Company Valuation: PepsiCo, Inc.

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 239,843 255,191 235,666 212,201 196,596 174,911 - -
Change - 6.4% -7.65% -9.96% -7.35% -11.03% - -
Enterprise Value (EV) 1 274,189 288,914 269,768 247,241 236,248 213,243 212,506 211,357
Change - 5.37% -6.63% -8.35% -4.45% -9.74% -0.35% -0.54%
P/E 31.2x 28.5x 25.8x 22x 24x 15.7x 15x 14.3x
PBR 14.8x 14.7x 12.6x 11.6x 9.63x 7.33x 6.57x 6.02x
PEG - 1.7x 11.83x 3.7x -1.8x 0.4x 3.41x 2.68x
Capitalization / Revenue 3.02x 2.95x 2.58x 2.31x 2.09x 1.77x 1.72x 1.66x
EV / Revenue 3.45x 3.34x 2.95x 2.69x 2.52x 2.16x 2.09x 2.01x
EV / EBITDA 19.4x 19.1x 16x 13.8x 12.9x 11x 10.6x 9.99x
EV / EBIT 24x 23.4x 19.4x 16.8x 15.8x 13.4x 12.9x 12.2x
EV / FCF 39.2x 51.6x 34x 34.4x 30.8x 20.2x 18.2x 16.7x
FCF Yield 2.55% 1.94% 2.94% 2.91% 3.25% 4.94% 5.49% 5.98%
Dividend per Share 2 4.248 4.525 4.945 - 5.622 5.858 6.141 6.516
Rate of return 2.48% 2.47% 2.92% - 3.91% 4.57% 4.79% 5.08%
EPS 2 5.49 6.42 6.56 6.95 6 8.165 8.524 8.978
Distribution rate 77.4% 70.5% 75.4% - 93.7% 71.7% 72% 72.6%
Net sales 1 79,474 86,392 91,471 91,854 93,925 98,939 101,796 105,359
EBITDA 1 14,124 15,088 16,823 17,858 18,363 19,383 20,091 21,158
EBIT 1 11,414 12,325 13,875 14,698 14,912 15,889 16,489 17,275
Net income 1 7,618 8,910 9,074 9,578 8,240 10,959 11,369 12,020
Net Debt 1 34,346 33,723 34,102 35,040 39,652 38,332 37,595 36,446
Reference price 2 171.47 183.07 169.40 152.89 143.78 128.15 128.15 128.15
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.($)
15.94x2.18x11.14x4.5% 178B
20.13x2.27x12.51x2.5% 44.51B
15.85x1.48x7.33x3.94% 23.23B
26.44x0.75x9.52x1.88% 3.9B
13.25x1.78x7.69x5.05% 1.47B
12.61x1.36x7.55x3.46% 865M
Average 17.37x 1.64x 9.29x 3.55% 41.94B
Weighted average by Cap. 16.81x 2.11x 10.97x 4.05%

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