Stocks · Consumer products

The Procter & Gamble Company (PG)

$159.03

−0.56% last session

Market value

$370.7bn

P/E ratio

23.1

Dividend yield

2.49%

52-week range

$138–$167

What The Procter & Gamble Company does

The Procter & Gamble Company (The Procter & Gamble Company) is a world-leading multinational consumer goods company focused on providing trusted, branded products of superior quality, performance and value to improve the lives of consumers around the world - now and for generations to come. Our products are sold in about 180 countries and territories throughout the world. Additional information required by this item is incorporated herein by reference to Management's Discussion and Analysis (MD&A); and Notes 1 and 2 to our Consolidated Financial Statements.

Consumer products · based in the US · listed since 1950Company website ↗From the annual report ↗

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DGrowthBarely growing

Sales growth, last 12 months3.5% · 44/100

Sales growth a year, 5 years2.7% · 41/100

Earnings per share growth a year, 5 years3.8% · 45/100

AProfitabilityHighly profitable

Net profit margin18.2% · 86/100

Return on equity30% · 97/100

Return on capital, 10-year average17.8% · 82/100

BFinancial strengthStrong

Net debt ÷ operating profit1.0× · 80/100

Interest cover23× · 100/100

Current ratio (short-term assets ÷ debts)0.72 · 39/100

DValuationLooks expensive

P/E against its own 10-year history36th percentile · 64/100

Free cash flow yield4.2% · 67/100

PEG (P/E ÷ growth)6.1 · 10/100

Our base-case value vs price−4% · 46/100

BMomentumRising

Share price, last 12 months5.8% · 58/100

Share price, last 3 months9.2% · 73/100

Price

+4.7% over 1Y

27 Oct 2026$158.89

Daily closing prices. Source: Twelve Data.

If you'd invested £1,000

in pounds, including currency moves

Invested	Worth now	Per year	+ dividends received	Same in the S&P 500
1 year ago Oct 2025	£1,044	+4.4%	+£28	£1,114 index ahead
3 years ago Oct 2023	£969	−1.1%	+£74	£1,683 index ahead
5 years ago Oct 2021	£1,153	+2.9%	+£140	£1,739 index ahead
10 years ago Oct 2016	£1,681	+5.3%	+£363	£3,325 index ahead

Over 10 years, £1,000 became £2,044 including dividends. Past returns don't predict future ones.

Bull vs bear

The numbers are finely balanced (4 vs 6)

The bull case

Very high returns on capital●●○

Averages 18% after tax, a sign of a durable advantage (a 'moat').

Cash machine●○○

Turns 17% of revenue into free cash flow.

Reliable dividend grower●○○

Raised its dividend 8 years in a row.

The bear case

Little growth●●○

Revenue up only 2.9% a year over 10 years: barely ahead of inflation.

Questionable capital allocation●●○

Passes only 3 of 7 capital-allocation checks.

Has overpaid for deals before●○○

$6.6bn spent buying businesses since 2016; $6.8bn written off as overpaid. Goodwill is 32.6% of assets

Recoveries can take years●○○

Took 53 months to recover after the 1999 fall.

Can you answer every bear point? Put your answers in your thesis under risks.

See the full picture on The Procter & Gamble Company

Ten years of results, revenue by product and region, a management scorecard, bear/base/bull valuations, analyst targets, every SEC filing explained, and a thesis that checks itself after each report. Free.

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The Procter & Gamble Company (PG)

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