Procter & Gamble Company (the) · NYSE:PG
Procter & Gamble Company (the) — Q4 2025 Earnings Presentation
35 slides from Procter & Gamble Company (the)'s earnings presentation, Jul 29, 2025
Slide 1: Earnings Release: FY & Q4 FY 2025 Results
EARNINGS RELEASE FY & Q4 FY 2025 RESULTS July 29, 2025
Slide 2: Strategy & Focus Areas
STRATEGY & FOCUS AREAS INTEGRATED AREAS OF FOCUS GROWTH STRATEGY SUPPLY CHAIN PORTFOLIO PERFORMANCE DRIVES BRAND CHOICE ENVIRONMENTAL SUSTAINABILITY SUPERIORITY ORGANIZATION TO WIN WITH CONSUMERS EMPOWERED • AGILE ACCOUNTABLE DIGITAL ACUMEN CONSTRUCTIVE PRODUCTIVITY EMPLOYEE DISRUPTION ACROSS OUR BU
Slide 3: Business Results FY 2025
BUSINESS RESULTS FY 2025
Slide 4: FY 2025 Highlights
FY 2025 HIGHLIGHTS Execution of our integrated strategy enabled the Company to grow organic sales and core EPS and to return cash to shareowners in-line with our target range in a challenging Fiscal 2025 despite volatile macro-economic, geopolitical and consumer dynamics. Organic sales grew 2%, driv
Slide 5: FY 2025 Results
FY 2025 RESULTS FY ’25 Organic Sales Growth +2% Organic Volume Growth +1% Core EPS Growth +4% Currency Neutral Core EPS Growth +4% Adjusted Free Cash Flow Productivity 87%
Slide 6: Organic Sales Growth Annual Progression
ORGANIC SALES GROWTH ANNUAL PROGRESSION • Organic volume contributed 1 point to organic sales growth. • Pricing contributed 1 point to organic sales growth. • Mix was neutral. 7% 7% 6% 6% 5% 4% 2% FY '19 FY '20 FY '21 FY '22 FY '23 FY '24 FY '25
Slide 7: Core EPS Growth Annual Progression
CORE EPS GROWTH ANNUAL PROGRESSION • Core gross margin -40 basis points • Core operating margin +50 basis points • Total productivity savings +320 basis points 13% 11% 7% 12% 4% 3% 2% FY '19 FY '20 FY '21 FY '22 FY '23 FY '24 FY '25
Slide 8: Currency Neutral Core EPS Growth Annual Progression
CURRENCY NEUTRAL CORE EPS GROWTH ANNUAL PROGRESSION • Core Gross margin ex-FX -20 basis points • Core Operating margin ex-FX +50 basis points 17% 16% 15% 11% 11% 5% 4% FY '19 FY '20 FY '21 FY '22 FY '23 FY '24 FY '25
Slide 9: Global Market Shares
GLOBAL MARKET SHARES TOP 50 Category/ Country Combinations 38 33 30 32 31 28 30 26 23 17 # Grew/Held Value Share Share data through May 2025
Slide 10: Returning Value to Shareholders
RETURNING VALUE TO SHAREHOLDERS CASH RETURNED ADJUSTED FREE TO OWNERS DIVIDENDS SHARE CASH FLOW via Dividends & PAYMENTS REPURCHASE PRODUCTIVITY Share Repurchase $9.9 $6.5 87% $151 FY 2025 Bn P10Y Bn FY 2025 Bn FY 2025
Slide 11: Business Results Q4 FY 2025
BUSINESS RESULTS Q4 FY 2025 bres
Slide 12: Q4 FY 2025 Results
Q4 FY 2025 RESULTS Q4 FY ’25 Organic Sales Growth +2% Organic Volume Growth +0% Core EPS Growth +6% Currency Neutral Core EPS Growth +5% Adjusted Free Cash Flow Productivity 110%
Slide 13: Organic Sales Growth Q4 FY 2025 Results
ORGANIC SALES GROWTH Q4 FY 2025 RESULTS • Organic volume was flat. • Pricing contributed 1 point to organic sales growth. • Mix contributed 1 point to organic sales growth. 7% 4% 3% 3% 2% 2% 2% 1% Q1 FY '24 Q2 FY '24 Q3 FY '24 Q4 FY '24 Q1 FY '25 Q2 FY '25 Q3 FY '25 Q4 FY '25
Slide 14: Core EPS Growth Q4 FY 2025 Results
