Company Valuation: PepsiCo, Inc.

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 239,843 255,191 235,666 212,201 196,596 186,062 - -
Change - 6.4% -7.65% -9.96% -7.35% -5.36% - -
Enterprise Value (EV) 1 274,189 288,914 269,768 247,241 236,248 224,387 223,645 222,427
Change - 5.37% -6.63% -8.35% -4.45% -5.02% -0.33% -0.54%
P/E 31.2x 28.5x 25.8x 22x 24x 16.8x 15.9x 15.1x
PBR 14.8x 14.7x 12.6x 11.6x 9.63x 7.79x 6.98x 6.38x
PEG - 1.7x 11.83x 3.7x -1.8x 0.5x 2.87x 2.69x
Capitalization / Revenue 3.02x 2.95x 2.58x 2.31x 2.09x 1.88x 1.83x 1.77x
EV / Revenue 3.45x 3.34x 2.95x 2.69x 2.52x 2.27x 2.2x 2.11x
EV / EBITDA 19.4x 19.1x 16x 13.8x 12.9x 11.6x 11.1x 10.5x
EV / EBIT 24x 23.4x 19.4x 16.8x 15.8x 14.1x 13.5x 12.8x
EV / FCF 39.2x 51.6x 34x 34.4x 30.8x 21.3x 19.1x 17.4x
FCF Yield 2.55% 1.94% 2.94% 2.91% 3.25% 4.7% 5.24% 5.76%
Dividend per Share 2 4.248 4.525 4.945 - 5.622 5.842 6.141 6.516
Rate of return 2.48% 2.47% 2.92% - 3.91% 4.29% 4.5% 4.78%
EPS 2 5.49 6.42 6.56 6.95 6 8.11 8.559 9.04
Distribution rate 77.4% 70.5% 75.4% - 93.7% 72% 71.8% 72.1%
Net sales 1 79,474 86,392 91,471 91,854 93,925 98,952 101,820 105,413
EBITDA 1 14,124 15,088 16,823 17,858 18,363 19,385 20,123 21,218
EBIT 1 11,414 12,325 13,875 14,698 14,912 15,891 16,518 17,333
Net income 1 7,618 8,910 9,074 9,578 8,240 10,813 11,432 12,113
Net Debt 1 34,346 33,723 34,102 35,040 39,652 38,325 37,583 36,365
Reference price 2 171.47 183.07 169.40 152.89 143.78 136.32 136.32 136.32
Nbr of stocks (in thousands) 1,398,745 1,393,956 1,391,178 1,387,929 1,367,340 1,364,892 - -
Announcement Date 2/10/22 2/9/23 2/9/24 2/4/25 2/3/26 - - -
1USD in Million2USD
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
16.81x2.27x11.58x4.29% 186B
20.23x2.27x12.56x2.49% 45.49B
15.83x1.48x7.33x3.94% 23.26B
25.43x0.72x9.19x1.95% 3.87B
13.05x1.76x7.62x5.11% 1.47B
12.65x1.36x7.57x3.45% 885M
Average 17.33x 1.64x 9.31x 3.54% 43.49B
Weighted average by Cap. 17.41x 2.17x 11.30x 3.91%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA



Year-on-year evolution of the Yield

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