What is PG's intrinsic value?

TickerWorth's valuation lenses put The Procter & Gamble Company (PG) between $48.00 and $212.53 per share, versus a market price of $158.10. They disagree too widely for us to state a single fair value, so we publish the range.

Is PG overvalued or undervalued?

At $158.10 the price sits inside a range too wide to call either way. We don't call PG overvalued or undervalued from a range this wide. This is an educational estimate, not advice.

What discount rate is used for PG?

A WACC of 7.0% and a terminal growth rate of 2.5%.

Is The Procter & Gamble stock undervalued?

TickerWorth's fair-value range for The Procter & Gamble Company (PG) is $48.00 – $212.53 against a market price of $158.10. Too wide to call. We publish a range here, not one number, so we do not call it over- or undervalued. This is a model estimate, not investment advice.

The Procter & Gamble (PG) DCF valuation and fair value

Our fair-value range for The Procter & Gamble Company (PG) is $48.00 – $212.53, built on a 7.0% discount rate (WACC) and 2.5% terminal growth. It blends our discounted-cash-flow model with other valuation lenses. Every assumption is listed on this page with its source.

What growth is priced into The Procter & Gamble stock?

Today's price implies revenue growth of 3.5% a year for 5 years; our model assumes 2.6% a year on average over the same horizon. This is a reverse DCF: it holds our cash-flow model's other inputs and solves for the revenue growth that makes the model equal today's price of $158.10. A model estimate, not investment advice.

The Procter & Gamble (PG) insider trading

We have no recent SEC Form 4 insider filings on file for The Procter & Gamble Company (PG). Form 4 covers US-listed companies only.

PG · Intrinsic value

Is The Procter & Gamble Company (PG) overvalued or undervalued?

Name: The Procter & Gamble Company (PG) DCF intrinsic value
Creator: TickerWorth

As of Oct 19, 2026, TickerWorth's valuation lenses put The Procter & Gamble Company (PG) at $48.00 – $212.53, too broad a range to say where the delayed market price of $158.10 sits in it, so we do not call it over- or undervalued. It is a model estimate, and every input behind it is sourced below.

Model by Miraaj Patel · generated from a hand-researched model · Updated Oct 19, 2026 · How these pages are made

Open full PG analysis

What is PG worth?

Fair-value range: $48.00 – $212.53
Market price: $158.10
Gap to fair value: —
Verdict: Too wide to call

Price as of 19 Oct 2026, 13:55 UTC · Prices are delayed.Our valuation lenses disagree too widely on this company for us to publish a single number, so we publish the range instead. We do not call it over- or undervalued from a spread this wide.

Fair-value range against the delayed market price: Too wide to call.

Reverse DCF: Today's price implies revenue growth of 3.5% a year for 5 years; our model assumes 2.6% a year on average over the same horizon.

What is PG's TickerWorth Score?

C48/100

Middle of the pack — real strengths and real weaknesses

Compared with Consumer Defensive companies in US

Its strongest point: a profitable, high-quality business. Its weakest: looks expensive on the numbers.

Value · 32 of 100
Cheaper than 32% of Consumer Defensive companies in US
Price vs worth · 37 of 100
Quality · 76 of 100
More profitable than 76% of Consumer Defensive companies in US
Financial health · 63 of 100
Financially stronger than 63% of Consumer Defensive companies in US
Growth · 31 of 100
Growing faster than 31% of Consumer Defensive companies in US
Momentum · 56 of 100
Outperformed 56% of Consumer Defensive companies in US over the past year

Confidence: Medium confidence · Scored 19 Oct 2026, 13:55 UTC

Get the Undervalued Company of the Week.

