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PepsiCo Inc. (PEP)

Enterprise Value (EV)

Difficulty: Intermediate

Current Enterprise Value (EV)

PepsiCo Inc., current enterprise value calculation

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Current share price (P) $ 130.51
No. shares of common stock outstanding 1,401,821,663
USD $ in millions
Common equity (market value) 182,952 
Add: Preferred stock, no par value (per books) – 
Add: Noncontrolling interests (per books) 84 
Total equity 183,036 
Add: Short-term debt obligations (per books) 4,026 
Add: Long-term debt obligations (per books) 28,295 
Total equity and debt 215,357 
Less: Cash and cash equivalents 8,721 
Less: Short-term investments 272 
Less: Restricted cash 1,997 
Enterprise value (EV) 204,367 

Based on: 10-K (filing date: 2019-02-15).

Historical Enterprise Value (EV)

PepsiCo Inc., EV calculation

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Dec 29, 2018 Dec 30, 2017 Dec 31, 2016 Dec 26, 2015 Dec 27, 2014
No. shares of common stock outstanding1 1,404,686,108 1,419,908,267 1,427,214,232 1,445,412,743 1,482,368,514
Share price1, 2 (USD $) 115.91 112.14 106.73 96.90 100.27
USD $ in millions
Common equity (market value) 162,817  159,229  152,327  140,060  148,637 
Add: Preferred stock, no par value (per books) –  41  41  41  41 
Add: Noncontrolling interests (per books) 84  92  104  107  110 
Total equity 162,901  159,362  152,472  140,208  148,788 
Add: Short-term debt obligations (per books) 4,026  5,485  6,892  4,071  5,076 
Add: Long-term debt obligations (per books) 28,295  33,796  30,053  29,213  23,821 
Total equity and debt 195,222  198,643  189,417  173,492  177,685 
Less: Cash and cash equivalents 8,721  10,610  9,158  9,096  6,134 
Less: Short-term investments 272  8,900  6,967  2,913  2,592 
Less: Restricted cash 1,997  –  –  –  – 
Enterprise value (EV) 184,232  179,133  173,292  161,483  168,959 

Based on: 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), 10-K (filing date: 2015-02-12).

1 Data adjusted for splits and stock dividends.
2 Close price on the filing date of PepsiCo Inc.’s Annual Report.

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.’s EV increased from 2016 to 2017 and from 2017 to 2018.