Company Valuation: PepsiCo, Inc.

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 239,843 255,191 235,666 212,201 196,596 177,095 - -
Change - 6.4% -7.65% -9.96% -7.35% -9.92% - -
Enterprise Value (EV) 1 274,189 288,914 269,768 247,241 236,248 215,420 214,677 213,459
Change - 5.37% -6.63% -8.35% -4.45% -8.82% -0.34% -0.57%
P/E 31.2x 28.5x 25.8x 22x 24x 16x 15.2x 14.4x
PBR 14.8x 14.7x 12.6x 11.6x 9.63x 7.42x 6.65x 6.07x
PEG - 1.7x 11.83x 3.7x -1.8x 0.5x 2.75x 2.56x
Capitalization / Revenue 3.02x 2.95x 2.58x 2.31x 2.09x 1.79x 1.74x 1.68x
EV / Revenue 3.45x 3.34x 2.95x 2.69x 2.52x 2.18x 2.11x 2.02x
EV / EBITDA 19.4x 19.1x 16x 13.8x 12.9x 11.1x 10.7x 10.1x
EV / EBIT 24x 23.4x 19.4x 16.8x 15.8x 13.6x 13x 12.3x
EV / FCF 39.2x 51.6x 34x 34.4x 30.8x 20.4x 18.3x 16.7x
FCF Yield 2.55% 1.94% 2.94% 2.91% 3.25% 4.89% 5.46% 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% 4.5% 4.73% 5.02%
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 2 171.47 183.07 169.40 152.89 143.78 129.75 129.75 129.75
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 A 2/9/23 A 2/9/24 A 2/4/25 A 2/3/26 A - - -
1USD in Million2USD
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
16x2.18x11.11x4.5% 177B
19.92x2.25x12.4x2.52% 44.34B
15.74x1.47x7.3x3.96% 23.13B
26.44x0.75x9.52x1.88% 3.93B
12.96x1.75x7.57x5.14% 1.45B
12.91x1.39x7.72x3.38% 894M
Average 17.33x 1.63x 9.27x 3.56% 41.81B
Weighted average by Cap. 16.80x 2.10x 10.93x 4.06%

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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