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PepsiCo (PEP) Financials

PepsiCo logo
$143.92 +3.12 (+2.22%)
Closing price 08/7/2025 04:00 PM Eastern
Extended Trading
$143.99 +0.07 (+0.05%)
As of 06:01 AM Eastern
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Annual Income Statements for PepsiCo

Annual Income Statements for PepsiCo

This table shows PepsiCo's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
Period end date 12/27/2014 12/26/2015 12/31/2016 12/30/2017 12/29/2018 12/28/2019 12/26/2020 12/25/2021 12/31/2022 12/30/2023 12/28/2024
Net Income / (Loss) Attributable to Common Shareholders		 6,513 5,452 6,329 4,857 12,515 7,314 7,120 7,618 8,910 9,074 9,578
Consolidated Net Income / (Loss)		 6,558 5,501 6,379 4,908 12,559 7,353 7,175 7,679 8,978 9,155 9,626
Net Income / (Loss) Continuing Operations		 6,558 5,501 6,379 4,908 12,559 7,353 7,175 7,679 8,978 9,155 9,626
Total Pre-Tax Income 		8,757 7,442 8,553 9,602 9,189 9,312 9,069 9,821 10,705 11,417 11,946
Total Operating Income		 9,581 8,353 9,804 10,276 10,110 10,291 10,080 11,162 11,512 11,986 12,887
Total Gross Profit		 35,445 34,325 34,577 34,729 35,280 37,029 38,575 42,399 45,816 49,590 50,110
Total Revenue		 66,683 63,056 62,799 63,525 64,661 67,161 70,372 79,474 86,392 91,471 91,854
Operating Revenue		 66,683 63,056 62,799 63,525 64,661 67,161 70,372 79,474 86,392 91,471 91,854
Total Cost of Revenue		 31,238 28,731 28,222 28,796 29,381 30,132 31,797 37,075 40,576 41,881 41,744
Operating Cost of Revenue		 31,238 28,731 28,222 28,796 29,381 30,132 31,797 37,075 40,576 41,881 41,744
Total Operating Expenses		 25,864 25,972 24,773 24,453 25,170 26,738 28,495 31,237 34,304 37,604 37,223
Selling, General & Admin Expense		 25,772 24,613 24,773 24,453 25,170 26,738 28,453 31,237 34,459 36,677 37,190
Other Operating Expenses / (Income)		 - - - - - - 0.00 0.00 -3,321 0.00 0.00
Impairment Charge		 0.00 1,359 - - - - 42 0.00 3,166 927 33
Total Other Income / (Expense), net		 -824 -911 -1,251 -674 -921 -979 -1,011 -1,341 -807 -569 -941
Interest Expense		 909 970 1,342 1,151 1,219 935 1,128 1,863 939 819 919
Other Income / (Expense), net		 - - -19 477 298 -44 - 522 132 - -22
Income Tax Expense		 2,199 1,941 2,174 4,694 -3,370 1,959 1,894 2,142 1,727 2,262 2,320
Net Income / (Loss) Attributable to Noncontrolling Interest		 45 49 50 51 44 39 55 61 68 81 48
Basic Earnings per Share		 $4.31 $3.71 $4.39 $3.40 $8.84 $5.23 $5.14 $5.51 $6.45 $6.59 $6.97
Weighted Average Basic Shares Outstanding		 1.51B 1.47B 1.44B 1.43B 1.42B 1.40B 1.39B 1.38B 1.38B 1.38B 1.37B
Diluted Earnings per Share		 $4.27 $3.67 $4.36 $3.38 $8.78 $5.20 $5.12 $5.49 $6.42 $6.56 $6.95
Weighted Average Diluted Shares Outstanding		 1.53B 1.49B 1.45B 1.44B 1.43B 1.41B 1.39B 1.39B 1.39B 1.38B 1.38B
Weighted Average Basic & Diluted Shares Outstanding		 1.48B 1.45B 1.43B 1.43B 1.42B 1.39B 1.38B 1.38B 1.38B 1.37B 1.37B
Cash Dividends to Common per Share		 $2.53 $2.76 $2.96 $3.17 $3.59 $3.79 $4.02 $4.25 $4.53 $4.95 $5.33

Quarterly Income Statements for PepsiCo

This table shows PepsiCo's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025
Period end date 12/31/2022 3/25/2023 6/17/2023 9/9/2023 12/30/2023 3/23/2024 6/15/2024 9/7/2024 12/28/2024 3/22/2025 6/14/2025
Net Income / (Loss) Attributable to Common Shareholders		 518 1,932 2,748 3,092 1,302 2,042 3,083 2,930 1,523 1,834 1,263
Consolidated Net Income / (Loss)		 535 1,944 2,771 3,116 1,324 2,053 3,094 2,945 1,534 1,843 1,279
Net Income / (Loss) Continuing Operations		 535 1,944 2,771 3,116 1,324 2,053 3,094 2,945 1,534 1,843 1,279
Total Pre-Tax Income 		506 2,490 3,518 3,876 1,533 2,573 3,870 3,694 1,809 2,342 1,571
Total Operating Income		 815 2,629 3,659 4,015 1,683 2,717 4,048 3,872 2,250 2,583 1,789
Total Gross Profit		 14,576 9,858 12,201 12,778 14,753 10,002 12,582 12,923 14,603 9,993 12,422
Total Revenue		 27,996 17,846 22,322 23,453 27,850 18,250 22,501 23,319 27,784 17,919 22,726
Operating Revenue		 27,996 17,846 22,322 23,453 27,850 18,250 22,501 23,319 27,784 17,919 22,726
Total Cost of Revenue		 13,420 7,988 10,121 10,675 13,097 8,248 9,919 10,396 13,181 7,926 10,304
Operating Cost of Revenue		 13,420 7,988 10,121 10,675 13,097 8,248 9,919 10,396 13,181 7,926 10,304
Total Operating Expenses		 13,761 7,229 8,542 8,763 13,070 7,285 8,534 9,051 12,353 7,410 10,633
Selling, General & Admin Expense		 12,197 7,229 8,542 8,763 12,143 7,285 8,534 9,051 12,320 7,410 8,773
Impairment Charge		 1,564 0.00 0.00 0.00 927 0.00 0.00 0.00 33 0.00 1,860
Total Other Income / (Expense), net		 -309 -139 -141 -139 -150 -144 -178 -178 -441 -241 -218
Interest Expense		 273 200 201 201 217 202 234 219 264 264 260
Other Income / (Expense), net		 - 61 60 62 - 58 56 - - - 42
Income Tax Expense		 -29 546 747 760 209 520 776 749 275 499 292
Net Income / (Loss) Attributable to Noncontrolling Interest		 17 12 23 24 22 11 11 15 11 9.00 16
Basic Earnings per Share		 $0.38 $1.40 $1.99 $2.25 $0.95 $1.49 $2.24 $2.13 $1.11 $1.34 $0.92
Weighted Average Basic Shares Outstanding		 1.38B 1.38B 1.38B 1.38B 1.38B 1.38B 1.38B 1.37B 1.37B 1.37B 1.37B
Diluted Earnings per Share		 $0.38 $1.40 $1.99 $2.24 $0.93 $1.48 $2.23 $2.13 $1.11 $1.33 $0.92
Weighted Average Diluted Shares Outstanding		 1.39B 1.38B 1.38B 1.38B 1.38B 1.38B 1.38B 1.38B 1.38B 1.38B 1.37B
Weighted Average Basic & Diluted Shares Outstanding		 1.38B 1.38B 1.38B 1.37B 1.37B 1.37B 1.37B 1.37B 1.37B 1.37B 1.37B
Cash Dividends to Common per Share		 - $1.15 $1.27 $1.27 - $1.27 $1.36 $1.36 - $1.36 $1.42

