Stock Analysis on Net
Stock Analysis on Net

Procter & Gamble Co. (NYSE:PG)

Common-Size Balance Sheet: Liabilities and Stockholders’ Equity 
Quarterly Data

Procter & Gamble Co., common-size consolidated balance sheet: liabilities and stockholders’ equity (quarterly data)

Microsoft Excel
Dec 31, 2025 Sep 30, 2025 Jun 30, 2025 Mar 31, 2025 Dec 31, 2024 Sep 30, 2024 Jun 30, 2024 Mar 31, 2024 Dec 31, 2023 Sep 30, 2023 Jun 30, 2023 Mar 31, 2023 Dec 31, 2022 Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019
Accounts payable 11.92 12.23 12.16 11.80 11.82 12.14 12.56 11.45 11.79 11.78 12.08 11.51 12.02 12.77 12.70 11.79 11.66 11.89 11.50 10.39 10.01 9.95 10.00 8.83 9.65 9.60
Accrued and other liabilities 8.22 8.43 9.04 8.01 8.05 8.43 9.05 9.13 9.20 8.91 9.05 8.78 8.74 8.65 8.15 8.59 8.68 8.67 8.82 9.51 9.27 8.65 8.05 8.21 9.16 8.72
Debt due within one year 8.69 9.12 7.60 8.04 7.68 8.23 5.88 6.46 8.79 9.64 8.47 11.45 12.15 10.08 7.38 8.24 10.98 10.02 7.45 7.51 7.15 6.43 9.27 10.71 8.19 8.20
Current liabilities 28.83% 29.78% 28.79% 27.85% 27.56% 28.79% 27.48% 27.04% 29.78% 30.33% 29.59% 31.73% 32.92% 31.49% 28.22% 28.62% 31.32% 30.58% 27.77% 27.42% 26.43% 25.03% 27.32% 27.75% 27.00% 26.52%
Long-term debt, excluding due within one year 20.09 19.06 19.96 19.72 20.60 20.35 20.65 20.28 19.13 19.64 20.18 19.09 17.48 18.31 19.49 19.77 18.38 17.18 19.36 18.03 18.74 19.97 19.50 19.66 16.99 17.68
Deferred income taxes 4.69 4.62 4.61 5.27 5.48 5.08 5.32 5.25 5.15 5.56 5.36 5.36 5.49 6.01 5.81 5.44 5.36 5.28 5.16 5.12 5.06 5.25 5.14 5.32 5.59 5.55
Other noncurrent liabilities 4.49 4.58 4.89 4.44 4.41 4.55 5.23 5.34 5.48 5.29 5.92 5.93 6.12 6.07 6.50 8.12 7.96 8.18 8.61 9.26 9.36 9.24 9.20 8.52 9.33 9.06
Noncurrent liabilities 29.28% 28.25% 29.46% 29.43% 30.49% 29.98% 31.20% 30.87% 29.77% 30.49% 31.46% 30.37% 29.09% 30.38% 31.80% 33.33% 31.71% 30.64% 33.13% 32.41% 33.16% 34.46% 33.84% 33.50% 31.91% 32.28%
Total liabilities 58.11% 58.03% 58.25% 57.27% 58.05% 58.78% 58.68% 57.91% 59.55% 60.81% 61.05% 62.10% 62.01% 61.87% 60.02% 61.95% 63.03% 61.22% 60.90% 59.82% 59.59% 59.49% 61.16% 61.25% 58.91% 58.81%
Preferred stock 0.60 0.60 0.62 0.64 0.64 0.63 0.65 0.67 0.67 0.66 0.68 0.69 0.71 0.72 0.72 0.70 0.71 0.72 0.73 0.75 0.74 0.74 0.74 0.76 0.82 0.80
Common stock 3.15 3.14 3.20 3.26 3.27 3.17 3.28 3.35 3.32 3.27 3.32 3.34 3.41 3.45 3.42 3.33 3.30 3.35 3.36 3.43 3.34 3.34 3.32 3.38 3.59 3.51
Additional paid-in capital 54.22 54.01 54.91 55.79 55.68 53.84 55.31 56.35 55.45 54.53 55.08 55.33 56.19 56.72 56.14 54.58 53.89 54.44 54.35 55.39 53.84 53.77 53.18 53.96 57.30 56.07
Reserve for ESOP debt retirement -0.50 -0.50 -0.54 -0.55 -0.58 -0.56 -0.60 -0.62 -0.65 -0.64 -0.68 -0.69 -0.74 -0.75 -0.78 -0.76 -0.79 -0.81 -0.84 -0.86 -0.89 -0.87 -0.89 -0.91 -1.00 -0.97
Accumulated other comprehensive loss -9.51 -9.53 -9.70 -9.19 -9.49 -8.61 -9.72 -10.34 -10.08 -10.27 -10.11 -10.23 -10.62 -11.02 -10.40 -11.19 -11.17 -11.75 -11.52 -13.26 -12.56 -13.25 -13.39 -13.42 -13.37 -13.41
Treasury stock -111.54 -109.60 -110.76 -112.27 -111.80 -106.59 -109.00 -110.51 -109.26 -106.93 -107.37 -108.47 -109.60 -109.39 -105.27 -101.71 -100.10 -97.97 -96.37 -96.03 -91.23 -89.07 -87.47 -89.26 -94.66 -89.88
Retained earnings 105.26 103.62 103.79 104.83 104.00 99.11 101.18 102.96 100.75 98.30 97.80 97.69 98.42 98.18 95.92 92.87 90.92 90.55 89.16 90.49 86.89 85.52 83.05 83.90 88.09 84.72
Shareholders’ equity attributable to Procter & Gamble 41.67% 41.75% 41.53% 42.50% 41.72% 40.99% 41.09% 41.86% 40.21% 38.92% 38.71% 37.66% 37.76% 37.90% 39.75% 37.83% 36.75% 38.53% 38.87% 39.90% 40.11% 40.19% 38.54% 38.41% 40.76% 40.84%
Noncontrolling interest 0.22 0.22 0.22 0.22 0.22 0.24 0.22 0.23 0.24 0.26 0.24 0.23 0.23 0.22 0.23 0.22 0.23 0.25 0.23 0.28 0.30 0.33 0.30 0.34 0.33 0.36
Total shareholders’ equity 41.89% 41.97% 41.75% 42.73% 41.95% 41.22% 41.32% 42.09% 40.45% 39.19% 38.95% 37.90% 37.99% 38.13% 39.98% 38.05% 36.97% 38.78% 39.10% 40.18% 40.41% 40.51% 38.84% 38.75% 41.09% 41.19%
Total liabilities and shareholders’ equity 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%

