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Procter & Gamble (PG) Q4 FY2026 earnings: revenue $21.2 billion, up 1.5% on the year

Procter & Gamble Co. (PG) reported revenue of $21.2 billion for Q4 FY2026, the quarter ended 30 June 2026, up 1.5% on the same quarter a year earlier. Net income was $3.0 billion, down 15.8% on the year, and diluted earnings per share $1.26. The figures are the company's own, from the 10-K it filed with the SEC on 4 August 2026.

Revenue
$21.2 billion
+1.5% on the year · -0.2% on the quarter
Q1 FY2025Q4 FY2026
Operating margin
18.6%
20.8% a year earlier
Q1 FY2025Q4 FY2026
Net income
$3.0 billion
-15.8% on the year · -22.6% on the quarter
Q1 FY2025Q4 FY2026
Diluted EPS
$1.26
-14.9% on the year · -22.7% on the quarter
Q1 FY2025Q4 FY2026

this quarterthe same quarter a year earlierHover a bar for its figure.

What management said

Guidance figures: 9 new.

  • Quarter sales rose, EPS fell: Q4 net sales rose 2% to $21.2 billion with organic sales unchanged. Diluted EPS fell 15% to $1.26 and core EPS fell 3% to $1.43.
  • Beauty organic sales grew: Beauty organic sales rose 4% in the quarter. Hair Care and Personal Care grew mid-single digits, while Skin Care was unchanged, held back by a volume decline in Greater China.
  • Reported gross margin down, core flat: Reported gross margin fell 60 basis points. Core gross margin was unchanged, as productivity savings offset mix and reinvestment costs.
Read the earnings call summary

Income statement (profit and loss)

$ millionQ4 FY2026Q3 FY2026Q4 FY2025On the quarterOn the yearLast 8 quarters
Revenue21,20321,23520,889-0.2%+1.5%
Cost of revenue10,91910,72210,631+1.8%+2.7%
Gross profit10,28410,51310,258-2.2%+0.3%
Gross margin48.5%49.5%49.1%
Selling, general and administrative6,3355,9365,903+6.7%+7.3%
Operating income3,9504,5764,355-13.7%-9.3%
Operating margin18.6%21.5%20.8%
Interest expense237223212+6.3%+11.8%
Income tax8511,039895-18.1%-4.9%
Net income3,0453,9323,616-22.6%-15.8%
Net margin14.4%18.5%17.3%
Diluted EPS$1.26$1.63$1.48-22.7%-14.9%
$ million except per share.
Read moreFourth quarters are the year less the first three quarters. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.

Cash flow

$ millionQ4 FY2026Q3 FY2026Q4 FY2025On the quarterOn the yearLast 8 quarters
Operating cash flow5,1314,0454,985+26.8%+2.9%
Capital expenditure1,0231,019996+0.4%+2.7%
Free cash flow4,1083,0263,989+35.8%+3.0%
Free cash flow margin19.4%14.3%19.1%
Cash from investing-1,196-665-1,063
Cash from financing-6,306-1,827-3,616
Depreciation and amortisation811785723+3.3%+12.2%
Share-based compensation131132112-0.8%+17.0%
Buybacks875625700+40.0%+25.0%
Dividends paid2,6092,5302,553+3.1%+2.2%
Dividend per sharen/a$1.06n/a
Diluted shares, weighted2,413m2,416m2,444m-0.2%-1.3%
Shares outstanding at period end2,324m2,329m2,342m-0.2%-0.8%

Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.

Balance sheet

$ millionQ4 FY2026Q3 FY2026Q4 FY2025On the quarterOn the yearLast 8 quarters
Shareholders' equity54,31154,73152,284-0.8%+3.9%
Debt34,13837,02634,508-7.8%-1.1%
Operating lease liabilities641n/a701-8.6%
Other liabilities37,43136,62137,738+2.2%-0.8%
Total liabilities and equity126,521128,378125,231-1.4%+1.0%
Fixed assets25,36024,57423,897+3.2%+6.1%
Goodwill41,27641,35941,650-0.2%-0.9%
Intangible assets21,44421,53121,910-0.4%-2.1%
Cash and equivalents9,94212,3069,556-19.2%+4.0%
Receivables6,0566,3226,185-4.2%-2.1%
Inventory8,1707,8537,551+4.0%+8.2%
Other assets14,27314,43314,482-1.1%-1.4%
Total assets126,521128,378125,231-1.4%+1.0%

Questions

What was Procter & Gamble's revenue in Q4 FY2026?