Annual Cash Flow Statements for PepsiCo

This table details how cash moves in and out of PepsiCo's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
Period end date 12/27/2014 12/26/2015 12/31/2016 12/30/2017 12/29/2018 12/28/2019 12/26/2020 12/25/2021 12/31/2022 12/30/2023 12/28/2024
Net Change in Cash & Equivalents		 -3,241 2,962 50 1,488 112 -5,199 2,684 -2,547 -607 4,661 -1,208
Net Cash From Operating Activities		 10,506 10,864 10,663 10,030 9,415 9,649 10,613 11,616 10,811 13,442 12,507
Net Cash From Continuing Operating Activities		 10,506 10,864 10,663 10,030 9,415 9,649 10,613 11,616 10,811 13,442 12,507
Net Income / (Loss) Continuing Operations		 6,558 5,501 6,379 4,908 12,559 7,353 7,175 7,679 8,978 9,155 9,626
Consolidated Net Income / (Loss)		 6,558 5,501 6,379 4,908 12,559 7,353 7,175 7,679 8,978 9,155 9,626
Depreciation Expense		 2,625 2,416 2,368 2,369 2,399 2,432 2,548 2,710 2,763 2,948 3,160
Amortization Expense		 - - - - - 412 478 505 517 570 655
Non-Cash Adjustments To Reconcile Net Income		 718 2,219 623 588 -5,268 455 523 -294 1,086 1,931 1,908
Changes in Operating Assets and Liabilities, net		 605 728 1,293 2,165 -275 -1,003 -111 1,016 -2,533 -1,162 -2,842
Net Cash From Investing Activities		 -4,937 -3,569 -7,150 -4,403 4,564 -6,437 -11,619 -3,269 -2,430 -5,495 -5,472
Net Cash From Continuing Investing Activities		 -4,937 -3,569 -7,150 -4,403 4,564 -6,437 -11,619 -3,269 -2,430 -5,495 -5,472
Purchase of Property, Plant & Equipment		 -2,859 -2,758 -3,040 -2,969 -3,282 -4,232 -4,240 -4,625 -5,207 -5,518 -5,318
Acquisitions		 -88 -86 -212 -61 -1,496 -2,717 -6,372 -61 -873 -314 -256
Purchase of Investments		 -6,305 -4,428 -12,504 -18,385 -5,637 0.00 -1,135 0.00 -291 -555 -425
Sale of Property, Plant & Equipment		 115 86 99 180 134 170 55 166 251 198 342
Divestitures		 203 76 85 267 505 253 6.00 169 49 75 166
Sale and/or Maturity of Investments		 4,007 4,114 8,415 16,536 14,338 78 0.00 1,077 3,606 571 0.00
Other Investing Activities, net		 -10 -573 7.00 29 2.00 11 67 5.00 35 48 19
Net Cash From Financing Activities		 -8,264 -4,112 -3,211 -4,186 -13,769 -8,489 3,819 -10,780 -8,523 -3,009 -7,556
Net Cash From Continuing Financing Activities		 -8,264 -4,112 -3,211 -4,186 -13,769 -8,489 3,819 -10,780 -8,523 -3,009 -7,556
Repayment of Debt		 -2,249 -4,137 -5,694 -5,626 -5,668 -5,024 -6,532 -8,743 -6,197 -6,184 -9,578
Repurchase of Common Equity		 -5,012 -5,000 -3,000 -2,000 -2,000 -3,000 -2,000 -106 -1,500 -1,000 -1,000
Payment of Dividends		 -3,730 -4,040 -4,227 -4,472 -4,930 -5,304 -5,509 -5,815 -6,172 -6,682 -7,229
Issuance of Debt		 1,868 8,717 9,382 7,600 -1,349 4,624 17,777 4,564 5,315 10,881 10,220
Other Financing Activities, net		 869 353 335 317 178 215 83 -680 31 -24 31
Effect of Exchange Rate Changes		 -546 -221 -252 47 -98 78 -129 -114 -465 -277 -687

Quarterly Cash Flow Statements for PepsiCo

This table details how cash moves in and out of PepsiCo's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025
Period end date 12/31/2022 3/25/2023 6/17/2023 9/9/2023 12/30/2023 3/23/2024 6/15/2024 9/7/2024 12/28/2024 3/22/2025 6/14/2025
Net Change in Cash & Equivalents		 -1,418 -263 1,405 3,889 -370 -1,631 -1,712 925 1,210 -234 -607
Net Cash From Operating Activities		 4,505 -392 2,411 5,611 5,812 -1,041 2,356 4,905 6,287 -973 1,969
Net Cash From Continuing Operating Activities		 4,505 -392 2,411 5,611 5,812 -1,041 2,356 4,905 6,287 -973 1,969
Net Income / (Loss) Continuing Operations		 535 1,944 2,771 3,116 1,324 2,053 3,094 2,945 1,534 1,843 1,279
Consolidated Net Income / (Loss)		 535 1,944 2,771 3,116 1,324 2,053 3,094 2,945 1,534 1,843 1,279
Depreciation Expense		 909 590 678 705 975 641 738 739 1,042 684 807
Amortization Expense		 171 116 132 136 186 127 151 160 217 145 170
Non-Cash Adjustments To Reconcile Net Income		 2,243 47 286 42 1,556 65 139 341 1,363 19 2,141
Changes in Operating Assets and Liabilities, net		 647 -3,089 -1,456 1,612 1,771 -3,927 -1,766 720 2,131 -3,664 -2,428
Net Cash From Investing Activities		 -2,739 -532 -891 -956 -3,116 -562 -892 -1,511 -2,507 -1,232 -2,895
Net Cash From Continuing Investing Activities		 -2,739 -532 -891 -956 -3,116 -562 -892 -1,511 -2,507 -1,232 -2,895
Purchase of Property, Plant & Equipment		 -2,660 -581 -916 -1,040 -2,981 -606 -1,087 -1,149 -2,468 -587 -920
Acquisitions		 -69 -16 -67 -49 -182 -6.00 -24 -1.00 -225 -1,200 -1,930
Sale of Property, Plant & Equipment		 23 19 103 9.00 67 7.00 120 50 165 132 37
Divestitures		 - - - - - 53 - - - 2.00 3.00
Sale and/or Maturity of Investments		 3,591 204 234 227 -94 0.00 75 13 -149 425 22
Other Investing Activities, net		 -3,428 0.00 32 17 -1.00 -10 24 1.00 4.00 -4.00 -107
Net Cash From Financing Activities		 -2,916 777 -87 -656 -3,043 10 -2,910 -2,382 -2,274 1,768 100
Net Cash From Continuing Financing Activities		 -2,916 777 -87 -656 -3,043 10 -2,910 -2,382 -2,274 1,768 100
Repayment of Debt		 -1,037 -1,255 -1,039 -1,014 -2,876 -2,883 -2,157 -2,042 -2,496 -3,662 -1,390
Repurchase of Common Equity		 -344 -160 -293 -298 -249 -146 -315 -299 -240 -183 -311
Payment of Dividends		 -1,586 -1,608 -1,591 -1,742 -1,741 -1,767 -1,739 -1,863 -1,860 -1,882 -1,861
Issuance of Debt		 36 3,870 2,799 2,400 1,812 4,848 1,283 1,792 2,297 7,534 3,676
Other Financing Activities, net		 15 -70 37 -2.00 11 -42 18 30 25 -39 -14
Effect of Exchange Rate Changes		 -268 -116 -28 -110 -23 -38 -266 -87 -296 203 219

