PEPSICO INC
PEP · Nasdaq · CIK 0000077476
SIC 2080
Beverages
Category
Food & Beverage
Entity
operating
Incorp.
NC
Fiscal Y/E
1226
Source: SEC EDGAR · All filings on SEC →
Investment Indicators
$149.40
-5.22 (-3.38%)
Open
$154.39
High
$154.70
Low
$149.06
Prev Close
$154.62
Volume
5,613,182
52W High
$169.96
52W Low
$122.83
50-day MA
$157.22
Quote as of: 2026-05-11
Market Cap
$213.19B
P/E
24.52
P/B
9.88
PEG
1.66
EPS
6.36
BPS
15.63
Dividend Yield
3.67%
Beta
0.39
ROE
40.38%
ROA
7.67%
D/E Ratio
4.26
Current Ratio
0.85
Gross Margin
54.15%
Operating Margin
12.24%
Net Margin
8.77%
Intrinsic Value Estimates
Multiple valuation methods, each with its own assumptions — outputs can diverge widely
Median consensus (6 methods)
$87.87B
| Method | Implied market cap | vs current |
|---|---|---|
Graham Number √(22.5 × 순이익 × 자본) | $61.51B | +247% |
Graham Formula 순이익 × (8.5 + 2 × 성장률%) | — | N/A |
Justified P/E 순이익 × 산업 평균 P/E | $123.60B | +72% |
P/B 배수 자본 × 산업 평균 P/B | $30.61B | +596% |
P/S 배수 매출 × 산업 평균 P/S | $187.85B | +13% |
DCF (Gordon) CF × (1+g) / (r − g) | $107.68B | +98% |
DDM (Gordon) D × (1+g) / (r − g) | $68.05B | +213% |
▶ Detailed analysis — formula walk-through & scenarios
Why this conclusion
Of the 7 valuation methods, 6 were applicable. Their median fair-value lands +142.6% below the current market cap → the stock trades above most formulas' estimates (overvalued). 5 methods flag overvalued, 0 flag undervalued, the rest land within fair range. Read each formula's assumptions below before treating any single number as the answer.
Graham Number
Overvalued +246.6%√(22.5 × 순이익 × 자본)
Current
$213.19B
Implied fair
$61.51B
Gap (current − fair)
+$151.68B(+246.6%)
NetIncome = $8.24B Equity = $20.41B √(22.5 × $8.24B × $20.41B) = $61.51B
- 최대 PER 15배
- 최대 PBR 1.5배
- 안정적 흑자 기업 가정 (금융·고성장 부정확)
Graham Formula
순이익 × (8.5 + 2 × 성장률%)
Not applicable: -
Justified P/E
Overvalued +72.5%순이익 × 산업 평균 P/E
Current
$213.19B
Implied fair
$123.60B
Gap (current − fair)
+$89.59B(+72.5%)
NetIncome = $8.24B Industry P/E = 15× $8.24B × 15 = $123.60B
- 산업 평균 PER 15x 가정 (사용자 정의 가능)
- 동종 업종 비교가 핵심 — 산업별 평균 P/E 사용 권장
P/B 배수
Overvalued +596.5%자본 × 산업 평균 P/B
Current
$213.19B
Implied fair
$30.61B
Gap (current − fair)
+$182.58B(+596.5%)
Equity = $20.41B Industry P/B = 1.5× $20.41B × 1.5 = $30.61B
- 산업 평균 PBR 1.5x 가정
- 은행·보험·자산집약적 산업에 특히 유효
P/S 배수
Fair +13.5%매출 × 산업 평균 P/S
Current
$213.19B
Implied fair
$187.85B
Gap (current − fair)
+$25.34B(+13.5%)
Revenue = $93.92B Industry P/S = 2× $93.92B × 2 = $187.85B
- 산업 평균 PSR 2x 가정
- 매출 기반 — 적자 기업·신생 기업에 적용 가능
- 이익률 차이 무시
DCF (Gordon)
Overvalued +98.0%CF × (1+g) / (r − g)
Current
$213.19B
Implied fair
$107.68B
Gap (current − fair)
+$105.50B(+98.0%)
FCF = $12.09B Discount r = 4.0% + 5.0% = 9.0% Growth g = -2.0% $12.09B × (1 + -2.0%) / (9.0% − -2.0%) = $107.68B
- 현금흐름 입력: FCF (잉여현금흐름)
- 할인율 9.0% (무위험 4.0% + 주식위험프리미엄 5.0%)
- 영구 성장률 -2.0% (실질 GDP 수준)
DDM (Gordon)
Overvalued +213.3%D × (1+g) / (r − g)
Current
$213.19B
Implied fair
$68.05B
Gap (current − fair)
+$145.14B(+213.3%)
Dividend D = $7.64B Discount r = 9.0% Growth g = -2.0% $7.64B × (1 + -2.0%) / (9.0% − -2.0%) = $68.05B
- 배당 입력: 실제 지급 배당
- 할인율 9.0%
- 배당 영구 성장률 -2.0%
DCF sensitivity: discount rate × terminal growth
Each cell is the (current vs FCF × (1+g) / (r − g)) discount % under the assumed growth g and discount r.
