At a glance
Procter & Gamble Company is worth $379.10B, about 25 times its fiscal 2026 earnings. Revenue grew 3.3% to $87.03B in fiscal 2026, with 18.4% kept as profit; over 5 years it has grown 2.7% a year. It pays a 2.65% dividend yield, raised every year for at least 8 years, and returned $81.08B to shareholders in dividends and buybacks over FY2022–FY2026. The stock returned +11.9% over the past year with dividends reinvested and +5.3% a year over five years, against +11.5% and +11.7% for the S&P 500. At its worst it fell 22.9% in the 2020 crash (S&P 500: 33.7%) and 23.8% in the 2022 bear market (S&P 500: 24.5%), and was back at its earlier high 4 months and 16 months after the lows.
The business in plain English
Procter & Gamble makes and markets branded, daily-use household and personal-care products, sold in about 180 countries and territories. The company grew from a business William Procter and James Gamble founded in Cincinnati in 1837. It earns money by selling these products at prices that cover the cost of making them plus spending on research, advertising and promotions. In fiscal 2026 (the year ended June 30, 2026), revenue was $87.0 billion. The operating margin, the share of sales left after day-to-day running costs, was 22.7%.
The business has five segments. Fabric & Home Care is the largest, with $30.3 billion, or about 35% of fiscal 2026 sales. Baby, Feminine & Family Care brought in about 23%, Beauty 18%, Health Care 14% and Grooming 8%. Sales were split fairly evenly by region: about 52% came from outside the United States and 48% from the U.S.
P&G's customers are retailers and distributors, including mass merchandisers, grocery, drug and membership club stores, and online and social-commerce channels. It also sells directly to consumers. Walmart and its affiliates accounted for about 16% of fiscal 2026 sales, and the top ten customers about 43%. P&G competes with large and small rivals, including well-known global companies. It also competes with retailers' own store brands, known as private label.
Price history
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PG +11.9% over the year to Nov 2, 2026, total return with dividends reinvested.
How it makes money
By business segment
| Fabric & Home Care | $30.31B | 34.8% |
| Baby, Feminine & Family Care | $20.40B | 23.4% |
| Beauty | $16.02B | 18.4% |
| Health Care | $12.46B | 14.3% |
| Grooming | $6.92B | 7.9% |
By geography
| International | $45.30B | 52% |
| United States | $41.70B | 47.9% |
Latest results
- In Q1 FY2027 (ended Sep 30, 2026), revenue was $23.28B, up 4% from a year earlier, and net income was $4.73B (-0.4%).
- For fiscal 2026, revenue was $87.03B (+3.3% year over year; +2.7% a year from FY2021 to FY2026) with a 18.4% net margin.
Financial health check
| Revenue growth a year (FY2021–FY2026) | +2.7% watch |
|---|---|
| Operating margin | 22.7% good |
| Free cash flow margin | 17.4% good |
| Return on equity (FY2026) | 29.5% good |
| Return on assets (FY2026) | 12.7% good |
| Net cash (cash minus debt) | $-23.56B weak |
| Fiscal year | Revenue | Net income | Free cash flow |
|---|---|---|---|
| FY2021 | $76.12B | $14.31B | $15.58B |
| FY2022 | $80.19B | $14.74B | $13.57B |
| FY2023 | $82.01B | $14.65B | $13.79B |
| FY2024 | $84.04B | $14.88B | $16.52B |
| FY2025 | $84.28B | $15.97B | $14.04B |
| FY2026 | $87.03B | $16.05B | $15.15B |
Valuation snapshot
| Market value | $379.10B |
|---|---|
| P/E ratio | 24.7 |
| Dividend yield | 2.65% |
Rank among 1514 US companies
Market value at each year end
Procter & Gamble’s market value went from $225.00B at the end of 2016 to $379.10B on Nov 2, 2026, up 68%; since the end of 2025 it is up 14%.
