PG · 10-K · 2026A

PROCTER & GAMBLE Co

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

Ranked Events

• Gillette Intangible Impairment RiskImportance 64 · Surprise 42
  Gillette’s indefinite-lived intangible asset had a $12.8 billion carrying value at June 30, 2026 and remained susceptible to impairment despite fair value exceeding carrying value by more than 10% at the December 31,…
• Acquisition / Partnership / DivestitureImportance 59 · Surprise 60
  On August 4, 2026, P&G entered into an agreement to acquire Thorne, a premium wellness and supplements brand. The transaction value is $3.8 billion, making it material relative to P&G’s fiscal 2026 revenue and assets.…
• Long-term Growth OutlookImportance 56 · Surprise 42
  P&G expects its long-term growth algorithm to support total shareholder returns in the top third of its fast-moving consumer goods peer group. The framework targets organic sales growth above market growth rates in the…
• Liquidity and Debt PositionImportance 49 · Surprise 6
  At June 30, 2026, current liabilities exceeded current assets by $12.5 billion, largely because of accounts payable, short-term borrowings, and debt due within one year. P&G held $8.9 billion of cash and cash…
• Segment Revenue — Baby, Feminine & Family CareImportance 49 · Surprise 32
  Baby, Feminine & Family Care net sales increased 1% to $20.4 billion in 2026 from $20.2 billion in 2025, driven by a 2% favorable foreign-exchange impact partly offset by a 1% unit-volume decline. Organic sales…
• Market Demand TrendsImportance 49 · Surprise 32
  Fiscal 2026 organic sales increased 1%, with mid-single-digit growth in Beauty and low-single-digit growth in Health Care, Grooming and Fabric & Home Care, while Baby, Feminine & Family Care declined low single digits.…
• Operating Margin DriversImportance 49 · Surprise 32
  Operating income decreased $703 million, or 3%, to $19.7 billion in fiscal 2026 despite the $2.7 billion increase in net sales. Operating margin declined 160 basis points to 22.7% because the 100-basis-point…
• Operating Expense TrendsImportance 49 · Surprise 32
  Total SG&A increased 6% to $23.9 billion and rose 60 basis points to 27.5% of net sales in fiscal 2026. Marketing spending increased 80 basis points as a percentage of sales, although productivity savings partially…
• Gross Margin DriversImportance 49 · Surprise 32
  Consolidated gross margin declined 100 basis points to 50.2% of net sales in fiscal 2026. Unfavorable product mix reduced gross margin by 120 basis points, product and packaging investments by 70 basis points, higher…
• Revenue Performance and MixImportance 49 · Surprise 32
  Fiscal 2026 net sales increased 3% to $87.0 billion from $84.3 billion, driven by a 2% favorable foreign-exchange impact and 1% pricing benefit, while unit volume and mix were unchanged. Organic sales increased 1%,…
• Adjusted Free Cash FlowImportance 48 · Surprise 14
  Operating cash flow increased 10% to $19.6 billion in 2026 from $17.8 billion in 2025. Adjusted free cash flow increased 8% to $15.8 billion from $14.6 billion, primarily because of higher operating cash flow. Adjusted…
• U.S. Tariffs 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…
• Focused Portfolio RestructuringImportance 46 · Surprise 42
  P&G announced a focused portfolio, supply-chain and productivity plan in June 2025 with expected pretax restructuring costs of approximately $1.5 billion to $2.0 billion over two years. The company incurred more than…
• Corporate Revenue and EarningsImportance 44 · Surprise 58
  Corporate net sales increased 16% to $919 million in 2026 from $794 million in 2025, driven by incidental businesses managed at the corporate level. Corporate net earnings improved by $504 million to a $23 million…
• Net Earnings and ProfitabilityImportance 43 · Surprise 32
  Net earnings decreased 4% to $5.6 billion in 2026, as net earnings margin declined 110 basis points. The margin reduction reflected a 140-basis-point gross-margin decline, partly offset by lower SG&A as a percentage of…
• Capital ExpendituresImportance 41 · Surprise 22
  Capital spending was $4.409 billion in 2026, up from $3.773 billion in 2025. Net investing activities used $4.6 billion of cash, primarily for capital expenditures and settlement of net investment hedges. Capital…
• Geographic Revenue ConcentrationImportance 38 · Surprise 6
  P&G generates more than half of its sales outside the United States, with Greater China, the United Kingdom, Canada, Japan and Germany representing approximately 21% of fiscal 2026 net sales collectively. The Company…
• Geographic Market CommentaryImportance 37 · Surprise 32
  Beauty was strongest in Latin America, Europe and Asia Pacific, while North America hair care and skin care declined because of competitive activity and North American skin care also faced weaker volume. Greater China…
• Commodities and Input CostsImportance 36 · Surprise 40
  Higher commodity costs contributed to a 140-basis-point decline in consolidated gross margin in fiscal 2026, partially offset by productivity savings. In Baby, Feminine & Family Care, lower commodity costs partially…
• Income Tax Rate ChangesImportance 34 · Surprise 42
  Operating cash flow included a $333 million reduction from other impacts, primarily reflecting the final payment of the transitional tax related to the 2017 U.S. Tax Act. P&G’s fiscal-2026 core earnings reconciliation…

Revenue by Product (in millions)

Revenue by Geography (in millions)