PG · NYSE · Soap, Detergents, Cleang Preparations, Perfumes, Cosmetics
$158.90 · $384.9B market value · fiscal year to 30 Jun 2026
Live from the latest filings
8 of 10
Buffett tests pass
Margin of safety -63%
Bear
$52.73
Base
$97.31
Bull
$160.17
Price $158.90
8 pass · 1 mixed · 1 fail · 0 can't tell
At $158.90, the price is above the base-case value of $97.31 (the bear case is $52.73), so there is no margin of safety (-63%). The standard lens asks for 25%.
Why this testThe owner-earnings yield is 4.0% against a 10-year Treasury yield of 5.2%.
Why this testNo loss years across 15 years of filings, with operating margin varying by 4.6% around its average.
Why this testReturn on equity averaged 27%, reaching 15% in 9 of the years measured; the weakest year was 7.8%.
Why this testAfter-tax return on invested capital averaged 17% over 10 years and was 20% in the latest year.
Why this testTotal debt of $34.1B would take 2.2 yrs of normalised owner earnings to repay; operating income covers interest 23×. Both tests pass: payback within 4 years and interest cover of 8x or more.
Why this testNormalised owner earnings are $15.5B, and free cash flow has averaged 118% of reported profit.
Why this testCapital spending has averaged 1.2× depreciation; estimated maintenance capex was $3.4B last year.
Why this testEach dollar retained over the period has been matched by 3.7× of market value created ($39.2B retained in total).
Why this testThe diluted share count has changed by -1.4% a year. Shrinking means buybacks are returning value; growing means owners are being diluted.
Why this testDiscounted owner earnings
Bear
$52.73
Base
$97.31
Bull
$160.17
Price $158.90
| Scenario | Starting owner earnings | Growth (yrs 1–5) | Terminal | Discount | Value / share |
|---|---|---|---|---|---|
| bear | $15.5B | -2.9% | 1.5% | 9.7% | $52.73 |
| base | $15.5B | 1.1% | 2.5% | 8.2% | $97.31 |
| bull | $15.5B | 4.1% | 3.0% | 7.2% | $160.17 |
How sensitive is that?
| Discount ↓ / Growth → | -2.9% | -0.9% | 1.1% | 3.1% | 5.1% |
|---|---|---|---|---|---|
| 6.2% | $119 | $136 | $155 | $177 |
Fiscal year to 30 Jun 2026
Replicly is a research and education tool. It is not financial advice and does not recommend that you buy or sell any investment. Analyses apply Buffett-inspired principles to public data and can be wrong. Warren Buffett and Berkshire Hathaway are not affiliated with and do not endorse Replicly. Capital is at risk.
| $201 |
| 7.1% | $92 | $105 | $120 | $137 | $155 |
|---|
| 8.2% | $75 | $85 | $97 | $111 | $125 |
|---|
| 9.2% | $63 | $72 | $81 | $92 | $105 |
|---|
| 10.2% | $54 | $61 | $70 | $79 | $89 |
|---|
Green: at least 25% above the price. Amber: above it. Red: below it. n/a means the discount rate is at or below growth, where the model has no finite answer. The corners combine the most extreme assumptions, so treat them as bounds.
Discount rate: 10-year Treasury (5.2%) plus a 3% equity hurdle. Price $158.90 on 20 Oct 2026. End-of-day prices from free public sources, may be delayed or missing.
Revenue
$87.0B
Revenue growth (CAGR)
3.3%
Operating margin (avg)
21%
Return on equity (avg)
27%
ROIC (avg)
17%
Normalised owner earnings
$15.5B
Cash conversion
118%
Net debt
$24.2B
Debt payback
2.2 yrs
Share count change (CAGR)
-1.4%
Price / earnings
24×
Owner earnings yield
4.0%