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PepsiCo Balance Sheet 2021-2011 | PEP
Brief overview of PepsiCo's balance sheet strength
This overview follows the five latest available annual observations between 2021 and 2025.
The asset base progressed from $92.4 billion to $107.4 billion, equal to +16.3% overall and about 3.8% per year.
Assets and liabilities changed at similar rates, +16.3% and +13.9%. The funding mix did not shift sharply.
Equity funds just 19% of assets versus 17.5% previously. The balance sheet is sensitive to weaker results.
By the end of the period, accumulated earnings were $72.8 billion; the change from the start was +11.7%.
Conclusion
PepsiCo's financial structure is not clear-cut. Asset scale alone does not resolve questions about how those assets are funded.
Annual Balance Sheet PepsiCo
| 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
Net Debt |
30.4 B | 32.6 B | 24.1 B | 19.6 B | 23.2 B | 27.8 B | 21.1 B | 18.7 B | 18 B | 22.1 B | 22.7 B |
Long Term Debt |
36 B | 40.4 B | 29.1 B | 28.3 B | 33.8 B | 30.1 B | 29.2 B | 23.8 B | 24.3 B | 23.5 B | 20.6 B |
Long Term Debt Current |
- | 460 M | 442 M | - | - | - | - | 2.2 B | - | - | - |
Total Non Current Liabilities |
- | 56 B | 43.3 B | 41 B | 48.4 B | 41.8 B | 40.2 B | 35 B | 35.4 B | 35.3 B | 33.8 B |
Total Current Liabilities |
26.2 B | 23.4 B | 20.5 B | 22.1 B | 20.5 B | 21.1 B | 17.6 B | 18.1 B | 17.8 B | 17.1 B | 18.2 B |
Total Liabilities |
76.2 B | 79.4 B | 63.7 B | 63 B | 68.9 B | 62.9 B | 57.7 B | 53.1 B | 53.2 B | 52.3 B | 52 B |
Deferred Revenue |
- | 4.37 B | 4.36 B | 4.36 B | 3.24 B | - | 4.96 B | 5.3 B | 5.99 B | 5.06 B | - |
Retained Earnings |
65.2 B | 63.4 B | 61.9 B | 59.9 B | 52.8 B | 52.5 B | 50.5 B | 49.1 B | 46.4 B | 43.2 B | 40.3 B |
Total Assets |
92.4 B | 92.9 B | 78.5 B | 77.6 B | 79.8 B | 74.1 B | 69.7 B | 70.5 B | 77.5 B | 74.6 B | 72.9 B |
Cash and Cash Equivalents |
5.6 B | 8.18 B | 5.51 B | 8.72 B | 10.6 B | 9.16 B | 9.1 B | 6.13 B | 9.38 B | 6.3 B | 4.07 B |
Book Value |
16.2 B | 13.6 B | 14.9 B | 14.6 B | 10.9 B | 11.2 B | 11.9 B | 17.4 B | 24.3 B | 22.3 B | 20.9 B |
Total Shareholders Equity |
16.2 B | 13.6 B | 14.9 B | 14.6 B | 11 B | 11.2 B | 12.1 B | 17.6 B | 24.4 B | 22.4 B | 20.7 B |
All numbers in USD currency
Quarterly Balance Sheet PepsiCo
| 2026-Q1 | 2025-Q3 | 2025-Q2 | 2025-Q1 | 2024-Q3 | 2024-Q2 | 2024-Q1 | 2023-Q3 | 2023-Q2 | 2023-Q1 | 2022-Q4 | 2022-Q3 | 2022-Q2 | 2022-Q1 | 2021-Q4 | 2021-Q3 | 2021-Q2 | 2021-Q1 | 2020-Q4 | 2020-Q3 | 2020-Q2 | 2020-Q1 | 2019-Q4 | 2019-Q3 | 2019-Q2 | 2019-Q1 | 2018-Q4 | 2018-Q3 | 2018-Q2 | 2018-Q1 | 2017-Q4 | 2017-Q3 | 2017-Q2 | 2017-Q1 | 2016-Q4 | 2016-Q3 | 2016-Q2 | 2016-Q1 | 2015-Q4 | 2015-Q3 | 2015-Q2 | 2015-Q1 | 2014-Q4 | 2014-Q3 | 2014-Q2 | 2014-Q1 | 2013-Q4 | 2013-Q3 | 2013-Q2 | 2013-Q1 | 2012-Q4 | 2012-Q3 | 2012-Q2 | 2012-Q1 | 2011-Q4 | 2011-Q3 | 2011-Q2 | 2011-Q1 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Long Term Debt |
