Earnings before Interest, Tax, Depreciation and Amortization (EBITDA)
EV to EBITDA Ratio, Current
EV to EBITDA Ratio, Historical

Procter & Gamble Co., EBITDA calculation

US$ in millions

12 months ended:	Jun 30, 2025	Jun 30, 2024	Jun 30, 2023	Jun 30, 2022	Jun 30, 2021	Jun 30, 2020
Net earnings attributable to Procter & Gamble (P&G)	15,974)	14,879)	14,653)	14,742)	14,306)	13,027)
Add: Net income attributable to noncontrolling interest	91)	95)	85)	51)	46)	76)
Add: Income tax expense	4,102)	3,787)	3,615)	3,202)	3,263)	2,731)
Earnings before tax (EBT)	20,167)	18,761)	18,353)	17,995)	17,615)	15,834)
Add: Interest expense	907)	925)	756)	439)	502)	465)
Earnings before interest and tax (EBIT)	21,074)	19,686)	19,109)	18,434)	18,117)	16,299)
Add: Depreciation and amortization	2,847)	2,896)	2,714)	2,807)	2,735)	3,013)
Earnings before interest, tax, depreciation and amortization (EBITDA)	23,921)	22,582)	21,823)	21,241)	20,852)	19,312)

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 Earnings Attributable to Procter & Gamble (P&G): The net earnings have exhibited a generally upward trajectory over the analyzed periods. Starting at 13,027 million USD in 2020, earnings increased each year with minor fluctuations, reaching 15,974 million USD by 2025. This reflects a steady growth trend with an increase of approximately 22.6% over the five-year span.
Earnings Before Tax (EBT): EBT showed consistent growth throughout the years under review. Beginning at 15,834 million USD in 2020, it rose steadily to 20,167 million USD by 2025. The progression indicates a stable operating environment and effective cost management, with an overall increase of nearly 27.4% within five years.
Earnings Before Interest and Tax (EBIT): The EBIT figures reflect a similar pattern of growth, advancing from 16,299 million USD in 2020 to 21,074 million USD in 2025. The increments suggest strengthening operational profitability, with consistent expansion observed year-over-year, corresponding to an approximate increase of 29.3%.
Earnings Before Interest, Tax, Depreciation and Amortization (EBITDA): EBITDA values consistently rose from 19,312 million USD in 2020 to 23,921 million USD in 2025, marking an overall improvement of about 23.9%. This upward trend indicates enhanced earnings capacity excluding non-cash charges, pointing toward effective management of core business activities and operational expenses.

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Procter & Gamble Co., current EV/EBITDA calculation, comparison to benchmarks

Selected Financial Data (US$ in millions)
Enterprise value (EV)	399,516)
Earnings before interest, tax, depreciation and amortization (EBITDA)	23,921)
Valuation Ratio
EV/EBITDA	16.70
Benchmarks
EV/EBITDA, Industry
Consumer Staples	20.06

Based on: 10-K (reporting date: 2025-06-30).

If the company EV/EBITDA is lower then the EV/EBITDA of benchmark then company is relatively undervalued.
Otherwise, if the company EV/EBITDA is higher then the EV/EBITDA of benchmark then company is relatively overvalued.

Procter & Gamble Co., historical EV/EBITDA calculation, comparison to benchmarks

	Jun 30, 2025	Jun 30, 2024	Jun 30, 2023	Jun 30, 2022	Jun 30, 2021	Jun 30, 2020
Selected Financial Data (US$ in millions)
Enterprise value (EV)¹	379,137)	419,670)	393,511)	371,203)	366,108)	349,722)
Earnings before interest, tax, depreciation and amortization (EBITDA)²	23,921)	22,582)	21,823)	21,241)	20,852)	19,312)
Valuation Ratio
EV/EBITDA³	15.85	18.58	18.03	17.48	17.56	18.11
Benchmarks
EV/EBITDA, Industry
Consumer Staples	—	17.62	16.39	16.42	15.65	14.89

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 See details »

² See details »

³ 2025 Calculation
EV/EBITDA = EV ÷ EBITDA
= 379,137 ÷ 23,921 = 15.85

Enterprise Value (EV) Trends: The enterprise value exhibited a steady upward trend from June 30, 2020, to June 30, 2024, increasing from 349,722 million US dollars to 419,670 million US dollars. However, there was a decline in the final period, dropping to 379,137 million US dollars as of June 30, 2025.
EBITDA Performance: Earnings before interest, tax, depreciation, and amortization showed continuous growth across the entire timeframe. Starting at 19,312 million US dollars in June 2020, EBITDA increased steadily each year, reaching 23,921 million US dollars by June 2025. This represents a consistent improvement in operational profitability.
EV to EBITDA Ratio Analysis: The EV/EBITDA ratio fluctuated moderately over the periods analyzed. It initially decreased from 18.11 in 2020 to 17.48 in 2022, suggesting that the enterprise value grew at a slightly slower pace relative to EBITDA during that time. The ratio then increased to 18.58 by June 2024, indicating a relative increase in enterprise value compared to earnings. Finally, there was a notable drop to 15.85 in June 2025, driven by the simultaneous decrease in enterprise value and increase in EBITDA, suggesting potentially more attractive valuation levels relative to earnings in the most recent period.
Overall Insights: The data reflects improving operational earnings alongside an expanding enterprise value until mid-2024, followed by a contraction in enterprise valuation in the last year assessed. The steady rise in EBITDA demonstrates enhanced earnings capacity, while the declining EV/EBITDA ratio in the final year may indicate a market reassessment of the company's valuation, possibly presenting an opportunity for investment based on improved earnings performance relative to enterprise value.

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Procter & Gamble Co. (NYSE:PG)

Enterprise Value to EBITDA (EV/EBITDA)

Earnings before Interest, Tax, Depreciation and Amortization (EBITDA)

Enterprise Value to EBITDA Ratio, Current

Enterprise Value to EBITDA Ratio, Historical