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Pepsico

NASDAQ: PEP · USD

Pepsico debt and dilution36

Borrowings, liquidity, share count and stock-based dilution.

Total debt

USD millions

$54,814M
Sep 5, 2009 through Jun 13, 2026

Cash & equivalents

USD millions

$10,251M

Net debt

USD millions

$44,563M

Debt / equity

×

2.46×

Debt / assets

%

48.86%

Net debt / EBITDA

× · TTM

2.48×

Debt / FCF

× · TTM

5.91×

Interest coverage

× · TTM

12.73×

Current ratio

×

0.93×

Diluted shares

Million shares

1,369M shares

Basic shares

Million shares

1,366M shares

Share count growth

%

-0.36%

Share repurchases

USD millions

$297M

Quarterly data

Pepsico capital history. Each metric has its own unit. A dash means inputs are missing or the calculation is undefined.
Fiscal periodEndedTotal debtUSD millionsCash & equivalentsUSD millionsNet debtUSD millionsDebt / equity×Debt / assets%Net debt / EBITDA×Debt / FCF×Interest coverage×Current ratio×Diluted sharesMillion sharesBasic sharesMillion sharesShare count growth%Share repurchasesUSD millions
FY 2026 Q2Jun 13, 202654,81410,25144,5632.46×48.86%2.48×5.91×12.73×0.93×1,3691,366-0.36%297
FY 2026 Q1Mar 21, 202654,32810,47543,8532.52×49.1%2.8×6.14×10.47×0.9×1,3711,367-0.36%182
FY 2025 Q4Dec 27, 202549,1829,15940,0232.39×45.79%2.68×6.41×10.26×0.85×1,3731,366.75-0.29%248
FY 2025 Q3Sep 6, 202554,0498,12645,9232.77×50.72%3.39×7.96×9.69×0.91×1,3721,369-0.29%258
FY 2025 Q2Jun 14, 202553,8847,63146,2532.9×51.15%3.36×7.63×10.42×0.78×1,3731,371-0.29%311
FY 2025 Q1Mar 22, 202550,0188,26841,7502.7×49.16%2.62×6.88×13×0.83×1,3761,372-0.22%183
FY 2024 Q4Dec 28, 202444,3068,50535,8012.44×44.54%2.23×6.16×14.02×0.82×1,375.751,370.75-0.22%240
FY 2024 Q3Sep 7, 202446,3147,30839,0062.36×46.08%2.53×7.47×14.13×0.89×1,3781,373-0.22%299
FY 2024 Q2Jun 15, 202446,2276,35339,8742.36×46.44%2.57×6.57×14.59×0.83×1,3791,375-0.22%315
FY 2024 Q1Mar 23, 202447,1688,04739,1212.46×47.15%2.6×6.51×14.71×0.86×1,3801,375-0.22%146
FY 2023 Q4Dec 30, 202344,1059,71134,3942.37×43.89%2.3×5.57×14.63×0.85×1,380.751,373.75-0.15%249
FY 2023 Q3Sep 9, 202347,07410,01737,0572.48×47.1%2.65×6.78×12.71×0.88×1,3831,376-0.29%298
FY 2023 Q2Jun 17, 202345,9216,11639,8052.58×47.88%2.99×8.02×12.1×0.84×1,3841,378-0.29%293
FY 2023 Q1Mar 25, 202343,0674,77038,2972.51×46.29%3.28×8.08×9.87×0.87×1,3841,378-0.36%160
FY 2022 Q4Dec 31, 202239,0714,95434,1172.26×42.38%2.39×6.97×12.26×0.8×1,382.761,375.76-0.61%344
FY 2022 Q3Sep 3, 202240,9456,41534,5302.14×43.35%2.16×6.41×7.37×0.92×1,3871,380-0.14%457
FY 2022 Q2Jun 11, 202240,9795,40535,5742.19×44.01%2.26×6.47×7.1×0.83×1,3891,3820%506
FY 2022 Q1Mar 19, 202241,3496,56134,7882.26×44.48%2.07×5.52×7.65×0.87×1,3911,3830.22%193
FY 2021 Q4Dec 25, 202140,3345,59634,7382.5×43.66%2.5×5.77×5.99×0.83×1,391.251,384.250.27%0
FY 2021 Q3Sep 4, 202143,0576,50636,5512.69×46.17%2.59×6.44×10.68×0.95×1,3891,382-0.14%0
FY 2021 Q2Jun 12, 202143,2985,44937,8492.81×46.87%2.72×6.07×10.23×0.91×1,3881,382-0.36%0
FY 2021 Q1Mar 20, 202143,6655,66138,0043.11×47.87%2.91×6.81×9.55×0.93×1,3871,380-0.72%106
FY 2020 Q4Dec 26, 202044,1508,18535,9653.26×47.52%2.85×6.93×8.94×0.98×1,389.751,380.5-1%457
FY 2020 Q3Sep 5, 202045,3219,09436,2273.33×49.24%2.9×7.12×8.78×0.93×1,3901,384-0.93%406