Where the numbers come from

Hand-researched model

What the modeller flagged

TERMINAL VALUE IS ~81% OF ENTERPRISE VALUE — above the 75% line. A low-growth, low-beta business discounted at 7.03% puts most of its value in the steady state, so the precision of the per-share figure should not be taken seriously; the sensitivity range is the honest output.
BETA NORMALIZED UP from the published 0.377 to 0.41 (own 10-year regression, the method used for KO and PEP). This lowers the value by ~$5/share versus the published figure ($143.27). It is still a big lever: each 0.1 of beta is worth ~$15/share. Cost of debt is the ~5.6% marginal rate for an AA- issuer, not the 3.3% average.
YEAR 1 IS BACKED OUT OF AN EPS GUIDE, NOT A MARGIN GUIDE. P&G does not guide operating margin; the 23.3% GAAP figure rests on assumed share count, non-operating income and restructuring splits. Q1 FY2027 is guided down 5% or more on EPS because the input-cost spike lands mostly in the first half.
TAX AT THE GUIDED ~20% CORE RATE, not the 20.8% realised in FY2026 — mildly generous; 21% would take ~$1.80/share off ($136.32).
THORNE ($3.8B) IS NOT IN THE MODEL in either direction (see special_cases). Adding only its debt would take ~$1.57/share off.
SBC ($524M in FY2026, 0.6% of sales) is expensed inside GAAP operating income and not added back; dilution is carried by the diluted share count, which buybacks are shrinking ~1.3% a year.

Why PG gets a range, not one number

At a recent price of $158.10, The Procter & Gamble Company (PG) sits inside a range too wide to call either way: our valuation lenses put the business somewhere between $48.00 and $212.53 per share. They disagree too widely for us to state a single fair value. We publish the range rather than a midpoint because a number that precise would claim more than the methods can support. This is an educational model, not a price target or a recommendation.

Read the full reasoning

The valuation discounts The Procter & Gamble Company's projected free cash flows at a weighted-average cost of capital (WACC) of 7.0%, with a long-run terminal growth rate of 2.5%. About 81% of the enterprise value comes from the terminal value — the portion beyond the explicit forecast window — which is typical for a stable, cash-generative business and a reminder that small changes in the discount rate or terminal growth assumption swing the intrinsic value meaningfully.

Running the DCF in reverse — solving for the growth the current price already assumes — the market is implying roughly 3.5% annual revenue growth for PG. Our base case instead compounds to about 2.6% a year over the same forecast, so the market's implied growth is broadly in line with our base case. The reverse-DCF is a quick sanity check: it reframes 'is this stock cheap?' as 'do I believe the growth the price requires?' rather than arguing over a single point estimate of fair value.

Sensitivity matters more than any single number. Across a reasonable band of discount-rate assumptions, PG's modeled DCF value ranges from about $88.14 to $310.47 per share. If that range still sits below today's price, the market is optimistic relative to the model across the whole band; if it brackets the price, the stock is roughly fairly valued on our assumptions. Use the interactive slider to see exactly where your own cost-of-capital view lands.

How to read this page: the DCF fair value is what The Procter & Gamble Company would be worth if its cash flows grow as modeled and are discounted at the stated WACC. The assumptions table shows every input and its source; the reverse-DCF shows what the market believes; the sensitivity band shows how fragile the answer is. None of this is investment advice — it is a transparent, auditable framework for forming your own view of PG's intrinsic value. Figures update as new filings and prices come in.

