Company file · PG
Procter & Gamble
Procter & Gamble's sales grew 3% in fiscal 2026, and profit was flat
Net sales rose 3.3% to $87.0B in the year to Jun 30, 2026, while net earnings were $16.0B, up 0.5%. Fabric and home care was the largest segment at 35%.
Key facts
In fiscal 2026, which ended Jun 30, 2026, Procter & Gamble (NYSE: PG) took in $87.0B of net sales (up 3.3% on fiscal 2025); net earnings to P&G was $16.0B (up 0.5%). The most recent quarter, ended Sep 30, 2026, brought net sales of $23.3B, up 4.0% year over year, with net income of $4.7B. Fabric and home care was the biggest single line by segment: 35% of fiscal 2026 net sales. Sources: 10-K for fiscal 2026 (filed Aug 4, 2026) and 10-Q for the quarter ended Sep 30, 2026 (filed Oct 22, 2026).
Source: 10-K FY2026, filed Aug 4, 2026
Source: 10-Q filed Oct 22, 2026
How it makes money
Fabric and home care brought in $30.3B in FY2026, 35% of net sales. Baby, feminine and family care was 23%, Beauty 18%, Health care 14% and Grooming 8%.
Source: 10-K FY2026
What changed last quarter
Comparing Q1 FY2027 (Jul to Sep 2026) compared with Q1 FY2026 (Jul to Sep 2025)
Each pair of bars shows the dollar amount for both quarters. Longer bar, more money. Bars in a group share one scale.
Q1 FY2027Q1 FY2026
Company
Source: Procter & Gamble 10-Q for the quarter ended Sep 30, 2026, filed Oct 22, 2026
By segment
Source: Procter & Gamble 10-Q for the quarter ended Sep 30, 2026, filed Oct 22, 2026
The bull case and the bear case
The bull case
- Beauty sales rose 7.1% in FY2026 to $16.0B, the fastest of the five segments. 10-K, FY2026
- Operating cash flow rose 9.8% in FY2026 to $19.6B. 10-K, FY2026
- Net sales in the quarter ended Sep 30, 2026 were $23.3B, up 4.0% on a year earlier. 10-Q, quarter ended Sep 30, 2026
- Diluted shares fell from 2.47B in FY2024 to 2.42B in FY2026. 10-K, FY2026
The bear case
- Net earnings were $16.0B in FY2026, almost unchanged from $16.0B. 10-K, FY2026
- Baby, feminine and family care sales grew just 0.8% in FY2026. 10-K, FY2026
- Total debt was $38.9B at Sep 30, 2026, up from $34.1B at the end of FY2026. 10-Q, quarter ended Sep 30, 2026
- The 10-K lists commodity and input costs, currency moves and pressure from large retail customers among its risks. 10-K, Item 1A
What optimists and skeptics tend to point to, each tied to a filing. Ticker Sage doesn't pick a side, and neither list is a reason to buy or sell.
What the company does
Procter & Gamble makes household and personal-care brands such as Tide, Pampers, Charmin, Gillette, Olay, Oral-B and Head & Shoulders, sold in more than 180 countries.
P&G reports five segments: Fabric and home care (laundry, dish and surface care, air care), Baby, feminine and family care (diapers, wipes, paper towels, tissues, feminine care), Beauty (hair and skin care), Health care (oral care and personal health) and Grooming (razors and appliances).
It sells mainly through mass merchandisers, grocery stores, club stores, drugstores, distributors and online retailers. Its fiscal year ends on June 30, so FY2026 means the year to Jun 30, 2026.
Source: 10-K, Item 1 Business
Main risks the company lists
Our plain-English paraphrase of the risk factors in Procter & Gamble's latest 10-K. Read the original for the full list.
- CostsPrices of raw materials, packaging, energy and transport can rise faster than it can raise prices.
- Currency and internationalMost sales are outside the US, so exchange rates, local economies and trade rules affect results.
- CustomersA small number of large retailers account for a significant share of sales.
- Competition and brandsIt competes with global brands, local firms and store brands, and needs to keep its brands strong.
- Supply chainDisruptions at suppliers, plants or in logistics could interrupt supply.
- Technology and dataCyberattacks and IT failures could disrupt operations.
- Legal, tax and regulationChanges in tax law, product regulation and litigation can raise costs.
Source: 10-K, Item 1A Risk Factors (the full list, in the company's words)
Three years of key numbers
Every number links to its filing; hover for the XBRL tag. A dash means the number isn't cleanly available, and we don't estimate it.
| US$ | FY2024 | FY2025 | FY2026 |
|---|---|---|---|
| Net sales | $84.0B | $84.3B | $87.0B |
| Net earnings to P&G | $14.9B | $16.0B | $16.0B |
| Operating cash flow | $19.8B | $17.8B | $19.6B |
| Cash & equivalents (year end) | $9.5B | $9.6B | $9.9B |
| Total debt (year end) | $32.5B | $34.5B | $34.1B |
| Diluted shares | 2.47B | 2.45B | 2.42B |
- Net sales: Sales of household and personal-care products, after discounts and trade promotions.
- Net earnings to P&G: Net earnings attributable to Procter & Gamble, after the share belonging to minority owners.
- Operating cash flow: Cash the business brought in from its day-to-day operations during the year (cash flow statement).
- Cash & equivalents: Cash and cash equivalents as shown on the balance sheet.
- Total debt: Debt due within one year (including commercial paper) plus long-term debt, at carrying value.
