Common-Size Balance Sheet: Assets
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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
Based on: 10-K (reporting date: 2025-12-27), 10-K (reporting date: 2024-12-28), 10-K (reporting date: 2023-12-30), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-25).
The composition of assets at this company exhibits several notable shifts over the five-year period. Current assets demonstrate a generally increasing trend, while the proportion of intangible assets decreases. A significant portion of the asset base remains concentrated in noncurrent assets, particularly property, plant, and equipment, and goodwill, though the relative weight of goodwill and other indefinite-lived intangibles is declining.
- Liquidity and Current Assets
- Current assets as a percentage of total assets increased from 23.58% in 2021 to 26.82% in 2023, before stabilizing around 26% in 2024 and 2025. This increase is primarily driven by growth in accounts and notes receivable, and inventories. Cash and cash equivalents experienced an initial decline from 6.06% to 5.37% between 2021 and 2022, but then rose significantly to 9.66% in 2023, subsequently decreasing to 8.53% in 2025. Prepaid expenses and other current assets remained relatively stable, albeit with a slight upward trend.
- Fixed Assets
- Property, plant, and equipment, net, consistently represents a substantial portion of total assets, increasing from 24.26% in 2021 to 28.16% in 2024, before decreasing slightly to 27.84% in 2025. This suggests ongoing investment in fixed assets. Operating lease right-of-use assets also show a consistent increase, rising from 2.19% to 3.49% over the period, indicating a growing reliance on leased assets.
- Intangible Assets
- The proportion of intangible assets decreased considerably from 40.10% in 2021 to 31.64% in 2025. This decline is most pronounced in other indefinite-lived intangible assets, which fell from 18.54% to 12.89%. Goodwill also decreased, though less dramatically, from 19.90% to 17.61%. Amortizable intangible assets remained relatively stable, representing a small percentage of total assets.
- Other Assets and Investments
- Other assets experienced a notable increase, rising from 4.85% in 2021 to 8.37% in 2025. This category includes deferred marketplace spending, which increased from 0.13% to 0.19%, and other investments, which increased from 0.30% to 2.35%. Investments in noncontrolled affiliates decreased from 2.54% to 1.90% over the same period. Deferred income taxes remained relatively consistent, fluctuating between 4.67% and 4.23%.
- Long-Term Receivables and Pension Plans
- Noncurrent notes and accounts receivable remained a small portion of total assets, with minor fluctuations. Pension plans increased from 1.36% to 1.35% over the period, showing a slight increase in the latter years.
Overall, the asset allocation demonstrates a shift away from intangible assets towards tangible assets and other investments. The increase in current assets suggests improved liquidity or a change in working capital management. The growth in property, plant, and equipment indicates continued investment in operational capacity.