| g \ r | 7% | 8% | 9% | 10% | 11% |
|---|---|---|---|---|---|
| 1% | +4.8% | +22.2% | +39.7% | +57.2% | +74.6% |
| 2% | -13.5% | +3.8% | +21.0% | +38.3% | +55.6% |
| 3% | -31.5% | -14.4% | +2.7% | +19.9% | +37.0% |
| 4% | -49.1% | -32.2% | -15.2% | +1.8% | +18.7% |
| 5% | -66.4% | -49.6% | -32.8% | -16.0% | +0.8% |
DDM sensitivity: discount rate × dividend growth
Each cell is the discount % vs Dividend × (1+g) / (r − g) under the assumed growth g and discount r.
| g \ r | 7% | 8% | 9% | 10% | 11% |
|---|---|---|---|---|---|
| 1% | +65.8% | +93.4% | +121.1% | +148.7% | +176.4% |
| 2% | +36.8% | +64.2% | +91.5% | +118.9% | +146.3% |
| 3% | +8.4% | +35.5% | +62.6% | +89.7% | +116.8% |
| 4% | -19.5% | +7.4% | +34.2% | +61.0% | +87.9% |
| 5% | -46.8% | -20.3% | +6.3% | +32.9% | +59.5% |
All estimates rest on strong assumptions. Treat the spread, not any single number, as the signal.
Financial Statements
In USD millions (per-share figures shown directly) · Financials as of: 2026-02-03
Income Statement
| FY | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Revenue | 93,925 | 91,854 | 91,471 | 86,392 | 79,474 |
| Cost of Revenue | 43,066 | 41,744 | 41,881 | 40,576 | 37,075 |
| Gross Profit | 50,859 | 50,110 | 49,590 | 45,816 | 42,399 |
| Operating Income | 11,498 | 12,887 | 11,986 | 11,512 | 11,162 |
| Net Income | 8,240 | 9,578 | 9,074 | 8,910 | 7,618 |
| EPS (Basic) | 6.02 | 6.97 | 6.59 | 6.45 | 5.51 |
| EPS (Diluted) | 6.00 | 6.95 | 6.56 | 6.42 | 5.49 |
Balance Sheet
| FY | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Total Assets | 107,399 | 99,467 | 100,495 | 92,187 | 92,377 |
| Current Assets | 27,949 | 25,826 | 26,950 | 21,539 | 21,783 |
| Cash & Equivalents | 9,159 | 8,505 | 9,711 | 4,954 | 5,596 |
| Total Liabilities | 86,852 | 81,296 | 81,858 | 74,914 | 76,226 |
| Current Liabilities | 32,764 | 31,536 | 31,647 | 26,785 | 26,220 |
| Long-term Debt | 46,351 | 41,228 | 41,519 | 38,753 | 39,898 |
| Total Equity | 20,406 | 18,041 | 18,503 | 17,149 | 16,043 |
Cash Flow
| FY | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Operating CF | 12,087 | 12,507 | 13,442 | 10,811 | 11,616 |
| Investing CF | -6,879 | -5,472 | -5,495 | -2,430 | -3,269 |
| Financing CF | -4,979 | -7,556 | -3,009 | -8,523 | -10,780 |
| Dividends Paid | 7,638 | 7,229 | 6,682 | 6,172 | 5,815 |
📄 SEC Filings
Current Report
8-K
2026-05-08
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Current Report
8-K
2026-04-16
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Quarterly Report
FORM 10-Q
2026-04-16
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Proxy Statement
DEFINITIVE PROXY STATEMENTS
2026-03-27
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Current Report
FORM 8-K
2026-02-11
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Current Report
8-K
2026-02-03
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Annual Report
FORM 10-K
2026-02-03
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Current Report
8-K
2025-12-15
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Current Report
8-K
2025-12-08
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Current Report
8-K
2025-10-09
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Quarterly Report
FORM 10-Q
2025-10-09
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Current Report
FORM 8-K
2025-07-28
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Current Report
FORM 8-K
2025-07-23
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Current Report
8-K
2025-07-17
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Quarterly Report
FORM 10-Q
2025-07-17
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2025-07-17
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Current Report
FORM 8-K
2025-05-23
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Current Report
8-K
2025-05-09
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Current Report
8-K
2025-04-24
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FORM 10-Q
2025-04-24
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Other filings (80)
Insider Transaction
FORM 4
2026-05-08
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3
FORM 3
2026-05-08
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SCHEDULE 13G
xslSCHEDULE_13G_X02/primary_doc.xml
2026-04-29
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PX14A6G
o428261px14a6g.htm
2026-04-28
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25-NSE
xslF25X02/primary_doc.xml
2026-04-27
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PX14A6G
o472612px14a6g.htm
2026-04-08
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PX14A6G
o472612px14a6g.htm
2026-04-07
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PX14A6G
z41261px14a6g.htm
2026-04-01
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ARS
ANNUAL REPORT TO SECURITY HOLDERS
2026-03-27
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DEFA14A
DEFINITIVE ADDITIONAL PROXY SOLICITING MATERIALS
2026-03-27
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SCHEDULE 13G/A
xslSCHEDULE_13G_X02/primary_doc.xml
2026-03-27
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Insider Transaction
FORM 4
2026-03-06
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144
xsl144X01/primary_doc.xml
2026-03-04
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144
xsl144X01/primary_doc.xml
2026-03-04
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Insider Transaction
FORM 4
2026-03-04
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Insider Transaction
FORM 4
2026-03-03
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Insider Transaction