Annual Balance Sheets for PepsiCo

This table presents PepsiCo's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
Period end date 12/27/2014 12/26/2015 12/31/2016 12/30/2017 12/29/2018 12/28/2019 12/26/2020 12/25/2021 12/31/2022 12/30/2023 12/28/2024
Total Assets		 70,509 69,667 73,490 79,804 77,648 78,547 92,918 92,377 92,187 100,495 99,467
Total Current Assets		 20,663 23,031 26,450 31,027 21,893 17,645 23,001 21,783 21,539 26,950 25,826
Cash & Equivalents		 6,134 9,096 9,158 10,610 8,721 5,509 8,185 5,596 4,954 9,711 8,505
Short-Term Investments		 2,592 2,913 6,967 8,900 272 229 1,366 392 394 292 761
Note & Lease Receivable		 6,651 6,437 6,694 7,024 7,142 7,822 8,404 8,680 10,163 10,815 10,333
Inventories, net		 3,143 2,720 2,723 2,947 3,128 - 4,172 4,347 5,222 5,334 5,306
Prepaid Expenses		 2,143 1,865 908 1,546 633 747 874 980 806 798 921
Other Current Nonoperating Assets		 - - - - - - 0.00 1,788 - - 0.00
Plant, Property, & Equipment, net		 17,244 16,317 16,591 17,240 17,589 19,305 21,369 22,407 24,291 27,039 28,008
Plant, Property & Equipment, gross		 - 16,317 16,591 - - 19,305 - - - - 56,005
Accumulated Depreciation		 - - - - - - - - - - 27,997
Total Noncurrent Assets		 32,602 30,319 30,449 31,537 38,166 41,597 48,548 48,464 47,170 48,122 45,633
Long-Term Investments		 2,689 2,311 1,950 2,042 2,409 2,683 2,792 2,627 3,886 4,330 1,985
Goodwill		 14,965 14,177 14,430 14,744 14,808 15,501 18,757 18,381 18,202 17,728 17,534
Intangible Assets		 14,088 13,081 13,433 13,838 15,825 16,043 19,315 18,665 15,586 14,929 14,801
Noncurrent Deferred & Refundable Income Taxes		 - - - 0.00 4,364 4,359 4,372 4,310 4,204 4,474 4,362
Other Noncurrent Operating Assets		 860 750 636 913 760 3,011 3,312 4,481 5,292 6,661 6,951
Total Liabilities & Shareholders' Equity		 70,509 57,637 62,291 79,804 77,648 78,547 92,918 92,377 92,187 100,495 99,467
Total Liabilities		 52,961 57,637 62,291 68,823 63,046 63,679 79,366 76,226 74,914 81,858 81,296
Total Current Liabilities		 18,092 17,578 21,135 20,502 22,138 20,461 23,372 26,220 26,785 31,647 31,536
Short-Term Debt		 5,076 4,071 6,892 5,485 4,026 2,920 3,780 4,308 3,414 6,510 7,082
Accounts Payable		 13,016 13,507 14,243 15,017 18,112 17,541 19,592 21,159 23,371 25,137 24,454
Other Current Nonoperating Liabilities		 - - - - - - 0.00 753 0.00 0.00 0.00
Total Noncurrent Liabilities		 34,869 40,059 41,156 48,321 40,908 43,218 55,994 50,006 48,129 50,211 49,760
Long-Term Debt		 23,821 29,213 30,053 33,796 28,295 29,148 40,370 36,026 35,657 37,595 37,224
Noncurrent Deferred & Payable Income Tax Liabilities		 5,304 4,959 4,434 3,242 3,499 4,091 4,284 4,826 4,133 3,895 3,484
Other Noncurrent Operating Liabilities		 5,744 5,887 6,669 11,283 9,114 9,979 11,340 9,154 8,339 8,721 9,052
Total Equity & Noncontrolling Interests		 17,548 0.00 0.00 10,981 14,602 14,868 13,552 16,151 17,273 18,637 18,171
Total Preferred & Common Equity		 17,578 0.00 0.00 11,086 14,518 14,786 13,454 16,043 17,149 18,503 18,041
Total Common Equity		 17,397 0.00 0.00 11,045 14,518 14,786 13,454 16,043 17,149 18,503 18,041
Common Stock		 4,140 - - 4,020 3,976 14,786 3,933 4,024 4,157 4,284 4,408
Retained Earnings		 49,092 - - 52,839 59,947 - 63,443 65,165 67,800 70,035 72,266
Treasury Stock		 -25,166 - - - - 0.00 -38,446 -38,248 -39,506 -40,282 -41,021
Accumulated Other Comprehensive Income / (Loss)		 -10,669 - - -13,057 -15,119 - -15,476 -14,898 -15,302 -15,534 -17,612
Noncontrolling Interest		 110 - - 92 84 82 98 108 124 134 130

Quarterly Balance Sheets for PepsiCo

This table presents PepsiCo's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025
Period end date 12/31/2022 3/25/2023 6/17/2023 9/9/2023 12/30/2023 3/23/2024 6/15/2024 9/7/2024 12/28/2024 3/22/2025 6/14/2025
Total Assets		 92,187 93,042 95,906 99,953 100,495 100,040 99,533 100,513 99,467 101,737 105,345
Total Current Assets		 21,539 22,427 24,954 28,649 26,950 26,005 25,703 26,852 25,826 26,288 28,210
Cash & Equivalents		 4,954 4,770 6,116 10,017 9,711 8,047 6,353 7,308 8,505 8,268 7,631
Short-Term Investments		 394 434 338 266 292 303 315 743 761 314 342
Note & Lease Receivable		 10,163 10,469 11,456 11,782 10,815 10,938 11,942 12,088 10,333 10,800 12,390
Inventories, net		 5,222 5,697 5,969 5,558 5,334 5,569 5,887 5,644 5,306 5,660 6,487
Prepaid Expenses		 806 1,057 1,075 1,026 798 1,148 1,206 1,069 921 1,246 1,360
Plant, Property, & Equipment, net		 24,291 24,228 24,500 24,853 27,039 26,792 27,042 27,188 28,008 28,213 28,797
Plant, Property & Equipment, gross		 - 50,022 50,804 51,585 - 54,510 55,040 55,466 - 56,942 58,469
Accumulated Depreciation		 - 25,794 26,304 26,732 - 27,718 27,998 28,278 - 28,729 29,672
Total Noncurrent Assets		 47,170 46,387 46,452 46,451 48,122 47,243 46,788 46,473 46,979 47,236 48,338
Long-Term Investments		 3,886 3,123 3,038 2,955 4,330 2,734 2,674 2,645 3,331 1,996 2,061
Goodwill		 18,202 18,089 17,997 17,892 17,728 17,646 17,648 17,709 17,534 18,364 18,952
Intangible Assets		 15,586 15,523 15,562 15,501 14,929 14,853 14,826 14,857 14,801 15,363 15,523
Noncurrent Deferred & Refundable Income Taxes		 4,204 4,211 4,186 4,165 4,474 4,444 4,465 4,321 4,362 4,350 4,293
Other Noncurrent Operating Assets		 5,292 5,441 5,669 5,938 6,661 7,566 7,175 6,941 6,951 7,163 7,509
Total Liabilities & Shareholders' Equity		 92,187 93,042 95,906 99,953 100,495 100,040 99,533 100,513 99,467 101,737 105,345
Total Liabilities		 74,914 75,867 78,081 80,983 81,858 80,850 79,953 80,908 81,296 83,208 86,786
Total Current Liabilities		 26,785 25,837 29,618 32,660 31,647 30,234 31,148 30,315 31,536 31,511 36,396
Short-Term Debt		 3,414 4,281 7,613 8,937 6,510 8,161 8,289 6,524 7,082 9,099 12,056
Accounts Payable		 23,371 21,556 22,005 23,723 25,137 22,073 22,859 23,791 24,454 22,412 24,340
Total Noncurrent Liabilities		 48,129 50,030 48,463 48,323 50,211 50,616 48,805 50,593 49,760 51,697 50,390
Long-Term Debt		 35,657 37,486 36,008 35,837 37,595 37,707 36,638 38,490 37,224 39,419 39,328
Noncurrent Deferred & Payable Income Tax Liabilities		 4,133 4,039 4,113 4,047 3,895 4,087 3,908 3,684 3,484 3,541 3,102
Other Noncurrent Operating Liabilities		 8,339 8,505 8,342 8,439 8,721 8,822 8,259 8,419 9,052 8,737 7,960
Total Equity & Noncontrolling Interests		 17,273 17,175 17,825 18,970 18,637 19,190 19,580 19,605 18,171 18,529 18,559
Total Preferred & Common Equity		 17,149 17,042 17,685 18,806 18,503 19,047 19,446 19,453 18,041 18,389 18,418
Total Common Equity		 17,149 17,042 17,685 18,806 18,503 19,047 19,446 19,453 18,041 18,389 18,418
Common Stock		 4,157 4,019 4,105 4,177 4,284 4,155 4,226 4,304 4,408 4,297 4,322
Retained Earnings		 67,800 68,142 69,135 70,479 70,035 70,331 71,545 72,607 72,266 72,238 71,547
Treasury Stock		 -39,506 -39,518 -39,775 -40,056 -40,282 -40,260 -40,539 -40,806 -41,021 -41,068 -41,361
Accumulated Other Comprehensive Income / (Loss)		 -15,302 -15,601 -15,780 -15,794 -15,534 -15,179 -15,786 -16,652 -17,612 -17,078 -16,090
Noncontrolling Interest		 124 133 140 164 134 143 134 152 130 140 141

Annual Metrics And Ratios for PepsiCo

This table displays calculated financial ratios and metrics derived from PepsiCo's official financial filings.

