Stock Analysis on Net
Stock Analysis on Net

PepsiCo Inc. (NASDAQ:PEP)

Common Stock Valuation Ratios (Price Multiples)
Quarterly Data

Beginner level

Valuation ratios measure the quantity of an asset or flaw (e.g., earnings) associated with ownership of a specified claim (e.g., a share of ownership of the enterprise).


Historical Valuation Ratios (Summary)

PepsiCo Inc., historical price multiples (quarterly data)

Microsoft Excel LibreOffice Calc
Sep 5, 2020 Jun 13, 2020 Mar 21, 2020 Dec 28, 2019 Sep 7, 2019 Jun 15, 2019 Mar 23, 2019 Dec 29, 2018 Sep 8, 2018 Jun 16, 2018 Mar 24, 2018 Dec 30, 2017 Sep 9, 2017 Jun 17, 2017 Mar 25, 2017 Dec 31, 2016 Sep 3, 2016 Jun 11, 2016 Mar 19, 2016 Dec 26, 2015 Sep 5, 2015 Jun 13, 2015 Mar 21, 2015
Price to earnings (P/E) 27.64 27.27 26.13 27.83 15.51 14.39 14.15 13.01 31.02 34.76 30.01 32.81 22.34 23.81 24.13 24.09 23.27 29.86 29.06 25.72
Price to operating profit (P/OP) 19.55 19.07 18.53 19.78 19.19 18.40 17.27 16.10 14.94 15.32 14.10 15.15 15.10 16.01 16.03 15.57 16.03 18.78 18.33 16.77
Price to sales (P/S) 2.84 2.76 2.78 3.03 2.91 2.82 2.74 2.52 2.37 2.48 2.29 2.51 2.45 2.56 2.57 2.43 2.50 2.49 2.39 2.22
Price to book value (P/BV) 14.43 14.95 14.05 13.76 13.61 13.20 12.54 11.21 14.92 15.79 13.45 14.62 11.70 13.07 13.99 13.73 12.26 12.63 13.48 11.75 10.51 8.51 8.90

Based on: 10-Q (filing date: 2020-10-01), 10-Q (filing date: 2020-07-13), 10-Q (filing date: 2020-04-28), 10-K (filing date: 2020-02-13), 10-Q (filing date: 2019-10-03), 10-Q (filing date: 2019-07-09), 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).

Valuation ratio Description The company
P/E ratio The P/E ratio tells analyst how much an investor in common stock pays per dollar of current earnings. PepsiCo Inc.’s P/E ratio increased from Q1 2020 to Q2 2020 and from Q2 2020 to Q3 2020.
P/OP ratio Because P/E ratio is calculated using net income, the ratio can be sensitive to nonrecurring earnings and capital structure, analysts may use price to operating profit. PepsiCo Inc.’s P/OP ratio increased from Q1 2020 to Q2 2020 and from Q2 2020 to Q3 2020.
P/S ratio An rationale for the P/S ratio is that sales, as the top line in an income statement, are generally less subject to distortion or manipulation than other fundamentals such as EPS or book value. Sales are also more stable than earnings and never negative. PepsiCo Inc.’s P/S ratio decreased from Q1 2020 to Q2 2020 but then increased from Q2 2020 to Q3 2020 exceeding Q1 2020 level.
P/BV ratio The P/BV ratio is interpreted as an indicator of market judgment about the relationship between a company’s required rate of return and its actual rate of return. PepsiCo Inc.’s P/BV ratio increased from Q1 2020 to Q2 2020 but then slightly decreased from Q2 2020 to Q3 2020 not reaching Q1 2020 level.

Price to Earnings (P/E)

PepsiCo Inc., historical P/E calculation (quarterly data)