FY 2020 Q2Jun 13, 202045,7288,92736,8013.63×51.08%2.99×8.36×8.65×0.97×1,3931,387-1%564
FY 2020 Q1Mar 21, 2020—11,089—————8.81×1.1×1,3961,390-1.14%573
FY 2019 Q4Dec 28, 201932,0685,50926,5592.16×40.83%2.09×5.92×9.07×0.86×1,402.51,394.5-1.13%732
FY 2019 Q3Sep 7, 2019—5,494—————7.1×0.95×1,4051,397-1.2%542
FY 2019 Q2Jun 15, 2019—3,293—————6.9×0.86×1,4091,401-1.13%786
FY 2019 Q1Mar 23, 2019—5,072—————6.88×0.94×1,4131,406-0.99%940
FY 2018 Q4Dec 29, 201832,3218,72123,6002.21×41.63%1.89×5.27×6.63×0.99×1,420.51,410.5-0.7%558
FY 2018 Q3Sep 8, 2018—11,991—————8.09×1.31×1,4241,414-0.77%458
FY 2018 Q2Jun 16, 2018—13,858—————8.43×1.24×1,4261,417-0.77%491
FY 2018 Q1Mar 24, 2018—13,443—————8.7×1.28×1,4301,420-0.56%493
FY 2017 Q4Dec 30, 201739,28110,61028,6713.58×49.22%2.23×5.59×9.13×1.51×1,433.51,420.5-0.7%536
FY 2017 Q3Sep 9, 2017—10,243—————7.46×1.35×1,4381,425-0.9%522
FY 2017 Q2Jun 17, 2017—10,282—————7.46×1.32×1,4411,428-1.04%498
FY 2017 Q1Mar 25, 2017—9,528—————7.49×1.25×1,4401,428-1.24%444
FY 2016 Q4Dec 31, 201636,9459,15827,7873.3×49.84%2.29×5.02×7.29×1.28×1,443.531,430.53-1.72%921
FY 2016 Q3Sep 3, 2016—10,256—————9.06×1.32×1,4521,438-1.98%750
FY 2016 Q2Jun 11, 2016—9,646—————7.9×1.4×1,4561,443-2.24%710
FY 2016 Q1Mar 19, 2016—8,124—————8.13×1.42×1,4591,446-2.56%619
FY 2015 Q4Dec 26, 201533,2849,09624,1882.77×47.78%2.25×4.26×8.61×1.31×1,469.251,455.5-2.67%1,801
FY 2015 Q3Sep 5, 2015—8,698—————8.69×1.2×1,4831,467-2.65%1,069
FY 2015 Q2Jun 13, 2015—7,562—————10.33×1.07×1,4911,476-2.57%1,006
FY 2015 Q1Mar 21, 2015—6,410—————10.41×1.04×1,5031,484-2.62%1,124
FY 2014 Q4Dec 27, 201428,8976,13422,7631.65×40.98%1.86×3.78×10.54×1.14×1,515.751,495.5-2.38%1,805
FY 2014 Q3Sep 6, 2014—7,282—————11.13×1.16×1,5251,507-2.27%1,008
FY 2014 Q2Jun 14, 2014—7,607—————10.99×1.28×1,5321,515-2.13%950
FY 2014 Q1Mar 22, 2014—9,839—————10.97×1.2×1,5401,524-1.3%1,249
FY 2013 Q4Dec 28, 201329,6399,37520,2641.22×38.25%1.64×4.3×10.65×1.24×1,5511,532-0.89%960
FY 2013 Q3Sep 7, 2013—9,204—————10.24×1.24×1,5611,542-0.9%1,013
FY 2013 Q2Jun 15, 2013—7,793—————10.44×1.15×1,5671,548-0.96%402
FY 2013 Q1Mar 23, 2013—6,715—————9.89×1.11×1,5631,544-1.53%626
FY 2012 Q4Dec 29, 201228,3596,29722,0621.27×38%1.87×4.92×10.14×1.1×1,563.751,545.75-1.26%891
FY 2012 Q3Sep 8, 2012—5,309—————10.36×1.19×1,5751,556-1.39%1,122
FY 2012 Q2Jun 16, 2012—3,863—————10.47×0.99×1,5811,563-1.26%1,064
FY 2012 Q1Mar 24, 2012—3,485—————11.02×1.03×1,5841,568-0.95%142
FY 2011 Q4Dec 31, 201126,7734,06722,7061.28×36.73%1.84×4.78×11.25×0.96×1,584.291,565.41-1.13%560
FY 2011 Q3Sep 3, 2011—3,083—————12.62×1.02×1,5991,578-0.63%1,183
FY 2011 Q2Jun 11, 2011—2,913—————13.1×0.99×1,6051,583-1.55%385
FY 2011 Q1Mar 19, 2011—3,662—————13.19×0.98×1,6051,5830.06%361
FY 2010 Q4Dec 25, 201025,0105,94319,0671.16×36.7%1.79×4.81×9.23×1.11×1,6051,583.251.47%560
FY 2010 Q3Sep 4, 201025,8155,57720,2381.28×38.7%1.97×4.68×13.4×1.05×1,6121,5881.93%1,110
FY 2010 Q2Jun 12, 2010—4,529—————14.44×1.15×1,6341,608—2,573
FY 2010 Q1Mar 20, 2010—3,949——————1.31×1,6061,582—735
FY 2009 Q4Dec 26, 20097,9663,9434,0230.46×19.99%0.42×1.71×20.26×1.44×1,5861,560.25—0
FY 2009 Q3Sep 5, 2009—3,254——————1.34×1,5771,558——
Sources and calculations

