Activity ratios measure how efficiently a company performs day-to-day tasks, such us the collection of receivables and management of inventory.
Short-term Activity Ratios (Summary)
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).
Short-term activity ratio | Description | The company |
---|---|---|
Inventory turnover | An activity ratio calculated as cost of goods sold divided by inventory. | PepsiCo Inc. inventory turnover ratio deteriorated from 2021 to 2022 but then slightly improved from 2022 to 2023. |
Receivables turnover | An activity ratio equal to revenue divided by receivables. | PepsiCo Inc. receivables turnover ratio deteriorated from 2021 to 2022 and from 2022 to 2023. |
Payables turnover | An activity ratio calculated as cost of goods sold divided by payables. | PepsiCo Inc. payables turnover ratio increased from 2021 to 2022 but then decreased significantly from 2022 to 2023. |
Short-term activity ratio | Description | The company |
---|---|---|
Average inventory processing period | An activity ratio equal to the number of days in the period divided by inventory turnover over the period. | PepsiCo Inc. number of days of inventory outstanding deteriorated from 2021 to 2022 but then slightly improved from 2022 to 2023. |
Average receivable collection period | An activity ratio equal to the number of days in the period divided by receivables turnover. | |
Operating cycle | Equal to average inventory processing period plus average receivables collection period. | PepsiCo Inc. operating cycle deteriorated from 2021 to 2022 but then slightly improved from 2022 to 2023. |
Average payables payment period | An estimate of the average number of days it takes a company to pay its suppliers; equal to the number of days in the period divided by payables turnover ratio for the period. | |
Cash conversion cycle | A financial metric that measures the length of time required for a company to convert cash invested in its operations to cash received as a result of its operations; equal to average inventory processing period plus average receivables collection period minus average payables payment period. | PepsiCo Inc. cash conversion cycle deteriorated from 2021 to 2022 but then improved from 2022 to 2023 not reaching 2021 level. |
Inventory Turnover
Dec 30, 2023 | Dec 31, 2022 | Dec 25, 2021 | Dec 26, 2020 | Dec 28, 2019 | ||
---|---|---|---|---|---|---|
Selected Financial Data (US$ in millions) | ||||||
Cost of sales | 41,881) | 40,576) | 37,075) | 31,797) | 30,132) | |
Inventories | 5,334) | 5,222) | 4,347) | 4,172) | 3,338) | |
Short-term Activity Ratio | ||||||
Inventory turnover1 | 7.85 | 7.77 | 8.53 | 7.62 | 9.03 | |
Benchmarks | ||||||
Inventory Turnover, Competitors2 | ||||||
Coca-Cola Co. | 4.19 | 4.25 | 4.50 | 4.11 | 4.33 | |
Mondelēz International Inc. | 6.16 | 5.97 | 6.45 | 6.10 | 6.10 | |
Inventory Turnover, Sector | ||||||
Food, Beverage & Tobacco | 6.18 | 6.14 | 6.68 | 6.08 | 6.51 | |
Inventory Turnover, Industry | ||||||
Consumer Staples | 8.25 | 7.63 | 8.86 | 8.50 | 8.39 |
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
Inventory turnover = Cost of sales ÷ Inventories
= 41,881 ÷ 5,334 = 7.85
2 Click competitor name to see calculations.
Short-term activity ratio | Description | The company |
---|---|---|
Inventory turnover | An activity ratio calculated as cost of goods sold divided by inventory. | PepsiCo Inc. inventory turnover ratio deteriorated from 2021 to 2022 but then slightly improved from 2022 to 2023. |
Receivables Turnover
Dec 30, 2023 | Dec 31, 2022 | Dec 25, 2021 | Dec 26, 2020 | Dec 28, 2019 | ||
---|---|---|---|---|---|---|
Selected Financial Data (US$ in millions) | ||||||
Net revenue | 91,471) | 86,392) | 79,474) | 70,372) | 67,161) | |
Accounts and notes receivable, net | 10,815) | 10,163) | 8,680) | 8,404) | 7,822) | |
