PepsiCo (PEP) FY2021 results: revenue $79.5 billion, up 12.9% on the year
PepsiCo Inc. (PEP) reported revenue of $79.5 billion for fiscal 2021, the year ended 25 December 2021, up 12.9% on the year before. Net income was $7.6 billion, up 7.0%, and diluted earnings per share $5.49. The figures are the company's own, from the 10-K it filed with the SEC on 10 February 2022.
Revenue
$79.5 billion
+12.9% on the year
FY2014FY2021
Operating margin
14.0%
14.3% a year earlier
FY2014FY2021
Net income
$7.6 billion
+7.0% on the year
FY2014FY2021
Diluted EPS
$5.49
+7.2% on the year
FY2014FY2021
this yearthe year beforeHover a bar for its figure.
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2021
FY2020
FY2019
On the year
Last 8 years
Operating cash flow
11,616
10,613
9,649
+9.5%
Capital expenditure
4,625
4,240
4,232
+9.1%
Free cash flow
6,991
6,373
5,417
+9.7%
Free cash flow margin
8.8%
9.1%
8.1%
Cash from investing
-3,269
-11,619
-6,437
Cash from financing
-10,780
3,819
-8,489
Depreciation and amortisation
2,710
2,548
2,432
+6.4%
Share-based compensation
301
264
237
+14.0%
Buybacks
106
2,000
3,000
-94.7%
Dividends paid
5,815
5,509
5,304
+5.6%
Dividend per share
$4.25
$4.02
$3.79
+5.6%
Diluted shares, weighted
1,389m
1,392m
1,407m
-0.2%
Balance sheet
$ million
FY2021
FY2020
FY2019
On the year
Last 8 years
Shareholders' equity
16,043
13,454
14,786
+19.2%
Non-controlling interest
108
98.0
82.0
+10.2%
Short-term borrowings
n/a
n/a
2,920
Debt
40,334
44,150
31,996
-8.6%
Operating lease liabilities
1,598
1,233
1,118
+29.6%
Other liabilities
34,294
33,983
27,645
+0.9%
Total liabilities and equity
92,377
92,918
78,547
-0.6%
Fixed assets
22,407
21,369
19,305
+4.9%
Goodwill
18,381
18,757
15,501
-2.0%
Intangible assets
1,538
1,703
1,433
-9.7%
Investments
392
1,366
229
-71.3%
Cash and equivalents
5,596
8,185
5,509
-31.6%
Inventory
4,347
4,172
3,338
+4.2%
Other assets
39,716
37,366
33,232
+6.3%
Total assets
92,377
92,918
78,547
-0.6%
10-K for the year ended 25 December 2021, filed 10 February 2022: the filing.