PepsiCo, Inc. (PEP)财务
NASDAQ · Consumer Defensive · Beverages - Non-Alcoholic · 员工306,000人 · CEO Ramon Luis Laguarta
- 股价
- $137.34 +2.65%
- 市值
- $1870亿
- 企业价值
- $2280亿
- 最近财报
- Q3 '26 2026-10-08提交
- 下次财报
- 2027-02-02 EPS预期 $2.24
营收(TTM)$982亿+6.4% 对比去年同期最近4个季度;柱状图=各季度
营业利润率(TTM)15.3%+4.3 百分点 对比去年同期营业利润 $151亿
净利润(TTM)$109亿+51.0% 对比去年同期税后,含营业外收益
自由现金流(TTM)$105亿+54.3% 对比去年同期资本支出 $41亿
稀释EPS(TTM)$7.96+51.3% 对比去年同期最近4个季度之和
净现金-$407亿+3.5% 对比去年同期现金 + 短期投资 - 债务
估值与关键数据
- 市值
- $1870亿 EV $2280亿
- 营收
- $982亿 过去12个月
- 营收增速
- +6% FY2026年一致预期
- 净利润率
- 11.1% 净利润 / 营收,TTM
- P/E
- 17.2× 预期 16.4×(FY2026)
- P/S
- 1.9× 股价 / 营收,TTM
- EV / EBITDA
- 11.9× TTM
- 自由现金流
- $105亿 过去12个月
- 净利润
- $109亿 过去12个月
- 营收预期
- $993亿 FY2026年一致预期
- 盈利
- 2027-02-02 营收预期 $304亿
- 股息
- $5.81 每股,过去12个月
核心要点
根据披露数据计算,每条结论都附有其依据的数字。
- 最近财报(2026-10-08):营收超预期1.3%,EPS 超预期2.2%营收$253亿,预期$250亿(+1.3%);EPS $2.34,预期$2.29(+2.2%)。
- 营收增长平稳:同比5.6%Q3 '26营收$253亿,此前四个季度的平均值为5.8%。
- 营业利润率15.3%(TTM),较去年同期+4.3 百分点营收增长6.4%,营业利润增长47.7%。
- 资本支出占营收的4.2%(去年为5.4%)最近4个季度投入$41亿(同比-17.5%)。自由现金流$105亿,相当于净利润的96.0%。
- 股东回报$88.7亿 = 自由现金流的84.7%回购$9.87亿(去年为$9.92亿),股息$78.8亿,股权激励$3.21亿(TTM)。
- 稀释股数一年内减少0.4%Q3 '26稀释股数13.7亿,一年前为13.7亿。
- 净债务 $407亿现金 + 短期投资 $112亿,含租赁债务 $519亿;一年前净债务 $422亿。
上一季度:Q3 '26
截至2026-09-05的季度。与去年同期及财报发布前的分析师一致预期对比。
本季度与去年同期
| Q3 '26 | 去年同期 | 变化 | |
|---|---|---|---|
| 营收 | $253亿 | $239亿 | +5.6% |
| 毛利率 | 54.4% | 53.6% | +0.8 百分点 |
| 营业利润 | $42.6亿 | $35.7亿 | +19.4% |
| 营业利润率 | 16.9% | 14.9% | +1.9 百分点 |
| 净利润 | $30.5亿 | $26亿 | +17.1% |
| 稀释EPS | $2.23 | $1.90 | +17.4% |
| 经营现金流 | $55.9亿 | $44.7亿 | +24.9% |
| 资本支出 | $9.16亿 | $9.92亿 | -7.7% |
| 自由现金流 | $46.7亿 | $34.8亿 | +34.2% |
| R&D | $0 | $0 | – |
| 股权激励费用 | $7800万 | $7600万 | +2.6% |
实际 vs 一致预期
2026-10-08| 实际 | 一致预期 | 对比预期 | |
|---|---|---|---|
| 营收 | $253亿 | $250亿 | +1.3% |
| EPS(一致预期口径) | $2.34 | $2.29 | +2.2% |
来自2026-10-08发布的Q3 '26财报：营收及分析师预期口径的EPS（通常为调整后），可能与上方报表中的EPS不同。
EPS与一致预期
最近8次财报营收
收入从何而来,按业务线和地区逐季展示。
营收、营业利润与增速
季度按业务线划分的营收
堆叠,季度| 分部 | Q3 '26 | 同比 | 占比 | TTM | TTM同比 | 12个季度 |
|---|---|---|---|---|---|---|
| PepsiCo Beverages North America | $77.1亿 | +5.2% | 30.5% | $363亿 | – | |
| PepsiCo Foods North America | $65亿 | -0.3% | 25.7% | $340亿 | – | |
| Africa, Middle East and South Asia | $54.1亿 | +7.8% | 21.4% | $238亿 | – | |
| Latin America (Segment) | $30.2亿 | +13.7% | 12.0% | $141亿 | – | |
| International Beverage Franchise | $14亿 | +8.5% | 5.5% | $67亿 | – | |
| Asia Pacific, Australia and New Zealand, and China Region | $12.3亿 | +10.2% | 4.9% | $59.8亿 | – |
按地区划分的营收
占总额比例| 分部 | Q3 '26 | 同比 | 占比 | TTM | TTM同比 | 12个季度 |
|---|---|---|---|---|---|---|
| PepsiCo Beverages North America | $77.1亿 | +5.2% | 30.5% | – | – | |