Metric 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
Period end date 12/27/2014 12/26/2015 12/31/2016 12/30/2017 12/29/2018 12/28/2019 12/26/2020 12/25/2021 12/31/2022 12/30/2023 12/28/2024
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 0.40% -5.44% -0.41% 1.16% 1.79% 3.87% 4.78% 12.93% 8.70% 5.88% 0.42%
EBITDA Growth		 -1.31% -11.77% 12.85% 7.97% -2.40% 2.22% 0.11% 13.68% 0.17% 3.89% 7.59%
EBIT Growth		 -1.28% -12.82% 17.14% 9.89% -3.21% -1.55% -1.63% 15.91% -0.34% 2.94% 7.33%
NOPAT Growth		 -3.15% -13.95% 18.42% -28.17% 163.07% -41.19% -1.86% 9.44% 10.62% -0.45% 8.04%
Net Income Growth		 -3.37% -16.12% 15.96% -23.06% 155.89% -41.45% -2.42% 7.02% 16.92% 1.97% 5.14%
EPS Growth		 -1.16% -14.05% 18.80% -22.48% 159.76% -40.77% -1.54% 7.23% 16.94% 2.18% 5.95%
Operating Cash Flow Growth		 8.44% 3.41% -1.85% -5.94% -6.13% 2.49% 9.99% 9.45% -6.93% 24.34% -6.96%
Free Cash Flow Firm Growth		 802.08% -48.58% -19.33% -19.73% 36.18% -65.18% -63.93% 516.75% 26.80% -15.09% 22.29%
Invested Capital Growth		 -26.58% -11.52% -2.98% -4.52% 16.77% 14.89% 17.77% 3.86% 1.72% 4.39% 2.40%
Revenue Q/Q Growth		 -0.25% -2.12% 1.50% 0.02% 0.00% 1.69% 2.65% 3.64% 3.29% -0.16% -0.07%
EBITDA Q/Q Growth		 -3.05% 1.41% 1.05% 5.25% 1.24% 4.15% 5.00% 5.62% -9.39% 6.52% 4.01%
EBIT Q/Q Growth		 -3.69% 2.57% 1.46% 6.40% 1.55% 0.74% 1.28% 2.26% -12.18% 7.81% 4.42%
NOPAT Q/Q Growth		 -5.64% 8.23% -1.78% -32.61% 158.61% -41.10% 0.75% -1.32% -12.28% 7.36% 4.46%
Net Income Q/Q Growth		 -6.13% 7.99% -4.72% -30.09% 151.33% -40.90% 1.14% -6.32% -8.24% 9.43% 2.23%
EPS Q/Q Growth		 -5.53% 8.90% -4.39% -30.02% 151.58% -40.50% 1.19% -6.47% -8.15% 9.15% 2.66%
Operating Cash Flow Q/Q Growth		 8.10% 2.61% -2.29% 1.05% 8.53% -1.00% -0.90% 4.42% -4.23% 10.77% 3.95%
Free Cash Flow Firm Q/Q Growth		 179.87% -28.72% -1.16% -5.70% 75.75% -61.71% 192.56% -13.44% -2.69% 9.46% 40.77%
Invested Capital Q/Q Growth		 -14.72% -4.51% -4.75% -11.26% 2.92% 0.88% -0.77% 1.32% -1.01% -0.95% -5.00%
Profitability Metrics		 - - - - - - - - - - -
Gross Margin		 53.15% 54.44% 55.06% 54.67% 54.56% 55.13% 54.82% 53.35% 53.03% 54.21% 54.55%
EBITDA Margin		 18.30% 17.08% 19.35% 20.66% 19.81% 19.49% 18.62% 18.75% 17.27% 16.95% 18.16%
Operating Margin		 14.37% 13.25% 15.61% 16.18% 15.64% 15.32% 14.32% 14.04% 13.33% 13.10% 14.03%
EBIT Margin		 14.37% 13.25% 15.58% 16.93% 16.10% 15.26% 14.32% 14.70% 13.48% 13.10% 14.01%
Profit (Net Income) Margin		 9.83% 8.72% 10.16% 7.73% 19.42% 10.95% 10.20% 9.66% 10.39% 10.01% 10.48%
Tax Burden Percent		 74.89% 73.92% 74.58% 51.11% 136.67% 78.96% 79.12% 78.19% 83.87% 80.19% 80.58%
Interest Burden Percent		 91.40% 89.09% 87.41% 89.30% 88.29% 90.88% 89.97% 84.06% 91.94% 95.25% 92.86%
Effective Tax Rate		 25.11% 26.08% 25.42% 48.89% -36.67% 21.04% 20.88% 21.81% 16.13% 19.81% 19.42%
Return on Invested Capital (ROIC)		 17.34% 18.70% 23.95% 17.87% 44.41% 22.56% 19.02% 18.88% 20.32% 19.63% 20.51%
ROIC Less NNEP Spread (ROIC-NNEP)		 14.32% 15.93% 20.89% 16.43% 37.54% 18.93% 16.13% 15.54% 18.12% 18.15% 18.16%
Return on Net Nonoperating Assets (RNNOA)		 13.93% 43.99% 0.00% 71.52% 53.78% 27.34% 31.48% 32.83% 33.40% 31.36% 31.79%
Return on Equity (ROE)		 31.28% 62.70% 0.00% 89.39% 98.18% 49.90% 50.49% 51.71% 53.72% 50.99% 52.30%
Cash Return on Invested Capital (CROIC)		 48.00% 30.93% 26.98% 22.50% 28.94% 8.70% 2.70% 15.08% 18.61% 15.33% 18.14%
Operating Return on Assets (OROA)		 12.95% 11.92% 13.67% 14.03% 13.22% 13.12% 11.76% 12.61% 12.62% 12.44% 12.87%
Return on Assets (ROA)		 8.86% 7.85% 8.91% 6.40% 15.95% 9.42% 8.37% 8.29% 9.73% 9.50% 9.63%
Return on Common Equity (ROCE)		 31.18% 62.16% 0.00% 89.91% 98.11% 49.62% 50.17% 51.35% 53.35% 50.62% 51.93%
Return on Equity Simple (ROE_SIMPLE)		 37.31% 0.00% 0.00% 44.27% 86.51% 49.73% 53.33% 47.87% 52.35% 49.48% 53.36%
Net Operating Profit after Tax (NOPAT)		 7,175 6,174 7,312 5,253 13,818 8,126 7,975 8,728 9,655 9,611 10,384
NOPAT Margin		 10.76% 9.79% 11.64% 8.27% 21.37% 12.10% 11.33% 10.98% 11.18% 10.51% 11.31%
Net Nonoperating Expense Percent (NNEP)		 3.02% 2.78% 3.06% 1.44% 6.87% 3.63% 2.88% 3.34% 2.20% 1.47% 2.35%
Return On Investment Capital (ROIC_SIMPLE)		 - - - - - - - - 17.14% 15.32% 16.62%
Cost of Revenue to Revenue		 46.85% 45.56% 44.94% 45.33% 45.44% 44.87% 45.18% 46.65% 46.97% 45.79% 45.45%
SG&A Expenses to Revenue		 38.65% 39.03% 39.45% 38.49% 38.93% 39.81% 40.43% 39.30% 39.89% 40.10% 40.49%
R&D to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Operating Expenses to Revenue		 38.79% 41.19% 39.45% 38.49% 38.93% 39.81% 40.49% 39.30% 39.71% 41.11% 40.52%
Earnings before Interest and Taxes (EBIT)		 9,581 8,353 9,785 10,753 10,408 10,247 10,080 11,684 11,644 11,986 12,865
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 12,206 10,769 12,153 13,122 12,807 13,091 13,106 14,899 14,924 15,504 16,680
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 6.34 0.00 0.00 12.77 9.17 11.42 13.50 13.64 13.67 12.23 11.63
Price to Tangible Book Value (P/TBV)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Price to Revenue (P/Rev)		 1.65 1.82 1.92 2.22 2.06 2.51 2.58 2.75 2.71 2.47 2.28
Price to Earnings (P/E)		 16.94 21.00 19.08 29.05 10.64 23.08 25.50 28.73 26.31 24.94 21.90
Dividend Yield		 3.43% 3.51% 3.52% 3.19% 3.80% 3.13% 3.06% 2.68% 2.66% 3.00% 3.49%
Earnings Yield		 5.90% 4.76% 5.24% 3.44% 9.40% 4.33% 3.92% 3.48% 3.80% 4.01% 4.57%
Enterprise Value to Invested Capital (EV/IC)		 3.65 4.31 4.64 5.54 4.54 5.00 4.71 5.32 5.52 5.12 4.72
Enterprise Value to Revenue (EV/Rev)		 1.92 2.12 2.22 2.50 2.35 2.87 3.03 3.15 3.06 2.80 2.63
Enterprise Value to EBITDA (EV/EBITDA)		 10.48 12.39 11.49 12.11 11.88 14.71 16.29 16.82 17.72 16.52 14.48
Enterprise Value to EBIT (EV/EBIT)		 13.36 15.98 14.27 14.78 14.62 18.79 21.18 21.45 22.71 21.37 18.78
Enterprise Value to NOPAT (EV/NOPAT)		 17.84 21.62 19.10 30.26 11.01 23.69 26.77 28.72 27.39 26.65 23.27
Enterprise Value to Operating Cash Flow (EV/OCF)		 12.18 12.29 13.10 15.85 16.16 19.95 20.12 21.58 24.46 19.06 19.32
Enterprise Value to Free Cash Flow (EV/FCFF)		 6.44 13.07 16.95 24.04 16.90 61.41 188.78 35.94 29.90 34.11 26.31
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 1.65 0.00 0.00 3.58 2.21 2.16 3.26 2.50 2.26 2.37 2.44
Long-Term Debt to Equity		 1.36 0.00 0.00 3.08 1.94 1.96 2.98 2.23 2.06 2.02 2.05
Financial Leverage		 0.97 2.76 0.00 4.35 1.43 1.44 1.95 2.11 1.84 1.73 1.75
Leverage Ratio		 3.53 7.99 0.00 13.96 6.15 5.30 6.03 6.24 5.52 5.37 5.43
Compound Leverage Factor		 3.23 7.12 0.00 12.47 5.43 4.82 5.43 5.24 5.08 5.11 5.04
