PepsiCo, Inc. (PEP) Financial Ratios
30 years of historical data (1996–2025) · Consumer Defensive · Beverages - Non-Alcoholic
EV/EBITDA
↓
16.42
-6% vs avg
5yr avg: 17.45
30Y Low10.3·High19.3
P/FCF
↓
25.30
↓-23% vs avg
5yr avg: 32.74
30Y Low7.0·High44.7
P/B Ratio
↓
9.48
↓-25% vs avg
5yr avg: 12.63
30Y Low4.8·High15.7
ROE
↓
42.6%
-15% vs avg
5yr avg: 50.0%
30Y Low16%·High98%
Debt/EBITDA
↑
3.49
+20% vs avg
5yr avg: 2.91
30Y Low0.4·High3.5
Percentile shows where the current value sits in 30-year historical distribution. Sparklines show 5-year trend.
PEP Valuation Multiples
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
PepsiCo, Inc. trades at 23.7x earnings, 10% below its 5-year average of 26.3x, sitting at the 43rd percentile of its historical range. Compared to the Consumer Defensive sector median P/E of 18.8x, the stock trades at a premium of 26%. On a free-cash-flow basis, the stock trades at 25.3x P/FCF, 23% below the 5-year average of 32.7x.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $194.1B | $197.1B | $209.5B | $234.9B | $250.6B | $241.3B | $206.4B | $192.3B | $157.4B | $172.4B | $151.9B |
| Enterprise Value | $234.8B | $237.9B | $246.0B | $269.8B | $285.2B | $276.5B | $242.9B | $219.3B | $181.0B | $201.1B | $179.7B |
| P/E Ratio → | 23.67 | 23.96 | 21.88 | 25.89 | 28.14 | 31.70 | 29.02 | 26.28 | 12.58 | 35.48 | 24.00 |
| P/S Ratio | 2.07 | 2.10 | 2.28 | 2.57 | 2.90 | 3.04 | 2.93 | 2.86 | 2.43 | 2.71 | 2.42 |
| P/B Ratio | 9.48 | 9.59 | 11.53 | 12.60 | 14.51 | 14.94 | 15.23 | 12.93 | 10.78 | 15.70 | 13.57 |
| P/FCF | 25.30 | 25.69 | 29.15 | 29.64 | 44.71 | 34.51 | 32.39 | 35.50 | 25.67 | 24.55 | 20.63 |
| P/OCF | 16.06 | 16.31 | 16.75 | 17.47 | 23.18 | 20.77 | 19.45 | 19.93 | 16.72 | 17.25 | 14.60 |
P/E links to full P/E history page with 30-year chart
PEP EV Ratios
Enterprise-value multiples — capital-structure-neutral measures of total business value
PepsiCo, Inc.'s enterprise value stands at 16.4x EBITDA, 6% below its 5-year average of 17.5x. The Consumer Defensive sector median is 11.0x, placing the stock at a 49% premium on an enterprise-value basis.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 2.53 | 2.68 | 2.95 | 3.30 | 3.48 | 3.45 | 3.27 | 2.80 | 3.17 | 2.86 |
| EV / EBITDA | 16.42 | 16.63 | 14.73 | 17.40 | 19.28 | 19.23 | 18.53 | 16.70 | 14.47 | 15.90 | 14.76 |
| EV / EBIT | 20.42 | 20.53 | 19.12 | 22.05 | 24.49 | 23.66 | 23.82 | 21.40 | 17.39 | 18.70 | 18.16 |
| EV / FCF | — | 31.00 | 34.22 | 34.05 | 50.89 | 39.55 | 38.11 | 40.48 | 29.52 | 28.63 | 24.40 |
PEP Profitability
Margins and return-on-capital ratios measuring operating efficiency
PepsiCo, Inc. earns an operating margin of 12.2%, above the Consumer Defensive sector average of 3.5%. Return on equity of 42.6% is exceptionally high — well above the sector median of 6.5%. ROIC of 14.9% represents solid returns on invested capital versus a sector median of 5.7%.
