Price to Earnings (P/E)
since 2005
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PepsiCo Inc. pages available for free this week:
- Balance Sheet: Assets
- Common-Size Income Statement
- Analysis of Long-term (Investment) Activity Ratios
- DuPont Analysis: Disaggregation of ROE, ROA, and Net Profit Margin
- Analysis of Reportable Segments
- Analysis of Geographic Areas
- Enterprise Value to EBITDA (EV/EBITDA)
- Price to FCFE (P/FCFE)
- Return on Equity (ROE) since 2005
- Debt to Equity since 2005
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Calculation
PepsiCo Inc., P/E, long-term trends, calculation
| P/E | = | Share price1, 2, 3 | ÷ | Earnings per share1 (EPS) | EPS1 | = | Net income available for PepsiCo common shareholders1 (in millions) | ÷ | No. shares of common stock outstanding2 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Feb 4, 2025 | = | ÷ | = | ÷ | |||||||
| Feb 9, 2024 | = | ÷ | = | ÷ | |||||||
| Feb 9, 2023 | = | ÷ | = | ÷ | |||||||
| Feb 10, 2022 | = | ÷ | = | ÷ | |||||||
| Feb 11, 2021 | = | ÷ | = | ÷ | |||||||
| Feb 13, 2020 | = | ÷ | = | ÷ | |||||||
| Feb 15, 2019 | = | ÷ | = | ÷ | |||||||
| Feb 13, 2018 | = | ÷ | = | ÷ | |||||||
| Feb 15, 2017 | = | ÷ | = | ÷ | |||||||
| Feb 11, 2016 | = | ÷ | = | ÷ | |||||||
| Feb 12, 2015 | = | ÷ | = | ÷ | |||||||
| Feb 14, 2014 | = | ÷ | = | ÷ | |||||||
| Feb 21, 2013 | = | ÷ | = | ÷ | |||||||
| Feb 27, 2012 | = | ÷ | = | ÷ | |||||||
| Feb 18, 2011 | = | ÷ | = | ÷ | |||||||
| Feb 22, 2010 | = | ÷ | = | ÷ | |||||||
| Feb 19, 2009 | = | ÷ | = | ÷ | |||||||
| Feb 15, 2008 | = | ÷ | = | ÷ | |||||||
| Feb 20, 2007 | = | ÷ | = | ÷ | |||||||
| Feb 27, 2006 | = | ÷ | = | ÷ |
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), 10-K (reporting date: 2019-12-28), 10-K (reporting date: 2018-12-29), 10-K (reporting date: 2017-12-30), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-26), 10-K (reporting date: 2014-12-27), 10-K (reporting date: 2013-12-28), 10-K (reporting date: 2012-12-29), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-25), 10-K (reporting date: 2009-12-26), 10-K (reporting date: 2008-12-27), 10-K (reporting date: 2007-12-29), 10-K (reporting date: 2006-12-30), 10-K (reporting date: 2005-12-31).
1 US$
2 Data adjusted for splits and stock dividends.
3 Closing price as at the filing date of PepsiCo Inc. Annual Report.
- Share Price Trend
- The share price experienced fluctuations over the analyzed period. Starting at $59.51 in early 2006, it generally increased until 2008, reaching $71.73, before declining to $52.20 in 2009. From 2010 onwards, a mostly upward trajectory was observed, peaking at $172.78 in early 2023. However, a decline followed, with the price dropping to $143.49 by early 2025. This pattern indicates periods of volatility with a long-term growth trend interrupted by short-term corrections.
- Earnings Per Share (EPS) Development
- EPS showed growth from $2.45 in 2006 to $4.10 in 2012 with some variability in interim years, reflecting moderate earnings improvement. Notable fluctuations were seen around 2018 when EPS dropped to $3.42 sharply before surging to $8.91 in 2019. Subsequently, EPS stabilized in the range of approximately $5.16 to $6.98 by early 2025. This volatility suggests episodic earnings impact from extraordinary items or other factors influencing net income.
- Price-to-Earnings (P/E) Ratio Analysis
- The P/E ratio ranged from a low of 13.01 in 2019 to a high of 32.81 in 2018, showing significant volatility. The ratio generally hovered in the mid-teens to mid-twenties during most of the years, indicating relative price stability compared to earnings. Elevated P/E ratios in late 2017 and 2018, followed by a drop in 2019, correspond to the EPS fluctuation, highlighting market revaluation in response to earnings shocks. Recent years show a decrease in P/E from 30.58 in 2022 to 20.55 in 2025, suggesting a relative re-pricing or normalization in investor expectations regarding the company’s earnings potential.
