# Colgate-Palmolive (CL.US)

Canonical: https://gigainvestors.com/s/CL

Analysis as of: 2026-10-16T07:27:27.304Z. Financial observations: FY1996–FY2026.

Listing currency: USD. Reporting currency: USD.

## Verdict

Not a wonderful business

Quality tests for Buy: not passed (profit record: pass; earnings resilience is evidence only). Published buy qualification: no.

Share price: $92.67 per share; close as of 2026-10-15.

Estimated value: low $35.23 per share, central $39.94 per share, high $46.20 per share. Buy at or below the central value $39.94 per share. Valuation as of 2026-10-16T07:27:27.304Z; scenarios are not confidence intervals.

Expected annual return: 5.9% at the stated quote. About 5.9% a year at today's price (required return 10.0%). required return 10.0% a year (10% floor; US 10-year bond 5.1% + 4 points).

## Checklist

### understandable: pass

- 1 revenue decline in the last 10 years (informational)

- Financial history: 10 years

- Years with declining revenue: 1

- Years with a net loss: 0

- Operating margin variation: 0.13×

Chart: Operating margin; fiscal year observations.

- FY2017: 0.26×

- FY2018: 0.25×

- FY2019: 0.24×

- FY2020: 0.24×

- FY2021: 0.22×

- FY2022: 0.20×

- FY2023: 0.21×

- FY2024: 0.22×

- FY2025: 0.16×

- LTM to Jun 2026: 0.21×

### moat: pass

- ROIC, median of available years: 77.7%

- ROIC, second-lowest year: 47.8%

- Typical minus recent gross margin: -0.4 pp

- Typical gross margin (annual median): 59.7%

- Recent gross margin (lower of latest and 3-year median): 60.1%

- Years with nonpositive capital: 0

- Capital spending / revenue: 3.0%

- ROIC including acquisitions, ten-year median: 32.1%

Chart: ROIC excluding acquisitions; fiscal year observations.

- FY2016: 95.5%

- FY2017: 94.3%

- FY2018: 94.5%

- FY2019: 26.4%

- FY2020: 81.4%

- FY2021: 75.0%

- FY2022: 47.8%

- FY2023: 56.4%

- FY2024: 80.5%

- FY2025: 58.2%

### economics: fail

- incremental invested capital return below threshold

- Owner earnings / net income, 5-yr: 1.01×

- Cash conversion uses consolidated totals: No

- Owner earnings, five-year total: $11B

- Net income, five-year total: $11B

- Return on incremental invested capital: -90.7%

- Working capital / revenue, annual change: -0.1 pp

- Working capital / revenue, change between three-year averages: -0.9 pp

- Working capital / revenue, final three-year average: 8.6%

Chart: Annual owner cash / profit; fiscal year observations.

- FY2021: 1.00×

- FY2022: 0.99×

- FY2023: 1.00×

- FY2024: 1.01×

- FY2025: 1.03×

### management: pass

- Historical market-dollar context (not the management verdict): 2016 to 2025 (9 years)

- potential debt-funded buybacks (informational)

- buybacks leaned toward cheaper years (informational)

- ROIC first 3 years vs last 3 years: 94.5% vs 58.2%

- Per-share earnings: 2.28 to 2.77 (three-year endpoint medians)

- Management verdict uses per-share economic progress: Yes

- Ordinary dilution, 10-year annual growth: -1.1%

- Ordinary dilution, 5-year annual growth: -1.1%

- Market cap gain: $5.5B

- Cumulative retained earnings: $6.7B

- Diluted shares, 10-year annual growth: -1.1%

- Diluted shares, 5-year annual growth: -1.1%

- $1 test, starting fiscal year: FY2016

- $1 test, ending fiscal year: FY2025

- Per-share value growth: 2.5%

- Per-share value change: $0.49

- Per-share value, starting three-year median: $2.28

- Per-share value, ending three-year median: $2.77

- Buybacks concentrated in cheaper years (correlation): 0.68

- Average buyback yield: 2.1%

- Buyback history: 10 years

- Debt-funded buybacks: Yes

- Acquisition spending: $3.3B

- Cumulative net income, 10 years: $23B

- ROIC, first three-year median: 94.5%

- ROIC, last three-year median: 58.2%

Chart: Earnings per share; fiscal year observations.

- FY2016: $2.72

- FY2017: $2.28

- FY2018: $2.75

- FY2019: $2.75

- FY2020: $3.14

- FY2021: $2.55

- FY2022: $2.13

- FY2023: $2.77

- FY2024: $3.51

- FY2025: $2.63

### accounting: pass

- Sloan accruals: -12.7%

- Receivables to sales index (DSRI): 1.09×

- Restructuring years, last five: 1

- Stock compensation / operating cash flow: 3.7%

- Earnings backed by cash: Yes

- Operating cash / earnings: 1.97×

- Accounting red flags: 0

- Goodwill and intangibles / equity: 86.26×

Chart: Sloan accruals; fiscal year observations.

