Price to Earnings (P/E)
since 2005
Calculation
Procter & Gamble Co., P/E, long-term trends, calculation
| P/E | = | Share price1, 2, 3 | ÷ | Earnings per share1 (EPS) | EPS1 | = | Net earnings attributable to P&G available to common shareholders1 (in millions) | ÷ | No. shares of common stock outstanding2 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Aug 4, 2025 | 22.52 | = | 150.76 | ÷ | 6.69 | 6.69 | = | 15,682 | ÷ | 2,342,371,488 | |
| Aug 5, 2024 | 27.11 | = | 168.06 | ÷ | 6.20 | 6.20 | = | 14,595 | ÷ | 2,354,050,987 | |
| Aug 4, 2023 | 25.47 | = | 155.28 | ÷ | 6.10 | 6.10 | = | 14,371 | ÷ | 2,357,306,187 | |
| Aug 5, 2022 | 23.91 | = | 144.72 | ÷ | 6.05 | 6.05 | = | 14,461 | ÷ | 2,389,553,883 | |
| Aug 6, 2021 | 24.46 | = | 141.41 | ÷ | 5.78 | 5.78 | = | 14,035 | ÷ | 2,427,424,874 | |
| Aug 6, 2020 | 25.85 | = | 132.71 | ÷ | 5.13 | 5.13 | = | 12,764 | ÷ | 2,486,086,692 | |
| Aug 6, 2019 | 78.69 | = | 114.28 | ÷ | 1.45 | 1.45 | = | 3,634 | ÷ | 2,502,259,668 | |
| Aug 7, 2018 | 21.68 | = | 82.64 | ÷ | 3.81 | 3.81 | = | 9,485 | ÷ | 2,488,011,390 | |
| Aug 7, 2017 | 15.46 | = | 91.44 | ÷ | 5.91 | 5.91 | = | 15,079 | ÷ | 2,550,014,230 | |
| Aug 9, 2016 | 22.38 | = | 85.99 | ÷ | 3.84 | 3.84 | = | 10,253 | ÷ | 2,668,751,125 | |
| Aug 7, 2015 | 30.21 | = | 75.48 | ÷ | 2.50 | 2.50 | = | 6,777 | ÷ | 2,712,561,733 | |
| Aug 8, 2014 | 19.24 | = | 80.95 | ÷ | 4.21 | 4.21 | = | 11,390 | ÷ | 2,707,652,337 | |
| Aug 8, 2013 | 20.33 | = | 82.17 | ÷ | 4.04 | 4.04 | = | 11,068 | ÷ | 2,738,760,542 | |
| Aug 8, 2012 | 17.50 | = | 66.72 | ÷ | 3.81 | 3.81 | = | 10,500 | ÷ | 2,754,274,536 | |
| Aug 10, 2011 | 13.90 | = | 58.51 | ÷ | 4.21 | 4.21 | = | 11,564 | ÷ | 2,747,768,202 | |
| Aug 13, 2010 | 13.57 | = | 59.82 | ÷ | 4.41 | 4.41 | = | 12,517 | ÷ | 2,838,474,868 | |
| Aug 14, 2009 | 11.54 | = | 52.37 | ÷ | 4.54 | 4.54 | = | 13,244 | ÷ | 2,918,890,075 | |
| Aug 28, 2008 | 18.11 | = | 71.01 | ÷ | 3.92 | 3.92 | = | 11,899 | ÷ | 3,034,310,829 | |
| Aug 28, 2007 | 19.84 | = | 64.70 | ÷ | 3.26 | 3.26 | = | 10,179 | ÷ | 3,120,750,759 | |
| Aug 29, 2006 | 22.76 | = | 61.20 | ÷ | 2.69 | 2.69 | = | 8,536 | ÷ | 3,175,086,100 | |
| Aug 29, 2005 | 19.23 | = | 55.64 | ÷ | 2.89 | 2.89 | = | 7,121 | ÷ | 2,461,253,748 |
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), 10-K (reporting date: 2019-06-30), 10-K (reporting date: 2018-06-30), 10-K (reporting date: 2017-06-30), 10-K (reporting date: 2016-06-30), 10-K (reporting date: 2015-06-30), 10-K (reporting date: 2014-06-30), 10-K (reporting date: 2013-06-30), 10-K (reporting date: 2012-06-30), 10-K (reporting date: 2011-06-30), 10-K (reporting date: 2010-06-30), 10-K (reporting date: 2009-06-30), 10-K (reporting date: 2008-06-30), 10-K (reporting date: 2007-06-30), 10-K (reporting date: 2006-06-30), 10-K (reporting date: 2005-06-30).
