Analysis of Geographic Areas
Procter & Gamble Co. operates in 2 regions: United States and International.
Area Asset Turnover
Procter & Gamble Co., asset turnover by geographic area
| Jun 30, 2025 | Jun 30, 2024 | Jun 30, 2023 | Jun 30, 2022 | Jun 30, 2021 | Jun 30, 2020 | |
|---|---|---|---|---|---|---|
| United States | 3.30 | 3.38 | 3.39 | 3.41 | 3.34 | 3.16 |
| International | 3.78 | 4.26 | 4.12 | 4.16 | 3.66 | 3.68 |
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).
- United States Asset Turnover Trend
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The asset turnover ratio in the United States exhibits a moderate upward trend from 3.16 in 2020 to a peak of 3.41 in 2022. This indicates a gradual improvement in the efficiency with which the company utilizes its assets to generate revenue in this region over the initial three years.
However, after reaching this peak in 2022, the ratio shows a slight decline, decreasing to 3.39 in 2023 and further to 3.38 in 2024, with a more marked drop to 3.3 projected in 2025. This suggests a diminishing efficiency or potential challenges in asset utilization in the United States market during the most recent and projected periods.
- International Asset Turnover Trend
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The international asset turnover ratio starts at 3.68 in 2020, slightly decreasing to 3.66 in 2021, which indicates a minor dip in asset utilization efficiency internationally at that time.
From 2021 onwards, a more pronounced increase occurs, reaching a high of 4.16 in 2022, suggesting improved operational efficiency or stronger revenue generation relative to assets internationally.
Following this peak, there is a slight decline to 4.12 in 2023, a rebound to 4.26 in 2024, and then a more significant projected decrease to 3.78 in 2025. The fluctuations imply volatility in international asset turnover performance, signaling potential external or operational factors influencing this metric.
- Comparative Insights
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Throughout the observed periods, the international asset turnover consistently remains higher than the United States counterpart, indicating relatively greater efficiency in asset utilization outside the domestic market.
Both regions display peaks around 2022, followed by varied patterns of decline in the subsequent years, which may reflect broader market trends or company-specific strategic shifts impacting asset efficiency.
The declines projected in 2025 for both regions warrant attention, as they suggest a reversal of prior gains and potential challenges that may affect future revenue-generation capabilities relative to invested assets.
Area Asset Turnover: United States
Procter & Gamble Co.; United States; area asset turnover calculation
| Jun 30, 2025 | Jun 30, 2024 | Jun 30, 2023 | Jun 30, 2022 | Jun 30, 2021 | Jun 30, 2020 | |
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||
| Net sales | 41,600) | 40,500) | 38,700) | 36,500) | 33,700) | 31,300) |
| Long-lived assets | 12,600) | 12,000) | 11,400) | 10,700) | 10,100) | 9,900) |
| Area Activity Ratio | ||||||
| Area asset turnover1 | 3.30 | 3.38 | 3.39 | 3.41 | 3.34 | 3.16 |
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).
1 2025 Calculation
Area asset turnover = Net sales ÷ Long-lived assets
= 41,600 ÷ 12,600 = 3.30
The financial data for the United States geographic area reveals several key trends over the six-year period ending June 30, 2025.
- Net Sales
- Net sales demonstrate a consistent upward trajectory, growing from $31,300 million in 2020 to $41,600 million in 2025. This represents a compound increase of approximately 33% over the period, reflecting steady revenue growth year over year.
- Long-Lived Assets
- Long-lived assets also show a gradual increase, rising from $9,900 million in 2020 to $12,600 million in 2025. The increase appears steady and proportional, suggesting ongoing investment in asset base to support operational capabilities.
- Area Asset Turnover
- Area asset turnover, which measures the efficiency of asset use in generating sales, rises from 3.16 in 2020 to a peak of 3.41 in 2022. However, from 2022 onward, this ratio slightly declines to 3.3 by 2025. Despite the minor decrease, the turnover ratio maintains a relatively high level, indicating effective utilization of assets overall, although there may be some diminishing efficiency in the most recent years.
Overall, the data illustrates robust sales growth supported by a steady increase in long-lived assets, with asset utilization efficiency improving initially and stabilizing at a strong level in subsequent years. This balance suggests a positive alignment between investment in assets and the ability to generate sales in the United States market.
Area Asset Turnover: International
Procter & Gamble Co.; International; area asset turnover calculation
| Jun 30, 2025 | Jun 30, 2024 | Jun 30, 2023 | Jun 30, 2022 | Jun 30, 2021 | Jun 30, 2020 | |
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||
| Net sales | 42,700) | 43,500) | 43,300) | 43,700) | 42,400) | 39,700) |
| Long-lived assets | 11,300) | 10,200) | 10,500) | 10,500) | 11,600) | 10,800) |
| Area Activity Ratio | ||||||
| Area asset turnover1 | 3.78 | 4.26 | 4.12 | 4.16 | 3.66 | 3.68 |
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).
1 2025 Calculation
Area asset turnover = Net sales ÷ Long-lived assets
= 42,700 ÷ 11,300 = 3.78
- Net sales
- Net sales exhibited a gradual upward trend from US$39,700 million in June 2020 to a peak of US$43,700 million in June 2022. Subsequently, there was a slight decline, with sales decreasing to US$42,700 million by June 2025, indicating some fluctuation but overall relative stability near the higher end of the range.
