Microsoft Excel LibreOffice Calc

PepsiCo Inc. (PEP)


DuPont Analysis: Decomposition of ROE
Quarterly Data

Difficulty: Beginner


Two-Component Disaggregation of ROE

PepsiCo Inc., decomposition of ROE (quarterly data)

Microsoft Excel LibreOffice Calc
ROE = ROA × Leverage
Mar 23, 2019 88.61% 16.68% 5.31
Dec 29, 2018 86.20% 16.12% 5.35
Sep 8, 2018 48.13% 6.72% 7.16
Jun 16, 2018 45.47% 5.84% 7.79
Mar 24, 2018 44.86% 5.96% 7.52
Dec 30, 2017 44.60% 6.09% 7.33
Sep 9, 2017 52.41% 8.88% 5.90
Jun 17, 2017 54.95% 8.86% 6.20
Mar 25, 2017 58.05% 9.00% 6.45
Dec 31, 2016 57.04% 8.54% 6.68
Sep 3, 2016 52.74% 8.99% 5.86
Jun 11, 2016 42.35% 7.13% 5.94
Mar 19, 2016 46.46% 7.37% 6.30
Dec 26, 2015 45.73% 7.83% 5.84
Sep 5, 2015 37.48% 7.22% 5.19
Jun 13, 2015 39.92% 9.02% 4.42
Mar 21, 2015 41.07% 9.36% 4.39
Dec 27, 2014 37.35% 9.24% 4.04
Sep 6, 2014 3.49
Jun 14, 2014 3.43
Mar 22, 2014 3.40

Based on: 10-Q (filing date: 2019-04-17), 10-K (filing date: 2019-02-15), 10-Q (filing date: 2018-10-02), 10-Q (filing date: 2018-07-10), 10-Q (filing date: 2018-04-26), 10-K (filing date: 2018-02-13), 10-Q (filing date: 2017-10-04), 10-Q (filing date: 2017-07-11), 10-Q (filing date: 2017-04-26), 10-K (filing date: 2017-02-15), 10-Q (filing date: 2016-09-29), 10-Q (filing date: 2016-07-07), 10-Q (filing date: 2016-04-18), 10-K (filing date: 2016-02-11), 10-Q (filing date: 2015-10-06), 10-Q (filing date: 2015-07-09), 10-Q (filing date: 2015-04-23), 10-K (filing date: 2015-02-12), 10-Q (filing date: 2014-10-09), 10-Q (filing date: 2014-07-23), 10-Q (filing date: 2014-04-17).

The primary reason for the increase in Return on Equity (ROE) over Q1 2019 is the increase in profitability measured by Return on Assets (ROA).


Three-Component Disaggregation of ROE

PepsiCo Inc., decomposition of ROE (quarterly data)

Microsoft Excel LibreOffice Calc
ROE = Net Profit Margin × Asset Turnover × Leverage
Mar 23, 2019 88.61% 19.37% 0.86 5.31
Dec 29, 2018 86.20% 19.35% 0.83 5.35
Sep 8, 2018 48.13% 7.66% 0.88 7.16
Jun 16, 2018 45.47% 7.14% 0.82 7.79
Mar 24, 2018 44.86% 7.62% 0.78 7.52
Dec 30, 2017 44.60% 7.65% 0.80 7.33
Sep 9, 2017 52.41% 10.97% 0.81 5.90
Jun 17, 2017 54.95% 10.77% 0.82 6.20
Mar 25, 2017 58.05% 10.66% 0.84 6.45
Dec 31, 2016 57.04% 10.08% 0.85 6.68
Sep 3, 2016 52.74% 10.74% 0.84 5.86
Jun 11, 2016 42.35% 8.34% 0.86 5.94
Mar 19, 2016 46.46% 8.23% 0.90 6.30
Dec 26, 2015 45.73% 8.65% 0.91 5.84
Sep 5, 2015 37.48% 7.83% 0.92 5.19
Jun 13, 2015 39.92% 9.98% 0.90 4.42
Mar 21, 2015 41.07% 9.83% 0.95 4.39
Dec 27, 2014 37.35% 9.77% 0.95 4.04
Sep 6, 2014 3.49
Jun 14, 2014 3.43
Mar 22, 2014 3.40