1 US$
2 Data adjusted for splits and stock dividends.
3 Closing price as at the filing date of Procter & Gamble Co. Annual Report.
- Share Price
- The share price exhibited a general upward trajectory over the examined period, starting at $55.64 in August 2005 and reaching a peak of $168.06 in August 2024. Notable fluctuations occurred around mid-period; for example, a decrease from $71.01 in August 2008 to $52.37 in August 2009 was followed by recovery and growth. After 2015, the share price showed more consistent growth, with a few moderate declines, culminating in the highest observed value in the latter years before slightly retreating to $150.76 in August 2025.
- Earnings Per Share (EPS)
- EPS demonstrated a varied pattern. Initially, it increased from $2.89 in August 2005 to $4.54 in August 2009, indicating earnings growth; however, a decline was observed subsequently, falling to $1.45 by August 2019. This drop was followed by a strong recovery, with EPS rising steadily to $6.69 by August 2025. Fluctuations between these years suggest periods of earnings volatility, but the overall trend towards the end of the period indicates improved profitability per share.
- Price-to-Earnings (P/E) Ratio
- The P/E ratio showed significant variability throughout the time frame. Initially, it was relatively stable, ranging between approximately 18 and 23 until 2014. A sharp increase is noted in August 2019, reaching 78.69, which may reflect market optimism or temporarily suppressed earnings. Following this anomaly, the P/E ratio normalized into the mid-20s range, indicating more balanced valuations relative to earnings. This trend suggests phases of market revaluation and changing investor perceptions of the company’s growth prospects and earnings stability.
- Overall Insights
- The data reveals that both share price and EPS generally trended upwards over the long term, despite some intermediate volatility. The sharp fluctuations in the P/E ratio imply episodic shifts in market valuation relative to earnings. The rebound in EPS after 2019 aligns with the recovery and continued rise in share price, highlighting improved financial performance and possibly enhanced investor confidence. Periods of declining EPS and share price were followed by recovery phases, indicating resilience and cyclical dynamics within the company’s financial performance.
Comparison to Industry (Consumer Staples)
Procter & Gamble Co., P/E, long-term trends, comparison to industry (consumer staples)
| Procter & Gamble Co. | Consumer Staples | |
|---|---|---|
| Aug 4, 2025 | 22.52 | — |
| Aug 5, 2024 | 27.11 | 29.43 |
| Aug 4, 2023 | 25.47 | 26.62 |
| Aug 5, 2022 | 23.91 | 25.35 |
| Aug 6, 2021 | 24.46 | 26.07 |
| Aug 6, 2020 | 25.85 | 24.12 |
| Aug 6, 2019 | 78.69 | 31.92 |
| Aug 7, 2018 | 21.68 | 20.62 |
| Aug 7, 2017 | 15.46 | 22.78 |
| Aug 9, 2016 | 22.38 | 21.50 |
| Aug 7, 2015 | 30.21 | 21.97 |
| Aug 8, 2014 | 19.24 | 19.71 |
| Aug 8, 2013 | 20.33 | 17.00 |
| Aug 8, 2012 | 17.50 | 16.60 |
| Aug 10, 2011 | 13.90 | 14.81 |
| Aug 13, 2010 | 13.57 | 14.32 |
| Aug 14, 2009 | 11.54 | 14.63 |
| Aug 28, 2008 | 18.11 | 15.52 |
| Aug 28, 2007 | 19.84 | 19.68 |
| Aug 29, 2006 | 22.76 | 19.79 |
| Aug 29, 2005 | 19.23 | 20.04 |
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), 10-K (reporting date: 2019-06-30), 10-K (reporting date: 2018-06-30), 10-K (reporting date: 2017-06-30), 10-K (reporting date: 2016-06-30), 10-K (reporting date: 2015-06-30), 10-K (reporting date: 2014-06-30), 10-K (reporting date: 2013-06-30), 10-K (reporting date: 2012-06-30), 10-K (reporting date: 2011-06-30), 10-K (reporting date: 2010-06-30), 10-K (reporting date: 2009-06-30), 10-K (reporting date: 2008-06-30), 10-K (reporting date: 2007-06-30), 10-K (reporting date: 2006-06-30), 10-K (reporting date: 2005-06-30).