The Procter & Gamble Company (PG) quarterly cash flow statement — complete operating, investing & financing history
The Procter & Gamble Company (PG) cash flow statement — 30-year operating, investing & financing cash flows
| Metric | Q4'26 | Q3'26 | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 | Q2'23 | Q1'23 | Q4'22 | Q3'22 | Q2'22 | Q1'22 |
|---|
| Cash from Operations | 5.9B | 4.04B | 4.97B | 5.41B | 4.99B | 3.71B | 4.83B | 4.3B | 5.75B | 5.33B | 5.1B | 4.9B | 5.34B | 3.86B | 3.57B | 4.07B | 3.71B | 3.25B | 5.12B | 4.64B |
| Operating CF Margin % | 27.81% | 19.05% | 22.39% | 24.16% | 23.86% | 18.73% | 22.05% | 19.79% | 28.02% | 26.41% | 23.79% | 22.42% | 25.99% | 19.25% | 17.21% | 19.75% | 19.03% | 16.75% | 24.44% | 22.83% |
| Operating CF Growth % | 18.29% | 9.18% | 3.05% | 25.71% | -13.36% | -30.53% | -5.39% | -12.28% | 7.73% | 38.05% | 42.7% | 20.49% | 43.85% | 19.01% | -30.21% | -12.34% | -9.9% | -20.58% | -5.59% | -2.03% |
| Net Income | 3.08B | 3.95B | 4.33B | 4.78B | 3.63B | 3.79B | 4.66B | 3.99B | 3.14B | 3.75B | 3.47B | 4.56B | 3.39B | 3.4B | 3.93B | 3.96B | 3.06B | 3.37B | 4.22B | 4.13B |
| Depreciation & Amortization | 812M | 785M | 802M | 761M | 723M | 690M | 706M | 728M | 761M | 712M | 721M | 702M | 706M | 692M | 653M | 663M | 722M | 690M | 684M | 711M |
| Stock-Based Compensation | 130M | 132M | 141M | 121M | 112M | 123M | 136M | 105M | 129M | 158M | 150M | 125M | 139M | 156M | 145M | 105M | 130M | 130M | 152M | 116M |
| Deferred Taxes | -127M | -18M | 143M | 53M | -34M | -38M | 37M | 184M | -38M | -52M | -256M | 102M | -93M | 38M | -268M | -130M | -143M | -158M | -158M | 57M |
| Other Non-Cash Items | 1.54B | -345M | -749M | -4M | -1.9B | 79M | -2.21B | 794M | 322M | 1.37B | 1.5B | 205M | 165M | 165M | 186M | 61M | 141M | 32M | 19M | -29M |
| Working Capital Changes | 462M | -460M | 304M | -304M | 2.46B | -942M | 1.5B | -1.5B | 1.44B | -606M | -487M | -786M | 1.03B | -585M | -1.07B | -592M | -195M | -815M | 201M | -338M |
| Change in Receivables | 270M | -94M | 213M | -305M | 124M | 183M | -128M | -134M | -74M | 147M | -9M | -830M | -6M | 353M | 86M | -740M | 222M | -272M | 368M | -1.01B |
| Change in Inventory | -295M | -91M | 48M | -303M | 85M | -239M | 18M | -188M | -23M | -15M | 110M | -142M | 384M | 152M | 238M | -893M | 5M | -412M | -431M | -409M |
| Change in Payables | 723M | -43M | -409M | 648M | 1.12B | -509M | -509M | -648M | 1.76B | -246M | -555M | 857M | 922M | -786M | -1.32B | 1.5B | 82M | -84M | 170M | 1.26B |
| Cash from Investing | -1.2B | -665M | -1.23B | -1.53B | -1.06B | -726M | -921M | -1.11B | -518M | -2.01B | -1B | -1.22B | -798M | -1.38B | -490M | -832M | -682M | -1.78B | -960M | -1.01B |
| Capital Expenditures | -1.02B | -1.02B | -1.17B | -1.2B | -996M | -859M | -925M | -993M | -783M | -797M | -817M | -925M | -734M | -730M | -708M | -890M | -692M | -747M | -626M | -1.09B |
