Question 1

What is PepsiCo's P/FCF ratio?

Accepted Answer

PepsiCo (PEP) P/FCF ratio is 22.0× as of June 5, 2026. The ratio is calculated by dividing market capitalisation by trailing twelve-month free cash flow, using USD-normalised financials (IAS 21 exchange-rate translation for non-USD reporters).

Question 2

How is the P/FCF ratio calculated?

Accepted Answer

P/FCF = Market Capitalisation ÷ Trailing Twelve-Month (TTM) Free Cash Flow, where Free Cash Flow = Operating Cash Flow − Capital Expenditures. All inputs are sourced from audited GAAP/IFRS filings and translated to USD using period-end exchange rates so the multiple is comparable across companies and currencies.

Question 3

What is the P/FCF ratio?

Accepted Answer

The price-to-free-cash-flow (P/FCF) ratio compares a company's market capitalisation to its trailing twelve-month (TTM) free cash flow. It is calculated as market cap ÷ TTM free cash flow, where free cash flow = operating cash flow − capital expenditures. Because FCF cannot be inflated by non-cash accounting items, P/FCF is often considered a cleaner measure of "earnings-power valuation" than P/E — especially for capital-intensive businesses where depreciation diverges from real cash outflows.

Question 4

What is a good P/FCF ratio for PepsiCo?

Accepted Answer

Mature companies that consistently convert profit into cash often trade at 15–25× P/FCF; capital-intensive businesses with lumpy capex typically trade lower. Compare against sector peers and against the company's own multi-year average — single-year P/FCF can be distorted by working-capital swings. For PepsiCo specifically, the relevant sector benchmark is the current sector median of 16.8×.

Question 5

Is PepsiCo's P/FCF ratio high or low?

Accepted Answer

PepsiCo's P/FCF ratio of 22.0× is below its own 5-year average of 33.1× and above the sector median of 16.8×. That places the current reading at the 0th percentile of its 10-year history. A higher multiple usually reflects stronger expected growth, lower perceived risk, or higher returns on capital; a lower multiple reflects the opposite.

Question 6

What is PepsiCo's historical P/FCF ratio range?

Accepted Answer

In the available daily series, PepsiCo (PEP) P/FCF ratio has ranged from a low of 16.5× in 2011 to a high of 51.0× in 2023. The 5-year average is 33.1× and the 5-year median is 32.3×.

Question 7

What was PepsiCo's P/FCF ratio in 2025?

Accepted Answer

PepsiCo (PEP) P/FCF ratio at the end of 2025 was 25.6×. Annual values reflect the multiple on the last trading day of each calendar year, using the trailing twelve-month free cash flow figure available at that date.

Question 8

Why does PepsiCo's P/FCF ratio change over time?

Accepted Answer

Valuation multiples move with two inputs: the numerator (market capitalisation, which tracks the share price) and the denominator (free cash flow). Share-price changes — driven by interest rates, earnings expectations, risk appetite, and broader market sentiment — typically dominate short-term moves, while changes in the underlying fundamental drive the longer-term trend. As a result, the ratio can rise during stock-price rallies even if the business itself has not become more valuable, and fall during sell-offs even when fundamentals are improving.


