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Side-by-side financial comparison of Procter & Gamble (PG) and Verizon (VZ). Click either name above to swap in a different company.
Verizon is the larger business by last-quarter revenue ($34.4B vs $22.2B, roughly 1.6× Procter & Gamble). Procter & Gamble runs the higher net margin — 19.4% vs 14.9%, a 4.5% gap on every dollar of revenue. On growth, Verizon posted the faster year-over-year revenue change (2.9% vs 1.5%). Procter & Gamble produced more free cash flow last quarter ($3.8B vs $3.8B). Over the past eight quarters, Procter & Gamble's revenue compounded faster (4.9% CAGR vs 2.5%).
The Procter & Gamble Company (P&G) is an American multinational consumer goods corporation incorporated and headquartered in Cincinnati, Ohio.
Verizon Communications Inc., is an American telecommunications company headquartered in New York City. It is the world's second-largest telecommunications company by revenue and its mobile network is the largest wireless carrier in the United States, with 146.1 million subscribers as of June 30, 2025.
PG vs VZ — Head-to-Head
Income Statement — Q2 FY2026 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $22.2B | $34.4B |
| Net Profit | $4.3B | $5.1B |
| Gross Margin | 51.2% | — |
| Operating Margin | 24.2% | 23.9% |
| Net Margin | 19.4% | 14.9% |
| Revenue YoY | 1.5% | 2.9% |
| Net Profit YoY | -6.7% | 3.3% |
| EPS (diluted) | $1.78 | — |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q1 26 | — | $34.4B | ||
| Q4 25 | $22.2B | $36.4B | ||
| Q3 25 | $22.4B | $33.8B | ||
| Q2 25 | $20.9B | $34.5B | ||
| Q1 25 | $19.8B | $33.5B | ||
| Q4 24 | $21.9B | $35.7B | ||
| Q3 24 | $21.7B | $33.3B | ||
| Q2 24 | $20.5B | $32.8B |
| Q1 26 | — | $5.1B | ||
| Q4 25 | $4.3B | $2.3B | ||
| Q3 25 | $4.8B | $5.0B | ||
| Q2 25 | $3.6B | $5.0B | ||
| Q1 25 | $3.8B | $4.9B | ||
| Q4 24 | $4.6B | $5.0B | ||
| Q3 24 | $4.0B | $3.3B | ||
| Q2 24 | $3.1B | $4.6B |
| Q1 26 | — | — | ||
| Q4 25 | 51.2% | — | ||
| Q3 25 | 51.4% | — | ||
| Q2 25 | 49.1% | — | ||
| Q1 25 | 51.0% | — | ||
| Q4 24 | 52.4% | — | ||
| Q3 24 | 52.1% | — | ||
| Q2 24 | 49.6% | — |
| Q1 26 | — | 23.9% | ||
| Q4 25 | 24.2% | 13.8% | ||
| Q3 25 | 26.2% | 24.0% | ||
| Q2 25 | 20.8% | 23.7% | ||
| Q1 25 | 23.0% | 23.8% | ||
| Q4 24 | 26.2% | 20.8% | ||
| Q3 24 | 26.7% | 17.8% | ||
| Q2 24 | 18.9% | 23.8% |
| Q1 26 | — | 14.9% | ||
| Q4 25 | 19.4% | 6.4% | ||
| Q3 25 | 21.2% | 14.6% | ||
| Q2 25 | 17.3% | 14.5% | ||
| Q1 25 | 19.1% | 14.6% | ||
| Q4 24 | 21.2% | 14.0% | ||
| Q3 24 | 18.2% | 9.9% | ||
| Q2 24 | 15.3% | 14.0% |
| Q1 26 | — | — | ||
| Q4 25 | $1.78 | $0.56 | ||
| Q3 25 | $1.95 | $1.17 | ||
| Q2 25 | $1.48 | $1.18 | ||
| Q1 25 | $1.54 | $1.15 | ||
| Q4 24 | $1.88 | $1.18 | ||
| Q3 24 | $1.61 | $0.78 | ||
| Q2 24 | $1.27 | $1.09 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | — | $8.4B |
| Total DebtLower is stronger | — | $144.2B |
| Stockholders' EquityBook value | $53.3B | $104.6B |
