Stock Analysis on Net
Stock Analysis on Net
Microsoft Excel LibreOffice Calc

PepsiCo Inc. (NASDAQ:PEP)

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Analysis of Solvency Ratios

Beginner level


Solvency Ratios (Summary)

PepsiCo Inc., solvency ratios

Microsoft Excel LibreOffice Calc
Dec 28, 2019 Dec 29, 2018 Dec 30, 2017 Dec 31, 2016 Dec 26, 2015
Debt Ratios
Debt to equity
Debt to equity (including operating lease liability)
Debt to capital
Debt to capital (including operating lease liability)
Debt to assets
Debt to assets (including operating lease liability)
Financial leverage
Coverage Ratios
Interest coverage
Fixed charge coverage

Based on: 10-K (filing date: 2020-02-13), 10-K (filing date: 2019-02-15), 10-K (filing date: 2018-02-13), 10-K (filing date: 2017-02-15), 10-K (filing date: 2016-02-11).

Solvency ratio Description The company
Debt to equity ratio A solvency ratio calculated as total debt divided by total shareholders’ equity. PepsiCo Inc.’s debt to equity ratio improved from 2017 to 2018 and from 2018 to 2019.
Debt to equity ratio (including operating lease liability) A solvency ratio calculated as total debt (including operating lease liability) divided by total shareholders’ equity. PepsiCo Inc.’s debt to equity ratio (including operating lease liability) improved from 2017 to 2018 but then slightly deteriorated from 2018 to 2019.
Debt to capital ratio A solvency ratio calculated as total debt divided by total debt plus shareholders’ equity. PepsiCo Inc.’s debt to capital ratio improved from 2017 to 2018 and from 2018 to 2019.
Debt to capital ratio (including operating lease liability) A solvency ratio calculated as total debt (including operating lease liability) divided by total debt (including operating lease liability) plus shareholders’ equity. PepsiCo Inc.’s debt to capital ratio (including operating lease liability) improved from 2017 to 2018 but then slightly deteriorated from 2018 to 2019.
Debt to assets ratio A solvency ratio calculated as total debt divided by total assets. PepsiCo Inc.’s debt to assets ratio improved from 2017 to 2018 and from 2018 to 2019.
Debt to assets ratio (including operating lease liability) A solvency ratio calculated as total debt (including operating lease liability) divided by total assets. PepsiCo Inc.’s debt to assets ratio (including operating lease liability) improved from 2017 to 2018 but then slightly deteriorated from 2018 to 2019.
Financial leverage ratio A solvency ratio calculated as total assets divided by total shareholders’ equity. PepsiCo Inc.’s financial leverage ratio decreased from 2017 to 2018 and from 2018 to 2019.

Solvency ratio Description The company
Interest coverage ratio A solvency ratio calculated as EBIT divided by interest payments. PepsiCo Inc.’s interest coverage ratio deteriorated from 2017 to 2018 but then improved from 2018 to 2019 not reaching 2017 level.
Fixed charge coverage ratio A solvency ratio calculated as earnings before fixed charges and tax divided by fixed charges. PepsiCo Inc.’s fixed charge coverage ratio deteriorated from 2017 to 2018 but then improved from 2018 to 2019 exceeding 2017 level.

Debt to Equity

PepsiCo Inc., debt to equity calculation, comparison to benchmarks

Microsoft Excel LibreOffice Calc
Dec 28, 2019 Dec 29, 2018 Dec 30, 2017 Dec 31, 2016 Dec 26, 2015
Selected Financial Data (US$ in millions)
Short-term debt obligations
Long-term debt obligations
Total debt
 
Total PepsiCo shareholders’ equity
Solvency Ratio
Debt to equity1
Benchmarks
Debt to Equity, Competitors2
Coca-Cola Co.
Debt to Equity, Sector
Beverages
Debt to Equity, Industry
Consumer Goods

Based on: 10-K (filing date: 2020-02-13), 10-K (filing date: 2019-02-15), 10-K (filing date: 2018-02-13), 10-K (filing date: 2017-02-15), 10-K (filing date: 2016-02-11).

