Question 1

What is PepsiCo's P/B ratio?

Accepted Answer

PepsiCo (PEP) P/B ratio is 8.4× as of July 22, 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 8.4× is below its own 5-year average of 12.1× 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 12.1× 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	$197B	$20.4B	9.6×	-1.9×	Dec 27, 2025
2024	$209B	$18B	11.6×	-1.0×	Dec 31, 2024
2023	$233B	$18.5B	12.6×	-1.9×	Dec 31, 2023
2022	$249B	$17.1B	14.5×	-0.5×	Dec 31, 2022
2021	$240B	$16B	15.0×	-0.2×	Dec 31, 2021
2020	$205B	$13.5B	15.2×	+2.4×	Dec 31, 2020
2019	$190B	$14.8B	12.9×	+2.1×	Dec 31, 2019
2018	$156B	$14.5B	10.7×	-4.9×	Dec 31, 2018
2017	$170B	$10.9B	15.6×	+2.2×	Dec 31, 2017
2016	$149B	$11.1B	13.5×	+1.3×	Dec 31, 2016
2015	$145B	$11.9B	12.1×	+4.1×	Dec 31, 2015
2014	$141B	$17.4B	8.1×	+2.8×	Dec 31, 2014
2013	$127B	$24.3B	5.2×	+0.5×	Dec 31, 2013
2012	$106B	$22.3B	4.7×	-0.3×	Dec 31, 2012
2011	$105B	$20.6B	5.1×	+0.2×	Dec 31, 2011
2010	$103B	$21.2B	4.9×	-0.8×	Dec 31, 2010
2009	$94.9B	$16.8B	5.6×	-1.3×	Dec 31, 2009
2008	$84.7B	$12.1B	7.0×	-0.1×	Dec 31, 2008
2007	$122B	$17.2B	7.1×	+0.5×	Dec 31, 2007
2006	$102B	$15.4B	6.6×	-0.3×	Dec 31, 2006
2005	$99B	$14.3B	6.9×	+0.5×	Dec 31, 2005
2004	$86.9B	$13.6B	6.4×	-0.3×	Dec 31, 2004
2003	$79.4B	$11.9B	6.7×	-1.2×	Dec 31, 2003
2002	$73B	$9.3B	7.9×	—	Dec 31, 2002


Albertsons Companies (ACI)	5.0×
Coca-Cola Europacific Partners (CCEP)	4.4×
Marzetti (MZTI)	3.6×
Lamb Weston (LW)	3.6×
Target (TGT)	3.6×
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×
Constellation Brands (STZ)	2.8×
Performance Food Group (PFGC)	2.7×
General Mills (GIS)	2.5×
J. M. Smucker (SJM)	1.9×
McCormick & Company (MKC)	1.8×
Archer-Daniels-Midland (ADM)	1.5×
Bunge Global S.A. (BG)	1.5×
Campbell Soup (CPB)	1.5×
Hormel Foods (HRL)	1.5×
Keurig Dr Pepper (KDP)	1.4×
Tyson Foods (TSN)	1.2×
Conagra Brands (CAG)	1.0×
Universal Corporation (UVV)	0.9×
Molson Coors Beverage (TAP)	0.8×
Kraft Heinz (KHC)	0.6×

P/B Ratio for PepsiCo (PEP) 2002-2026

P/B Ratio daily chart for PepsiCo (PEP)

Historical P/B Ratio for PepsiCo (PEP) from 2002 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