| PepsiCo Foods North America | $65亿 | -0.3% | 25.7% | – | – | |
| Europe, Middle East & Africa (Segment) | $54.1亿 | +7.8% | 21.4% | – | – | |
| Latin America Foods (Segment) | $30.2亿 | +13.7% | 12.0% | – | – | |
| International Beverage Franchise | $14亿 | +8.5% | 5.5% | – | – | |
| Asia Pacific Foods (Segment) | $12.3亿 | +10.2% | 4.9% | – | – |
利润率与成本结构
每一单位营收在各层级还剩多少,成本又花在哪里。
利润率
季度成本占营收比例
季度现金流与资本配置
创造了多少现金,用在何处,又有多少回到股东手中。
经营现金流、资本支出、自由现金流
季度现金用途与经营现金流
财年最近4个季度
现金流量表- 经营现金流
- $146亿
- 资本支出
- -$41亿
- 股票回购
- -$9.87亿
- 股息
- -$78.8亿
- 收购
- -$3.68亿
- 债务净发行
- -$2.53亿
- 股权激励费用
- $3.21亿
- 自由现金流
- $105亿
- 股东回报 / FCF
- 84.7%
股数与EPS
季度,稀释资产负债表
各季度末的流动性、投资和债务。
现金、投资与债务
季度末估值与回报
当前估值倍数与公司自身过去五个财年对比;分析师目标价与评级。
估值倍数与回报
TTM与过去5个财年| 当前 | 5年均值 | 当前处于5年区间的位置 | |
|---|---|---|---|
| P/E(TTM) | 17.2× | 26.2× | 21.8× – 31.5× |
| EV / EBITDA | 11.9× | 16.9× | 14.7× – 19.0× |
| EV / 营收 | 2.3× | 3.0× | 2.5× – 3.5× |
| 股价 / FCF | 17.9× | 32.6× | 25.6× – 44.5× |
| 股价 / 净资产 | 8.4× | 12.7× | 9.6× – 15.0× |
| FCF收益率 | 5.6% | 3.2% | 2.2% – 3.9% |
| 投入资本回报率 | 13.9% | 12.8% | 11.3% – 13.9% |
| 净资产收益率 | 50.6% | 48.4% | 40.4% – 53.1% |
分析师
一致目标价 $142.38 (+3.7%)
区间 $132.00 – $165.00 · 评级 Hold
强烈买入1
买入13
持有31
卖出1
强烈卖出0
展望
分析师对未来财年的一致预期,以及按当前股价意味着什么。
一致预期
| 财年 | 营收 | 增速 | EPS | 增速 | 按当前股价的P/E | 分析师(EPS) |
|---|---|---|---|---|---|---|
| FY2026 | $993亿 | +5.7% | $8.39 | +39.9% | 16.4× | 11 |
| FY2027 | $1020亿 | +2.4% | $8.57 | +2.1% | 16.0× | 13 |
| FY2028 | $1050亿 | +3.1% | $9.05 | +5.6% | 15.2× | 7 |
| FY2029 | $1050亿 | -0.3% | $9.06 | +0.1% | 15.2× | 3 |
| FY2030 | $1070亿 | +2.3% | $9.22 | +1.8% | 14.9× | 2 |
财务报表
利润表、资产负债表和现金流量表的每一项,含12个季度和10个财年,以金额、占营收比例或增速展示。
全部披露项目
PepsiCo, Inc.在近期10-Q / 10-K文件中标记的全部305项数据,附SEC官方标签和定义,包括附注(租赁、税务、回购、员工等)。
| 项目(SEC标签) | 最近季度 | 去年同期 | 同比 | 最近财年 | 上一财年 | 同比 |
|---|---|---|---|---|---|---|
| Accounts and Financing Receivable, after Allowance for Credit Loss, Current | $136亿 | $126亿 | +7.8% | $115亿 | $103亿 | +11.4% |
| Accounts Payable and Accrued Liabilities, Current | $253亿 | $248亿 | +2.2% | $259亿 | $245亿 | +5.9% |
| Accounts Payable, Current | $117亿2025-12-27 | $110亿 | +6.4% | $117亿 | $110亿 | +6.4% |
| Accounts Receivable, Allowance for Credit Loss, Current | $2.22亿 | $2.45亿 | -9.4% | $2.3亿 | $3.56亿 | -35.4% |
| Accounts Receivable, before Allowance for Credit Loss, Current | $117亿2025-12-27 | $107亿 | +9.8% | $117亿 | $107亿 | +9.8% |
| Accrued Employee Benefits, Current | $22.3亿2025-12-27 | $22.6亿 | -1.2% | $22.3亿 | $22.6亿 | -1.2% |
| Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment | $327亿 | $303亿 | +7.9% | $310亿 | $280亿 | +10.7% |
