Stock Analysis on Net

Procter & Gamble Co. (NYSE:PG)

$24.99

Analysis of Solvency Ratios

Microsoft Excel

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Solvency Ratios (Summary)

Procter & Gamble Co., solvency ratios

Microsoft Excel
Jun 30, 2024 Jun 30, 2023 Jun 30, 2022 Jun 30, 2021 Jun 30, 2020 Jun 30, 2019
Debt Ratios
Debt to equity
Debt to equity (including operating lease liability)
Debt to capital
Debt to capital (including operating lease liability)
Debt to assets
Debt to assets (including operating lease liability)
Financial leverage
Coverage Ratios
Interest coverage
Fixed charge coverage

Based on: 10-K (reporting date: 2024-06-30), 10-K (reporting date: 2023-06-30), 10-K (reporting date: 2022-06-30), 10-K (reporting date: 2021-06-30), 10-K (reporting date: 2020-06-30), 10-K (reporting date: 2019-06-30).

Solvency ratio Description The company
Debt to equity ratio A solvency ratio calculated as total debt divided by total shareholders’ equity. Procter & Gamble Co. debt to equity ratio deteriorated from 2022 to 2023 but then improved from 2023 to 2024 exceeding 2022 level.
Debt to equity ratio (including operating lease liability) A solvency ratio calculated as total debt (including operating lease liability) divided by total shareholders’ equity. Procter & Gamble Co. debt to equity ratio (including operating lease liability) deteriorated from 2022 to 2023 but then improved from 2023 to 2024 exceeding 2022 level.
Debt to capital ratio A solvency ratio calculated as total debt divided by total debt plus shareholders’ equity. Procter & Gamble Co. debt to capital ratio deteriorated from 2022 to 2023 but then improved from 2023 to 2024 exceeding 2022 level.
Debt to capital ratio (including operating lease liability) A solvency ratio calculated as total debt (including operating lease liability) divided by total debt (including operating lease liability) plus shareholders’ equity. Procter & Gamble Co. debt to capital ratio (including operating lease liability) deteriorated from 2022 to 2023 but then improved from 2023 to 2024 exceeding 2022 level.
Debt to assets ratio A solvency ratio calculated as total debt divided by total assets. Procter & Gamble Co. debt to assets ratio deteriorated from 2022 to 2023 but then improved from 2023 to 2024 exceeding 2022 level.
Debt to assets ratio (including operating lease liability) A solvency ratio calculated as total debt (including operating lease liability) divided by total assets. Procter & Gamble Co. debt to assets ratio (including operating lease liability) deteriorated from 2022 to 2023 but then improved from 2023 to 2024 exceeding 2022 level.
Financial leverage ratio A solvency ratio calculated as total assets divided by total shareholders’ equity. Procter & Gamble Co. financial leverage ratio increased from 2022 to 2023 but then decreased significantly from 2023 to 2024.

Solvency ratio Description The company
Interest coverage ratio A solvency ratio calculated as EBIT divided by interest payments. Procter & Gamble Co. interest coverage ratio deteriorated from 2022 to 2023 and from 2023 to 2024.
Fixed charge coverage ratio A solvency ratio calculated as earnings before fixed charges and tax divided by fixed charges. Procter & Gamble Co. fixed charge coverage ratio deteriorated from 2022 to 2023 and from 2023 to 2024.

Debt to Equity

Procter & Gamble Co., debt to equity calculation, comparison to benchmarks

Microsoft Excel
Jun 30, 2024 Jun 30, 2023 Jun 30, 2022 Jun 30, 2021 Jun 30, 2020 Jun 30, 2019
Selected Financial Data (US$ in millions)
Debt due within one year
Long-term debt, excluding due within one year
Total debt
 
Shareholders’ equity attributable to Procter & Gamble
Solvency Ratio
Debt to equity1
Benchmarks
Debt to Equity, Industry
Consumer Staples

Based on: 10-K (reporting date: 2024-06-30), 10-K (reporting date: 2023-06-30), 10-K (reporting date: 2022-06-30), 10-K (reporting date: 2021-06-30), 10-K (reporting date: 2020-06-30), 10-K (reporting date: 2019-06-30).

