Procter & Gamble Co., current enterprise value calculation

Current share price (P)	$146.80
No. shares of common stock outstanding	2,324,433,060
US$ in millions
Common equity (market value)¹	341,227)
Add: Convertible Class A preferred stock, stated value $1 per share (per books)	756)
Add: Noncontrolling interest (per books)	230)
Total equity	342,213)
Add: Debt due within one year (per books)	11,296)
Add: Long-term debt, excluding due within one year (per books)	22,842)
Total equity and debt	376,351)
Less: Cash and cash equivalents	9,942)
Enterprise value (EV)	366,409)

Based on: 10-K (reporting date: 2026-06-30).

¹ Common equity (market value) = Share price × No. shares of common stock outstanding
= 146.80 × 2,324,433,060

Procter & Gamble Co., EV calculation

	Jun 30, 2026	Jun 30, 2025	Jun 30, 2024	Jun 30, 2023	Jun 30, 2022	Jun 30, 2021
Share price^1, 2	$148.01	$150.76	$168.06	$155.28	$144.72	$141.41
No. shares of common stock outstanding¹	2,324,433,060	2,342,371,488	2,354,050,987	2,357,306,187	2,389,553,883	2,427,424,874
US$ in millions
Common equity (market value)³	344,039)	353,136)	395,622)	366,043)	345,816)	343,262)
Add: Convertible Class A preferred stock, stated value $1 per share (book value)	756)	777)	798)	819)	843)	870)
Add: Noncontrolling interest (book value)	230)	272)	272)	288)	265)	276)
Total equity	345,025)	354,185)	396,692)	367,150)	346,924)	344,408)
Add: Debt due within one year (book value)	11,296)	9,513)	7,191)	10,229)	8,645)	8,889)
Add: Long-term debt, excluding due within one year (book value)	22,842)	24,995)	25,269)	24,378)	22,848)	23,099)
Total equity and debt	379,163)	388,693)	429,152)	401,757)	378,417)	376,396)
Less: Cash and cash equivalents	9,942)	9,556)	9,482)	8,246)	7,214)	10,288)
Enterprise value (EV)	369,221)	379,137)	419,670)	393,511)	371,203)	366,108)

Based on: 10-K (reporting date: 2026-06-30), 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).

¹ Data adjusted for splits and stock dividends.

² Closing price as at the filing date of Procter & Gamble Co. Annual Report.

³ 2026 Calculation
Common equity (market value) = Share price × No. shares of common stock outstanding
= 148.01 × 2,324,433,060

The financial trajectory of the enterprise value exhibits a period of steady expansion followed by a notable contraction. Between June 2021 and June 2024, there is a consistent upward trend across all measured capital metrics, culminating in a peak during the 2024 fiscal year before a reversal occurs in the subsequent two years.

Enterprise Value Fluctuations: The enterprise value rose from US$ 366,108 million in June 2021 to a peak of US$ 419,670 million in June 2024. This growth trend reversed after June 2024, with the value declining to US$ 379,137 million in 2025 and further decreasing to US$ 369,221 million by June 2026, nearly returning to the 2021 baseline.
Equity Valuation Parity: A high degree of correlation is observed between common equity market value and total equity. Throughout the analyzed period, these two figures remain nearly identical, indicating that the market valuation of the equity closely tracks its book value. Both metrics reached their maximum in June 2024, with market value at US$ 395,622 million and total equity at US$ 396,692 million.
Capitalization and Enterprise Value Relationship: Total equity and debt followed a growth and contraction pattern mirroring the enterprise value, peaking at US$ 429,152 million in June 2024. The enterprise value remained consistently lower than the total equity and debt figure across all periods, which indicates the consistent presence of net cash or similar adjustments in the calculation of the total enterprise valuation.

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Procter & Gamble Co. (NYSE:PG)

Enterprise Value (EV)

Current Enterprise Value (EV)

Historical Enterprise Value (EV)