Stock Analysis on Net
Stock Analysis on Net

Procter & Gamble Co. (NYSE:PG)

$24.99

Balance Sheet: Liabilities and Stockholders’ Equity
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.

Liabilities represents obligations of a company arising from past events, the settlement of which is expected to result in an outflow of economic benefits from the entity.

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

US$ in millions

Microsoft Excel
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 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019
Accounts payable
Accrued and other liabilities
Debt due within one year
Current liabilities
Long-term debt, excluding due within one year
Deferred income taxes
Other noncurrent liabilities
Noncurrent liabilities
Total liabilities
Preferred stock
Common stock
Additional paid-in capital
Reserve for ESOP debt retirement
Accumulated other comprehensive loss
Treasury stock
Retained earnings
Shareholders’ equity attributable to Procter & Gamble
Noncontrolling interest
Total shareholders’ equity
Total liabilities and shareholders’ equity

Based on: 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), 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 balance sheet exhibits a general expansion in total liabilities and shareholders' equity, increasing from 114.0 billion USD in September 2019 to 128.3 billion USD by March 2026. This growth is characterized by a strategic management of short-term obligations and a consistent increase in equity through retained earnings, which is partially offset by an aggressive share repurchase program.

Current Liability Trends
Current liabilities have trended upward, rising from 30.2 billion USD to 38.2 billion USD over the observed period. A primary driver of this increase is accounts payable, which grew from 10.9 billion USD in September 2019 to 15.0 billion USD by March 2026. Debt due within one year demonstrates significant volatility, peaking at 14.3 billion USD in December 2022 and fluctuating between 7.1 billion USD and 13.1 billion USD in subsequent years, suggesting a tactical approach to short-term debt maturity and refinancing.
Noncurrent Liabilities and Long-term Debt
Noncurrent liabilities have remained relatively stable, fluctuating between a low of 34.2 billion USD and a high of 41.3 billion USD. Long-term debt, excluding the portion due within one year, has maintained a consistent range between 20.1 billion USD and 25.7 billion USD. Notably, other noncurrent liabilities show a distinct downward trend, decreasing from 10.3 billion USD in September 2019 to 5.5 billion USD by March 2026, which has moderated the overall growth of noncurrent obligations.
Shareholders' Equity and Capital Composition
Total shareholders' equity increased from 46.9 billion USD to 54.7 billion USD. This growth is primarily underpinned by a steady rise in retained earnings, which climbed from 96.6 billion USD to 135.4 billion USD, signaling strong cumulative profitability. This is contrasted by a significant expansion in treasury stock, which moved from -102.5 billion USD to -142.1 billion USD, indicating a sustained and aggressive strategy of returning capital to shareholders through buybacks. Common stock remained constant at 4.0 billion USD throughout the period.
Overall Financial Position
The company maintains a balanced capital structure where the growth in total liabilities, from 67.0 billion USD to 73.6 billion USD, is mirrored by an increase in total equity. The consistent growth in retained earnings provides a substantial buffer, while the volatility in short-term debt is managed within a framework of overall balance sheet expansion. The reduction in other noncurrent liabilities and the stability of long-term debt suggest a disciplined approach to long-term leverage.