Common-Size Balance Sheet: Assets
Quarterly Data
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- Income Statement
- Statement of Comprehensive Income
- Balance Sheet: Liabilities and Stockholders’ Equity
- Common-Size Income Statement
- Common-Size Balance Sheet: Liabilities and Stockholders’ Equity
- DuPont Analysis: Disaggregation of ROE, ROA, and Net Profit Margin
- Current Ratio since 2005
- Price to Earnings (P/E) since 2005
- Price to Operating Profit (P/OP) since 2005
- Analysis of Debt
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PepsiCo Inc., common-size consolidated balance sheet: assets (quarterly data)
Based on: 10-K (reporting date: 2025-12-27), 10-Q (reporting date: 2025-09-06), 10-Q (reporting date: 2025-06-14), 10-Q (reporting date: 2025-03-22), 10-K (reporting date: 2024-12-28), 10-Q (reporting date: 2024-09-07), 10-Q (reporting date: 2024-06-15), 10-Q (reporting date: 2024-03-23), 10-K (reporting date: 2023-12-30), 10-Q (reporting date: 2023-09-09), 10-Q (reporting date: 2023-06-17), 10-Q (reporting date: 2023-03-25), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-03), 10-Q (reporting date: 2022-06-11), 10-Q (reporting date: 2022-03-19), 10-K (reporting date: 2021-12-25), 10-Q (reporting date: 2021-09-04), 10-Q (reporting date: 2021-06-12), 10-Q (reporting date: 2021-03-20).
The composition of assets for the analyzed entity exhibits several noteworthy trends over the observed period from March 2021 to December 2025. Current assets generally represent between 23% and 29% of total assets, while noncurrent assets consistently comprise the majority, ranging from approximately 71% to 77%. Within these broad categories, specific asset components demonstrate varying degrees of fluctuation.
- Liquidity and Current Assets
- Cash and cash equivalents initially decreased from 6.21% in March 2021 to a low of 5.37% in December 2022, before increasing significantly to 10.02% in September 2023. This was followed by a decline to 8.53% in December 2025. Short-term investments show a more consistent, albeit smaller, presence, generally fluctuating between 0.27% and 1.06% of total assets. Accounts and notes receivable remained relatively stable, averaging around 11% of total assets, with a peak of 11.95% in June 2023. Inventories also remained relatively consistent, fluctuating between 4.68% and 6.22% of total assets. Overall, current assets experienced a notable increase in September 2023, driven primarily by the increase in cash and cash equivalents, and remained elevated through the end of the period.
- Long-Term Assets
- Property, plant, and equipment net of accumulated depreciation consistently represents a substantial portion of total assets, ranging from 22.79% to 28.16%. An upward trend is observed in this category from 2022 through 2024, peaking at 28.16% in December 2024, before decreasing slightly. Intangible assets, encompassing both amortizable and indefinite-lived components, collectively represent a significant portion of the asset base, fluctuating between 31.62% and 41.78%. Goodwill and other indefinite-lived intangible assets contribute the largest share within this category, and both show a general decreasing trend over the period. Investments in noncontrolled affiliates remained relatively stable, fluctuating between 1.90% and 3.87%. Deferred income taxes show a slight decreasing trend, while other assets show an increasing trend.
- Asset Composition Shifts
- A noticeable shift in asset composition occurred between 2022 and 2023. The proportion of current assets increased, particularly due to the rise in cash and cash equivalents, while the proportion of goodwill and other indefinite-lived intangible assets decreased. This suggests a potential strategic reallocation of resources or a change in the company’s investment profile. The increase in ‘other assets’ towards the end of the period also warrants further investigation. The presence of ‘Assets held for sale’ in September and December 2021 indicates potential divestitures during that period.
In summary, the asset structure demonstrates a balance between liquid assets and long-term investments in property, plant, and equipment, and intangible assets. The observed trends suggest a dynamic asset management strategy, with adjustments made to current asset levels and a gradual shift away from intangible assets towards more tangible assets and cash holdings in recent periods.