Stock Analysis on Net

PepsiCo Inc. (NASDAQ:PEP)

$24.99

Analysis of Reportable Segments

Microsoft Excel

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Segment Profit Margin

PepsiCo Inc., profit margin by reportable segment

Microsoft Excel
Dec 30, 2023 Dec 31, 2022 Dec 25, 2021 Dec 26, 2020 Dec 28, 2019
Frito-Lay North America (FLNA)
Quaker Foods North America (QFNA)
PepsiCo Beverages North America (PBNA)
Latin America (LatAm)
Europe
Africa, Middle East and South Asia (AMESA)
Asia Pacific, Australia and New Zealand and China Region (APAC)

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).

Segment profitability ratio Reportable segment The company
Segment profit margin Frito-Lay North America (FLNA) Frito-Lay North America (FLNA) segment profit margin ratio deteriorated from 2021 to 2022 but then slightly improved from 2022 to 2023.
Quaker Foods North America (QFNA) Quaker Foods North America (QFNA) segment profit margin ratio deteriorated from 2021 to 2022 and from 2022 to 2023.
PepsiCo Beverages North America (PBNA) PepsiCo Beverages North America (PBNA) segment profit margin ratio improved from 2021 to 2022 but then deteriorated significantly from 2022 to 2023.
Latin America (LatAm) Latin America (LatAm) segment profit margin ratio deteriorated from 2021 to 2022 but then improved from 2022 to 2023 exceeding 2021 level.
Europe Europe segment profit margin ratio deteriorated from 2021 to 2022 but then improved from 2022 to 2023 not reaching 2021 level.
Africa, Middle East and South Asia (AMESA) Africa, Middle East and South Asia (AMESA) segment profit margin ratio deteriorated from 2021 to 2022 but then improved from 2022 to 2023 not reaching 2021 level.
Asia Pacific, Australia and New Zealand and China Region (APAC) Asia Pacific, Australia and New Zealand and China Region (APAC) segment profit margin ratio deteriorated from 2021 to 2022 but then improved from 2022 to 2023 exceeding 2021 level.

Segment Profit Margin: Frito-Lay North America (FLNA)

PepsiCo Inc.; Frito-Lay North America (FLNA); segment profit margin calculation

Microsoft Excel
Dec 30, 2023 Dec 31, 2022 Dec 25, 2021 Dec 26, 2020 Dec 28, 2019
Selected Financial Data (US$ in millions)
Operating profit (loss)
Net revenue
Segment Profitability Ratio
Segment profit margin1

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
Segment profit margin = 100 × Operating profit (loss) ÷ Net revenue
= 100 × ÷ =

Segment profitability ratio Reportable segment The company
Segment profit margin Frito-Lay North America (FLNA) Frito-Lay North America (FLNA) segment profit margin ratio deteriorated from 2021 to 2022 but then slightly improved from 2022 to 2023.

Segment Profit Margin: Quaker Foods North America (QFNA)

PepsiCo Inc.; Quaker Foods North America (QFNA); segment profit margin calculation

Microsoft Excel
Dec 30, 2023 Dec 31, 2022 Dec 25, 2021 Dec 26, 2020 Dec 28, 2019
Selected Financial Data (US$ in millions)
Operating profit (loss)
Net revenue
Segment Profitability Ratio
Segment profit margin1

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
Segment profit margin = 100 × Operating profit (loss) ÷ Net revenue
= 100 × ÷ =

Segment profitability ratio Reportable segment The company
Segment profit margin Quaker Foods North America (QFNA) Quaker Foods North America (QFNA) segment profit margin ratio deteriorated from 2021 to 2022 and from 2022 to 2023.

Segment Profit Margin: PepsiCo Beverages North America (PBNA)

PepsiCo Inc.; PepsiCo Beverages North America (PBNA); segment profit margin calculation

Microsoft Excel
Dec 30, 2023 Dec 31, 2022 Dec 25, 2021 Dec 26, 2020 Dec 28, 2019
Selected Financial Data (US$ in millions)
Operating profit (loss)
Net revenue
Segment Profitability Ratio
Segment profit margin1

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
Segment profit margin = 100 × Operating profit (loss) ÷ Net revenue
= 100 × ÷ =

Segment profitability ratio Reportable segment The company
Segment profit margin PepsiCo Beverages North America (PBNA) PepsiCo Beverages North America (PBNA) segment profit margin ratio improved from 2021 to 2022 but then deteriorated significantly from 2022 to 2023.

