PEP

PEPSICO INCeval run

10-K for period ending 2025-12-27gpt-6-luna@none · prompt v4$0.00062.4s11/11 correct vs SECfiling on sec.gov ↗

figures

field	value	statement row	printed	SEC
Total revenue	$93.9B	R1 Net Revenue	93,925 millions	$93.9B ✓
Operating income	$11.5B	R6 Operating Profit	11,498 millions	$11.5B ✓
Net income attributable to the company	$8.2B	R13 Net Income Attributable to PepsiCo	8,240 millions	$8.2B ✓
Diluted EPS	$6.00	R16 Diluted	6.00	$6.00 ✓
Cash and cash equivalents	$9.2B	R3 Cash and cash equivalents	9,159 millions	$9.2B ✓
Total assets	$107.4B	R20 Total Assets	107,399 millions	$107.4B ✓
Total liabilities	$86.9B	R29 Total Liabilities	86,852 millions	$86.9B ✓
Total shareholders' equity attributable to the company	$20.4B	R37 Total PepsiCo Common Shareholders’ Equity	20,406 millions	$20.4B ✓
Net cash from operating activities	$12.1B	R24 Net Cash Provided by Operating Activities	12,087 millions	$12.1B ✓
Net cash from investing activities	-$6.9B	R36 Net Cash Used for Investing Activities	(6,879) millions	-$6.9B ✓
Net cash from financing activities	-$5.0B	R50 Net Cash Used for Financing Activities	(4,979) millions	-$5.0B ✓

checks

assets = liabilities + equity · total assets equals total liabilities and equity
equity excludes minority interests · totalEquity excludes noncontrolling interests
net income is before preferred dividends · net income is not the after-preferred-dividends line
diluted EPS is for total net income · diluted EPS is for total net income
net income excludes minority interests · netIncome excludes noncontrolling interests
cash flows tie to the change in cash · operating + investing + financing (+ FX) equals the net change in cash

trace

0locator (code)0.17s

{
  "tables": 109,
  "exhibits": [],
  "documents": 1
}

{
  "income": {
    "rows": 20,
    "scale": 1000000,
    "score": 49.5,
    "heading": "ies Fiscal years ended December 27, 2025, December 28, 2024 and December 30, 2023 (in millions except per share amounts)",
    "tableIndex": 25,
    "runnerUpScore": 30
  },
  "balance": {
    "rows": 41,
    "scale": 1000000,
    "score": 53.5,
    "heading": "ance Sheet PepsiCo, Inc. and Subsidiaries December 27, 2025 and December 28, 2024 (in millions except per share amounts)",
    "tableIndex": 28,
    "runnerUpScore": 23
  },
  "cashflow": {
    "rows": 55,
    "scale": 1000000,
    "score": 55,
    "heading": "psiCo, Inc. and Subsidiaries Fiscal years ended December 27, 2025, December 28, 2024 and December 30, 2023 (in millions)",
    "tableIndex": 27,
    "runnerUpScore": 10
  }
}

1income statement agent1.59s · 1397 tokens · $0.0002

{
  "rows": 20,
  "retryHint": null,
  "tableIndex": 25
}

{
  "figures": [
    {
      "note": "Net Revenue is the company-wide revenue total.",
      "field": "revenue",
      "scale": 1000000,
      "value": 93925000000,
      "printed": "93,925",
      "rowIndex": 1,
      "rowLabel": "Net Revenue",
      "priorValue": 91854000000,
      "agentPrinted": "93,925",
      "failedChecks": [],
      "priorPrinted": "91,854",
      "groundingMismatch": false
    },
    {
      "note": "Operating Profit is the statement's operating income line.",
      "field": "operatingIncome",
      "scale": 1000000,
      "value": 11498000000,
      "printed": "11,498",
      "rowIndex": 6,
      "rowLabel": "Operating Profit",
      "priorValue": 12887000000,
      "agentPrinted": "11,498",
      "failedChecks": [],
      "priorPrinted": "12,887",
      "groundingMismatch": false
    },
    {
      "note": "This is net income attributable to PepsiCo, excluding noncontrolling interests.",
      "field": "netIncome",
      "scale": 1000000,
      "value": 8240000000,
      "printed": "8,240",
      "rowIndex": 13,
      "rowLabel": "Net Income Attributable to PepsiCo",
      "priorValue": 9578000000,
      "agentPrinted": "8,240",
      "failedChecks": [],
      "priorPrinted": "9,578",
      "groundingMismatch": false
    },
    {
      "note": "This is the diluted per-common-share amount.",
      "field": "epsDiluted",
      "scale": 1,
      "value": 6,
      "printed": "6.00",
      "rowIndex": 16,
      "rowLabel": "Diluted",
      "priorValue": 6.95,
      "agentPrinted": "6.00",
      "failedChecks": [],
      "priorPrinted": "6.95",
      "groundingMismatch": false
    }
  ],
  "statement": "income",
  "tableIndex": 25,
  "priorColumn": 1,
  "currentColumn": 0
}

