Company Valuation: PepsiCo, Inc.

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 2,39,843 2,55,191 2,35,666 2,12,201 1,96,596 1,86,089 - -
Change - 6.4% -7.65% -9.96% -7.35% -5.34% - -
Enterprise Value (EV) 1 2,74,189 2,88,914 2,69,768 2,47,241 2,36,248 2,24,415 2,23,672 2,22,454
Change - 5.37% -6.63% -8.35% -4.45% -5.01% -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 7.8x 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 1,01,820 1,05,413
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 2 171.47 183.07 169.40 152.89 143.78 136.34 136.34 136.34
Nbr of stocks (in thousands) 13,98,745 13,93,956 13,91,178 13,87,929 13,67,340 13,64,892 - -
Announcement Date 10/02/22 09/02/23 09/02/24 04/02/25 03/02/26 - - -
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% 19TCr
20.78x2.32x12.83x2.42% 4.65TCr
16.01x1.5x7.41x3.9% 2.35TCr
25.99x0.74x9.37x1.91% 392.38Cr
12.88x1.73x7.52x5.18% 144.62Cr
12.65x1.36x7.57x3.45% 88Cr
Average 17.52x 1.65x 9.38x 3.52% 4.37TCr
Weighted average by Cap. 17.55x 2.18x 11.36x 3.89%

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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