PepsiCo, Inc. (PEP) quarterly cash flow statement — complete operating, investing & financing history
PepsiCo, Inc. (PEP) cash flow statement — 30-year operating, investing & financing cash flows
| Metric | Q3'26 | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 | Q2'23 | Q1'23 | Q4'22 | Q3'22 | Q2'22 | Q1'22 | Q4'21 |
|---|
| Cash from Operations | 5.58B | 2.32B | 41M | 6.62B | 4.47B | 1.97B | -973M | 6.29B | 4.91B | 2.36B | -1.04B | 5.81B | 5.61B | 2.41B | -392M | 4.5B | 4.42B | 2.06B | -174M | 4.98B |
| Operating CF Margin % | 22.1% | 9.61% | 0.21% | 22.56% | 18.68% | 8.66% | -5.43% | 22.63% | 21.03% | 10.47% | -5.7% | 20.87% | 23.92% | 10.8% | -2.2% | 16.09% | 20.14% | 10.16% | -1.07% | 19.73% |
| Operating CF Growth % | 24.89% | 18.03% | 104.21% | 5.28% | -8.83% | -16.43% | 6.53% | 8.17% | -12.58% | -2.28% | -165.56% | 29.01% | 26.8% | 17.32% | -125.29% | -9.57% | 3.05% | -32.82% | 75.8% | 10.96% |
| Net Income | 3.07B | 3B | 2.34B | 2.56B | 2.62B | 1.28B | 1.84B | 1.53B | 2.94B | 3.09B | 2.05B | 1.32B | 3.12B | 2.77B | 1.94B | 535M | 2.7B | 1.45B | 4.27B | 1.32B |
| Depreciation & Amortization | 892M | 897M | 742M | 1.37B | 998M | 977M | 829M | 1.26B | 899M | 889M | 768M | 1.16B | 841M | 810M | 706M | 1.08B | 782M | 760M | 658M | 1.35B |
| Stock-Based Compensation | 78M | 69M | 93M | 81M | 76M | 54M | 77M | 102M | 77M | 86M | 97M | 113M | 88M | 86M | 93M | 110M | 77M | 75M | 81M | 86M |
| Deferred Taxes | 169M | 268M | 226M | 41M | 290M | -371M | 111M | 52M | -18M | 26M | 116M | -614M | 73M | 192M | 78M | -551M | -285M | -208M | 257M | 37M |
| Other Non-Cash Items | 311M | -923M | -307M | 153M | 146M | 1.12B | -522M | 937M | 221M | -774M | -160M | 1.4B | -58M | -283M | -66M | 2.14B | -87M | 968M | -3.12B | 170M |
| Working Capital Changes | 1.06B | -991M | -3.05B | 2.42B | 344M | -1.09B | -3.31B | 2.4B | 781M | -965M | -3.92B | 2.42B | 1.55B | -1.17B | -3.15B | 1.19B | 1.24B | -986M | -2.33B | 2.02B |
| Change in Receivables | -267M | -1.33B | -530M | 1.17B | -165M | -1.26B | -318M | 1.38B | -383M | -1.04B | -96M | 906M | -369M | -982M | -348M | 495M | -505M | -916M | -837M | 765M |
| Change in Inventory | 214M | -487M | -315M | 299M | 351M | -562M | -238M | 178M | 204M | -405M | -291M | 212M | 378M | -309M | -542M | -305M | 153M | -441M | -549M | -3M |
| Change in Payables | 842M | 647M | -1.85B | 970M | 436M | 588M | -2.67B | 1.15B | 656M | 440M | -3.41B | 1.28B | 1.1B | 299M | -2.26B | 1.42B | 1.42B | 248M | -1.24B | 1.66B |
| Cash from Investing | -955M | -915M | -477M | -1.64B | -1.11B | -2.9B | -1.23B | -2.51B | -1.51B | -892M | -562M | -3.12B | -956M | -891M | -532M | -2.74B | -1.86B | -783M | 2.96B | -2.24B |
| Capital Expenditures | -916M | -819M | -447M | -1.92B | -992M | -904M | -603M | -2.47B | -1.15B | -1.09B | -614M | -2.98B | -1.02B | -932M | -581M | -2.65B | -1.06B | -977M | -522M | -2.35B |
