Analysis of Long-term (Investment) Activity Ratios
Activity ratios measure how efficiently a company performs day-to-day tasks, such us the collection of receivables and management of inventory.
Long-term Activity Ratios (Summary)
PepsiCo Inc., long-term (investment) activity ratios
Based on: 10-K (reporting date: 2023-12-30), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-25), 10-K (reporting date: 2020-12-26), 10-K (reporting date: 2019-12-28).
| Long-term activity ratio | Description | The company |
|---|---|---|
| Net fixed asset turnover | An activity ratio calculated as total revenue divided by net fixed assets. | PepsiCo Inc. net fixed asset turnover ratio improved from 2021 to 2022 but then deteriorated significantly from 2022 to 2023. |
| Net fixed asset turnover (including operating lease, right-of-use asset) | An activity ratio calculated as total revenue divided by net fixed assets (including operating lease, right-of-use asset). | PepsiCo Inc. net fixed asset turnover ratio (with operating lease, right-of-use asset) deteriorated from 2021 to 2022 and from 2022 to 2023. |
| Total asset turnover | An activity ratio calculated as total revenue divided by total assets. | PepsiCo Inc. total asset turnover ratio improved from 2021 to 2022 but then slightly deteriorated from 2022 to 2023. |
| Equity turnover | An activity ratio calculated as total revenue divided by shareholders’ equity. | PepsiCo Inc. equity turnover ratio improved from 2021 to 2022 but then deteriorated significantly from 2022 to 2023. |
Net Fixed Asset Turnover
PepsiCo Inc., net fixed asset turnover calculation, comparison to benchmarks
| Dec 30, 2023 | Dec 31, 2022 | Dec 25, 2021 | Dec 26, 2020 | Dec 28, 2019 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||
| Net revenue | 91,471) | 86,392) | 79,474) | 70,372) | 67,161) | |
| Property, plant and equipment, net | 27,039) | 24,291) | 22,407) | 21,369) | 19,305) | |
| Long-term Activity Ratio | ||||||
| Net fixed asset turnover1 | 3.38 | 3.56 | 3.55 | 3.29 | 3.48 | |
| Benchmarks | ||||||
| Net Fixed Asset Turnover, Competitors2 | ||||||
| Altria Group Inc. | 14.82 | 15.61 | 16.75 | 13.00 | 12.56 | |
| Coca-Cola Co. | 4.95 | 4.37 | 3.90 | 3.06 | 3.44 | |
| Mondelēz International Inc. | 3.72 | 3.49 | 3.32 | 2.94 | 2.96 | |
| Philip Morris International Inc. | 4.68 | 4.73 | 5.09 | 4.51 | 4.49 | |
| Net Fixed Asset Turnover, Sector | ||||||
| Food, Beverage & Tobacco | 4.22 | 4.23 | 4.19 | 3.73 | 3.90 | |
| Net Fixed Asset Turnover, Industry | ||||||
| Consumer Staples | 5.23 | 5.28 | 5.14 | 4.45 | 4.35 | |
Based on: 10-K (reporting date: 2023-12-30), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-25), 10-K (reporting date: 2020-12-26), 10-K (reporting date: 2019-12-28).
1 2023 Calculation
Net fixed asset turnover = Net revenue ÷ Property, plant and equipment, net
= 91,471 ÷ 27,039 = 3.38
2 Click competitor name to see calculations.
| Long-term activity ratio | Description | The company |
|---|---|---|
| Net fixed asset turnover | An activity ratio calculated as total revenue divided by net fixed assets. | PepsiCo Inc. net fixed asset turnover ratio improved from 2021 to 2022 but then deteriorated significantly from 2022 to 2023. |
Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset)
PepsiCo Inc., net fixed asset turnover (including operating lease, right-of-use asset) calculation, comparison to benchmarks
| Dec 30, 2023 | Dec 31, 2022 | Dec 25, 2021 | Dec 26, 2020 | Dec 28, 2019 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||
| Net revenue | 91,471) | 86,392) | 79,474) | 70,372) | 67,161) | |
| Property, plant and equipment, net | 27,039) | 24,291) | 22,407) | 21,369) | 19,305) | |
| Operating lease right-of-use assets | 2,905) | 2,373) | 2,020) | 1,670) | 1,548) | |
| Property, plant and equipment, net (including operating lease, right-of-use asset) | 29,944) | 26,664) | 24,427) | 23,039) | 20,853) | |
| Long-term Activity Ratio | ||||||
| Net fixed asset turnover (including operating lease, right-of-use asset)1 | 3.05 | 3.24 | 3.25 | 3.05 | 3.22 | |
| Benchmarks | ||||||
| Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset), Competitors2 | ||||||
| Coca-Cola Co. | 4.33 | 3.82 | 3.41 | 2.68 | 3.05 | |
| Mondelēz International Inc. | 3.47 | 3.25 | 3.10 | 2.75 | 2.78 | |
| Philip Morris International Inc. | 4.32 | 4.35 | 4.69 | 4.06 | 4.03 | |
| Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset), Sector | ||||||
| Food, Beverage & Tobacco | 3.84 | 3.85 | 3.83 | 3.42 | 3.58 | |
| Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset), Industry | ||||||
| Consumer Staples | 4.73 | 4.76 | 4.63 | 3.96 | 4.23 | |
Based on: 10-K (reporting date: 2023-12-30), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-25), 10-K (reporting date: 2020-12-26), 10-K (reporting date: 2019-12-28).