- Long-lived assets
- Long-lived assets showed some variability over the period. After increasing from US$10,800 million in June 2020 to US$11,600 million in June 2021, the asset base declined to US$10,200 million by June 2024. There was a rebound in June 2025 to US$11,300 million, suggesting a possible reinvestment or asset acquisition during the final year observed.
- Area asset turnover
- The area asset turnover ratio remained relatively stable from June 2020 through June 2021, around 3.68 to 3.66. It then increased noticeably to a peak of 4.26 in June 2024, implying improved efficiency in utilizing assets to generate sales during this period. This was followed by a decline to 3.78 in June 2025, indicating a reduction in asset utilization efficiency.
- Overall insights
- The data indicates that while net sales have generally trended upward followed by a modest decline, the long-lived asset base fluctuated with a mid-period decrease and a late increase. The area asset turnover ratio improved significantly in the middle years, signaling more effective use of assets, but then decreased in the last year. This pattern suggests periods of both enhanced operational efficiency and asset base realignment that impacted overall turnover and sales performance.
Net sales
Procter & Gamble Co., net sales by geographic area
US$ in millions
| Jun 30, 2025 | Jun 30, 2024 | Jun 30, 2023 | Jun 30, 2022 | Jun 30, 2021 | Jun 30, 2020 | |
|---|---|---|---|---|---|---|
| United States | 41,600) | 40,500) | 38,700) | 36,500) | 33,700) | 31,300) |
| International | 42,700) | 43,500) | 43,300) | 43,700) | 42,400) | 39,700) |
| Total | 84,300) | 84,000) | 82,000) | 80,200) | 76,100) | 71,000) |
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 net sales data exhibits trends across two primary geographic areas — the United States and International regions — over a six-year span.
- United States
- Net sales in the United States demonstrate a consistent upward trajectory from 2020 to 2025. Starting at US$31,300 million in 2020, the figures show annual increments each year, reaching US$41,600 million by 2025. This steady growth suggests a robust and expanding domestic market presence.
- International
- International net sales initially increase from US$39,700 million in 2020 to a peak of US$43,700 million in 2022. However, after this peak, there is a slight decline and fluctuation, with values dropping to US$43,300 million in 2023, slightly rebounding to US$43,500 million in 2024, and decreasing again to US$42,700 million in 2025. This pattern indicates some volatility and potential challenges or market saturation internationally during the latter years.
- Total Net Sales
- Total net sales reflect the combined performance of both regions and show a continual increase from US$71,000 million in 2020 to US$84,300 million in 2025. The growth rate appears to slow slightly from 2023 onward but remains positive. The upward trend is primarily driven by the steady growth in the United States, which offsets the variability in the international segment.
In summary, the data indicate solid expansion in the United States market, contrasting with a more varied and somewhat stagnant pattern internationally. The overall total sales growth is positive, supported mainly by the increasing domestic sales figures.
Long-lived assets
Procter & Gamble Co., long-lived assets by geographic area
US$ in millions
| Jun 30, 2025 | Jun 30, 2024 | Jun 30, 2023 | Jun 30, 2022 | Jun 30, 2021 | Jun 30, 2020 | |
|---|---|---|---|---|---|---|
| United States | 12,600) | 12,000) | 11,400) | 10,700) | 10,100) | 9,900) |
| International | 11,300) | 10,200) | 10,500) | 10,500) | 11,600) | 10,800) |
| Total | 23,900) | 22,200) | 21,900) | 21,200) | 21,700) | 20,700) |
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).
- United States Long-Lived Assets
- The value of long-lived assets in the United States shows a consistent upward trend over the analyzed periods. Starting at 9,900 million US dollars on June 30, 2020, the amount increased steadily each year, reaching 12,600 million US dollars by June 30, 2025. This represents a total growth of approximately 27.3% over five years, indicating sustained investment or asset retention in the domestic market.
- International Long-Lived Assets
- The international segment displays more variability. Beginning at 10,800 million US dollars in June 2020, the asset value rose to 11,600 million by June 2021 but then declined to 10,500 million in 2022, remaining flat in 2023. A further decrease occurred in 2024, down to 10,200 million, before rebounding to 11,300 million in 2025. This fluctuation suggests uneven investment or asset management internationally, with overall modest growth from 2020 to 2025, amounting to about 4.6% increase.
- Total Long-Lived Assets
- Total long-lived assets reflect the combined movement of the United States and international values. The total increased from 20,700 million US dollars in 2020 to 23,900 million in 2025. The upward trend was generally maintained despite some international declines, resulting in an overall growth of approximately 15.5% over the period. This growth is primarily driven by consistent increases in the United States and partially offset by fluctuations in international assets.
- Overall Observations
- The data suggests a strategic emphasis on domestic asset accumulation or retention, with steady growth in the United States market supporting total asset increases. Meanwhile, international assets experienced greater volatility, hinting at possible regional challenges, divestitures, or shifting investment priorities. The combined trend indicates cautious but positive growth in long-lived assets globally.