Company Valuation: PepsiCo, Inc.

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 239,843 255,191 235,666 212,201 196,596 192,545 - -
Change - 6.4% -7.65% -9.96% -7.35% -2.06% - -
Enterprise Value (EV) 1 274,189 288,914 269,768 247,241 236,248 230,871 230,128 228,910
Change - 5.37% -6.63% -8.35% -4.45% -2.28% -0.32% -0.53%
P/E 31.2x 28.5x 25.8x 22x 24x 17.3x 16.4x 15.6x
PBR 14.8x 14.7x 12.6x 11.6x 9.63x 8.07x 7.23x 6.6x
PEG - 1.7x 11.83x 3.7x -1.8x 0.5x 3.11x 3.02x
Capitalization / Revenue 3.02x 2.95x 2.58x 2.31x 2.09x 1.95x 1.89x 1.83x
EV / Revenue 3.45x 3.34x 2.95x 2.69x 2.52x 2.33x 2.26x 2.17x
EV / EBITDA 19.4x 19.1x 16x 13.8x 12.9x 11.9x 11.4x 10.8x
EV / EBIT 24x 23.4x 19.4x 16.8x 15.8x 14.5x 13.9x 13.2x
EV / FCF 39.2x 51.6x 34x 34.4x 30.8x 21.9x 19.6x 17.9x
FCF Yield 2.55% 1.94% 2.94% 2.91% 3.25% 4.57% 5.1% 5.6%
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% 4.14% 4.35% 4.62%
EPS 2 5.49 6.42 6.56 6.95 6 8.166 8.597 9.04
Distribution rate 77.4% 70.5% 75.4% - 93.7% 71.5% 71.4% 72.1%
Net sales 1 79,474 86,392 91,471 91,854 93,925 98,954 101,862 105,450
EBITDA 1 14,124 15,088 16,823 17,858 18,363 19,391 20,124 21,218
EBIT 1 11,414 12,325 13,875 14,698 14,912 15,896 16,519 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 2 171.47 183.07 169.40 152.89 143.78 141.07 141.07 141.07
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.($)
17.23x2.31x11.81x4.18% 191B
21.06x2.35x12.98x2.39% 47.52B
16.37x1.51x7.48x3.84% 23.74B
27.06x0.77x9.79x1.84% 4B
13.77x1.87x8.08x4.99% 1.56B
12.87x1.38x7.7x3.39% 905M
Average 18.06x 1.70x 9.64x 3.44% 44.74B
Weighted average by Cap. 17.94x 2.22x 11.57x 3.8%

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