Procter & Gamble (PG)
Forward P/E 22.51x (SECONDARY, stockanalysis.com) vs peer median 23.58x and trailing P/E 23.99x vs a ~24.7x-25.3x 5-year average trailing P/E — mid-pack versus peers and at/below its own history. Not undervalued: PEG 4.84 on only +4.0% latest-quarter growth (3-year EPS forecast +4.10%, SECONDARY) is a full defensive premium; not overvalued, because the multiple is stretched versus neither peers nor history.
What would change this label: Re-rate OVERVALUED if forward P/E expands above ~26x while revenue growth slows below 2% for two consecutive quarters; re-rate UNDERVALUED if it de-rates below ~18x forward with growth holding at >=3% and gross margin near 50%.
Procter & Gamble trades at about 23 times next year's expected earnings, about the same as its rival group and about its usual price over the past five years. That looks fair: sales are growing only about 4%, so this is a full price for a very steady, defensive business, not a bargain. You are paying for reliability — strong brands, near-50% gross margins and steady cash flow — not for fast growth.
Both lines start at 100 on 2020-09-01. Over the full window Procter & Gamble returned +15.23% and the S&P 500 +118.28% (price returns; dividends not reinvested). Worst peak-to-trough fall for Procter & Gamble: -24.6% (2022-01-05 to 2022-10-10). Source: Nasdaq official daily history.
What the label rests on
Forward P/E 22.51x (SECONDARY, stockanalysis.com) vs peer median 23.58x and trailing P/E 23.99x vs a ~24.7x-25.3x 5-year average trailing P/E — mid-pack versus peers and at/below its own history. Not undervalued: PEG 4.84 on only +4.0% latest-quarter growth (3-year EPS forecast +4.10%, SECONDARY) is a full defensive premium; not overvalued, because the multiple is stretched versus neither peers nor history. The company’s forward P/E is 22.5× against a peer median of 23.6×. Its own history: Trailing P/E 23.99x vs 5-year average trailing P/E ~24.7x-25.3x (FinanceCharts ~24.71x / Public.com 25.31x, SECONDARY); annual period-end P/E ranged 21.72x-26.69x over FY2022-FY2026 (FullRatio/Wisesheets, SECONDARY) — current multiple slightly below own 5-year average.. Sector demand read: Staple demand slow but steady and defensive: revenue +4.0% YoY at 49.8% gross margin, $15.3B TTM FCF, shallowest 6-year drawdown in the pilot (-24.6%) — no acceleration evidenced or required by the price. Latest-quarter sales growth was +4.0% versus a year earlier (SEC filings).
| Company | Price (Oct 27, 2026) | Forward P/E | Trailing P/E |
|---|---|---|---|
| Procter & Gamble (PG) | $159.23 | 22.5× | 24.0× |
| PEP | $133.50 | 15.8× | 16.8× |
| KO | $91.18 | 26.3× | 26.9× |
| CL | $92.17 | 23.6× | 36.4× |
| KMB | $109.10 | 15.5× | 18.6× |
| CHD | $105.01 | 26.8× | 33.7× |
| Peer median | 23.6× |
Multiples: stockanalysis.com (SECONDARY, S&P Global data), fetched Oct 28, 2026. Peer set chosen by sector; the median is the middle value of the set. The label and its numbers were recorded in the programme’s label registry on Oct 28, 2026 and will be scored at 6 and 12 months.
Sales, profit and cash
Gross margin = gross profit divided by sales, from SEC filings. Gross profit basis: tagged GrossProfit where present; otherwise computed as revenue minus CostOfGoodsAndServicesSold (both EDGAR-tagged; the filer retired the GrossProfit tag mid-window).
Free cash flow = cash from operations minus spending on plant and equipment, both from the company’s SEC cash-flow statement. Gaps are quarters where that spending line is not separately tagged in the filings — shown as gaps, never estimated.
| Quarter | Sales | Gross margin | Net income | EPS (GAAP, diluted) | Free cash flow |
|---|---|---|---|---|---|
| Q/E Sep 2026 2026-09-30 | $23.3B | 49.8% | $4.7B | 1.97 | $4.4B |
| Q/E Jun 2026 2026-06-30 | $21.2B | 48.5% | $3.0B | — | $4.1B |
| Q/E Mar 2026 2026-03-31 | $21.2B | 49.5% | $3.9B | 1.63 | $3.0B |
| Q/E Dec 2025 2025-12-31 | $22.2B | 51.2% | $4.3B | 1.78 | $3.8B |
| Q/E Sep 2025 2025-09-30 | $22.4B | 51.4% | $4.8B | 1.95 | $4.2B |
| Q/E Jun 2025 2025-06-30 | $20.9B | 49.1% | $3.6B | — | $4.0B |
| Q/E Mar 2025 2025-03-31 | $19.8B | 51.0% | $3.8B | 1.54 | $2.8B |
| Q/E Dec 2024 2024-12-31 | $21.9B | 52.4% | $4.6B | 1.88 | $3.9B |
| Q/E Sep 2024 2024-09-30 | $21.7B | 52.1% | $4.0B | 1.61 | $3.3B |
| Q/E Jun 2024 2024-06-30 | $20.5B | 49.6% | $3.1B | — | $5.0B |
| Q/E Mar 2024 2024-03-31 | $20.2B | 51.2% | $3.8B | 1.52 | $3.3B |
| Q/E Dec 2023 2023-12-31 | $21.4B | 52.7% | $3.5B | 1.40 | $4.3B |
The last twelve reported quarters. Full 25-quarter history sits in the data pack behind this page. A dash means the figure is not tagged as a standalone quarter in the company’s SEC facts (the usual case is the fourth quarter, which many companies only report inside the full-year filing) — it is missing, not zero.