- Diluted shares: Weighted average shares outstanding for the year, including the effect of options and stock awards.
About these numbers
- Corporate, which includes items not allocated to the five segments, is included in the annual segment chart but left out of the last-quarter changes because it isn't an operating business.
- Total debt is short-term borrowings plus current and long-term debt at carrying value, as tagged in the filing.
Recent filings
Latest filings
- Oct 2210:29 AM ET
8-K
Procter & Gamble files an 8-K on investor materials (Reg FD)
Procter & Gamble filed a Form 8-K on Oct 22, 2026 at 10:29 AM ET under Item 7.01 (Regulation FD Disclosure).
- Oct 227:02 AM ET
8-K
Procter & Gamble files an 8-K on quarterly results
Procter & Gamble filed a Form 8-K on Oct 22, 2026 at 7:02 AM ET under Item 2.02 (Results of Operations and Financial Condition).
- Oct 164:25 PM ET
8-K
Procter & Gamble files an 8-K on shareholder vote results
Procter & Gamble filed a Form 8-K on Oct 16, 2026 at 4:25 PM ET under Item 5.07 (Submission of Matters to a Vote of Security Holders).
- Oct 143:59 PM ET
Form 4
Procter & Gamble director Rajesh Subramaniam reports an award of 1,438 shares
The filing reports 1,438 shares in a grant or award (code A).
- Oct 143:58 PM ET
Form 4
Procter & Gamble director Robert Jones Portman reports an award of 1,438 shares
The filing reports 1,438 shares in a grant or award (code A).
Common questions about Procter & Gamble
How does Procter & Gamble make money?
In fiscal 2026, net sales totaled $87.0B. Fabric and home care brought in $30.3B in FY2026, 35% of net sales. Baby, feminine and family care was 23%, Beauty 18%, Health care 14% and Grooming 8%. Source: 10-K for fiscal 2026, filed Aug 4, 2026.
What was Procter & Gamble's revenue in fiscal 2026?
Net sales came to $87.0B in the year ended Jun 30, 2026. Going back two years, it was $84.0B in fiscal 2024 and $84.3B in fiscal 2025, so the latest year was up 3.3%. Source: 10-K for fiscal 2026, filed Aug 4, 2026.
Is Procter & Gamble profitable?
Yes, by US accounting rules (GAAP): net earnings to P&G was $16.0B in fiscal 2026, up 0.5% from $16.0B a year earlier. For the quarter ended Sep 30, 2026, net income was $4.7B. The page's About these numbers section explains what is included. Source: 10-K for fiscal 2026, filed Aug 4, 2026.
What did Procter & Gamble report in its latest quarterly filing?
The 10-Q for the quarter ended Sep 30, 2026 shows net sales of $23.3B, against $22.4B in the same quarter a year before (up 4.0%), and net income of $4.7B, against $4.8B (down 0.4%). Source: 10-Q for the quarter ended Sep 30, 2026, filed Oct 22, 2026.
How much cash and debt does Procter & Gamble have?
On Sep 30, 2026, cash and cash equivalents stood at $15.4B and total debt at $38.9B. Total debt here is debt due within one year (including commercial paper) plus long-term debt, at carrying value. Source: 10-Q filed Oct 22, 2026.
What are the main risks Procter & Gamble lists?
Item 1A of the fiscal 2026 10-K (filed Aug 4, 2026) sets out the risks. Grouped, they fall into 7 areas: Costs; currency and international; customers; competition and brands; supply chain; technology and data; legal, tax and regulation. To start with the first: Prices of raw materials, packaging, energy and transport can rise faster than it can raise prices. Source: 10-K, Item 1A Risk Factors.
Where do these Procter & Gamble numbers come from?
Two filings Procter & Gamble made with the SEC: its fiscal 2026 10-K, filed Aug 4, 2026, and its 10-Q for the quarter ended Sep 30, 2026, filed Oct 22, 2026. The figures are taken from the XBRL data the SEC publishes, and every one links back to its source. Methodology explains how fiscal years and missing numbers are handled.
Disclosures
- Editor holdings in PG
- The editor holds no position in Procter & Gamble (PG). As of Oct 25, 2026.
- Trading rule
- The editor does not buy or sell PG from 3 days before to 3 days after this page is published or substantively updated.
- Compensation
- Nobody paid for this page. No affiliate links on this page.
- Sources
- The company's SEC filings, linked next to each number or, for charts, in the source line under them.
- Last updated
- Oct 25, 2026
General education, the same for every reader. Not a recommendation to buy, sell or hold PG, and it doesn't consider your situation.
Compare with peers
| Company | Fiscal year | Revenue | Revenue growth | Net income |
|---|---|---|---|---|
| Procter & GamblePG | FY2026 | $87.0B | +3.3% | $16.0B |
| Coca-ColaKO | FY2025 | $47.9B | +1.9% | $13.1B |
| Philip Morris InternationalPM | FY2025 | $40.6B | +7.3% | $11.3B |
| WalmartWMT | FY2026 | $713.2B | +4.7% | $21.9B |
Each row is that company’s latest fiscal year from its own 10-K, using its own revenue and net income lines. Fiscal years end in different months, and line definitions differ (banks, insurers and oil companies count revenue differently), so this is a rough side-by-side, not a like-for-like comparison.
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New to filings? Learn lists the first explainer topics. Methodology & Disclosures covers where every number comes from.