Balance Sheet: Assets
The balance sheet provides creditors, investors, and analysts with information on company resources (assets) and its sources of capital (its equity and liabilities). It normally also provides information about the future earnings capacity of a company assets as well as an indication of cash flows that may come from receivables and inventories.
Assets are resources controlled by the company as a result of past events and from which future economic benefits are expected to flow to the entity.
Procter & Gamble Co., consolidated balance sheet: assets
US$ in millions
Based on: 10-K (reporting date: 2025-06-30), 10-K (reporting date: 2024-06-30), 10-K (reporting date: 2023-06-30), 10-K (reporting date: 2022-06-30), 10-K (reporting date: 2021-06-30), 10-K (reporting date: 2020-06-30).
The annual financial data reveals several important trends in the composition and magnitude of assets over the reported periods.
- Cash and cash equivalents
- A clear downward trend is observed from June 2020 to June 2022, decreasing from $16,181 million to $7,214 million. This is followed by a moderate recovery in subsequent years, with cash levels rising to $9,556 million by June 2025, yet not reaching earlier highs.
- Accounts receivable
- This category shows a consistent upward trajectory, increasing steadily from $4,178 million in June 2020 to $6,185 million in June 2025, indicating possible growth in sales or extended credit terms.
- Inventories
- Inventories have generally increased during the period, rising from $5,498 million in June 2020 to $7,551 million in June 2025. The increase is relatively steady, with a slight plateau between June 2023 and June 2024.
- Prepaid expenses and other current assets
- These assets fluctuate modestly, with a minor decline by June 2023 but returning close to previous levels by June 2025. Values range between approximately $1,858 million and $2,130 million, suggesting relatively stable short-term asset management.
- Current assets
- Current assets initially decline significantly from $27,987 million in June 2020 to $21,653 million in June 2022, reflecting decreases in cash and other components. A recovery trend is visible thereafter, rising to $25,392 million by June 2025, likely driven by increases in accounts receivable and inventories.
- Property, plant and equipment, net
- Net property, plant, and equipment exhibit overall growth, increasing from $20,692 million in June 2020 to $23,897 million in June 2025, with minor fluctuations. This suggests ongoing investment in fixed assets or capital expenditures.
- Goodwill
- Goodwill remains relatively stable throughout the years, fluctuating around the $40 billion mark, showing minor decreases and increases but no significant overall trend.
- Trademarks and other intangible assets, net
- This category is generally stable but shows a decline after June 2023, decreasing from $23,783 million to $21,910 million by June 2025, which may indicate amortization or impairment activities.
- Other noncurrent assets
- There is a steady increase from $8,328 million in June 2020 to a peak of $13,159 million in June 2024, followed by a slight decline to $12,382 million by June 2025. This reflects growth in longer-term asset holdings with some recent reduction.
- Noncurrent assets
- Noncurrent assets show a generally positive trend, increasing from $92,713 million in June 2020 to $99,839 million in June 2025. Minor fluctuations occur in the intervening years but the overall asset base expansion is clear.
- Total assets
- Total assets demonstrate slight volatility but an overall upward trend. Starting at $120,700 million in June 2020, the total dips to $117,208 million in June 2022, before increasing steadily to reach $125,231 million by June 2025.
In summary, the data indicates a period of asset restructuring during the early years followed by a recovery and moderate growth through to June 2025. Current assets initially declined sharply due to reduced cash balances but gradually recovered primarily due to increased receivables and inventories. Investment in fixed and noncurrent assets continued, supporting asset growth overall. Intangible assets remained mostly stable, with trademarks showing a decline in later years. These patterns together suggest cautious management of liquidity alongside continued capital investment and asset base expansion.