- | - | - | - | - | - | - | 35.8 B | - | - | - | - | 33.2 B | 34.6 B | 36 B | 37 B | 38 B | 36 B | 40.4 B | 37.9 B | 40.4 B | 40.4 B | 29.1 B | 29.6 B | 29.1 B | 29.1 B | 28.3 B | 30.6 B | 28.3 B | 28.3 B | 33.8 B | 31.5 B | 33.8 B | 33.8 B | 30.1 B | 29.3 B | 30.1 B | 30.1 B | 29.2 B | 26.3 B | 29.2 B | 29.2 B | 23.8 B | 23.5 B | 23.8 B | 23.8 B | 24.3 B | 24.3 B | 24.3 B | 24.3 B | 23.5 B | 23.7 B | 23.5 B | 22.1 B | 20.6 B | 21.8 B | 21.6 B | 20.6 B |
Total Liabilities |
89.1 B | 87 B | 86.8 B | 83.2 B | 80.9 B | 80 B | 80.8 B | 81 B | 78.1 B | 75.9 B | - | 75.3 B | 74.4 B | 74.6 B | 76.2 B | 77.3 B | 77 B | 77.2 B | 79.4 B | 79.4 B | 79.4 B | 79.4 B | 63.7 B | 63.7 B | 63.7 B | 63.7 B | 63 B | 63 B | 63 B | 63 B | 68.8 B | 68.8 B | 68.8 B | 68.8 B | 62.3 B | 62.3 B | 62.3 B | 62.3 B | 57.6 B | 57.6 B | 57.6 B | 57.6 B | 53 B | 53 B | 53 B | 53 B | 53.1 B | 53.1 B | 53.1 B | 53.1 B | 52.2 B | 52.2 B | 52.2 B | 52.2 B | 52 B | 52 B | 52 B | 52 B |
Retained Earnings |
73.2 B | 72.2 B | 71.5 B | 72.2 B | 72.6 B | 71.5 B | 70.3 B | 70.5 B | 69.1 B | 68.1 B | - | 68.9 B | 67.8 B | 67.9 B | 65.2 B | 65.3 B | 64.6 B | 63.7 B | 63.4 B | 63.4 B | 63.4 B | 63.4 B | 61.9 B | 61.9 B | 61.9 B | 61.9 B | 59.9 B | 59.9 B | 59.9 B | 59.9 B | 52.8 B | 52.8 B | 52.8 B | 52.8 B | 52.5 B | 52.5 B | 52.5 B | 52.5 B | 50.5 B | 50.5 B | 50.5 B | 50.5 B | 49.1 B | 49.1 B | 49.1 B | 49.1 B | 46.4 B | 46.4 B | 46.4 B | 46.4 B | 43.2 B | 43.2 B | 43.2 B | 43.2 B | 40.3 B | 40.3 B | 40.3 B | 40.3 B |
Total Assets |
111 B | 107 B | 105 B | 102 B | 101 B | 99.5 B | 100 B | 100 B | 95.9 B | 93 B | - | 94.5 B | 93.1 B | 93 B | 92.4 B | 93.3 B | 92.4 B | 91.2 B | 92.9 B | 92.9 B | 92.9 B | 92.9 B | 78.5 B | 78.5 B | 78.5 B | 78.5 B | 77.6 B | 77.6 B | 77.6 B | 77.6 B | 79.8 B | 79.8 B | 79.8 B | 79.8 B | 73.5 B | 73.5 B | 73.5 B | 73.5 B | 69.7 B | 69.7 B | 69.7 B | 69.7 B | 70.5 B | 70.5 B | 70.5 B | 70.5 B | 77.5 B | 77.5 B | 77.5 B | 77.5 B | 74.6 B | 74.6 B | 74.6 B | 74.6 B | 72.9 B | 72.9 B | 72.9 B | 72.9 B |
Cash and Cash Equivalents |
- | - | - | - | - | - | - | 10 B | - | - | - | 6.52 B | 5.4 B | 6.56 B | 5.6 B | 6.51 B | 5.45 B | 5.6 B | 8.18 B | 8.18 B | 8.18 B | 8.18 B | 5.51 B | 5.51 B | 5.51 B | 5.51 B | 8.72 B | 8.72 B | 8.72 B | 8.72 B | 10.6 B | 10.6 B | 10.6 B | 10.6 B | 9.16 B | 9.16 B | 9.16 B | 9.16 B | 9.1 B | 9.1 B | 9.1 B | 9.1 B | 6.13 B | 6.13 B | 6.13 B | 6.13 B | 9.38 B | 9.38 B | 9.38 B | 9.38 B | 6.3 B | 6.3 B | 6.3 B | 6.3 B | 4.07 B | 4.07 B | 4.07 B | 4.07 B |
Book Value |
21.5 B | 19.5 B | 18.6 B | 18.5 B | 19.6 B | 19.6 B | 19.2 B | 19 B | 17.8 B | 17.2 B | - | 19.1 B | 18.7 B | 18.3 B | 16.2 B | 16 B | 15.4 B | 14.1 B | 13.6 B | 13.6 B | 13.6 B | 13.6 B | 14.9 B | 14.9 B | 14.9 B | 14.9 B | 14.6 B | 14.6 B | 14.6 B | 14.6 B | 11 B | 11 B | 11 B | 11 B | 11.2 B | 11.2 B | 11.2 B | 11.2 B | 12 B | 12 B | 12 B | 12 B | 17.5 B | 17.5 B | 17.5 B | 17.5 B | 24.4 B | 24.4 B | 24.4 B | 24.4 B | 22.4 B | 22.4 B | 22.4 B | 22.4 B | 20.9 B | 20.9 B | 20.9 B | 20.9 B |