Segment Profit Margin: Latin America (LatAm)

PepsiCo Inc.; Latin America (LatAm); segment profit margin calculation

Microsoft Excel
Dec 30, 2023 Dec 31, 2022 Dec 25, 2021 Dec 26, 2020 Dec 28, 2019
Selected Financial Data (US$ in millions)
Operating profit (loss)
Net revenue
Segment Profitability Ratio
Segment profit margin1

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
Segment profit margin = 100 × Operating profit (loss) ÷ Net revenue
= 100 × ÷ =

Segment profitability ratio Reportable segment The company
Segment profit margin Latin America (LatAm) Latin America (LatAm) segment profit margin ratio deteriorated from 2021 to 2022 but then improved from 2022 to 2023 exceeding 2021 level.

Segment Profit Margin: Europe

PepsiCo Inc.; Europe; segment profit margin calculation

Microsoft Excel
Dec 30, 2023 Dec 31, 2022 Dec 25, 2021 Dec 26, 2020 Dec 28, 2019
Selected Financial Data (US$ in millions)
Operating profit (loss)
Net revenue
Segment Profitability Ratio
Segment profit margin1

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
Segment profit margin = 100 × Operating profit (loss) ÷ Net revenue
= 100 × ÷ =

Segment profitability ratio Reportable segment The company
Segment profit margin Europe Europe segment profit margin ratio deteriorated from 2021 to 2022 but then improved from 2022 to 2023 not reaching 2021 level.

Segment Profit Margin: Africa, Middle East and South Asia (AMESA)

PepsiCo Inc.; Africa, Middle East and South Asia (AMESA); segment profit margin calculation

Microsoft Excel
Dec 30, 2023 Dec 31, 2022 Dec 25, 2021 Dec 26, 2020 Dec 28, 2019
Selected Financial Data (US$ in millions)
Operating profit (loss)
Net revenue
Segment Profitability Ratio
Segment profit margin1

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
Segment profit margin = 100 × Operating profit (loss) ÷ Net revenue
= 100 × ÷ =

Segment profitability ratio Reportable segment The company
Segment profit margin Africa, Middle East and South Asia (AMESA) Africa, Middle East and South Asia (AMESA) segment profit margin ratio deteriorated from 2021 to 2022 but then improved from 2022 to 2023 not reaching 2021 level.

Segment Profit Margin: Asia Pacific, Australia and New Zealand and China Region (APAC)

PepsiCo Inc.; Asia Pacific, Australia and New Zealand and China Region (APAC); segment profit margin calculation

Microsoft Excel
Dec 30, 2023 Dec 31, 2022 Dec 25, 2021 Dec 26, 2020 Dec 28, 2019
Selected Financial Data (US$ in millions)
Operating profit (loss)
Net revenue
Segment Profitability Ratio
Segment profit margin1

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
Segment profit margin = 100 × Operating profit (loss) ÷ Net revenue
= 100 × ÷ =

Segment profitability ratio Reportable segment The company
Segment profit margin Asia Pacific, Australia and New Zealand and China Region (APAC) Asia Pacific, Australia and New Zealand and China Region (APAC) segment profit margin ratio deteriorated from 2021 to 2022 but then improved from 2022 to 2023 exceeding 2021 level.

Segment Return on Assets (Segment ROA)

PepsiCo Inc., ROA by reportable segment

Microsoft Excel
Dec 30, 2023 Dec 31, 2022 Dec 25, 2021 Dec 26, 2020 Dec 28, 2019
Frito-Lay North America (FLNA)
Quaker Foods North America (QFNA)
PepsiCo Beverages North America (PBNA)
Latin America (LatAm)
Europe
Africa, Middle East and South Asia (AMESA)
Asia Pacific, Australia and New Zealand and China Region (APAC)

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).

