Common-Size Balance Sheet: Liabilities and Stockholders’ Equity
Quarterly Data
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- Balance Sheet: Assets
- Analysis of Liquidity Ratios
- Analysis of Solvency Ratios
- Analysis of Short-term (Operating) Activity Ratios
- Common Stock Valuation Ratios
- Enterprise Value to FCFF (EV/FCFF)
- Return on Equity (ROE) since 2005
- Current Ratio since 2005
- Price to Book Value (P/BV) since 2005
- Price to Sales (P/S) since 2005
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PepsiCo Inc., common-size consolidated balance sheet: liabilities and stockholders’ equity (quarterly data)
Based on: 10-Q (reporting date: 2026-03-21), 10-K (reporting date: 2025-12-27), 10-Q (reporting date: 2025-09-06), 10-Q (reporting date: 2025-06-14), 10-Q (reporting date: 2025-03-22), 10-K (reporting date: 2024-12-28), 10-Q (reporting date: 2024-09-07), 10-Q (reporting date: 2024-06-15), 10-Q (reporting date: 2024-03-23), 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).
The composition of liabilities and stockholders’ equity exhibited several notable trends over the observed period from March 2021 to December 2026. Overall, the proportion of total liabilities remained consistently high, generally fluctuating between 81% and 85% of the total, while equity represented the remaining portion. Within both liabilities and equity, specific components demonstrated distinct patterns.
- Short-Term Debt Obligations
- Short-term debt obligations as a percentage of total liabilities and equity showed considerable volatility. Beginning at 5.12% in March 2021, it generally remained below 7% before increasing significantly to 11.44% in June 2025. A subsequent decrease was observed, falling to 7.12% by December 2024, followed by a rise to 11.44% in June 2025, and then a decline to 6.39% by December 2025. This suggests a more active use of short-term financing at certain points in the period.
- Current Liabilities
- Current liabilities consistently comprised a substantial portion of total liabilities and equity, ranging from approximately 25% to 33%. A general upward trend was apparent from March 2021 through September 2023, peaking at 32.68%. A slight decline was then observed through December 2023, followed by a rebound to 31.16% in March 2026. Accounts payable and other current liabilities were the primary driver of this trend, consistently representing between 19% and 26% of the total.
- Long-Term Debt Obligations
- Long-term debt obligations, excluding current maturities, represented a significant and relatively stable portion of the capital structure, typically between 35% and 43%. A gradual decline was observed from 42.74% in March 2021 to a low of 35.71% in June 2022, followed by a period of fluctuation. By September 2025, this component increased to 41.40%, before decreasing to 39.41% by December 2025.
- Equity Components
- Retained earnings consistently formed the largest component of equity, generally ranging between 66% and 74%. A clear upward trend in retained earnings was observed throughout the period, indicating consistent profitability and reinvestment of earnings. Accumulated other comprehensive loss consistently represented a negative portion of equity, ranging from -13% to -17%, and showed a gradual decrease in magnitude over time. Repurchased common stock also consistently represented a negative portion of equity, fluctuating between -37% and -42%, suggesting ongoing share repurchase activity. The proportion of common stock and capital in excess of par value remained relatively small and stable, each consistently below 5%.
- Total Liabilities and Equity
- The overall proportion of total liabilities remained relatively stable, fluctuating within a narrow range. The increase in equity, primarily driven by retained earnings, partially offset the fluctuations in liabilities, maintaining a relatively consistent overall capital structure. The slight decrease in total liabilities towards the end of the period suggests a potential shift towards greater reliance on equity financing.
In summary, the company maintained a capital structure heavily reliant on liabilities. While short-term debt exhibited volatility, long-term debt remained relatively stable. Equity gradually increased, driven by retained earnings, and the proportion of total liabilities remained consistently high throughout the analyzed period.