Debt to Total Capital		 62.22% 100.00% 100.00% 78.15% 68.88% 68.32% 76.51% 71.41% 69.34% 70.30% 70.92%
Short-Term Debt to Total Capital		 10.93% 12.23% 18.65% 10.91% 8.58% 6.22% 6.55% 7.63% 6.06% 10.38% 11.34%
Long-Term Debt to Total Capital		 51.29% 87.77% 81.35% 67.24% 60.30% 62.10% 69.96% 63.78% 63.28% 59.92% 59.58%
Preferred Equity to Total Capital		 0.09% 0.00% 0.00% 0.08% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 0.24% 0.00% 0.00% 0.18% 0.18% 0.17% 0.17% 0.19% 0.22% 0.21% 0.21%
Common Equity to Total Capital		 37.46% 0.00% 0.00% 21.97% 30.94% 31.50% 23.32% 28.40% 30.44% 29.49% 28.88%
Debt to EBITDA		 2.37 3.09 3.04 2.99 2.52 2.45 3.37 2.71 2.62 2.84 2.66
Net Debt to EBITDA		 1.43 1.76 1.55 1.35 1.48 1.81 2.43 2.13 2.00 1.92 1.90
Long-Term Debt to EBITDA		 1.95 2.71 2.47 2.58 2.21 2.23 3.08 2.42 2.39 2.42 2.23
Debt to NOPAT		 4.03 5.39 5.05 7.48 2.34 3.95 5.54 4.62 4.05 4.59 4.27
Net Debt to NOPAT		 2.44 3.07 2.58 3.38 1.37 2.91 3.99 3.63 3.09 3.10 3.05
Long-Term Debt to NOPAT		 3.32 4.73 4.11 6.43 2.05 3.59 5.06 4.13 3.69 3.91 3.58
Altman Z-Score		 3.66 2.59 2.54 3.56 3.62 2.83 3.44 3.93 4.19 3.88 3.85
Noncontrolling Interest Sharing Ratio		 0.31% 0.86% 0.00% -0.58% 0.08% 0.56% 0.63% 0.69% 0.69% 0.72% 0.72%
Liquidity Ratios		 - - - - - - - - - - -
Current Ratio		 1.14 1.31 1.25 1.51 0.99 0.86 0.98 0.83 0.80 0.85 0.82
Quick Ratio		 0.85 1.05 1.08 1.29 0.73 0.66 0.77 0.56 0.58 0.66 0.62
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 19,858 10,210 8,237 6,612 9,004 3,135 1,131 6,975 8,844 7,509 9,183
Operating Cash Flow to CapEx		 382.87% 406.59% 362.56% 359.63% 299.08% 237.54% 253.60% 260.51% 218.14% 252.67% 251.35%
Free Cash Flow to Firm to Interest Expense		 21.85 10.53 6.14 5.74 7.39 3.35 1.00 3.74 9.42 9.17 9.99
Operating Cash Flow to Interest Expense		 11.56 11.20 7.95 8.71 7.72 10.32 9.41 6.24 11.51 16.41 13.61
Operating Cash Flow Less CapEx to Interest Expense		 8.54 8.45 5.75 6.29 5.14 5.98 5.70 3.84 6.24 9.92 8.19
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 0.90 0.90 0.88 0.83 0.82 0.86 0.82 0.86 0.94 0.95 0.92
Accounts Receivable Turnover		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Inventory Turnover		 0.00 9.80 10.37 10.16 9.67 0.00 0.00 8.70 8.48 7.94 7.85
Fixed Asset Turnover		 3.72 3.76 3.82 3.76 3.71 3.64 3.46 3.63 3.70 3.56 3.34
Accounts Payable Turnover		 2.45 2.17 2.03 1.97 1.77 1.69 1.71 1.82 1.82 1.73 1.68
Days Sales Outstanding (DSO)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Days Inventory Outstanding (DIO)		 0.00 37.24 35.20 35.93 37.73 0.00 0.00 41.93 43.04 46.00 46.52
Days Payable Outstanding (DPO)		 149.26 168.47 179.45 185.44 205.78 215.94 213.13 200.59 200.28 211.38 216.81
Cash Conversion Cycle (CCC)		 -149.26 -131.23 -144.25 -149.51 -168.05 -215.94 -213.13 -158.66 -157.25 -165.38 -170.29
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 35,030 30,994 30,069 28,710 33,524 38,515 45,359 47,112 47,923 50,025 51,226
Invested Capital Turnover		 1.61 1.91 2.06 2.16 2.08 1.86 1.68 1.72 1.82 1.87 1.81
Increase / (Decrease) in Invested Capital		 -12,683 -4,036 -925 -1,359 4,814 4,991 6,844 1,753 811 2,102 1,201
Enterprise Value (EV)		 127,976 133,480 139,641 158,957 152,165 192,532 213,484 250,668 264,405 256,167 241,602
Market Capitalization		 110,343 114,516 120,771 141,095 133,159 168,803 181,579 218,841 234,444 226,261 209,763
Book Value per Share		 $11.62 $0.00 $0.00 $7.77 $10.29 $10.60 $9.74 $11.60 $12.45 $13.46 $13.15
Tangible Book Value per Share		 ($7.79) ($18.71) ($19.43) ($12.33) ($11.42) ($12.02) ($17.81) ($15.19) ($12.08) ($10.29) ($10.42)
Total Capital		 46,445 33,284 36,945 50,262 46,923 46,936 57,702 56,485 56,344 62,742 62,477
Total Debt		 28,897 33,284 36,945 39,281 32,321 32,068 44,150 40,334 39,071 44,105 44,306
Total Long-Term Debt		 23,821 29,213 30,053 33,796 28,295 29,148 40,370 36,026 35,657 37,595 37,224
Net Debt		 17,482 18,964 18,870 17,729 18,922 23,647 31,807 31,719 29,837 29,772 31,709
Capital Expenditures (CapEx)		 2,744 2,672 2,941 2,789 3,148 4,062 4,185 4,459 4,956 5,320 4,976
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 -1,079 -2,485 -3,918 -3,500 -7,209 -5,634 -6,142 -6,117 -7,180 -8,190 -7,894
Debt-free Net Working Capital (DFNWC)		 7,647 9,524 12,207 16,010 3,781 104 3,409 -129 -1,832 1,813 1,372
Net Working Capital (NWC)		 2,571 5,453 5,315 10,525 -245 -2,816 -371 -4,437 -5,246 -4,697 -5,710
Net Nonoperating Expense (NNE)		 617 673 933 345 1,259 773 800 1,049 677 456 758
Net Nonoperating Obligations (NNO)		 17,482 30,994 30,069 17,729 18,922 23,647 31,807 30,961 30,650 31,388 33,055
Total Depreciation and Amortization (D&A)		 2,625 2,416 2,368 2,369 2,399 2,844 3,026 3,215 3,280 3,518 3,815
Debt-free, Cash-free Net Working Capital to Revenue		 -1.62% -3.94% -6.24% -5.51% -11.15% -8.39% -8.73% -7.70% -8.31% -8.95% -8.59%
Debt-free Net Working Capital to Revenue		 11.47% 15.10% 19.44% 25.20% 5.85% 0.15% 4.84% -0.16% -2.12% 1.98% 1.49%
Net Working Capital to Revenue		 3.86% 8.65% 8.46% 16.57% -0.38% -4.19% -0.53% -5.58% -6.07% -5.14% -6.22%
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 $4.31 $3.71 $4.39 $3.40 $8.84 $5.23 $5.14 $5.51 $6.45 $6.59 $6.97
Adjusted Weighted Average Basic Shares Outstanding		 1.51B 1.47B 1.44B 1.43B 1.42B 1.40B 1.39B 1.38B 1.38B 1.38B 1.37B
Adjusted Diluted Earnings per Share		 $4.27 $3.67 $4.36 $3.38 $8.78 $5.20 $5.12 $5.49 $6.42 $6.56 $6.95
Adjusted Weighted Average Diluted Shares Outstanding		 1.53B 1.49B 1.45B 1.44B 1.43B 1.41B 1.39B 1.39B 1.39B 1.38B 1.38B
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 1.48B 1.45B 1.43B 1.42B 1.40B 1.39B 1.38B 1.38B 1.38B 1.37B 1.37B
Normalized Net Operating Profit after Tax (NOPAT)		 7,175 7,179 7,312 5,253 7,077 8,126 8,008 8,728 12,310 10,355 10,411
Normalized NOPAT Margin		 10.76% 11.39% 11.64% 8.27% 10.94% 12.10% 11.38% 10.98% 14.25% 11.32% 11.33%
Pre Tax Income Margin		 13.13% 11.80% 13.62% 15.12% 14.21% 13.87% 12.89% 12.36% 12.39% 12.48% 13.01%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 10.54 8.61 7.29 9.34 8.54 10.96 8.94 6.27 12.40 14.63 14.00
NOPAT to Interest Expense		 7.89 6.37 5.45 4.56 11.34 8.69 7.07 4.68 10.28 11.74 11.30
EBIT Less CapEx to Interest Expense		 7.52 5.86 5.10 6.92 5.96 6.62 5.23 3.88 7.12 8.14 8.58
NOPAT Less CapEx to Interest Expense		 4.87 3.61 3.26 2.14 8.75 4.35 3.36 2.29 5.00 5.24 5.88
Payout Ratios		 - - - - - - - - - - -
Dividend Payout Ratio		 56.88% 73.44% 66.26% 91.12% 39.25% 72.13% 76.78% 75.73% 68.75% 72.99% 75.10%
Augmented Payout Ratio		 133.30% 164.33% 113.29% 131.87% 55.18% 112.93% 104.66% 77.11% 85.45% 83.91% 85.49%