CORE EPS GROWTH Q4 FY 2025 RESULTS • Core gross margin -70 basis points • Core operating margin +150 basis points • Total productivity savings +560 basis points 17% 16% 11% 6% 5% 1% 2% 2% Q1 FY '24 Q2 FY '24 Q3 FY '24 Q4 FY '24 Q1 FY '25 Q2 FY '25 Q3 FY '25 Q4 FY '25
Slide 15: Currency Neutral Core EPS Growth Q4 FY 2025 Results
CURRENCY NEUTRAL CORE EPS GROWTH Q4 FY 2025 RESULTS • Core Gross margin ex-FX -50 basis points • Core Operating margin ex-FX +170 basis points 21% 18% 18% 6% 5% 4% 3% 3% Q1 FY '24 Q2 FY '24 Q3 FY '24 Q4 FY '24 Q1 FY '25 Q2 FY '25 Q3 FY '25 Q4 FY '25
Slide 16: Segment Results Q4 FY 2025
SEGMENT RESULTS Q4 FY 2025
Slide 17: Beauty Segment
Q4 FY 2025 RESULTS BEAUTY SEGMENT Constant Currency Organic Sales Organic Volume Net Earnings Net Earnings 8% 4% 1% 1% • Topline: +1% volume, +1% pricing, -1% mix • Share: Global Skin Care value share decreased 0.8 points, Global Personal Care value share increased 0.3 points and Global Hair Care va
Slide 18: Grooming Segment
Q4 FY 2025 RESULTS GROOMING SEGMENT Constant Currency Organic Sales Organic Volume Net Earnings Net Earnings 19% 22% 1% -1% • Topline: +4% pricing, -1% volume, -2% mix • Share: Global Grooming value share decreased 0.6 points versus year ago. • Net Earnings: Productivity savings and pricing partiall
Slide 19: Health Care Segment
Q4 FY 2025 RESULTS HEALTH CARE SEGMENT Constant Currency Organic Sales Organic Volume Net Earnings Net Earnings 14% 16% 2% -2% • Topline: +3% mix, +1% pricing, -2% volume • Share: Global Oral Care value share was flat and Global Personal Health Care value share increased 0.2 points versus year ago.
Slide 20: Fabric & Home Care Segment
Q4 FY 2025 RESULTS FABRIC & HOME CARE SEGMENT Constant Currency Organic Sales Organic Volume Net Earnings Net Earnings 11% 11% 1% 0% • Topline: +1% pricing, flat volume and mix • Share: Global Fabric Care value share was flat and Global Home Care value share increased 0.3 points versus year ago. • N
Slide 21: Baby, Feminine & Family Care Segment
Q4 FY 2025 RESULTS BABY, FEMININE & FAMILY CARE SEGMENT Constant Currency Organic Sales Organic Volume Net Earnings Net Earnings 12% 12% 1% 0% • Topline: +1% pricing, flat volume and mix • Share: Global Baby Care value share increased 0.3 points, Global Feminine Care value share increased 0.2 points
Slide 22: FY 2026 Guidance
FY 2026 GUIDANCE
Slide 23: FY 2026 Guidance: Sales
• Organic Sales Growth: +0% to +4% • Net Sales Growth: +1% to +5% FY 2026 – Includes a 1% positive impact from foreign exchange and acquisitions and divestitures GUIDANCE SALES FY ‘26 Organic Sales Growth +0% to +4% Net Sales Growth +1% to +5%
Slide 24: FY 2026 Guidance: Earnings Per Share
• Core EPS Growth: +0% to +4% • Outlooking $0.2bn after-tax headwind from commodities • Outlooking $0.8bn after-tax headwind from tariffs • Outlooking $0.3bn after-tax tailwind from foreign exchange • 2-point foreign exchange tailwind results in currency neutral core EPS growth of -2% to +2% FY 2026
Slide 25: FY 2026 Guidance: Cash Generation and Usage
FY 2026 Adjusted Free Cash Flow Productivity 85% to 90% GUIDANCE Capital Spending, % Sales 4% to 5% CASH ~$10bn GENERATION Dividends AND USAGE Direct Share Repurchase ~$5bn
Slide 26: FY 2026 Guidance Summary
