Income Statement
The income statement presents information on the financial results of a company business activities over a period of time. The income statement communicates how much revenue the company generated during a period and what cost it incurred in connection with generating that revenue.
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- Statement of Comprehensive Income
- DuPont Analysis: Disaggregation of ROE, ROA, and Net Profit Margin
- Analysis of Geographic Areas
- Price to FCFE (P/FCFE)
- Net Profit Margin since 2005
- Operating Profit Margin since 2005
- Current Ratio since 2005
- Debt to Equity since 2005
- Price to Earnings (P/E) since 2005
- Price to Sales (P/S) since 2005
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Procter & Gamble Co., consolidated income statement
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).
- Net Sales
- Net sales exhibited a steady upward trend over the six-year period, rising from $70,950 million in 2020 to $84,284 million in 2025. Annual increases were consistent, reflecting gradual revenue growth.
- Cost of Products Sold
- Cost of products sold increased from $35,250 million in 2020 to $42,164 million in 2025, with a notable peak in 2022 and a slight decrease in 2024 before rising again in 2025. This suggests some variability in cost management or input pricing.
- Gross Profit
- Gross profit showed an overall increasing trend, moving from $35,700 million in 2020 to a peak of $43,191 million in 2024, followed by a slight decline to $43,120 million in 2025. Despite minor fluctuations, gross profit expansion aligns with sales growth.
- Selling, General and Administrative Expense
- SG&A expenses increased from $19,994 million in 2020 to $23,305 million in 2024, before slightly decreasing to $22,669 million in 2025. The trend indicates rising overhead costs, partially offsetting gross profit gains.
- Indefinite-lived Intangible Asset Impairment Charge
- A significant impairment charge of $1,341 million occurred in 2024, with no such charges recorded in other years. This impact likely influenced operating income and reflects a one-time asset valuation adjustment.
- Operating Income
- Operating income demonstrated steady growth from $15,706 million in 2020 to $20,451 million in 2025, despite the 2024 impairment charge. The increase indicates improved operational efficiency or revenue quality beyond this impairment event.
- Interest Expense and Income
- Interest expense fluctuated, increasing from $465 million in 2020 to a peak of $925 million in 2024, then slightly decreasing to $907 million in 2025. Interest income grew significantly from $155 million in 2020 to $473 million in 2024, stabilizing near that level in 2025. The net interest impact may have shifted positively due to rising interest income despite increased expense.
- Other Non-operating Income (Expense), Net
- Other non-operating income exhibited volatility, declining from $438 million in 2020 to a low of $86 million in 2021, then increasing to approximately $668 million in 2023 and 2024, before dropping sharply to $154 million in 2025. This indicates variability in non-core business activities affecting overall earnings.
- Earnings Before Income Taxes
- EBIT showed consistent growth from $15,834 million in 2020 to $20,167 million in 2025, reflecting overall profitability improvements despite expense fluctuations and impairment charges.
- Income Taxes
- Income taxes rose in line with earnings, increasing from $2,731 million in 2020 to $4,102 million in 2025, indicating stable tax rate application or tax obligations proportional to pre-tax earnings growth.
- Net Earnings
- Net earnings increased gradually from $13,103 million in 2020 to $16,065 million in 2025, showing steady profit growth. Attributable net earnings to Procter & Gamble followed a similar pattern, rising from $13,027 million to $15,974 million over the same period.
- Net Earnings Attributable to P&G Available to Common Shareholders
- This figure also showed a steady increase, moving from $12,764 million in 2020 to $15,682 million in 2025, demonstrating consistent value generation for common shareholders and reflecting effective dividend and capital management.