1 2019 Calculation
Debt to equity = Total debt ÷ Total PepsiCo shareholders’ equity
= ÷ =

2 Click competitor name to see calculations.

Solvency ratio Description The company
Debt to equity ratio A solvency ratio calculated as total debt divided by total shareholders’ equity. PepsiCo Inc.’s debt to equity ratio improved from 2017 to 2018 and from 2018 to 2019.

Debt to Equity (including Operating Lease Liability)

PepsiCo Inc., debt to equity (including operating lease liability) calculation, comparison to benchmarks

Microsoft Excel LibreOffice Calc
Dec 28, 2019 Dec 29, 2018 Dec 30, 2017 Dec 31, 2016 Dec 26, 2015
Selected Financial Data (US$ in millions)
Short-term debt obligations
Long-term debt obligations
Total debt
Current lease liabilities
Non-current lease liabilities (classified in Other liabilities)
Total debt (including operating lease liability)
 
Total PepsiCo shareholders’ equity
Solvency Ratio
Debt to equity (including operating lease liability)1
Benchmarks
Debt to Equity (including Operating Lease Liability), Competitors2
Coca-Cola Co.
Debt to Equity (including Operating Lease Liability), Sector
Beverages
Debt to Equity (including Operating Lease Liability), Industry
Consumer Goods

Based on: 10-K (filing date: 2020-02-13), 10-K (filing date: 2019-02-15), 10-K (filing date: 2018-02-13), 10-K (filing date: 2017-02-15), 10-K (filing date: 2016-02-11).

1 2019 Calculation
Debt to equity (including operating lease liability) = Total debt (including operating lease liability) ÷ Total PepsiCo shareholders’ equity
= ÷ =

2 Click competitor name to see calculations.

Solvency ratio Description The company
Debt to equity ratio (including operating lease liability) A solvency ratio calculated as total debt (including operating lease liability) divided by total shareholders’ equity. PepsiCo Inc.’s debt to equity ratio (including operating lease liability) improved from 2017 to 2018 but then slightly deteriorated from 2018 to 2019.

Debt to Capital

PepsiCo Inc., debt to capital calculation, comparison to benchmarks

Microsoft Excel LibreOffice Calc
Dec 28, 2019 Dec 29, 2018 Dec 30, 2017 Dec 31, 2016 Dec 26, 2015
Selected Financial Data (US$ in millions)
Short-term debt obligations
Long-term debt obligations
Total debt
Total PepsiCo shareholders’ equity
Total capital
Solvency Ratio
Debt to capital1
Benchmarks
Debt to Capital, Competitors2
Coca-Cola Co.
Debt to Capital, Sector
Beverages
Debt to Capital, Industry
Consumer Goods

Based on: 10-K (filing date: 2020-02-13), 10-K (filing date: 2019-02-15), 10-K (filing date: 2018-02-13), 10-K (filing date: 2017-02-15), 10-K (filing date: 2016-02-11).

1 2019 Calculation
Debt to capital = Total debt ÷ Total capital
= ÷ =

2 Click competitor name to see calculations.

Solvency ratio Description The company
Debt to capital ratio A solvency ratio calculated as total debt divided by total debt plus shareholders’ equity. PepsiCo Inc.’s debt to capital ratio improved from 2017 to 2018 and from 2018 to 2019.

Debt to Capital (including Operating Lease Liability)

PepsiCo Inc., debt to capital (including operating lease liability) calculation, comparison to benchmarks

Microsoft Excel LibreOffice Calc
Dec 28, 2019 Dec 29, 2018 Dec 30, 2017 Dec 31, 2016 Dec 26, 2015
Selected Financial Data (US$ in millions)
Short-term debt obligations
Long-term debt obligations
Total debt
Current lease liabilities
Non-current lease liabilities (classified in Other liabilities)
Total debt (including operating lease liability)
Total PepsiCo shareholders’ equity
Total capital (including operating lease liability)
Solvency Ratio
Debt to capital (including operating lease liability)1
Benchmarks
Debt to Capital (including Operating Lease Liability), Competitors2
Coca-Cola Co.
Debt to Capital (including Operating Lease Liability), Sector
Beverages
Debt to Capital (including Operating Lease Liability), Industry
Consumer Goods

Based on: 10-K (filing date: 2020-02-13), 10-K (filing date: 2019-02-15), 10-K (filing date: 2018-02-13), 10-K (filing date: 2017-02-15), 10-K (filing date: 2016-02-11).

