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
Jun 30, 2026 Mar 31, 2026 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
Accounts payable 12.89 11.71 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
Accrued and other liabilities 8.77 7.81 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
Debt due within one year 8.93 10.26 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
Current liabilities 30.58% 29.78% 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%
Long-term debt, excluding due within one year 18.05 18.58 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
Deferred income taxes 4.55 4.71 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
Other noncurrent liabilities 3.88 4.29 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
Noncurrent liabilities 26.49% 27.58% 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%
Total liabilities 57.07% 57.37% 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%
Preferred stock 0.60 0.59 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
Common stock 3.17 3.12 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
Additional paid-in capital 54.96 54.04 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
Reserve for ESOP debt retirement -0.47 -0.46 -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
Accumulated other comprehensive loss -9.85 -9.58 -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
Treasury stock -113.03 -110.74 -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
Retained earnings 107.38 105.49 105.26 103.62 103.79 104.83 104.00 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
Shareholders’ equity attributable to Procter & Gamble 42.74% 42.46% 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%
Noncontrolling interest 0.18 0.18 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
Total shareholders’ equity 42.93% 42.63% 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%
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%

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 capital structure exhibits a stable distribution between liabilities and shareholders' equity over the analyzed period. Total liabilities fluctuated between a peak of 63.03% in December 2021 and a low of 57.07% by June 2026. Correspondingly, total shareholders' equity followed an inverse trajectory, moving from approximately 40.51% in September 2020 to 42.93% by June 2026, reflecting a gradual shift toward a more equity-heavy financing mix.

Liability Composition and Trends
Current liabilities remained a significant component of the balance sheet, generally ranging between 25% and 33%. Accounts payable showed a gradual increase from 9.95% to 12.89%, suggesting a shift in working capital management or extended payment terms with suppliers. Debt due within one year exhibited notable volatility, peaking at 12.15% in December 2022 before stabilizing around 8.93% by June 2026.
Noncurrent liabilities demonstrated a consistent downward trend, decreasing from 34.46% in September 2020 to 26.49% in June 2026. This decline is primarily attributed to a significant reduction in other noncurrent liabilities, which fell from 9.24% to 3.88% over the same period. Long-term debt, excluding the portion due within one year, remained relatively stable, oscillating between 17% and 21%.
Shareholders' Equity and Capital Return
Retained earnings showed a strong and consistent upward trajectory, rising from 85.52% to 107.38% of total liabilities and equity. This growth indicates substantial profit accumulation over the period.
This accumulation of retained earnings was heavily offset by an aggressive treasury stock program. Treasury stock as a percentage of total liabilities and equity increased in magnitude from -89.07% to -113.03%, signaling consistent and significant share repurchases. This strategy effectively neutralized much of the increase in retained earnings to maintain a stable total equity ratio.
Accumulated other comprehensive loss narrowed from -13.25% to -9.85%, reflecting a moderate improvement in the valuation of other comprehensive income items.
Overall Solvency and Risk Profile
The balance sheet reveals a controlled approach to leverage. The total liabilities ratio peaked in late 2021 and has since trended downward, suggesting a slight reduction in overall financial leverage. The stability of long-term debt relative to the growth in retained earnings points toward a sustainable solvency position, while the volatility in short-term debt suggests active management of liquidity and refinancing cycles.

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