Based on: 10-Q (filing date: 2019-04-17), 10-K (filing date: 2019-02-15), 10-Q (filing date: 2018-10-02), 10-Q (filing date: 2018-07-10), 10-Q (filing date: 2018-04-26), 10-K (filing date: 2018-02-13), 10-Q (filing date: 2017-10-04), 10-Q (filing date: 2017-07-11), 10-Q (filing date: 2017-04-26), 10-K (filing date: 2017-02-15), 10-Q (filing date: 2016-09-29), 10-Q (filing date: 2016-07-07), 10-Q (filing date: 2016-04-18), 10-K (filing date: 2016-02-11), 10-Q (filing date: 2015-10-06), 10-Q (filing date: 2015-07-09), 10-Q (filing date: 2015-04-23), 10-K (filing date: 2015-02-12), 10-Q (filing date: 2014-10-09), 10-Q (filing date: 2014-07-23), 10-Q (filing date: 2014-04-17).

The primary reason for the increase in Return on Equity (ROE) over Q1 2019 is the increase in efficiency measured by Asset Turnover.


Five-Component Disaggregation of ROE

PepsiCo Inc., decomposition of ROE (quarterly data)

Microsoft Excel LibreOffice Calc
ROE = Tax Burden × Interest Burden × EBIT Margin × Asset Turnover × Leverage
Mar 23, 2019 88.61% 1.34 0.86 16.70% 0.86 5.31
Dec 29, 2018 86.20% 1.37 0.86 16.50% 0.83 5.35
Sep 8, 2018 48.13% 0.52 0.88 16.71% 0.88 7.16
Jun 16, 2018 45.47% 0.48 0.89 16.85% 0.82 7.79
Mar 24, 2018 44.86% 0.51 0.89 16.68% 0.78 7.52
Dec 30, 2017 44.60% 0.51 0.89 16.85% 0.80 7.33
Sep 9, 2017 52.41% 0.77 0.87 16.42% 0.81 5.90
Jun 17, 2017 54.95% 0.77 0.87 16.17% 0.82 6.20
Mar 25, 2017 58.05% 0.76 0.87 16.18% 0.84 6.45
Dec 31, 2016 57.04% 0.74 0.86 15.68% 0.85 6.68
Sep 3, 2016 52.74% 0.77 0.89 15.66% 0.84 5.86
Jun 11, 2016 42.35% 0.72 0.87 13.28% 0.86 5.94
Mar 19, 2016 46.46% 0.72 0.88 13.05% 0.90 6.30
Dec 26, 2015 45.73% 0.74 0.88 13.26% 0.91 5.84
Sep 5, 2015 37.48% 0.70 0.89 12.67% 0.92 5.19
Jun 13, 2015 39.92% 0.75 0.90 14.72% 0.90 4.42
Mar 21, 2015 41.07% 0.75 0.90 14.51% 0.95 4.39
Dec 27, 2014 37.35% 0.75 0.91 14.43% 0.95 4.04
Sep 6, 2014 3.49
Jun 14, 2014 3.43
Mar 22, 2014 3.40

Based on: 10-Q (filing date: 2019-04-17), 10-K (filing date: 2019-02-15), 10-Q (filing date: 2018-10-02), 10-Q (filing date: 2018-07-10), 10-Q (filing date: 2018-04-26), 10-K (filing date: 2018-02-13), 10-Q (filing date: 2017-10-04), 10-Q (filing date: 2017-07-11), 10-Q (filing date: 2017-04-26), 10-K (filing date: 2017-02-15), 10-Q (filing date: 2016-09-29), 10-Q (filing date: 2016-07-07), 10-Q (filing date: 2016-04-18), 10-K (filing date: 2016-02-11), 10-Q (filing date: 2015-10-06), 10-Q (filing date: 2015-07-09), 10-Q (filing date: 2015-04-23), 10-K (filing date: 2015-02-12), 10-Q (filing date: 2014-10-09), 10-Q (filing date: 2014-07-23), 10-Q (filing date: 2014-04-17).