Based on: 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), 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).

The composition of liabilities and shareholders’ equity exhibited several notable trends over the observed period from September 2019 to December 2025. Current liabilities consistently represented a significant portion of the total, generally fluctuating between 25% and 33%. Noncurrent liabilities also constituted a substantial component, typically ranging from 29% to 34%. Shareholders’ equity, while representing a considerable portion, demonstrated more variability, particularly due to the impact of treasury stock.

Current Liabilities
Current liabilities generally increased from 26.52% in September 2019 to a peak of 32.92% in December 2022, before decreasing to 27.48% by June 2024 and stabilizing around 28% through December 2025. Within current liabilities, accounts payable and accrued liabilities remained relatively stable, each contributing approximately 9-12% and 8-9% respectively. Debt due within one year showed more fluctuation, peaking at 10.98% in September 2021 and declining to 5.88% by June 2024, before a slight increase to 6.46% by December 2025.
Noncurrent Liabilities
Noncurrent liabilities showed a moderate decline from 32.28% in September 2019 to 28.25% by September 2025. Long-term debt, excluding current portions, remained the largest component, consistently accounting for approximately 17% to 21% of the total. Deferred income taxes exhibited a slight upward trend, increasing from 5.55% to 5.32% initially, then peaking at 6.01% in September 2022, and decreasing to 4.69% by December 2025. Other noncurrent liabilities demonstrated a consistent decline, falling from 9.06% to 4.49% over the period.
Shareholders’ Equity
Shareholders’ equity experienced significant fluctuations, largely driven by changes in treasury stock. Treasury stock consistently represented a large negative percentage, increasing in magnitude from -89.88% in September 2019 to -112.27% in December 2024, before decreasing slightly to -111.54% by December 2025. Retained earnings consistently represented the largest positive component of shareholders’ equity, increasing from 84.72% to a peak of 105.26% in June 2024, and then decreasing to 103.62% by December 2025. Common stock and additional paid-in capital remained relatively stable, each contributing around 3-4% and 53-58% respectively. Accumulated other comprehensive loss remained consistently negative, fluctuating between -13.42% and -9.19%.
Total Liabilities
Total liabilities generally increased from 58.81% in September 2019 to a peak of 63.03% in September 2021, before decreasing to 57.91% by December 2025. This increase and subsequent decrease mirrored the trends observed in current and noncurrent liabilities. The proportion of total liabilities relative to shareholders’ equity remained relatively consistent, indicating a balanced approach to financing.

Overall, the liability structure remained relatively stable, with current and noncurrent liabilities consistently representing significant portions of the total. The most notable changes were observed within shareholders’ equity, primarily due to the substantial and increasing impact of treasury stock, offset by growth in retained earnings. These shifts suggest ongoing capital management activities, including share repurchases and profit retention.