2025	$196.60B	$7.67B	25.6×	-3.4×	Dec 27, 2025
2024	$208.78B	$7.19B	29.0×	-0.4×	Dec 31, 2024
2023	$233.36B	$7.92B	29.4×	-14.9×	Dec 31, 2023
2022	$248.77B	$5.60B	44.4×	+10.0×	Dec 31, 2022
2021	$240.24B	$6.99B	34.4×	+2.3×	Dec 31, 2021
2020	$204.65B	$6.37B	32.1×	-3.0×	Dec 31, 2020
2019	$190.11B	$5.42B	35.1×	+9.7×	Dec 31, 2019
2018	$155.78B	$6.13B	25.4×	+1.2×	Dec 31, 2018
2017	$170.29B	$7.03B	24.2×	+4.5×	Dec 31, 2017
2016	$149.41B	$7.58B	19.7×	+1.2×	Dec 31, 2016
2015	$144.68B	$7.82B	18.5×	+0.1×	Dec 31, 2015
2014	$140.71B	$7.65B	18.4×	+0.0×	Dec 31, 2014
2013	$126.82B	$6.89B	18.4×	+0.1×	Dec 31, 2013
2012	$105.66B	$5.76B	18.3×	-0.3×	Dec 31, 2012
2011	$104.57B	$5.61B	18.7×	+1.7×	Dec 31, 2011
2010	$103.29B	$6.09B	16.9×	-3.4×	Dec 31, 2010
2009	$94.91B	$4.67B	20.3×	+1.7×	Dec 31, 2009
2008	$84.67B	$4.55B	18.6×	-8.5×	Dec 31, 2008
2007	$122.00B	$4.50B	27.1×	+1.9×	Dec 31, 2007
2006	$101.90B	$4.04B	25.2×	+1.1×	Dec 31, 2006
2005	$98.99B	$4.12B	24.1×	+0.3×	Dec 31, 2005
2004	$86.91B	$3.67B	23.7×	-2.9×	Dec 31, 2004
2003	$79.41B	$2.98B	26.6×	+3.7×	Dec 31, 2003
2002	$73.00B	$3.19B	22.9×	-7.6×	Dec 31, 2002
2001	$87.64B	$2.88B	30.5×	—	Dec 31, 2001


Tyson Foods (TSN)	18.4×
Colgate-Palmolive (CL)	18.2×
Kenvue (KVUE)	18.1×
Hormel Foods (HRL)	17.1×
Universal Corporation (UVV)	16.5×
Marzetti (MZTI)	15.3×
Constellation Brands (STZ)	15.3×
General Mills (GIS)	14.9×
Target (TGT)	14.1×
Brown-Forman (BF-B)	13.2×
Altria Group (MO)	12.8×
Performance Food Group (PFGC)	12.7×
Kimberly-Clark (KMB)	12.4×
Dollar Tree (DLTR)	12.0×
J. M. Smucker (SJM)	11.5×
Kroger (KR)	11.2×
Conagra Brands (CAG)	10.7×
Lamb Weston (LW)	10.3×
Campbell Soup (CPB)	8.9×
Dollar General (DG)	8.7×
Coca-Cola Europacific Partners (CCEP)	8.3×
Archer-Daniels-Midland (ADM)	7.3×
Molson Coors Beverage (TAP)	7.0×
Kraft Heinz (KHC)	6.6×
Albertsons Companies (ACI)	4.4×

P/FCF Ratio for PepsiCo (PEP)

P/FCF Ratio daily chart for PepsiCo (PEP)

Historical P/FCF Ratio for PepsiCo (PEP) from 2001 to 2025

About P/FCF Ratio at PepsiCo (PEP)

PepsiCo P/FCF Ratio by Year

PepsiCo P/FCF Ratio 2025: 25.6×

PepsiCo P/FCF Ratio 2024: 29.0×

PepsiCo P/FCF Ratio 2023: 29.4×

PepsiCo P/FCF Ratio 2022: 44.4×

PepsiCo P/FCF Ratio 2021: 34.4×

Sector peers by P/FCF Ratio — chart

Sector peers by P/FCF Ratio — table

Frequently asked questions

PepsiCo (PEP) Key Financials

P/FCF Ratio daily chart for PepsiCo (PEP)

Historical P/FCF Ratio for PepsiCo (PEP) from 2001 to 2025

About P/FCF Ratio at PepsiCo (PEP)

PepsiCo P/FCF Ratio by Year

PepsiCo P/FCF Ratio 2025: 25.6×

PepsiCo P/FCF Ratio 2024: 29.0×

PepsiCo P/FCF Ratio 2023: 29.4×

PepsiCo P/FCF Ratio 2022: 44.4×

PepsiCo P/FCF Ratio 2021: 34.4×

Sector peers by P/FCF Ratio — chart

Sector peers by P/FCF Ratio — table

Frequently asked questions

+What is PepsiCo's P/FCF ratio?

+How is the P/FCF ratio calculated?

+What is the P/FCF ratio?

+What is a good P/FCF ratio for PepsiCo?

+Is PepsiCo's P/FCF ratio high or low?

+What is PepsiCo's historical P/FCF ratio range?

+What was PepsiCo's P/FCF ratio in 2025?

+Why does PepsiCo's P/FCF ratio change over time?

PepsiCo (PEP) Key Financials