Analysis of Liquidity Ratios
Quarterly Data
Liquidity ratios measure the company ability to meet its short-term obligations.
Liquidity Ratios (Summary)
PepsiCo Inc., liquidity ratios (quarterly data)
Based on: 10-K (reporting date: 2023-12-30), 10-Q (reporting date: 2023-09-09), 10-Q (reporting date: 2023-06-17), 10-Q (reporting date: 2023-03-25), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-03), 10-Q (reporting date: 2022-06-11), 10-Q (reporting date: 2022-03-19), 10-K (reporting date: 2021-12-25), 10-Q (reporting date: 2021-09-04), 10-Q (reporting date: 2021-06-12), 10-Q (reporting date: 2021-03-20), 10-K (reporting date: 2020-12-26), 10-Q (reporting date: 2020-09-05), 10-Q (reporting date: 2020-06-13), 10-Q (reporting date: 2020-03-21), 10-K (reporting date: 2019-12-28), 10-Q (reporting date: 2019-09-07), 10-Q (reporting date: 2019-06-15), 10-Q (reporting date: 2019-03-23).
| Liquidity ratio | Description | The company |
|---|---|---|
| Current ratio | A liquidity ratio calculated as current assets divided by current liabilities. | PepsiCo Inc. current ratio improved from Q2 2023 to Q3 2023 but then slightly deteriorated from Q3 2023 to Q4 2023 not reaching Q2 2023 level. |
| Quick ratio | A liquidity ratio calculated as (cash plus short-term marketable investments plus receivables) divided by current liabilities. | PepsiCo Inc. quick ratio improved from Q2 2023 to Q3 2023 but then slightly deteriorated from Q3 2023 to Q4 2023. |
| Cash ratio | A liquidity ratio calculated as (cash plus short-term marketable investments) divided by current liabilities. | PepsiCo Inc. cash ratio improved from Q2 2023 to Q3 2023 and from Q3 2023 to Q4 2023. |
Current Ratio
PepsiCo Inc., current ratio calculation (quarterly data)
| Dec 30, 2023 | Sep 9, 2023 | Jun 17, 2023 | Mar 25, 2023 | Dec 31, 2022 | Sep 3, 2022 | Jun 11, 2022 | Mar 19, 2022 | Dec 25, 2021 | Sep 4, 2021 | Jun 12, 2021 | Mar 20, 2021 | Dec 26, 2020 | Sep 5, 2020 | Jun 13, 2020 | Mar 21, 2020 | Dec 28, 2019 | Sep 7, 2019 | Jun 15, 2019 | Mar 23, 2019 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||||||||||||||||||||||
| Current assets | 26,950) | 28,649) | 24,954) | 22,427) | 21,539) | 23,543) | 22,633) | 22,342) | 21,783) | 23,710) | 21,597) | 21,196) | 23,001) | 24,060) | 23,189) | 24,268) | 17,645) | 19,198) | 17,212) | 17,917) | ||||||
| Current liabilities | 31,647) | 32,660) | 29,618) | 25,837) | 26,785) | 25,653) | 27,223) | 25,824) | 26,220) | 25,077) | 23,623) | 22,693) | 23,372) | 26,009) | 23,827) | 22,078) | 20,461) | 20,131) | 19,928) | 19,090) | ||||||
