Stock Analysis on Net

PepsiCo Inc. (NASDAQ:PEP)

Enterprise Value (EV)

Microsoft Excel

Current Enterprise Value (EV)

PepsiCo Inc., current enterprise value calculation

Microsoft Excel
Current share price (P) $177.99
No. shares of common stock outstanding 1,374,785,980
US$ in millions
Common equity (market value)1 244,698
Add: Noncontrolling interests (per books) 134
Total equity 244,832
Add: Short-term debt obligations (per books) 6,510
Add: Long-term debt obligations, excluding current maturities (per books) 37,595
Total equity and debt 288,937
Less: Cash and cash equivalents 9,711
Less: Short-term investments 292
Enterprise value (EV) 278,934

Based on: 10-K (reporting date: 2023-12-30).

1 Common equity (market value) = Share price × No. shares of common stock outstanding
= 177.99 × 1,374,785,980


Historical Enterprise Value (EV)

PepsiCo Inc., EV calculation

Microsoft Excel
Dec 30, 2023 Dec 31, 2022 Dec 25, 2021 Dec 26, 2020 Dec 28, 2019
Share price1, 2 $167.67 $172.78 $168.37 $134.97 $146.47
No. shares of common stock outstanding1 1,374,429,271 1,377,251,316 1,383,451,400 1,379,608,641 1,389,544,618
US$ in millions
Common equity (market value)3 230,451 237,961 232,932 186,206 203,527
Add: Noncontrolling interests (book value) 134 124 108 98 82
Total equity 230,585 238,085 233,040 186,304 203,609
Add: Short-term debt obligations (book value) 6,510 3,414 4,308 3,780 2,920
Add: Long-term debt obligations, excluding current maturities (book value) 37,595 35,657 36,026 40,370 29,148
Total equity and debt 274,690 277,156 273,374 230,454 235,677
Less: Cash and cash equivalents 9,711 4,954 5,596 8,185 5,509
Less: Short-term investments 292 394 392 1,366 229
Enterprise value (EV) 264,687 271,808 267,386 220,903 229,939

Based on: 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).

1 Data adjusted for splits and stock dividends.

2 Closing price as at the filing date of PepsiCo Inc. Annual Report.

3 2023 Calculation
Common equity (market value) = Share price × No. shares of common stock outstanding
= 167.67 × 1,374,429,271

Item Description The company
EV Enterprise value is total company value (the market value of common equity, debt, and preferred equity) minus the value of cash and short-term investments. PepsiCo Inc. EV increased from 2021 to 2022 but then decreased significantly from 2022 to 2023.