PepsiCo
Financial ratios & Valuation

Forward Multiples (2025 – 2028)

20252025202620272028
Price/Earnings ratio
17.5117.7216.3415.3614.58
Price/Sales ratio
2.132.082.041.991.91
Earnings per Share (EPS)
$8.72$8.62$9.35$9.94$10.47

Historical Multiples (2014 – 2023)

2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 TTM Median
Valuation Ratios
Price/Earnings ratio
22.1726.7023.6035.0512.4726.3028.2130.8027.9825.7522.4312.47
Price/Sales ratio
2.162.302.372.682.412.862.852.952.882.552.282.86
Price/Book Value ratio
8.2812.2113.4615.6310.7513.0114.9314.6214.5312.6310.7910.75
Price/Cash Flow ratio
13.7413.7614.3617.0316.5819.9418.9320.1923.0617.3817.4416.58
Price/Free Cash Flow ratio
18.8818.6120.2824.2425.4635.5231.5233.5644.4829.4933.8225.46
Price/Earnings Growth ratio
-32.59-1.911.34-1.530.07-0.64-16.394.271.6212.79-2.71-0.64
Dividend Yield
2.58%2.77%2.82%2.62%3.15%2.75%2.74%2.47%2.47%2.85%3.48%3.15%
Profitability Indicator Ratios
Gross Profit Margin
53.68%54.98%55.08%54.68%54.56%55.13%54.81%53.52%53.38%54.21%54.86%54.56%
Operating Profit Margin
14.36%13.24%15.58%16.54%15.63%15.32%14.32%14.40%13.73%13.10%15.15%15.32%
Pretax Profit Margin
13.13%11.80%13.61%15.11%14.21%13.86%12.88%12.35%12.38%12.48%12.69%13.86%
Net Profit Margin
9.76%8.64%10.07%7.64%19.35%10.89%10.11%9.58%10.31%9.92%10.17%10.89%
Effective Tax Rate
25.11%26.08%25.41%48.88%-36.67%21.03%20.88%21.81%16.13%19.81%19.31%-36.67%
Return on Assets
9.23%7.82%8.53%6.08%16.11%9.31%7.66%8.24%9.66%9.02%9.30%9.31%
Return On Equity
37.34%45.72%57.04%44.60%86.20%49.46%52.92%47.48%51.95%49.04%48.95%49.46%
Return on Capital Employed
18.27%16.03%18.46%17.72%18.21%17.71%14.49%17.30%18.14%17.40%19.84%18.21%
Liquidity Ratios
Current Ratio
1.141.311.281.510.980.860.98N/AN/AN/A0.880.86
Quick Ratio
0.961.151.151.360.840.690.800.660.600.680.690.69
Cash ratio
0.330.510.430.510.390.260.350.210.180.300.240.26
Days of Sales Outstanding
36.4037.2638.9040.3540.3142.5143.5839.8642.9343.1547.9940.31
Days of Inventory outstanding
37.1434.9735.2337.3638.8540.4347.8942.9647.3146.4849.6438.85
Operating Cycle
73.5572.2374.1477.7279.1782.9491.4782.8290.2589.6497.6479.17
Days of Payables Outstanding
60.5971.3179.6785.2989.6097.06101.6297.1897.24101.40209.2889.60
Cash Conversion Cycle
12.950.92-5.53-7.57-10.43-14.11-10.14-14.36-6.99-11.75-111.63-14.11
Debt Ratios
Debt Ratio
0.400.470.490.490.410.400.470.430.420.430.440.41
Debt Equity Ratio
1.652.793.323.602.222.163.282.512.272.382.312.22
Long-term Debt to Capitalization
0.570.710.730.750.660.660.750.690.670.670.660.66
Total Debt to Capitalization
0.620.730.760.780.690.680.760.710.690.700.690.69
Interest Coverage Ratio
10.548.617.298.926.629.068.93N/AN/AN/A15.976.62
Cash Flow to Debt Ratio
0.360.310.280.250.290.300.240.280.270.300.260.30
Company Equity Multiplier
4.045.846.687.325.345.316.905.755.375.435.165.31
Cash Flow Ratios
Operating Cash Flow / Sales Ratio
0.150.160.160.150.140.140.150.140.120.140.130.14
Free Cash Flow / Operating Cash Flow Ratio
0.720.730.700.700.650.560.600.600.510.580.510.56
Cash Flow Coverage Ratio
0.360.310.280.250.290.300.240.280.270.300.260.30
Short Term Coverage Ratio
2.062.591.501.822.333.302.802.693.162.061.843.30
Dividend Payout Ratio
57.27%74.10%66.78%92.07%39.39%72.51%77.37%76.33%69.27%73.63%75.98%39.39%