Pepsico
Pepsico returns on capital
Annual and trailing 12-month returns on invested capital, equity and assets.
ROIC
% · Annual / TTM
ROCE
% · Annual / TTM
ROIIC
% · Annual / TTM
ROE
% · Annual / TTM
ROA
% · Annual / TTM
ROIC − WACC
Percentage points · Scenario
Quarterly data
| Fiscal period | Ended | ROIC% | ROCE% | ROIIC% | ROE% | ROA% | ROIC − WACCPercentage points |
|---|---|---|---|---|---|---|---|
| FY 2026 Q2 | Jun 13, 2026 | 17.44% | 19.67% | 148.95% | 51.59% | 9.61% | 9.7 pp |
| FY 2026 Q1 | Mar 21, 2026 | 15.61% | 16.57% | -8.7% | 43.92% | 8.22% | 7.9 pp |
| FY 2025 Q4 | Dec 27, 2025 | 16.26% | 16.13% | -16.28% | 42.86% | 7.97% | 8.6 pp |
| FY 2025 Q3 | Sep 6, 2025 | 13.2% | 14.03% | -25.56% | 37.19% | 6.98% | 5.5 pp |
| FY 2025 Q2 | Jun 14, 2025 | 13.63% | 15.28% | -30.05% | 39.88% | 7.37% | 5.9 pp |
| FY 2025 Q1 | Mar 22, 2025 | 17.29% | 18.21% | 26.62% | 50.06% | 9.29% | 9.6 pp |
| FY 2024 Q4 | Dec 28, 2024 | 19.41% | 18.84% | 82.14% | 52.42% | 9.58% | 11.7 pp |
| FY 2024 Q3 | Sep 7, 2024 | 17.34% | 17.92% | 38.25% | 48.91% | 9.34% | 9.6 pp |
| FY 2024 Q2 | Jun 15, 2024 | 17.22% | 18.51% | 82.09% | 51.27% | 9.74% | 9.5 pp |
| FY 2024 Q1 | Mar 23, 2024 | 17.1% | 17.62% | 83.91% | 50.9% | 9.51% | 9.4 pp |
| FY 2023 Q4 | Dec 30, 2023 | 18.41% | 17.86% | -2.65% | 50.9% | 9.42% | 10.7 pp |
| FY 2023 Q3 | Sep 9, 2023 | 16.32% | 16.34% | -86.95% | 43.88% | 8.53% | 8.6 pp |
| FY 2023 Q2 | Jun 17, 2023 | 15.35% | 15.82% | -55.12% | 43.6% | 8.36% | 7.6 pp |
| FY 2023 Q1 | Mar 25, 2023 | 13.53% | 13.21% | -166.25% | 37.35% | 7.08% | 5.8 pp |
| FY 2022 Q4 | Dec 31, 2022 | 18.88% | 17.5% | 185.09% | 53.69% | 9.66% | 11.2 pp |
| FY 2022 Q3 | Sep 3, 2022 | 20.73% | 19.36% | 192.33% | 55.75% | 10.35% | 13 pp |
| FY 2022 Q2 | Jun 11, 2022 | 19.44% | 19.41% | 146.93% | 54.57% | 9.96% | 11.7 pp |
| FY 2022 Q1 | Mar 19, 2022 | 21.44% | 20.81% | 284.14% | 63.24% | 11.04% | 13.7 pp |
| FY 2021 Q4 | Dec 25, 2021 | 17.38% | 16.45% | 54.86% | 51.65% | 8.22% | 9.7 pp |
| FY 2021 Q3 | Sep 4, 2021 | 17.28% | 17.03% | 34.15% | 55.47% | 8.79% | 9.6 pp |
| FY 2021 Q2 | Jun 12, 2021 | 17.49% | 16.78% | 32.66% | 59.07% | 9.02% | 9.8 pp |
| FY 2021 Q1 | Mar 20, 2021 | — | 15.92% | — | 54.69% | 8.5% | — |
| FY 2020 Q4 | Dec 26, 2020 | 17.54% | 15.8% | -1.87% | 50.42% | 8.3% | 9.8 pp |
| FY 2020 Q3 | Sep 5, 2020 | — | 16.14% | — | 51% | 8.31% | — |
| FY 2020 Q2 | Jun 13, 2020 | — | 16.21% | — | 51.81% | 8.32% | — |
| FY 2020 Q1 | Mar 21, 2020 | — | 17.1% | — | 52.33% | 9.02% | — |
| FY 2019 Q4 | Dec 28, 2019 | 20.41% | 18.12% | — | 49.92% | 9.37% | 12.7 pp |
| FY 2019 Q3 | Sep 7, 2019 | — | 18.02% | — | 101.59% | 16.42% | — |
| FY 2019 Q2 | Jun 15, 2019 | — | 18.32% | — | 106.39% | 16.64% | — |
| FY 2019 Q1 | Mar 23, 2019 | — | 18.35% | — | 100.34% | 16% | — |
| FY 2018 Q4 | Dec 29, 2018 | — | 17.61% | — | 97.9% | 15.9% | — |
| FY 2018 Q3 | Sep 8, 2018 | — | 18.67% | — | 41.69% | 6.51% | — |
| FY 2018 Q2 | Jun 16, 2018 | — | 19.12% | — | 40.52% | 5.91% | — |
| FY 2018 Q1 | Mar 24, 2018 | — | 19.05% | — | 43.16% | 6.24% | — |
| FY 2017 Q4 | Dec 30, 2017 | 13.66% | 18.72% | -289.23% | 43.54% | 6.31% | 6 pp |
| FY 2017 Q3 | Sep 9, 2017 | — | 18.82% | — | 53.15% | 9.15% | — |
| FY 2017 Q2 | Jun 17, 2017 | — | 18.56% | — | 54.58% | 9.11% | — |
| FY 2017 Q1 | Mar 25, 2017 | — | 19.03% | — | 58.39% | 9.29% | — |
| FY 2016 Q4 | Dec 31, 2016 | 19.41% | 18.62% | 40.59% | 54.24% | 8.8% | 11.7 pp |
| FY 2016 Q3 | Sep 3, 2016 | — | 18.52% | — | 50.4% | 9.24% | — |