1 2023 Calculation
Net fixed asset turnover (including operating lease, right-of-use asset) = Net revenue ÷ Property, plant and equipment, net (including operating lease, right-of-use asset)
= 91,471 ÷ 29,944 = 3.05
2 Click competitor name to see calculations.
| Long-term activity ratio | Description | The company |
|---|---|---|
| Net fixed asset turnover (including operating lease, right-of-use asset) | An activity ratio calculated as total revenue divided by net fixed assets (including operating lease, right-of-use asset). | PepsiCo Inc. net fixed asset turnover ratio (with operating lease, right-of-use asset) deteriorated from 2021 to 2022 and from 2022 to 2023. |
Total Asset Turnover
PepsiCo Inc., total asset turnover calculation, comparison to benchmarks
| Dec 30, 2023 | Dec 31, 2022 | Dec 25, 2021 | Dec 26, 2020 | Dec 28, 2019 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||
| Net revenue | 91,471) | 86,392) | 79,474) | 70,372) | 67,161) | |
| Total assets | 100,495) | 92,187) | 92,377) | 92,918) | 78,547) | |
| Long-term Activity Ratio | ||||||
| Total asset turnover1 | 0.91 | 0.94 | 0.86 | 0.76 | 0.86 | |
| Benchmarks | ||||||
| Total Asset Turnover, Competitors2 | ||||||
| Altria Group Inc. | 0.63 | 0.68 | 0.66 | 0.55 | 0.51 | |
| Coca-Cola Co. | 0.47 | 0.46 | 0.41 | 0.38 | 0.43 | |
| Mondelēz International Inc. | 0.50 | 0.44 | 0.43 | 0.39 | 0.40 | |
| Philip Morris International Inc. | 0.54 | 0.51 | 0.76 | 0.64 | 0.70 | |
| Total Asset Turnover, Sector | ||||||
| Food, Beverage & Tobacco | 0.62 | 0.61 | 0.61 | 0.54 | 0.58 | |
| Total Asset Turnover, Industry | ||||||
| Consumer Staples | 1.47 | 1.43 | 1.37 | 1.28 | 1.33 | |
Based on: 10-K (reporting date: 2023-12-30), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-25), 10-K (reporting date: 2020-12-26), 10-K (reporting date: 2019-12-28).
1 2023 Calculation
Total asset turnover = Net revenue ÷ Total assets
= 91,471 ÷ 100,495 = 0.91
2 Click competitor name to see calculations.
| Long-term activity ratio | Description | The company |
|---|---|---|
| Total asset turnover | An activity ratio calculated as total revenue divided by total assets. | PepsiCo Inc. total asset turnover ratio improved from 2021 to 2022 but then slightly deteriorated from 2022 to 2023. |
Equity Turnover
PepsiCo Inc., equity turnover calculation, comparison to benchmarks
| Dec 30, 2023 | Dec 31, 2022 | Dec 25, 2021 | Dec 26, 2020 | Dec 28, 2019 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||
| Net revenue | 91,471) | 86,392) | 79,474) | 70,372) | 67,161) | |
| Total PepsiCo common shareholders’ equity | 18,503) | 17,149) | 16,043) | 13,454) | 14,786) | |
| Long-term Activity Ratio | ||||||
| Equity turnover1 | 4.94 | 5.04 | 4.95 | 5.23 | 4.54 | |
| Benchmarks | ||||||
| Equity Turnover, Competitors2 | ||||||
| Altria Group Inc. | — | — | — | 9.21 | 4.04 | |
| Coca-Cola Co. | 1.76 | 1.78 | 1.68 | 1.71 | 1.96 | |
| Mondelēz International Inc. | 1.27 | 1.17 | 1.02 | 0.96 | 0.95 | |
| Philip Morris International Inc. | — | — | — | — | — | |
| Equity Turnover, Sector | ||||||
| Food, Beverage & Tobacco | 4.01 | 3.94 | 3.67 | 3.65 | 3.33 | |
| Equity Turnover, Industry | ||||||
| Consumer Staples | 5.81 | 5.46 | 5.21 | 5.03 | 4.89 | |
Based on: 10-K (reporting date: 2023-12-30), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-25), 10-K (reporting date: 2020-12-26), 10-K (reporting date: 2019-12-28).
1 2023 Calculation
Equity turnover = Net revenue ÷ Total PepsiCo common shareholders’ equity
= 91,471 ÷ 18,503 = 4.94
2 Click competitor name to see calculations.
| Long-term activity ratio | Description | The company |
|---|---|---|
| Equity turnover | An activity ratio calculated as total revenue divided by shareholders’ equity. | PepsiCo Inc. equity turnover ratio improved from 2021 to 2022 but then deteriorated significantly from 2022 to 2023. |