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Procter & Gamble Co Piotroski F-Score

: 7 (As of Today)
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Good Sign:

Piotroski F-Score is 7, indicates a very healthy situation.

The zones of discrimination were as such:

Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3

Procter & Gamble Co has an F-score of 7. It is a good or high score, which usually indicates a very healthy situation.

The historical rank and industry rank for Procter & Gamble Co's Piotroski F-Score or its related term are showing as below:

PG' s Piotroski F-Score Range Over the Past 10 Years
Min: 1   Med: 6   Max: 8
Current: 7

During the past 13 years, the highest Piotroski F-Score of Procter & Gamble Co was 8. The lowest was 1. And the median was 6.


Procter & Gamble Co Piotroski F-Score Historical Data

The historical data trend for Procter & Gamble Co's Piotroski F-Score can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

* Premium members only.

Procter & Gamble Co Annual Data
Trend Jun13 Jun14 Jun15 Jun16 Jun17 Jun18 Jun19 Jun20 Jun21 Jun22
Piotroski F-Score
Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 5.00 6.00 7.00 8.00 7.00

Procter & Gamble Co Quarterly Data
Sep17 Dec17 Mar18 Jun18 Sep18 Dec18 Mar19 Jun19 Sep19 Dec19 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22
Piotroski F-Score Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 8.00 6.00 5.00 6.00 7.00

Competitive Comparison

For the Household & Personal Products subindustry, Procter & Gamble Co's Piotroski F-Score, along with its competitors' market caps and Piotroski F-Score data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.

   

Procter & Gamble Co Piotroski F-Score Distribution

For the Consumer Packaged Goods industry and Consumer Defensive sector, Procter & Gamble Co's Piotroski F-Score distribution charts can be found below:

* The bar in red indicates where Procter & Gamble Co's Piotroski F-Score falls into.


How is the Piotroski F-Score calculated?

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

This Year (Jun22) TTM:Last Year (Jun21) TTM:
Net Income was 4112 + 4223 + 3355 + 3052 = $14,742 Mil.
Cash Flow from Operations was 4643 + 5121 + 3246 + 3713 = $16,723 Mil.
Revenue was 20338 + 20953 + 19381 + 19515 = $80,187 Mil.
Gross Profit was 9973 + 10289 + 9055 + 8713 = $38,030 Mil.
Average Total Assets from the begining of this year (Jun21)
to the end of this year (Jun22) was
(119307 + 119669 + 121416 + 120217 + 117208) / 5 = $119563.4 Mil.
Total Assets at the begining of this year (Jun21) was $119,307 Mil.
Long-Term Debt & Capital Lease Obligation was $23,443 Mil.
Total Current Assets was $21,653 Mil.
Total Current Liabilities was $33,081 Mil.
Net Income was 4277 + 3854 + 3269 + 2906 = $14,306 Mil.

Revenue was 19318 + 19745 + 18109 + 18946 = $76,118 Mil.
Gross Profit was 10176 + 10492 + 9187 + 9155 = $39,010 Mil.
Average Total Assets from the begining of last year (Jun20)
to the end of last year (Jun21) was
(120700 + 119899 + 120112 + 116778 + 119307) / 5 = $119359.2 Mil.
Total Assets at the begining of last year (Jun20) was $120,700 Mil.
Long-Term Debt & Capital Lease Obligation was $23,730 Mil.
Total Current Assets was $23,091 Mil.
Total Current Liabilities was $33,132 Mil.

*Note: If the latest quarterly/semi-annual/annual total assets data is 0, then we will use previous quarterly/semi-annual/annual data for all the items in the balance sheet.

Profitability

Question 1. Return on Assets (ROA)

Net income before extraordinary items for the year divided by Total Assets at the beginning of the year.

Score 1 if positive, 0 if negative.

Procter & Gamble Co's current Net Income (TTM) was 14,742. ==> Positive ==> Score 1.

Question 2. Cash Flow Return on Assets (CFROA)

Net cash flow from operating activities (operating cash flow) divided by Total Assets at the beginning of the year.

Score 1 if positive, 0 if negative.