1 2024 Calculation
Debt to equity = Total debt ÷ Shareholders’ equity attributable to Procter & Gamble
= ÷ =

Solvency ratio Description The company
Debt to equity ratio A solvency ratio calculated as total debt divided by total shareholders’ equity. Procter & Gamble Co. debt to equity ratio deteriorated from 2022 to 2023 but then improved from 2023 to 2024 exceeding 2022 level.

Debt to Equity (including Operating Lease Liability)

Procter & Gamble Co., debt to equity (including operating lease liability) calculation, comparison to benchmarks

Microsoft Excel
Jun 30, 2024 Jun 30, 2023 Jun 30, 2022 Jun 30, 2021 Jun 30, 2020 Jun 30, 2019
Selected Financial Data (US$ in millions)
Debt due within one year
Long-term debt, excluding due within one year
Total debt
Current operating lease liabilities
Noncurrent operating lease liabilities
Total debt (including operating lease liability)
 
Shareholders’ equity attributable to Procter & Gamble
Solvency Ratio
Debt to equity (including operating lease liability)1
Benchmarks
Debt to Equity (including Operating Lease Liability), Industry
Consumer Staples

Based on: 10-K (reporting date: 2024-06-30), 10-K (reporting date: 2023-06-30), 10-K (reporting date: 2022-06-30), 10-K (reporting date: 2021-06-30), 10-K (reporting date: 2020-06-30), 10-K (reporting date: 2019-06-30).

1 2024 Calculation
Debt to equity (including operating lease liability) = Total debt (including operating lease liability) ÷ Shareholders’ equity attributable to Procter & Gamble
= ÷ =

Solvency ratio Description The company
Debt to equity ratio (including operating lease liability) A solvency ratio calculated as total debt (including operating lease liability) divided by total shareholders’ equity. Procter & Gamble Co. debt to equity ratio (including operating lease liability) deteriorated from 2022 to 2023 but then improved from 2023 to 2024 exceeding 2022 level.

Debt to Capital

Procter & Gamble Co., debt to capital calculation, comparison to benchmarks

Microsoft Excel
Jun 30, 2024 Jun 30, 2023 Jun 30, 2022 Jun 30, 2021 Jun 30, 2020 Jun 30, 2019
Selected Financial Data (US$ in millions)
Debt due within one year
Long-term debt, excluding due within one year
Total debt
Shareholders’ equity attributable to Procter & Gamble
Total capital
Solvency Ratio
Debt to capital1
Benchmarks
Debt to Capital, Industry
Consumer Staples

Based on: 10-K (reporting date: 2024-06-30), 10-K (reporting date: 2023-06-30), 10-K (reporting date: 2022-06-30), 10-K (reporting date: 2021-06-30), 10-K (reporting date: 2020-06-30), 10-K (reporting date: 2019-06-30).

1 2024 Calculation
Debt to capital = Total debt ÷ Total capital
= ÷ =

Solvency ratio Description The company
Debt to capital ratio A solvency ratio calculated as total debt divided by total debt plus shareholders’ equity. Procter & Gamble Co. debt to capital ratio deteriorated from 2022 to 2023 but then improved from 2023 to 2024 exceeding 2022 level.