1 2019 Calculation
Debt to capital (including operating lease liability) = Total debt (including operating lease liability) ÷ Total capital (including operating lease liability)
= ÷ =

2 Click competitor name to see calculations.

Solvency ratio Description The company
Debt to capital ratio (including operating lease liability) A solvency ratio calculated as total debt (including operating lease liability) divided by total debt (including operating lease liability) plus shareholders’ equity. PepsiCo Inc.’s debt to capital ratio (including operating lease liability) improved from 2017 to 2018 but then slightly deteriorated from 2018 to 2019.

Debt to Assets

PepsiCo Inc., debt to assets calculation, comparison to benchmarks

Microsoft Excel LibreOffice Calc
Dec 28, 2019 Dec 29, 2018 Dec 30, 2017 Dec 31, 2016 Dec 26, 2015
Selected Financial Data (US$ in millions)
Short-term debt obligations
Long-term debt obligations
Total debt
 
Total assets
Solvency Ratio
Debt to assets1
Benchmarks
Debt to Assets, Competitors2
Coca-Cola Co.
Debt to Assets, Sector
Beverages
Debt to Assets, Industry
Consumer Goods

Based on: 10-K (filing date: 2020-02-13), 10-K (filing date: 2019-02-15), 10-K (filing date: 2018-02-13), 10-K (filing date: 2017-02-15), 10-K (filing date: 2016-02-11).

1 2019 Calculation
Debt to assets = Total debt ÷ Total assets
= ÷ =

2 Click competitor name to see calculations.

Solvency ratio Description The company
Debt to assets ratio A solvency ratio calculated as total debt divided by total assets. PepsiCo Inc.’s debt to assets ratio improved from 2017 to 2018 and from 2018 to 2019.

Debt to Assets (including Operating Lease Liability)

PepsiCo Inc., debt to assets (including operating lease liability) calculation, comparison to benchmarks

Microsoft Excel LibreOffice Calc
Dec 28, 2019 Dec 29, 2018 Dec 30, 2017 Dec 31, 2016 Dec 26, 2015
Selected Financial Data (US$ in millions)
Short-term debt obligations
Long-term debt obligations
Total debt
Current lease liabilities
Non-current lease liabilities (classified in Other liabilities)
Total debt (including operating lease liability)
 
Total assets
Solvency Ratio
Debt to assets (including operating lease liability)1
Benchmarks
Debt to Assets (including Operating Lease Liability), Competitors2
Coca-Cola Co.
Debt to Assets (including Operating Lease Liability), Sector
Beverages
Debt to Assets (including Operating Lease Liability), Industry
Consumer Goods

Based on: 10-K (filing date: 2020-02-13), 10-K (filing date: 2019-02-15), 10-K (filing date: 2018-02-13), 10-K (filing date: 2017-02-15), 10-K (filing date: 2016-02-11).

1 2019 Calculation
Debt to assets (including operating lease liability) = Total debt (including operating lease liability) ÷ Total assets
= ÷ =

2 Click competitor name to see calculations.

Solvency ratio Description The company
Debt to assets ratio (including operating lease liability) A solvency ratio calculated as total debt (including operating lease liability) divided by total assets. PepsiCo Inc.’s debt to assets ratio (including operating lease liability) improved from 2017 to 2018 but then slightly deteriorated from 2018 to 2019.

Financial Leverage

PepsiCo Inc., financial leverage calculation, comparison to benchmarks

Microsoft Excel LibreOffice Calc
Dec 28, 2019 Dec 29, 2018 Dec 30, 2017 Dec 31, 2016 Dec 26, 2015
Selected Financial Data (US$ in millions)
Total assets
Total PepsiCo shareholders’ equity
Solvency Ratio
Financial leverage1
Benchmarks
Financial Leverage, Competitors2
Coca-Cola Co.
Financial Leverage, Sector
Beverages
Financial Leverage, Industry
Consumer Goods

Based on: 10-K (filing date: 2020-02-13), 10-K (filing date: 2019-02-15), 10-K (filing date: 2018-02-13), 10-K (filing date: 2017-02-15), 10-K (filing date: 2016-02-11).

