PG · Forward model · Grooming
What has to happen in Grooming
Model as of
This page changes Grooming inside the complete PG model. Every other vertical, corporate programme and valuation assumption stays in the selected portfolio case.
Shares this vertical and portfolio case. Slider and horizon edits stay in your browser.
Grooming
Basis quarter$1.70B
Final quarter$1.81B
Implied CAGR+1%
Final revenue mix8%
Blades, razors and appliances under Gillette, Venus and Braun. The highest-margin segment at 33.0% EBITDA and the smallest by revenue.
Last four quarters
2025 Q3
$1.82B
Reported
2025 Q4
$1.79B
Reported
2026 Q1
$1.61B
Reported
2026 Q2
$1.70B
Reported
Grooming (Appliances, Female Blades & Razors, Male Blades & Razors, Pre- and Post-Shave Products, Other Grooming)
Sequential growth
+0.3%/qtr
decaying toward +0.3%
0.31%/qtr: eight-quarter compound growth of deseasonalised Grooming net sales - price and currency, not volume.
Grooming
Latest: $1.81B (2031Q2E)
| Period | Value |
|---|---|
| 2021Q3 | $1.69B |
| 2021Q4 | $1.81B |
| 2022Q1 | $1.48B |
| 2022Q2 | $1.61B |
| 2022Q3 | $1.62B |
| 2022Q4 | $1.64B |
| 2023Q1 | $1.50B |
| 2023Q2 | $1.66B |
| 2023Q3 | $1.72B |
| 2023Q4 | $1.73B |
| 2024Q1 | $1.54B |
| 2024Q2 | $1.66B |
| 2024Q3 | $1.72B |
| 2024Q4 | $1.75B |
| 2025Q1 | $1.50B |
| 2025Q2 | $1.68B |
| 2025Q3 | $1.82B |
| 2025Q4 | $1.79B |
| 2026Q1 | $1.61B |
| 2026Q2 | $1.70B |
| 2026Q3E | $1.77B |
| 2026Q4E | $1.78B |
| 2027Q1E | $1.57B |
| 2027Q2E | $1.72B |
| 2027Q3E | $1.80B |
| 2027Q4E | $1.80B |
| 2028Q1E | $1.59B |
| 2028Q2E | $1.74B |
| 2028Q3E | $1.82B |
| 2028Q4E | $1.83B |
| 2029Q1E | $1.61B |
| 2029Q2E | $1.76B |
| 2029Q3E | $1.84B |
| 2029Q4E | $1.85B |
| 2030Q1E | $1.63B |
| 2030Q2E | $1.79B |
| 2030Q3E | $1.86B |
| 2030Q4E | $1.87B |
| 2031Q1E | $1.65B |
| 2031Q2E | $1.81B |
Assumptions & reasoning
- Segment identity, not an apportionment. Sixteen quarters are read from filed segment tables; the four April-June quarters are derived as fiscal-year total less the nine-month column and are marked estimated. Gillette, Venus and Braun are named brands within one reportable segment, and P&G reports no dollar split between them.
- The 33.04% EBITDA margin is fiscal 2026: (earnings before income taxes $1,966m + depreciation and amortisation $320m) / net sales $6,918m. It is the highest in the portfolio and the segment is the smallest by revenue, so it carries about 8% of net sales and 10% of company EBITDA.
- Grooming grew 4% in fiscal 2026 with 3 points of currency and 2 points of price against a 1% volume decline, and the June quarter was flat organically. Volume has now fallen for two consecutive fiscal years; every reported point of growth is price and currency.