Short-term Activity Ratio | ||||||
Receivables turnover1 | 8.46 | 8.50 | 9.16 | 8.37 | 8.59 | |
Benchmarks | ||||||
Receivables Turnover, Competitors2 | ||||||
Coca-Cola Co. | 13.42 | 12.33 | 11.01 | 10.50 | 9.38 | |
Mondelēz International Inc. | 9.91 | 10.20 | 12.29 | 11.57 | 11.69 | |
Receivables Turnover, Sector | ||||||
Food, Beverage & Tobacco | 9.70 | 9.61 | 10.11 | 9.39 | 9.30 | |
Receivables Turnover, Industry | ||||||
Consumer Staples | 34.75 | 34.18 | 37.68 | 36.47 | 34.01 |
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
Receivables turnover = Net revenue ÷ Accounts and notes receivable, net
= 91,471 ÷ 10,815 = 8.46
2 Click competitor name to see calculations.
Short-term activity ratio | Description | The company |
---|---|---|
Receivables turnover | An activity ratio equal to revenue divided by receivables. | PepsiCo Inc. receivables turnover ratio deteriorated from 2021 to 2022 and from 2022 to 2023. |
Payables Turnover
Dec 30, 2023 | Dec 31, 2022 | Dec 25, 2021 | Dec 26, 2020 | Dec 28, 2019 | ||
---|---|---|---|---|---|---|
Selected Financial Data (US$ in millions) | ||||||
Cost of sales | 41,881) | 40,576) | 37,075) | 31,797) | 30,132) | |
Accounts payable | 11,635) | 10,732) | 9,834) | 8,853) | 8,013) | |
Short-term Activity Ratio | ||||||
Payables turnover1 | 3.60 | 3.78 | 3.77 | 3.59 | 3.76 | |
Benchmarks | ||||||
Payables Turnover, Competitors2 | ||||||
Coca-Cola Co. | 3.31 | 3.39 | 3.34 | 3.82 | 3.84 | |
Mondelēz International Inc. | 2.67 | 2.67 | 2.60 | 2.60 | 2.65 | |
Payables Turnover, Sector | ||||||
Food, Beverage & Tobacco | 3.24 | 3.34 | 3.30 | 3.30 | 3.41 | |
Payables Turnover, Industry | ||||||
Consumer Staples | 7.08 | 6.49 | 6.75 | 6.79 | 6.84 |
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
Payables turnover = Cost of sales ÷ Accounts payable
= 41,881 ÷ 11,635 = 3.60
2 Click competitor name to see calculations.
Short-term activity ratio | Description | The company |
---|---|---|
Payables turnover | An activity ratio calculated as cost of goods sold divided by payables. | PepsiCo Inc. payables turnover ratio increased from 2021 to 2022 but then decreased significantly from 2022 to 2023. |
Working Capital Turnover
Dec 30, 2023 | Dec 31, 2022 | Dec 25, 2021 | Dec 26, 2020 | Dec 28, 2019 | ||
---|---|---|---|---|---|---|
Selected Financial Data (US$ in millions) | ||||||
Current assets | 26,950) | 21,539) | 21,783) | 23,001) | 17,645) | |
Less: Current liabilities | 31,647) | 26,785) | 26,220) | 23,372) | 20,461) | |
Working capital | (4,697) | (5,246) | (4,437) | (371) | (2,816) | |
Net revenue | 91,471) | 86,392) | 79,474) | 70,372) | 67,161) | |
Short-term Activity Ratio | ||||||
Working capital turnover1 | — | — | — | — | — | |
Benchmarks | ||||||
Working Capital Turnover, Competitors2 | ||||||
Coca-Cola Co. | 14.47 | 15.00 | 14.90 | 7.12 | — | |
Mondelēz International Inc. | — | — | — | — | — | |
Working Capital Turnover, Sector | ||||||
Food, Beverage & Tobacco | — | — | — | — | — | |
Working Capital Turnover, Industry | ||||||
Consumer Staples | — | — | — | — | — |
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
Working capital turnover = Net revenue ÷ Working capital
= 91,471 ÷ -4,697 = —
2 Click competitor name to see calculations.
Average Inventory Processing Period
Dec 30, 2023 | Dec 31, 2022 | Dec 25, 2021 | Dec 26, 2020 | Dec 28, 2019 | ||
---|---|---|---|---|---|---|
Selected Financial Data | ||||||
Inventory turnover | 7.85 | 7.77 | 8.53 | 7.62 | 9.03 | |
Short-term Activity Ratio (no. days) | ||||||
Average inventory processing period1 | 46 | 47 | 43 | 48 | 40 | |
Benchmarks (no. days) | ||||||
Average Inventory Processing Period, Competitors2 | ||||||
Coca-Cola Co. | 87 | 86 | 81 | 89 | 84 | |
Mondelēz International Inc. | 59 | 61 | 57 | 60 | 60 | |
Average Inventory Processing Period, Sector | ||||||
Food, Beverage & Tobacco | 59 | 59 | 55 | 60 | 56 | |
Average Inventory Processing Period, Industry | ||||||
Consumer Staples | 44 | 48 | 41 | 43 | 44 |
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
Average inventory processing period = 365 ÷ Inventory turnover
= 365 ÷ 7.85 = 46
2 Click competitor name to see calculations.
Short-term activity ratio | Description | The company |
---|---|---|
Average inventory processing period | An activity ratio equal to the number of days in the period divided by inventory turnover over the period. | PepsiCo Inc. number of days of inventory outstanding deteriorated from 2021 to 2022 but then slightly improved from 2022 to 2023. |
