
• Operating Cash Flow TrendsImportance 55 · Surprise 40
  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…
• Capital Return ProgramImportance 50 · Surprise 24
  P&G generated $19.6 billion of operating cash flow in fiscal 2026, up 10% year over year, and $15.8 billion of adjusted free cash flow, up 8%. Operating cash is primarily used to fund shareholder dividends, while other…
• Outstanding IndebtednessImportance 49 · Surprise 6
  Total debt was $34.5 billion at June 30, 2026, including $11.4 billion due within one year and $12.7 billion due after five years. Total contractual commitments were $45.8 billion, including $6.1 billion of…
• Market Demand TrendsImportance 49 · Surprise 32
  Baby, Feminine & Family Care net sales rose 1% to $20.4 billion, but organic sales declined 1% as unit volume fell 1% and global segment market share decreased 0.2 points. Baby Care showed the strongest demand, with…
• Operating Expense TrendsImportance 49 · Surprise 32
  Total SG&A increased 6% to $23.9 billion in fiscal 2026 and rose 60 basis points to 27.5% of net sales. Marketing spending increased 80 basis points of sales, partly offset by productivity savings, while overhead costs…
• Guidance / OutlookImportance 48 · Surprise 60
  P&G’s long-term growth algorithm targets organic sales growth above market growth rates in its categories and geographies, Core EPS growth in the mid-to-high single digits, and adjusted free cash flow productivity of…
• Supply Chain Tariff ImpactImportance 47 · Surprise 60
  On February 20, 2026, the U.S. Supreme Court ruled that tariffs imposed under the International Emergency Economic Powers Act were invalid. P&G had previously paid approximately $200 million in IEEPA tariffs that may…
• Headcount / RestructuringImportance 46 · Surprise 42
  P&G announced a focused portfolio, supply chain and productivity plan in June 2025 that is expected to generate approximately $1.5 billion to $2.0 billion of before-tax restructuring costs over two years. The Company…
• FX / Currency HeadwindsImportance 31 · Surprise 32
  Foreign exchange affected the Company’s international operations, including a favorable 2% impact on Baby, Feminine & Family Care net sales in fiscal 2026 and lower foreign exchange transactional charges in SG&A. The…
• Gross Margin DriversImportance 31 · Surprise 32
  Company-wide gross margin declined 140 basis points in fiscal 2026, driven by unfavorable product mix and higher commodity costs, partly offset by productivity savings. Baby, Feminine & Family Care gross margin…
• Liquidity and Cash PositionImportance 31 · Surprise 6
  P&G held $8.9 billion of cash and cash equivalents related to foreign subsidiaries at June 30, 2026, primarily in Europe and Asia. Current liabilities exceeded current assets by $12.5 billion, largely because of…
• Product Innovation and SuperiorityImportance 31 · Surprise 32
  Innovation drove unit-volume growth in Beauty hair care across Latin America, Europe and Asia Pacific, and supported personal-care volume growth in Greater China, North America and Europe. The SK-II super-premium brand…
• Revenue Performance and MixImportance 31 · Surprise 32
  Fiscal 2026 net sales increased 3% to $87.032 billion from $84.284 billion, driven by 2% favorable foreign exchange and 1% pricing, while unit volume and mix were unchanged. Beauty grew 7% to $16.023 billion on 4%…
• Competition and Market ShareImportance 20 · Surprise 24
  P&G described competition from global, regional and local branded products as well as retailer private-label products across multiple price tiers and sales channels. Global market share declined 0.3 points in Beauty,…

Revenue by Product (in millions)

Revenue by Geography (in millions)