- Overall Insights
- The share price and EPS trends generally correlate, with earnings growth supporting increases in stock valuation. Nonetheless, significant year-to-year changes in EPS and P/E highlight periods of earnings distress or exceptional items impacting market valuations. The peak P/E ratios around 2017-2018, combined with volatile EPS, imply market uncertainty or revaluation during that timeframe. The recent downward adjustments in price despite relatively stable or increasing EPS suggest caution or market skepticism regarding future growth prospects.
Comparison to Competitors
PepsiCo Inc., P/E, long-term trends, comparison to competitors
| PepsiCo Inc. | Coca-Cola Co. | Mondelēz International Inc. | Philip Morris International Inc. | |
|---|---|---|---|---|
| Feb 4, 2025 | ||||
| Feb 9, 2024 | ||||
| Feb 9, 2023 | ||||
| Feb 10, 2022 | ||||
| Feb 11, 2021 | ||||
| Feb 13, 2020 | ||||
| Feb 15, 2019 | ||||
| Feb 13, 2018 | ||||
| Feb 15, 2017 | ||||
| Feb 11, 2016 | ||||
| Feb 12, 2015 | ||||
| Feb 14, 2014 | ||||
| Feb 21, 2013 | ||||
| Feb 27, 2012 | ||||
| Feb 18, 2011 | ||||
| Feb 22, 2010 | ||||
| Feb 19, 2009 | ||||
| Feb 15, 2008 | ||||
| Feb 20, 2007 | ||||
| Feb 27, 2006 |
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), 10-K (reporting date: 2019-12-28), 10-K (reporting date: 2018-12-29), 10-K (reporting date: 2017-12-30), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-26), 10-K (reporting date: 2014-12-27), 10-K (reporting date: 2013-12-28), 10-K (reporting date: 2012-12-29), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-25), 10-K (reporting date: 2009-12-26), 10-K (reporting date: 2008-12-27), 10-K (reporting date: 2007-12-29), 10-K (reporting date: 2006-12-30), 10-K (reporting date: 2005-12-31).
Comparison to Sector (Food, Beverage & Tobacco)
PepsiCo Inc., P/E, long-term trends, comparison to sector (food, beverage & tobacco)
| PepsiCo Inc. | Food, Beverage & Tobacco | |
|---|---|---|
| Feb 4, 2025 | ||
| Feb 9, 2024 | ||
| Feb 9, 2023 | ||
| Feb 10, 2022 | ||
| Feb 11, 2021 | ||
| Feb 13, 2020 | ||
| Feb 15, 2019 | ||
| Feb 13, 2018 | ||
| Feb 15, 2017 | ||
| Feb 11, 2016 | ||
| Feb 12, 2015 | ||
| Feb 14, 2014 | ||
| Feb 21, 2013 | ||
| Feb 27, 2012 | ||
| Feb 18, 2011 | ||
| Feb 22, 2010 | ||
| Feb 19, 2009 | ||
| Feb 15, 2008 | ||
| Feb 20, 2007 | ||
| Feb 27, 2006 |
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), 10-K (reporting date: 2019-12-28), 10-K (reporting date: 2018-12-29), 10-K (reporting date: 2017-12-30), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-26), 10-K (reporting date: 2014-12-27), 10-K (reporting date: 2013-12-28), 10-K (reporting date: 2012-12-29), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-25), 10-K (reporting date: 2009-12-26), 10-K (reporting date: 2008-12-27), 10-K (reporting date: 2007-12-29), 10-K (reporting date: 2006-12-30), 10-K (reporting date: 2005-12-31).
Comparison to Industry (Consumer Staples)
PepsiCo Inc., P/E, long-term trends, comparison to industry (consumer staples)
| PepsiCo Inc. | Consumer Staples | |
|---|---|---|
| Feb 4, 2025 | ||
| Feb 9, 2024 | ||
| Feb 9, 2023 | ||
| Feb 10, 2022 | ||
| Feb 11, 2021 | ||
| Feb 13, 2020 | ||
| Feb 15, 2019 | ||
| Feb 13, 2018 | ||
| Feb 15, 2017 | ||
| Feb 11, 2016 | ||
| Feb 12, 2015 | ||
| Feb 14, 2014 | ||
| Feb 21, 2013 | ||
| Feb 27, 2012 | ||
| Feb 18, 2011 | ||
| Feb 22, 2010 | ||
| Feb 19, 2009 | ||
| Feb 15, 2008 | ||
| Feb 20, 2007 | ||
| Feb 27, 2006 |
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), 10-K (reporting date: 2019-12-28), 10-K (reporting date: 2018-12-29), 10-K (reporting date: 2017-12-30), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-26), 10-K (reporting date: 2014-12-27), 10-K (reporting date: 2013-12-28), 10-K (reporting date: 2012-12-29), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-25), 10-K (reporting date: 2009-12-26), 10-K (reporting date: 2008-12-27), 10-K (reporting date: 2007-12-29), 10-K (reporting date: 2006-12-30), 10-K (reporting date: 2005-12-31).