Question 1

What is PepsiCo's P/B ratio?

Accepted Answer

PepsiCo (PEP) P/B ratio is 9.1× as of June 5, 2026. The ratio is calculated by dividing market capitalisation by book value of equity, using USD-normalised financials (IAS 21 exchange-rate translation for non-USD reporters).

Question 2

How is the P/B ratio calculated?

Accepted Answer

P/B = Market Capitalisation ÷ Book Value of Equity (most recent quarterly shareholders' equity), or equivalently Share Price ÷ Book Value Per Share. 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/B ratio?

Accepted Answer

The price-to-book (P/B) ratio compares a company's market capitalisation to its book value of equity (total shareholders' equity) on the most recent quarterly balance sheet. It is calculated as market cap ÷ book value of equity (equivalent to share price ÷ book value per share). A P/B below 1× implies the market values the business below its accounting net worth; values well above 1× reflect intangible assets, brand value, or a high return on equity.

Question 4

What is a good P/B ratio for PepsiCo?

Accepted Answer

A "good" P/B depends on the business model. Banks, insurers, and other capital-heavy financials typically trade near 1×; asset-light technology and consumer-brand companies can sustainably trade at 5×+ because much of their value is intangible. P/B is most informative when paired with return on equity (ROE). For PepsiCo specifically, the relevant sector benchmark is the current sector median of 3.4×.

Question 5

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

Accepted Answer

PepsiCo's P/B ratio of 9.1× is below its own 5-year average of 12.3× and above the sector median of 3.4×. 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/B ratio range?

Accepted Answer

In the available daily series, PepsiCo (PEP) P/B ratio has ranged from a low of 4.2× in 2011 to a high of 15.9× in 2023. The 5-year average is 12.3× and the 5-year median is 12.4×.

Question 7

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

Accepted Answer

PepsiCo (PEP) P/B ratio at the end of 2025 was 9.6×. Annual values reflect the multiple on the last trading day of each calendar year, using the trailing twelve-month book value figure available at that date.

Question 8

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

Accepted Answer

Valuation multiples move with two inputs: the numerator (market capitalisation, which tracks the share price) and the denominator (book value). 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	$20.41B	9.6×	-1.9×	Dec 27, 2025
2024	$208.78B	$18.04B	11.6×	-1.0×	Dec 31, 2024
2023	$233.36B	$18.50B	12.6×	-1.9×	Dec 31, 2023
2022	$248.77B	$17.15B	14.5×	-0.5×	Dec 31, 2022
2021	$240.24B	$16.04B	15.0×	-0.2×	Dec 31, 2021
2020	$204.65B	$13.45B	15.2×	+2.4×	Dec 31, 2020
2019	$190.11B	$14.79B	12.9×	+2.1×	Dec 31, 2019
2018	$155.78B	$14.52B	10.7×	-4.9×	Dec 31, 2018
2017	$170.29B	$10.89B	15.6×	+2.2×	Dec 31, 2017
2016	$149.41B	$11.10B	13.5×	+1.3×	Dec 31, 2016
2015	$144.68B	$11.92B	12.1×	+4.1×	Dec 31, 2015
2014	$140.71B	$17.44B	8.1×	+2.8×	Dec 31, 2014
2013	$126.82B	$24.28B	5.2×	+0.5×	Dec 31, 2013
2012	$105.66B	$22.29B	4.7×	-0.3×	Dec 31, 2012
2011	$104.57B	$20.59B	5.1×	+0.2×	Dec 31, 2011
2010	$103.29B	$21.16B	4.9×	-0.8×	Dec 31, 2010
2009	$94.91B	$16.80B	5.6×	-1.3×	Dec 31, 2009
2008	$84.67B	$12.11B	7.0×	-0.1×	Dec 31, 2008
2007	$122.00B	$17.23B	7.1×	+0.5×	Dec 31, 2007
2006	$101.90B	$15.45B	6.6×	-0.3×	Dec 31, 2006
2005	$98.99B	$14.32B	6.9×	+0.5×	Dec 31, 2005
2004	$86.91B	$13.57B	6.4×	-0.3×	Dec 31, 2004
2003	$79.41B	$11.90B	6.7×	-1.2×	Dec 31, 2003
2002	$73.00B	$9.30B	7.9×	-2.3×	Dec 31, 2002
2001	$87.64B	$8.65B	10.1×	—	Dec 31, 2001


Coca-Cola Europacific Partners (CCEP)	4.4×
Marzetti (MZTI)	3.6×
Lamb Weston (LW)	3.6×
Target (TGT)	3.6×
Constellation Brands (STZ)	3.4×
Tootsie Roll Industries (TR)	3.4×
Kenvue (KVUE)	3.1×
Brown-Forman (BF-B)	2.9×
Mondelez International (MDLZ)	2.9×
Dollar General (DG)	2.9×
Performance Food Group (PFGC)	2.7×
McCormick & Company (MKC)	2.7×
General Mills (GIS)	2.6×
J. M. Smucker (SJM)	2.1×
Campbell Soup (CPB)	2.0×
Andersons (ANDE)	1.9×
Archer-Daniels-Midland (ADM)	1.5×
Bunge Global S.A. (BG)	1.5×
Hormel Foods (HRL)	1.5×
Keurig Dr Pepper (KDP)	1.4×
Tyson Foods (TSN)	1.2×
Conagra Brands (CAG)	1.1×
Universal Corporation (UVV)	0.9×
Molson Coors Beverage (TAP)	0.8×
Kraft Heinz (KHC)	0.6×

P/B Ratio for PepsiCo (PEP)

P/B Ratio daily chart for PepsiCo (PEP)

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

About P/B Ratio at PepsiCo (PEP)

PepsiCo P/B Ratio by Year

PepsiCo P/B Ratio 2025: 9.6×

PepsiCo P/B Ratio 2024: 11.6×

PepsiCo P/B Ratio 2023: 12.6×

PepsiCo P/B Ratio 2022: 14.5×

PepsiCo P/B Ratio 2021: 15.0×

Sector peers by P/B Ratio — chart

Sector peers by P/B Ratio — table

Frequently asked questions

PepsiCo (PEP) Key Financials

P/B Ratio daily chart for PepsiCo (PEP)

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

About P/B Ratio at PepsiCo (PEP)

PepsiCo P/B Ratio by Year

PepsiCo P/B Ratio 2025: 9.6×

PepsiCo P/B Ratio 2024: 11.6×

PepsiCo P/B Ratio 2023: 12.6×

PepsiCo P/B Ratio 2022: 14.5×

PepsiCo P/B Ratio 2021: 15.0×

Sector peers by P/B Ratio — chart

Sector peers by P/B Ratio — table

Frequently asked questions

+What is PepsiCo's P/B ratio?

+How is the P/B ratio calculated?

+What is the P/B ratio?

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

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

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

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

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

PepsiCo (PEP) Key Financials