Common-Size Balance Sheet: Assets
Quarterly Data
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Procter & Gamble Co. pages available for free this week:
- Balance Sheet: Assets
- Analysis of Profitability Ratios
- Analysis of Liquidity Ratios
- Analysis of Solvency Ratios
- Analysis of Long-term (Investment) Activity Ratios
- Enterprise Value to EBITDA (EV/EBITDA)
- Dividend Discount Model (DDM)
- Return on Equity (ROE) since 2005
- Price to Earnings (P/E) since 2005
- Price to Operating Profit (P/OP) since 2005
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Based on: 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), 10-K (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-Q (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30).
- Cash and cash equivalents
- The proportion of cash and cash equivalents as a percentage of total assets experienced notable fluctuations. It peaked around March to June 2020 above 12%, likely reflecting liquidity preservation during early pandemic conditions, then decreased to a range between 5.7% and 7.9% in subsequent periods, showing some recovery and stabilization but not returning to initial levels.
- Accounts receivable
- This component remained relatively stable, fluctuating modestly between approximately 3.5% and 5.3% throughout the periods. There is a gradual upward trend beginning mid-2021, indicating a potential increase in credit sales or slower collections.
- Materials and supplies
- The percentage of materials and supplies generally showed a slow but steady increase, moving from around 1.2% in late 2019 to a peak near 1.9% in late 2022 before marginally declining towards 1.6% by mid-2025. This suggests incremental accumulation or consistent inventory build-up over time.
- Work in process
- This figure displayed a modest growth trend from about 0.54% in early 2020 to near 0.8% by 2024, indicating a gradual increase in incomplete production inventories. This may reflect changes in manufacturing cycles or product demand dynamics.
- Finished goods
- Finished goods as a percentage of total assets increased from below 3% in 2019 to around 3.8% in late 2022 and remained fairly stable near 3.6% to 3.7% afterwards, suggesting inventory management maintained a relatively constant level of completed product stock.
- Inventories
- Overall inventories, combining materials, work in process, and finished goods, showed an upward trend from roughly 4.8% in 2019 to over 6% by 2022 and maintained around that level through 2025. This sustained increase may imply strategic inventory accumulation or responses to supply chain considerations.
- Prepaid expenses and other current assets
- This category fluctuated between approximately 1.3% and 2.1%, with some irregular movement and no clear directional trend, indicating variability in timing or composition of prepaid and miscellaneous short-term asset items.
- Current assets
- Current assets as a proportion of total assets oscillated between about 16.9% and 23.2%, peaking during early 2020 likely due to elevated cash and inventory levels in uncertain market conditions, then settling near 20% thereafter, reflecting a balanced asset structure.
- Property, plant and equipment, net
- This asset class showed moderate stability, remaining close to 17% to 19%, with minor fluctuations suggesting steady investments and depreciation balancing out across the periods analyzed.
- Goodwill
- Goodwill consistently represented the largest portion of total assets, generally around 32% to 35%. Despite slight declines after 2021, it remained a dominant component, implying stable acquisition-related intangible assets or limited impairment impacts.
- Trademarks and other intangible assets, net
- These assets gradually declined as a proportion of total assets, from about 21% in 2019 to around 17.5% by 2025, indicating possible amortization exceeding new intangibles capitalization or strategic reassessment of these assets.
- Other noncurrent assets
- This category steadily increased from about 6.7% to over 10% by early 2024, followed by a slight decline, suggesting reclassification or growth in miscellaneous long-term holdings or investment assets over time.
- Noncurrent assets
- Overall, noncurrent assets comprised the major part of total assets, hovering consistently around 78% to 81%, reflecting a stable asset base focused on long-term investments and intangible assets throughout the periods.