Quarterly Metrics And Ratios for PepsiCo

This table displays calculated financial ratios and metrics derived from PepsiCo's official financial filings.

Metric Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025
Period end date 12/31/2022 3/25/2023 6/17/2023 9/9/2023 12/30/2023 3/23/2024 6/15/2024 9/7/2024 12/28/2024 3/22/2025 6/14/2025
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 10.88% 10.16% 10.37% 6.75% -0.52% 2.26% 0.80% -0.57% -0.24% -1.81% 1.00%
EBITDA Growth		 -46.98% -42.68% 59.75% 18.94% 50.08% 2.62% 9.01% -2.99% 23.38% -3.70% -43.76%
EBIT Growth		 -68.19% -48.93% 79.23% 21.59% 106.50% 1.00% 8.85% -5.03% 33.69% -6.92% -55.39%
NOPAT Growth		 -60.17% -52.93% 76.47% 13.05% 68.68% 5.62% 12.29% -4.36% 31.26% -6.24% -55.00%
Net Income Growth		 -60.10% -54.51% 91.63% 14.39% 147.48% 5.61% 11.66% -5.49% 15.86% -10.23% -58.66%
EPS Growth		 -60.00% -54.25% 93.20% 14.87% 144.74% 5.71% 12.06% -4.91% 19.35% -10.14% -58.74%
Operating Cash Flow Growth		 -9.57% -125.29% 17.32% 26.80% 29.01% -165.56% -2.28% -12.58% 8.17% 6.53% -16.43%
Free Cash Flow Firm Growth		 -87.65% -114.41% -116.20% 21.19% -1,378.76% -72.01% 107.67% -129.06% 209.02% 61.18% -13,090.04%
Invested Capital Growth		 1.72% 5.73% 6.59% 4.32% 4.39% 6.64% 6.18% 6.77% 2.40% 4.62% 8.60%
Revenue Q/Q Growth		 27.42% -36.26% 25.08% 5.07% 18.75% -34.47% 23.29% 3.64% 19.15% -35.51% 26.83%
EBITDA Q/Q Growth		 -54.17% 79.21% 33.36% 8.59% -42.17% 22.54% 41.66% -3.36% -26.45% -2.76% -17.70%
EBIT Q/Q Growth		 -75.69% 230.06% 38.25% 9.63% -58.72% 61.44% 48.99% -4.35% -41.89% 14.80% -29.11%
NOPAT Q/Q Growth		 -69.82% 138.19% 40.42% 11.99% -54.97% 49.15% 49.28% -4.62% -38.19% 6.54% -28.35%
Net Income Q/Q Growth		 -80.36% 263.36% 42.54% 12.45% -57.51% 55.06% 50.71% -4.82% -47.91% 20.14% -30.60%
EPS Q/Q Growth		 -80.51% 268.42% 42.14% 12.56% -58.48% 59.14% 50.68% -4.48% -47.89% 19.82% -30.83%
Operating Cash Flow Q/Q Growth		 1.81% -108.70% 715.05% 132.73% 3.58% -117.91% 326.32% 108.19% 28.18% -115.48% 302.36%
Free Cash Flow Firm Q/Q Growth		 -94.59% -1,465.58% 52.35% 444.23% -157.09% -83.68% 102.12% -1,404.30% 314.17% -165.40% -611.05%
Invested Capital Q/Q Growth		 -1.01% 5.62% 2.65% -2.79% -0.95% 7.89% 2.21% -2.25% -5.00% 10.24% 6.09%
Profitability Metrics		 - - - - - - - - - - -
Gross Margin		 52.06% 55.24% 54.66% 54.48% 52.97% 54.81% 55.92% 55.42% 52.56% 55.77% 54.66%
EBITDA Margin		 6.77% 19.03% 20.29% 20.97% 10.21% 19.10% 21.94% 20.46% 12.63% 19.04% 12.36%
Operating Margin		 2.91% 14.73% 16.39% 17.12% 6.04% 14.89% 17.99% 16.60% 8.10% 14.41% 7.87%
EBIT Margin		 2.91% 15.07% 16.66% 17.38% 6.04% 14.89% 17.99% 16.60% 8.10% 14.41% 8.06%
Profit (Net Income) Margin		 1.91% 10.89% 12.41% 13.29% 4.75% 11.25% 13.75% 12.63% 5.52% 10.29% 5.63%
Tax Burden Percent		 105.73% 78.07% 78.77% 80.39% 86.37% 79.79% 79.95% 79.72% 84.80% 78.69% 81.41%
Interest Burden Percent		 62.09% 92.57% 94.60% 95.07% 91.09% 94.70% 95.60% 95.40% 80.40% 90.67% 85.80%
Effective Tax Rate		 -5.73% 21.93% 21.23% 19.61% 13.63% 20.21% 20.05% 20.28% 15.20% 21.31% 18.59%
Return on Invested Capital (ROIC)		 5.60% 20.56% 23.11% 25.49% 9.75% 20.87% 24.72% 23.30% 12.46% 18.80% 10.22%
ROIC Less NNEP Spread (ROIC-NNEP)		 4.54% 20.22% 22.77% 25.13% 9.33% 20.53% 24.31% 22.87% 11.30% 18.28% 9.76%
Return on Net Nonoperating Assets (RNNOA)		 8.36% 35.88% 40.05% 40.10% 16.12% 38.52% 45.31% 39.05% 19.78% 35.24% 19.68%
Return on Equity (ROE)		 13.96% 56.44% 63.16% 65.59% 25.87% 59.39% 70.03% 62.35% 32.24% 54.04% 29.90%
Cash Return on Invested Capital (CROIC)		 18.61% 9.34% 10.67% 13.87% 15.33% 12.18% 12.83% 12.49% 18.14% 14.04% 6.48%
Operating Return on Assets (OROA)		 2.73% 14.27% 15.89% 16.38% 5.74% 14.17% 16.95% 15.23% 7.44% 13.08% 7.22%
Return on Assets (ROA)		 1.79% 10.31% 11.84% 12.52% 4.51% 10.71% 12.95% 11.58% 5.07% 9.33% 5.04%
Return on Common Equity (ROCE)		 13.86% 56.04% 62.71% 65.04% 25.68% 58.94% 69.52% 61.84% 32.01% 53.64% 29.69%
Return on Equity Simple (ROE_SIMPLE)		 0.00% 39.02% 45.09% 44.49% 0.00% 48.64% 49.30% 48.40% 0.00% 51.20% 41.27%
Net Operating Profit after Tax (NOPAT)		 862 2,053 2,882 3,228 1,454 2,168 3,236 3,087 1,908 2,033 1,456
NOPAT Margin		 3.08% 11.50% 12.91% 13.76% 5.22% 11.88% 14.38% 13.24% 6.87% 11.34% 6.41%
Net Nonoperating Expense Percent (NNEP)		 1.06% 0.34% 0.35% 0.37% 0.42% 0.34% 0.41% 0.43% 1.16% 0.52% 0.46%
Return On Investment Capital (ROIC_SIMPLE)		 1.53% - - - 2.32% - - - 3.05% 3.03% 2.08%
Cost of Revenue to Revenue		 47.94% 44.76% 45.34% 45.52% 47.03% 45.19% 44.08% 44.58% 47.44% 44.23% 45.34%
SG&A Expenses to Revenue		 43.57% 40.51% 38.27% 37.36% 43.60% 39.92% 37.93% 38.81% 44.34% 41.35% 38.60%
R&D to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Operating Expenses to Revenue		 49.15% 40.51% 38.27% 37.36% 46.93% 39.92% 37.93% 38.81% 44.46% 41.35% 46.79%
Earnings before Interest and Taxes (EBIT)		 815 2,690 3,719 4,077 1,683 2,717 4,048 3,872 2,250 2,583 1,831
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 1,895 3,396 4,529 4,918 2,844 3,485 4,937 4,771 3,509 3,412 2,808
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 13.67 13.95 14.06 12.51 12.23 12.32 11.58 12.52 11.63 10.85 9.74
Price to Tangible Book Value (P/TBV)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Price to Revenue (P/Rev)		 2.71 2.70 2.76 2.57 2.47 2.55 2.45 2.65 2.28 2.18 1.96
Price to Earnings (P/E)		 26.31 36.12 31.48 28.39 24.94 25.55 23.66 26.03 21.90 21.29 23.76
Dividend Yield		 2.66% 2.67% 2.61% 2.83% 3.00% 2.96% 3.14% 2.95% 3.49% 3.73% 4.19%
Earnings Yield		 3.80% 2.77% 3.18% 3.52% 4.01% 3.91% 4.23% 3.84% 4.57% 4.70% 4.21%
Enterprise Value to Invested Capital (EV/IC)		 5.52 5.36 5.45 5.29 5.12 4.99 4.73 5.16 4.72 4.21 3.69
Enterprise Value to Revenue (EV/Rev)		 3.06 3.08 3.14 2.91 2.80 2.93 2.83 3.03 2.63 2.60 2.41
Enterprise Value to EBITDA (EV/EBITDA)		 17.72 22.23 20.46 18.35 16.52 17.22 16.18 17.34 14.48 14.29 15.28
Enterprise Value to EBIT (EV/EBIT)		 22.71 30.57 27.06 24.02 21.37 22.33 20.94 22.57 18.78 18.63 21.05
Enterprise Value to NOPAT (EV/NOPAT)		 27.39 36.94 32.97 29.83 26.65 27.72 25.88 27.97 23.27 23.18 26.08
Enterprise Value to Operating Cash Flow (EV/OCF)		 24.46 25.61 25.85 22.00 19.06 21.07 20.48 23.11 19.32 18.89 18.12
Enterprise Value to Free Cash Flow (EV/FCFF)		 29.90 58.98 52.68 38.92 34.11 42.34 37.98 42.62 26.31 30.63 59.27
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 2.26 2.43 2.45 2.36 2.37 2.39 2.29 2.30 2.44 2.62 2.77
Long-Term Debt to Equity		 2.06 2.18 2.02 1.89 2.02 1.96 1.87 1.96 2.05 2.13 2.12
Financial Leverage		 1.84 1.77 1.76 1.60 1.73 1.88 1.86 1.71 1.75 1.93 2.02
Leverage Ratio		 5.52 5.24 5.18 5.10 5.37 5.31 5.22 5.20 5.43 5.35 5.37
