Analysis of Inventory
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- Balance Sheet: Liabilities and Stockholders’ Equity
- Common-Size Income Statement
- Analysis of Liquidity Ratios
- Analysis of Long-term (Investment) Activity Ratios
- Enterprise Value to EBITDA (EV/EBITDA)
- Dividend Discount Model (DDM)
- Present Value of Free Cash Flow to Equity (FCFE)
- Selected Financial Data since 2005
- Price to Sales (P/S) since 2005
- Analysis of Revenues
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Inventory Disclosure
PepsiCo Inc., balance sheet: inventory
US$ in millions
| Dec 28, 2024 | Dec 30, 2023 | Dec 31, 2022 | Dec 25, 2021 | Dec 26, 2020 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Raw materials and packaging | |||||||||||
| Work-in-process | |||||||||||
| Finished goods | |||||||||||
| Inventories |
Based on: 10-K (reporting date: 2024-12-28), 10-K (reporting date: 2023-12-30), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-25), 10-K (reporting date: 2020-12-26).
- Raw materials and packaging
- The value of raw materials and packaging has shown a consistent upward trend over the five-year period. Starting at $1,720 million in 2020, it increased to $1,898 million in 2021, followed by a more significant rise to $2,366 million in 2022. In 2023, the growth rate slowed slightly, reaching $2,388 million, and further increased to $2,440 million in 2024. This suggests a steady increase in either the cost or volume of raw materials and packaging used by the company.
- Work-in-process
- Work-in-process inventory exhibited a declining trend throughout the period. It decreased from $205 million in 2020 to $151 million in 2021. The decline continued more sharply to $114 million in 2022 and then leveled off somewhat at $104 million in both 2023 and 2024. This reduction may indicate improved production efficiency or changes in inventory management, resulting in lower unfinished goods at period-end.
- Finished goods
- Finished goods inventory showed a consistent increase from 2020 to 2023. It rose from $2,247 million in 2020 to $2,298 million in 2021, then to $2,742 million in 2022 and $2,842 million in 2023. However, in 2024 there was a slight reduction to $2,762 million. The growth until 2023 could reflect an accumulation of products ready for sale, possibly anticipating higher demand, while the slight dip in 2024 might indicate higher sales or a strategic reduction in inventory levels.
- Inventories (total)
- Total inventories, which include raw materials, work-in-process, and finished goods, have increased steadily from $4,172 million in 2020 to $5,306 million in 2024. The rise is more pronounced between 2021 and 2023, with a moderate increase in 2024. This overall growth in inventory levels may reflect expansions in production capacity, increased product offerings, or stockpiling in response to market conditions. The inventory composition shifts show that while raw materials and finished goods inventories have increased, work-in-process has decreased, suggesting changes in production flow or inventory control strategies.