Procter & Gamble (PG) reported revenue of $21.2 billion for Q4 FY2026, the quarter ended 30 June 2026, up 1.5% on the same quarter a year earlier.

How much did Procter & Gamble earn in Q4 FY2026?

Net income for Q4 FY2026 was $3.0 billion, down 15.8% on the year, and diluted earnings per share $1.26.

When did Procter & Gamble report Q4 FY2026 results?

Procter & Gamble filed its 10-K for the year that ended with the quarter on 4 August 2026; the fourth quarter is the year less the first three.

Quarterly results, the last 20 quarters

Q2 FY2022Q3 FY2022Q4 FY2022 *Q1 FY2023Q2 FY2023Q3 FY2023Q4 FY2023 *Q1 FY2024Q2 FY2024Q3 FY2024Q4 FY2024 *Q1 FY2025Q2 FY2025Q3 FY2025Q4 FY2025 *Q1 FY2026Q2 FY2026Q3 FY2026Q4 FY2026 *Q1 FY2027
Revenue20,95319,38119,51520,61220,77320,06820,55321,87121,44120,19520,53221,73721,88219,77620,88922,38622,20821,23521,20323,276
Cost of revenue10,66410,32610,80210,84610,89710,40410,61310,50110,1449,85510,34810,42110,4189,69410,63110,88710,83410,72210,91911,678
Gross profit10,2899,0558,7139,7669,8769,6649,94011,37011,29710,34010,18411,31611,46410,08210,25811,49911,37410,51310,28411,598
Gross margin49%47%45%47%48%48%48%52%53%51%50%52%52%51%49%51%51%50%49%50%
SG&A5,1215,0315,1154,8275,0915,4165,7785,6045,5225,8806,2995,5195,7235,5245,9035,6436,0085,9366,3355,661
Operating income5,1684,0243,5984,9394,7854,2484,1625,7674,4334,4603,8855,7975,7414,5584,3555,8565,3664,5763,9505,937
Operating margin25%21%18%24%23%21%20%26%21%22%19%27%26%23%21%26%24%22%19%26%
Interest expense106109115123171222240225248233219238240217212197220223237223
Net income4,2233,3553,0523,9393,9333,3973,3844,5213,4683,7543,1363,9594,6303,7693,6164,7504,3193,9323,0454,731
Net margin20%17%16%19%19%17%16%21%16%19%15%18%21%19%17%21%19%19%14%20%
Diluted EPS$1.66$1.33$1.21$1.57$1.59$1.37$1.37$1.83$1.40$1.52$1.27$1.61$1.88$1.54$1.48$1.95$1.78$1.63$1.26$1.97
Operating cash flow5,1213,2463,7134,0703,5743,8635,3414,9045,1004,0885,7544,3024,8253,7054,9855,4084,9724,0455,1315,767
Capital expenditure6267476928907087307349258177977839939258599961,2001,1671,0191,0231,366
Free cash flow4,4952,4993,0213,1802,8663,1334,6073,9794,2833,2914,9713,3093,9002,8463,9894,2083,8053,0264,1084,401
Buybacks4,7541,2491,2504,0002,0021,3510.01,5001,0039871,5161,9392,5101,3517001,2502,2786258751,250
Dividends paid2,1712,1552,2622,2552,2312,2242,2892,2902,2882,2852,4492,4452,4412,4332,5532,5492,5442,5302,6092,603
Shares outstanding2,397m2,399m2,390m2,370m2,359m2,357m2,357m2,357m2,353m2,360m2,354m2,355m2,345m2,345m2,342m2,337m2,324m2,329m2,324m2,318m
Filing10-Q10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q10-K10-Q
Each quarter as filed, linked to its filing.
Read more* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A fourth quarter's EPS, and its diluted share count where shown, are from the company's results press release for that quarter, checked against the company's filed figures or a second data source. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

10-K for the period ended 30 June 2026, filed 4 August 2026: the filing.