Balance Sheet: Liabilities and Stockholders’ Equity
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.
Liabilities represents obligations of a company arising from past events, the settlement of which is expected to result in an outflow of economic benefits from the entity.
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- Statement of Comprehensive Income
- Common-Size Income Statement
- Analysis of Short-term (Operating) Activity Ratios
- Analysis of Reportable Segments
- Common Stock Valuation Ratios
- Enterprise Value (EV)
- Enterprise Value to FCFF (EV/FCFF)
- Net Profit Margin since 2005
- Operating Profit Margin since 2005
- Current Ratio since 2005
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PepsiCo Inc., consolidated balance sheet: liabilities and stockholders’ equity (quarterly data)
US$ in millions
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).
Over the period examined, the company’s financial position demonstrates fluctuating levels of both liabilities and stockholders’ equity. Total liabilities generally remained between $74 billion and $81 billion, with a noticeable increase towards the end of the observed timeframe. Total equity exhibited an upward trend overall, increasing from approximately $14 billion to $21.5 billion, though with some quarterly variations.
- Short-Term Debt Obligations
- Short-term debt obligations displayed considerable volatility. Beginning at $4.674 billion in March 2021, the figure fluctuated before rising significantly to $12.056 billion in June 2025, then decreasing to $6.861 billion in June 2026. This suggests a dynamic approach to short-term financing, potentially linked to operational needs or strategic investments.
- Current Liabilities
- Current liabilities generally increased over the period, moving from $22.693 billion to $34.477 billion. This growth was not linear, with some quarterly declines, but the overall trajectory indicates a rising burden of short-term obligations. A substantial increase is observed between March 2023 and March 2025.
- Long-Term Debt Obligations
- Long-term debt obligations exhibited a relatively stable pattern, generally ranging between $33 billion and $39 billion. A slight upward trend is visible towards the end of the period, reaching $42.577 billion in March 2026. The consistency suggests a deliberate management of long-term financing.
- Total Liabilities
- Total liabilities showed a general increasing trend, rising from $77.171 billion to $110.646 billion. The most significant increase occurred between September 2024 and March 2026. This suggests a growing reliance on debt financing or an expansion of liabilities related to business operations.
- Stockholders’ Equity Components
- Common stock remained constant throughout the period. Capital in excess of par value showed a modest increase, while retained earnings demonstrated a consistent upward trend, reflecting accumulated profits. Accumulated other comprehensive loss remained consistently negative, offsetting some of the gains from retained earnings. Repurchased common stock increased in absolute value (becoming more negative) over time, indicating a consistent share buyback program.
- Total Stockholders’ Equity
- Total stockholders’ equity increased from $14.053 billion to $21.536 billion, demonstrating a strengthening equity position. The growth was not uniform, with periods of slower or stagnant growth, but the overall trend is positive. Noncontrolling interests remained relatively stable, contributing a small portion to total equity.
In summary, the company experienced growth in both liabilities and equity. The increase in liabilities, particularly short-term debt and current liabilities, warrants attention, while the growth in equity provides a positive counterbalance. The consistent share repurchase program and the accumulation of retained earnings are also noteworthy features of the company’s financial structure.