Show as a table
| Year end | Market value | Change |
|---|---|---|
| Nov 2, 2026 | $379.10B | +13.8% |
| 2025 | $333.05B | -15.3% |
| 2024 | $393.11B | +13.8% |
| 2023 | $345.38B | -3.8% |
| 2022 | $359.15B | -8.4% |
| 2021 | $392.11B | +14.4% |
| 2020 | $342.63B | +11.1% |
| 2019 | $308.43B | +34.1% |
| 2018 | $229.95B | -1.4% |
| 2017 | $233.10B | +3.6% |
| 2016 | $225.00B |
Price behavior
| YTD | 1 yr | 3 yr | 5 yr | 10 yr | |
|---|---|---|---|---|---|
| PG price data to Nov 2, 2026 | +17.4% | +11.9% | +5.3% | +5.3% | +9.5% |
Show as a table
| Year | Price data |
|---|---|
| 2026 (to date) | +17.4% |
| 2025 | -12.2% |
| 2024 | +17.3% |
| 2023 | -0.8% |
| 2022 | -5.0% |
| 2021 | +20.5% |
| 2020 | +14.2% |
| 2019 | +39.7% |
| 2018 | +3.6% |
| 2017 | +12.7% |
| 2016 | +9.4% |
| 2015 | -10.0% |
| 2014 | +15.4% |
| 2013 | +23.7% |
| 2012 | +5.2% |
| 2011 | +7.0% |
| 2010 | +9.4% |
| 2009 | +1.2% |
| 2008 | -13.8% |
| 2007 | +16.6% |
| 2006 | +13.4% |
| 2005 | +7.2% |
| 2004 | +12.4% |
| 2003 | +18.5% |
| 2002 | +11.5% |
| 2001 | +3.1% |
| 2000 | -27.1% |
| 1999 | +21.6% |
| 1998 | +15.9% |
| 1997 | +49.2% |
| 2008 financial crisis stocks fell Oct 9, 2007 – Mar 9, 2009 | Lost 35.6% over that stretch · deepest drop along the way 39%, back to its old high 33.5 months after the low |
|---|---|
| 2020 COVID crash stocks fell Feb 19, 2020 – Mar 23, 2020 | Lost 22.1% over that stretch · deepest drop along the way 22.9%, back to its old high 4 months after the low |
| 2022 bear market stocks fell Jan 3, 2022 – Oct 12, 2022 | Lost 22.3% over that stretch · deepest drop along the way 23.8%, back to its old high 15.7 months after the low |
Insider activity
Form 4 filings from 2025-11-03 to 2026-11-03 (25 read): 0 open-market purchases and 6 sales ($8.3M).
| Date | Insider | Type | Value |
|---|---|---|---|
| Oct 23, 2026 | Shailesh Jejurikar Chairman, President and CEO, Director | sell | $5.7M |
| Oct 23, 2026 | Paul Gama CEO- Health Care | sell | $698K |
| Oct 23, 2026 | Balaji Purushothaman Chief Human Resources Officer | sell | $672K |
| Oct 5, 2026 | Andre Schulten Chief Financial Officer | sell | $569K |
| Oct 5, 2026 | Susan Street Whaley Chief Legal Officer & Secy | sell | $344K |
Who owns it
Large shareholders (13G filings)
| Vanguard Capital Management | 7.52% | Mar 31, 2026 |
ETFs with the most weight in PG
| IYK iShares U.S. Consumer Staples ETF | 15.4% |
| VDC Vanguard Consumer Staples ETF | 11.3% |
| FSTA Fidelity MSCI Consumer Staples Index ETF | 11.2% |
| XLP Consumer Staples Select Sector SPDR Fund | 9.05% |
| KXI iShares Global Consumer Staples ETF | 8.88% |
| DOGG FT Vest DJIA Dogs 10 Target Income ETF | 5.17% |
| SPHQ Invesco S&P 500® Quality ETF | 4.55% |
| HDV iShares Core High Dividend ETF | 4.41% |
What could go wrong
- Heavy reliance on Walmart and big retailers. Walmart and its affiliates made up about 16% of fiscal 2026 sales, and the top ten customers about 43%. A big change in those relationships, or in what these retailers order, could hurt results.
- Material, energy and tariff costs can squeeze profits. Almost all raw and packaging materials come from outside suppliers, some of them sole sources. Fuel and natural gas also matter. If costs or tariffs rise and P&G cannot pass them on, profits suffer.
- Currency swings and overseas controls. More than half of sales come from outside the U.S., so a stronger dollar can shrink reported results. Some countries impose currency, pricing or import controls that can trap cash abroad.
