Stock Analysis on Net

PepsiCo Inc. (NASDAQ:PEP)

$24.99

Balance Sheet: Assets
Quarterly Data

The balance sheet provides creditors, investors, and analysts with information on company resources (assets) and its sources of capital (its equity and liabilities). It normally also provides information about the future earnings capacity of a company assets as well as an indication of cash flows that may come from receivables and inventories.

Assets are resources controlled by the company as a result of past events and from which future economic benefits are expected to flow to the entity.

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PepsiCo Inc., consolidated balance sheet: assets (quarterly data)

US$ in millions

Microsoft Excel
Mar 22, 2025 Dec 28, 2024 Sep 7, 2024 Jun 15, 2024 Mar 23, 2024 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
Cash and cash equivalents
Short-term investments
Accounts and notes receivable, less allowance
Raw materials and packaging
Work-in-process
Finished goods
Inventories
Prepaid expenses and other current assets
Assets held for sale
Current assets
Property, plant and equipment
Accumulated depreciation
Property, plant and equipment, net
Amortizable intangible assets, net
Goodwill
Other indefinite-lived intangible assets
Intangible assets
Investments in noncontrolled affiliates
Deferred income taxes
Other assets
Noncurrent assets
Total assets

Based on: 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), 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).


Cash and Cash Equivalents
The cash and cash equivalents exhibited volatility across the reported periods. There was a notable decline in early 2021, reaching a low around March 2021, followed by a recovery and peak in September 2023. However, subsequent quarters through March 2025 saw a decrease again, settling near levels lower than the previous peak.
Short-term Investments
Short-term investments fluctuated without a clear long-term trend. Peaks were observed in early 2021 and again towards the end of 2024, while troughs appeared mid-2021 and in early 2023, indicating potential tactical liquidity management or market-driven reallocations.
Accounts and Notes Receivable
The accounts and notes receivable generally increased over time, with some quarterly variability. The upward trend suggests growth in sales or extended credit terms, peaking around September 2023 and remaining relatively high through early 2025.
Inventories
Raw materials and packaging, work-in-process, and finished goods combined to form the inventory figures. Inventories increased from early 2020 to mid-2021 but showed a decline towards the end of 2021, followed by another increase peaking in mid-2023. Subsequently, slight dips occurred but the overall inventory level remained elevated compared to the start of the period, indicating fluctuating stock accumulation potentially tied to demand or supply chain considerations.
Prepaid Expenses and Other Current Assets
This category showed irregular changes with spikes occurring in some quarters such as March 2022 and June 2024, while other periods saw declines. The variability may reflect changes in expense timing and other operational adjustments.
Assets Held for Sale
Assets held for sale were recognized only in late 2020 and early 2021 before disappearing from the records, suggesting a completed divestiture or reclassification of assets during that timeframe.
Current Assets
Current assets as a whole fluctuated but showed an upward movement starting mid-2022 through late 2023, peaking around September 2023. The increase corresponds largely with changes in inventories and prepaid expenses, indicating growth in short-term resource holdings.
Property, Plant, and Equipment (PP&E) and Net PP&E
Gross PP&E steadily increased across the entire time span, indicating continuous investment in fixed assets. Accumulated depreciation also rose, but net PP&E followed an increasing trend, especially pronounced from late 2022 onward, reflecting net asset growth and capital expenditure outweighing depreciation expenses.
Intangible Assets
Amortizable intangible assets decreased gradually, implying ongoing amortization charges surpassing new additions. Goodwill and other indefinite-lived intangible assets declined modestly over time, with some stabilization or slight recovery near the end of the series. Overall intangible asset values showed a subtle downward trend with modest fluctuations.
Investments in Noncontrolled Affiliates
This asset category showed a decline from 2022 onward, with a significant reduction by early 2025, indicating disposals, impairments, or reclassifications impacting equity investments.
Deferred Income Taxes
Deferred tax assets remained relatively stable throughout the periods, showing only minor fluctuations and no significant trend, suggesting consistent tax deferral positions.
Other Assets
Other assets gradually increased over time with some variability. The steady growth indicates the accumulation of miscellaneous long-term assets, which may include investments, deposits, or intangible rights not classified elsewhere.
Noncurrent Assets and Total Assets
Noncurrent assets increased moderately over the analyzed quarters, reflecting additions in PP&E and other long-term asset categories. Total assets showed a slight upward trajectory with periodic fluctuations, ending higher in 2025 relative to 2020, suggesting incremental growth in the overall asset base.

Assets: Selected Items


Current Assets: Selected Items