Procter & Gamble (PG) FY2026: Net Sales $87.0B +3%, Operating Margin -160bp, Core EPS $6.89; Thorne $3.8B
Overview
Procter & Gamble, the world's largest consumer goods company, filed its fiscal year 2026 (July 2025–June 2026) 10-K with the SEC on August 4. In summary: revenue grew while margins compressed. Net sales reached $87.03 billion, up 3%, while operating income fell $703 million (-3%) to $19.75 billion, and operating margin contracted 160 basis points to 22.7%. Net earnings were $16.14 billion, up $79 million year over year—essentially flat—with diluted EPS of $6.62 (+2%) and the company-highlighted Core EPS of $6.89 (+1%) (10-K Summary of 2026 Results).