Segment profitability ratio Reportable segment The company
Segment ROA Frito-Lay North America (FLNA) Frito-Lay North America (FLNA) segment ROA deteriorated from 2021 to 2022 and from 2022 to 2023.
Quaker Foods North America (QFNA) Quaker Foods North America (QFNA) segment ROA deteriorated from 2021 to 2022 and from 2022 to 2023.
PepsiCo Beverages North America (PBNA) PepsiCo Beverages North America (PBNA) segment ROA improved from 2021 to 2022 but then deteriorated significantly from 2022 to 2023.
Latin America (LatAm) Latin America (LatAm) segment ROA improved from 2021 to 2022 and from 2022 to 2023.
Europe Europe segment ROA deteriorated from 2021 to 2022 but then improved from 2022 to 2023 not reaching 2021 level.
Africa, Middle East and South Asia (AMESA) Africa, Middle East and South Asia (AMESA) segment ROA deteriorated from 2021 to 2022 but then improved from 2022 to 2023 not reaching 2021 level.
Asia Pacific, Australia and New Zealand and China Region (APAC) Asia Pacific, Australia and New Zealand and China Region (APAC) segment ROA deteriorated from 2021 to 2022 but then improved from 2022 to 2023 exceeding 2021 level.

Segment ROA: Frito-Lay North America (FLNA)

PepsiCo Inc.; Frito-Lay North America (FLNA); segment ROA calculation

Microsoft Excel
Dec 30, 2023 Dec 31, 2022 Dec 25, 2021 Dec 26, 2020 Dec 28, 2019
Selected Financial Data (US$ in millions)
Operating profit (loss)
Total assets
Segment Profitability Ratio
Segment ROA1

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
Segment ROA = 100 × Operating profit (loss) ÷ Total assets
= 100 × ÷ =

Segment profitability ratio Reportable segment The company
Segment ROA Frito-Lay North America (FLNA) Frito-Lay North America (FLNA) segment ROA deteriorated from 2021 to 2022 and from 2022 to 2023.

Segment ROA: Quaker Foods North America (QFNA)

PepsiCo Inc.; Quaker Foods North America (QFNA); segment ROA calculation

Microsoft Excel
Dec 30, 2023 Dec 31, 2022 Dec 25, 2021 Dec 26, 2020 Dec 28, 2019
Selected Financial Data (US$ in millions)
Operating profit (loss)
Total assets
Segment Profitability Ratio
Segment ROA1

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
Segment ROA = 100 × Operating profit (loss) ÷ Total assets
= 100 × ÷ =

Segment profitability ratio Reportable segment The company
Segment ROA Quaker Foods North America (QFNA) Quaker Foods North America (QFNA) segment ROA deteriorated from 2021 to 2022 and from 2022 to 2023.

Segment ROA: PepsiCo Beverages North America (PBNA)

PepsiCo Inc.; PepsiCo Beverages North America (PBNA); segment ROA calculation

Microsoft Excel
Dec 30, 2023 Dec 31, 2022 Dec 25, 2021 Dec 26, 2020 Dec 28, 2019
Selected Financial Data (US$ in millions)
Operating profit (loss)
Total assets
Segment Profitability Ratio
Segment ROA1

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
Segment ROA = 100 × Operating profit (loss) ÷ Total assets
= 100 × ÷ =

Segment profitability ratio Reportable segment The company
Segment ROA PepsiCo Beverages North America (PBNA) PepsiCo Beverages North America (PBNA) segment ROA improved from 2021 to 2022 but then deteriorated significantly from 2022 to 2023.

Segment ROA: Latin America (LatAm)

PepsiCo Inc.; Latin America (LatAm); segment ROA calculation

Microsoft Excel
Dec 30, 2023 Dec 31, 2022 Dec 25, 2021 Dec 26, 2020 Dec 28, 2019
Selected Financial Data (US$ in millions)
Operating profit (loss)
Total assets
Segment Profitability Ratio
Segment ROA1

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
Segment ROA = 100 × Operating profit (loss) ÷ Total assets
= 100 × ÷ =

Segment profitability ratio Reportable segment The company
Segment ROA Latin America (LatAm) Latin America (LatAm) segment ROA improved from 2021 to 2022 and from 2022 to 2023.