- FY2016: -5.8%

- FY2017: -8.1%

- FY2018: -5.4%

- FY2019: -5.1%

- FY2020: -6.4%

- FY2021: -7.7%

- FY2022: -4.9%

- FY2023: -8.8%

- FY2024: -7.6%

- FY2025: -12.7%

## Holders

- [David Hoeft](https://gigainvestors.com/DAC): tracked 13F investor; follow the investor page for holding quarter and amounts.

- [Matthew McLennan](https://gigainvestors.com/FE): tracked 13F investor; follow the investor page for holding quarter and amounts.

- [Allen Bond](https://gigainvestors.com/JIM): tracked 13F investor; follow the investor page for holding quarter and amounts.

- [David Katz](https://gigainvestors.com/MAVFX): tracked 13F investor; follow the investor page for holding quarter and amounts.

- [Donald Yacktman](https://gigainvestors.com/YAM): tracked 13F investor; follow the investor page for holding quarter and amounts.

## Price story

Price needs cash profits to grow 11.7% a year for ten years · sales +1.4%

Story as of 2026-10-16T09:58:30.621Z; price observation 2026-10-15.

Price needs cash profits to grow 11.7% a year for ten years

- 2025-10-31: Colgate-Palmolive lowers full-year sales outlook, Q3 earnings top estimates ([finance.yahoo.com](https://finance.yahoo.com/news/colgate-palmolive-lowers-full-sales-114930726.html))

- 2025-11-01: Colgate-Palmolive (CL): Margin Expansion Strengthens Case for Undervaluation Versus Community Narrative ([finance.yahoo.com](https://finance.yahoo.com/news/colgate-palmolive-cl-margin-expansion-042623348.html))

- 2026-01-30: Colgate Q4 Earnings Top Estimates, Strong Pricing Drives Results ([finance.yahoo.com](https://finance.yahoo.com/news/colgate-q4-earnings-top-estimates-171700139.html))

- 2026-02-27: BofA Lifts Colgate-Palmolive (CL) Outlook as Company Begins Execution of 2030 Strategic Plan ([finance.yahoo.com](https://finance.yahoo.com/news/bofa-lifts-colgate-palmolive-cl-145528630.html))

- 2026-03-31: Analyst cuts Colgate-Palmolive on rising input costs, slower earnings growth ([finance.yahoo.com](https://finance.yahoo.com/markets/stocks/articles/analyst-cuts-colgate-palmolive-rising-153145143.html))

- 2026-05-01: Colgate-Palmolive Sales Beat As Volume Growth Hits 13 Times Expectations ([finance.yahoo.com](https://finance.yahoo.com/markets/stocks/articles/colgate-palmolive-sales-beat-volume-202732726.html))

### Sales · FY2024–2025

sales +1.4%; source https://www.sec.gov/Archives/edgar/data/21665/000002166526000006/cl-20251231.htm; observed 2026-02-23.

- FY2016: $15B 

- FY2017: $15B 

- FY2018: $16B 

- FY2019: $16B 

- FY2020: $16B 

- FY2021: $17B 

- FY2022: $18B 

- FY2023: $19B 

- FY2024: $20B 

- FY2025: $20B 

### Gross margin · FY2025

gross margin 60.1%; source https://www.sec.gov/Archives/edgar/data/21665/000002166526000006/cl-20251231.htm; observed 2026-02-23.

- FY2016: 60.1% 

- FY2017: 60.3% 

- FY2018: 59.2% 

- FY2019: 59.1% 

- FY2020: 60.3% 

- FY2021: 59.1% 

- FY2022: 56.5% 

- FY2023: 57.8% 

- FY2024: 60.2% 

- FY2025: 60.1% 

## Owner memo

Memo as of 2026-10-16T08:06:05.509Z.

### How it makes money

Operates in household & personal products; annual sales are USD 20.4 billion.