Every input behind PG's DCF

Input	Value	Source
Base-year revenueP&G FY2026 10-K (accession 0000080424-26-000103, filed 2026-08-04), Consolidated Statements of Earnings: Net sales FY2026 (fiscal year ended 2026-06-30) $87,032M, +3.3% on FY2025's $84,284M. REPORTED vs ORGANIC: P&G's own bridge (Q4 release, 8-K Ex-99.1) splits the +3% into +2 points of FOREIGN EXCHANGE TAILWIND and +1 point of organic growth (all pricing; volume and mix flat); acquisitions and divestitures were ~0. This model is built on REPORTED dollars, because reported dollars are what get discounted; currency is handled by not forecasting any (see forecast.revenue_growth). FX has usually run the other way: it cost 5 points in FY2023, 2 in FY2024 and 1 in FY2025 (Q4 FY2026 slides, accession 0000080424-26-000097). CROSS-CHECK against the latest quarter: Q4 FY2026 (April-June) net sales $21,203M, +2% reported, organic 0% — the weakest quarter of the year (Q1-Q3 organic +2%, 0%, +3%). The pending $3.8B Thorne acquisition (signed 2026-08-04, ~$0.5B of revenue) is NOT in this base or the forecast — see special_cases.	$87,032,000,000	P&G FY2026 10-K (accession 0000080424-26-000103, filed 2026-08-04), Consolidated Statements of Earnings: Net sales FY2026 (fiscal year ended 2026-06-30) $87,032M, +3.3% on FY2025's $84,284M. REPORTED vs ORGANIC: P&G's own bridge (Q4 release, 8-K Ex-99.1) splits the +3% into +2 points of FOREIGN EXCHANGE TAILWIND and +1 point of organic growth (all pricing; volume and mix flat); acquisitions and divestitures were ~0. This model is built on REPORTED dollars, because reported dollars are what get discounted; currency is handled by not forecasting any (see forecast.revenue_growth). FX has usually run the other way: it cost 5 points in FY2023, 2 in FY2024 and 1 in FY2025 (Q4 FY2026 slides, accession 0000080424-26-000097). CROSS-CHECK against the latest quarter: Q4 FY2026 (April-June) net sales $21,203M, +2% reported, organic 0% — the weakest quarter of the year (Q1-Q3 organic +2%, 0%, +3%). The pending $3.8B Thorne acquisition (signed 2026-08-04, ~$0.5B of revenue) is NOT in this base or the forecast — see special_cases.
Base EBIT marginP&G Q4/FY2026 earnings release, 8-K Ex-99.1 (accession 0000080424-26-000093, filed 2026-07-29), Consolidated Earnings Information and Exhibit 1 reconciliation: GAAP operating income $19,748M / $87,032M = 22.69%. Core (non-GAAP) operating income $20,497M = 23.55%: the $749M gap is 'incremental' restructuring under the June-2025 portfolio and productivity plan (separation, asset write-downs, accelerated depreciation), recorded in cost of products sold ($436M) and SG&A ($313M). P&G's NORMAL restructuring of $250-500M a year stays INSIDE core, so core is not a flattering measure here. History: GAAP operating margin 22.2% (FY2022), 22.1% (FY2023), 22.1% (FY2024, after a $1.3B Gillette intangible impairment), 24.3% (FY2025; core 24.27%), 22.7% (FY2026). EBIT here EXCLUDES the $1,076M of other non-operating income (FY2026 includes a $343M pretax gain on the Glad joint-venture dissolution) and net interest. CROSS-CHECK: Q4 FY2026 GAAP operating margin 18.6%, core 19.5%, down 130bp year on year on core as marketing reinvestment (+410bp of sales) outran 300bp of SG&A productivity. This base figure is used only for the engine's peak-margin test; the valuation runs off the forecast margins.	22.7%	P&G Q4/FY2026 earnings release, 8-K Ex-99.1 (accession 0000080424-26-000093, filed 2026-07-29), Consolidated Earnings Information and Exhibit 1 reconciliation: GAAP operating income $19,748M / $87,032M = 22.69%. Core (non-GAAP) operating income $20,497M = 23.55%: the $749M gap is 'incremental' restructuring under the June-2025 portfolio and productivity plan (separation, asset write-downs, accelerated depreciation), recorded in cost of products sold ($436M) and SG&A ($313M). P&G's NORMAL restructuring of $250-500M a year stays INSIDE core, so core is not a flattering measure here. History: GAAP operating margin 22.2% (FY2022), 22.1% (FY2023), 22.1% (FY2024, after a $1.3B Gillette intangible impairment), 24.3% (FY2025; core 24.27%), 22.7% (FY2026). EBIT here EXCLUDES the $1,076M of other non-operating income (FY2026 includes a $343M pretax gain on the Glad joint-venture dissolution) and net interest. CROSS-CHECK: Q4 FY2026 GAAP operating margin 18.6%, core 19.5%, down 130bp year on year on core as marketing reinvestment (+410bp of sales) outran 300bp of SG&A productivity. This base figure is used only for the engine's peak-margin test; the valuation runs off the forecast margins.
Forecast revenue growthESTIMATEAssumption — TickerWorth's 5-year explicit forecast	2% → 2% → 3% → 3% → 3%	ESTIMATEAssumption — TickerWorth's 5-year explicit forecast
Risk-free rateUS 10Y Treasury constant maturity (FRED DGS10): 5.24% on 2026-10-01, the latest published observation. Shared by every model in this tracker.	5.2%	US 10Y Treasury constant maturity (FRED DGS10): 5.24% on 2026-10-01, the latest published observation. Shared by every model in this tracker.
