Procter & Gamble Company (PG)
Inventory turnover
| Jun 30, 2025 | Mar 31, 2025 | Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cost of revenue (ttm) | US$ in thousands | 41,164,000 | 40,881,000 | 41,042,000 | 40,768,000 | 40,848,000 | 41,113,000 | 41,662,000 | 42,415,000 | 42,760,000 | 42,949,000 | 42,871,000 | 42,638,000 | 42,157,000 | 41,146,000 | 39,742,000 | 38,331,000 | 37,108,000 | 36,259,000 | 36,053,000 | 35,669,000 |
| Inventory | US$ in thousands | 7,551,000 | 7,400,000 | 7,020,000 | 7,287,000 | 7,016,000 | 7,077,000 | 7,151,000 | 7,117,000 | 7,073,000 | 7,483,000 | 7,541,000 | 7,590,000 | 6,924,000 | 7,101,000 | 6,673,000 | 6,307,000 | 5,983,000 | 6,002,000 | 5,957,000 | 5,707,000 |
| Inventory turnover | 5.45 | 5.52 | 5.85 | 5.59 | 5.82 | 5.81 | 5.83 | 5.96 | 6.05 | 5.74 | 5.69 | 5.62 | 6.09 | 5.79 | 5.96 | 6.08 | 6.20 | 6.04 | 6.05 | 6.25 |
June 30, 2025 calculation
Inventory turnover = Cost of revenue (ttm) ÷ Inventory
= $41,164,000K ÷ $7,551,000K
= 5.45
The inventory turnover ratios for Procter & Gamble over the indicated periods demonstrate a relatively stable pattern with minor fluctuations. At the start of the observed timeframe, the ratio was 6.25 as of September 30, 2020, indicating a high efficiency in inventory management and the frequency with which inventory is sold and replaced. Subsequently, it experienced a slight decline, reaching 6.05 by December 31, 2020, and further decreasing to 6.04 by March 31, 2021.
During the subsequent quarters, the ratio exhibited minimal variation, fluctuating between approximately 6.20 and 5.79. Notably, the lowest point within the period appears to be observed on March 31, 2022, at 5.79, suggesting a marginal slowdown in inventory turnover. Following this dip, the ratio increased again, reaching 6.09 by June 30, 2022, implying improved inventory management.
From late 2022 onward, the inventory turnover ratios generally hovered around the mid-5.50s to mid-6.00s range. For example, the ratio was 5.62 as of September 30, 2022, then increased slightly to 5.69 on December 31, 2022, and remained relatively consistent through March and June 2023. The ratios depict a slight upward trend to approximately 6.05 by June 30, 2023, before declining again to 5.96 in September 2023.
In the most recent periods, a mild downward trend is apparent, with the ratio approaching 5.45 during June 2025, which is notably lower than initial levels. The latest data point for September 30, 2024, shows a ratio of 5.59, with a slight increase to 5.85 by December 2024, before decreasing again in 2025.
Overall, the inventory turnover ratios indicate that Procter & Gamble maintains a fairly consistent efficiency in managing inventory, with minor cyclical variations. The ratios are generally within a moderate range, reflecting balanced inventory management practices that avoid excessive stockpiles while ensuring sufficient product availability. The slight downward trends observed toward the end of the period may suggest efforts to optimize inventory levels further or adaptations to changing market conditions.
See also:
Procter & Gamble Company Inventory Turnover (Quarterly Data)