PEP
PEPSICO INC
Consumer Staples • CIK: 0000077476
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Market Cap
$205.30B
P/E (TTM)
23.5x
Rev Growth (TTM)
+4.3%
Net Margin (TTM)
9.1%
FCF Yield (TTM)
4.3%
FCF Margin (TTM)
9.3%
Cash Flow Health
Free Cash Flow6/8 positive
TTM$8.8B
Q1 '26
$-406M-109%
Q4 '26
$4.7B+35%
FCF Margin
TTM9.3%
Q1 '26-2.1%-113%
Sector: 5.2%Above Avg
OCF Margin13.7%
OCF/NI1.50x
CapEx Coverage3.1x
FCF Yield4.3%
FCF Growth (2Y)+18%
Cash Conversion Cycle
51 days
DSO: 0+DIO: 51−DPO: 0
Capital Allocation & Returns
Shareholder Friendly
Total Shareholder YieldTTM
TTM4.2%
Div Yield3.8%
+Buyback (TTM)0.5%
Strong capital returns to shareholders
Dividend & Payout Metrics
Dividend Yield (TTM)3.8%
FCF Payout Ratio87.3%
Free Cash Flow (TTM)$8.8B
Stock Repurchases (TTM)$999.0M
Capital Return / FCF98.6%
Est. Dividends Paid (TTM)$7.7B
Shows how management rewards shareholders
Operational Efficiency & Returns
Return on Invested CapitalTTM
14.3%
Stable
-0.0% YoY-4.3%
P25MedianP75
75th pctl (med: 0.1%)
DuPont BreakdownROIC = Margin × Turn × (1+D/E)
NOPAT Margin
10.3%
8Q: 11.5%
Asset Turnover
0.90x
8Q: 0.90x
Leverage (1+D/E)
3.30x
D/E: 2.30x
DuPont: 30.4% ≈ 14.3% ROIC
Asset & CapEx Efficiency
Fixed Asset Turn
3.27x
8Q:3.33x
-33.1%
Invested Cap Turn
2.13x
8Q:2.21x
-26.3%
CapEx Intensity
9.5%
8Q:9.9%
CapEx/Depreciation
1.21x
Asset-based ROIC formula
QUARTERLY TRENDS
Last 8 quarters + TTM
| Metric | TTM | Q1 2026 | Q4 2026 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2025 | Q3 2024 | Q2 2024 |
|---|---|---|---|---|---|---|---|---|---|
Revenue | $95.4B | $19.4B↓33.7% | $29.3B↑22.6% | $23.9B↑5.3% | $22.7B↑26.8% | $17.9B↓35.5% | $27.8B↑19.1% | $23.3B↑3.6% | $22.5B |
Operating Income | $12.1B | $3.2B↓9.7% | $3.6B↓0.3% | $3.6B↑99.5% | $1.8B↓30.7% | $2.6B↑14.8% | $2.3B↓41.9% | $3.9B↓4.3% | $4.0B |
Net Income | $8.7B | $2.3B↓8.4% | $2.5B↓2.4% | $2.6B↑106.1% | $1.3B↓31.1% | $1.8B↑20.4% | $1.5B↓48.0% | $2.9B↓5.0% | $3.1B |
Operating Cash Flow | $13.1B | $41.0M↓99.4% | $6.6B↑48.0% | $4.5B↑127.1% | $2.0B↑302.4% | $-973.0M↓115.5% | $6.3B↑28.2% | $4.9B↑108.2% | $2.4B |
Free Cash Flow | $8.8B | $-406.0M↓108.6% | $4.7B↑35.1% | $3.5B↑226.8% | $1.1B↑167.6% | $-1.6B↓141.3% | $3.8B↑1.7% | $3.8B↑196.0% | $1.3B |
Total Equity | N/A |
Valuation Analysis
Fair Value
Price-to-EarningsTTM
23.5x
Volatile
8Q: 85.8x-596%
Valuation Lenses
Earnings
23.5x
vs – sector
Cash Flow
27.8x
EV/FCF vs –
Growth-Adj
–PEG
N/A
Quality-Adj
1.6P/E per %ROIC
ROIC: 14.3%
Shareholder Returns
Dividend
3.8%
Buyback
0.5%
Total Yield
4.2%
Market Cap$205.30B
EV$245.39B
Multi-angle valuation analysis with sector context
Business Quality & Moat
Overall Quality Score
94/100
Exceptional
Composite score: Returns (40%) + Consistency (30%) + Earnings Quality (30%)
Returns on Capital
Return on Equity (ROE)Top 10%
44.7%
8Q:–
Return on Invested Capital (ROIC)Top 25%
14.3%
8Q:–
-4.3%
vs Sector:0.1%
DuPont Analysis (ROIC = NOPAT Margin × Asset Turnover)
NOPAT Margin: 10.3%
Asset Turnover: 0.90x
Earnings Quality
Cash Conversion
1.50x
OCF / Net Income ✓
FCF Consistency
–
Positive quarters
Competitive Moat Indicators
Pricing Power
Gross Margin54.1%
Capital Efficiency
Invested Capital Turnover2.13x
Working Capital
Cash Conversion Cycle51 days
Growth Quality & Momentum
Moderate Growth
Growth Quality Score
63/100
Growth 40%
Margins 30%
FCF 20%
Consistency 10%
Growth Rates
Revenue Growth YoY
4.3%
OpInc Growth YoY
24.4%
EPS Growth YoY
-6.5%
FCF 3Y CAGR
18.4%
Growth Quality Analysis
✓Efficient Growth: Free cash flow growing faster than revenue
Margin Quality & Sustainability
High Quality
Profitability Cascade
Gross
54.1%
Operating
12.7%
Top 25% in sector
Net
9.1%
Margins Unknown
Earnings Quality Signals
SBC / Revenue
—
FCF vs Net Gap
+0.1 pts
FCF: 9.3% | Net: 9.1%
Quality = stability + cash conversion + low dilution
Balance Sheet & Solvency
Leveraged
Net Debt / EBITDA
–Net Debt: $38.27B
Interest Coverage
–
Leverage Metrics
Debt-to-Equity
2.30x
Balance sheet risk & solvency analysis