As of Q2'26 (2025-12-31), Procter & Gamble reported Cash & Short-term Investments of $10.8B and Debt of $36.6B. This marks a slight decrease in cash from the previous quarter, while debt reached its highest level in the observed period. From Q3'23 to Q2'26, Cash & Short-term Investments exhibited moderate volatility, peaking at $12.2B in Q1'26 and dipping as low as $6.8B in Q3'24. Debt levels generally trended downward through mid-2024, reaching a low of $31.9B in Q3'24, before rising steadily to end the period at $36.6B. Overall, while cash reserves have shown some recovery after mid-2024, the company’s debt has returned to earlier highs, suggesting increased leverage in recent quarters.