Earnings: getting better or worse?
Each box is one quarter’s earnings per share (EPS). Green means EPS was higher than the same quarter a year earlier; red means lower; a dash means the figure is not tagged in the filings.
Basis: GAAP diluted EPS from SEC company facts, compared with the same quarter a year earlier.
Key facts
| Item | Value |
|---|---|
| Company (legal name in filings) | PROCTER & GAMBLE Co |
| Chief executive | Shailesh Jejurikar (source: P&G succession announcement (July 2025) — Shailesh Jejurikar, previously COO, succeeded Jon R. Moeller as President and CEO effective Jan 1, 2026 (Moeller became Executive Chairman), as reported by PTI/company statement and BBN Times/Beauty Packaging profiles; Jejurikar also became Chairman effective Aug 1, 2026 — fetched Oct 28, 2026) |
| Sector | Consumer Staples — Consumer staples — household & personal products |
| Share price (Oct 27, 2026) | $159.23 |
| Market value (market cap) | $369.1B — share price times shares outstanding of 2,317,783,143 (SEC filings; SEC EDGAR dei EntityCommonStockSharesOutstanding (latest)) |
| Sales, last twelve months | $87.9B |
| Net income, last twelve months | $16.0B |
| Free cash flow, last twelve months | $15.3B |
| Latest reported quarter | Q/E Sep 2026 (of 25 quarters in the data pack) |
| Six-year price return vs S&P 500 | +15.23% vs +118.28% |
| Worst peak-to-trough fall | -24.6% (2022-01-05 to 2022-10-10) |
What we could not verify
- TTM GAAP diluted EPS could not be summed from company facts because at least one of the last four quarters (typically Q4) has no standalone tagged EPS; trailing P/E is therefore taken from the labelled secondary source in valuation_label.md.
- TTM GAAP diluted EPS from EDGAR — standalone Q4 EPS is not tagged, so trailing P/E (23.99x) is the stockanalysis.com SECONDARY figure, not a primary computation
- Own-history forward P/E range on a single consistent basis — stockanalysis.com ratios page publishes no P/E history series; own-history context uses trailing-P/E averages from FinanceCharts/Public.com/FullRatio (SECONDARY), stated as a ~24.7x-25.3x range because methodologies differ
- PG gross profit is computed as revenue minus cost of products sold (both EDGAR-tagged; PG does not tag GrossProfit itself) — basis recorded in financials_quarterly.json
- Guidance record (each quarter scored against the guidance the company gave the quarter before) is not yet compiled for this company — it is a Phase 2 layer. The earnings strip below therefore uses reported EPS versus a year earlier, which is fully sourced from filings.
The IT factor — the most exciting thing the market is overlooking — is not assessed on an X-Ray page. It belongs to the Deep Dive (Phase 2), where it gets the evidence standard it needs. Leadership-era scoring (the six years split by chief executive) is likewise a Phase 2 layer; this page names the current chief executive only, from a sourced profile.
Sources
- SEC EDGAR submissions — Filing index; company legal name.
https://data.sec.gov/submissions/CIK0000080424.json - SEC EDGAR company facts — Quarterly financial spine: revenue, gross profit, net income, GAAP diluted EPS, operating cash flow, PP&E capex, buybacks, dividends, diluted shares.
https://data.sec.gov/api/xbrl/companyfacts/CIK0000080424.json - Nasdaq official daily history — Daily closes for the company; SPY (assetclass=etf) saved as raw/nasdaq_spy_raw.json over identical dates.
https://api.nasdaq.com/api/quote/PG/historical?assetclass=stocks - Valuation multiples and peer figures — stockanalysis.com (SECONDARY, S&P Global data), fetched Oct 28, 2026; see valuation_label.md in the data pack.
Conventions: earliest-filed value per period, as first reported; cash-flow years-to-date differenced quarter by quarter; EPS never differenced; free cash flow = operating cash flow minus plant-and-equipment spending. This page is a dated snapshot — updates are new versions, never silent edits.