Procter & Gamble Co's current Cash Flow from Operations (TTM) was 16,723. ==> Positive ==> Score 1.

Question 3. Change in Return on Assets

Compare this year's return on assets (1) to last year's return on assets.

Score 1 if it's higher, 0 if it's lower.

ROA (This Year)=Net Income/Total Assets (Jun21)
=14742/119307
=0.12356358

ROA (Last Year)=Net Income/Total Assets (Jun20)
=14306/120700
=0.11852527

Procter & Gamble Co's return on assets of this year was 0.12356358. Procter & Gamble Co's return on assets of last year was 0.11852527. ==> This year is higher. ==> Score 1.

Question 4. Quality of Earnings (Accrual)

Compare Cash flow return on assets (2) to return on assets (1)

Score 1 if CFROA > ROA, 0 if CFROA <= ROA.

Procter & Gamble Co's current Net Income (TTM) was 14,742. Procter & Gamble Co's current Cash Flow from Operations (TTM) was 16,723. ==> 16,723 > 14,742 ==> CFROA > ROA ==> Score 1.

Funding

Question 5. Change in Gearing or Leverage

Compare this year's gearing (long-term debt divided by average total assets) to last year's gearing.

Score 0 if this year's gearing is higher, 1 otherwise.

Gearing (This Year: Jun22)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Jun21 to Jun22
=23443/119563.4
=0.19607171

Gearing (Last Year: Jun21)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Jun20 to Jun21
=23730/119359.2
=0.19881165

Procter & Gamble Co's gearing of this year was 0.19607171. Procter & Gamble Co's gearing of last year was 0.19881165. ==> This year is lower or equal to last year. ==> Score 1.

Question 6. Change in Working Capital (Liquidity)

Compare this year's current ratio (current assets divided by current liabilities) to last year's current ratio.

Score 1 if this year's current ratio is higher, 0 if it's lower

Current Ratio (This Year: Jun22)=Total Current Assets/Total Current Liabilities
=21653/33081
=0.6545449

Current Ratio (Last Year: Jun21)=Total Current Assets/Total Current Liabilities
=23091/33132
=0.69693951

Procter & Gamble Co's current ratio of this year was 0.6545449. Procter & Gamble Co's current ratio of last year was 0.69693951. ==> Last year's current ratio is higher ==> Score 0.

Question 7. Change in Shares in Issue

Compare the number of shares in issue this year, to the number in issue last year.

Score 0 if there is larger number of shares in issue this year, 1 otherwise.

Procter & Gamble Co's number of shares in issue this year was 2523.2. Procter & Gamble Co's number of shares in issue last year was 2572.8. ==> There is smaller number of shares in issue this year, or the same. ==> Score 1.

Efficiency

Question 8. Change in Gross Margin

Compare this year's gross margin (Gross Profit divided by sales) to last year's.

Score 1 if this year's gross margin is higher, 0 if it's lower.

Gross Margin (This Year: TTM)=Gross Profit/Revenue
=38030/80187
=0.4742664

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=39010/76118
=0.51249376

Procter & Gamble Co's gross margin of this year was 0.4742664. Procter & Gamble Co's gross margin of last year was 0.51249376. ==> Last year's gross margin is higher ==> Score 0.

Question 9. Change in asset turnover

Compare this year's asset turnover (total sales for the year divided by total assets at the beginning of the year) to last year's asset turnover ratio.

Score 1 if this year's asset turnover ratio is higher, 0 if it's lower

Asset Turnover (This Year)=Revenue/Total Assets at the Beginning of This Year (Jun21)
=80187/119307
=0.67210641

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Jun20)
=76118/120700
=0.63063795

Procter & Gamble Co's asset turnover of this year was 0.67210641. Procter & Gamble Co's asset turnover of last year was 0.63063795. ==> This year's asset turnover is higher. ==> Score 1.

Evaluation

Piotroski F-Score= Que. 1+ Que. 2+ Que. 3+Que. 4+Que. 5+Que. 6+Que. 7+Que. 8+Que. 9
=1+1+1+1+1+0+1+0+1
=7

Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3

Procter & Gamble Co has an F-score of 7. It is a good or high score, which usually indicates a very healthy situation.