The primary reason for the increase in Return on Equity (ROE) over Q1 2019 is the increase in efficiency measured by Asset Turnover.


Two-Way Decomposition of ROA

PepsiCo Inc., decomposition of ROA (quarterly data)

Microsoft Excel LibreOffice Calc
ROA = Net Profit Margin × Asset Turnover
Mar 23, 2019 16.68% 19.37% 0.86
Dec 29, 2018 16.12% 19.35% 0.83
Sep 8, 2018 6.72% 7.66% 0.88
Jun 16, 2018 5.84% 7.14% 0.82
Mar 24, 2018 5.96% 7.62% 0.78
Dec 30, 2017 6.09% 7.65% 0.80
Sep 9, 2017 8.88% 10.97% 0.81
Jun 17, 2017 8.86% 10.77% 0.82
Mar 25, 2017 9.00% 10.66% 0.84
Dec 31, 2016 8.54% 10.08% 0.85
Sep 3, 2016 8.99% 10.74% 0.84
Jun 11, 2016 7.13% 8.34% 0.86
Mar 19, 2016 7.37% 8.23% 0.90
Dec 26, 2015 7.83% 8.65% 0.91
Sep 5, 2015 7.22% 7.83% 0.92
Jun 13, 2015 9.02% 9.98% 0.90
Mar 21, 2015 9.36% 9.83% 0.95
Dec 27, 2014 9.24% 9.77% 0.95
Sep 6, 2014
Jun 14, 2014
Mar 22, 2014

Based on: 10-Q (filing date: 2019-04-17), 10-K (filing date: 2019-02-15), 10-Q (filing date: 2018-10-02), 10-Q (filing date: 2018-07-10), 10-Q (filing date: 2018-04-26), 10-K (filing date: 2018-02-13), 10-Q (filing date: 2017-10-04), 10-Q (filing date: 2017-07-11), 10-Q (filing date: 2017-04-26), 10-K (filing date: 2017-02-15), 10-Q (filing date: 2016-09-29), 10-Q (filing date: 2016-07-07), 10-Q (filing date: 2016-04-18), 10-K (filing date: 2016-02-11), 10-Q (filing date: 2015-10-06), 10-Q (filing date: 2015-07-09), 10-Q (filing date: 2015-04-23), 10-K (filing date: 2015-02-12), 10-Q (filing date: 2014-10-09), 10-Q (filing date: 2014-07-23), 10-Q (filing date: 2014-04-17).

The primary reason for the increase in Return on Assets (ROA) over Q1 2019 is the increase in Asset Turnover.


Four-Way Decomposition of ROA

PepsiCo Inc., decomposition of ROA (quarterly data)

Microsoft Excel LibreOffice Calc
ROA = Tax Burden × Interest Burden × EBIT Margin × Asset Turnover
Mar 23, 2019 16.68% 1.34 0.86 16.70% 0.86
Dec 29, 2018 16.12% 1.37 0.86 16.50% 0.83
Sep 8, 2018 6.72% 0.52 0.88 16.71% 0.88
Jun 16, 2018 5.84% 0.48 0.89 16.85% 0.82
Mar 24, 2018 5.96% 0.51 0.89 16.68% 0.78
Dec 30, 2017 6.09% 0.51 0.89 16.85% 0.80
Sep 9, 2017 8.88% 0.77 0.87 16.42% 0.81
Jun 17, 2017 8.86% 0.77 0.87 16.17% 0.82
Mar 25, 2017 9.00% 0.76 0.87 16.18% 0.84
Dec 31, 2016 8.54% 0.74 0.86 15.68% 0.85
Sep 3, 2016 8.99% 0.77 0.89 15.66% 0.84
Jun 11, 2016 7.13% 0.72 0.87 13.28% 0.86
Mar 19, 2016 7.37% 0.72 0.88 13.05% 0.90
Dec 26, 2015 7.83% 0.74 0.88 13.26% 0.91
Sep 5, 2015 7.22% 0.70 0.89 12.67% 0.92
Jun 13, 2015 9.02% 0.75 0.90 14.72% 0.90
Mar 21, 2015 9.36% 0.75 0.90 14.51% 0.95
Dec 27, 2014 9.24% 0.75 0.91 14.43% 0.95
Sep 6, 2014
Jun 14, 2014
Mar 22, 2014