METRIC FY 2026 GUIDANCE Organic Sales Growth +0% to +4% Net Sales Growth +1% to +5% Core EPS Growth +0% to +4% FY 2026 All-In EPS Growth +3% to +9% GUIDANCE Currency Neutral Core EPS Growth -2% to +2% SUMMARY Core Effective Tax Rate 20% to 21% Adjusted Free Cash Flow Productivity 85% to 90% Capital
Slide 27: FY 2026 Guidance: Potential Headwinds Not Included
• Significant deceleration of market growth rates FY 2026 • Significant currency weakness GUIDANCE POTENTIAL • Significant commodity cost increases HEADWINDS • Additional geo-political disruptions NOT INCLUDED IN GUIDANCE • Major supply chain disruption or store closures • Significant tariff changes
Slide 28: Slide 28
Slide 29: Forward Looking Statements
FORWARD LOOKING STATEMENTS Certain statements in this release other than purely historical information, including estimates, projections, statements relating to our business plans, objectives and expected operating results, and the assumptions upon which those statements are based, are "forward-look
Slide 30: Regulation G Reconciliation of Non-GAAP Measures
The Procter & Gamble Company Regulation G Reconciliation of Non-GAAP Measures The following provides definitions of the non-GAAP measures used in Procter & Gamble's July 29, 2025 earnings call, associated slides and other materials and the reconciliation to the most closely related GAAP measure. We
Slide 31: Non-GAAP Measure Definitions
adjustment to Core earnings includes only this transitional impact. It does not include the ongoing impacts of the lower U.S. statutory rate on pre-tax earnings. We do not view the above items to be part of our sustainable results, and their exclusion from core earnings measures provides a more comp
Slide 32: Organic Sales Growth Reconciliation
Organic Sales Growth Acquisition & Fiscal Year Ended Net Sales Foreign Exchange Divestiture Organic Sales June 30, 2025 Growth Impact Impact/Other* Growth Total Company —% 1% 1% 2% * Acquisition & Divestiture Impact/Other includes the volume and mix impact of acquisitions and divestitures and roundi
Slide 33: Core EPS and Currency-Neutral Core EPS
Core EPS and Currency-Neutral Core EPS Current and Prior Fiscal Years 2025 2024 2023 2022 2021 2020 2019 2018 Diluted Net Earnings Per Common Share from $6.51 $6.02 $5.90 $5.81 $5.50 $4.96 $1.43 $3.67 Continuing Operations, attributable to P&G 0.33 0.15 0.16 0.13 0.23 Incremental Restructuring Intan
Slide 34: Core Gross Margin and Core Operating Margin
3. Core gross margin and Currency-neutral Core gross margin: Three Months Ended June 30 2025 2024 Gross Margin 49.1% 49.6% Incremental restructuring — 0.2% Core Gross Margin 49.1% 49.8% Basis point change vs. prior year Core gross margin (70) Currency Impact to Margin 0.2% Currency-Neutral Core Gros
Slide 35: Adjusted Free Cash Flow and Productivity
Adjusted Free Cash Flow and Adjusted Free Cash Flow Productivity Fiscal Year Ended June 30, 2025 2017 U.S. Adjusted Adjustments Adjusted Free Operating Capital Tax Act Free Cash Net to Net Net Earnings Cash Flow Cash Flow Spending Payments Flow Earnings Earnings(1) as Adjusted Productivity $17,817 $
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