Financial inputs from company filings. Last checked Oct 18, 2026. A dash means missing inputs or an undefined calculation.

Period changes use the preceding fiscal quarter or year. Percentage changes divide by the absolute prior value; a zero or missing baseline has no percentage change. Percentage metrics show changes in percentage points.

The SBC option subtracts reported share-based compensation from FCF as an economic-cost scenario. Missing SBC never becomes zero.

Debt uses reported borrowings, with overlapping concepts treated as alternatives. Cash excludes restricted cash and short-term investments. Dilution compares split-normalized weighted average basic shares year over year. Share buyback spending does not by itself measure shares retired.

Market prices: Yahoo Finance · PEP, USD. Latest completed close Sep 25, 2026. Price data retrieved Sep 28, 2026.

Total debt
Reported borrowing balances. Uses an aggregate including current maturities, or current plus noncurrent debt. Adds separately disclosed short-term borrowings, with commercial paper as a fallback, unless the selected current/aggregate concept already includes them. Finance leases are included when part of the reported debt concept; undisclosed components are not estimated.
Cash & equivalents
Unrestricted reported cash and cash equivalents. Excludes short-term investments and restricted cash.
Net debt
Total debt − cash and equivalents. Negative means net cash.
Debt / equity
Total debt / equity including noncontrolling interests. Nonpositive equity yields unavailable.
Debt / assets
Total debt / total assets × 100.
Net debt / EBITDA
Period-end net debt / (TTM operating income + TTM depreciation and amortization). Negative net debt is retained.
Debt / FCF
Period-end reported debt / positive TTM free cash flow. Reflects the selected reported capex scope and SBC option.
Interest coverage
TTM operating income / positive TTM interest expense. IFRS finance costs can include more than interest.
Current ratio
Current assets / positive current liabilities.
Diluted shares
Reported weighted average diluted shares, normalized for subsequent recorded stock splits. Fourth-quarter counts use a day-weighted annual/nine-month reconstruction where possible.
Basic shares
Reported weighted average basic shares, normalized for subsequent recorded stock splits.
Share count growth
Year-over-year change in split-normalized weighted average basic shares × 100. A dilution proxy; negative means a lower share count.
Share repurchases
Reported cash payments for repurchase of common shares. This is spending, not a buyback yield.