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 1,75,566 - -
Change - 6.4% -7.65% -9.96% -7.35% -10.7% - -
Enterprise Value (EV) 1 2,74,189 2,88,914 2,69,768 2,47,241 2,36,248 2,13,898 2,13,161 2,12,012
Change - 5.37% -6.63% -8.35% -4.45% -9.46% -0.34% -0.54%
P/E 31.2x 28.5x 25.8x 22x 24x 15.8x 15.1x 14.3x
PBR 14.8x 14.7x 12.6x 11.6x 9.63x 7.36x 6.59x 6.04x
PEG - 1.7x 11.83x 3.7x -1.8x 0.4x 3.43x 2.68x
Capitalization / Revenue 3.02x 2.95x 2.58x 2.31x 2.09x 1.77x 1.72x 1.67x
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 10x
EV / EBIT 24x 23.4x 19.4x 16.8x 15.8x 13.5x 12.9x 12.3x
EV / FCF 39.2x 51.6x 34x 34.4x 30.8x 20.3x 18.3x 16.8x
FCF Yield 2.55% 1.94% 2.94% 2.91% 3.25% 4.92% 5.47% 5.96%
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% 4.55% 4.77% 5.07%
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 1,01,796 1,05,359
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 2 171.47 183.07 169.40 152.89 143.78 128.63 128.63 128.63
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.($)
15.7x2.16x11x4.57% 18TCr
20.15x2.27x12.52x2.5% 4.46TCr
15.62x1.46x7.24x4% 2.32TCr
26.09x0.74x9.4x1.91% 392.29Cr
13.17x1.77x7.64x5.08% 146.56Cr
12.74x1.37x7.62x3.42% 87Cr
Average 17.24x 1.63x 9.24x 3.58% 4.16TCr
Weighted average by Cap. 16.62x 2.08x 10.87x 4.1%

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