Analysis of Solvency Ratios
Solvency ratios also known as long-term debt ratios measure a company ability to meet long-term obligations.
Solvency Ratios (Summary)
PepsiCo Inc., solvency ratios
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).
| Solvency ratio | Description | The company |
|---|---|---|
| Debt to equity ratio | A solvency ratio calculated as total debt divided by total shareholders’ equity. | PepsiCo Inc. debt to equity ratio improved from 2021 to 2022 but then slightly deteriorated from 2022 to 2023. |
| 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. debt to equity ratio (including operating lease liability) improved from 2021 to 2022 but then slightly deteriorated from 2022 to 2023 not reaching 2021 level. |
| Debt to capital ratio | A solvency ratio calculated as total debt divided by total debt plus shareholders’ equity. | PepsiCo Inc. debt to capital ratio improved from 2021 to 2022 but then slightly deteriorated from 2022 to 2023. |
| 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. debt to capital ratio (including operating lease liability) improved from 2021 to 2022 but then slightly deteriorated from 2022 to 2023 not reaching 2021 level. |
| Debt to assets ratio | A solvency ratio calculated as total debt divided by total assets. | PepsiCo Inc. debt to assets ratio improved from 2021 to 2022 but then deteriorated significantly from 2022 to 2023. |
| 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. debt to assets ratio (including operating lease liability) improved from 2021 to 2022 but then deteriorated significantly from 2022 to 2023. |
| Financial leverage ratio | A solvency ratio calculated as total assets divided by total shareholders’ equity. | PepsiCo Inc. financial leverage ratio decreased from 2021 to 2022 but then slightly increased from 2022 to 2023. |
| Solvency ratio | Description | The company |
|---|---|---|
| Interest coverage ratio | A solvency ratio calculated as EBIT divided by interest payments. | PepsiCo Inc. interest coverage ratio improved from 2021 to 2022 but then slightly deteriorated from 2022 to 2023. |
| Fixed charge coverage ratio | A solvency ratio calculated as earnings before fixed charges and tax divided by fixed charges. | PepsiCo Inc. fixed charge coverage ratio improved from 2021 to 2022 but then slightly deteriorated from 2022 to 2023. |
Debt to Equity
PepsiCo Inc., debt to equity calculation, comparison to benchmarks
| Dec 30, 2023 | Dec 31, 2022 | Dec 25, 2021 | Dec 26, 2020 | Dec 28, 2019 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||
| Short-term debt obligations | 6,510) | 3,414) | 4,308) | 3,780) | 2,920) | |
| Long-term debt obligations, excluding current maturities | 37,595) | 35,657) | 36,026) | 40,370) | 29,148) | |
| Total debt | 44,105) | 39,071) | 40,334) | 44,150) | 32,068) | |
| Total PepsiCo common shareholders’ equity | 18,503) | 17,149) | 16,043) | 13,454) | 14,786) | |
| Solvency Ratio | ||||||
| Debt to equity1 | 2.38 | 2.28 | 2.51 | 3.28 | 2.17 | |
| Benchmarks | ||||||
| Debt to Equity, Competitors2 | ||||||
| Altria Group Inc. | — | — | — | 10.38 | 4.51 | |
| Coca-Cola Co. | 1.62 | 1.62 | 1.86 | 2.22 | 2.25 | |
| Mondelēz International Inc. | 0.69 | 0.85 | 0.69 | 0.73 | 0.68 | |
| Debt to Equity, Sector | ||||||
| Food, Beverage & Tobacco | 1.90 | 1.99 | 1.99 | 2.16 | 1.80 | |
| Debt to Equity, Industry | ||||||
| Consumer Staples | 1.03 | 0.98 | 1.03 | 1.14 | 1.07 | |