FORM 4
2026-03-03
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Insider Transaction
FORM 4
2026-03-03
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Insider Transaction
FORM 4
2026-03-03
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Insider Transaction
FORM 4
2026-03-03
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Insider Transaction
FORM 4
2026-03-03
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Insider Transaction
FORM 4
2026-03-03
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Insider Transaction
FORM 4
2026-03-03
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Insider Transaction
FORM 4
2026-03-03
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144
xsl144X01/primary_doc.xml
2026-03-02
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144
xsl144X01/primary_doc.xml
2026-03-02
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144
xsl144X01/primary_doc.xml
2026-02-25
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144
xsl144X01/primary_doc.xml
2026-02-23
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CERT
PEP CERTIFICATION - BONDS
2026-02-12
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8-A12B
FORM 8-A12B
2026-02-12
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424B2
424B2
2026-02-05
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FWP
FWP
2026-02-05
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424B2
424B2
2026-02-04
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3
FORM 3
2026-01-07
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Insider Transaction
FORM 4
2025-12-03
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Insider Transaction
FORM 4
2025-12-03
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Insider Transaction
FORM 4
2025-12-03
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Insider Transaction
FORM 4
2025-12-03
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Insider Transaction
FORM 4
2025-12-03
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Insider Transaction
FORM 4
2025-11-12
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3
FORM 3
2025-11-12
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Insider Transaction
FORM 4
2025-10-03
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Insider Transaction
FORM 4
2025-10-03
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Insider Transaction
FORM 4
2025-10-03
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Insider Transaction
FORM 4
2025-10-03
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Insider Transaction
FORM 4
2025-10-03
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Insider Transaction
FORM 4
2025-10-03
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Insider Transaction
FORM 4
2025-10-03
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Insider Transaction
FORM 4
2025-10-03
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Insider Transaction
FORM 4
2025-10-03
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Insider Transaction
FORM 4
2025-10-03
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Insider Transaction
FORM 4
2025-10-03
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Insider Transaction
FORM 4
2025-10-03
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Insider Transaction
FORM 4
2025-10-03
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Insider Transaction
FORM 4
2025-10-03
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3/A
FORM 3/A
2025-08-08
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CERT
CERT
2025-07-29
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8-A12B
8-A12B
2025-07-28
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424B2
424B2
2025-07-22
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424B2
424B2
2025-07-22
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FWP
FWP
2025-07-22
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FWP
FWP
2025-07-21
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424B2
424B2
2025-07-21
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424B2
424B2
2025-07-21
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Insider Transaction
FORM 4
2025-07-03
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11-K
11-K
2025-06-13
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SCHEDULE 13G/A
xslSCHEDULE_13G_X01/primary_doc.xml
2025-06-05
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Insider Transaction
FORM 4
2025-06-03
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Insider Transaction
FORM 4
2025-06-03
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Insider Transaction
FORM 4
2025-06-03
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Insider Transaction
FORM 4
2025-06-03
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Insider Transaction
FORM 4
2025-06-03
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Insider Transaction
FORM 4
2025-06-03
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SD
SD
2025-05-30
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3
FORM 3
2025-05-09
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PX14A6G
BOWYER RESEARCH - PX14A6G
2025-05-06
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PX14A6G
e417250px14a6g.htm
2025-04-18
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PX14A6G
o49252px14a6g.htm
2025-04-09
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PX14A6G
w41253px14a6g.htm
2025-04-01
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ARS
ANNUAL REPORT TO SECURITY HOLDERS
2025-03-28
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