Short answer
Procter & Gamble (PG) filed its fiscal 2026 10-K annual report with the SEC on Aug 4, 2026. It reported revenue of $87.0B (+3.3% year over year) and net income of $16.0B.
- Top risk flagged: Regulatory risk: compliance with complex environmental and social laws, plus increased enforcement actions by multiple agencies globally
FY2026 key financial metrics · XBRL
- Revenue
- $87.0B
- +3.3% YoY
- Net income
- $16.0B
- +0.5% YoY
- Operating margin
- 22.7%
- −1.6 pp YoY
- EPS (diluted)
- $6.62
- +1.7% YoY
- ROE
- 29.5%
- −1.0 pp YoY
- Operating cash flow
- $19.6B
- +9.8% YoY
Source: XBRL data from the Procter & Gamble (PG) FY2026 10-K on SEC EDGAR. USD.
Procter & Gamble FY2026 10-K analysis
AI summary of each section, grounded in the filing text
Business Overview
- Core business model delivering daily-use consumer goods focused on product performance, packaging, brand communication, retail execution, and value
- No new products or segments introduced; ongoing emphasis on sustainability and reducing environmental footprint aligned with 2040 net zero ambition
- Strategic shift includes intensified restructuring program, reducing employee count 4% to ~104,000 versus prior year
- Top 10 customers represent ~43% of total net sales, with Walmart accounting for 16% consistently over last three years
- Sustainability efforts stressed by integration into business strategy, targeting greenhouse gas reduction across scopes 1, 2, and 3 with public Climate Transition Action Plan
Management Discussion & Analysis
- Revenue $87.0B, up 3% YoY; organic sales up 1%; Beauty +7%, Grooming +4%, Health Care +4%, Fabric & Home Care +2%, Baby, Feminine & Family Care +1% YoY
- Operating margin 22.7% vs 24.3% (-160 bps); gross margin 50.2% vs 51.2% (-100 bps); SG&A 27.5% vs 26.9% (+60 bps); net earnings margin 18.5% vs 19.1% (-60 bps)
- Best performing segment Beauty: sales $16.0B (+7%), net earnings $2.7B; worst performing segment Fabric & Home Care: sales $30.3B (+2%), net earnings $5.6B (-4%)
- Operating cash flow $19.6B (+10%), adjusted free cash flow $15.8B (+8%), adjusted free cash flow productivity 100%; capital expenditures $4.4B; dividends and buybacks $14.5B
- Management forecasts mid-to-high single-digit core EPS growth, organic sales growth above market, with risks from FX volatility, commodity costs, geopolitical tensions, and inflationary pressures
Risk Factors
- Regulatory risk: compliance with complex environmental and social laws, plus increased enforcement actions by multiple agencies globally
- Geopolitical risk: ongoing Russia-Ukraine war causing potential asset impairments and operational disruptions in Russia
- Supply chain risk: dependence on sole suppliers and manufacturing plants risking interruptions from labor disputes or climate events
- Market disruption risk: rapid evolution of digital commerce and consumer habits affecting competition and channel dynamics
- Financial risk: exposure to foreign currency fluctuations with over 50% net sales outside US impacting cash flows and interest expense
Generated from the filing text; verify against the original. How to read a 10-K
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