Compound Leverage Factor		 3.43 4.85 4.90 4.85 4.89 5.03 5.00 4.96 4.37 4.85 4.61
Debt to Total Capital		 69.34% 70.86% 70.99% 70.24% 70.30% 70.50% 69.65% 69.66% 70.92% 72.36% 73.47%
Short-Term Debt to Total Capital		 6.06% 7.26% 12.39% 14.02% 10.38% 12.54% 12.85% 10.10% 11.34% 13.57% 17.24%
Long-Term Debt to Total Capital		 63.28% 63.60% 58.60% 56.22% 59.92% 57.96% 56.80% 59.56% 59.58% 58.79% 56.23%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 0.22% 0.23% 0.23% 0.26% 0.21% 0.22% 0.21% 0.24% 0.21% 0.21% 0.20%
Common Equity to Total Capital		 30.44% 28.91% 28.78% 29.50% 29.49% 29.28% 30.15% 30.10% 28.88% 27.43% 26.33%
Debt to EBITDA		 2.62 3.42 3.15 3.08 2.84 2.93 2.79 2.81 2.66 2.92 3.55
Net Debt to EBITDA		 2.00 2.74 2.47 2.17 1.92 2.22 2.21 2.14 1.90 2.28 2.86
Long-Term Debt to EBITDA		 2.39 3.07 2.60 2.46 2.42 2.41 2.27 2.40 2.23 2.37 2.72
Debt to NOPAT		 4.05 5.69 5.08 5.00 4.59 4.72 4.46 4.53 4.27 4.73 6.07
Net Debt to NOPAT		 3.09 4.55 3.98 3.52 3.10 3.58 3.53 3.45 3.05 3.70 4.88
Long-Term Debt to NOPAT		 3.69 5.10 4.19 4.00 3.91 3.88 3.63 3.87 3.58 3.85 4.64
Altman Z-Score		 3.81 3.90 3.93 3.73 3.54 3.68 3.69 3.82 3.49 3.35 3.03
Noncontrolling Interest Sharing Ratio		 0.69% 0.71% 0.72% 0.85% 0.72% 0.76% 0.73% 0.82% 0.72% 0.75% 0.72%
Liquidity Ratios		 - - - - - - - - - - -
Current Ratio		 0.80 0.87 0.84 0.88 0.85 0.86 0.83 0.89 0.82 0.83 0.78
Quick Ratio		 0.58 0.61 0.60 0.68 0.66 0.64 0.60 0.66 0.62 0.62 0.56
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 51 -692 -330 1,136 -648 -1,191 25 -330 707 -462 -3,288
Operating Cash Flow to CapEx		 170.84% -69.75% 296.56% 544.23% 199.45% -171.50% 243.64% 446.31% 272.99% -213.85% 222.99%
Free Cash Flow to Firm to Interest Expense		 0.19 -3.46 -1.64 5.65 -2.99 -5.90 0.11 -1.51 2.68 -1.75 -12.64
Operating Cash Flow to Interest Expense		 16.50 -1.96 12.00 27.92 26.78 -5.15 10.07 22.40 23.81 -3.69 7.57
Operating Cash Flow Less CapEx to Interest Expense		 6.84 -4.77 7.95 22.79 13.35 -8.16 5.94 17.38 15.09 -5.41 4.18
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 0.94 0.95 0.95 0.94 0.95 0.95 0.94 0.92 0.92 0.91 0.90
Accounts Receivable Turnover		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Inventory Turnover		 8.48 7.87 7.43 7.98 7.94 7.48 7.07 7.44 7.85 7.38 6.76
Fixed Asset Turnover		 3.70 3.81 3.82 3.85 3.56 3.60 3.57 3.53 3.34 3.33 3.29
Accounts Payable Turnover		 1.82 1.96 1.94 1.82 1.73 1.93 1.87 1.75 1.68 1.86 1.77
Days Sales Outstanding (DSO)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Days Inventory Outstanding (DIO)		 43.04 46.41 49.10 45.74 46.00 48.79 51.59 49.07 46.52 49.47 54.02
Days Payable Outstanding (DPO)		 200.28 186.01 188.43 200.07 211.38 188.94 195.23 208.14 216.81 196.00 206.04
Cash Conversion Cycle (CCC)		 -157.25 -139.60 -139.33 -154.33 -165.38 -140.15 -143.64 -159.07 -170.29 -146.52 -152.02
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 47,923 50,615 51,954 50,506 50,025 53,974 55,165 53,923 51,226 56,469 59,909
Invested Capital Turnover		 1.82 1.79 1.79 1.85 1.87 1.76 1.72 1.76 1.81 1.66 1.59
Increase / (Decrease) in Invested Capital		 811 2,745 3,212 2,092 2,102 3,359 3,211 3,417 1,201 2,495 4,744
Enterprise Value (EV)		 264,405 271,260 282,984 267,028 256,167 269,581 260,923 278,059 241,602 237,565 220,897
Market Capitalization		 234,444 237,687 248,715 235,328 226,261 234,654 225,204 243,589 209,763 199,485 179,406
Book Value per Share		 $12.45 $12.37 $12.84 $13.66 $13.46 $13.85 $14.14 $14.16 $13.15 $13.41 $13.43
Tangible Book Value per Share		 ($12.08) ($12.03) ($11.52) ($10.60) ($10.29) ($9.78) ($9.48) ($9.55) ($10.42) ($11.18) ($11.71)
Total Capital		 56,344 58,942 61,446 63,744 62,742 65,058 64,507 64,619 62,477 67,047 69,943
Total Debt		 39,071 41,767 43,621 44,774 44,105 45,868 44,927 45,014 44,306 48,518 51,384
Total Long-Term Debt		 35,657 37,486 36,008 35,837 37,595 37,707 36,638 38,490 37,224 39,419 39,328
Net Debt		 29,837 33,440 34,129 31,536 29,772 34,784 35,585 34,318 31,709 37,940 41,350
Capital Expenditures (CapEx)		 2,637 562 813 1,031 2,914 607 967 1,099 2,303 455 883
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 -7,180 -4,333 -3,505 -5,357 -8,190 -4,418 -3,824 -4,990 -7,894 -4,706 -4,103
Debt-free Net Working Capital (DFNWC)		 -1,832 871 2,949 4,926 1,813 3,932 2,844 3,061 1,372 3,876 3,870
Net Working Capital (NWC)		 -5,246 -3,410 -4,664 -4,011 -4,697 -4,229 -5,445 -3,463 -5,710 -5,223 -8,186
Net Nonoperating Expense (NNE)		 327 109 111 112 130 115 142 142 374 190 177
Net Nonoperating Obligations (NNO)		 30,650 33,440 34,129 31,536 31,388 34,784 35,585 34,318 33,055 37,940 41,350
Total Depreciation and Amortization (D&A)		 1,080 706 810 841 1,161 768 889 899 1,259 829 977
Debt-free, Cash-free Net Working Capital to Revenue		 -8.31% -4.92% -3.89% -5.85% -8.95% -4.81% -4.15% -5.43% -8.59% -5.14% -4.47%
Debt-free Net Working Capital to Revenue		 -2.12% 0.99% 3.27% 5.38% 1.98% 4.28% 3.09% 3.33% 1.49% 4.24% 4.22%
Net Working Capital to Revenue		 -6.07% -3.87% -5.17% -4.38% -5.14% -4.60% -5.92% -3.77% -6.22% -5.71% -8.92%
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 $0.38 $1.40 $1.99 $2.25 $0.95 $1.49 $2.24 $2.13 $1.11 $1.34 $0.92
Adjusted Weighted Average Basic Shares Outstanding		 1.38B 1.38B 1.38B 1.38B 1.38B 1.38B 1.38B 1.37B 1.37B 1.37B 1.37B
Adjusted Diluted Earnings per Share		 $0.38 $1.40 $1.99 $2.24 $0.93 $1.48 $2.23 $2.13 $1.11 $1.33 $0.92
Adjusted Weighted Average Diluted Shares Outstanding		 1.39B 1.38B 1.38B 1.38B 1.38B 1.38B 1.38B 1.38B 1.38B 1.38B 1.37B
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 1.38B 1.38B 1.38B 1.37B 1.37B 1.37B 1.37B 1.37B 1.37B 1.37B 1.37B
Normalized Net Operating Profit after Tax (NOPAT)		 1,665 2,053 2,882 3,228 2,254 2,168 3,236 3,087 1,936 2,033 2,971
Normalized NOPAT Margin		 5.95% 11.50% 12.91% 13.76% 8.09% 11.88% 14.38% 13.24% 6.97% 11.34% 13.07%
Pre Tax Income Margin		 1.81% 13.95% 15.76% 16.53% 5.50% 14.10% 17.20% 15.84% 6.51% 13.07% 6.91%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 2.99 13.45 18.50 20.28 7.76 13.45 17.30 17.68 8.52 9.78 7.04
NOPAT to Interest Expense		 3.16 10.26 14.34 16.06 6.70 10.73 13.83 14.10 7.23 7.70 5.60
EBIT Less CapEx to Interest Expense		 -6.67 10.64 14.46 15.15 -5.67 10.45 13.17 12.66 -0.20 8.06 3.65
NOPAT Less CapEx to Interest Expense		 -6.50 7.45 10.29 10.93 -6.73 7.73 9.70 9.08 -1.50 5.98 2.21
Payout Ratios		 - - - - - - - - - - -
Dividend Payout Ratio		 68.75% 94.38% 79.93% 78.02% 72.99% 73.85% 72.90% 75.51% 75.10% 77.99% 98.22%
Augmented Payout Ratio		 85.45% 116.44% 95.66% 91.11% 83.91% 84.49% 83.42% 86.23% 85.49% 89.01% 111.81%