1 2019 Calculation
Financial leverage = Total assets ÷ Total PepsiCo shareholders’ equity
= ÷ =

2 Click competitor name to see calculations.

Solvency ratio Description The company
Financial leverage ratio A solvency ratio calculated as total assets divided by total shareholders’ equity. PepsiCo Inc.’s financial leverage ratio decreased from 2017 to 2018 and from 2018 to 2019.

Interest Coverage

PepsiCo Inc., interest coverage calculation, comparison to benchmarks

Microsoft Excel LibreOffice Calc
Dec 28, 2019 Dec 29, 2018 Dec 30, 2017 Dec 31, 2016 Dec 26, 2015
Selected Financial Data (US$ in millions)
Net income attributable to PepsiCo
Add: Net income attributable to noncontrolling interest
Add: Income tax expense
Add: Interest expense
Earnings before interest and tax (EBIT)
Solvency Ratio
Interest coverage1
Benchmarks
Interest Coverage, Competitors2
Coca-Cola Co.
Interest Coverage, Sector
Beverages
Interest Coverage, Industry
Consumer Goods

Based on: 10-K (filing date: 2020-02-13), 10-K (filing date: 2019-02-15), 10-K (filing date: 2018-02-13), 10-K (filing date: 2017-02-15), 10-K (filing date: 2016-02-11).

1 2019 Calculation
Interest coverage = EBIT ÷ Interest expense
= ÷ =

2 Click competitor name to see calculations.

Solvency ratio Description The company
Interest coverage ratio A solvency ratio calculated as EBIT divided by interest payments. PepsiCo Inc.’s interest coverage ratio deteriorated from 2017 to 2018 but then improved from 2018 to 2019 not reaching 2017 level.

Fixed Charge Coverage

PepsiCo Inc., fixed charge coverage calculation, comparison to benchmarks

Microsoft Excel LibreOffice Calc
Dec 28, 2019 Dec 29, 2018 Dec 30, 2017 Dec 31, 2016 Dec 26, 2015
U.S. Federal statutory tax rate
Selected Financial Data (US$ in millions)
Net income attributable to PepsiCo
Add: Net income attributable to noncontrolling interest
Add: Income tax expense
Add: Interest expense
Earnings before interest and tax (EBIT)
Add: Operating lease cost
Earnings before fixed charges and tax
 
Interest expense
Operating lease cost
Preferred shares, redemption premium
Preferred shares, redemption premium, tax adjustment1
Preferred shares, redemption premium, after tax adjustment
Fixed charges
Solvency Ratio
Fixed charge coverage2
Benchmarks
Fixed Charge Coverage, Competitors3
Coca-Cola Co.
Fixed Charge Coverage, Sector
Beverages
Fixed Charge Coverage, Industry
Consumer Goods

Based on: 10-K (filing date: 2020-02-13), 10-K (filing date: 2019-02-15), 10-K (filing date: 2018-02-13), 10-K (filing date: 2017-02-15), 10-K (filing date: 2016-02-11).

1 2019 Calculation
Preferred shares, redemption premium, tax adjustment = (Preferred shares, redemption premium × U.S. Federal statutory tax rate) ÷ (1 − U.S. Federal statutory tax rate)
= ( × ) ÷ (1 − ) =

2 2019 Calculation
Fixed charge coverage = Earnings before fixed charges and tax ÷ Fixed charges
= ÷ =

3 Click competitor name to see calculations.

Solvency ratio Description The company
Fixed charge coverage ratio A solvency ratio calculated as earnings before fixed charges and tax divided by fixed charges. PepsiCo Inc.’s fixed charge coverage ratio deteriorated from 2017 to 2018 but then improved from 2018 to 2019 exceeding 2017 level.