- Source: https://www.sec.gov/Archives/edgar/data/21665/000002166526000006/cl-20251231.htm (filed 2026-02-23); FY2025: revenue 20382000000; grossProfit 12251000000; margin = grossProfit / revenue.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-10-16); CL.US: Colgate-Palmolive Company, together with its subsidiaries, manufactures and sells consumer products in the United States and internationally. It operates through two segments: Oral, Personal and Home Care; and Pet Nutrition. The Oral, Personal and Home Care segment offers toothpaste, toothbrushes, mouthwash, bar and liquid hand soaps, shower gels, shampoos, conditioners, deodorants and antiperspirants, skin health products, dishwashing detergents, fabric conditioners, household cleaners, and other related items. This segment markets and sells its products under the Colgate, Palmolive, Darlie, elmex, hello, meridol, Sorriso, Tom's of Maine, EltaMD, Filorga, Irish Spring, Lady Speed Stick, PCA SKIN, Protex, Sanex, Softsoap, Speed Stick, Ajax, Axion, Fabuloso, Murphy, Soupline, and Suavitel brands to a range of traditional and eCommerce retailers, wholesalers, and distributors, as well as dentists and skin health professionals. It also offers pharmaceutical products for dentists and other oral health professionals. The Pet Nutrition segment offers pet nutrition products for everyday nutritional needs under the Hill's Science Diet brand; and a range of therapeutic pet products to help nutritionally support dogs and cats in different stages of health under the Hill's Prescription Diet brand; and a fresh pet food sold to pet specialty and other retailers in Australia under Prime100 brand. This segment markets and sells its products through pet supply retailers, veterinarians, and eCommerce retailers. Colgate-Palmolive Company was founded in 1806 and is headquartered in New York, New York.

### Why customers stay

Margins ranged from 57.8% to 60.2% during 2023–25; it earns 77.7% on its capital.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-02-23); FY2023: grossProfit / revenue = 57.8%.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-02-23); FY2024: grossProfit / revenue = 60.2%.

- Source: https://www.sec.gov/Archives/edgar/data/21665/000002166526000006/cl-20251231.htm (filed 2026-02-23); FY2025: grossProfit / revenue = 60.1%.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-02-23); 10-year return on capital observations [[2016,0.9552240810761803],[2017,0.9427821997105644],[2018,0.9451604804432214],[2019,0.264066321366031],[2020,0.8137517739386505],[2021,0.7496531640334857],[2022,0.478090740828627],[2023,0.5644440182410121],[2024,0.8050764679346982],[2025,0.5820784224371853]]; median 0.777364815984092. ROIC follows the displayed moat series; financial companies use return on tangible equity.

### Can it raise prices

Prices rose 2.1%; sales volumes fell.

- Source: https://www.sec.gov/Archives/edgar/data/21665/000002166526000006/cl-20251231.htm (filed 2026-02-23); [p0] so impacted and may continue to impact consumer sentiment, consumption, discretionary spending and/or purchasing patterns. In addition, they have impacted and may continue to impact the cost and/or availability of raw and packaging materials and the price of our products. While we have made and will continue to make efforts to mitigate the impact of these and any additional tariffs imposed by the United States and/or other countries or shifts in trade agreements, they or our mitigating actions could have a material effect on our business, results of operations, cash flows and financial condition. For additional information, see “Outlook” below. 25 (Dollars in Millions Except Per Share Amounts) The War in Ukraine The war in Ukraine, and the related geopolitical tensions have had and continue to have a significant impact on our operations in Ukraine and Russia, though it has not been material to our Consolidated Financial Statements. We have no manufacturing facilities in Russia. For the year ended December 31, 2025, our business in the Eurasia region constituted approximately 1% of our consolidated net sales and approximately 2% of our consolidated operating profit. We have experienced, and expect to continue to experience, risks related to the impact of the war in Ukraine, including increases in the costs and, in certain cases, limitations on the availability of certain raw and packaging materials and commodities (including oil and natural gas), supply chain and logistics challenges, import restrictions, foreign currency volatility and reputational concerns. We also have faced and continue to face challenges to our ability to repatriate cash from Russia and identify financial institutions and services to support our Russian operations and we may face challenges to our ability to protect our assets in Russia. We also co

[p1] f Financial Condition and Results of Operations” in Part II, Item 7 of the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2024. Net Sales Worldwide Net sales were $20,382 in 2025, up 1.4% from 2024, driven by net selling price increases of 2.1%, partially offset by volume declines of 0.4% and negative foreign exchange of 0.3%. The Prime100 acquisition contributed 0.3% to volume. Organic sales (Net sales excluding the impact of foreign exchange, acquisitions and divestments), a non-GAAP financial measure, increased 1.4% in 2025. A reconciliation of Net sales growth to organic sales growth is provided under “Non-GAAP Financial Measures” below. Net sales in the Oral, Personal and Home Care product segment were $15,769 in 2025, up 1.0% from 2024, driven by net selling price increases of 1.8%, partially offset by negative foreign exchange of 0.5% and volume declines of 0.3%. Organic sales in the Oral, Personal and Home Care product segment increased 1.5% in 2025. The increase in organic sales in 2025 versus 2024 was due to an increase in Oral Care organic sales. The increase in Oral Care was primarily due to organic sales growth in the toothpaste and manual toothbrush categories. The Company’s share of the global toothpaste market was 41.3% for the full year 2025, down 0.4 share points from full year 2024, and its share of the global manual toothbrush market was 32.4% for the full year 2025, up 0.4 share points versus full year 2024. Full year 2025 market shares in toothpaste were up in Europe, flat in Asia Pacific and down in North America, Latin America and Africa/Eurasia versus full year 2024. In the manual toothbrush category, full year 2025 market shares were up in North America and Asia Pacific, flat in Europe and down in Latin America and Africa/Eurasia versus full year 2024. For addition