Segment ROA: Europe

PepsiCo Inc.; Europe; segment ROA calculation

Microsoft Excel
Dec 30, 2023 Dec 31, 2022 Dec 25, 2021 Dec 26, 2020 Dec 28, 2019
Selected Financial Data (US$ in millions)
Operating profit (loss)
Total assets
Segment Profitability Ratio
Segment ROA1

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
Segment ROA = 100 × Operating profit (loss) ÷ Total assets
= 100 × ÷ =

Segment profitability ratio Reportable segment The company
Segment ROA Europe Europe segment ROA deteriorated from 2021 to 2022 but then improved from 2022 to 2023 not reaching 2021 level.

Segment ROA: Africa, Middle East and South Asia (AMESA)

PepsiCo Inc.; Africa, Middle East and South Asia (AMESA); segment ROA calculation

Microsoft Excel
Dec 30, 2023 Dec 31, 2022 Dec 25, 2021 Dec 26, 2020 Dec 28, 2019
Selected Financial Data (US$ in millions)
Operating profit (loss)
Total assets
Segment Profitability Ratio
Segment ROA1

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
Segment ROA = 100 × Operating profit (loss) ÷ Total assets
= 100 × ÷ =

Segment profitability ratio Reportable segment The company
Segment ROA Africa, Middle East and South Asia (AMESA) Africa, Middle East and South Asia (AMESA) segment ROA deteriorated from 2021 to 2022 but then improved from 2022 to 2023 not reaching 2021 level.

Segment ROA: Asia Pacific, Australia and New Zealand and China Region (APAC)

PepsiCo Inc.; Asia Pacific, Australia and New Zealand and China Region (APAC); segment ROA calculation

Microsoft Excel
Dec 30, 2023 Dec 31, 2022 Dec 25, 2021 Dec 26, 2020 Dec 28, 2019
Selected Financial Data (US$ in millions)
Operating profit (loss)
Total assets
Segment Profitability Ratio
Segment ROA1

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
Segment ROA = 100 × Operating profit (loss) ÷ Total assets
= 100 × ÷ =

Segment profitability ratio Reportable segment The company
Segment ROA Asia Pacific, Australia and New Zealand and China Region (APAC) Asia Pacific, Australia and New Zealand and China Region (APAC) segment ROA deteriorated from 2021 to 2022 but then improved from 2022 to 2023 exceeding 2021 level.

Segment Asset Turnover

PepsiCo Inc., asset turnover by reportable segment

Microsoft Excel
Dec 30, 2023 Dec 31, 2022 Dec 25, 2021 Dec 26, 2020 Dec 28, 2019
Frito-Lay North America (FLNA)
Quaker Foods North America (QFNA)
PepsiCo Beverages North America (PBNA)
Latin America (LatAm)
Europe
Africa, Middle East and South Asia (AMESA)
Asia Pacific, Australia and New Zealand and China Region (APAC)

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).

Segment activity ratio Reportable segment The company
Segment asset turnover Frito-Lay North America (FLNA) Frito-Lay North America (FLNA) segment asset turnover ratio improved from 2021 to 2022 but then slightly deteriorated from 2022 to 2023 not reaching 2021 level.
Quaker Foods North America (QFNA) Quaker Foods North America (QFNA) segment asset turnover ratio improved from 2021 to 2022 and from 2022 to 2023.
PepsiCo Beverages North America (PBNA) PepsiCo Beverages North America (PBNA) segment asset turnover ratio deteriorated from 2021 to 2022 but then improved from 2022 to 2023 not reaching 2021 level.
Latin America (LatAm) Latin America (LatAm) segment asset turnover ratio improved from 2021 to 2022 and from 2022 to 2023.
Europe Europe segment asset turnover ratio improved from 2021 to 2022 and from 2022 to 2023.
Africa, Middle East and South Asia (AMESA) Africa, Middle East and South Asia (AMESA) segment asset turnover ratio improved from 2021 to 2022 but then deteriorated significantly from 2022 to 2023.
Asia Pacific, Australia and New Zealand and China Region (APAC) Asia Pacific, Australia and New Zealand and China Region (APAC) segment asset turnover ratio improved from 2021 to 2022 but then slightly deteriorated from 2022 to 2023.