Debt to Capital (including Operating Lease Liability)

Procter & Gamble Co., debt to capital (including operating lease liability) calculation, comparison to benchmarks

Microsoft Excel
Jun 30, 2024 Jun 30, 2023 Jun 30, 2022 Jun 30, 2021 Jun 30, 2020 Jun 30, 2019
Selected Financial Data (US$ in millions)
Debt due within one year
Long-term debt, excluding due within one year
Total debt
Current operating lease liabilities
Noncurrent operating lease liabilities
Total debt (including operating lease liability)
Shareholders’ equity attributable to Procter & Gamble
Total capital (including operating lease liability)
Solvency Ratio
Debt to capital (including operating lease liability)1
Benchmarks
Debt to Capital (including Operating Lease Liability), Industry
Consumer Staples

Based on: 10-K (reporting date: 2024-06-30), 10-K (reporting date: 2023-06-30), 10-K (reporting date: 2022-06-30), 10-K (reporting date: 2021-06-30), 10-K (reporting date: 2020-06-30), 10-K (reporting date: 2019-06-30).

1 2024 Calculation
Debt to capital (including operating lease liability) = Total debt (including operating lease liability) ÷ Total capital (including operating lease liability)
= ÷ =

Solvency ratio Description The company
Debt to capital ratio (including operating lease liability) A solvency ratio calculated as total debt (including operating lease liability) divided by total debt (including operating lease liability) plus shareholders’ equity. Procter & Gamble Co. debt to capital ratio (including operating lease liability) deteriorated from 2022 to 2023 but then improved from 2023 to 2024 exceeding 2022 level.

Debt to Assets

Procter & Gamble Co., debt to assets calculation, comparison to benchmarks

Microsoft Excel
Jun 30, 2024 Jun 30, 2023 Jun 30, 2022 Jun 30, 2021 Jun 30, 2020 Jun 30, 2019
Selected Financial Data (US$ in millions)
Debt due within one year
Long-term debt, excluding due within one year
Total debt
 
Total assets
Solvency Ratio
Debt to assets1
Benchmarks
Debt to Assets, Industry
Consumer Staples

Based on: 10-K (reporting date: 2024-06-30), 10-K (reporting date: 2023-06-30), 10-K (reporting date: 2022-06-30), 10-K (reporting date: 2021-06-30), 10-K (reporting date: 2020-06-30), 10-K (reporting date: 2019-06-30).

1 2024 Calculation
Debt to assets = Total debt ÷ Total assets
= ÷ =

Solvency ratio Description The company
Debt to assets ratio A solvency ratio calculated as total debt divided by total assets. Procter & Gamble Co. debt to assets ratio deteriorated from 2022 to 2023 but then improved from 2023 to 2024 exceeding 2022 level.

Debt to Assets (including Operating Lease Liability)

Procter & Gamble Co., debt to assets (including operating lease liability) calculation, comparison to benchmarks

Microsoft Excel
Jun 30, 2024 Jun 30, 2023 Jun 30, 2022 Jun 30, 2021 Jun 30, 2020 Jun 30, 2019
Selected Financial Data (US$ in millions)
Debt due within one year
Long-term debt, excluding due within one year
Total debt
Current operating lease liabilities
Noncurrent operating lease liabilities
Total debt (including operating lease liability)
 
Total assets
Solvency Ratio
Debt to assets (including operating lease liability)1
Benchmarks
Debt to Assets (including Operating Lease Liability), Industry
Consumer Staples

Based on: 10-K (reporting date: 2024-06-30), 10-K (reporting date: 2023-06-30), 10-K (reporting date: 2022-06-30), 10-K (reporting date: 2021-06-30), 10-K (reporting date: 2020-06-30), 10-K (reporting date: 2019-06-30).

1 2024 Calculation
Debt to assets (including operating lease liability) = Total debt (including operating lease liability) ÷ Total assets
= ÷ =

Solvency ratio Description The company
Debt to assets ratio (including operating lease liability) A solvency ratio calculated as total debt (including operating lease liability) divided by total assets. Procter & Gamble Co. debt to assets ratio (including operating lease liability) deteriorated from 2022 to 2023 but then improved from 2023 to 2024 exceeding 2022 level.