[p2] in 2025. A reconciliation of Net sales growth to organic sales growth is provided under “Non-GAAP Financial Measures” below. Net sales in the Oral, Personal and Home Care product segment were $15,769 in 2025, up 1.0% from 2024, driven by net selling price increases of 1.8%, partially offset by negative foreign exchange of 0.5% and volume declines of 0.3%. Organic sales in the Oral, Personal and Home Care product segment increased 1.5% in 2025. The increase in organic sales in 2025 versus 2024 was due to an increase in Oral Care organic sales. The increase in Oral Care was primarily due to organic sales growth in the toothpaste and manual toothbrush categories. The Company’s share of the global toothpaste market was 41.3% for the full year 2025, down 0.4 share points from full year 2024, and its share of the global manual toothbrush market was 32.4% for the full year 2025, up 0.4 share points versus full year 2024. Full year 2025 market shares in toothpaste were up in Europe, flat in Asia Pacific and down in North America, Latin America and Africa/Eurasia versus full year 2024. In the manual toothbrush category, full year 2025 market shares were up in North America and Asia Pacific, flat in Europe and down in Latin America and Africa/Eurasia versus full year 2024. For additional information regarding the Company’s use of market share data and limitations of such data, see “Market Share Information” below. Net sales in the Hill’s Pet Nutrition segment were $4,613 in 2025, up 2.9% from 2024, driven by net selling price increases of 3.0% and positive foreign exchange of 0.5%, partially offset by volume declines of 0.6%. The Prime100 acquisition contributed 1.1% to volume. Organic sales in the Hill’s Pet Nutrition segment increased 1.2% in 2025 despite a negative impact from lower private label sales (320 bps). 29 (Dollars 

[p3] r additional information regarding the Company’s use of market share data and limitations of such data, see “Market Share Information” below. Net sales in the Hill’s Pet Nutrition segment were $4,613 in 2025, up 2.9% from 2024, driven by net selling price increases of 3.0% and positive foreign exchange of 0.5%, partially offset by volume declines of 0.6%. The Prime100 acquisition contributed 1.1% to volume. Organic sales in the Hill’s Pet Nutrition segment increased 1.2% in 2025 despite a negative impact from lower private label sales (320 bps). 29 (Dollars in Millions Except Per Share Amounts) Gross Profit/Margin Worldwide Gross profit increased 1% to $12,251 in 2025 from $12,161 in 2024. Worldwide Gross profit in 2024 included charges resulting from the 2022 Global Productivity Initiative. Excluding these charges, Worldwide Gross profit increased to $12,251 in 2025 compared to $12,181 in 2024, reflecting an increase of $170 resulting from higher Net sales, partially offset by lower Gross profit margin of $100. Worldwide Gross profit margin decreased to 60.1% in 2025 from 60.5% in 2024. Excluding charges resulting from the 2022 Global Productivity Initiative in 2024, Gross profit margin decreased to 60.1% in 2025 from 60.6% in 2024. This decrease in Gross profit margin was due to significantly higher raw and packaging material costs (420 bps), partially offset by cost savings from the Company’s funding-the-growth initiatives (260 bps), higher pricing (80 bps) and favorable mix (30 bps). 2025 2024 Gross profit, GAAP $ 12,251 $ 12,161 Restructuring programs(1) — 20 Gross profit, non-GAAP $ 12,251 $ 12,181 2025 2024 Basis Point Change Gross profit margin, GAAP 60.1 % 60.5 % (40) Restructuring programs — % 0.1 % Gross profit margin, non-GAAP 60.1 % 60.6 % (50) (1) The charges resulting from the Restructuring programs rela

[p4] o 60.1% in 2025 from 60.6% in 2024. This decrease in Gross profit margin was due to significantly higher raw and packaging material costs (420 bps), partially offset by cost savings from the Company’s funding-the-growth initiatives (260 bps), higher pricing (80 bps) and favorable mix (30 bps). 2025 2024 Gross profit, GAAP $ 12,251 $ 12,161 Restructuring programs(1) — 20 Gross profit, non-GAAP $ 12,251 $ 12,181 2025 2024 Basis Point Change Gross profit margin, GAAP 60.1 % 60.5 % (40) Restructuring programs — % 0.1 % Gross profit margin, non-GAAP 60.1 % 60.6 % (50) (1) The charges resulting from the Restructuring programs relate to the Strategic Growth and Productivity Program in 2025 and the 2022 Global Productivity Initiative in 2024. 30 (Dollars in Millions Except Per Share Amounts) Selling, General and Administrative Expenses 