| CapEx % of Revenue | 3.62% | 3.39% | 2.3% | 6.53% | 4.14% | 3.98% | 3.37% | 8.88% | 4.93% | 4.83% | 3.36% | 10.7% | 4.37% | 4.18% | 3.26% | 9.47% | 4.81% | 4.83% | 3.22% | 9.3% |
| Acquisitions | 0 | -81M | -67M | -220M | -46M | -1.93B | -1.2B | -204M | 9M | 178M | 54M | -115M | -49M | -77M | 69M | -35M | -775M | 3.67B | 3.45B | -22M |
| Investments | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Other Investing | -23M | 57M | 32M | 463M | -93M | -70M | 128M | 164M | 51M | 24M | -10M | -1M | 26M | 135M | 19M | 27M | 14M | -3.46B | 7M | -1M |
| Cash from Financing | -3.77B | -1.79B | 1.66B | -3.97B | -2.88B | 100M | 1.77B | -2.27B | -2.38B | -2.91B | 10M | -3.04B | -656M | -87M | 777M | -2.92B | -1.48B | -2.35B | -1.78B | -3.56B |
| Debt Issued (Net) | -1.5B | 394M | 2.6B | -1.74B | -685M | 2.3B | 3.87B | -168M | -248M | -854M | 1.97B | -1.01B | 1.39B | 1.77B | 2.62B | -954M | 567M | -378M | -45M | -1.3B |
| Equity Issued (Net) | -252M | -291M | -182M | -151M | -258M | -311M | -183M | -240M | -299M | -338M | -80M | -254M | -284M | -253M | -160M | -319M | -433M | -466M | -144M | -10M |
| Dividends Paid | -2.02B | -1.95B | -1.97B | -1.95B | -1.95B | -1.86B | -1.88B | -1.86B | -1.86B | -1.74B | -1.77B | -1.74B | -1.74B | -1.59B | -1.61B | -1.59B | -1.59B | -1.49B | -1.5B | -1.49B |
| Share Repurchases | -260M | -297M | -182M | -248M | -258M | -311M | -183M | -240M | -299M | -315M | -146M | -249M | -298M | -293M | -160M | -344M | -457M | -506M | -193M | -10M |
| Other Financing | 0 | 53M | 1.21B | -132M | 16M | -29M | -41M | -6M | 28M | 21M | -108M | -39M | -18M | -16M | -73M | -57M | -20M | -16M | -86M | -762M |
| Net Change in Cash | 425M | -248M | 1.35B | 1.03B | 459M | -607M | -234M | 1.21B | 925M | -1.71B | -1.63B | -370M | 3.89B | 1.41B | -263M | -1.42B | 973M | -1.15B | 984M | -900M |
| Free Cash Flow | 4.67B | 1.5B | -406M | 4.7B | 3.48B | 1.06B | -1.58B | 3.82B | 3.76B | 1.27B | -1.66B | 2.83B | 4.59B | 1.48B | -973M | 1.85B | 3.37B | 1.08B | -696M | 2.63B |
| FCF Margin % | 18.47% | 6.22% | -2.09% | 16.03% | 14.54% | 4.69% | -8.8% | 13.75% | 16.11% | 5.64% | -9.07% | 10.17% | 19.56% | 6.63% | -5.45% | 6.62% | 15.33% | 5.33% | -4.3% | 10.43% |
| FCF Growth % | 34.17% | 41.31% | 74.24% | 23.15% | -7.35% | -16.08% | 4.77% | 34.9% | -18.12% | -14.2% | -70.09% | 52.7% | 36.19% | 37.2% | -39.8% | -29.59% | 1.35% | -51.55% | 41.51% | 13.3% |
| FCF per Share | 3.42 | 1.10 | -0.30 | 3.43 | 2.54 | 0.78 | -1.15 | 2.77 | 2.73 | 0.92 | -1.20 | 2.05 | 3.32 | 1.07 | -0.70 | 1.34 | 2.43 | 0.78 | -0.50 | 1.89 |
| FCF Conversion (FCF/Net Income) | 1.83x | 0.77x | 0.02x | 2.61x | 1.72x | 1.56x | -0.53x | 4.13x | 1.67x | 0.76x | -0.51x | 4.46x | 1.81x | 0.88x | -0.20x | 8.70x | 1.64x | 1.44x | -0.04x | 3.77x |
| Interest Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Taxes Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |