1. Procter & Gamble Co. (NYSE: PG)
Current Price: $71.70
Trade Direction: Long
Target Price: $78
Time Horizon: 2 Years
Presenters: William Woodward, Alex Cooler,
and Adam Spoone
All data is current as of 9/30/15

2.  Top five shareholders
1. Vanguard Group Inc.: 6.12%
2. State Street Corp.: 4.17%
3. P&G Company Profit Sharing Trust:
3.14%
4. BlackRock Fund Advisors: 2.92%
5. Berkshire Hathaway Inc.: 1.95%
 Short interest ratio: 2.798
 Insider Ownership: 0.05%
 Ownership Breakdown:***
1. Institutions: 62.97%
2. Funds: 29.14%
3. Insiders: 0.05%
3/16/20161
Basic Items
Shareholders Analysts
 Consensus: Overweight
 Buys: 8
 Overweight: 1
 Holds: 13
 Underweight: 1
 Sells: 1
– Mean Recommendation: 2.42
34%
4%
54%
4% 4%
Analyst Estimate
Buys
Overweight
Holds
Underweight
Sells

3. 3/16/20162
International
%
Company Overview
Revenue By Quarter
• The Procter & Gamble Company, together with its subsidiaries,
manufactures and sells branded consumer packaged products
worldwide.
• It operates through five segments: Beauty, Hair and Personal Care;
Grooming; Health Care; Fabric Care and Home Care; and Baby,
Feminine and Family Care.
Q3 - 2015 Q4 - 2015 (Est.) Q1 - 2016 (Est.) Q2 - 2016
Revenue: 18.1B Revenue: 17.8B Revenue: 17.5B Revenue:
17.9B
EPS: 1.00 EPS: 0.92 EPS: 0.9621 EPS: 1.02
Dividends: 0.6436 Dividends: 0.6629 Dividends: 0.6629 Dividends:
0.6629
Comparables Investment HighlightsCompany Overview

4. 3/16/2016 3
Segment Breakdown

5. 4
Comparables
Company Stock
Price
Mkt
Cap
P/E 12M
EPS
ROE Revenu
e
Growth
Y/Y
Net Profit
Margin
Divide
nd
Yield
Proctor &
Gamble Co.
(PG)
$72.28 $196.1
1B
17.96 -
21.5
9%
10.47% -5.26% 49.31% 3.62%
Colgate-
Palmolive
Co. (CL)
$63.07 $56.77
B
22.43 -
1.24
%
204.75% -0.82% 58.21% 2.35%
Avon
Products
Inc. (AVP)
$3.25 $1.41B - - -
8700
.00%
-72.30% -
11.09%
61.1.9% 7.38%
L’Oreal
Group (OR)
$167.4
7
$93.79
B
27.93 -
0.44
%
22.07% -1.84% - - 1.81%
Comparables Investment Highlights Company Overview

6.  Despite tough market, P&G continues its dividend yield:
– A company that is extremely devoted to its dividend yield for the past 25 years
– Stock dividend yield is up 33% on its peer group
– Continual rise in dividends attracts investors, will help stock price to rise
 Promising outlook in earnings growth
– Earnings forecast shows a strong increase in upcoming years
– Selloff of various product lines will help with future earnings
 Major factors to a turnaround: struggling price will come back
5
Investment Highlights
Dividend Yield Forecast Earnings Growth
Investment Highlights Catalysts Comparables

7. 3/16/2016 6
Upside
 Several factors to look at:
-Selling relatively close to its 52 week low with an promising future
-P&G is looking to redo its company with remodeling of infrastructure such as hiring new
CEO and 35 year veteran David Taylor on November 1st, 2015
-Selling of struggling lines like Duracell for $4.7B and 43 beauty product lines to Coty for
12.5 billion will help company to focus on more lucrative products like Tide and Gillette
-Stock buyback program
-Plans to re-base EPS with reinvestment behind the business in order to push improved
market share trends
-Settling of the value of the dollar will also help P&G’s overseas products to be cheaper
and increase their competition in foreign/emerging markets
 A great dividend yield with a beaten down stock price
 Lower P/E to the average of its market sector: Average of about 20

8.  Too diversified in the slowing consumer markets
-Owns too many products across too many consumer segments.
-Starting to lose to more single product/segmented companies, i.e. Revlon, Clorox,
L'Oréal
-Specifically losing in Olay, Aussie, Pantene
-International presence
-Largest international presence in Brazil and Venezuela.
-Devaluation of the Brazilian Real and
Venezuelan Bolivar.
-Next to no growth in the international markets
3/16/2016 7
Downside

9. Catalysts
 Interest rate hold off
– Dollar is cheaper helping everyday consumer
– Hope for help in consumer market
 Dividend Increase
– Have increased dividend payout consistently
(61 years)
– Dividend Growth rate at 10% in the last 25
years
 Restructuring
– Announced sale of 43 beauty line products to
Coty
– Expected to close sale of Duracell
– New CEO
8
Dividend
Growth
5 Yr 3 Yr 1 Yr
Growth 7.22% 6.32% 4.93%
Catalysts Management Analysis Conclusion

10.  Proven and Experienced Management
 Alan George Lafley “AG” (Retiring) CEO and Chairman
 Been with the firm since 2015
 11/1/2015 will step down and become non executive chairman
 David S. Taylor (New) CEO
 Been groomed for position
 Successful M&A transactions helped him excell
 Focused on producing quality products throughout restructuring
of the company, while focusing on the customer
Management Analysis
Management Analysis Conclusion Catalysts

11.  Income stock, Dividend Growth
 Interest rates in the US held off
hopefully helping consumer
markets
 Restructuring of business brands
 New CEO
3/16/2016 10
Conclusion
Rationale Risks
 Devaluation of Foreign Markets
 Too diversified
 Consumer Markets down