[p5] olidated Balance Sheets were $82 and $81, respectively. Unrelated third parties hold the remaining ownership interests in these investments. Investments with less than a 20% interest are recorded at cost and periodically adjusted based on observable price changes or quoted market prices in active markets, if applicable. Use of Estimates The preparation of financial statements in accordance with accounting principles generally accepted in the United States of America requires management to use judgment and make estimates that affect the reported amounts of assets and liabilities and disclosure of contingent gains and losses at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. The level of uncertainty in estimates and assumptions increases with the length of time until the underlying transactions are completed. As such, the most significant uncertainty in the Company’s assumptions and estimates involved in preparing the financial statements includes pension and other retiree benefit cost assumptions, stock-based compensation, asset impairments, uncertain tax positions, tax valuation allowances and legal and other contingency reserves. Additionally, the Company uses available market information and other valuation methodologies in assessing the fair value of financial instruments and retirement plan assets. Judgment is required in interpreting market data to develop the estimates of fair value and, accordingly, changes in assumptions or the estimation methodologies may affect the fair value estimates. Actual results could ultimately differ from those estimates. Revenue Recognition The Company’s revenue contracts represent a single performance obligation to sell its products to trade customers. Sales are recorded at the time control of the products is transf

[p6] 2 and $81, respectively. Unrelated third parties hold the remaining ownership interests in these investments. Investments with less than a 20% interest are recorded at cost and periodically adjusted based on observable price changes or quoted market prices in active markets, if applicable. Use of Estimates The preparation of financial statements in accordance with accounting principles generally accepted in the United States of America requires management to use judgment and make estimates that affect the reported amounts of assets and liabilities and disclosure of contingent gains and losses at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. The level of uncertainty in estimates and assumptions increases with the length of time until the underlying transactions are completed. As such, the most significant uncertainty in the Company’s assumptions and estimates involved in preparing the financial statements includes pension and other retiree benefit cost assumptions, stock-based compensation, asset impairments, uncertain tax positions, tax valuation allowances and legal and other contingency reserves. Additionally, the Company uses available market information and other valuation methodologies in assessing the fair value of financial instruments and retirement plan assets. Judgment is required in interpreting market data to develop the estimates of fair value and, accordingly, changes in assumptions or the estimation methodologies may affect the fair value estimates. Actual results could ultimately differ from those estimates. Revenue Recognition The Company’s revenue contracts represent a single performance obligation to sell its products to trade customers. Sales are recorded at the time control of the products is transferred to trade customers, in an

[p7] sible sourcing), which can require additional investment and/or take a significant period of time. Raw and packaging material commodities, such as resins, essential oils, tropical oils, pulp, tallow, corn, poultry and soybeans, are subject to market price variations. For further information regarding the impact of changes in commodity prices, see Item 1 r represented more than 10% of our Net sales in 2025. We support our products with advertising, promotion and other marketing (with increasing emphasis on digital) to build awareness and trial of our products. Our products are marketed by a direct sales force at individual operating subsidiaries or business units and by distributors or brokers. The majority of raw and packaging materials used in our products is purchased from other companies and is available from several sources. No single raw or packaging material represents, and no single supplier provides, a significant portion of our total material requirements. We do, however, purchase certain key raw and packaging materials from single-source suppliers or a limited number of suppliers. For certain materials, new suppliers may have to be qualified under industry, governmental and/or Colgate-Palmolive standards (including those relating to responsible sourcing), which can require additional investment and/or take a significant period of time. Raw and packaging material commodities, such as resins, essential oils, tropical oils, pulp, tallow, corn, poultry and soybeans, are subject to market price variations. For further information regarding the impact of changes in commodity prices, see Item 1A, “Risk Factors - Volatility in material and other costs has in the past and may continue to adversely impact our profitability” a more than 10% of our Net sales in 2025. We support our products with advertising, promotion an

[p8] od of time. Raw and packaging material commodities, such as resins, essential oils, tropical oils, pulp, tallow, corn, poultry and soybeans, are subject to market price variations. For further information regarding the impact of changes in commodity prices, see Item 1 r represented more than 10% of our Net sales in 2025. We support our products with advertising, promotion and other marketing (with increasing emphasis on digital) to build awareness and trial of our products. Our products are marketed by a direct sales force at individual operating subsidiaries or business units and by distributors or brokers. The majority of raw and packaging materials used in our products is purchased from other companies and is available from several sources. No single raw or packaging material represents, and no single supplier provides, a significant portion of our total material requirements. We do, however, purchase certain key raw and packaging materials from single-source suppliers or a limited number of suppliers. For certain materials, new suppliers may have to be qualified under industry, governmental and/or Colgate-Palmolive standards (including those relating to responsible sourcing), which can require additional investment and/or take a significant period of time. Raw and packaging material commodities, such as resins, essential oils, tropical oils, pulp, tallow, corn, poultry and soybeans, are subject to market price variations. For further information regarding the impact of changes in commodity prices, see Item 1A, “Risk Factors - Volatility in material and other costs has in the past and may continue to adversely impact our profitability” a more than 10% of our Net sales in 2025. We support our products with advertising, promotion and other marketing (with increasing emphasis on digital) to build awareness and trial of

