financial statements

The full income statement, balance sheet, and cash-flow statement for PepsiCo Inc. (PEP), plus valuation ratios — straight from SEC filings. Switch between annual, quarterly, and trailing-twelve-month figures, pick how far back to look, and flip the time order. Every line has a trend sparkline.

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PeriodRangeOrderChangeYoYQoQAs-reported fiscal years.

Line item	FY2025	FY2024	FY2023	FY2022	FY2021
Income Statement	as ofDec 27 ’25	as ofDec 28 ’24	as ofDec 30 ’23	as ofDec 31 ’22	as ofDec 25 ’21
Revenue	93.9B YoY+2.3%	91.9B YoY+0.4%	91.5B YoY+5.9%	86.4B YoY+8.7%	79.5B YoY+12.9%
	50.9B YoY+1.5%	50.1B YoY+1.0%	49.6B YoY+8.2%	45.8B YoY+8.1%	42.4B YoY+9.9%
Cost of revenue	43.1B YoY+3.2%	41.7B YoY-0.3%	41.9B YoY+3.2%	40.6B YoY+9.4%	37.1B YoY+16.6%
Research & development	839M YoY+3.2%	813M YoY+1.1%	804M YoY+4.3%	771M YoY+2.5%	752M YoY+4.6%
Selling, general & administrative	37.4B YoY+0.5%	37.2B YoY+1.4%	36.7B YoY+6.4%	34.5B YoY+10.3%	31.2B YoY+9.8%
Restructuring	—	-5.00M YoY-400.0%	-1.00M	0.00 YoY-100.0%	1.00M YoY+200.0%
Amortization of intangibles	83.0M YoY+12.2%	74.0M YoY-1.3%	75.0M YoY-3.8%	78.0M YoY-14.3%	91.0M YoY+1.1%
Operating income	11.5B YoY-10.8%	12.9B YoY+7.5%	12.0B YoY+4.1%	11.5B YoY+3.1%	11.2B YoY+10.7%
Interest expense	1.12B YoY+22.0%	919M YoY+12.2%	819M YoY-12.8%	939M YoY-49.6%	1.86B YoY+65.2%
Pre-tax income	10.2B YoY-14.2%	11.9B YoY+4.6%	11.4B YoY+6.7%	10.7B YoY+9.0%	9.82B YoY+8.3%
Income tax	1.95B YoY-16.0%	2.32B YoY+2.6%	2.26B YoY+31.0%	1.73B YoY-19.4%	2.14B YoY+13.1%
	8.24B YoY-14.0%	9.58B YoY+5.6%	9.07B YoY+1.8%	8.91B YoY+17.0%	7.62B YoY+7.0%
Net income to non-controlling interest	55.0M YoY+14.6%	48.0M YoY-40.7%	81.0M YoY+19.1%	68.0M YoY+11.5%	61.0M YoY+10.9%
Net income to common	8.24B YoY-14.0%	9.58B YoY+5.6%	9.07B YoY+1.8%	8.91B YoY+17.0%	7.62B YoY+7.0%
	$6.00 YoY-13.7%	$6.95 YoY+5.9%	$6.56 YoY+2.2%	$6.42 YoY+16.9%	$5.49 YoY+7.2%
EPS (basic)	$6.02 YoY-13.6%	$6.97 YoY+5.8%	$6.59 YoY+2.2%	$6.45 YoY+17.1%	$5.51 YoY+7.2%
Weighted-avg shares (basic)	1.37B YoY-0.3%	1.37B YoY-0.2%	1.38B YoY-0.3%	1.38B YoY-0.1%	1.38B YoY-0.2%
Weighted-avg shares (diluted)	1.37B YoY-0.4%	1.38B YoY-0.4%	1.38B YoY-0.3%	1.39B YoY-0.1%	1.39B YoY-0.2%
