Company profile
SEC EDGAR ↗- Industry
- Soap, Detergents, Cleang Preparations, Perfumes, Cosmetics
- Listed
- NYSE: PG
- Incorporated
- OH
- Headquarters
- Cincinnati, OH
- Fiscal year end
- Jun 30
Financials
FY2025- Revenue
- $84.3B
- Net income
- $16.0B
- Total assets
- $125.2B
| Fiscal year | Revenue | Net income | Total assets |
|---|---|---|---|
| FY2025 | $84.3B | $16.0B | $125.2B |
| FY2024 | $84.0B | $14.9B | $122.4B |
| FY2023 | $82.0B | $14.7B | $120.8B |
| FY2022 | $80.2B | $14.7B | $117.2B |
| FY2021 | $76.1B | $14.3B | $119.3B |
| FY2020 | $71.0B | $13.0B | $120.7B |
Reported fiscal years from SEC filings (10-K) — SEC EDGAR ↗. Stratrix is a strategy publication, not a real-time financial data service.
The analyses
The Adjacency Expansion · Growth & Portfolio
P&G Cut 100 Brands and Lost Almost Nothing. That Was the Whole Point.
In 2014 P&G announced it would shed about 100 brands to keep around 65. It sounds like a brutal amputation. It wasn't - the brands it cut accounted for less than 10% of sales and under 5% of profits. The discipline wasn't the cutting. It was knowing what was already dead weight.
7 min
The Cannibalization Choice · Decision Forks
P&G Will Happily Kill Its Own Cash Cow — As Long As It Holds the Knife.
P&G has cannibalized itself for a century, from Tide over Ivory to Pods over liquid. But when Dollar Shave Club owned the channel instead of P&G, its razor share fell from 71% to 59% and the company reached for lawyers, not labs.
8 min
The Pricing Power · Business Model
P&G's Pricing Power Looked Like a Moat. Then It Vanished in Two Years.
In FY2023, price added 9 points to P&G's growth and the world called it premiumization. By FY2025 price added just 1 point — and Baby Care, Fabric Care, and Feminine Care were all losing share. That's not a moat. It's a cost pass-through wearing a tuxedo.
7 min
The Pendulum · Business Model
P&G's Pricing Swings Like a Pendulum — and the FY2024 Price Surge Is Already Slowing
Everyone treats P&G's pricing as doctrine. It isn't - it swings between coupons and stable list prices every time a shock hits. The 2020s price surge that pumped four points of growth into FY2024 isn't a new era; it's the pendulum mid-arc, already slowing.
8 min