| CapEx % of Revenue | 4.82% | 4.8% | 5.25% | 5.36% | 4.77% | 4.34% | 4.23% | 4.57% | 3.81% | 3.95% | 3.81% | 4.23% | 3.57% | 3.64% | 3.41% | 4.32% | 3.55% | 3.85% | 2.99% | 5.36% |
| Acquisitions | 0 | -80M | 8M | -5M | 0 | -5M | 2M | -6M | 269M | -21M | 5M | 3M | -51M | -638M | -74M | -2M | 0 | -1.03B | -349M | 0 |
| Investments | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Other Investing | -173M | 434M | -69M | -330M | -67M | 138M | 2M | -109M | -4M | -1.19B | -190M | -300M | -13M | -12M | 237M | 5M | 11M | 2M | 12M | 85M |
| Cash from Financing | -7.05B | -1.83B | -4.09B | -2.24B | -3.62B | -4.21B | -5.57B | -634M | -2.5B | -4.27B | -6.05B | -2.04B | -3.89B | -1.75B | -2.99B | -3.51B | -4.16B | -4.43B | -2.86B | -3.43B |
| Debt Issued (Net) | 0 | 665M | 658M | 1.43B | -468M | -1.05B | -859M | 3B | 526M | -1.56B | -2.85B | 1.44B | -2.01B | 1.4B | 991M | 2.56B | -851M | -1.61B | 3.5B | 856M |
| Equity Issued (Net) | -741M | 39M | -2.41B | -1.12B | -700M | -735M | -2.51B | -1.94B | -1.52B | -419M | -1B | -1.5B | 0 | -1.35B | -2B | -4B | -1.25B | -1.25B | -4.75B | -2.1B |
| Dividends Paid | -2.61B | -2.53B | -2.54B | -2.55B | -2.55B | -2.43B | -2.44B | -2.44B | -2.45B | -2.29B | -2.29B | -2.29B | -2.29B | -2.22B | -2.23B | -2.25B | -2.26B | -2.15B | -2.17B | -2.18B |
| Share Repurchases | -875M | -625M | -2.28B | -1.25B | -700M | -1.35B | -2.51B | -1.94B | -1.52B | -987M | -1B | -1.5B | -408M | -1.35B | -2B | -4B | -1.25B | -1.25B | -4.75B | -2.75B |
| Other Financing | -3.7B | -1M | 210M | -2M | 105M | 1M | 239M | 745M | 940M | -2M | 88M | 311M | 408M | 424M | 249M | 188M | 205M | 585M | 567M | 0 |
| Net Change in Cash | -2.34B | 1.48B | -346M | 1.61B | 440M | -1.11B | -1.93B | 2.67B | 2.65B | -1.06B | -1.84B | 1.49B | 650M | 742M | 144M | -504M | -1.31B | -3.02B | 1.17B | 82M |
| Free Cash Flow | 4.87B | 3.03B | 3.81B | 4.21B | 3.99B | 2.85B | 3.9B | 3.31B | 4.97B | 4.54B | 4.28B | 3.98B | 4.61B | 3.13B | 2.87B | 3.18B | 3.02B | 2.5B | 4.5B | 3.55B |
| FCF Margin % | 22.99% | 14.25% | 17.13% | 18.8% | 19.1% | 14.39% | 17.82% | 15.22% | 24.21% | 22.46% | 19.98% | 18.19% | 22.42% | 15.61% | 13.8% | 15.43% | 15.48% | 12.89% | 21.45% | 17.46% |
| FCF Growth % | 22.19% | 6.32% | -2.44% | 27.17% | -19.74% | -37.26% | -8.94% | -16.84% | 7.88% | 44.78% | 49.44% | 25.13% | 52.5% | 25.37% | -36.24% | -10.47% | -11.33% | -27.16% | -7.45% | -8.67% |
| FCF per Share | 2.01 | 1.25 | 1.57 | 1.73 | 1.63 | 1.16 | 1.59 | 1.34 | 2.01 | 1.83 | 1.74 | 1.61 | 1.86 | 1.27 | 1.16 | 1.27 | 1.20 | 0.99 | 1.77 | 1.39 |
| FCF Conversion (FCF/Net Income) | 1.97x | 1.02x | 1.15x | 1.14x | 1.38x | 0.98x | 1.04x | 1.09x | 1.83x | 1.42x | 1.47x | 1.08x | 1.58x | 1.14x | 0.91x | 1.03x | 1.22x | 0.97x | 1.21x | 1.13x |
| Interest Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Taxes Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |