PROCTER & GAMBLE Co
$169.80
+1.77 (+1.05%) · delayed · Nov 13, 2026
Five-year price
52w $137.62 to $170.73
- Market cap
- $393.6B
- Enterprise value
- $412.9B
- P/E
- 25.6×
- 26.6× on 3y avg EPS
- EV / EBIT
- 20.9×
- FCF yield
- 3.8%
- ROIC
- 21.2%
- Debt / equity
- 0.54
- Piotroski F
- 6/9
Value scorecard · FY2026
Does it pass the value tests?
Quality
83
- ●ROIC > 12% (5y avg)5y avg ROIC 21.7%
- ●ROE > 15% (5y avg)5y avg ROE 30.4%
- ●Stable operating marginsMargin volatility 0.8% (σ, 5y)
- ●Earnings convert to cashFCF / net income 96% (5y avg)
- ○Growing revenueRevenue CAGR 5y 2.7%
- ●Shrinking share countDiluted shares -6.9% over 5y
Value
0
- ○P/E below 15P/E 25.6
- ○EV/EBIT below 12EV/EBIT 20.9
- ○FCF yield above 6%FCF yield 3.8%
- ○Price below Graham NumberGraham Number $59.08
- ○P/B below 3P/B 7.2
Safety
60
- ○Debt / equity below 0.5D/E 0.54
- ●Debt payable in < 4 yrs of earningsNet debt $19.4B
- ●Interest coverage > 8xCoverage 22.5x
- ○Current ratio > 1.5Current ratio 0.68
- ●Piotroski F-score ≥ 6F-score 6/9
Graham Defensive
57
- ●Adequate size (revenue > $2B)Revenue $87.0B
- ○Strong condition (current ratio ≥ 2)Current ratio 0.68
- ●Earnings stability (no loss, 10y)10 years of data
- ●Uninterrupted dividendsDividends paid every year on record
- ●Earnings growth ≥ 33% (10y, 3y avgs)EPS growth 79%
- ○Moderate P/E (≤ 15 on 3y avg EPS)P/E (3y avg) 26.6
- ○P/E × P/B ≤ 22.5Product 192.8
Valuation lab
What do you have to believe?
At $169.80, the market is pricing in about 9.7% annual free-cash-flow growth for the next decade (9% discount rate, 2.5% terminal growth).
Starting cash flow
Net debt $19.4B · 2318M shares · 5y revenue CAGR 2.7%
Intrinsic value
$98.65
Price
$169.80
Premium paid
72%
What the price implies
The market is paying for 9.7% annual cash-flow growth for 10 years at a 9.0% discount rate.
Terminal value share
55% of the value sits beyond year 10.
Financial statements
A decade of the record.
USD millions · fiscal years · source: SEC 10-K XBRL
| Line item | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 65,058 | 66,832 | 67,684 | 70,950 | 76,118 | 80,187 | 82,006 | 84,039 | 84,284 | 87,032 |
| Gross profit | — | — | — | — | — | — | — | — | — | — |
| Operating income | 13,766 | 13,363 | 5,487 | 15,706 | 17,986 | 17,813 | 18,134 | 18,545 | 20,451 | 19,748 |
| Operating margin | 21.2% | 20.0% | 8.1% | 22.1% | 23.6% | 22.2% | 22.1% | 22.1% | 24.3% | 22.7% |
| Pre-tax income | — | — | — | — | — | 17,995 | 18,353 | 18,761 | 20,167 | 20,377 |
| Income tax | 3,063 | 3,465 | 2,103 | 2,731 | 3,263 | 3,202 | 3,615 | 3,787 | 4,102 | 4,233 |
| Net income | 15,326 | 9,750 | 3,897 | 13,027 | 14,306 | 14,742 | 14,653 | 14,879 | 15,974 | 16,046 |
| EPS (diluted) | 5.59 | 3.67 | 1.43 | 4.96 | 5.50 | 5.81 | 5.90 | 6.02 | 6.51 | 6.62 |
| Diluted shares | 2,740 | 2,657 | 2,540 | 2,626 | 2,601 | 2,539 | 2,484 | 2,472 | 2,454 | 2,423 |
Who owns it