Procter & Gamble Company (PG)
Cash ratio
| 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash and cash equivalents | US$ in thousands | 9,556,000 | 9,116,000 | 10,230,000 | 12,156,000 | 9,482,000 | 6,828,000 | 7,890,000 | 9,733,000 | 8,246,000 | 7,596,000 | 6,854,000 | 6,710,000 | 7,214,000 | 8,526,000 | 11,544,000 | 10,370,000 | 10,288,000 | 10,007,000 | 11,941,000 | 13,392,000 |
| Short-term investments | US$ in thousands | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Total current liabilities | US$ in thousands | 36,058,000 | 34,248,000 | 33,797,000 | 36,420,000 | 33,627,000 | 32,340,000 | 35,950,000 | 37,158,000 | 35,756,000 | 38,030,000 | 38,746,000 | 36,618,000 | 33,081,000 | 34,401,000 | 38,027,000 | 36,589,000 | 33,132,000 | 32,016,000 | 31,744,000 | 30,008,000 |
| Cash ratio | 0.27 | 0.27 | 0.30 | 0.33 | 0.28 | 0.21 | 0.22 | 0.26 | 0.23 | 0.20 | 0.18 | 0.18 | 0.22 | 0.25 | 0.30 | 0.28 | 0.31 | 0.31 | 0.38 | 0.45 |
June 30, 2025 calculation
Cash ratio = (Cash and cash equivalents + Short-term investments) ÷ Total current liabilities
= ($9,556,000K
+ $—K)
÷ $36,058,000K
= 0.27
The Procter & Gamble Company’s cash ratio has demonstrated notable fluctuations over the analyzed period from September 30, 2020, through June 30, 2025. Initially, at the end of September 2020, the cash ratio stood at 0.45, indicating that the company's available cash and cash equivalents were 45% of its current liabilities, which suggests a moderate liquidity position. Subsequently, there was a consistent decline through the following quarters, reaching a low point of 0.18 by September 30, 2022. This decline reflects a decreasing proportion of cash relative to current liabilities, potentially indicating a strategic shift in liquidity management or increased utilization of cash for operational needs, investments, or reduction of liabilities.
From late 2022 onward, the cash ratio exhibits a fluctuating upward trend, reaching 0.33 by September 30, 2024, suggesting an improvement in liquidity positioning or a cautious accrual of cash reserves. The ratio remains within a relatively narrow range of 0.21 to 0.33 over the entire period, indicating a consistent approach to liquidity management relative to current liabilities.
Overall, the trend underscores a pattern of initial cash ratio compression during 2020–2022, followed by a partial recovery and stabilization in the subsequent years. Such movements highlight the company’s dynamic approach to liquidity, potentially balancing operational requirements, investments, and liquidity reserves in response to market conditions and internal strategic decisions.