Segment Asset Turnover: Frito-Lay North America (FLNA)

PepsiCo Inc.; Frito-Lay North America (FLNA); segment asset turnover calculation

Microsoft Excel
Dec 30, 2023 Dec 31, 2022 Dec 25, 2021 Dec 26, 2020 Dec 28, 2019
Selected Financial Data (US$ in millions)
Net revenue
Total assets
Segment Activity Ratio
Segment asset turnover1

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
Segment asset turnover = Net revenue ÷ Total assets
= ÷ =

Segment activity ratio Reportable segment The company
Segment asset turnover Frito-Lay North America (FLNA) Frito-Lay North America (FLNA) segment asset turnover ratio improved from 2021 to 2022 but then slightly deteriorated from 2022 to 2023 not reaching 2021 level.

Segment Asset Turnover: Quaker Foods North America (QFNA)

PepsiCo Inc.; Quaker Foods North America (QFNA); segment asset turnover calculation

Microsoft Excel
Dec 30, 2023 Dec 31, 2022 Dec 25, 2021 Dec 26, 2020 Dec 28, 2019
Selected Financial Data (US$ in millions)
Net revenue
Total assets
Segment Activity Ratio
Segment asset turnover1

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
Segment asset turnover = Net revenue ÷ Total assets
= ÷ =

Segment activity ratio Reportable segment The company
Segment asset turnover Quaker Foods North America (QFNA) Quaker Foods North America (QFNA) segment asset turnover ratio improved from 2021 to 2022 and from 2022 to 2023.

Segment Asset Turnover: PepsiCo Beverages North America (PBNA)

PepsiCo Inc.; PepsiCo Beverages North America (PBNA); segment asset turnover calculation

Microsoft Excel
Dec 30, 2023 Dec 31, 2022 Dec 25, 2021 Dec 26, 2020 Dec 28, 2019
Selected Financial Data (US$ in millions)
Net revenue
Total assets
Segment Activity Ratio
Segment asset turnover1

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
Segment asset turnover = Net revenue ÷ Total assets
= ÷ =

Segment activity ratio Reportable segment The company
Segment asset turnover PepsiCo Beverages North America (PBNA) PepsiCo Beverages North America (PBNA) segment asset turnover ratio deteriorated from 2021 to 2022 but then improved from 2022 to 2023 not reaching 2021 level.

Segment Asset Turnover: Latin America (LatAm)

PepsiCo Inc.; Latin America (LatAm); segment asset turnover calculation

Microsoft Excel
Dec 30, 2023 Dec 31, 2022 Dec 25, 2021 Dec 26, 2020 Dec 28, 2019
Selected Financial Data (US$ in millions)
Net revenue
Total assets
Segment Activity Ratio
Segment asset turnover1

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
Segment asset turnover = Net revenue ÷ Total assets
= ÷ =

Segment activity ratio Reportable segment The company
Segment asset turnover Latin America (LatAm) Latin America (LatAm) segment asset turnover ratio improved from 2021 to 2022 and from 2022 to 2023.

Segment Asset Turnover: Europe

PepsiCo Inc.; Europe; segment asset turnover calculation

Microsoft Excel
Dec 30, 2023 Dec 31, 2022 Dec 25, 2021 Dec 26, 2020 Dec 28, 2019
Selected Financial Data (US$ in millions)
Net revenue
Total assets
Segment Activity Ratio
Segment asset turnover1

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
Segment asset turnover = Net revenue ÷ Total assets
= ÷ =

Segment activity ratio Reportable segment The company
Segment asset turnover Europe Europe segment asset turnover ratio improved from 2021 to 2022 and from 2022 to 2023.