### Where the cash goes

Paid dividends in 10 of 10 years; bought back USD 1.2 billion of shares.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-02-23); FY2016: growth capex 0; upkeep 593000000; owner earnings 2299410672.8538284. Growth capex / owner earnings = 0.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-02-23); FY2017: growth capex 63376841.439160585; upkeep 489623158.5608394; owner earnings 2010385799.0215552. Growth capex / owner earnings = 0.031524716037093864.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-02-23); FY2018: growth capex 0; upkeep 436000000; owner earnings 2470367474.589523. Growth capex / owner earnings = 0.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-02-23); FY2019: growth capex 0; upkeep 335000000; owner earnings 2539349821.923229. Growth capex / owner earnings = 0.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-02-23); FY2020: growth capex 0; upkeep 410000000; owner earnings 2816557692.3076925. Growth capex / owner earnings = 0.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-02-23); FY2021: growth capex 11000000; upkeep 556000000; owner earnings 2166000000. Growth capex / owner earnings = 0.0050784856879039705.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-02-23); FY2022: growth capex 127553647.1073885; upkeep 568446352.8926115; owner earnings 1763723060.542292. Growth capex / owner earnings = 0.07232067775321233.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-02-23); FY2023: growth capex 138000000; upkeep 567000000; owner earnings 2300000000. Growth capex / owner earnings = 0.06.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-02-23); FY2024: growth capex 0; upkeep 561000000; owner earnings 2930691046.2446704. Growth capex / owner earnings = 0.

- Source: https://www.sec.gov/Archives/edgar/data/21665/000002166526000006/cl-20251231.htm (filed 2026-02-23); FY2025: growth capex 0; upkeep 564000000; owner earnings 2194234409.553295. Growth capex / owner earnings = 0.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-02-23); Dividend observations: [[2016,1508000000],[2017,1529000000],[2018,1591000000],[2019,1614000000],[2020,1654000000],[2021,1679000000],[2022,1691000000],[2023,1749000000],[2024,1789000000],[2025,1823000000]]. Zero only counted when supported by a complete cash-flow statement.

- Source: https://www.sec.gov/Archives/edgar/data/21665/000002166526000006/cl-20251231.htm (filed 2026-02-23); FY2025: cash repurchases 1210000000 USD.

### Are managers owners

Insiders own 0.1% of the company.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-10-16); CL.US SharesStats.PercentInsiders = 0.15 percentage points; cache date 2026-10-16.

### What could break it

"We face risks associated with significant international operations, including exposure to foreign currency fluctuations." (SEC filing, Feb 2026)

- Source: https://www.sec.gov/Archives/edgar/data/21665/000002166526000006/cl-20251231.htm (filed 2026-02-23); We face risks associated with significant international operations, including exposure to foreign currency fluctuations.

### What the price says

The price assumes cash profits grow 11.7% yearly over ten years; actual growth was 8%.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-02-23); Ten-year compound average after fade. Initial solved rate 0.15577826394717342. Price 92.67; FX 1; discount 0.1; same standard ten-year fade to terminal 0.03. FY2015 owner earnings/share 1.2553589095306146 → FY2025 2.705257563251504. Closing-price date 2026-10-15.

