Stock Analysis on Net
Stock Analysis on Net

Procter & Gamble Co. (NYSE:PG)

Analysis of Long-term (Investment) Activity Ratios

Microsoft Excel

Activity ratios measure how efficiently a company performs day-to-day tasks, such us the collection of receivables and management of inventory.

Long-term Activity Ratios (Summary)

Procter & Gamble Co., long-term (investment) activity ratios

Microsoft Excel
Jun 30, 2024 Jun 30, 2023 Jun 30, 2022 Jun 30, 2021 Jun 30, 2020 Jun 30, 2019
Net fixed asset turnover 3.79 3.74 3.78 3.51 3.43 3.18
Net fixed asset turnover (including operating lease, right-of-use asset) 3.65 3.61 3.65 3.38 3.29 3.18
Total asset turnover 0.69 0.68 0.68 0.64 0.59 0.59
Equity turnover 1.67 1.75 1.72 1.64 1.53 1.43

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).

Long-term activity ratio Description The company
Net fixed asset turnover An activity ratio calculated as total revenue divided by net fixed assets. Procter & Gamble Co. net fixed asset turnover ratio deteriorated from 2022 to 2023 but then improved from 2023 to 2024 exceeding 2022 level.
Net fixed asset turnover (including operating lease, right-of-use asset) An activity ratio calculated as total revenue divided by net fixed assets (including operating lease, right-of-use asset). Procter & Gamble Co. net fixed asset turnover ratio (with operating lease, right-of-use asset) deteriorated from 2022 to 2023 but then improved from 2023 to 2024 not reaching 2022 level.
Total asset turnover An activity ratio calculated as total revenue divided by total assets. Procter & Gamble Co. total asset turnover ratio deteriorated from 2022 to 2023 but then improved from 2023 to 2024 exceeding 2022 level.
Equity turnover An activity ratio calculated as total revenue divided by shareholders’ equity. Procter & Gamble Co. equity turnover ratio improved from 2022 to 2023 but then deteriorated significantly from 2023 to 2024.

Net Fixed Asset Turnover

Procter & Gamble Co., net fixed asset turnover 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 sales 84,039 82,006 80,187 76,118 70,950 67,684
Property, plant and equipment, net 22,152 21,909 21,195 21,686 20,692 21,271
Long-term Activity Ratio
Net fixed asset turnover1 3.79 3.74 3.78 3.51 3.43 3.18
Benchmarks
Net Fixed Asset Turnover, Industry
Consumer Staples — 5.33 5.40 5.28 4.57 4.46

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
Net fixed asset turnover = Net sales ÷ Property, plant and equipment, net
= 84,039 ÷ 22,152 = 3.79

Long-term activity ratio Description The company
Net fixed asset turnover An activity ratio calculated as total revenue divided by net fixed assets. Procter & Gamble Co. net fixed asset turnover ratio deteriorated from 2022 to 2023 but then improved from 2023 to 2024 exceeding 2022 level.

Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset)

Procter & Gamble Co., net fixed asset turnover (including operating lease, right-of-use asset) 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 sales 84,039 82,006 80,187 76,118 70,950 67,684
 
Property, plant and equipment, net 22,152 21,909 21,195 21,686 20,692 21,271
Operating lease right-of-use assets (included in Other noncurrent assets) 875 781 760 808 850 —
Property, plant and equipment, net (including operating lease, right-of-use asset) 23,027 22,690 21,955 22,494 21,542 21,271
Long-term Activity Ratio
Net fixed asset turnover (including operating lease, right-of-use asset)1 3.65 3.61 3.65 3.38 3.29 3.18
Benchmarks
Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset), Industry
Consumer Staples — 4.64 4.68 4.57 3.93 4.35

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
Net fixed asset turnover (including operating lease, right-of-use asset) = Net sales ÷ Property, plant and equipment, net (including operating lease, right-of-use asset)
= 84,039 ÷ 23,027 = 3.65

Long-term activity ratio Description The company
Net fixed asset turnover (including operating lease, right-of-use asset) An activity ratio calculated as total revenue divided by net fixed assets (including operating lease, right-of-use asset). Procter & Gamble Co. net fixed asset turnover ratio (with operating lease, right-of-use asset) deteriorated from 2022 to 2023 but then improved from 2023 to 2024 not reaching 2022 level.

Total Asset Turnover

Procter & Gamble Co., total asset turnover 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 sales 84,039 82,006 80,187 76,118 70,950 67,684
Total assets 122,370 120,829 117,208 119,307 120,700 115,095
Long-term Activity Ratio
Total asset turnover1 0.69 0.68 0.68 0.64 0.59 0.59
Benchmarks
Total Asset Turnover, Industry
Consumer Staples — 1.55 1.51 1.45 1.35 1.43

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
Total asset turnover = Net sales ÷ Total assets
= 84,039 ÷ 122,370 = 0.69

Long-term activity ratio Description The company
Total asset turnover An activity ratio calculated as total revenue divided by total assets. Procter & Gamble Co. total asset turnover ratio deteriorated from 2022 to 2023 but then improved from 2023 to 2024 exceeding 2022 level.

Equity Turnover

Procter & Gamble Co., equity turnover 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 sales 84,039 82,006 80,187 76,118 70,950 67,684
Shareholders’ equity attributable to Procter & Gamble 50,287 46,777 46,589 46,378 46,521 47,194
Long-term Activity Ratio
Equity turnover1 1.67 1.75 1.72 1.64 1.53 1.43
Benchmarks
Equity Turnover, Industry
Consumer Staples — 6.50 6.04 5.82 5.62 5.45

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
Equity turnover = Net sales ÷ Shareholders’ equity attributable to Procter & Gamble
= 84,039 ÷ 50,287 = 1.67

Long-term activity ratio Description The company
Equity turnover An activity ratio calculated as total revenue divided by shareholders’ equity. Procter & Gamble Co. equity turnover ratio improved from 2022 to 2023 but then deteriorated significantly from 2023 to 2024.