Common-Size Balance Sheet: Assets
Quarterly Data
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Procter & Gamble Co. pages available for free this week:
- Income Statement
- Balance Sheet: Liabilities and Stockholders’ Equity
- Cash Flow Statement
- Analysis of Liquidity Ratios
- Analysis of Long-term (Investment) Activity Ratios
- Analysis of Geographic Areas
- Net Profit Margin since 2005
- Operating Profit Margin since 2005
- Return on Equity (ROE) since 2005
- Return on Assets (ROA) since 2005
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Based on: 10-K (reporting date: 2026-06-30), 10-Q (reporting date: 2026-03-31), 10-Q (reporting date: 2025-12-31), 10-Q (reporting date: 2025-09-30), 10-K (reporting date: 2025-06-30), 10-Q (reporting date: 2025-03-31), 10-Q (reporting date: 2024-12-31), 10-Q (reporting date: 2024-09-30), 10-K (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-Q (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-K (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-Q (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-K (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-Q (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-K (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-Q (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30).
The asset structure is characterized by a high concentration of noncurrent assets, which consistently comprise between 78% and 81% of total assets. A significant portion of the balance sheet is allocated to intangible assets and goodwill, reflecting a capital structure heavily weighted toward brand value and acquisitions rather than liquid holdings.
- Liquidity and Working Capital Trends
- Cash and cash equivalents exhibited a general downward trend over the first half of the period, decreasing from 11.17% in September 2020 to a low of 5.71% in March 2024, before recovering to 7.86% by June 2026. Concurrently, inventories showed a steady increase, rising from 4.76% in September 2020 to a peak of 6.53% in September 2022, eventually stabilizing around 6.46% by June 2026. This suggests a shift in the allocation of current assets from liquid cash toward inventory holdings. Accounts receivable remained relatively stable, fluctuating within a narrow range between 3.96% and 5.25% throughout the analyzed timeframe.
- Noncurrent Asset Composition
- Goodwill is the most prominent asset component, remaining remarkably stable between 32% and 34% of total assets. In contrast, trademarks and other intangible assets experienced a gradual and consistent decline, falling from 19.86% in September 2020 to 16.95% in June 2026, which is consistent with a standard amortization pattern. Property, plant, and equipment remained stable near 18% for several years before trending upward to reach 20.04% by June 2026, indicating an increase in the relative weight of fixed assets.
- Other Noncurrent Asset Growth
- A sustained increase is observed in other noncurrent assets, which grew from 7.18% in September 2020 to a peak of 10.98% in March 2024, before settling at 9.67% in June 2026. This growth highlights a diversifying trend within the noncurrent asset category over the six-year period.
Overall, the analysis reveals a balance sheet where liquidity has fluctuated while long-term investments in fixed assets and other noncurrent holdings have marginally increased. The continued dominance of goodwill and the steady amortization of intangible assets remain the defining characteristics of the company's asset distribution.