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 2023 Calculation
Debt to equity = Total debt ÷ Total PepsiCo common shareholders’ equity
= 44,105 ÷ 18,503 = 2.38
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. debt to equity ratio improved from 2021 to 2022 but then slightly deteriorated from 2022 to 2023. |
Debt to Equity (including Operating Lease Liability)
PepsiCo Inc., debt to equity (including operating lease liability) calculation, comparison to benchmarks
| Dec 30, 2023 | Dec 31, 2022 | Dec 25, 2021 | Dec 26, 2020 | Dec 28, 2019 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||
| Short-term debt obligations | 6,510) | 3,414) | 4,308) | 3,780) | 2,920) | |
| Long-term debt obligations, excluding current maturities | 37,595) | 35,657) | 36,026) | 40,370) | 29,148) | |
| Total debt | 44,105) | 39,071) | 40,334) | 44,150) | 32,068) | |
| Current operating lease liabilities | 556) | 483) | 446) | 460) | 442) | |
| Non-current operating lease liabilities (classified in Other liabilities) | 2,400) | 1,933) | 1,598) | 1,233) | 1,118) | |
| Total debt (including operating lease liability) | 47,061) | 41,487) | 42,378) | 45,843) | 33,628) | |
| Total PepsiCo common shareholders’ equity | 18,503) | 17,149) | 16,043) | 13,454) | 14,786) | |
| Solvency Ratio | ||||||
| Debt to equity (including operating lease liability)1 | 2.54 | 2.42 | 2.64 | 3.41 | 2.27 | |
| Benchmarks | ||||||
| Debt to Equity (including Operating Lease Liability), Competitors2 | ||||||
| Coca-Cola Co. | 1.67 | 1.68 | 1.92 | 2.30 | 2.33 | |
| Mondelēz International Inc. | 0.71 | 0.88 | 0.71 | 0.75 | 0.70 | |
| Debt to Equity (including Operating Lease Liability), Sector | ||||||
| Food, Beverage & Tobacco | 1.98 | 2.06 | 2.05 | 2.22 | 1.86 | |
| Debt to Equity (including Operating Lease Liability), Industry | ||||||
| Consumer Staples | 1.14 | 1.10 | 1.14 | 1.28 | 1.09 | |
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 2023 Calculation
Debt to equity (including operating lease liability) = Total debt (including operating lease liability) ÷ Total PepsiCo common shareholders’ equity
= 47,061 ÷ 18,503 = 2.54
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. debt to equity ratio (including operating lease liability) improved from 2021 to 2022 but then slightly deteriorated from 2022 to 2023 not reaching 2021 level. |
Debt to Capital
PepsiCo Inc., debt to capital calculation, comparison to benchmarks
| Dec 30, 2023 | Dec 31, 2022 | Dec 25, 2021 | Dec 26, 2020 | Dec 28, 2019 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||
| Short-term debt obligations | 6,510) | 3,414) | 4,308) | 3,780) | 2,920) | |
| Long-term debt obligations, excluding current maturities | 37,595) | 35,657) | 36,026) | 40,370) | 29,148) | |
| Total debt | 44,105) | 39,071) | 40,334) | 44,150) | 32,068) | |
| Total PepsiCo common shareholders’ equity | 18,503) | 17,149) | 16,043) | 13,454) | 14,786) | |
| Total capital | 62,608) | 56,220) | 56,377) | 57,604) | 46,854) | |
| Solvency Ratio | ||||||
| Debt to capital1 | 0.70 | 0.69 | 0.72 | 0.77 | 0.68 | |
| Benchmarks | ||||||
| Debt to Capital, Competitors2 | ||||||
| Altria Group Inc. | 1.16 | 1.17 | 1.06 | 0.91 | 0.82 | |
| Coca-Cola Co. | 0.62 | 0.62 | 0.65 | 0.69 | 0.69 | |
| Mondelēz International Inc. | 0.41 | 0.46 | 0.41 | 0.42 | 0.40 | |
| Debt to Capital, Sector | ||||||
| Food, Beverage & Tobacco | 0.66 | 0.67 | 0.67 | 0.68 | 0.64 | |
| Debt to Capital, Industry | ||||||