Microsoft Excel LibreOffice Calc
Sep 5, 2020 Jun 13, 2020 Mar 21, 2020 Dec 28, 2019 Sep 7, 2019 Jun 15, 2019 Mar 23, 2019 Dec 29, 2018 Sep 8, 2018 Jun 16, 2018 Mar 24, 2018 Dec 30, 2017 Sep 9, 2017 Jun 17, 2017 Mar 25, 2017 Dec 31, 2016 Sep 3, 2016 Jun 11, 2016 Mar 19, 2016 Dec 26, 2015 Sep 5, 2015 Jun 13, 2015 Mar 21, 2015
No. shares of common stock outstanding1 1,381,956,485 1,384,632,842 1,387,500,433 1,389,544,618 1,394,435,338 1,398,169,503 1,401,821,663 1,404,686,108 1,411,568,000 1,414,321,635 1,417,848,788 1,419,908,267 1,422,143,357 1,425,510,474 1,428,501,223 1,427,214,232 1,434,183,120 1,439,157,837 1,444,417,034 1,445,412,743 1,456,850,777 1,468,993,138 1,476,050,863
Selected Financial Data (US$)
Net income available for PepsiCo common shareholders (in millions) 2,291  1,646  1,338  1,766  2,100  2,035  1,413  6,854  2,498  1,820  1,341  (711) 2,143  2,105  1,316  1,398  1,991  2,004  930  1,716  531  1,979  1,220 
Earnings per share (EPS)2 5.09 4.95 5.22 5.26 8.89 9.15 8.98 8.91 3.51 3.25 3.44 3.42 4.90 4.78 4.70 4.43 4.63 3.60 3.57 3.77 0.00 0.00 0.00
Share price1, 3 140.80 134.91 136.32 146.47 137.93 131.74 127.01 115.91 108.72 112.89 103.26 112.14 109.34 113.74 113.33 106.73 107.76 107.49 103.72 96.90 97.07 94.59 95.73
Valuation Ratio
P/E ratio4 27.64 27.27 26.13 27.83 15.51 14.39 14.15 13.01 31.02 34.76 30.01 32.81 22.34 23.81 24.13 24.09 23.27 29.86 29.06 25.72
Benchmarks
P/E Ratio, Competitors5
Coca-Cola Co. 26.14 22.66 19.48 28.21 30.20 32.26 30.26 30.47 72.10 82.66 126.38 150.54 43.29 47.41 29.52 27.48 25.18 24.73 26.53 26.01

Based on: 10-Q (filing date: 2020-10-01), 10-Q (filing date: 2020-07-13), 10-Q (filing date: 2020-04-28), 10-K (filing date: 2020-02-13), 10-Q (filing date: 2019-10-03), 10-Q (filing date: 2019-07-09), 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).

1 Data adjusted for splits and stock dividends.

2 Q3 2020 Calculation
EPS = (Net income available for PepsiCo common shareholdersQ3 2020 + Net income available for PepsiCo common shareholdersQ2 2020 + Net income available for PepsiCo common shareholdersQ1 2020 + Net income available for PepsiCo common shareholdersQ4 2019) ÷ No. shares of common stock outstanding
= (2,291,000,000 + 1,646,000,000 + 1,338,000,000 + 1,766,000,000) ÷ 1,381,956,485 = 5.09

3 Closing price as at the filing date of PepsiCo Inc.’s Quarterly or Annual Report.

4 Q3 2020 Calculation
P/E ratio = Share price ÷ EPS
= 140.80 ÷ 5.09 = 27.64

5 Click competitor name to see calculations.

Valuation ratio Description The company
P/E ratio The P/E ratio tells analyst how much an investor in common stock pays per dollar of current earnings. PepsiCo Inc.’s P/E ratio increased from Q1 2020 to Q2 2020 and from Q2 2020 to Q3 2020.

Price to Operating Profit (P/OP)

PepsiCo Inc., historical P/OP calculation (quarterly data)

Microsoft Excel LibreOffice Calc
Sep 5, 2020 Jun 13, 2020 Mar 21, 2020 Dec 28, 2019 Sep 7, 2019 Jun 15, 2019 Mar 23, 2019 Dec 29, 2018 Sep 8, 2018 Jun 16, 2018 Mar 24, 2018 Dec 30, 2017 Sep 9, 2017 Jun 17, 2017 Mar 25, 2017 Dec 31, 2016 Sep 3, 2016 Jun 11, 2016 Mar 19, 2016 Dec 26, 2015 Sep 5, 2015 Jun 13, 2015 Mar 21, 2015
No. shares of common stock outstanding1 1,381,956,485 1,384,632,842 1,387,500,433 1,389,544,618 1,394,435,338 1,398,169,503 1,401,821,663 1,404,686,108 1,411,568,000 1,414,321,635 1,417,848,788 1,419,908,267 1,422,143,357 1,425,510,474 1,428,501,223 1,427,214,232 1,434,183,120 1,439,157,837 1,444,417,034 1,445,412,743 1,456,850,777 1,468,993,138 1,476,050,863
Selected Financial Data (US$)
Operating profit (in millions) 3,011  2,319  1,924  2,699  2,855  2,729  2,008  2,431  2,844  3,028  1,807  2,593  2,993  2,990  1,933  2,381  2,821  2,964  1,619  2,240  1,416  2,900  1,797 
Operating profit per share2 7.20 7.08 7.36 7.41 7.19 7.16 7.36 7.20 7.28 7.37 7.32 7.40 7.24 7.10 7.07 6.86 6.72 5.72 5.66 5.78 0.00 0.00 0.00
Share price1, 3 140.80 134.91 136.32 146.47 137.93 131.74 127.01 115.91 108.72 112.89 103.26 112.14 109.34 113.74 113.33 106.73 107.76 107.49 103.72 96.90 97.07 94.59 95.73
Valuation Ratio
P/OP ratio4 19.55 19.07 18.53 19.78 19.19 18.40 17.27 16.10 14.94 15.32 14.10 15.15 15.10 16.01 16.03 15.57 16.03 18.78 18.33 16.77
Benchmarks
P/OP Ratio, Competitors5
Coca-Cola Co. 24.68 23.08 19.45 24.95 24.48 23.68 21.89 22.54 24.18 24.65 24.72 25.05 26.14 25.59 21.70 20.80 20.67 21.18 22.52 21.91