Procter & Gamble Co  (NYSE:PG) Piotroski F-Score Explanation

The developer of the system is Joseph D. Piotroski is relatively unknown accounting professor who shuns publicity and rarely gives interviews.

He graduated from the University of Illinois with a B.S. in accounting in 1989, received an M.B.A. from Indiana University in 1994. Five years later, in 1999, after earning a Ph.D. in accounting from the University of Michigan, he became an associate professor of accounting at the University of Chicago.

In 2000, he wrote a research paper called "Value Investing: The Use of Historical Financial Statement Information to Separate Winners from Losers" (pdf).

He wanted to see if he can develop a system (using a simple nine-point scoring system) that can increase the returns of a strategy of investing in low price to book (referred to in the paper as high book to market) value companies.

What he found was something that exceeded his most optimistic expectations.

Buying only those companies that scored highest (8 or 9) on his nine-point scale, or F-Score as he called it, over the 20 year period from 1976 to 1996 led to an average out-performance over the market of 13.4%.

Even more impressive were the results of a strategy of investing in the highest F-Score companies (8 or 9) and shorting companies with the lowest F-Score (0 or 1).

Over the same period from 1976 to 1996 (20 years) this strategy led to an average yearly return of 23%, substantially outperforming the average S&P 500 index return of 15.83% over the same period.


Procter & Gamble Co Piotroski F-Score Related Terms

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Procter & Gamble Co Business Description

Procter & Gamble Co logo
Address
One Procter and Gamble Plaza, Cincinnati, OH, USA, 45202
Since its founding in 1837, Procter & Gamble has become one of the world's largest consumer product manufacturers, generating more than $75 billion in annual sales. It operates with a lineup of leading brands, including 21 that generate more than $1 billion each in annual global sales, such as Tide laundry detergent, Charmin toilet paper, Pantene shampoo, and Pampers diapers. P&G sold its last remaining food brand, Pringles, to Kellogg in calendar 2012. Sales outside its home turf represent around 55% of the firm's consolidated total, with around one third coming from emerging markets.
Executives
Davis Jennifer L. officer: CEO - Health Care 1 PROCTER & GAMBLE PLAZA CINCINNATI OH 45202
Janzaruk Matthew W. officer: SVP - Chief Accounting Officer 1 PROCTER & GAMBLE PLAZA CINCINNATI OH 45202
Kempczinski Christopher J director THREE LAKES DRIVE NORTHFIELD IL 60093
Raman Sundar G. officer: CEO-Fabric & Home Care ONE PROCTER & GAMBLE PLAZA CINCINNATI OH 45202
Homan Michael G. officer: SVP - Chief Accounting Officer ONE PROCTER & GAMBLE PLAZA CINCINNATI OH 45202
Schulten Andre officer: Chief Financial Officer ONE PROCTER & GAMBLE PLAZA CINCINNATI OH 45202
Allen Bertrand Marc director 100 N. RIVERSIDE PLAZA MC 5003-1001 CHICAGO IL 60606
Aguilar Moses Victor Javier officer: Chf Rsch, Dev & Innov Officer ONE PROCTER & GAMBLE PLAZA CINCINNATI OH 45202
Lee Debra L director C/O BLACK ENTERTAINMENT 1 BET PLZ. 1900W PLACE N.W. WASHINGTON DC 20018
Mccarthy Christine M director 500 SOUTH BUENA VISTA STREET BURBANK CA 91521-0964
Grabowski Mary Theresa officer: Chief Human Resources Officer ONE PROCTER & GAMBLE PLAZA CINCINNATI OH 45202
Jejurikar Shailesh officer: President - Global Fabric Care ONE PROCTER & GAMBLE PLAZA CINCINNATI OH 45202
Francisco Ma. Fatima officer: President - Global Baby ONE PROCTER & GAMBLE PLAZA CINCINNATI OH 45202
Peltz Nelson director 223 SUNSET AVENUE PALM BEACH FL 33480
Tassel Loic officer: President - Europe SMO ONE PROCTER & GAMBLE PLAZA CINCINNATI OH 45202

Procter & Gamble Co Headlines

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