BetaESTIMATEAssumption — Published 5Y-monthly beta (yfinance, read 2026-10-03) + own 10-year monthly regression vs S&P 500: NORMALIZED UP from the published 0.377 to 0.41 — the SAME METHOD this tracker used for Coca-Cola (0.342 to 0.47) and PepsiCo (0.361 to 0.48): replace the published 5-year figure with my own 10-year monthly regression against the S&P 500 (yfinance dividend-adjusted closes, 120 complete months, Oct-2016 to Sep-2026), because it spans more than one regime. For P&G that regression gives 0.413 (5-year 0.387, 3-year 0.348, 2-year weekly 0.249 — P&G's beta is steadier than KO's or PEP's, so the normalization is small). CHECK AGAINST THE COST OF DEBT: cost of equity = 5.24% + 0.41 x 5.0% = 7.29%, 169bp above the ~5.6% marginal pre-tax cost of new P&G debt — the same 169bp gap Coca-Cola's file carries (7.59% vs 5.9%) and close to PepsiCo's 174bp (7.64% vs 5.9%), so equity is not priced implausibly close to the bonds. At the published 0.377 the gap would be 152bp. CONSERVATIVE vs published (it lowers the value); the Blume-adjusted published beta would be 0.585, more conservative still. Each 0.1 of beta is worth roughly $15/share (0.51 gives $124.50; the published 0.377 gives $143.27), because P&G's WACC is low and its terminal value is large.	0.41	ESTIMATEAssumption — Published 5Y-monthly beta (yfinance, read 2026-10-03) + own 10-year monthly regression vs S&P 500: NORMALIZED UP from the published 0.377 to 0.41 — the SAME METHOD this tracker used for Coca-Cola (0.342 to 0.47) and PepsiCo (0.361 to 0.48): replace the published 5-year figure with my own 10-year monthly regression against the S&P 500 (yfinance dividend-adjusted closes, 120 complete months, Oct-2016 to Sep-2026), because it spans more than one regime. For P&G that regression gives 0.413 (5-year 0.387, 3-year 0.348, 2-year weekly 0.249 — P&G's beta is steadier than KO's or PEP's, so the normalization is small). CHECK AGAINST THE COST OF DEBT: cost of equity = 5.24% + 0.41 x 5.0% = 7.29%, 169bp above the ~5.6% marginal pre-tax cost of new P&G debt — the same 169bp gap Coca-Cola's file carries (7.59% vs 5.9%) and close to PepsiCo's 174bp (7.64% vs 5.9%), so equity is not priced implausibly close to the bonds. At the published 0.377 the gap would be 152bp. CONSERVATIVE vs published (it lowers the value); the Blume-adjusted published beta would be 0.585, more conservative still. Each 0.1 of beta is worth roughly $15/share (0.51 gives $124.50; the published 0.377 gives $143.27), because P&G's WACC is low and its terminal value is large.
Terminal growthESTIMATEAssumption — house default: House default 2.5% (roughly long-run nominal GDP), kept for comparability with every other company in this tracker. For P&G it is about right: global category growth is running ~2% (CFO, Q4 FY2026 call), P&G's stated aim is to grow at or above its categories, and the model is in dollars, where currency has more often subtracted than added. 2.0% takes ~$12.50/share off ($125.61); 3.0% adds ~$15.60 ($153.78). The price needs ~2.7% forever. Must remain < WACC of 7.03%.	2.5%	ESTIMATEAssumption — house default: House default 2.5% (roughly long-run nominal GDP), kept for comparability with every other company in this tracker. For P&G it is about right: global category growth is running ~2% (CFO, Q4 FY2026 call), P&G's stated aim is to grow at or above its categories, and the model is in dollars, where currency has more often subtracted than added. 2.0% takes ~$12.50/share off ($125.61); 3.0% adds ~$15.60 ($153.78). The price needs ~2.7% forever. Must remain < WACC of 7.03%.
Diluted sharesP&G Q4/FY2026 earnings release, 8-K Ex-99.1 (accession 0000080424-26-000093), Consolidated Earnings Information: Diluted weighted-average common shares, Q4 FY2026 (three months to 2026-06-30): 2,412.7M (FY2026 2,422.5M; Q4 FY2025 2,443.8M). This count TREATS THE ESOP'S CONVERTIBLE PREFERRED AS CONVERTED (Series A 18M + Series B 48.6M shares, 10-K Note 8, each convertible one-for-one), so the $756M of preferred in equity is not deducted separately — it is in the denominator. Basic common shares outstanding were 2,324.4M at 2026-07-31. The count is falling ~1.3% a year: P&G guides ~$5B of buybacks in FY2027 after $5.0B in FY2026.	2,413M	P&G Q4/FY2026 earnings release, 8-K Ex-99.1 (accession 0000080424-26-000093), Consolidated Earnings Information: Diluted weighted-average common shares, Q4 FY2026 (three months to 2026-06-30): 2,412.7M (FY2026 2,422.5M; Q4 FY2025 2,443.8M). This count TREATS THE ESOP'S CONVERTIBLE PREFERRED AS CONVERTED (Series A 18M + Series B 48.6M shares, 10-K Note 8, each convertible one-for-one), so the $756M of preferred in equity is not deducted separately — it is in the denominator. Basic common shares outstanding were 2,324.4M at 2026-07-31. The count is falling ~1.3% a year: P&G guides ~$5B of buybacks in FY2027 after $5.0B in FY2026.
Market priceDelayed quote · as of 2026-10-19 13:55 UTC	$158.10	Delayed quote · as of 2026-10-19 13:55 UTC

