PROCTER & GAMBLE Co

Company facts

Industry

Soap, Detergents, Cleang Preparations, Perfumes, Cosmetics

Headquarters

Cincinnati, Ohio

Most recent report

10-K, filed Aug 4, 2026

Incorporated

Ohio

Filings on record

1,002+ filings

On EDGAR

CIK 80424

Fiscal year ends

June

Filer status

Large accelerated filer

What to read: FY2026 10-K

SECSift found 4 of 27 sections worth reading, with 2 positive, 11 notable, and 3 negative flags.

• Risk Factors (Item 1A)

  Added Middle East conflict risk, updated Russia exit language, dropped pandemic risk.
  Notable

  • Operating country count dropped from about 70 to approx 65, likely due to Russia or other exits.
  • Russia risk now warns of possible full exit due to sanctions and export controls.
  • Cybersecurity risk now includes AI-specific threats for faster, autonomous attacks.
  • 2025 U.S. Tax Act and Pillar Two assessed as not material to FY2026 results.
  Negative

  • New Middle East conflict risk could disrupt operations and financial results in FY2026.

• Market for the Stock (Item 5)

  Shareholder return declined; buyback value decreased from $6.5B to $5B.
  Notable

  • Share repurchases totaled $5 billion in FY2026, down from $6.5 billion in FY2025.

• Management's Discussion (Item 7)

  Full of company-specific numbers: sales, margins, segments, restructuring, cash flow, and risks.
  Positive

  • Operating cash flow rose 10% to $19.6 billion; adjusted free cash flow productivity hit 100%.
  • Net sales up 3% to $87.0 billion in FY2026, driven by 2% FX benefit and 1% pricing.
  Notable

  • Restructuring plan to cut up to 7,000 jobs; $903M after-tax charge in FY2026, $1.5-$2.0B total expected.
  • Glad JV dissolved; Clorox paid $476M, P&G recorded $261M after-tax gain in FY2026.
  • U.S. IEEPA tariffs: $200M paid; $100M recovery recognized in Q4 FY2026.
  • Inventories consumed $641M cash, days inventory on hand up two days due to safety stock.
  • Total debt $34.5B; $11.4B due within one year; current liabilities exceed current assets by $12.5B.
  • Gillette indefinite-lived intangible at $12.8B; fair value exceeds carrying by >10% but remains at risk.
  Negative

  • Organic sales grew only 1%; Baby, Feminine & Family Care organic sales declined 1%.

• Financial Statements (Item 8)

  Core financial data with new restructuring plan, $3.8B acquisition, and customer concentration.
  Negative

  • Walmart accounts for 16% of net sales, a single-customer concentration.

What changed: FY2026 vs. FY2025

About 7% of PG's FY2026 10-K is new information. 57 paragraphs were added, 290 changed, and 90 removed. Below are the most important lines SECSift identified.

• Management's Discussion (Item 7) 113
• Financial Statements (Item 8) 87
• Exhibits (Item 15) 40
• Risk Factors (Item 1A) 27
• Form 10-K Summary (Item 16) 16
• Mine Safety (Item 4) 8
• Business (Item 1) 6
• Security Ownership (Item 12) 4
• Controls and Procedures (Item 9A) 2