PepsiCo (PEP) FY2023 results: revenue $91.5 billion, up 5.9% on the year
PepsiCo Inc. (PEP) reported revenue of $91.5 billion for fiscal 2023, the year ended 30 December 2023, up 5.9% on the year before. Net income was $9.1 billion, up 1.8%, and diluted earnings per share $6.56. The figures are the company's own, from the 10-K it filed with the SEC on 9 February 2024.
Revenue
$91.5 billion
+5.9% on the year
FY2016FY2023
Operating margin
13.1%
13.3% a year earlier
FY2016FY2023
Net income
$9.1 billion
+1.8% on the year
FY2016FY2023
Diluted EPS
$6.56
+2.2% on the year
FY2016FY2023
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
FY2023
FY2022
FY2021
On the year
Last 8 years
Operating cash flow
13,442
10,811
11,616
+24.3%
Capital expenditure
5,518
5,207
4,625
+6.0%
Free cash flow
7,924
5,604
6,991
+41.4%
Free cash flow margin
8.7%
6.5%
8.8%
Cash from investing
-5,495
-2,430
-3,269
Cash from financing
-3,009
-8,523
-10,780
Depreciation and amortisation
2,948
2,763
2,710
+6.7%
Share-based compensation
380
343
301
+10.8%
Buybacks
1,000
1,500
106
-33.3%
Dividends paid
6,682
6,172
5,815
+8.3%
Dividend per share
$4.95
$4.53
$4.25
+9.3%
Diluted shares, weighted
1,383m
1,387m
1,389m
-0.3%
Balance sheet
$ million
FY2023
FY2022
FY2021
On the year
Last 8 years
Shareholders' equity
18,503
17,149
16,043
+7.9%
Non-controlling interest
134
124
108
+8.1%
Debt
44,105
39,071
40,334
+12.9%
Operating lease liabilities
2,400
1,933
1,598
+24.2%
Other liabilities
35,353
33,910
34,294
+4.3%
Total liabilities and equity
100,495
92,187
92,377
+9.0%
Fixed assets
27,039
24,291
22,407
+11.3%
Goodwill
17,728
18,202
18,381
-2.6%
Intangible assets
1,199
1,277
1,538
-6.1%
Investments
292
394
392
-25.9%
Cash and equivalents
9,711
4,954
5,596
+96.0%
Inventory
5,334
5,222
4,347
+2.1%
Other assets
39,192
37,847
39,716
+3.6%
Total assets
100,495
92,187
92,377
+9.0%
10-K for the year ended 30 December 2023, filed 9 February 2024: the filing.