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What does The Procter & Gamble Company do?

What does it do?

The Procter & Gamble Company provides branded consumer packaged goods worldwide. It operates through five segments: Beauty; Grooming; Health Care; Fabric & Home Care; and Baby, Feminine & Family Care. It operates in the Household & Personal Products industry (Consumer Defensive sector), headquartered in United States. The company employs roughly 104,000 people.

How does it make money?

The business turns $87.0B in annual revenue into profit. Out of every $100 of sales, about $22 is left as operating profit (operating margin of 22.1%), after a 51% gross margin on the products/services it sells. After all costs, taxes and interest, 18.4% of revenue becomes bottom-line net profit.

Is it financially healthy?

Financially it looks stretched: carries modest debt (0.6× equity), may struggle to cover its short-term bills (0.7× current ratio), and is currently profitable.

PG insider trading

We have no recent SEC Form 4 insider filings on file for The Procter & Gamble Company. Form 4 covers US-listed companies only.

Common questions

What is PG's intrinsic value?
TickerWorth's valuation lenses put The Procter & Gamble Company (PG) between $48.00 and $212.53 per share, versus a market price of $158.10. They disagree too widely for us to state a single fair value, so we publish the range.
Is PG overvalued or undervalued?
At $158.10 the price sits inside a range too wide to call either way. We don't call PG overvalued or undervalued from a range this wide. This is an educational estimate, not advice.
What discount rate is used for PG?
A WACC of 7.0% and a terminal growth rate of 2.5%.
Is The Procter & Gamble stock undervalued?
TickerWorth's fair-value range for The Procter & Gamble Company (PG) is $48.00 – $212.53 against a market price of $158.10. Too wide to call. We publish a range here, not one number, so we do not call it over- or undervalued. This is a model estimate, not investment advice.
The Procter & Gamble (PG) DCF valuation and fair value
Our fair-value range for The Procter & Gamble Company (PG) is $48.00 – $212.53, built on a 7.0% discount rate (WACC) and 2.5% terminal growth. It blends our discounted-cash-flow model with other valuation lenses. Every assumption is listed on this page with its source.
What growth is priced into The Procter & Gamble stock?
Today's price implies revenue growth of 3.5% a year for 5 years; our model assumes 2.6% a year on average over the same horizon. This is a reverse DCF: it holds our cash-flow model's other inputs and solves for the revenue growth that makes the model equal today's price of $158.10. A model estimate, not investment advice.
The Procter & Gamble (PG) insider trading
We have no recent SEC Form 4 insider filings on file for The Procter & Gamble Company (PG). Form 4 covers US-listed companies only.