Companies · PG
Procter & Gamble
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Latest analysis
Updated Oct 22, 2026
P&G Q1 FY2027: 4% sales growth offset by 160bp gross margin compression from commodities and product investments.
Procter & Gamble delivered 4.0% organic sales growth in Q1 FY2027 (quarter ended September 30, 2026), driven by 2.4% unit volume growth, 1.1% geographic mix benefit, and 0.4% pricing. However, gross margin compressed 160 basis points to 49.8% of sales, with 140 basis points attributable to higher commodity costs and 140 basis points from product and packaging investments. The company offset these headwinds with 120 basis points of manufacturing productivity savings and benefited from tariff recoveries, but net earnings remained essentially flat year-over-year. P&G completed the acquisition of Thorne for $3.9 billion on October 1, 2026, and expects to incur the remainder of a $2.0 billion restructuring program in FY2027.
Tone: cautiousRevenue
$87B
PG 10-K · FY 2026
Employees
104,000
Revenue FY2025
$84.3B
Founded
1837
Profile
PG 10-K Item 1 · Aug 4, 2026Procter & Gamble is a multinational consumer goods company that develops, manufactures, markets and distributes a diversified portfolio of branded daily-use products across five reportable segments. Products are sold in approximately 180 countries and territories through mass retail, digital commerce, drug, club, and direct-to-consumer channels. The company's strategy centers on superiority across product performance, packaging, brand communication, retail execution, and value.
Read filing description ↓ Collapse description ↑
Our business model is focused on delivering sustainable value creation by driving balanced top- and bottom-line growth. We create, manufacture, market and distribute a diversified portfolio of daily-use products to delight consumers with irresistible superiority across five key vectors - product performance, packaging, brand communication, retail execution and value. We invest in research and development and consumer insights to invent new categories or products and innovate our existing products, ensuring they meet evolving consumer needs and preferences. We leverage marketing strategies including advertising, promotions and endorsements to drive brand awareness and loyalty among consumers. The Company utilizes various distribution channels, including retail stores, digital commerce platforms and direct-to-consumer platforms to deliver our products. Our business model relies on continued productivity improvements to fuel investments in research and development and marketing and deliver value creation. Our objective is to deliver sustainable and balanced top- and bottom-line growth while serving the needs of all stakeholders — consumers, customers, employees, society and shareowners. Our organizational structure is comprised of Sector Business Units (SBUs), Enterprise Markets (EMs), Corporate Functions (CF) and Global Business Services (GBS). The Company's product categories are organized into five SBUs and five reportable segments (under U.S. GAAP): Beauty; Grooming; Health Care; Fabric & Home Care; and Baby, Feminine & Family Care. The SBUs are responsible for global brand strategy, product upgrades and innovation, marketing plans and supply chain.
Primary products
- Beauty products
- Grooming products
- Health Care products
- Fabric & Home Care products
- Baby, Feminine & Family Care products
Business segments
End markets
Geographies
Named customers
Sales to Walmart Inc. and its affiliates represent approximately 16% of our total sales in 2026, 2025 and 2024. No other customer represents more than 10% of our total sales. Our top ten customers accounted for approximately 43% of our total net sales in 2026 and 2025 and 42% in 2024.
Named competitors
“In this highly competitive setting, we are well positioned in the industry segments and markets in which we operate, often holding a leadership or significant market share position.” Competitive position, as stated in the filing
Revenue commentary · FY 2026
Total company net sales increased from $84,284 million in fiscal 2025 to $87,032 million in fiscal 2026, driven by growth across the Beauty, Grooming, Health Care, Fabric & Home Care, and Baby, Feminine & Family Care segments.
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