Liquidity ratios measure the company ability to meet its short-term obligations.

Procter & Gamble Co., liquidity ratios

	Jun 30, 2024	Jun 30, 2023	Jun 30, 2022	Jun 30, 2021	Jun 30, 2020	Jun 30, 2019
Current ratio	0.73	0.63	0.65	0.70	0.85	0.75
Quick ratio	0.46	0.38	0.37	0.45	0.62	0.51
Cash ratio	0.28	0.23	0.22	0.31	0.49	0.34

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Liquidity ratio	Description	The company
Current ratio	A liquidity ratio calculated as current assets divided by current liabilities.	Procter & Gamble Co. current ratio deteriorated from 2022 to 2023 but then improved from 2023 to 2024 exceeding 2022 level.
Quick ratio	A liquidity ratio calculated as (cash plus short-term marketable investments plus receivables) divided by current liabilities.	Procter & Gamble Co. quick ratio improved from 2022 to 2023 and from 2023 to 2024.
Cash ratio	A liquidity ratio calculated as (cash plus short-term marketable investments) divided by current liabilities.	Procter & Gamble Co. cash ratio improved from 2022 to 2023 and from 2023 to 2024.

Procter & Gamble Co., current ratio calculation, comparison to benchmarks

	Jun 30, 2024	Jun 30, 2023	Jun 30, 2022	Jun 30, 2021	Jun 30, 2020	Jun 30, 2019
Selected Financial Data (US$ in millions)
Current assets	24,709)	22,648)	21,653)	23,091)	27,987)	22,473)
Current liabilities	33,627)	35,756)	33,081)	33,132)	32,976)	30,011)
Liquidity Ratio
Current ratio¹	0.73	0.63	0.65	0.70	0.85	0.75
Benchmarks
Current Ratio, Industry
Consumer Staples	—	0.85	0.89	0.93	0.93	0.84

¹ 2024 Calculation
Current ratio = Current assets ÷ Current liabilities
= 24,709 ÷ 33,627 = 0.73

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Liquidity ratio	Description	The company
Current ratio	A liquidity ratio calculated as current assets divided by current liabilities.	Procter & Gamble Co. current ratio deteriorated from 2022 to 2023 but then improved from 2023 to 2024 exceeding 2022 level.

Procter & Gamble Co., quick ratio calculation, comparison to benchmarks

	Jun 30, 2024	Jun 30, 2023	Jun 30, 2022	Jun 30, 2021	Jun 30, 2020	Jun 30, 2019
Selected Financial Data (US$ in millions)
Cash and cash equivalents	9,482)	8,246)	7,214)	10,288)	16,181)	4,239)
Available-for-sale investment securities	—)	—)	—)	—)	—)	6,048)
Accounts receivable	6,118)	5,471)	5,143)	4,725)	4,178)	4,951)
Total quick assets	15,600)	13,717)	12,357)	15,013)	20,359)	15,238)

Current liabilities	33,627)	35,756)	33,081)	33,132)	32,976)	30,011)
Liquidity Ratio
Quick ratio¹	0.46	0.38	0.37	0.45	0.62	0.51
Benchmarks
Quick Ratio, Industry
Consumer Staples	—	0.36	0.38	0.42	0.46	0.38

¹ 2024 Calculation
Quick ratio = Total quick assets ÷ Current liabilities
= 15,600 ÷ 33,627 = 0.46

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Liquidity ratio	Description	The company
Quick ratio	A liquidity ratio calculated as (cash plus short-term marketable investments plus receivables) divided by current liabilities.	Procter & Gamble Co. quick ratio improved from 2022 to 2023 and from 2023 to 2024.

Procter & Gamble Co., cash ratio calculation, comparison to benchmarks

	Jun 30, 2024	Jun 30, 2023	Jun 30, 2022	Jun 30, 2021	Jun 30, 2020	Jun 30, 2019
Selected Financial Data (US$ in millions)
Cash and cash equivalents	9,482)	8,246)	7,214)	10,288)	16,181)	4,239)
Available-for-sale investment securities	—)	—)	—)	—)	—)	6,048)
Total cash assets	9,482)	8,246)	7,214)	10,288)	16,181)	10,287)

Current liabilities	33,627)	35,756)	33,081)	33,132)	32,976)	30,011)
Liquidity Ratio
Cash ratio¹	0.28	0.23	0.22	0.31	0.49	0.34
Benchmarks
Cash Ratio, Industry
Consumer Staples	—	0.23	0.24	0.30	0.34	0.25

¹ 2024 Calculation
Cash ratio = Total cash assets ÷ Current liabilities
= 9,482 ÷ 33,627 = 0.28

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Liquidity ratio	Description	The company
Cash ratio	A liquidity ratio calculated as (cash plus short-term marketable investments) divided by current liabilities.	Procter & Gamble Co. cash ratio improved from 2022 to 2023 and from 2023 to 2024.

Procter & Gamble Co. (NYSE:PG)

Analysis of Liquidity Ratios