| Liquidity Ratio | ||||||||||||||||||||||||||
| Current ratio1 | 0.85 | 0.88 | 0.84 | 0.87 | 0.80 | 0.92 | 0.83 | 0.87 | 0.83 | 0.95 | 0.91 | 0.93 | 0.98 | 0.93 | 0.97 | 1.10 | 0.86 | 0.95 | 0.86 | 0.94 | ||||||
| Benchmarks | ||||||||||||||||||||||||||
| Current Ratio, Competitors2 | ||||||||||||||||||||||||||
| Altria Group Inc. | 0.49 | 0.33 | 0.37 | 0.78 | 0.84 | 0.50 | 0.49 | 0.62 | 0.71 | 0.74 | 0.72 | 0.80 | 0.79 | 0.77 | 0.75 | 0.71 | 0.59 | 0.56 | 0.56 | 0.62 | ||||||
| Coca-Cola Co. | 1.13 | 1.14 | 1.14 | 1.15 | 1.15 | 1.13 | 1.13 | 1.18 | 1.13 | 1.52 | 1.47 | 1.33 | 1.32 | 1.13 | 1.09 | 0.87 | 0.76 | 0.92 | 0.83 | 1.02 | ||||||
| Mondelēz International Inc. | 0.62 | 0.61 | 0.65 | 0.68 | 0.60 | 0.69 | 0.68 | 0.68 | 0.74 | 0.73 | 0.61 | 0.61 | 0.66 | 0.74 | 0.55 | 0.53 | 0.50 | 0.50 | 0.44 | 0.48 | ||||||
Based on: 10-K (reporting date: 2023-12-30), 10-Q (reporting date: 2023-09-09), 10-Q (reporting date: 2023-06-17), 10-Q (reporting date: 2023-03-25), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-03), 10-Q (reporting date: 2022-06-11), 10-Q (reporting date: 2022-03-19), 10-K (reporting date: 2021-12-25), 10-Q (reporting date: 2021-09-04), 10-Q (reporting date: 2021-06-12), 10-Q (reporting date: 2021-03-20), 10-K (reporting date: 2020-12-26), 10-Q (reporting date: 2020-09-05), 10-Q (reporting date: 2020-06-13), 10-Q (reporting date: 2020-03-21), 10-K (reporting date: 2019-12-28), 10-Q (reporting date: 2019-09-07), 10-Q (reporting date: 2019-06-15), 10-Q (reporting date: 2019-03-23).
1 Q4 2023 Calculation
Current ratio = Current assets ÷ Current liabilities
= 26,950 ÷ 31,647 = 0.85
2 Click competitor name to see calculations.
| Liquidity ratio | Description | The company |
|---|---|---|
| Current ratio | A liquidity ratio calculated as current assets divided by current liabilities. | PepsiCo Inc. current ratio improved from Q2 2023 to Q3 2023 but then slightly deteriorated from Q3 2023 to Q4 2023 not reaching Q2 2023 level. |
Quick Ratio
PepsiCo Inc., quick ratio calculation (quarterly data)
| Dec 30, 2023 | Sep 9, 2023 | Jun 17, 2023 | Mar 25, 2023 | Dec 31, 2022 | Sep 3, 2022 | Jun 11, 2022 | Mar 19, 2022 | Dec 25, 2021 | Sep 4, 2021 | Jun 12, 2021 | Mar 20, 2021 | Dec 26, 2020 | Sep 5, 2020 | Jun 13, 2020 | Mar 21, 2020 | Dec 28, 2019 | Sep 7, 2019 | Jun 15, 2019 | Mar 23, 2019 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||||||||||||||||||||||
| Cash and cash equivalents | 9,711) | 10,017) | 6,116) | 4,770) | 4,954) | 6,415) | 5,405) | 6,561) | 5,596) | 6,506) | 5,449) | 5,661) | 8,185) | 9,094) | 8,927) | 11,089) | 5,509) | 5,494) | 3,293) | 5,072) | ||||||
