Enterprise Value (EV)
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PepsiCo Inc. pages available for free this week:
- Income Statement
- Statement of Comprehensive Income
- Balance Sheet: Liabilities and Stockholders’ Equity
- Common-Size Income Statement
- Common-Size Balance Sheet: Liabilities and Stockholders’ Equity
- DuPont Analysis: Disaggregation of ROE, ROA, and Net Profit Margin
- Current Ratio since 2005
- Price to Earnings (P/E) since 2005
- Price to Operating Profit (P/OP) since 2005
- Analysis of Debt
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Current Enterprise Value (EV)
PepsiCo Inc., current enterprise value calculation
| Current share price (P) | |
| No. shares of common stock outstanding | |
| US$ in millions | |
| Common equity (market value)1 | |
| Add: Noncontrolling interests (per books) | |
| Total equity | |
| Add: Short-term debt obligations (per books) | |
| Add: Long-term debt obligations, excluding current maturities (per books) | |
| Total equity and debt | |
| Less: Cash and cash equivalents | |
| Less: Short-term investments | |
| Enterprise value (EV) | |
Based on: 10-K (reporting date: 2025-12-27).
1 Common equity (market value) = Share price × No. shares of common stock outstanding
= ×
Historical Enterprise Value (EV)
PepsiCo Inc., EV calculation
Based on: 10-K (reporting date: 2025-12-27), 10-K (reporting date: 2024-12-28), 10-K (reporting date: 2023-12-30), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-25).
1 Data adjusted for splits and stock dividends.
2 Closing price as at the filing date of PepsiCo Inc. Annual Report.
3 2025 Calculation
Common equity (market value) = Share price × No. shares of common stock outstanding
= ×
The information presents a five-year view of several financial metrics, including common equity market value, total equity, total equity and debt, and enterprise value. Overall, enterprise value exhibits fluctuations over the period, with a general trend towards volatility.
- Enterprise Value Trend
- Enterprise value decreased from US$267.386 billion in 2021 to US$264.687 billion in 2023, representing a cumulative decline of approximately 0.97%. A more substantial decrease was observed in 2024, falling to US$231.967 billion. However, the most recent year, 2025, shows a recovery to US$262.352 billion, though it remains below the 2021 level.
- Equity Components
- Common equity (market value) mirrored the enterprise value trend, initially increasing from US$232.932 billion in 2021 to US$237.961 billion in 2022, before declining to US$230.451 billion in 2023 and a significant drop to US$196.797 billion in 2024. A rebound to US$222.559 billion is noted in 2025.
- Total equity followed a similar pattern, with a peak of US$238.085 billion in 2022 and a low of US$196.927 billion in 2024, recovering to US$222.700 billion in 2025.
- Debt Influence
- Total equity and debt generally increased from US$273.374 billion in 2021 to US$277.156 billion in 2022, then decreased to US$274.690 billion in 2023. A more pronounced decrease occurred in 2024, reaching US$241.233 billion, followed by an increase to US$271.882 billion in 2025. The fluctuations in total equity and debt appear to partially offset changes in equity market value, influencing the enterprise value.
The largest percentage decrease in enterprise value occurred between 2023 and 2024. The recovery observed in 2025 suggests a potential stabilization, but further monitoring is warranted to confirm a sustained upward trend. The interplay between equity components and debt levels appears to be a key driver of the observed enterprise value movements.