Margins
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 54.1% | 54.1% | 54.6% | 54.2% | 53.0% | 53.3% | 54.8% | 55.1% | 54.6% | 54.7% | 55.1% |
| Operating Margin | 12.2% | 12.2% | 14.0% | 13.1% | 13.3% | 14.0% | 14.3% | 15.3% | 15.6% | 16.2% | 15.6% |
| Net Profit Margin | 8.8% | 8.8% | 10.4% | 9.9% | 10.3% | 9.6% | 10.1% | 10.9% | 19.4% | 7.6% | 10.1% |
Return on Capital
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 42.6% | 42.6% | 52.0% | 50.5% | 53.3% | 51.3% | 50.1% | 49.6% | 97.8% | 43.8% | 54.5% |
| ROA | 8.0% | 8.0% | 9.6% | 9.4% | 9.7% | 8.2% | 8.3% | 9.4% | 15.9% | 6.3% | 8.8% |
| ROIC | 14.9% | 14.9% | 17.9% | 17.0% | 16.7% | 16.5% | 16.5% | 19.3% | 19.5% | 19.6% | 19.6% |
| ROCE | 16.1% | 16.1% | 18.8% | 17.9% | 17.5% | 16.5% | 15.8% | 18.1% | 17.6% | 18.4% | 18.8% |
PEP Leverage & Debt
Solvency and debt-coverage ratios — lower is generally safer
PepsiCo, Inc. carries a Debt/EBITDA ratio of 3.5x, which is moderately leveraged (roughly in line with the sector average of 3.5x). Net debt stands at $40.7B ($49.9B total debt minus $9.2B cash). Interest coverage of 10.3x signals virtually no risk of debt distress — earnings comfortably cover interest obligations.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 2.43 | 2.43 | 2.47 | 2.40 | 2.29 | 2.52 | 3.29 | 2.19 | 2.21 | 3.58 | 3.30 |
| Debt / EBITDA | 3.49 | 3.49 | 2.69 | 2.88 | 2.67 | 2.84 | 3.40 | 2.48 | 2.58 | 3.11 | 3.04 |
| Net Debt / Equity | — | 1.98 | 2.01 | 1.88 | 2.00 | 2.18 | 2.69 | 1.82 | 1.62 | 2.61 | 2.48 |
| Net Debt / EBITDA | 2.85 | 2.85 | 2.18 | 2.25 | 2.34 | 2.45 | 2.78 | 2.06 | 1.89 | 2.27 | 2.28 |
| Debt / FCF | — | 5.31 | 5.07 | 4.41 | 6.17 | 5.03 | 5.72 | 4.98 | 3.85 | 4.08 | 3.77 |
| Interest Coverage | 10.26 | 10.26 | 14.02 | 14.63 | 12.26 | 5.99 | 8.94 | 11.01 | 8.29 | 8.93 | 7.31 |
PEP Liquidity & Efficiency
Short-term solvency ratios and asset-utilisation metrics
The current ratio of 0.85x is below 1.0, meaning current liabilities exceed current assets — though the company's $9.2B cash position helps mitigate short-term liquidity concerns.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 0.85 | 0.85 | 0.82 | 0.85 | 0.80 | 0.83 | 0.98 | 0.86 | 0.99 | 1.51 | 1.25 |
| Quick Ratio | 0.67 | 0.67 | 0.65 | 0.68 | 0.61 | 0.66 | 0.81 | 0.70 | 0.85 | 1.37 | 1.12 |
| Cash Ratio | 0.29 | 0.29 | 0.29 | 0.32 | 0.20 | 0.23 | 0.41 | 0.28 | 0.41 | 0.95 | 0.76 |
| Asset Turnover | — | 0.87 | 0.92 | 0.91 | 0.94 | 0.86 | 0.76 | 0.86 | 0.83 | 0.80 | 0.85 |
| Inventory Turnover | 7.37 | 7.37 | 7.87 | 7.85 | 7.77 | 8.53 | 7.62 | 9.03 | 9.39 | 9.77 | 10.36 |
| Days Sales Outstanding | — | 44.71 | 41.06 | 43.16 | 42.94 | 39.86 | 43.59 | 42.51 | 40.32 | 40.36 | 38.91 |
PEP Shareholder Yields
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
PepsiCo, Inc. returns 4.4% to shareholders annually — split between a 3.9% dividend yield and 0.5% buyback yield. The payout ratio of 92.7% is elevated — while still covered by earnings, there is limited headroom for dividend increases. The earnings yield of 4.2% (inverse of P/E) provides a useful comparison to bond yields when assessing the stock's relative attractiveness to fixed income.