| Short-term investments | 292) | 266) | 338) | 434) | 394) | 327) | 287) | 343) | 392) | 344) | 328) | 964) | 1,366) | 611) | 196) | 158) | 229) | 287) | 291) | 289) | ||||||
| Restricted cash | —) | —) | —) | —) | —) | —) | —) | —) | —) | —) | —) | —) | —) | —) | —) | —) | —) | 127) | 150) | 190) | ||||||
| Accounts and notes receivable, less allowance | 10,815) | 11,782) | 11,456) | 10,469) | 10,163) | 10,739) | 10,498) | 9,424) | 8,680) | 9,545) | 9,722) | 8,885) | 8,404) | 9,295) | 8,780) | 8,477) | 7,822) | 8,735) | 8,502) | 7,604) | ||||||
| Total quick assets | 20,818) | 22,065) | 17,910) | 15,673) | 15,511) | 17,481) | 16,190) | 16,328) | 14,668) | 16,395) | 15,499) | 15,510) | 17,955) | 19,000) | 17,903) | 19,724) | 13,560) | 14,643) | 12,236) | 13,155) | ||||||
| Current liabilities | 31,647) | 32,660) | 29,618) | 25,837) | 26,785) | 25,653) | 27,223) | 25,824) | 26,220) | 25,077) | 23,623) | 22,693) | 23,372) | 26,009) | 23,827) | 22,078) | 20,461) | 20,131) | 19,928) | 19,090) | ||||||
| Liquidity Ratio | ||||||||||||||||||||||||||
| Quick ratio1 | 0.66 | 0.68 | 0.60 | 0.61 | 0.58 | 0.68 | 0.59 | 0.63 | 0.56 | 0.65 | 0.66 | 0.68 | 0.77 | 0.73 | 0.75 | 0.89 | 0.66 | 0.73 | 0.61 | 0.69 | ||||||
| Benchmarks | ||||||||||||||||||||||||||
| Quick Ratio, Competitors2 | ||||||||||||||||||||||||||
| Altria Group Inc. | 0.33 | 0.15 | 0.23 | 0.63 | 0.67 | 0.31 | 0.31 | 0.49 | 0.54 | 0.37 | 0.35 | 0.59 | 0.56 | 0.52 | 0.53 | 0.52 | 0.28 | 0.23 | 0.25 | 0.35 | ||||||
| Coca-Cola Co. | 0.72 | 0.78 | 0.82 | 0.81 | 0.77 | 0.80 | 0.78 | 0.80 | 0.81 | 1.17 | 1.12 | 0.99 | 0.96 | 0.93 | 0.88 | 0.68 | 0.56 | 0.69 | 0.62 | 0.57 | ||||||
| Mondelēz International Inc. | 0.29 | 0.27 | 0.25 | 0.29 | 0.30 | 0.35 | 0.32 | 0.35 | 0.42 | 0.43 | 0.30 | 0.32 | 0.39 | 0.41 | 0.25 | 0.27 | 0.23 | 0.24 | 0.19 | 0.24 | ||||||
Based on: 10-K (reporting date: 2023-12-30), 10-Q (reporting date: 2023-09-09), 10-Q (reporting date: 2023-06-17), 10-Q (reporting date: 2023-03-25), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-03), 10-Q (reporting date: 2022-06-11), 10-Q (reporting date: 2022-03-19), 10-K (reporting date: 2021-12-25), 10-Q (reporting date: 2021-09-04), 10-Q (reporting date: 2021-06-12), 10-Q (reporting date: 2021-03-20), 10-K (reporting date: 2020-12-26), 10-Q (reporting date: 2020-09-05), 10-Q (reporting date: 2020-06-13), 10-Q (reporting date: 2020-03-21), 10-K (reporting date: 2019-12-28), 10-Q (reporting date: 2019-09-07), 10-Q (reporting date: 2019-06-15), 10-Q (reporting date: 2019-03-23).