Financial Leverage

Procter & Gamble Co., financial leverage calculation, comparison to benchmarks

Microsoft Excel
Jun 30, 2024 Jun 30, 2023 Jun 30, 2022 Jun 30, 2021 Jun 30, 2020 Jun 30, 2019
Selected Financial Data (US$ in millions)
Total assets
Shareholders’ equity attributable to Procter & Gamble
Solvency Ratio
Financial leverage1
Benchmarks
Financial Leverage, Industry
Consumer Staples

Based on: 10-K (reporting date: 2024-06-30), 10-K (reporting date: 2023-06-30), 10-K (reporting date: 2022-06-30), 10-K (reporting date: 2021-06-30), 10-K (reporting date: 2020-06-30), 10-K (reporting date: 2019-06-30).

1 2024 Calculation
Financial leverage = Total assets ÷ Shareholders’ equity attributable to Procter & Gamble
= ÷ =

Solvency ratio Description The company
Financial leverage ratio A solvency ratio calculated as total assets divided by total shareholders’ equity. Procter & Gamble Co. financial leverage ratio increased from 2022 to 2023 but then decreased significantly from 2023 to 2024.

Interest Coverage

Procter & Gamble Co., interest coverage calculation, comparison to benchmarks

Microsoft Excel
Jun 30, 2024 Jun 30, 2023 Jun 30, 2022 Jun 30, 2021 Jun 30, 2020 Jun 30, 2019
Selected Financial Data (US$ in millions)
Net earnings attributable to Procter & Gamble (P&G)
Add: Net income attributable to noncontrolling interest
Add: Income tax expense
Add: Interest expense
Earnings before interest and tax (EBIT)
Solvency Ratio
Interest coverage1
Benchmarks
Interest Coverage, Industry
Consumer Staples

Based on: 10-K (reporting date: 2024-06-30), 10-K (reporting date: 2023-06-30), 10-K (reporting date: 2022-06-30), 10-K (reporting date: 2021-06-30), 10-K (reporting date: 2020-06-30), 10-K (reporting date: 2019-06-30).

1 2024 Calculation
Interest coverage = EBIT ÷ Interest expense
= ÷ =

Solvency ratio Description The company
Interest coverage ratio A solvency ratio calculated as EBIT divided by interest payments. Procter & Gamble Co. interest coverage ratio deteriorated from 2022 to 2023 and from 2023 to 2024.

Fixed Charge Coverage

Procter & Gamble Co., fixed charge coverage calculation, comparison to benchmarks

Microsoft Excel
Jun 30, 2024 Jun 30, 2023 Jun 30, 2022 Jun 30, 2021 Jun 30, 2020 Jun 30, 2019
U.S. federal statutory income tax rate
Selected Financial Data (US$ in millions)
Net earnings attributable to Procter & Gamble (P&G)
Add: Net income attributable to noncontrolling interest
Add: Income tax expense
Add: Interest expense
Earnings before interest and tax (EBIT)
Add: Operating lease cost
Earnings before fixed charges and tax
 
Interest expense
Operating lease cost
Preferred dividends
Preferred dividends, tax adjustment1
Preferred dividends, after tax adjustment
Fixed charges
Solvency Ratio
Fixed charge coverage2
Benchmarks
Fixed Charge Coverage, Industry
Consumer Staples

Based on: 10-K (reporting date: 2024-06-30), 10-K (reporting date: 2023-06-30), 10-K (reporting date: 2022-06-30), 10-K (reporting date: 2021-06-30), 10-K (reporting date: 2020-06-30), 10-K (reporting date: 2019-06-30).

1 2024 Calculation
Preferred dividends, tax adjustment = (Preferred dividends × U.S. federal statutory income tax rate) ÷ (1 − U.S. federal statutory income tax rate)
= ( × ) ÷ (1 − ) =

2 2024 Calculation
Fixed charge coverage = Earnings before fixed charges and tax ÷ Fixed charges
= ÷ =

Solvency ratio Description The company
Fixed charge coverage ratio A solvency ratio calculated as earnings before fixed charges and tax divided by fixed charges. Procter & Gamble Co. fixed charge coverage ratio deteriorated from 2022 to 2023 and from 2023 to 2024.