The Procter & Gamble Company (PG) Cash Flow: Operating & Free Cash Flow

The Procter & Gamble Company (PG) Cash Flow Statement

In fiscal 2026 (fiscal year ended Jun 30, 2026), The Procter & Gamble Company generated $20.32B of operating cash flow and spent $4.41B on capital expenditures. That left free cash flow of $15.91B, up 13.3% from $14.04B a year earlier, or 18.3% of revenue. It returned $15.26B to shareholders through $10.23B in dividends and $5.03B in share buybacks.

The Procter & Gamble Company Cash Flow Statement Analysis

Values in billions USD

Income Statement Balance Sheet Cash Flow Ratios

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Cash flow statement showing operating, investing, and financing activities for The Procter & Gamble Company (PG) - Annual data in billions USD
Breakdown	FY 2026	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019	FY 2018	FY 2017
Period ending	Jun 2026	Jun 2025	Jun 2024	Jun 2023	Jun 2022	Jun 2021	Jun 2020	Jun 2019	Jun 2018	Jun 2017
Operating Activities
Net Income	16.14	16.07	14.88	14.74	14.79	14.35	13.10	3.97	9.86	15.33
Depreciation & Amortization	3.16	2.85	2.90	2.71	2.81	2.74	3.01	2.82	2.83	2.82
Deferred Income Tax	0.05	0.15	-0.24	-0.45	-0.40	-0.26	-0.60	-0.41	-1.84	-0.60
Stock Based Compensation	0.52	0.48	0.56	0.55	0.53	0.54	0.56	0.52	0.40	0.37
Change in Working Capital	0.00	-0.82	0.04	-1.22	-1.15	0.37	1.21	0.37	3.02	-0.44
Change in Accounts Receivable	0.08	0.05	-0.77	-0.31	-0.69	-0.34	0.63	-0.28	-0.18	-0.32
Change in Inventory	-0.64	-0.32	-0.07	-0.12	-1.25	-0.31	-0.64	-0.24	-0.19	0.07
Change in Accounts Payable	0.92	-0.54	0.88	0.31	1.43	1.39	1.92	1.86	1.39	-0.15
Change in Other Working Capital	-0.36	-1.65	0.49	-1.11	0.23	-0.23	-0.71	-0.97	2.00	-0.04
Other Operating Activities	0.44	-1.65	0.49	0.52	0.23	0.24	0.12	7.98	0.60	-4.72
Net Cash from Operating Activities	20.32	17.82	19.85	16.85	16.72	18.37	17.40	15.24	14.87	12.75
Investing Activities
Capital Expenditures	-4.41	-3.77	-3.32	-3.06	-3.16	-2.79	-3.07	-3.35	-3.72	-3.38
Acquisitions	-0.08	-0.01	-0.02	-0.77	-1.38	-0.03	-0.06	-3.95	-0.11	-0.49
Purchases of Investments	0.00	0.00	0.00	0.00	0.00	-0.06	0.00	-0.22	-3.91	-4.87
Sales/Maturities of Investments	0.00	0.00	0.00	0.00	0.00	0.00	6.15	3.63	3.96	1.49
Other Investing Activities	-0.14	-0.03	-0.16	0.33	0.00	-0.06	0.03	0.39	0.27	0.57
Net Cash from Investing Activities	-4.62	-3.82	-3.50	-3.50	-4.42	-2.83	3.05	-3.49	-3.51	-6.69
Financing Activities
Debt Repayment	2.75	-9.63	-10.02	2.94	-13.82	-4.99	4.85	-0.82	-1.24	1.40
Common Stock Issued	0.80	1.71	0.00	0.00	2.01	1.64	0.00	0.00	0.00	0.00
Common Stock Repurchased	-5.03	-6.50	-5.01	-7.35	-10.00	-11.01	-7.41	-5.00	-7.00	-5.20
Dividends Paid	-10.23	-9.87	-9.31	-9.00	-8.77	-8.26	-7.79	-7.50	-7.31	-7.24
Other Financing Activities	-3.49	0.00	1.91	1.27	0.92	-3.43	1.98	3.32	1.18	2.47
Net Cash from Financing Activities	-15.20	-14.04	-14.86	-12.15	-14.88	-21.53	-8.37	-9.99	-14.38	-8.57
Summary
Effect of Forex Changes on Cash	-0.09	0.11	-0.25	-0.17	-0.50	0.10	-0.14	-0.09	0.02	-0.03
Net Change in Cash	0.41	0.08	1.24	1.03	-3.07	-5.89	11.94	1.67	-3.00	-1.53
Cash at Beginning of Period	9.56	9.48	8.25	7.21	10.29	16.18	4.24	2.57	5.57	7.10
Cash at End of Period	9.97	9.56	9.48	8.25	7.21	10.29	16.18	4.24	2.57	5.57
Free Cash Flow	15.91	14.04	16.52	13.79	13.57	15.58	14.33	11.90	11.15	9.37
Supplemental Disclosures
Interest Paid	-	0.90	0.88	0.72	0.45	0.53	-	-	-	-
Income Taxes Paid	-	4.55	4.36	4.28	3.82	3.82	-	-	-	-

Source: Company financial statements from annual and quarterly filings. Data as of Sep 30, 2026. Data sources and methodology

Frequently Asked Questions About The Procter & Gamble Company Cash Flow

What is The Procter & Gamble Company's free cash flow?

The Procter & Gamble Company generated free cash flow of $15.91B in fiscal 2026 (fiscal year ended Jun 30, 2026), operating cash flow of $20.32B minus $4.41B of capital expenditures. That was up 13.3% from $14.04B a year earlier. Free cash flow equaled 18.3% of revenue.

How much does The Procter & Gamble Company spend on capital expenditures?

The Procter & Gamble Company spent $4.41B on capital expenditures in fiscal 2026, compared with $3.77B a year earlier. That equals 21.7% of operating cash flow.

Does The Procter & Gamble Company pay dividends or buy back shares?

Yes. In fiscal 2026 The Procter & Gamble Company returned $10.23B in dividends and $5.03B in share buybacks to shareholders, according to its cash flow statement.

What is free cash flow?

Free cash flow is operating cash flow minus capital expenditures. It is the cash a company has left for dividends, buybacks, debt repayment or acquisitions after funding its operations and investment. Full definition