Return on Equity (ROE)
since 2005
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PepsiCo Inc. pages available for free this week:
- 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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Calculation
PepsiCo Inc., ROE, long-term trends, calculation
| ROE | = | 100 | × | Net income attributable to PepsiCo1 | ÷ | Total PepsiCo shareholders’ equity1 | |
|---|---|---|---|---|---|---|---|
| Dec 28, 2024 | = | 100 | × | ÷ | |||
| Dec 30, 2023 | = | 100 | × | ÷ | |||
| Dec 31, 2022 | = | 100 | × | ÷ | |||
| Dec 25, 2021 | = | 100 | × | ÷ | |||
| Dec 26, 2020 | = | 100 | × | ÷ | |||
| Dec 28, 2019 | = | 100 | × | ÷ | |||
| Dec 29, 2018 | = | 100 | × | ÷ | |||
| Dec 30, 2017 | = | 100 | × | ÷ | |||
| Dec 31, 2016 | = | 100 | × | ÷ | |||
| Dec 26, 2015 | = | 100 | × | ÷ | |||
| Dec 27, 2014 | = | 100 | × | ÷ | |||
| Dec 28, 2013 | = | 100 | × | ÷ | |||
| Dec 29, 2012 | = | 100 | × | ÷ | |||
| Dec 31, 2011 | = | 100 | × | ÷ | |||
| Dec 25, 2010 | = | 100 | × | ÷ | |||
| Dec 26, 2009 | = | 100 | × | ÷ | |||
| Dec 27, 2008 | = | 100 | × | ÷ | |||
| Dec 29, 2007 | = | 100 | × | ÷ | |||
| Dec 30, 2006 | = | 100 | × | ÷ | |||
| Dec 31, 2005 | = | 100 | × | ÷ |
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$ in millions
- Net Income Attributable to PepsiCo
- The net income exhibited variability across the years. From 2005 to 2007, net income increased steadily, peaking around 5,658 million US dollars in 2007. There was a decline in 2008, followed by a general upward trend with some fluctuations until 2019, where net income sharply rose to its highest point at 12,515 million US dollars. After 2019, net income declined substantially in 2020, then showed a gradual increase through 2024, reaching 9,578 million US dollars.
- Total PepsiCo Shareholders’ Equity
- Shareholders' equity followed a less consistent pattern. It showed an initial increase from 14,251 million US dollars in 2005 to a peak of 24,279 million US dollars in 2013. Subsequently, equity decreased notably until 2016 with values falling to 10,889 million US dollars. Post-2016, the equity base grew again, stabilizing around the 18,000 million US dollars range by 2024, albeit with a slight dip at the end.
- Return on Equity (ROE)
- The ROE demonstrated significant fluctuations over the period. Starting at 28.62% in 2005, it increased to a peak of 42.47% in 2008. In subsequent years, ROE showed a rising trend with notable spikes, reaching a peak of 86.2% in 2018. From this peak, it slightly declined but remained high, maintaining levels above 45% through to 2024. High ROE levels suggest strong profitability relative to shareholders' equity, especially during the latter years despite fluctuations in equity values.
- Summary Insight
- The period analyzed reveals a complex relationship between net income, shareholders' equity, and ROE. Net income growth was generally positive with a peak in 2019, followed by recovery after a 2020 dip. Shareholders' equity fluctuated with a peak in 2013, then a decline, and partial recovery thereafter. Despite volatility in equity and income, ROE remained strong, especially in the last decade, indicating efficient use of equity capital to generate profits. The sharp ROE peak in 2018 suggests exceptional profitability efficiency during that year, possibly due to reduced equity base or increased earnings. Overall, the company showed resilience and maintained solid profitability over the long term.
Comparison to Competitors
PepsiCo Inc., ROE, long-term trends, comparison to competitors
| PepsiCo Inc. | Coca-Cola Co. | Mondelēz International Inc. | Philip Morris International Inc. | |
|---|---|---|---|---|
| Dec 28, 2024 | ||||
| Dec 30, 2023 | ||||
| Dec 31, 2022 | ||||
| Dec 25, 2021 | ||||
| Dec 26, 2020 | ||||
| Dec 28, 2019 | ||||
| Dec 29, 2018 | ||||
| Dec 30, 2017 | ||||
| Dec 31, 2016 | ||||
| Dec 26, 2015 | ||||
| Dec 27, 2014 | ||||
| Dec 28, 2013 | ||||
| Dec 29, 2012 | ||||
| Dec 31, 2011 | ||||
| Dec 25, 2010 | ||||
| Dec 26, 2009 | ||||
| Dec 27, 2008 | ||||
| Dec 29, 2007 | ||||
| Dec 30, 2006 | ||||
| Dec 31, 2005 |
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., ROE, long-term trends, comparison to sector (food, beverage & tobacco)
| PepsiCo Inc. | Food, Beverage & Tobacco | |
|---|---|---|
| Dec 28, 2024 | ||
| Dec 30, 2023 | ||
| Dec 31, 2022 | ||
| Dec 25, 2021 | ||
| Dec 26, 2020 | ||
| Dec 28, 2019 | ||
| Dec 29, 2018 | ||
| Dec 30, 2017 | ||
| Dec 31, 2016 | ||
| Dec 26, 2015 | ||
| Dec 27, 2014 | ||
| Dec 28, 2013 | ||
| Dec 29, 2012 | ||
| Dec 31, 2011 | ||
| Dec 25, 2010 | ||
| Dec 26, 2009 | ||
| Dec 27, 2008 | ||
| Dec 29, 2007 | ||
| Dec 30, 2006 | ||
| Dec 31, 2005 |
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., ROE, long-term trends, comparison to industry (consumer staples)
| PepsiCo Inc. | Consumer Staples | |
|---|---|---|
| Dec 28, 2024 | ||
| Dec 30, 2023 | ||
| Dec 31, 2022 | ||
| Dec 25, 2021 | ||
| Dec 26, 2020 | ||
| Dec 28, 2019 | ||
| Dec 29, 2018 | ||
| Dec 30, 2017 | ||
| Dec 31, 2016 | ||
| Dec 26, 2015 | ||
| Dec 27, 2014 | ||
| Dec 28, 2013 | ||
| Dec 29, 2012 | ||
| Dec 31, 2011 | ||
| Dec 25, 2010 | ||
| Dec 26, 2009 | ||
| Dec 27, 2008 | ||
| Dec 29, 2007 | ||
| Dec 30, 2006 | ||
| Dec 31, 2005 |
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).