| Accumulated Other Comprehensive (Income) Loss, Defined Benefit Plan, after Tax | $20.3亿 | $27亿 | -24.8% | $22.6亿 | $27.1亿 | -16.7% |
| Accumulated Other Comprehensive Income (Loss), Foreign Currency Translation Adjustment, Net of Tax | -$135亿 | -$138亿 | +2.2% | -$135亿 | -$152亿 | +11.3% |
| Accumulated Other Comprehensive Income (Loss), Net of Tax | -$150亿 | -$156亿 | +3.9% | -$150亿 | -$176亿 | +14.7% |
| Additional Paid in Capital, Common Stock | $45.2亿 | $43.7亿 | +3.4% | $44.5亿 | $43.9亿 | +1.5% |
| Advertising Expense | – | – | – | $34亿 | $39亿 | -12.8% |
| Amortization of Intangible Assets | – | – | – | $8300万 | $7400万 | +12.2% |
| Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | – | – | – | 800万 | 400万 | +100.0% |
| AOCI, Cash Flow Hedge, Cumulative Gain (Loss), after Tax | $1.8亿 | $1.09亿 | +65.1% | $1.26亿 | $8200万 | +53.7% |
| Asset Impairment Charges | – | – | – | $4.98亿2024-12-28 | $3.21亿 | +55.1% |
| Assets | $1120亿 | $1070亿 | +5.1% | $1070亿 | $995亿 | +8.0% |
| Assets, Current | $326亿 | $287亿 | +13.4% | $279亿 | $258亿 | +8.2% |
| Business Combination, Contingent Consideration, Asset | $0 | $0 | – | $0 | $0 | – |
| Business Combination, Contingent Consideration, Liability | $1200万 | $1.8亿 | -93.3% | $2.78亿 | $0 | – |
| Business Combination, Separately Recognized Transactions, Net Gains and Losses | – | – | – | -$4.53亿 | -$2200万 | -1,959.1% |
| Capitalized Computer Software, Amortization | – | – | – | $2.6亿 | $1.99亿 | +30.7% |
| Capitalized Computer Software, Net | $18亿2025-12-27 | $15亿 | +20.0% | $18亿 | $15亿 | +20.0% |
| Cash and Cash Equivalents, at Carrying Value | $107亿 | $81.3亿 | +31.4% | $91.6亿 | $85.1亿 | +7.7% |
| Cash Collateral for Borrowed Securities | $4.3亿2025-12-27 | $4.47亿 | -3.8% | $4.3亿 | $4.47亿 | -3.8% |
| Cash Flow Hedge Gain (Loss) to be Reclassified within Twelve Months | – | – | – | $1亿 | $4500万 | +122.2% |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents | $107亿 | $81.7亿 | +31.3% | $92亿 | $85.5亿 | +7.6% |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect | – | – | – | $6.51亿 | -$12.1亿 | +153.9% |
| Collateral Already Posted, Aggregate Fair Value | $0 | – | – | $0 | $0 | – |
| Commercial Paper | $48亿 | $30亿 | +60.0% | $13.9亿2017-12-30 | $22.6亿 | -38.6% |
| Common Stock, Capital Shares Reserved for Future Issuance | 8900万2025-12-27 | 9500万 | -6.3% | 8900万 | 9500万 | -6.3% |
| Common Stock, Dividends, Per Share, Declared | – | – | – | $5.62 | $5.33 | +5.5% |
| Common Stock, Par or Stated Value Per Share | $0.02 | $0.02 | 0.0% | $0.02 | $0.02 | 0.0% |
| Common Stock, Shares Authorized | 36亿 | 36亿 | 0.0% | 36亿 | 36亿 | 0.0% |
| Common Stock, Shares, Issued | 13.6亿 | 13.7亿 | -0.4% | 13.7亿 | 13.7亿 | -0.4% |
