Procter & Gamble Company (PG)
Operating return on assets (Operating ROA)
| 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 | Jun 30, 2020 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating income (ttm) | US$ in thousands | 19,981,000 | 19,883,000 | 18,575,000 | 18,545,000 | 18,822,000 | 18,610,000 | 18,962,000 | 18,134,000 | 17,570,000 | 17,346,000 | 17,729,000 | 17,813,000 | 17,755,000 | 17,516,000 | 17,728,000 | 17,986,000 | 17,927,000 | 17,595,000 | 16,697,000 | 15,706,000 |
| Total assets | US$ in thousands | 122,984,000 | 122,639,000 | 126,482,000 | 122,370,000 | 119,598,000 | 120,709,000 | 122,531,000 | 120,829,000 | 119,851,000 | 117,715,000 | 116,282,000 | 117,208,000 | 120,217,000 | 121,416,000 | 119,669,000 | 119,307,000 | 116,778,000 | 120,112,000 | 119,899,000 | 120,700,000 |
| Operating ROA | 16.25% | 16.21% | 14.69% | 15.15% | 15.74% | 15.42% | 15.48% | 15.01% | 14.66% | 14.74% | 15.25% | 15.20% | 14.77% | 14.43% | 14.81% | 15.08% | 15.35% | 14.65% | 13.93% | 13.01% |
March 31, 2025 calculation
Operating ROA = Operating income (ttm) ÷ Total assets
= $19,981,000K ÷ $122,984,000K
= 16.25%
The operating return on assets (ROA) of Procter & Gamble exhibits a generally upward trend over the period from June 2020 through March 2025, reflecting improvements in operational efficiency and asset utilization.
From June 2020 to December 2020, the operating ROA increased from 13.01% to 14.65%, indicating a positive development in operating performance during this period. This growth continued into the first quarter of 2021, reaching 15.35%, which suggests enhanced profitability relative to the company's assets.
Throughout 2021, the operating ROA displayed some fluctuations, peaking at 15.08% in June and slightly declining to 14.43% by the end of the year. This oscillation reflects typical operational variations but overall remains within a healthy range, suggesting consistent management effectiveness in asset utilization.
In 2022, the ratio saw a modest increase, reaching a peak of 15.25% in September, before slightly declining to 14.74% by year-end. The first quarter of 2023 maintained this stabilized pattern with a ROA of 14.66%, which then experienced an upward adjustment to 15.01% in June 2023, indicating ongoing operational resilience.
From September 2023 onward, the operating ROA demonstrated a notable upward movement, reaching 15.48% in the third quarter of 2023. The subsequent increase to 16.21% in December 2024 and further to 16.25% in March 2025 underscores a significant enhancement in operating efficiency and asset profitability.
Overall, the trend in Procter & Gamble's operating ROA from mid-2020 to early 2025 reflects a consistent ability to generate greater operating income relative to its assets. The upward trajectory in the later periods suggests improved operational performance, potentially driven by strategic initiatives, cost management, or favorable market conditions. Despite some short-term fluctuations, the broader pattern indicates a positive outlook in the company's asset utilization effectiveness over this period.