Based on: 10-Q (filing date: 2020-10-01), 10-Q (filing date: 2020-07-13), 10-Q (filing date: 2020-04-28), 10-K (filing date: 2020-02-13), 10-Q (filing date: 2019-10-03), 10-Q (filing date: 2019-07-09), 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).

1 Data adjusted for splits and stock dividends.

2 Q3 2020 Calculation
Operating profit per share = (Operating profitQ3 2020 + Operating profitQ2 2020 + Operating profitQ1 2020 + Operating profitQ4 2019) ÷ No. shares of common stock outstanding
= (3,011,000,000 + 2,319,000,000 + 1,924,000,000 + 2,699,000,000) ÷ 1,381,956,485 = 7.20

3 Closing price as at the filing date of PepsiCo Inc.’s Quarterly or Annual Report.

4 Q3 2020 Calculation
P/OP ratio = Share price ÷ Operating profit per share
= 140.80 ÷ 7.20 = 19.55

5 Click competitor name to see calculations.

Valuation ratio Description The company
P/OP ratio Because P/E ratio is calculated using net income, the ratio can be sensitive to nonrecurring earnings and capital structure, analysts may use price to operating profit. PepsiCo Inc.’s P/OP ratio increased from Q1 2020 to Q2 2020 and from Q2 2020 to Q3 2020.

Price to Sales (P/S)

PepsiCo Inc., historical P/S calculation (quarterly data)

Microsoft Excel LibreOffice Calc
Sep 5, 2020 Jun 13, 2020 Mar 21, 2020 Dec 28, 2019 Sep 7, 2019 Jun 15, 2019 Mar 23, 2019 Dec 29, 2018 Sep 8, 2018 Jun 16, 2018 Mar 24, 2018 Dec 30, 2017 Sep 9, 2017 Jun 17, 2017 Mar 25, 2017 Dec 31, 2016 Sep 3, 2016 Jun 11, 2016 Mar 19, 2016 Dec 26, 2015 Sep 5, 2015 Jun 13, 2015 Mar 21, 2015
No. shares of common stock outstanding1 1,381,956,485 1,384,632,842 1,387,500,433 1,389,544,618 1,394,435,338 1,398,169,503 1,401,821,663 1,404,686,108 1,411,568,000 1,414,321,635 1,417,848,788 1,419,908,267 1,422,143,357 1,425,510,474 1,428,501,223 1,427,214,232 1,434,183,120 1,439,157,837 1,444,417,034 1,445,412,743 1,456,850,777 1,468,993,138 1,476,050,863
Selected Financial Data (US$)
Net revenue (in millions) 18,091  15,945  13,881  20,640  17,188  16,449  12,884  19,524  16,485  16,090  12,562  19,526  16,240  15,710  12,049  19,515  16,027  15,395  11,862  18,585  16,331  15,923  12,217 
Sales per share2 49.61 48.86 49.12 48.33 47.36 46.73 46.36 46.03 45.81 45.55 45.17 44.74 44.66 44.41 44.09 44.00 43.14 43.20 43.41 43.62 0.00 0.00 0.00
Share price1, 3 140.80 134.91 136.32 146.47 137.93 131.74 127.01 115.91 108.72 112.89 103.26 112.14 109.34 113.74 113.33 106.73 107.76 107.49 103.72 96.90 97.07 94.59 95.73
Valuation Ratio
P/S ratio4 2.84 2.76 2.78 3.03 2.91 2.82 2.74 2.52 2.37 2.48 2.29 2.51 2.45 2.56 2.57 2.43 2.50 2.49 2.39 2.22
Benchmarks
P/S Ratio, Competitors5
Coca-Cola Co. 6.51 6.07 5.25 6.75 6.64 6.68 6.20 6.15 6.27 5.93 5.34 5.31 5.28 5.06 4.52 4.28 4.28 4.36 4.40 4.32

Based on: 10-Q (filing date: 2020-10-01), 10-Q (filing date: 2020-07-13), 10-Q (filing date: 2020-04-28), 10-K (filing date: 2020-02-13), 10-Q (filing date: 2019-10-03), 10-Q (filing date: 2019-07-09), 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).

