KMB vs PG: Kimberly-Clark and Procter & Gamble compared
The short version
From the latest prices and each company's SEC filings. Who's ahead on each measure, not which to buy.
- Procter & Gamble is the larger company, worth $349.8B, about 10.9 times Kimberly-Clark.
- Procter & Gamble grew revenue faster over the last year (+1.5% vs +0.6%).
- Procter & Gamble keeps more of each dollar of revenue as operating profit (22.7% vs 15.2%).
- On earnings, Kimberly-Clark is the cheaper stock (18.8x vs 22.0x).
- Procter & Gamble's price assumes faster free cash flow growth: about 7% a year, against 5% for Kimberly-Clark (reverse DCF).
Side by side
The stronger figure is shaded where higher (or, for valuation multiples, lower) reads as better. How the implied growth works.
| Measure | KMB | PG |
|---|---|---|
| Market cap | $32.2B | $349.8B |
| Share price | $97.59 | $151.23 |
| Revenue (last fiscal year) | $16.4B | $87.0B |
| Free cash flow (last fiscal year) | $1.6B | $15.1B |
| Revenue growth, last year | +0.6% | +1.5% |
| Revenue growth per year, last 5 fiscal years | -4.1% | +2.1% |
| Operating margin | 15.2% | 22.7% |
| Net margin | 11.8% | 18.4% |
| Return on equity | 111.7% | 29.5% |
| P/E (trailing) | 18.8x | 22.0x |
| Price / free cash flow | 19.7x | 24.9x |
| EV / EBITDA | 12.3x | 14.7x |
| FCF growth the price implies | 4.8% | 6.9% |
| Dividend yield | 5.2% | 2.8% |
| Debt / equity | 9.53x | 1.33x |
| Fundamental grade | D | C |
| Superinvestors holding it | 8 | 10 |
| Insider purchases, last 12 months | 8 | 10 |
Results from SEC filings
Revenue and free cash flow by fiscal year, from each company's 10-K filings.
Kimberly-Clark
| Year | Revenue | Free cash flow | Op. margin |
|---|---|---|---|
| 2021 | $19.4B | $1.7B | 13.2% |
| 2022 | $20.2B | $1.9B | 13.3% |
| 2023 | $17.1B | $2.8B | 11.2% |
| 2024 | $16.8B | $2.5B | 16.1% |
| 2025 | $16.4B | $1.6B | 14.3% |
Procter & Gamble
| Year | Revenue | Free cash flow | Op. margin |
|---|---|---|---|
| 2022 | $80.2B | $13.6B | 22.2% |
| 2023 | $82.0B | $13.8B | 22.1% |
| 2024 | $84.0B | $16.5B | 22.1% |
| 2025 | $84.3B | $14.0B | 24.3% |
| 2026 | $87.0B | $15.1B | 22.7% |
Where the revenue comes from
Kimberly-Clark · by segments, 2025
NA$10.8B65%
IPC$5.7B35%
Procter & Gamble · by segments, 2026
Fabric & Home Care$30.3B35%
Baby, Feminine & Family Care$20.4B24%
Beauty$16.0B19%
Health Care$12.5B14%
Grooming$6.9B8%
Compare them in fullFifteen years of statements, quarterly results, DCF and IRR models, and any number of peers side by side.
Open KMB in InvestinglyQuestions
Which is bigger, Kimberly-Clark or Procter & Gamble?
Procter & Gamble (PG), at $349.8B against $32.2B.
Is KMB or PG cheaper?
By trailing P/E, Kimberly-Clark (18.8x) is cheaper than Procter & Gamble (22.0x). A lower multiple can also mean the market expects less growth.
Which grows faster, KMB or PG?
Procter & Gamble: revenue grew +1.5% over the last year, against +0.6%.
Prices and ratios as of the last daily update; statements from SEC filings. Information only, not investment advice.