| Consumer Staples | 0.51 | 0.50 | 0.51 | 0.53 | 0.52 | |
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 2023 Calculation
Debt to capital = Total debt ÷ Total capital
= 44,105 ÷ 62,608 = 0.70
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. debt to capital ratio improved from 2021 to 2022 but then slightly deteriorated from 2022 to 2023. |
Debt to Capital (including Operating Lease Liability)
PepsiCo Inc., debt to capital (including operating lease liability) calculation, comparison to benchmarks
| Dec 30, 2023 | Dec 31, 2022 | Dec 25, 2021 | Dec 26, 2020 | Dec 28, 2019 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||
| Short-term debt obligations | 6,510) | 3,414) | 4,308) | 3,780) | 2,920) | |
| Long-term debt obligations, excluding current maturities | 37,595) | 35,657) | 36,026) | 40,370) | 29,148) | |
| Total debt | 44,105) | 39,071) | 40,334) | 44,150) | 32,068) | |
| Current operating lease liabilities | 556) | 483) | 446) | 460) | 442) | |
| Non-current operating lease liabilities (classified in Other liabilities) | 2,400) | 1,933) | 1,598) | 1,233) | 1,118) | |
| Total debt (including operating lease liability) | 47,061) | 41,487) | 42,378) | 45,843) | 33,628) | |
| Total PepsiCo common shareholders’ equity | 18,503) | 17,149) | 16,043) | 13,454) | 14,786) | |
| Total capital (including operating lease liability) | 65,564) | 58,636) | 58,421) | 59,297) | 48,414) | |
| Solvency Ratio | ||||||
| Debt to capital (including operating lease liability)1 | 0.72 | 0.71 | 0.73 | 0.77 | 0.69 | |
| Benchmarks | ||||||
| Debt to Capital (including Operating Lease Liability), Competitors2 | ||||||
| Coca-Cola Co. | 0.63 | 0.63 | 0.66 | 0.70 | 0.70 | |
| Mondelēz International Inc. | 0.42 | 0.47 | 0.42 | 0.43 | 0.41 | |
| Debt to Capital (including Operating Lease Liability), Sector | ||||||
| Food, Beverage & Tobacco | 0.66 | 0.67 | 0.67 | 0.69 | 0.65 | |
| Debt to Capital (including Operating Lease Liability), Industry | ||||||
| Consumer Staples | 0.53 | 0.52 | 0.53 | 0.56 | 0.52 | |
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 2023 Calculation
Debt to capital (including operating lease liability) = Total debt (including operating lease liability) ÷ Total capital (including operating lease liability)
= 47,061 ÷ 65,564 = 0.72
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. debt to capital ratio (including operating lease liability) improved from 2021 to 2022 but then slightly deteriorated from 2022 to 2023 not reaching 2021 level. |
Debt to Assets
PepsiCo Inc., debt to assets calculation, comparison to benchmarks
| Dec 30, 2023 | Dec 31, 2022 | Dec 25, 2021 | Dec 26, 2020 | Dec 28, 2019 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||
| Short-term debt obligations | 6,510) | 3,414) | 4,308) | 3,780) | 2,920) | |
| Long-term debt obligations, excluding current maturities | 37,595) | 35,657) | 36,026) | 40,370) | 29,148) | |
| Total debt | 44,105) | 39,071) | 40,334) | 44,150) | 32,068) | |
| Total assets | 100,495) | 92,187) | 92,377) | 92,918) | 78,547) | |
| Solvency Ratio | ||||||
| Debt to assets1 | 0.44 | 0.42 | 0.44 | 0.48 | 0.41 | |
| Benchmarks | ||||||
| Debt to Assets, Competitors2 | ||||||
| Altria Group Inc. | 0.68 | 0.72 | 0.71 | 0.62 | 0.57 | |
| Coca-Cola Co. | 0.43 | 0.42 | 0.45 | 0.49 | 0.50 | |
| Mondelēz International Inc. | 0.27 | 0.32 | 0.29 | 0.30 | 0.29 | |
| Debt to Assets, Sector | ||||||
| Food, Beverage & Tobacco | 0.43 | 0.44 | 0.45 | 0.46 | 0.44 | |