Segment Asset Turnover: Africa, Middle East and South Asia (AMESA)

PepsiCo Inc.; Africa, Middle East and South Asia (AMESA); segment asset turnover calculation

Microsoft Excel
Dec 30, 2023 Dec 31, 2022 Dec 25, 2021 Dec 26, 2020 Dec 28, 2019
Selected Financial Data (US$ in millions)
Net revenue
Total assets
Segment Activity Ratio
Segment asset turnover1

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
Segment asset turnover = Net revenue ÷ Total assets
= ÷ =

Segment activity ratio Reportable segment The company
Segment asset turnover Africa, Middle East and South Asia (AMESA) Africa, Middle East and South Asia (AMESA) segment asset turnover ratio improved from 2021 to 2022 but then deteriorated significantly from 2022 to 2023.

Segment Asset Turnover: Asia Pacific, Australia and New Zealand and China Region (APAC)

PepsiCo Inc.; Asia Pacific, Australia and New Zealand and China Region (APAC); segment asset turnover calculation

Microsoft Excel
Dec 30, 2023 Dec 31, 2022 Dec 25, 2021 Dec 26, 2020 Dec 28, 2019
Selected Financial Data (US$ in millions)
Net revenue
Total assets
Segment Activity Ratio
Segment asset turnover1

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
Segment asset turnover = Net revenue ÷ Total assets
= ÷ =

Segment activity ratio Reportable segment The company
Segment asset turnover Asia Pacific, Australia and New Zealand and China Region (APAC) Asia Pacific, Australia and New Zealand and China Region (APAC) segment asset turnover ratio improved from 2021 to 2022 but then slightly deteriorated from 2022 to 2023.

Segment Capital Expenditures to Depreciation

PepsiCo Inc., capital expenditures to depreciation by reportable segment

Microsoft Excel
Dec 30, 2023 Dec 31, 2022 Dec 25, 2021 Dec 26, 2020 Dec 28, 2019
Frito-Lay North America (FLNA)
Quaker Foods North America (QFNA)
PepsiCo Beverages North America (PBNA)
Latin America (LatAm)
Europe
Africa, Middle East and South Asia (AMESA)
Asia Pacific, Australia and New Zealand and China Region (APAC)

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).

Segment financial ratio Reportable segment The company
Segment capital expenditures to depreciation Frito-Lay North America (FLNA) Frito-Lay North America (FLNA) segment capital expenditures to depreciation ratio deteriorated from 2021 to 2022 and from 2022 to 2023.
Quaker Foods North America (QFNA) Quaker Foods North America (QFNA) segment capital expenditures to depreciation ratio deteriorated from 2021 to 2022 but then improved from 2022 to 2023 exceeding 2021 level.
PepsiCo Beverages North America (PBNA) PepsiCo Beverages North America (PBNA) segment capital expenditures to depreciation ratio improved from 2021 to 2022 but then slightly deteriorated from 2022 to 2023.
Latin America (LatAm) Latin America (LatAm) segment capital expenditures to depreciation ratio improved from 2021 to 2022 and from 2022 to 2023.
Europe Europe segment capital expenditures to depreciation ratio deteriorated from 2021 to 2022 and from 2022 to 2023.
Africa, Middle East and South Asia (AMESA) Africa, Middle East and South Asia (AMESA) segment capital expenditures to depreciation ratio deteriorated from 2021 to 2022 but then improved from 2022 to 2023 exceeding 2021 level.
Asia Pacific, Australia and New Zealand and China Region (APAC) Asia Pacific, Australia and New Zealand and China Region (APAC) segment capital expenditures to depreciation ratio improved from 2021 to 2022 and from 2022 to 2023.

Segment Capital Expenditures to Depreciation: Frito-Lay North America (FLNA)

PepsiCo Inc.; Frito-Lay North America (FLNA); segment capital expenditures to depreciation calculation

Microsoft Excel
Dec 30, 2023 Dec 31, 2022 Dec 25, 2021 Dec 26, 2020 Dec 28, 2019
Selected Financial Data (US$ in millions)
Capital spending
Depreciation and other amortization
Segment Financial Ratio
Segment capital expenditures to depreciation1

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
Segment capital expenditures to depreciation = Capital spending ÷ Depreciation and other amortization
= ÷ =

Segment financial ratio Reportable segment The company
Segment capital expenditures to depreciation Frito-Lay North America (FLNA) Frito-Lay North America (FLNA) segment capital expenditures to depreciation ratio deteriorated from 2021 to 2022 and from 2022 to 2023.

