Stock Analysis on Net

Procter & Gamble Co. (NYSE:PG)

Balance Sheet: Assets 
Quarterly Data

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 (quarterly data)

US$ in millions

Microsoft Excel
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 Jun 30, 2019 Mar 31, 2019 Dec 31, 2018 Sep 30, 2018
Cash and cash equivalents 9,116 10,230 12,156 9,482 6,828 7,890 9,733 8,246 7,596 6,854 6,710 7,214 8,526 11,544 10,370 10,288 10,007 11,941 13,392 16,181 15,393 6,279 9,304 4,239 2,738 3,696 2,545
Available-for-sale investment securities 6,048 7,085 8,421 8,708
Accounts receivable 6,139 6,234 6,314 6,118 6,124 6,334 6,215 5,471 5,471 5,767 5,720 5,143 5,513 5,241 5,662 4,725 4,861 4,819 5,043 4,178 4,640 5,196 5,143 4,951 5,198 5,055 5,035
Materials and supplies 1,935 1,949 1,820 1,617 1,676 1,780 1,759 1,863 2,010 2,232 2,235 2,168 2,146 2,061 1,839 1,645 1,548 1,556 1,424 1,414 1,325 1,458 1,394 1,289 1,415 1,524 1,429
Work in process 957 879 921 929 971 962 972 956 966 946 898 856 837 766 769 719 710 699 678 674 635 632 656 612 617 593 600
Finished goods 4,508 4,192 4,546 4,470 4,430 4,409 4,386 4,254 4,507 4,363 4,457 3,900 4,118 3,846 3,699 3,619 3,744 3,702 3,605 3,410 3,370 3,431 3,415 3,116 3,326 3,164 3,153
Inventories 7,400 7,020 7,287 7,016 7,077 7,151 7,117 7,073 7,483 7,541 7,590 6,924 7,101 6,673 6,307 5,983 6,002 5,957 5,707 5,498 5,330 5,521 5,465 5,017 5,358 5,281 5,182
Prepaid expenses and other current assets 1,780 2,158 1,692 2,093 2,429 1,736 1,875 1,858 1,755 1,704 2,501 2,372 2,276 2,087 1,997 2,095 1,738 1,938 1,884 2,130 1,777 1,921 2,013 2,218 1,933 1,978 1,876
Current assets 24,435 25,642 27,449 24,709 22,458 23,111 24,940 22,648 22,305 21,866 22,521 21,653 23,416 25,545 24,336 23,091 22,608 24,655 26,026 27,987 27,140 18,917 21,925 22,473 22,312 24,431 23,346
Property, plant and equipment, net 22,728 22,074 22,506 22,152 22,027 22,132 21,636 21,909 21,564 21,167 20,593 21,195 21,323 21,357 21,392 21,686 21,103 21,416 20,876 20,692 20,459 21,250 20,901 21,271 20,993 20,822 20,590
Goodwill 40,476 39,898 40,970 40,303 40,567 40,916 40,239 40,659 40,718 39,951 38,761 39,700 40,710 40,315 40,493 40,924 40,612 41,381 40,569 39,901 39,617 39,998 39,605 40,273 46,753 46,932 45,225
Trademarks and other intangible assets, net 21,836 21,833 22,053 22,047 22,193 22,302 23,637 23,783 23,832 23,594 23,465 23,679 23,913 23,538 23,504 23,642 23,658 23,864 23,814 23,792 23,834 23,980 24,002 24,215 25,836 25,947 23,919
Other noncurrent assets 13,509 13,192 13,504 13,159 12,353 12,248 12,079 11,830 11,432 11,137 10,942 10,981 10,855 10,661 9,944 9,964 8,797 8,796 8,614 8,328 7,510 7,578 7,625 6,863 5,779 5,555 5,360
Noncurrent assets 98,549 96,997 99,033 97,661 97,140 97,598 97,591 98,181 97,546 95,849 93,761 95,555 96,801 95,871 95,333 96,216 94,170 95,457 93,873 92,713 91,420 92,806 92,133 92,622 99,361 99,256 95,094
Total assets 122,984 122,639 126,482 122,370 119,598 120,709 122,531 120,829 119,851 117,715 116,282 117,208 120,217 121,416 119,669 119,307 116,778 120,112 119,899 120,700 118,560 111,723 114,058 115,095 121,673 123,687 118,440

Based on: 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), 10-K (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-Q (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30).


Cash and cash equivalents
Cash balances exhibited notable volatility over the period, peaking in the mid-2020 timeframe before seeing a general decline toward late 2023. The highest levels occurred around March to June 2020, coinciding with potential liquidity retention measures.
Available-for-sale investment securities
Data on investment securities is only available until mid-2019 and shows a declining trend from approximately $8.7 billion to just over $6 billion, implying a possible divestment or reclassification.
Accounts receivable
The accounts receivable figures showed minor fluctuations with periods of increase and decrease but trended upwards into 2024. Peaks occurred sporadically, but the general level tended to rise gradually over the years.
Materials and supplies
Materials and supplies inventory levels steadily increased from 2018 through 2022, peaking around mid-2022, followed by a decline into 2023, which suggests inventory management adjustments post-pandemic.
Work in process
The work in process inventory displayed a gradual upward trend across the timeline, reflecting moderately increasing production activity with some minor fluctuations but overall growth.
Finished goods
Finished goods inventory notably increased from 2018 through early 2022, reaching a high level close to $4.5 billion, followed by some volatility but maintaining elevated levels suggesting strong production and inventory buildup.
Inventories (total)
Total inventory levels steadily rose from 2018 until about 2022, with a peak near $7.6 billion before a mild decrease and stabilization around $7 billion, indicating active stock management and usage aligning with demand.
Prepaid expenses and other current assets
These assets showed some fluctuation throughout, with no clear sustained trend, impacted by spikes and declines possibly reflecting timing differences in payments and other short-term asset adjustments.
Current assets
Current assets generally remained within a range between $21 billion and $28 billion, with peaks around mid-2020, followed by declines and subsequent recovery phases, demonstrating variable liquidity and operational cycles.
Property, plant and equipment, net
Property, plant, and equipment showed a slow, steady increase with minor dips, reflecting ongoing capital investment and asset maintenance sustaining operational capacity over the years.
Goodwill
Goodwill experienced a decrease between late 2018 and mid-2019, followed by relatively stable levels with fluctuations but no strong directional trend, suggesting stable valuation of acquisitions or limited impairment activity.
Trademarks and other intangible assets, net
This category showed a marginal decline over the entire period, indicating gradual amortization or possible asset revaluations, with minor fluctuations and no significant revaluations or impairments.
Other noncurrent assets
Other noncurrent assets exhibited a steady increase over the period, growing from approximately $5.4 billion in 2018 to over $13 billion by late 2024, indicating ongoing investments or capitalized assets outside core facilities.
Noncurrent assets
Noncurrent assets overall remained relatively stable with small fluctuations, peaking intermittently but declining slightly toward the end, reflecting balanced capital expenditure and asset disposals or amortization effects.
Total assets
Total assets fluctuated between roughly $115 billion and $126 billion over the period, with the highest values occurring in early 2025. This suggests the company maintained substantial asset bases with active management of asset composition and growth throughout the years.

Assets: Selected Items


Current Assets: Selected Items