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1 paragraph in Risk Factors of the 10-K filed Aug 4, 2026 with nothing like it in the 10-K filed Aug 4, 2025. Quoted exactly. Paragraphs that were only edited are under 10-K change.
Compared with the Risk Factors in the latest 10-K of the other 31 Consumer staples companies: a paragraph with at least half its words the same at another company is called similar, and the companies are listed under it. A paragraph most of them have is marked boilerplate. No line means no other company has one like it. This counts text; it does not say how serious a risk is.
The conflict in the Middle East could also adversely impact our financial results and operations due to, for example, volatility in global energy markets, supply chain disruptions, inflationary pressures or trade restrictions.
Read in the 10-K ↗
10 paragraphs in the 10-Q filed Oct 22, 2026 with nothing like them in the 10-Q filed Apr 24, 2026 (at least half the words must differ; new numbers alone do not count). Quoted exactly, grouped by the item heading above them. This is text that changed, not a judgement of how serious it is.
Three Months Ended September 30 Amounts in millions 2026 2025 ──────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────── NET EARNINGS $ 4,757 $ 4,781 OTHER COMPREHENSIVE INCOME/(LOSS), NET OF TAX Change in defined benefit postretirement plans Other comprehensive income/(loss) before reclassifications (7) (8) Reclassifications to Consolidated Statement of Earnings (1) 5 13 Total change in defined benefit postretirement plans, before tax (2) 5 Income tax benefit/(expense) 1 (2) Total change in defined benefit postretirement plans, net of tax (2) 3 Change in foreign currency translation and other Other comprehensive income/(loss) before reclassifications (182) (12) Reclassifications to Consolidated Statement of Earnings — — Total change in foreign currency translation and other, before tax (182) (12) Income tax benefit/(expense) (5) (10) Total change in foreign currency translation and other, net of tax (187) (22) TOTAL OTHER COMPREHENSIVE INCOME/(LOSS), NET OF TAX (189) (19) TOTAL COMPREHENSIVE INCOME 4,568 4,762 Less: Comprehensive income attributable to noncontrolling interests 24 24 TOTAL COMPREHENSIVE INCOME ATTRIBUTABLE TO PROCTER & GAMBLE $ 4,544 $ 4,737
Read in the 10-Q ↗
Three Months Ended September 30 Amounts in millions 2026 2025 ────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────── CASH, CASH EQUIVALENTS AND RESTRICTED CASH, BEGINNING OF PERIOD $ 9,942 $ 9,556 OPERATING ACTIVITIES Net earnings 4,757 4,781 Depreciation and amortization 810 761 Share-based compensation expense 98 121 Deferred income taxes 115 53 (Gain)/loss on sale of assets (20) (3) Change in accounts receivable (589) (305) Change in inventories (349) (303) Change in accounts payable 1,149 648 Other (204) (344) TOTAL OPERATING ACTIVITIES 5,767 5,408 INVESTING ACTIVITIES Capital expenditures (1,366) (1,200) Proceeds from asset sales 27 8 Acquisitions, net of cash acquired — (5) Other investing activity (121) (338) TOTAL INVESTING ACTIVITIES (1,460) (1,535) FINANCING ACTIVITIES Dividends to shareholders (2,603) (2,549) Additions to short-term debt with original maturities of more than three months — 1,123 Reductions in short-term debt with original maturities of more than three months (157) (1,800) Net additions/(reductions) to other short-term debt 5,758 2,108 Reductions in long-term debt (747) (3) Treasury stock purchases (1,250) (1,250) Impact of stock options and other 143 134 TOTAL FINANCING ACTIVITIES 1,144 (2,239) EFFECT OF EXCHANGE RATE CHANGES ON CASH, CASH EQUIVALENTS AND RESTRICTED CASH (29) (20) CHANGE IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH 5,423 1,615 CASH, CASH EQUIVALENTS AND RESTRICTED CASH, END OF PERIOD $ 15,365 $ 11,171
Read in the 10-Q ↗
During the quarter ended September 30, 2026, the Company realigned its Fabric & Home Care reporting segment to include Habitat Care, which is now operating under the Fabric & Home Care leadership team. Previously, the results of the Habitat Care business were reported in the Corporate segment. Certain amounts in the prior year presentation between segments were reclassified to conform to the current year’s presentation.
Read in the 10-Q ↗
% of Net sales by operating segment (1) Three Months Ended September 30 2026 2025 Fabric Care 23% 23% Home Care 13% 12% Hair Care 10% 10% Baby Care 9% 9% Family Care 8% 8% Grooming 8% 8% Oral Care 8% 8% Feminine Care 6% 6% Personal Care 6% 6% Personal Health Care 6% 7% Other 3% 3% Total 100% 100%
Read in the 10-Q ↗
On October 1, 2026, the Company completed the acquisition of Thorne, a premium wellness and supplement brand in the vitamins, minerals and supplements category for $ 3.9 billion in an all-cash transaction. Thorne primarily sells in North America and will be part of our Personal Health Care operating segment. The initial accounting and determination of fair value for the acquired assets and liabilities is not yet complete; the preliminary allocation of purchase prices will be finalized during the three months ending December 31, 2026. The primary assets acquired are an indefinite-lived brand intangible asset and goodwill. The results of Thorne, which are not material to the Company, will be reported in our Consolidated financial statements beginning with the three months ending December 31, 2026.
Read in the 10-Q ↗
On October 1, 2026, the Company completed the acquisition of Thorne, a premium wellness and supplement brand in the vitamins, minerals and supplements category for $3.9 billion in an all-cash transaction. Thorne primarily sells in North America and will be part of our Personal Health Care operating segment. The results of Thorne, which are not material to the Company, will be reported in our Consolidated financial statements beginning with the three months ending December 31, 2026.
Read in the 10-Q ↗
• Diluted EPS increased 1% to $1.97. Core EPS, which represents diluted EPS excluding charges for incremental restructuring, increased 1% to $2.00.
Read in the 10-Q ↗
During the three months ended September 30, 2026, the Company realigned its Fabric & Home Care reporting segment to include Habitat Care, which is now operating under the Fabric & Home Care leadership team. Previously, the results of the Habitat Care business were reported in the Corporate segment. Certain amounts in the prior year presentation between segments were reclassified to conform to the current year’s presentation.
Read in the 10-Q ↗
The aforementioned changes in Net sales and Net earnings/(loss) for our Fabric & Home Care reportable segment were not material for the years ended June 30, 2026, 2025 and 2024.
Read in the 10-Q ↗
The table below presents the results as if the segment changes had been in effect for the noted periods.
Read in the 10-Q ↗
Item 1A of the 10-Q filed Oct 22, 2026 against Item 1A of the 10-K filed Aug 4, 2026.
A 10-Q repeats only the risks that changed, so a 10-K paragraph that is missing from it is not counted as removed.
Added is a paragraph with nothing like it in the 10-K, Reworded a sentence that is in both with several words changed,
Quiet changes a sentence in both where one to four words changed and one is a hedge or a modal
(cut words struck through, new words highlighted and underlined).
Text on the page, not a score; each links to the filing at sec.gov.
What the 10-Q itself says about its risk factors:
Read in the 10-Q ↗
For information on risk factors, please refer to "Risk Factors" in Part I, Item 1A of the Company's Form 10-K for the fiscal year ended June 30, 2026.
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