Based on: 10-Q (filing date: 2019-04-17), 10-K (filing date: 2019-02-15), 10-Q (filing date: 2018-10-02), 10-Q (filing date: 2018-07-10), 10-Q (filing date: 2018-04-26), 10-K (filing date: 2018-02-13), 10-Q (filing date: 2017-10-04), 10-Q (filing date: 2017-07-11), 10-Q (filing date: 2017-04-26), 10-K (filing date: 2017-02-15), 10-Q (filing date: 2016-09-29), 10-Q (filing date: 2016-07-07), 10-Q (filing date: 2016-04-18), 10-K (filing date: 2016-02-11), 10-Q (filing date: 2015-10-06), 10-Q (filing date: 2015-07-09), 10-Q (filing date: 2015-04-23), 10-K (filing date: 2015-02-12), 10-Q (filing date: 2014-10-09), 10-Q (filing date: 2014-07-23), 10-Q (filing date: 2014-04-17).

The primary reason for the increase in Return on Assets (ROA) over Q1 2019 is the increase in efficiency measured by Asset Turnover.


Decomposition of Net Profit Margin

PepsiCo Inc., decomposition of Net Profit Margin (quarterly data)

Microsoft Excel LibreOffice Calc
Net Profit Margin = Tax Burden × Interest Burden × EBIT Margin
Mar 23, 2019 19.37% 1.34 0.86 16.70%
Dec 29, 2018 19.35% 1.37 0.86 16.50%
Sep 8, 2018 7.66% 0.52 0.88 16.71%
Jun 16, 2018 7.14% 0.48 0.89 16.85%
Mar 24, 2018 7.62% 0.51 0.89 16.68%
Dec 30, 2017 7.65% 0.51 0.89 16.85%
Sep 9, 2017 10.97% 0.77 0.87 16.42%
Jun 17, 2017 10.77% 0.77 0.87 16.17%
Mar 25, 2017 10.66% 0.76 0.87 16.18%
Dec 31, 2016 10.08% 0.74 0.86 15.68%
Sep 3, 2016 10.74% 0.77 0.89 15.66%
Jun 11, 2016 8.34% 0.72 0.87 13.28%
Mar 19, 2016 8.23% 0.72 0.88 13.05%
Dec 26, 2015 8.65% 0.74 0.88 13.26%
Sep 5, 2015 7.83% 0.70 0.89 12.67%
Jun 13, 2015 9.98% 0.75 0.90 14.72%
Mar 21, 2015 9.83% 0.75 0.90 14.51%
Dec 27, 2014 9.77% 0.75 0.91 14.43%
Sep 6, 2014
Jun 14, 2014
Mar 22, 2014

Based on: 10-Q (filing date: 2019-04-17), 10-K (filing date: 2019-02-15), 10-Q (filing date: 2018-10-02), 10-Q (filing date: 2018-07-10), 10-Q (filing date: 2018-04-26), 10-K (filing date: 2018-02-13), 10-Q (filing date: 2017-10-04), 10-Q (filing date: 2017-07-11), 10-Q (filing date: 2017-04-26), 10-K (filing date: 2017-02-15), 10-Q (filing date: 2016-09-29), 10-Q (filing date: 2016-07-07), 10-Q (filing date: 2016-04-18), 10-K (filing date: 2016-02-11), 10-Q (filing date: 2015-10-06), 10-Q (filing date: 2015-07-09), 10-Q (filing date: 2015-04-23), 10-K (filing date: 2015-02-12), 10-Q (filing date: 2014-10-09), 10-Q (filing date: 2014-07-23), 10-Q (filing date: 2014-04-17).

The primary reason for the increase in Net Profit Margin over Q1 2019 is the increase in operating profitability measured by EBIT Margin.