Dividends per share	$5.62 YoY+5.5%	$5.33 YoY+7.8%	$4.95 YoY+9.3%	$4.53 YoY+6.5%	$4.25 YoY+5.6%
Balance Sheet	as ofDec 27 ’25	as ofDec 28 ’24	as ofDec 30 ’23	as ofDec 31 ’22	as ofDec 25 ’21
	27.9B YoY+8.2%	25.8B YoY-4.2%	26.9B YoY+25.1%	21.5B YoY-1.1%	21.8B YoY-5.3%
Cash & equivalents	9.16B YoY+7.7%	8.51B YoY-12.4%	9.71B YoY+96.0%	4.95B YoY-11.5%	5.60B YoY-31.6%
Short-term investments	371M YoY-51.2%	761M YoY+160.6%	292M YoY-25.9%	394M YoY+0.5%	392M YoY-71.3%
Inventory	5.84B YoY+10.2%	5.31B YoY-0.5%	5.33B YoY+2.1%	5.22B YoY+20.1%	4.35B YoY+4.2%
Prepaid expenses	1.07B YoY+16.0%	921M YoY+15.4%	798M YoY-1.0%	806M YoY-17.8%	980M YoY+12.1%
	107B YoY+8.0%	99.5B YoY-1.0%	100B YoY+9.0%	92.2B YoY-0.2%	92.4B YoY-0.6%
Property, plant & equipment	29.9B YoY+6.8%	28.0B YoY+3.6%	27.0B YoY+11.3%	24.3B YoY+8.4%	22.4B YoY+4.9%
Operating lease right-of-use	3.75B YoY+10.7%	3.38B YoY+16.5%	2.90B YoY+22.4%	2.37B YoY+17.5%	2.02B YoY+21.0%
Goodwill	18.9B YoY+7.9%	17.5B YoY-1.1%	17.7B YoY-2.6%	18.2B YoY-1.0%	18.4B YoY-2.0%
Intangible assets	500M YoY-54.6%	1.10B YoY-8.1%	1.20B YoY-6.1%	1.28B YoY-17.0%	1.54B YoY-9.7%
Deferred tax assets	4.54B YoY+4.1%	4.36B YoY-2.5%	4.47B YoY+6.4%	4.20B YoY-2.5%	4.31B YoY-1.4%
Other non-current assets	8.98B YoY+29.2%	6.95B YoY+4.4%	6.66B YoY+25.9%	5.29B YoY+18.1%	4.48B YoY+35.3%
	32.8B YoY+3.9%	31.5B YoY-0.4%	31.6B YoY+18.2%	26.8B YoY+2.2%	26.2B YoY+12.2%
Accounts payable	11.7B YoY+6.4%	11.0B YoY-5.5%	11.6B YoY+8.4%	10.7B YoY+9.1%	9.83B YoY+11.1%
Accrued liabilities	25.9B YoY+5.9%	24.5B YoY-2.7%	25.1B YoY+7.6%	23.4B YoY+10.5%	21.2B YoY+8.0%
Short-term & current debt	6.86B YoY-3.1%	7.08B YoY+8.8%	6.51B YoY+90.7%	3.41B YoY-20.8%	4.31B YoY+14.0%
Current lease liability	719M YoY+12.0%	642M YoY+15.5%	556M YoY+15.1%	483M YoY+8.3%	446M YoY-3.0%
Other current liabilities	5.77B YoY+10.6%	5.22B YoY+5.0%	4.97B YoY+13.2%	4.39B YoY+10.9%	3.96B YoY+2.7%
	86.9B YoY+6.8%	81.3B YoY-0.7%	81.9B YoY+9.3%	74.9B YoY-1.7%	76.2B YoY-4.0%
Long-term debt	42.3B YoY+13.7%	37.2B YoY-1.0%	37.6B YoY+5.4%	35.7B YoY-1.0%	36.0B YoY-10.8%
Non-current lease liability	3.13B YoY+11.6%	2.80B YoY+16.8%	2.40B YoY+24.2%	1.93B YoY+21.0%	1.60B YoY+29.6%
Deferred tax liabilities	3.80B YoY+9.1%	3.48B YoY-10.6%	3.90B YoY-5.8%	4.13B YoY-14.4%	4.83B YoY+12.7%
Other non-current liabilities	7.96B YoY-12.0%	9.05B YoY+3.8%	8.72B YoY+4.6%	8.34B YoY-8.9%	9.15B YoY-19.3%