| Common Stock, Value, Issued | $2300万 | $2300万 | 0.0% | $2300万 | $2300万 | 0.0% |
| Comprehensive Income (Loss), Net of Tax, Attributable to Noncontrolling Interest | – | – | – | $5500万 | $4800万 | +14.6% |
| Comprehensive Income (Loss), Net of Tax, Attributable to Parent | – | – | – | $108亿 | $75亿 | +44.4% |
| Comprehensive Income (Loss), Net of Tax, Including Portion Attributable to Noncontrolling Interest | – | – | – | $109亿 | $75.5亿 | +44.2% |
| Cost of Goods and Services Sold | – | – | – | $431亿 | $417亿 | +3.2% |
| Current Federal Tax Expense (Benefit) | – | – | – | $2.99亿 | $10.3亿 | -71.1% |
| Current Foreign Tax Expense (Benefit) | – | – | – | $15.8亿 | $14.1亿 | +12.6% |
| Current Income Tax Expense (Benefit) | – | – | – | $19.2亿 | $26.9亿 | -28.6% |
| Current State and Local Tax Expense (Benefit) | – | – | – | $4200万 | $2.55亿 | -83.5% |
| Debt Instrument, Fair Value Disclosure | $470亿 | $480亿 | -2.1% | $460亿 | $400亿 | +15.0% |
| Debt Instrument, Unamortized Discount | $2.24亿2025-12-27 | $2.67亿 | -16.1% | $2.24亿 | $2.67亿 | -16.1% |
| Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax | $5.57亿 | $10.7亿 | -47.8% | $8.6亿 | $3.34亿 | +157.5% |
| Debt Securities, Held-to-maturity | $02025-09-06 | $4600万 | -100.0% | $02024-12-28 | – | – |
| Debt, Current | $68.6亿2025-12-27 | $70.8亿 | -3.1% | $68.6亿 | $70.8亿 | -3.1% |
| Deferred Advertising Costs | $4800万2025-12-27 | $5800万 | -17.2% | $4800万 | $5800万 | -17.2% |
| Deferred Federal Income Tax Expense (Benefit) | – | – | – | $1.16亿 | -$3.06亿 | +137.9% |
| Deferred Foreign Income Tax Expense (Benefit) | – | – | – | -$1.16亿 | -$1000万 | -1,060.0% |
| Deferred Income Tax Assets, Net | $43.3亿 | $43.4亿 | -0.3% | $45.4亿 | $43.6亿 | +4.1% |
| Deferred Income Tax Expense (Benefit) | – | – | – | $2500万 | -$3.74亿 | +106.7% |
| Deferred Income Tax Liabilities, Net | $41.1亿 | $34.7亿 | +18.2% | $38亿 | $34.8亿 | +9.1% |
| Deferred Income Taxes and Tax Credits | – | – | – | $7100万 | -$4200万 | +269.0% |
| Deferred State and Local Income Tax Expense (Benefit) | – | – | – | $2500万 | -$5800万 | +143.1% |
| Deferred Tax Assets, Goodwill and Intangible Assets | $20亿2025-12-27 | $16亿 | +24.8% | $20亿 | $16亿 | +24.8% |
| Deferred Tax Assets, Gross | $115亿2025-12-27 | $112亿 | +3.0% | $115亿 | $112亿 | +3.0% |
| Deferred Tax Assets, Net | $7.39亿2025-12-27 | $8.78亿 | -15.8% | $7.39亿 | $8.78亿 | -15.8% |
来源:SEC companyfacts(每份10-Q / 10-K的XBRL)。现金流量表的季度数据由10-Q标记的年初至今累计数推算。分部拆分带有维度标记,在分部章节中单独展示。
数据来源
报表、分部营收、指标、预期:Financial Modeling Prep。分部利润及全部披露项目:SEC EDGAR(XBRL)。 已读取的文件: 10-Q 2026-09-05, 10-Q 2026-06-13, 10-Q 2026-03-21, 10-K 2025-12-27, 10-Q 2025-09-06, 10-Q 2025-06-14, 10-Q 2025-03-22, 10-K 2024-12-28, 10-Q 2024-09-07
数据截至 2026-11-01