Average Receivable Collection Period
Dec 30, 2023 | Dec 31, 2022 | Dec 25, 2021 | Dec 26, 2020 | Dec 28, 2019 | ||
---|---|---|---|---|---|---|
Selected Financial Data | ||||||
Receivables turnover | 8.46 | 8.50 | 9.16 | 8.37 | 8.59 | |
Short-term Activity Ratio (no. days) | ||||||
Average receivable collection period1 | 43 | 43 | 40 | 44 | 43 | |
Benchmarks (no. days) | ||||||
Average Receivable Collection Period, Competitors2 | ||||||
Coca-Cola Co. | 27 | 30 | 33 | 35 | 39 | |
Mondelēz International Inc. | 37 | 36 | 30 | 32 | 31 | |
Average Receivable Collection Period, Sector | ||||||
Food, Beverage & Tobacco | 38 | 38 | 36 | 39 | 39 | |
Average Receivable Collection Period, Industry | ||||||
Consumer Staples | 11 | 11 | 10 | 10 | 11 |
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
Average receivable collection period = 365 ÷ Receivables turnover
= 365 ÷ 8.46 = 43
2 Click competitor name to see calculations.
Short-term activity ratio | Description | The company |
---|---|---|
Average receivable collection period | An activity ratio equal to the number of days in the period divided by receivables turnover. |
Operating Cycle
Dec 30, 2023 | Dec 31, 2022 | Dec 25, 2021 | Dec 26, 2020 | Dec 28, 2019 | ||
---|---|---|---|---|---|---|
Selected Financial Data | ||||||
Average inventory processing period | 46 | 47 | 43 | 48 | 40 | |
Average receivable collection period | 43 | 43 | 40 | 44 | 43 | |
Short-term Activity Ratio | ||||||
Operating cycle1 | 89 | 90 | 83 | 92 | 83 | |
Benchmarks | ||||||
Operating Cycle, Competitors2 | ||||||
Coca-Cola Co. | 114 | 116 | 114 | 124 | 123 | |
Mondelēz International Inc. | 96 | 97 | 87 | 92 | 91 | |
Operating Cycle, Sector | ||||||
Food, Beverage & Tobacco | 97 | 97 | 91 | 99 | 95 | |
Operating Cycle, Industry | ||||||
Consumer Staples | 55 | 59 | 51 | 53 | 55 |
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
Operating cycle = Average inventory processing period + Average receivable collection period
= 46 + 43 = 89
2 Click competitor name to see calculations.
Short-term activity ratio | Description | The company |
---|---|---|
Operating cycle | Equal to average inventory processing period plus average receivables collection period. | PepsiCo Inc. operating cycle deteriorated from 2021 to 2022 but then slightly improved from 2022 to 2023. |
Average Payables Payment Period
Dec 30, 2023 | Dec 31, 2022 | Dec 25, 2021 | Dec 26, 2020 | Dec 28, 2019 | ||
---|---|---|---|---|---|---|
Selected Financial Data | ||||||
Payables turnover | 3.60 | 3.78 | 3.77 | 3.59 | 3.76 | |
Short-term Activity Ratio (no. days) | ||||||
Average payables payment period1 | 101 | 97 | 97 | 102 | 97 | |
Benchmarks (no. days) | ||||||
Average Payables Payment Period, Competitors2 | ||||||
Coca-Cola Co. | 110 | 108 | 109 | 96 | 95 | |
Mondelēz International Inc. | 136 | 137 | 141 | 140 | 138 | |
Average Payables Payment Period, Sector | ||||||
Food, Beverage & Tobacco | 113 | 109 | 111 | 111 | 107 | |
Average Payables Payment Period, Industry | ||||||
Consumer Staples | 52 | 56 | 54 | 54 | 53 |
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
Average payables payment period = 365 ÷ Payables turnover
= 365 ÷ 3.60 = 101
2 Click competitor name to see calculations.
Short-term activity ratio | Description | The company |
---|---|---|
Average payables payment period | An estimate of the average number of days it takes a company to pay its suppliers; equal to the number of days in the period divided by payables turnover ratio for the period. |
Cash Conversion Cycle
Dec 30, 2023 | Dec 31, 2022 | Dec 25, 2021 | Dec 26, 2020 | Dec 28, 2019 | ||
---|---|---|---|---|---|---|
Selected Financial Data | ||||||
Average inventory processing period | 46 | 47 | 43 | 48 | 40 | |
Average receivable collection period | 43 | 43 | 40 | 44 | 43 | |
Average payables payment period | 101 | 97 | 97 | 102 | 97 | |
Short-term Activity Ratio | ||||||
Cash conversion cycle1 | -12 | -7 | -14 | -10 | -14 | |
Benchmarks | ||||||
Cash Conversion Cycle, Competitors2 | ||||||
Coca-Cola Co. | 4 | 8 | 5 | 28 | 28 | |
Mondelēz International Inc. | -40 | -40 | -54 | -48 | -47 | |
Cash Conversion Cycle, Sector | ||||||
Food, Beverage & Tobacco | -16 | -12 | -20 | -12 | -12 | |
Cash Conversion Cycle, Industry | ||||||
Consumer Staples | 3 | 3 | -3 | -1 | 2 |
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
Cash conversion cycle = Average inventory processing period + Average receivable collection period – Average payables payment period
= 46 + 43 – 101 = -12
2 Click competitor name to see calculations.
Short-term activity ratio | Description | The company |
---|---|---|
Cash conversion cycle | A financial metric that measures the length of time required for a company to convert cash invested in its operations to cash received as a result of its operations; equal to average inventory processing period plus average receivables collection period minus average payables payment period. | PepsiCo Inc. cash conversion cycle deteriorated from 2021 to 2022 but then improved from 2022 to 2023 not reaching 2021 level. |