	20.4B YoY+13.1%	18.0B YoY-2.5%	18.5B YoY+7.9%	17.1B YoY+6.9%	16.0B YoY+19.2%
Preferred stock	0.00	0.00	0.00	0.00	0.00
Common stock	23.0M YoY+0.0%	23.0M YoY+0.0%	23.0M YoY+0.0%	23.0M YoY+0.0%	23.0M YoY+0.0%
Additional paid-in capital	4.45B YoY+1.5%	4.38B YoY+2.9%	4.26B YoY+3.1%	4.13B YoY+3.3%	4.00B YoY+2.3%
Retained earnings	72.8B YoY+0.7%	72.3B YoY+3.2%	70.0B YoY+3.3%	67.8B YoY+4.0%	65.2B YoY+2.7%
Treasury stock	41.8B YoY+2.0%	41.0B YoY+1.8%	40.3B YoY+2.0%	39.5B YoY+3.3%	38.2B YoY-0.5%
Accumulated other comprehensive income	-15.0B YoY+14.7%	-17.6B YoY-13.4%	-15.5B YoY-1.5%	-15.3B YoY-2.7%	-14.9B YoY+3.7%
Non-controlling interest	141M YoY+8.5%	130M YoY-3.0%	134M YoY+8.1%	124M YoY+14.8%	108M YoY+10.2%
Total equity incl. non-controlling	20.5B YoY+13.1%	18.2B YoY-2.5%	18.6B YoY+7.9%	17.3B YoY+6.9%	16.2B YoY+19.2%
Total liabilities & equity	107B YoY+8.0%	99.5B YoY-1.0%	100B YoY+9.0%	92.2B YoY-0.2%	92.4B YoY-0.6%
Common shares issued	1.37B YoY-0.4%	1.37B YoY-0.1%	1.37B YoY-0.2%	1.38B YoY-0.4%	1.38B YoY+0.2%
Shares outstanding (cover)	1.37B YoY-0.3%	1.37B YoY-0.2%	1.37B YoY-0.2%	1.38B YoY-0.4%	1.38B YoY+0.1%
Cash Flow	as ofDec 27 ’25	as ofDec 28 ’24	as ofDec 30 ’23	as ofDec 31 ’22	as ofDec 25 ’21
	12.1B YoY-3.4%	12.5B YoY-7.0%	13.4B YoY+24.3%	10.8B YoY-6.9%	11.6B YoY+9.5%
Depreciation & amortization	3.45B YoY+9.2%	3.16B YoY+7.2%	2.95B YoY+6.7%	2.76B YoY+2.0%	2.71B YoY+6.4%
Share-based compensation	288M YoY-20.4%	362M YoY-4.7%	380M YoY+10.8%	343M YoY+14.0%	301M YoY+14.0%
Deferred income taxes	25.0M YoY+106.7%	-374M YoY+1.8%	-381M YoY+44.2%	-683M YoY-254.9%	441M YoY+221.9%
Change in inventory	150M YoY-52.2%	314M YoY+20.3%	261M YoY-77.1%	1.14B YoY+96.2%	582M YoY+12.8%
Other operating activities	-712M YoY-128.9%	-311M YoY-264.6%	189M YoY+158.2%	-325M YoY-186.7%	375M YoY+128.7%
	-6.88B YoY-25.7%	-5.47B YoY+0.4%	-5.50B YoY-126.1%	-2.43B YoY+25.7%	-3.27B YoY+71.9%
Capital expenditure	4.42B YoY-17.0%	5.32B YoY-3.6%	5.52B YoY+6.0%	5.21B YoY+12.6%	4.63B YoY+9.1%
Other investing activities	100M YoY+814.3%	-14.0M YoY+70.8%	-48.0M YoY-336.4%	-11.0M YoY-120.0%	-5.00M YoY+87.5%
	-4.98B YoY+34.1%	-7.56B YoY-151.1%	-3.01B YoY+64.7%	-8.52B YoY+20.9%	-10.8B YoY-382.3%