## Monthly share-price history (USD per share)

- 2016-10: $71.36 per share

- 2016-11: $65.23 per share

- 2016-12: $65.44 per share

- 2017-01: $64.58 per share

- 2017-02: $72.98 per share

- 2017-03: $73.19 per share

- 2017-04: $72.04 per share

- 2017-05: $76.36 per share

- 2017-06: $74.13 per share

- 2017-07: $72.20 per share

- 2017-08: $71.64 per share

- 2017-09: $72.85 per share

- 2017-10: $70.45 per share

- 2017-11: $72.45 per share

- 2017-12: $75.45 per share

- 2018-01: $74.24 per share

- 2018-02: $68.97 per share

- 2018-03: $71.68 per share

- 2018-04: $65.23 per share

- 2018-05: $63.09 per share

- 2018-06: $64.81 per share

- 2018-07: $67.01 per share

- 2018-08: $66.41 per share

- 2018-09: $66.95 per share

- 2018-10: $59.55 per share

- 2018-11: $63.52 per share

- 2018-12: $59.52 per share

- 2019-01: $64.68 per share

- 2019-02: $65.87 per share

- 2019-03: $68.54 per share

- 2019-04: $72.79 per share

- 2019-05: $69.62 per share

- 2019-06: $71.67 per share

- 2019-07: $71.74 per share

- 2019-08: $74.15 per share

- 2019-09: $73.51 per share

- 2019-10: $68.60 per share

- 2019-11: $67.82 per share

- 2019-12: $68.84 per share

- 2020-01: $73.78 per share

- 2020-02: $67.57 per share

- 2020-03: $66.36 per share

- 2020-04: $70.27 per share

- 2020-05: $72.33 per share

- 2020-06: $73.26 per share

- 2020-07: $77.20 per share

- 2020-08: $79.26 per share

- 2020-09: $77.15 per share

- 2020-10: $78.89 per share

- 2020-11: $85.64 per share

- 2020-12: $85.51 per share

- 2021-01: $78.00 per share

- 2021-02: $75.20 per share

- 2021-03: $78.83 per share

- 2021-04: $80.70 per share

- 2021-05: $83.78 per share

- 2021-06: $81.35 per share

- 2021-07: $79.50 per share

- 2021-08: $77.95 per share

- 2021-09: $75.58 per share

- 2021-10: $76.19 per share

- 2021-11: $75.02 per share

- 2021-12: $85.34 per share

- 2022-01: $82.45 per share

- 2022-02: $76.95 per share

- 2022-03: $75.83 per share

- 2022-04: $77.05 per share

- 2022-05: $78.81 per share

- 2022-06: $80.14 per share

- 2022-07: $78.74 per share

- 2022-08: $78.21 per share

- 2022-09: $70.25 per share

- 2022-10: $73.84 per share

- 2022-11: $77.48 per share

- 2022-12: $78.79 per share

- 2023-01: $74.53 per share

- 2023-02: $73.30 per share

- 2023-03: $75.15 per share

- 2023-04: $79.80 per share

- 2023-05: $74.38 per share

- 2023-06: $77.04 per share

- 2023-07: $76.26 per share

- 2023-08: $73.47 per share

- 2023-09: $71.11 per share

- 2023-10: $75.12 per share

- 2023-11: $78.77 per share

- 2023-12: $79.71 per share

- 2024-01: $84.20 per share

- 2024-02: $86.52 per share

- 2024-03: $90.05 per share

- 2024-04: $91.92 per share

- 2024-05: $92.96 per share

- 2024-06: $97.04 per share

- 2024-07: $99.19 per share

- 2024-08: $106.50 per share

- 2024-09: $103.81 per share

- 2024-10: $93.71 per share

- 2024-11: $96.63 per share

- 2024-12: $90.91 per share

- 2025-01: $86.70 per share

- 2025-02: $91.17 per share

- 2025-03: $93.70 per share

- 2025-04: $92.19 per share

- 2025-05: $92.94 per share

- 2025-06: $90.90 per share

- 2025-07: $83.85 per share

- 2025-08: $84.07 per share

- 2025-09: $79.94 per share

- 2025-10: $77.05 per share

- 2025-11: $80.39 per share

- 2025-12: $79.02 per share

- 2026-01: $90.29 per share

- 2026-02: $99.14 per share

- 2026-03: $85.23 per share

- 2026-04: $85.36 per share

- 2026-05: $90.13 per share

- 2026-06: $91.68 per share

- 2026-07: $91.30 per share

- 2026-08: $89.82 per share

- 2026-09: $85.32 per share

- 2026-10: $89.95 per share

## Annual estimated value (USD per share)

- FY2016: low $24.16 per share, central $27.39 per share, high $31.70 per share

- FY2017: low $25.06 per share, central $28.39 per share, high $32.81 per share

- FY2018: low $26.86 per share, central $30.55 per share, high $35.47 per share

- FY2019: low $33.83 per share, central $40.69 per share, high $47.35 per share

- FY2020: low $37.86 per share, central $46.25 per share, high $53.88 per share

- FY2021: low $37.74 per share, central $42.95 per share, high $49.88 per share

- FY2022: low $37.66 per share, central $42.79 per share, high $49.62 per share

- FY2023: low $34.00 per share, central $38.76 per share, high $44.99 per share

- FY2024: low $38.25 per share, central $46.84 per share, high $54.51 per share

- FY2025: low $33.49 per share, central $37.97 per share, high $43.93 per share

Historical values use today's bond yield for every fiscal year

Historical values use today's FX rate into trading currency for every fiscal year

Historical values use current restated fundamentals and current commodity classification; they are not point-in-time estimates

Prior published observations retained from 2026-10-15T06:33:07.338Z where newer inputs omit a numeric field or fiscal period.

## Sources

[Original 10-K filing](https://www.sec.gov/Archives/edgar/data/21665/000002166526000006/cl-20251231.htm); period 2025-12-31, filed 2026-02-23.