| Debt to Assets, Industry | ||||||
| Consumer Staples | 0.30 | 0.29 | 0.30 | 0.33 | 0.33 | |
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 2023 Calculation
Debt to assets = Total debt ÷ Total assets
= 44,105 ÷ 100,495 = 0.44
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. debt to assets ratio improved from 2021 to 2022 but then deteriorated significantly from 2022 to 2023. |
Debt to Assets (including Operating Lease Liability)
PepsiCo Inc., debt to assets (including operating lease liability) calculation, comparison to benchmarks
| Dec 30, 2023 | Dec 31, 2022 | Dec 25, 2021 | Dec 26, 2020 | Dec 28, 2019 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||
| Short-term debt obligations | 6,510) | 3,414) | 4,308) | 3,780) | 2,920) | |
| Long-term debt obligations, excluding current maturities | 37,595) | 35,657) | 36,026) | 40,370) | 29,148) | |
| Total debt | 44,105) | 39,071) | 40,334) | 44,150) | 32,068) | |
| Current operating lease liabilities | 556) | 483) | 446) | 460) | 442) | |
| Non-current operating lease liabilities (classified in Other liabilities) | 2,400) | 1,933) | 1,598) | 1,233) | 1,118) | |
| Total debt (including operating lease liability) | 47,061) | 41,487) | 42,378) | 45,843) | 33,628) | |
| Total assets | 100,495) | 92,187) | 92,377) | 92,918) | 78,547) | |
| Solvency Ratio | ||||||
| Debt to assets (including operating lease liability)1 | 0.47 | 0.45 | 0.46 | 0.49 | 0.43 | |
| Benchmarks | ||||||
| Debt to Assets (including Operating Lease Liability), Competitors2 | ||||||
| Coca-Cola Co. | 0.44 | 0.44 | 0.47 | 0.51 | 0.51 | |
| Mondelēz International Inc. | 0.28 | 0.33 | 0.30 | 0.31 | 0.29 | |
| Debt to Assets (including Operating Lease Liability), Sector | ||||||
| Food, Beverage & Tobacco | 0.44 | 0.45 | 0.46 | 0.48 | 0.45 | |
| Debt to Assets (including Operating Lease Liability), Industry | ||||||
| Consumer Staples | 0.33 | 0.32 | 0.33 | 0.36 | 0.33 | |
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 2023 Calculation
Debt to assets (including operating lease liability) = Total debt (including operating lease liability) ÷ Total assets
= 47,061 ÷ 100,495 = 0.47
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. debt to assets ratio (including operating lease liability) improved from 2021 to 2022 but then deteriorated significantly from 2022 to 2023. |
Financial Leverage
PepsiCo Inc., financial leverage calculation, comparison to benchmarks
| Dec 30, 2023 | Dec 31, 2022 | Dec 25, 2021 | Dec 26, 2020 | Dec 28, 2019 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||
| Total assets | 100,495) | 92,187) | 92,377) | 92,918) | 78,547) | |
| Total PepsiCo common shareholders’ equity | 18,503) | 17,149) | 16,043) | 13,454) | 14,786) | |
| Solvency Ratio | ||||||
| Financial leverage1 | 5.43 | 5.38 | 5.76 | 6.91 | 5.31 | |
| Benchmarks | ||||||
| Financial Leverage, Competitors2 | ||||||
| Altria Group Inc. | — | — | — | 16.70 | 7.92 | |
| Coca-Cola Co. | 3.77 | 3.85 | 4.10 | 4.52 | 4.55 | |
| Mondelēz International Inc. | 2.52 | 2.65 | 2.37 | 2.46 | 2.37 | |
| Financial Leverage, Sector | ||||||
| Food, Beverage & Tobacco | 4.45 | 4.57 | 4.46 | 4.68 | 4.14 | |
| Financial Leverage, Industry | ||||||
| Consumer Staples | 3.47 | 3.40 | 3.45 | 3.50 | 3.28 | |
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 2023 Calculation
Financial leverage = Total assets ÷ Total PepsiCo common shareholders’ equity
= 100,495 ÷ 18,503 = 5.43
