Fundamentals · 2026-09-09S&P 500ANNUAL BASIS

PepsiCo

PEP stock analysis · Consumer Staples · Soft Drinks & Non-alcoholic Beverages

FY 2025-12-27ANNUAL FILINGS
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These are research estimates based on annual filings. Valuation uses a cash-flow proxy and explicit assumptions; prices are not live. Published valuations use annual periods first filed by the price date, with later restatements retained.
Reference share price · USD
$135.40HISTORICAL SNAPSHOT

As of · fund-implied per-share value

Fund holding value ÷ shares held. Not a live quote; not adjusted for later stock splits.

View SEC fund filing ↗
Estimated issuer market cap
$185.1B

Price × SEC outstanding shares. Shares measured 2026-04-09. Approximate; share and price dates can differ.

View share-count filing ↗
Valuation

DCF value

$85.26

Equity cash-flow scenario · SEC outstanding shares at 2026-04-09 · -37.0% versus input cap

How this is calculated ↗
Valuation

Reverse DCF

16.4%

Annual basis · read assumptions below

How this is calculated ↗
Valuation

Relative valuation

11.0%

26 sector peers · median 24.9×

How this is calculated ↗
Valuation

Historical multiples

26.2×

7 annual observations · snapshot P/E 22.5× · -14.3% versus history

How this is calculated ↗
Valuation

Free cash flow yield

4.1%

Annual basis · read assumptions below

How this is calculated ↗
Quality

ROIC / quality

16.7%

Normalized tax · financing-capital proxy · short-term borrowing coverage incomplete

How this is calculated ↗
Valuation

Value composite

41/100

Annual basis · read assumptions below

How this is calculated ↗
Momentum

12–1 price momentum

Split and corporate-action verification is incomplete for these fund observations. Verified adjusted endpoints are required for 12–1 momentum.

Split and corporate-action verification is incomplete for these fund observations. Verified adjusted endpoints are required for 12–1 momentum.

How this is calculated ↗
Investment

Asset growth

8.0%

Annual basis · read assumptions below

How this is calculated ↗
Investment

Net payout yield

Requires reported dividends, repurchases and issuance; missing values are not zero.

Requires reported dividends, repurchases and issuance; missing values are not zero.

How this is calculated ↗
Quality

Accrual quality

-3.7%

Annual basis · read assumptions below

How this is calculated ↗
Momentum

Fundamental momentum

-0.1%

Annual basis · read assumptions below

How this is calculated ↗

Follow the cash

ANNUAL · USD

Operating cash flow and reinvestment over time

USD · bar maximum 13.4B2020-12-26: cfo $10,613,000,000.002020-12-26: capex $4,240,000,000.0020202021-12-25: cfo $11,616,000,000.002021-12-25: capex $4,625,000,000.0020212022-12-31: cfo $10,811,000,000.002022-12-31: capex $5,207,000,000.0020222023-12-30: cfo $13,442,000,000.002023-12-30: capex $5,518,000,000.0020232024-12-28: cfo $12,507,000,000.002024-12-28: capex $5,318,000,000.0020242025-12-27: cfo $12,087,000,000.002025-12-27: capex $4,415,000,000.002025
Operating cash flowCapital expenditure

Annual USD. Negative bars use a compressed lower scale. Hover or inspect the financial history table for exact values.

Make the assumptions yours

Personal inputs stay in this browser. Blank fields retain published inputs. Five-year forecast; zero net borrowing. Required return must exceed terminal growth.

How sensitive is the valuation?

DCF per-share sensitivity · includes reviewed preferred and minority-owner claims · rows: required return · columns: growth
Return / Growth3.0%5.0%7.0%
8.0%$106.94$116.68$127.15
10.0%$78.36$85.26$92.66
12.0%$61.82$67.08$72.72

Annual financial history

Open SEC filings ↗
Fiscal year-endRevenueNet incomeOperating cash flowCapital expenditureAssets
2025-12-2793.9B8.3B12.1B4.4B107.4B
2024-12-2891.9B9.6B12.5B5.3B99.5B
2023-12-3091.5B9.2B13.4B5.5B100.5B
2022-12-3186.4B9B10.8B5.2B92.2B
2021-12-2579.5B7.7B11.6B4.6B92.4B
2020-12-2670.4B7.2B10.6B4.2B92.9B
2019-12-2867.2B7.4B9.6B4.2B78.5B
2018-12-2964.7B12.6B9.4B3.3B77.6B

USD, abbreviated. Restated annual history; not a point-in-time backtest. Missing values appear as dashes.

Trace the inputs

MODEL ANNUAL PERIOD
InputValueSEC tag / sourceFiled
revenue93.9BRevenues2026-02-03
netIncome8.3BProfitLoss
Explicit consolidated amount, including the portion attributable to noncontrolling interests.
2026-02-03
Parent/common earnings proxy8.2BNetIncomeLossAvailableToCommonStockholdersBasic2026-02-03
cfo12.1BNetCashProvidedByUsedInOperatingActivities2026-02-03
capex4.4BPaymentsToAcquireProductiveAssets2026-02-03
operatingIncome11.5BOperatingIncomeLoss2026-02-03
assets107.4BAssets2026-02-03
equity20.5BStockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
Explicit consolidated amount, including the portion attributable to noncontrolling interests.
2026-02-03
Parent book equity proxy20.4BStockholdersEquity2026-02-03
debt46.4BLongTermDebt2026-02-03
shortDebtNot reported under a supported tag
cash9.2BCashAndCashEquivalentsAtCarryingValue2026-02-03
shares1.4BWeightedAverageNumberOfDilutedSharesOutstanding2026-02-03
dividends7.6BPaymentsOfDividends2026-02-03
buybacks1BPaymentsForRepurchaseOfCommonStock2026-02-03
issuanceNot reported under a supported tag