Estimates depend on assumptions and are not guarantees or investment advice. Underlying data remains subject to its source licenses; public reading does not grant bulk redistribution rights.

## Reported holder observations

- [David Hoeft](https://gigainvestors.com/DAC): 14,000 CL shares; USD 1,284,000 reported position value; 0% of portfolio; hold; quarter 2026 Q2.
- [Matthew McLennan](https://gigainvestors.com/FE): 8,205,699 CL shares; USD 752,299,000 reported position value; 1.24% of portfolio; add; quarter 2026 Q2.
- [Allen Bond](https://gigainvestors.com/JIM): 115,229 CL shares; USD 10,564,000 reported position value; 0.26% of portfolio; reduce; quarter 2026 Q2.
- [Donald Yacktman](https://gigainvestors.com/YAM): 790,900 CL shares; USD 72,510,000 reported position value; 0.9% of portfolio; add; quarter 2026 Q2.

# CL — Colgate-Palmolive

Held by 5 investors · USD 836,875,000 total · 2026 Q2 · reported price USD 91.68 (split-adjusted).
Page: https://gigainvestors.com/s/CL

## Holders (2026 Q2)

| Investor | Value | % of their portfolio | This quarter |
|---|---:|---:|---|
| Matthew McLennan (https://gigainvestors.com/FE) | USD 752,299,000 | 1.2% | add +1.1% |
| Donald Yacktman (https://gigainvestors.com/YAM) | USD 72,510,000 | 0.9% | add +0.19% |
| Allen Bond (https://gigainvestors.com/JIM) | USD 10,564,000 | 0.3% | reduce -2.88% |
| David Hoeft (https://gigainvestors.com/DAC) | USD 1,284,000 | 0.0% | hold |
| Nick Train (https://gigainvestors.com/LT) | USD 852,000 | 0.0% | sold |
| David Katz (https://gigainvestors.com/MAVFX) | USD 218,000 | <0.1% | hold |

## Total held by quarter

- 2018 Q2: USD 232,451,370 · 1 holder · USD 64.81
- 2018 Q3: USD 346,693,813 · 2 holders · USD 66.95
- 2018 Q4: USD 230,401,455 · 3 holders · USD 59.52
- 2019 Q1: USD 94,596,098 · 2 holders · USD 68.54
- 2019 Q2: USD 98,170,628 · 2 holders · USD 71.67
- 2019 Q3: USD 1,034,927,442 · 3 holders · USD 73.51
- 2019 Q4: USD 958,499,660 · 3 holders · USD 68.84
- 2020 Q1: USD 918,929,059 · 3 holders · USD 66.36
- 2020 Q2: USD 1,014,068,707 · 4 holders · USD 73.26
- 2020 Q3: USD 1,089,865,289 · 6 holders · USD 77.15
- 2020 Q4: USD 1,154,116,128 · 6 holders · USD 85.51
- 2021 Q1: USD 1,063,802,983 · 6 holders · USD 78.83
- 2021 Q2: USD 1,091,497,949 · 6 holders · USD 81.35
- 2021 Q3: USD 998,924,207 · 6 holders · USD 75.58
- 2021 Q4: USD 1,121,931,028 · 6 holders · USD 85.34
- 2022 Q1: USD 963,886,050 · 5 holders · USD 75.83
- 2022 Q2: USD 1,172,385,756 · 6 holders · USD 80.14
- 2022 Q3: USD 1,666,834,889 · 5 holders · USD 70.25
- 2022 Q4: USD 1,891,349,863 · 6 holders · USD 78.79
- 2023 Q1: USD 1,770,760,707 · 5 holders · USD 75.15
- 2023 Q2: USD 964,520,239 · 5 holders · USD 77.04
- 2023 Q3: USD 884,379,948 · 4 holders · USD 71.11
- 2023 Q4: USD 988,261,995 · 5 holders · USD 79.71
- 2024 Q1: USD 1,070,295,970 · 6 holders · USD 90.05
- 2024 Q2: USD 1,004,105,196 · 6 holders · USD 97.04
- 2024 Q3: USD 1,020,912,794 · 6 holders · USD 103.81
- 2024 Q4: USD 877,899,221 · 6 holders · USD 90.91
- 2025 Q1: USD 904,813,097 · 6 holders · USD 93.70
- 2025 Q2: USD 800,167,045 · 6 holders · USD 90.93
- 2025 Q3: USD 706,412,863 · 5 holders · USD 79.94
- 2025 Q4: USD 699,628,316 · 5 holders · USD 79.02
- 2026 Q1: USD 771,433,527 · 6 holders · USD 85.23
- 2026 Q2: USD 836,875,000 · 5 holders · USD 91.68
- 2026 Q3: USD 0 · 0 holders