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. financial leverage ratio decreased from 2021 to 2022 but then slightly increased from 2022 to 2023. |
Interest Coverage
PepsiCo Inc., interest coverage calculation, comparison to benchmarks
| Dec 30, 2023 | Dec 31, 2022 | Dec 25, 2021 | Dec 26, 2020 | Dec 28, 2019 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||
| Net income attributable to PepsiCo | 9,074) | 8,910) | 7,618) | 7,120) | 7,314) | |
| Add: Net income attributable to noncontrolling interest | 81) | 68) | 61) | 55) | 39) | |
| Add: Income tax expense | 2,262) | 1,727) | 2,142) | 1,894) | 1,959) | |
| Add: Interest expense | 1,437) | 1,119) | 1,988) | 1,252) | 1,135) | |
| Earnings before interest and tax (EBIT) | 12,854) | 11,824) | 11,809) | 10,321) | 10,447) | |
| Solvency Ratio | ||||||
| Interest coverage1 | 8.95 | 10.57 | 5.94 | 8.24 | 9.20 | |
| Benchmarks | ||||||
| Interest Coverage, Competitors2 | ||||||
| Altria Group Inc. | 10.51 | 7.55 | 4.22 | 6.63 | 1.58 | |
| Coca-Cola Co. | 9.48 | 14.25 | 8.78 | 7.78 | 12.40 | |
| Mondelēz International Inc. | 12.83 | 9.39 | 16.08 | 12.33 | 9.03 | |
| Interest Coverage, Sector | ||||||
| Food, Beverage & Tobacco | 9.96 | 10.38 | 7.15 | 8.04 | 7.37 | |
| Interest Coverage, Industry | ||||||
| Consumer Staples | 11.88 | 14.21 | 10.01 | 10.46 | 7.90 | |
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 2023 Calculation
Interest coverage = EBIT ÷ Interest expense
= 12,854 ÷ 1,437 = 8.95
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. interest coverage ratio improved from 2021 to 2022 but then slightly deteriorated from 2022 to 2023. |
Fixed Charge Coverage
PepsiCo Inc., fixed charge coverage calculation, comparison to benchmarks
| Dec 30, 2023 | Dec 31, 2022 | Dec 25, 2021 | Dec 26, 2020 | Dec 28, 2019 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||
| Net income attributable to PepsiCo | 9,074) | 8,910) | 7,618) | 7,120) | 7,314) | |
| Add: Net income attributable to noncontrolling interest | 81) | 68) | 61) | 55) | 39) | |
| Add: Income tax expense | 2,262) | 1,727) | 2,142) | 1,894) | 1,959) | |
| Add: Interest expense | 1,437) | 1,119) | 1,988) | 1,252) | 1,135) | |
| Earnings before interest and tax (EBIT) | 12,854) | 11,824) | 11,809) | 10,321) | 10,447) | |
| Add: Operating lease cost | 666) | 585) | 563) | 539) | 474) | |
| Earnings before fixed charges and tax | 13,520) | 12,409) | 12,372) | 10,860) | 10,921) | |
| Interest expense | 1,437) | 1,119) | 1,988) | 1,252) | 1,135) | |
| Operating lease cost | 666) | 585) | 563) | 539) | 474) | |
| Fixed charges | 2,103) | 1,704) | 2,551) | 1,791) | 1,609) | |
| Solvency Ratio | ||||||
| Fixed charge coverage1 | 6.43 | 7.28 | 4.85 | 6.06 | 6.79 | |
| Benchmarks | ||||||
| Fixed Charge Coverage, Competitors2 | ||||||
| Coca-Cola Co. | 7.73 | 10.14 | 7.41 | 6.45 | 9.47 | |
| Mondelēz International Inc. | 9.42 | 6.60 | 10.28 | 8.27 | 6.51 | |
| Fixed Charge Coverage, Sector | ||||||
| Food, Beverage & Tobacco | 8.03 | 8.02 | 6.03 | 6.58 | 6.04 | |
| Fixed Charge Coverage, Industry | ||||||
| Consumer Staples | 7.71 | 8.59 | 6.77 | 6.80 | 5.01 | |
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 2023 Calculation
Fixed charge coverage = Earnings before fixed charges and tax ÷ Fixed charges
= 13,520 ÷ 2,103 = 6.43
2 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. fixed charge coverage ratio improved from 2021 to 2022 but then slightly deteriorated from 2022 to 2023. |