Long-term debt issued	8.19B YoY+102.6%	4.04B YoY-26.3%	5.48B YoY+62.3%	3.38B YoY-18.1%	4.12B YoY-70.1%
Long-term debt repaid	4.08B YoY+5.0%	3.89B YoY+29.3%	3.00B YoY+22.3%	2.46B YoY-28.9%	3.46B YoY+88.8%
Common stock repurchased	1.00B YoY+0.0%	1.00B YoY+0.0%	1.00B YoY-33.3%	1.50B YoY+1315.1%	106M YoY-94.7%
Dividends paid	7.64B YoY+5.7%	7.23B YoY+8.2%	6.68B YoY+8.3%	6.17B YoY+6.1%	5.82B YoY+5.6%
Other financing activities	-73.0M YoY-37.7%	-53.0M YoY+27.4%	-73.0M YoY-1.4%	-72.0M YoY-53.2%	-47.0M YoY+2.1%
FX effect on cash	422M YoY+161.4%	-687M YoY-148.0%	-277M YoY+40.4%	-465M YoY-307.9%	-114M YoY+11.6%
Net change in cash	651M YoY+153.9%	-1.21B YoY-125.9%	4.66B YoY+867.9%	-607M YoY+76.2%	-2.55B YoY-194.9%
Interest paid	1.75B YoY+10.3%	1.58B YoY+13.1%	1.40B YoY+34.3%	1.04B YoY-11.9%	1.18B YoY+2.4%
Income taxes paid	3.08B YoY+0.6%	3.06B YoY+21.0%	2.53B YoY-8.5%	2.77B YoY+43.1%	1.93B YoY+9.2%
Valuation Ratios	as ofDec 27 ’25	as ofDec 28 ’24	as ofDec 30 ’23	as ofDec 31 ’22	as ofDec 25 ’21
Market cap	197B YoY-6.3%	210B YoY-10.2%	234B YoY-6.2%	249B YoY+6.0%	235B YoY+17.1%
P/E	27.3× YoY+21.4%	22.4× YoY-20.4%	28.2× YoY+9.9%	25.7× YoY-11.0%	28.8× YoY+1.0%
P/S	2.1× YoY-6.7%	2.3× YoY-10.5%	2.6× YoY-14.4%	3.0× YoY-2.6%	3.1× YoY+4.5%
P/B	10.2× YoY-6.0%	10.8× YoY-13.2%	12.4× YoY-5.4%	13.1× YoY-11.1%	14.8× YoY-0.8%
P/FCF	29.0× YoY-14.4%	33.9× YoY+0.6%	33.7× YoY-13.8%	39.1× YoY+11.2%	35.1× YoY+11.2%
Earnings yield	3.7% YoY-17.6%	4.5% YoY+25.7%	3.5% YoY-9.0%	3.9% YoY+12.3%	3.5% YoY-1.0%
FCF yield	3.4% YoY+16.8%	3.0% YoY-0.6%	3.0% YoY+16.1%	2.6% YoY-10.1%	2.8% YoY-10.1%
Dividend yield	3.9% YoY+12.2%	3.5% YoY+19.7%	2.9% YoY+16.2%	2.5% YoY+0.1%	2.5% YoY-9.8%
Source filing	10-K	8-K	10-K	8-K	10-K

About this data

Source: PEP's SEC filings (10-K / 10-Q). Annual columns are as-reported fiscal years; quarterly columns are as-reported fiscal quarters (Q4 derived as full-year minus the first three quarters where a company doesn't file a standalone Q4); TTM (quarterly) rolls the trailing four quarters at every quarter end, TTM (yearly) samples that one year apart; balance-sheet rows show the period-end balance. Valuation ratios are sampled as of each period end. View all PEP filings on SEC EDGAR → Not investment advice.

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About this data

financial statements