1 Q4 2023 Calculation
Quick ratio = Total quick assets ÷ Current liabilities
= 20,818 ÷ 31,647 = 0.66
2 Click competitor name to see calculations.
| Liquidity ratio | Description | The company |
|---|---|---|
| Quick ratio | A liquidity ratio calculated as (cash plus short-term marketable investments plus receivables) divided by current liabilities. | PepsiCo Inc. quick ratio improved from Q2 2023 to Q3 2023 but then slightly deteriorated from Q3 2023 to Q4 2023. |
Cash Ratio
PepsiCo Inc., cash ratio calculation (quarterly data)
| Dec 30, 2023 | Sep 9, 2023 | Jun 17, 2023 | Mar 25, 2023 | Dec 31, 2022 | Sep 3, 2022 | Jun 11, 2022 | Mar 19, 2022 | Dec 25, 2021 | Sep 4, 2021 | Jun 12, 2021 | Mar 20, 2021 | Dec 26, 2020 | Sep 5, 2020 | Jun 13, 2020 | Mar 21, 2020 | Dec 28, 2019 | Sep 7, 2019 | Jun 15, 2019 | Mar 23, 2019 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||||||||||||||||||||||
| Cash and cash equivalents | 9,711) | 10,017) | 6,116) | 4,770) | 4,954) | 6,415) | 5,405) | 6,561) | 5,596) | 6,506) | 5,449) | 5,661) | 8,185) | 9,094) | 8,927) | 11,089) | 5,509) | 5,494) | 3,293) | 5,072) | ||||||
| Short-term investments | 292) | 266) | 338) | 434) | 394) | 327) | 287) | 343) | 392) | 344) | 328) | 964) | 1,366) | 611) | 196) | 158) | 229) | 287) | 291) | 289) | ||||||
| Restricted cash | —) | —) | —) | —) | —) | —) | —) | —) | —) | —) | —) | —) | —) | —) | —) | —) | —) | 127) | 150) | 190) | ||||||
| Total cash assets | 10,003) | 10,283) | 6,454) | 5,204) | 5,348) | 6,742) | 5,692) | 6,904) | 5,988) | 6,850) | 5,777) | 6,625) | 9,551) | 9,705) | 9,123) | 11,247) | 5,738) | 5,908) | 3,734) | 5,551) | ||||||
| Current liabilities | 31,647) | 32,660) | 29,618) | 25,837) | 26,785) | 25,653) | 27,223) | 25,824) | 26,220) | 25,077) | 23,623) | 22,693) | 23,372) | 26,009) | 23,827) | 22,078) | 20,461) | 20,131) | 19,928) | 19,090) | ||||||
| Liquidity Ratio | ||||||||||||||||||||||||||
| Cash ratio1 | 0.32 | 0.31 | 0.22 | 0.20 | 0.20 | 0.26 | 0.21 | 0.27 | 0.23 | 0.27 | 0.24 | 0.29 | 0.41 | 0.37 | 0.38 | 0.51 | 0.28 | 0.29 | 0.19 | 0.29 | ||||||
| Benchmarks | ||||||||||||||||||||||||||
| Cash Ratio, Competitors2 | ||||||||||||||||||||||||||
| Altria Group Inc. | 0.33 | 0.15 | 0.07 | 0.43 | 0.47 | 0.31 | 0.31 | 0.49 | 0.53 | 0.36 | 0.32 | 0.58 | 0.55 | 0.50 | 0.51 | 0.50 | 0.26 | 0.21 | 0.23 | 0.33 | ||||||
| Coca-Cola Co. | 0.58 | 0.63 | 0.65 | 0.61 | 0.59 | 0.62 | 0.57 | 0.55 | 0.63 | 0.93 | 0.85 | 0.76 | 0.75 | 0.79 | 0.74 | 0.55 | 0.41 | 0.52 | 0.45 | 0.43 | ||||||
| Mondelēz International Inc. | 0.10 | 0.09 | 0.08 | 0.10 | 0.11 | 0.15 | 0.14 | 0.14 | 0.25 | 0.24 | 0.14 | 0.14 | 0.24 | 0.22 | 0.11 | 0.11 | 0.08 | 0.09 | 0.07 | 0.09 | ||||||
Based on: 10-K (reporting date: 2023-12-30), 10-Q (reporting date: 2023-09-09), 10-Q (reporting date: 2023-06-17), 10-Q (reporting date: 2023-03-25), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-03), 10-Q (reporting date: 2022-06-11), 10-Q (reporting date: 2022-03-19), 10-K (reporting date: 2021-12-25), 10-Q (reporting date: 2021-09-04), 10-Q (reporting date: 2021-06-12), 10-Q (reporting date: 2021-03-20), 10-K (reporting date: 2020-12-26), 10-Q (reporting date: 2020-09-05), 10-Q (reporting date: 2020-06-13), 10-Q (reporting date: 2020-03-21), 10-K (reporting date: 2019-12-28), 10-Q (reporting date: 2019-09-07), 10-Q (reporting date: 2019-06-15), 10-Q (reporting date: 2019-03-23).
1 Q4 2023 Calculation
Cash ratio = Total cash assets ÷ Current liabilities
= 10,003 ÷ 31,647 = 0.32
2 Click competitor name to see calculations.
| Liquidity ratio | Description | The company |
|---|---|---|
| Cash ratio | A liquidity ratio calculated as (cash plus short-term marketable investments) divided by current liabilities. | PepsiCo Inc. cash ratio improved from Q2 2023 to Q3 2023 and from Q3 2023 to Q4 2023. |