Dividends
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 3.9% | 3.9% | 3.5% | 2.8% | 2.5% | 2.4% | 2.7% | 2.8% | 3.1% | 2.6% | 2.8% |
| Payout Ratio | 92.7% | 92.7% | 75.5% | 73.6% | 69.3% | 76.3% | 77.4% | 72.5% | 39.4% | 92.1% | 66.8% |
Total Shareholder Return Metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 4.2% | 4.2% | 4.6% | 3.9% | 3.6% | 3.2% | 3.4% | 3.8% | 7.9% | 2.8% | 4.2% |
| FCF Yield | 4.0% | 3.9% | 3.4% | 3.4% | 2.2% | 2.9% | 3.1% | 2.8% | 3.9% | 4.1% | 4.8% |
| Buyback Yield | 0.5% | 0.5% | 0.5% | 0.4% | 0.6% | 0.0% | 1.0% | 1.6% | 1.3% | 1.2% | 2.0% |
| Total Shareholder Yield | 4.4% | 4.4% | 3.9% | 3.3% | 3.1% | 2.5% | 3.6% | 4.3% | 4.4% | 3.8% | 4.8% |
| Shares Outstanding | — | $1.4B | $1.4B | $1.4B | $1.4B | $1.4B | $1.4B | $1.4B | $1.4B | $1.4B | $1.5B |
Peer Comparison
Compare PEP with 10 similar companies in its peer group
| Company | Market Cap | P/E | EV/EBITDA | P/FCF | Gross Margin | Op Margin | ROE | ROIC | Debt/EBITDA |
|---|---|---|---|---|---|---|---|---|---|
 PEPYou | $194B | 23.7 | 16.4 | 25.3 | 54.1% | 12.2% | 42.6% | 14.9% | 3.5 |
 KO | $342B | 26.1 | 25.4 | 64.5 | 61.6% | 28.7% | 43.2% | 15.8% | 3.1 |
 MDLZ | $77B | 31.8 | 19.6 | 23.9 | 28.0% | 9.4% | 9.3% | 6.0% | 4.5 |
 GIS | $18B | 8.2 | 8.5 | 7.8 | 34.6% | 17.0% | 24.3% | 10.6% | 4.0 |
 CPB | $6B | 10.5 | 7.5 | 8.9 | 30.4% | 13.2% | 15.6% | 9.1% | 4.0 |
 CAG | $6B | 5.5 | 8.3 | 4.8 | 25.9% | 11.8% | 12.9% | 6.0% | 4.7 |
 HRL | $13B | 27.8 | 15.8 | 24.9 | 15.6% | 5.9% | 6.0% | 5.3% | 2.9 |
 SJM | $12B | -85.3 | 33.0 | 10.2 | 33.5% | 4.0% | -2.4% | 2.1% | 12.4 |
 KDP | $42B | 20.1 | 12.9 | 27.8 | 52.4% | 22.0% | 8.4% | 6.7% | 3.7 |
 MNST | $89B | 47.1 | 34.4 | 45.4 | 55.8% | 29.2% | 26.8% | 33.1% | — |
 CELH | $8B | 123.2 | 16.4 | 24.3 | 50.4% | 18.6% | 5.2% | 19.7% | 1.3 |
| Consumer Defensive Median | — | 18.8 | 11.0 | 15.3 | 40.8% | 3.5% | 6.5% | 5.7% | 3.5 |
Peer selection based on competitive and market overlap. Compare multiple stocks →
Download Financial Ratios Data
Includes 30+ ratios · 30 years · Updated daily
Consensus-Based Analysis Tools
Full Stock Analysis
Deep dive into PEP consensus models and risk factors.
View Analysis
Should I Buy PEP?
Wall Street verdict, signals, and target summaries.
See Verdict
Intrinsic Valuation
DCF models, multiple analysis, and analyst estimates.
Check Valuation
Historical Returns
10-year return with dividends reinvested.
Calculate
DCA Calculator
See how regular investing compounds over time.
Run Numbers
Peer Comparison
Compare growth, multiples, and margins vs sector.
Compare
PEP — Frequently Asked Questions
Quick answers to the most common questions about buying PEP stock.
What is PepsiCo, Inc.'s P/E ratio?
PepsiCo, Inc.'s current P/E ratio is 23.7x. The historical average is 24.7x. This places it at the 43th percentile of its historical range.
What is PepsiCo, Inc.'s EV/EBITDA?
PepsiCo, Inc.'s current EV/EBITDA is 16.4x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 14.8x.
What is PepsiCo, Inc.'s ROE?
PepsiCo, Inc.'s return on equity (ROE) is 42.6%. This is above the typical threshold of 15-20% considered good for most companies. The historical average is 39.7%.
Is PEP stock overvalued?
Based on historical data, PepsiCo, Inc. is trading at a P/E of 23.7x. This is at the 43th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
What is PepsiCo, Inc.'s dividend yield?
PepsiCo, Inc.'s current dividend yield is 3.92% with a payout ratio of 92.7%.
What are PepsiCo, Inc.'s profit margins?
PepsiCo, Inc. has 54.1% gross margin and 12.2% operating margin. Operating margin between 10-20% is typical for established companies.
How much debt does PepsiCo, Inc. have?
PepsiCo, Inc.'s Debt/EBITDA ratio is 3.5x, indicating high leverage. A ratio between 2-4x is manageable but warrants monitoring.