PepsiCo (PEP) FY2024 results: revenue $91.9 billion, up 0.4% on the year
PepsiCo Inc. (PEP) reported revenue of $91.9 billion for fiscal 2024, the year ended 28 December 2024, up 0.4% on the year before. Net income was $9.6 billion, up 5.6%, and diluted earnings per share $6.95. The figures are the company's own, from the 10-K it filed with the SEC on 4 February 2025.
Revenue
$91.9 billion
+0.4% on the year
FY2017FY2024
Operating margin
14.0%
13.1% a year earlier
FY2017FY2024
Net income
$9.6 billion
+5.6% on the year
FY2017FY2024
Diluted EPS
$6.95
+5.9% on the year
FY2017FY2024
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
FY2024
FY2023
FY2022
On the year
Last 8 years
Operating cash flow
12,507
13,442
10,811
-7.0%
Capital expenditure
5,318
5,518
5,207
-3.6%
Free cash flow
7,189
7,924
5,604
-9.3%
Free cash flow margin
7.8%
8.7%
6.5%
Cash from investing
-5,472
-5,495
-2,430
Cash from financing
-7,556
-3,009
-8,523
Depreciation and amortisation
3,160
2,948
2,763
+7.2%
Share-based compensation
362
380
343
-4.7%
Buybacks
1,000
1,000
1,500
0.0%
Dividends paid
7,229
6,682
6,172
+8.2%
Dividend per share
$5.33
$4.95
$4.53
+7.8%
Diluted shares, weighted
1,378m
1,383m
1,387m
-0.4%
Balance sheet
$ million
FY2024
FY2023
FY2022
On the year
Last 8 years
Shareholders' equity
18,041
18,503
17,149
-2.5%
Non-controlling interest
130
134
124
-3.0%
Debt
44,306
44,105
39,071
+0.5%
Operating lease liabilities
2,803
2,400
1,933
+16.8%
Other liabilities
34,187
35,353
33,910
-3.3%
Total liabilities and equity
99,467
100,495
92,187
-1.0%
Fixed assets
28,008
27,039
24,291
+3.6%
Goodwill
17,534
17,728
18,202
-1.1%
Intangible assets
1,102
1,199
1,277
-8.1%
Investments
761
292
394
+160.6%
Cash and equivalents
8,505
9,711
4,954
-12.4%
Inventory
5,306
5,334
5,222
-0.5%
Other assets
38,251
39,192
37,847
-2.4%
Total assets
99,467
100,495
92,187
-1.0%
10-K for the year ended 28 December 2024, filed 4 February 2025: the filing.