Procter & Gamble reported 4% organic sales growth in the first quarter, driven by a 2.4% volume increase and a 1.6% aggregate benefit from higher prices and a favorable mix. However, cost savings couldn't offset inflationary pressure, so adjusted gross margin fell 150 basis points to 49.8%.
P&G is again gaining share in China (which we estimate at a high-single-digit percentage of sales), with its 4% growth in the fourth quarter outpacing the market's 2% decline. If share gains persist, sales could outpace our expectations.
North America remains in the doldrums (its largest market at around 50% of sales, down 1% in the fourth quarter); competitive and macro headwinds on its home turf could eventually dilute its brand standing.
|
Metric
|
PG
|
OR
|
UL
|
|---|---|---|---|
Price/Earnings (Normalized) | 24.39 | 32.56 | 19.77 |
Price/Book Value | 7.01 | 6.38 | 7.80 |
Price/Sales | 4.55 | 4.79 | 2.73 |
Price/Cash Flow | 20.63 | 24.80 | 21.61 |
|
Metric
|
PG
|
OR
|
UL
|
|---|---|---|---|
Quick Ratio | 0.49 | 0.58 | 0.57 |
Current Ratio | 0.72 | 0.97 | 0.74 |
Interest Coverage | 23.11 | 19.89 | — |
|
Metric
|
PG
|
OR
|
UL
|
|---|---|---|---|
Return on Assets (Normalized) | 12.95% | 11.46% | — |
Return on Equity (Normalized) | 30.92% | 20.96% | — |
Return on Invested Capital (Normalized) | 18.72% | 15.09% | — |
|
1-Day Chart
|
Name
|
Price
|
Morningstar Rating for Stocks
|
Capital Allocation
|
Economic Moat
|
Market Cap
|
|---|---|---|---|---|---|---|
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LRLCF
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UL
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CL
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RBGLY
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EL
| LOCK|<sykX% | LOCK|Wl# | $39B | |||
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KVUE
| LOCK|!K>bC< | LOCK|KRY | $38B | |||
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KMB
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CHD
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CLX
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United States