Segment Capital Expenditures to Depreciation: Quaker Foods North America (QFNA)

PepsiCo Inc.; Quaker Foods North America (QFNA); segment capital expenditures to depreciation calculation

Microsoft Excel
Dec 30, 2023 Dec 31, 2022 Dec 25, 2021 Dec 26, 2020 Dec 28, 2019
Selected Financial Data (US$ in millions)
Capital spending
Depreciation and other amortization
Segment Financial Ratio
Segment capital expenditures to depreciation1

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
Segment capital expenditures to depreciation = Capital spending ÷ Depreciation and other amortization
= ÷ =

Segment financial ratio Reportable segment The company
Segment capital expenditures to depreciation Quaker Foods North America (QFNA) Quaker Foods North America (QFNA) segment capital expenditures to depreciation ratio deteriorated from 2021 to 2022 but then improved from 2022 to 2023 exceeding 2021 level.

Segment Capital Expenditures to Depreciation: PepsiCo Beverages North America (PBNA)

PepsiCo Inc.; PepsiCo Beverages North America (PBNA); segment capital expenditures to depreciation calculation

Microsoft Excel
Dec 30, 2023 Dec 31, 2022 Dec 25, 2021 Dec 26, 2020 Dec 28, 2019
Selected Financial Data (US$ in millions)
Capital spending
Depreciation and other amortization
Segment Financial Ratio
Segment capital expenditures to depreciation1

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
Segment capital expenditures to depreciation = Capital spending ÷ Depreciation and other amortization
= ÷ =

Segment financial ratio Reportable segment The company
Segment capital expenditures to depreciation PepsiCo Beverages North America (PBNA) PepsiCo Beverages North America (PBNA) segment capital expenditures to depreciation ratio improved from 2021 to 2022 but then slightly deteriorated from 2022 to 2023.

Segment Capital Expenditures to Depreciation: Latin America (LatAm)

PepsiCo Inc.; Latin America (LatAm); segment capital expenditures to depreciation calculation

Microsoft Excel
Dec 30, 2023 Dec 31, 2022 Dec 25, 2021 Dec 26, 2020 Dec 28, 2019
Selected Financial Data (US$ in millions)
Capital spending
Depreciation and other amortization
Segment Financial Ratio
Segment capital expenditures to depreciation1

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
Segment capital expenditures to depreciation = Capital spending ÷ Depreciation and other amortization
= ÷ =

Segment financial ratio Reportable segment The company
Segment capital expenditures to depreciation Latin America (LatAm) Latin America (LatAm) segment capital expenditures to depreciation ratio improved from 2021 to 2022 and from 2022 to 2023.

Segment Capital Expenditures to Depreciation: Europe

PepsiCo Inc.; Europe; segment capital expenditures to depreciation calculation

Microsoft Excel
Dec 30, 2023 Dec 31, 2022 Dec 25, 2021 Dec 26, 2020 Dec 28, 2019
Selected Financial Data (US$ in millions)
Capital spending
Depreciation and other amortization
Segment Financial Ratio
Segment capital expenditures to depreciation1

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
Segment capital expenditures to depreciation = Capital spending ÷ Depreciation and other amortization
= ÷ =

Segment financial ratio Reportable segment The company
Segment capital expenditures to depreciation Europe Europe segment capital expenditures to depreciation ratio deteriorated from 2021 to 2022 and from 2022 to 2023.

Segment Capital Expenditures to Depreciation: Africa, Middle East and South Asia (AMESA)

PepsiCo Inc.; Africa, Middle East and South Asia (AMESA); segment capital expenditures to depreciation calculation

Microsoft Excel
Dec 30, 2023 Dec 31, 2022 Dec 25, 2021 Dec 26, 2020 Dec 28, 2019
Selected Financial Data (US$ in millions)
Capital spending
Depreciation and other amortization
Segment Financial Ratio
Segment capital expenditures to depreciation1

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
Segment capital expenditures to depreciation = Capital spending ÷ Depreciation and other amortization
= ÷ =

Segment financial ratio Reportable segment The company
Segment capital expenditures to depreciation Africa, Middle East and South Asia (AMESA) Africa, Middle East and South Asia (AMESA) segment capital expenditures to depreciation ratio deteriorated from 2021 to 2022 but then improved from 2022 to 2023 exceeding 2021 level.