| FY 2016 Q2 | Jun 11, 2016 | — | 15.7% | — | 35.89% | 7.16% | — |
| FY 2016 Q1 | Mar 19, 2016 | — | 15.92% | — | 37.82% | 7.39% | — |
| FY 2015 Q4 | Dec 26, 2015 | 16.14% | 15.99% | — | 36.74% | 7.78% | 8.4 pp |
| FY 2015 Q3 | Sep 5, 2015 | — | 15.02% | — | 27.37% | 6.71% | — |
| FY 2015 Q2 | Jun 13, 2015 | — | 17.26% | — | 32.49% | 8.54% | — |
| FY 2015 Q1 | Mar 21, 2015 | — | 17.8% | — | 33.45% | 8.86% | — |
| FY 2014 Q4 | Dec 27, 2014 | 16.89% | 17.1% | — | 30.98% | 8.8% | 9.2 pp |
| FY 2014 Q3 | Sep 6, 2014 | — | 17.16% | — | 30.4% | 8.83% | — |
| FY 2014 Q2 | Jun 14, 2014 | — | 16.79% | — | 29.5% | 8.72% | — |
| FY 2014 Q1 | Mar 22, 2014 | — | 17.08% | — | 30.29% | 9% | — |
| FY 2013 Q4 | Dec 28, 2013 | 16.63% | 16.56% | 307.15% | 28.75% | 8.86% | 8.9 pp |
| FY 2013 Q3 | Sep 7, 2013 | — | 16.39% | — | 30.25% | 8.83% | — |
| FY 2013 Q2 | Jun 15, 2013 | — | 17.09% | — | 30.63% | 8.92% | — |
| FY 2013 Q1 | Mar 23, 2013 | — | 15.77% | — | 27.05% | 8.18% | — |
| FY 2012 Q4 | Dec 29, 2012 | 15.49% | 16.23% | -26.61% | 28.62% | 8.38% | 7.8 pp |
| FY 2012 Q3 | Sep 8, 2012 | — | 15.82% | — | 26.19% | 7.94% | — |
| FY 2012 Q2 | Jun 16, 2012 | — | 16.56% | — | 26.98% | 8.14% | — |
| FY 2012 Q1 | Mar 24, 2012 | — | 16.94% | — | 28.63% | 8.72% | — |
| FY 2011 Q4 | Dec 31, 2011 | 16.75% | 18.01% | 20.62% | 30.66% | 9.14% | 9 pp |
| FY 2011 Q3 | Sep 3, 2011 | — | 17.91% | — | 29.2% | 9% | — |
| FY 2011 Q2 | Jun 11, 2011 | — | 17.59% | — | 28.81% | 8.97% | — |
| FY 2011 Q1 | Mar 19, 2011 | — | 16.95% | — | 27.54% | 8.79% | — |
| FY 2010 Q4 | Dec 25, 2010 | 20.69% | 19.99% | 2.42% | 33.07% | 11.7% | 13 pp |
| FY 2010 Q3 | Sep 4, 2010 | — | 20.62% | — | 36.06% | 12.13% | — |
| FY 2010 Q2 | Jun 12, 2010 | — | — | — | — | — | — |
| FY 2010 Q1 | Mar 20, 2010 | — | — | — | — | — | — |
| FY 2009 Q4 | Dec 26, 2009 | — | — | — | — | — | — |
| FY 2009 Q3 | Sep 5, 2009 | — | — | — | — | — | — |
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.
Quarterly returns use trailing 12-month earnings and period-end balances averaged with the same fiscal quarter one year earlier. NOPAT uses the reported effective tax rate only when pretax profit is positive and the rate is between 0 and 100%. WACC starts at 7.7%, rounded from the US nonfinancial market · generic proxy benchmark in NYU Stern · January 2026. It is an editable US sector proxy applied across history, not a company estimate; foreign reporting currencies also need a currency-specific assessment.
Market prices: Yahoo Finance · PEP, USD. Latest completed close Sep 25, 2026. Price data retrieved Sep 28, 2026.
- ROIC
- NOPAT / average invested capital × 100. NOPAT = operating income × (1 − effective tax rate). Invested capital = equity including noncontrolling interests + debt − cash and equivalents. Average uses period end and one year earlier.
- ROCE
- Operating income / average (assets − current liabilities) × 100, using period end and one year earlier.
- ROIIC
- Year-over-year change in annual/TTM NOPAT / positive year-over-year change in invested capital × 100. Capital reductions and missing inputs yield unavailable values.
- ROE
- Earnings attributable to owners / average equity attributable to owners × 100, using period end and one year earlier.
- ROA
- Net income / average total assets × 100, using period end and one year earlier.
- ROIC − WACC
- ROIC less your WACC assumption, in percentage points. The same scenario rate is applied across history; it is not a reported or historical company WACC.