- Rivals, store brands and changing shopping habits. P&G competes with large and small rivals and with retailers' own store brands. Its growth targets depend on successful innovation and keeping up with digital selling platforms and changing consumer habits.
- Cost-cutting and restructuring must go smoothly. P&G's model relies on continued productivity gains to fund research and marketing. Its ongoing restructuring cut the workforce 4% to about 104,000 by June 30, 2026. Mishandling change or losing key people could hurt results.
- A downturn could pressure dividends and buybacks. Recession, inflation or social unrest can cut demand and strain customers and suppliers. P&G warns that if sales, income and cash flow fall short, expected buybacks and dividend payments could be affected.
Recent events
- Other company announcement
- Investor presentation or announcement
- Quarterly results released
- Shareholder vote results
- Investor presentation or announcement
- Executive or board change; Investor presentation or announcement
- Quarterly results released
- Investor presentation or announcement
- Investor presentation or announcement
- Quarterly results released
For income and retirement investors
P&G's annual dividend per share has risen at least 8 years in a row. It went from $3.24 in fiscal 2021 to $4.26 in fiscal 2026, about 5.6% a year on average. Fiscal 2026 dividends totaled $10.2 billion. That was about 64% of net income and 68% of free cash flow (the cash left after running the business and investing in equipment). The yield was 2.68% as of October 30, 2026. P&G also spent $33.9 billion on buybacks (share repurchases) over fiscal 2022–2026. The share count fell 3.3% between December 2021 and September 2026.
The shares still fell hard in past downturns. They dropped 39% from peak to low in the 2008 financial crisis and took about 33.5 months from the low to recover. They fell 22.9% in the 2020 COVID crash, recovering in about 4 months, and 23.8% in the 2022 market downturn, recovering in about 15.7 months. Like any single stock, P&G carries more risk than a diversified fund.
Questions investors ask
How does Procter & Gamble make money?
P&G makes money by selling branded, daily-use household and personal-care products in about 180 countries and territories. It sells through retailers and online channels, and directly to consumers. In fiscal 2026 (the year ended June 30, 2026), revenue was $87.0 billion and net income was $16.0 billion. Fabric & Home Care was the largest segment at about 35% of sales. Next came Baby, Feminine & Family Care at 23%, Beauty at 18%, Health Care at 14% and Grooming at 8%. Walmart and its affiliates accounted for about 16% of sales.
Does Procter & Gamble raise its dividend every year?
Yes, so far. P&G's annual dividend per share has risen at least 8 years in a row, from $3.24 in fiscal 2021 to $4.26 in fiscal 2026. That is about 5.6% a year. In fiscal 2026, dividends used about 64% of net income and 68% of free cash flow. P&G also spent $5.0 billion on buybacks that year. Past increases do not guarantee future ones. The company warns that weak sales or cash flow could affect expected dividend payments.
What is Procter & Gamble's dividend yield?
P&G's dividend yield was 2.68% as of October 30, 2026. The yield is the yearly dividend divided by the share price, so it falls when the price rises and rises when the price falls. On that date the shares traded at about 24.4 times fiscal 2026 earnings per share. This measure is called the price-to-earnings (P/E) ratio. Fiscal 2026 dividends were about $4.26 per share, and total dividends paid came to $10.2 billion.
How did P&G stock do in past market crashes?
P&G shares fell sharply in the 2008, 2020 and 2022 market declines, then recovered each time. They dropped 39% from peak to low in the 2008 financial crisis and needed about 33.5 months from the low to recover. In the 2020 COVID crash they fell 22.9% and recovered in about 4 months. In the 2022 market downturn they fell 23.8% and took about 15.7 months to recover. The largest peak-to-low drop in about 30 years of price history, through October 30, 2026, was 54.2%.
Which ETFs hold the most Procter & Gamble stock?
Consumer staples ETFs, which focus on companies selling everyday necessities, give P&G its largest weights. It made up about 15.4% of the iShares U.S. Consumer Staples ETF (IYK) and 11.3% of the Vanguard Consumer Staples ETF (VDC). It was 11.2% of the Fidelity MSCI Consumer Staples Index ETF (FSTA) and 9.05% of the Consumer Staples Select Sector SPDR Fund (XLP). Dividend-focused funds such as the iShares Core High Dividend ETF (HDV, 4.41%) also hold it. In all, 272 ETFs held the stock, and weights shift over time.