Segment Capital Expenditures to Depreciation: Asia Pacific, Australia and New Zealand and China Region (APAC)

PepsiCo Inc.; Asia Pacific, Australia and New Zealand and China Region (APAC); segment capital expenditures to depreciation calculation

Microsoft Excel
Dec 30, 2023 Dec 31, 2022 Dec 25, 2021 Dec 26, 2020 Dec 28, 2019
Selected Financial Data (US$ in millions)
Capital spending
Depreciation and other amortization
Segment Financial Ratio
Segment capital expenditures to depreciation1

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
Segment capital expenditures to depreciation = Capital spending ÷ Depreciation and other amortization
= ÷ =

Segment financial ratio Reportable segment The company
Segment capital expenditures to depreciation Asia Pacific, Australia and New Zealand and China Region (APAC) Asia Pacific, Australia and New Zealand and China Region (APAC) segment capital expenditures to depreciation ratio improved from 2021 to 2022 and from 2022 to 2023.

Net revenue

PepsiCo Inc., net revenue by reportable segment

US$ in millions

Microsoft Excel
Dec 30, 2023 Dec 31, 2022 Dec 25, 2021 Dec 26, 2020 Dec 28, 2019
Frito-Lay North America (FLNA)
Quaker Foods North America (QFNA)
PepsiCo Beverages North America (PBNA)
Latin America (LatAm)
Europe
Africa, Middle East and South Asia (AMESA)
Asia Pacific, Australia and New Zealand and China Region (APAC)
Total division
Total

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).


Operating profit (loss)

PepsiCo Inc., operating profit (loss) by reportable segment

US$ in millions

Microsoft Excel
Dec 30, 2023 Dec 31, 2022 Dec 25, 2021 Dec 26, 2020 Dec 28, 2019
Frito-Lay North America (FLNA)
Quaker Foods North America (QFNA)
PepsiCo Beverages North America (PBNA)
Latin America (LatAm)
Europe
Africa, Middle East and South Asia (AMESA)
Asia Pacific, Australia and New Zealand and China Region (APAC)
Total division
Corporate
Total

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).


Total assets

PepsiCo Inc., total assets by reportable segment

US$ in millions

Microsoft Excel
Dec 30, 2023 Dec 31, 2022 Dec 25, 2021 Dec 26, 2020 Dec 28, 2019
Frito-Lay North America (FLNA)
Quaker Foods North America (QFNA)
PepsiCo Beverages North America (PBNA)
Latin America (LatAm)
Europe
Africa, Middle East and South Asia (AMESA)
Asia Pacific, Australia and New Zealand and China Region (APAC)
Total division
Corporate
Total

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).


Capital spending

PepsiCo Inc., capital spending by reportable segment

US$ in millions

Microsoft Excel
Dec 30, 2023 Dec 31, 2022 Dec 25, 2021 Dec 26, 2020 Dec 28, 2019
Frito-Lay North America (FLNA)
Quaker Foods North America (QFNA)
PepsiCo Beverages North America (PBNA)
Latin America (LatAm)
Europe
Africa, Middle East and South Asia (AMESA)
Asia Pacific, Australia and New Zealand and China Region (APAC)
Total division
Corporate
Total

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).


Depreciation and other amortization

PepsiCo Inc., depreciation and other amortization by reportable segment

US$ in millions

Microsoft Excel
Dec 30, 2023 Dec 31, 2022 Dec 25, 2021 Dec 26, 2020 Dec 28, 2019
Frito-Lay North America (FLNA)
Quaker Foods North America (QFNA)
PepsiCo Beverages North America (PBNA)
Latin America (LatAm)
Europe
Africa, Middle East and South Asia (AMESA)
Asia Pacific, Australia and New Zealand and China Region (APAC)
Total division
Corporate
Total

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).