Key Financial Trends

PepsiCo (NASDAQ: PEP) has demonstrated consistent revenue growth over the last several quarters and years. Operating revenue increased from $17.85 billion in Q1 2023 to $17.92 billion in Q1 2025, with noticeable peaks in Q4 quarters reaching approximately $27.8 billion. This steady revenue boost reflects strong demand and effective business operations.

Gross profit margins have generally remained strong, with total gross profit around $9.99 billion in Q1 2025, compared to $9.86 billion in Q1 2023, highlighting the company's ability to control cost of revenue relative to sales. However, PepsiCo faces high selling, general, and administrative (SG&A) expenses, which were $7.41 billion in Q1 2025 and increased compared to $7.23 billion in Q1 2023. These costs can pressure operating income.

Operating income showed moderate variation, with Q1 2025 reporting about $2.58 billion, up from $2.63 billion in Q1 2023, indicating slightly improved operational profitability despite rising expenses. Net income attributable to common shareholders rose from $1.93 billion in Q1 2023 to $1.83 billion in Q1 2025, reflecting stable profitability though slightly lower in the latest quarter.

Liquidity and cash flow aspects reveal some challenges. Net cash from operating activities was negative $973 million in Q1 2025, compared to negative $392 million in Q1 2024, driven largely by a significant decline in changes in operating assets and liabilities. This contrasts with positive $2.36 billion in Q2 2024 and generally positive cash flows in previous quarters, suggesting some working capital strain recently.

Investing activities expenditures are substantial due to purchases of property, plant & equipment (about $587 million in Q1 2025) and acquisitions ($1.2 billion), impacting free cash flow negatively. Financing activities generated positive cash flow in Q1 2025 ($1.77 billion), driven mainly by issuance of debt of $7.53 billion, partly offset by debt repayment and dividend payments. Debt levels have increased, with long-term debt rising from about $37.4 billion in Q1 2023 to $39.4 billion in Q1 2025.

On the balance sheet side, total assets increased to approximately $101.7 billion in Q1 2025 from around $93 billion in Q1 2023. Notable growth in notes and lease receivable as well as goodwill and intangible assets indicates ongoing investments and acquisitions. Total shareholders' equity has remained around $18.4 billion, with treasury stock holdings stable, reflecting consistent share repurchases.

  • Steady revenue growth with Q1 2025 total revenue at $17.9 billion, up from $17.85 billion in Q1 2023.
  • Maintained strong gross profit margins with total gross profit near $9.99 billion in Q1 2025.
  • Operating income improved moderately to $2.58 billion in Q1 2025 from $2.63 billion in Q1 2023.
  • Consistent dividend payments with cash dividends per share rising from $1.15 in Q1 2023 to $1.355 in Q1 2025.
  • Strategic acquisitions and investments expanding company assets and intangible value.
  • Negative net cash from operating activities in Q1 2025 (-$973M), though fluctuates seasonally and recovered in prior quarters.
  • Increased debt issuance ($7.53B in Q1 2025) supports financing but raises leverage.
  • Cash and equivalents remained strong at $8.27 billion in Q1 2025.
  • Rising SG&A expenses dampen operating margin improvements, at $7.41 billion in Q1 2025.
  • Increased debt levels with long-term debt rising from ~$37.4B in early 2023 to $39.4B in Q1 2025 increase financial risk.

In summary, PepsiCo has shown resilient revenue and profit growth over the past several years, supported by strategic acquisitions and solid brand strength. While profitability margins remain healthy, rising operating expenses and increased leverage could pressure future earnings and cash flows. The recent negative operating cash flow in the latest quarter warrants attention, though seasonal factors and investment activities explain part of this trend. Overall, the company appears financially stable with ongoing investment for growth balanced by shareholder returns.

08/08/25 03:10 AMAI Generated. May Contain Errors.

Frequently Asked Questions About PepsiCo's Financials

When does PepsiCo's financial year end?

According to the most recent income statement we have on file, PepsiCo's fiscal year ends in December. Their fiscal year 2024 ended on December 28, 2024.

How has PepsiCo's net income changed over the last 10 years?

PepsiCo's net income appears to be on an upward trend, with a most recent value of $9.63 billion in 2024, rising from $6.56 billion in 2014. The previous period was $9.16 billion in 2023. Check out PepsiCo's forecast to explore projected trends and price targets.

What is PepsiCo's operating income?
PepsiCo's total operating income in 2024 was $12.89 billion, based on the following breakdown:
  • Total Gross Profit: $50.11 billion
  • Total Operating Expenses: $37.22 billion
How has PepsiCo's revenue changed over the last 10 years?

Over the last 10 years, PepsiCo's total revenue changed from $66.68 billion in 2014 to $91.85 billion in 2024, a change of 37.7%.

How much debt does PepsiCo have?

PepsiCo's total liabilities were at $81.30 billion at the end of 2024, a 0.7% decrease from 2023, and a 53.5% increase since 2014.

How much cash does PepsiCo have?

In the past 10 years, PepsiCo's cash and equivalents has ranged from $4.95 billion in 2022 to $10.61 billion in 2017, and is currently $8.51 billion as of their latest financial filing in 2024.

How has PepsiCo's book value per share changed over the last 10 years?

Over the last 10 years, PepsiCo's book value per share changed from 11.62 in 2014 to 13.15 in 2024, a change of 13.1%.


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This page (NASDAQ:PEP) was last updated on 8/8/2025 by MarketBeat.com Staff
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