1 Data adjusted for splits and stock dividends.

2 Q3 2020 Calculation
Sales per share = (Net revenueQ3 2020 + Net revenueQ2 2020 + Net revenueQ1 2020 + Net revenueQ4 2019) ÷ No. shares of common stock outstanding
= (18,091,000,000 + 15,945,000,000 + 13,881,000,000 + 20,640,000,000) ÷ 1,381,956,485 = 49.61

3 Closing price as at the filing date of PepsiCo Inc.’s Quarterly or Annual Report.

4 Q3 2020 Calculation
P/S ratio = Share price ÷ Sales per share
= 140.80 ÷ 49.61 = 2.84

5 Click competitor name to see calculations.

Valuation ratio Description The company
P/S ratio An rationale for the P/S ratio is that sales, as the top line in an income statement, are generally less subject to distortion or manipulation than other fundamentals such as EPS or book value. Sales are also more stable than earnings and never negative. PepsiCo Inc.’s P/S ratio decreased from Q1 2020 to Q2 2020 but then increased from Q2 2020 to Q3 2020 exceeding Q1 2020 level.

Price to Book Value (P/BV)

PepsiCo Inc., historical P/BV calculation (quarterly data)

Microsoft Excel LibreOffice Calc
Sep 5, 2020 Jun 13, 2020 Mar 21, 2020 Dec 28, 2019 Sep 7, 2019 Jun 15, 2019 Mar 23, 2019 Dec 29, 2018 Sep 8, 2018 Jun 16, 2018 Mar 24, 2018 Dec 30, 2017 Sep 9, 2017 Jun 17, 2017 Mar 25, 2017 Dec 31, 2016 Sep 3, 2016 Jun 11, 2016 Mar 19, 2016 Dec 26, 2015 Sep 5, 2015 Jun 13, 2015 Mar 21, 2015
No. shares of common stock outstanding1 1,381,956,485 1,384,632,842 1,387,500,433 1,389,544,618 1,394,435,338 1,398,169,503 1,401,821,663 1,404,686,108 1,411,568,000 1,414,321,635 1,417,848,788 1,419,908,267 1,422,143,357 1,425,510,474 1,428,501,223 1,427,214,232 1,434,183,120 1,439,157,837 1,444,417,034 1,445,412,743 1,456,850,777 1,468,993,138 1,476,050,863
Selected Financial Data (US$)
Total PepsiCo shareholders’ equity (in millions) 13,483  12,491  13,465  14,786  14,129  13,952  14,202  14,518  10,286  10,111  10,883  10,889  13,295  12,404  11,569  11,095  12,602  12,248  11,111  11,923  13,461  16,332  15,869 
Book value per share (BVPS)2 9.76 9.02 9.70 10.64 10.13 9.98 10.13 10.34 7.29 7.15 7.68 7.67 9.35 8.70 8.10 7.77 8.79 8.51 7.69 8.25 9.24 11.12 10.75
Share price1, 3 140.80 134.91 136.32 146.47 137.93 131.74 127.01 115.91 108.72 112.89 103.26 112.14 109.34 113.74 113.33 106.73 107.76 107.49 103.72 96.90 97.07 94.59 95.73
Valuation Ratio
P/BV ratio4 14.43 14.95 14.05 13.76 13.61 13.20 12.54 11.21 14.92 15.79 13.45 14.62 11.70 13.07 13.99 13.73 12.26 12.63 13.48 11.75 10.51 8.51 8.90
Benchmarks
P/BV Ratio, Competitors5
Coca-Cola Co. 11.70 11.91 10.75 13.26 12.50 12.48 11.51 11.55 11.10 10.73 9.24 11.00 8.91 8.94 8.03 7.78 6.97 7.07 7.75 7.48 7.13 6.21 6.13

Based on: 10-Q (filing date: 2020-10-01), 10-Q (filing date: 2020-07-13), 10-Q (filing date: 2020-04-28), 10-K (filing date: 2020-02-13), 10-Q (filing date: 2019-10-03), 10-Q (filing date: 2019-07-09), 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).

1 Data adjusted for splits and stock dividends.

2 Q3 2020 Calculation
BVPS = Total PepsiCo shareholders’ equity ÷ No. shares of common stock outstanding
= 13,483,000,000 ÷ 1,381,956,485 = 9.76

3 Closing price as at the filing date of PepsiCo Inc.’s Quarterly or Annual Report.

4 Q3 2020 Calculation
P/BV ratio = Share price ÷ BVPS
= 140.80 ÷ 9.76 = 14.43

5 Click competitor name to see calculations.

Valuation ratio Description The company
P/BV ratio The P/BV ratio is interpreted as an indicator of market judgment about the relationship between a company’s required rate of return and its actual rate of return. PepsiCo Inc.’s P/BV ratio increased from Q1 2020 to Q2 2020 but then slightly decreased from Q2 2020 to Q3 2020 not reaching Q1 2020 level.