The Procter & Gamble (PG) 10-K Summary — Year Ended Jun 30, 2023
The filing describes the company's business, risk factors, and financial condition for the most recent annual period. Reported revenue and operating income both increased compared to the prior year, while operating cash flow remained substantial.
Key takeaway
Year ended Jun 30, 2023 · FY2025 10-K
The filing describes the company's business, risk factors, and financial condition for the most recent annual period. Reported revenue and operating income both increased compared to the prior year, while operating cash flow remained substantial.
Financial snapshot
Selected annual figures reported with the filing, shown separately from the narrative summary.
Annual revenue
$82B
Revenue reported for the fiscal year.
Operating income
$18.1B
Income from operations reported for the year.
Net income
$14.7B
Net income reported for the year.
Operating cash flow
$16.8B
Cash generated by operating activities.
Annual revenue trend
Reported annual revenue and its change from the preceding fiscal year.
| Period ended | Revenue | Year-over-year change |
|---|---|---|
| Jun 30, 2021 | $76.1B | n/a |
| Jun 30, 2022 | $80.2B | +5.3% |
| Jun 30, 2023 | $82B | +2.3% |
Business overview
The company manufactures, sells, and distributes consumer products across multiple markets globally. Its operations are subject to changing political and geopolitical conditions, which may affect manufacturing, sales, and distribution activities.
Financial performance
Revenue for the period increased compared to the prior year, and operating income also rose. Net income and operating cash flow were both reported at levels consistent with the company's scale.
Material risks
The company faces risks from disruptions to top-tier banking partners, which could affect credit access and cash flows. Changing political and geopolitical conditions, including sanctions, tariffs, and trade barriers, may adversely impact results and cash flows. Exchange rate fluctuations and market contraction are also identified as potential adverse factors.
Liquidity and capital
The company relies on top-tier banking partners for credit and to facilitate collection, payment, and supply chain finance programs. A disruption to these partners could impact the ability to draw on existing credit facilities or otherwise affect cash flows.
What to watch
Monitor any changes in political or geopolitical conditions in key markets that could alter tariffs, trade barriers, or sanctions affecting the company's operations.