PROCTER & GAMBLE Co (PG)

The Procter & Gamble Company is a multinational consumer goods company that provides branded products of superior quality, performance and value to consumers around the world. Its products are sold in about 180 countries and territories. The company traces its origins to a business founded in Cincinnati in 1837 by William Procter and James Gamble, was first established as a New Jersey corporation in 1890, and was incorporated in Ohio in 1905. It creates, manufactures, markets and distributes a diversified portfolio of daily-use products, aiming to outperform on product performance, packaging, brand communication, retail execution and value.

The text refers to reportable segments and key product categories but does not name them, pointing instead to the MD&A and Note 2 of the financial statements. The business model relies on research and development and consumer insights to create new categories and improve existing products. It also relies on advertising, promotions and endorsements to build brand awareness and loyalty, and on productivity improvements to fund these investments. The company also develops and licenses technologies that can be used across industries to improve environmental sustainability, and it has announced a 2040 net zero ambition.

Customers include mass merchandisers, digital and social commerce channels, grocery stores, membership club stores, drug stores, department stores, distributors, wholesalers, specialty beauty stores (including airport duty-free), high-frequency stores, pharmacies, electronics stores and professional channels. P&G also sells directly to consumers. Walmart Inc. and its affiliates account for about 16% of total sales in 2026, 2025 and 2024, and no other customer exceeds 10%. The top ten customers represented about 43% of net sales in 2026 and 2025 and 42% in 2024.

Almost all raw and packaging materials are bought from third parties, some of them single-source suppliers. The company makes certain raw materials itself, primarily chemicals. Fuel, natural gas and their derivatives are important inputs, and material prices can fluctuate, including from new or increased tariffs. P&G owns or has rights to patents and trademarks that protect product formulations, manufacturing processes and branding. It competes against large and small, established and new companies, including global competitors and retailers' private-label brands, and often holds a leadership or significant market share position. It is subject to regulation by agencies such as the FDA, EPA, OSHA, FTC and CPSC, as well as anti-corruption, antitrust, privacy and environmental laws worldwide. The company operates in approximately 65 countries and had about 104,000 employees as of June 30, 2026, about 49% of them in manufacturing roles.