Total Shareholders Equity |
21.4 B | 19.4 B | 18.4 B | 18.4 B | 19.6 B | 19.6 B | 19.2 B | 19 B | 17.8 B | 17.2 B | - | 19.1 B | 18.7 B | 18.3 B | 16 B | 16 B | 15.4 B | 14.1 B | 13.5 B | 13.6 B | 12.6 B | 13.6 B | 14.8 B | 14.2 B | 14 B | 14.3 B | 14.5 B | 14.5 B | 14.5 B | 14.5 B | 11 B | 11 B | 11 B | 11 B | 11.2 B | 11.2 B | 11.2 B | 11.2 B | 12.1 B | 12.1 B | 12.1 B | 12.1 B | 17.6 B | 17.6 B | 17.6 B | 17.6 B | 24.4 B | 24.4 B | 24.4 B | 24.4 B | 22.4 B | 22.4 B | 22.4 B | 22.4 B | 20.7 B | 20.7 B | 20.7 B | 20.7 B |
All numbers in USD currency
Balance Sheet is a fundamental financial report of PepsiCo, providing a complete picture of the company’s financial position at a specific point in time. Unlike the income statement, which records the results of operations over a certain period, the balance sheet shows what assets the company owns, what liabilities it has to creditors, and what equity is available to the owners.
For an investor, the balance sheet is important because it allows assessing the company’s financial stability, understanding how much debt it carries, and how dependent it is on borrowed financing. It helps calculate key liquidity and leverage ratios. When analyzing, attention should be paid to the debt-to-equity ratio (Debt/Equity), the amount of cash on the balance sheet, and the ratio of current liabilities to liquid assets.
Features of balance sheet analysis- Vertical and horizontal analysis
Vertical analysis shows the structure of the balance sheet as a percentage of total assets or liabilities, while horizontal analysis shows the dynamics of changes over multiple periods. - Asset quality
It is important to evaluate not only the amount of assets but also their liquidity and realizability. - Accounting for off-balance sheet liabilities
Some liabilities may not be directly reflected in the balance sheet, which requires additional attention.
Balance sheet of other industry stocks – Beverages non alcoholic
| Issuer | Price | % 24h | Market Cap | Country | |
|---|---|---|---|---|---|
 |
Primo Water Corporation
PRMW
|
- | -1.02 % | $ 3.86 B |  Canada |
 |
NewAge
NBEV
|
- | -25.2 % | $ 4.7 M |  USA |
 |
Coca-Cola FEMSA, S.A.B. de C.V.
KOF
|
$ 109.57 | 0.13 % | $ 1.84 T |  Mexico |
 |
The Alkaline Water Company
WTER
|
- | -8.42 % | $ 2.38 M | USA |
 |
Coca-Cola European Partners plc
CCEP
|
$ 106.55 | 0.75 % | $ 48.6 B | - |
 |
Celsius Holdings
CELH
|
$ 29.56 | 1.02 % | $ 7.46 B | USA |
 |
Coca-Cola Consolidated
COKE
|
$ 188.28 | 0.51 % | $ 12.5 B | USA |
 |
National Beverage Corp.
FIZZ
|
$ 31.1 | 1.15 % | $ 2.91 B | USA |
 |
Keurig Dr Pepper
KDP
|
$ 32.55 | 0.11 % | $ 44.2 B | USA |
 |
The Coca-Cola Company
KO
|
$ 88.36 | 0.33 % | $ 380 B | USA |
 |
Monster Beverage Corporation
MNST
|
$ 43.15 | 0.11 % | $ 42.1 B | USA |
 |
Reed's
REED
|
- | - | $ 9.65 M | USA |