| Total Assets | $127.3B | $417.9B |
| Debt / EquityLower = less leverage | — | 1.38× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $8.4B | ||
| Q4 25 | — | $19.0B | ||
| Q3 25 | — | $7.7B | ||
| Q2 25 | — | $3.4B | ||
| Q1 25 | — | $2.3B | ||
| Q4 24 | — | $4.2B | ||
| Q3 24 | — | $5.0B | ||
| Q2 24 | — | $2.4B |
| Q1 26 | — | $144.2B | ||
| Q4 25 | — | $139.5B | ||
| Q3 25 | — | $126.6B | ||
| Q2 25 | — | $123.9B | ||
| Q1 25 | — | $121.0B | ||
| Q4 24 | — | $121.4B | ||
| Q3 24 | — | $128.9B | ||
| Q2 24 | — | $126.0B |
| Q1 26 | — | $104.6B | ||
| Q4 25 | $53.3B | $105.7B | ||
| Q3 25 | $53.6B | $106.3B | ||
| Q2 25 | $52.3B | $104.4B | ||
| Q1 25 | $52.5B | $102.0B | ||
| Q4 24 | $51.4B | $100.6B | ||
| Q3 24 | $52.1B | $97.7B | ||
| Q2 24 | $50.6B | $97.5B |
| Q1 26 | — | $417.9B | ||
| Q4 25 | $127.3B | $404.3B | ||
| Q3 25 | $127.6B | $388.3B | ||
| Q2 25 | $125.2B | $383.3B | ||
| Q1 25 | $123.0B | $380.4B | ||
| Q4 24 | $122.6B | $384.7B | ||
| Q3 24 | $126.5B | $381.2B | ||
| Q2 24 | $122.4B | $379.1B |
| Q1 26 | — | 1.38× | ||
| Q4 25 | — | 1.32× | ||
| Q3 25 | — | 1.19× | ||
| Q2 25 | — | 1.19× | ||
| Q1 25 | — | 1.19× | ||
| Q4 24 | — | 1.21× | ||
| Q3 24 | — | 1.32× | ||
| Q2 24 | — | 1.29× |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $5.0B | $8.0B |
| Free Cash FlowOCF − Capex | $3.8B | $3.8B |
| FCF MarginFCF / Revenue | 17.1% | 11.0% |
| Capex IntensityCapex / Revenue | 5.3% | 12.2% |
| Cash ConversionOCF / Net Profit | 1.15× | 1.55× |
| TTM Free Cash FlowTrailing 4 quarters | $14.8B | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $8.0B | ||
| Q4 25 | $5.0B | $9.1B | ||
| Q3 25 | $5.4B | $11.3B | ||
| Q2 25 | $5.0B | $9.0B | ||
| Q1 25 | $3.7B | $7.8B | ||
| Q4 24 | $4.8B | $10.4B | ||
| Q3 24 | $4.3B | $9.9B | ||
| Q2 24 | $5.8B | $9.5B |
| Q1 26 | — | $3.8B | ||
| Q4 25 | $3.8B | — | ||
| Q3 25 | $4.2B | — | ||
| Q2 25 | $4.0B | — | ||
| Q1 25 | $2.8B | — | ||
| Q4 24 | $3.9B | — | ||
| Q3 24 | $3.3B | — | ||
| Q2 24 | $5.0B | — |
| Q1 26 | — | 11.0% | ||
| Q4 25 | 17.1% | — | ||
| Q3 25 | 18.8% | — | ||
| Q2 25 | 19.1% | — | ||
| Q1 25 | 14.4% | — | ||
| Q4 24 | 17.8% | — | ||
| Q3 24 | 15.2% | — | ||
| Q2 24 | 24.2% | — |
| Q1 26 | — | 12.2% | ||
| Q4 25 | 5.3% | — | ||
| Q3 25 | 5.4% | — | ||
| Q2 25 | 4.8% | — | ||
| Q1 25 | 4.3% | — | ||
| Q4 24 | 4.2% | — | ||
| Q3 24 | 4.6% | — | ||
| Q2 24 | 3.8% | — |
| Q1 26 | — | 1.55× | ||
| Q4 25 | 1.15× | 3.89× | ||
| Q3 25 | 1.14× | 2.28× | ||
| Q2 25 | 1.38× | 1.79× | ||
| Q1 25 | 0.98× | 1.59× | ||
| Q4 24 | 1.04× | 2.08× | ||
| Q3 24 | 1.09× | 3.00× | ||
| Q2 24 | 1.83× | 2.07× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
PG
| Fabric Home Care Segment | $7.7B | 35% |
| Baby Feminine Family Care Segment | $5.1B | 23% |
| Beauty Segment | $4.0B | 18% |
| Health Care Segment | $3.4B | 15% |
| Grooming Segment | $1.8B | 8% |
VZ
| Service revenues and other | $28.8B | 84% |
| Wireless equipment revenues | $5.7B | 16% |