2cash flow agent1.69s · 1817 tokens · $0.0002

{
  "rows": 55,
  "retryHint": null,
  "tableIndex": 27
}

{
  "figures": [
    {
      "note": "This is the operating activities section total, including changes in assets and liabilities.",
      "field": "operatingCashFlow",
      "scale": 1000000,
      "value": 12087000000,
      "printed": "12,087",
      "rowIndex": 24,
      "rowLabel": "Net Cash Provided by Operating Activities",
      "priorValue": 12507000000,
      "agentPrinted": "12,087",
      "failedChecks": [],
      "priorPrinted": "12,507",
      "groundingMismatch": false
    },
    {
      "note": "This is the net cash total for investing activities.",
      "field": "investingCashFlow",
      "scale": 1000000,
      "value": -6879000000,
      "printed": "(6,879)",
      "rowIndex": 36,
      "rowLabel": "Net Cash Used for Investing Activities",
      "priorValue": -5472000000,
      "agentPrinted": "(6,879)",
      "failedChecks": [],
      "priorPrinted": "(5,472)",
      "groundingMismatch": false
    },
    {
      "note": "This is the net cash total for financing activities.",
      "field": "financingCashFlow",
      "scale": 1000000,
      "value": -4979000000,
      "printed": "(4,979)",
      "rowIndex": 50,
      "rowLabel": "Net Cash Used for Financing Activities",
      "priorValue": -7556000000,
      "agentPrinted": "(4,979)",
      "failedChecks": [],
      "priorPrinted": "(7,556)",
      "groundingMismatch": false
    }
  ],
  "statement": "cashflow",
  "tableIndex": 27,
  "priorColumn": 1,
  "currentColumn": 0
}

3balance sheet agent1.95s · 1458 tokens · $0.0002

{
  "rows": 41,
  "retryHint": null,
  "tableIndex": 28
}

{
  "figures": [
    {
      "note": "This is the balance-sheet line for cash and cash equivalents.",
      "field": "cash",
      "scale": 1000000,
      "value": 9159000000,
      "printed": "9,159",
      "rowIndex": 3,
      "rowLabel": "Cash and cash equivalents",
      "priorValue": 8505000000,
      "agentPrinted": "9,159",
      "failedChecks": [],
      "priorPrinted": "8,505",
      "groundingMismatch": false
    },
    {
      "note": "This row prints total assets.",
      "field": "totalAssets",
      "scale": 1000000,
      "value": 107399000000,
      "printed": "107,399",
      "rowIndex": 20,
      "rowLabel": "Total Assets",
      "priorValue": 99467000000,
      "agentPrinted": "107,399",
      "failedChecks": [],
      "priorPrinted": "99,467",
      "groundingMismatch": false
    },
    {
      "note": "This is the explicit total liabilities line, not liabilities and equity.",
      "field": "totalLiabilities",
      "scale": 1000000,
      "value": 86852000000,
      "printed": "86,852",
      "rowIndex": 29,
      "rowLabel": "Total Liabilities",
      "priorValue": 81296000000,
      "agentPrinted": "86,852",
      "failedChecks": [],
      "priorPrinted": "81,296",
      "groundingMismatch": false
    },
    {
      "note": "This is PepsiCo shareholders’ equity attributable to the company, excluding noncontrolling interests.",
      "field": "totalEquity",
      "scale": 1000000,
      "value": 20406000000,
      "printed": "20,406",
      "rowIndex": 37,
      "rowLabel": "Total PepsiCo Common Shareholders’ Equity",
      "priorValue": 18041000000,
      "agentPrinted": "20,406",
      "failedChecks": [],
      "priorPrinted": "18,041",
      "groundingMismatch": false
    }
  ],
  "statement": "balance",
  "tableIndex": 28,
  "priorColumn": 1,
  "currentColumn": 0
}

4reconciler (code)0.00s

null

[
  {
    "name": "balance_identity",
    "detail": "total assets equals total liabilities and equity",
    "fields": [
      "totalAssets"
    ],
    "passed": true,
    "skipped": false,
    "statement": "balance"
  },
  {
    "name": "totalEquity_attribution",
    "detail": "totalEquity excludes noncontrolling interests",
    "fields": [
      "totalEquity"
    ],
    "passed": true,
    "skipped": false,
    "statement": "balance"
  },
  {
    "name": "netIncome_before_preferred",
    "detail": "net income is not the after-preferred-dividends line",
    "fields": [
      "netIncome"
    ],
    "passed": true,
    "skipped": false,
    "statement": "income"
  },
  {
    "name": "epsDiluted_total",
    "detail": "diluted EPS is for total net income",
    "fields": [
      "epsDiluted"
    ],
    "passed": true,
    "skipped": false,
    "statement": "income"
  },
  {
    "name": "netIncome_attribution",
    "detail": "netIncome excludes noncontrolling interests",
    "fields": [
      "netIncome"
    ],
    "passed": true,
    "skipped": false,
    "statement": "income"
  },
  {
    "name": "cash_flow_tie",
    "detail": "operating + investing + financing (+ FX) equals the net change in cash",
    "fields": [
      "operatingCashFlow",
      "investingCashFlow",
      "financingCashFlow"
    ],
    "passed": true,
    "skipped": false,
    "statement": "cashflow"
  }
]

Income statement

table #25 · current period is figure column 1

0	2025	2024	2023
1	Net Revenue← Total revenue	93,925	91,854	91,471
2	Cost of sales	43,066	41,744	41,881
3	Gross profit	50,859	50,110	49,590
4	Selling, general and administrative expenses	37,368	37,190	36,677
5	Impairment of intangible assets (see Notes 1 and 4)	1,993	33	927
6	Operating Profit← Operating income	11,498	12,887	11,986
7	Other pension and retiree medical benefits (expense)/income	(133)	(22)	250
8	Net interest expense and other	(1,121)	(919)	(819)
9	Income before income taxes	10,244	11,946	11,417
10	Provision for income taxes	1,949	2,320	2,262
11	Net income	8,295	9,626	9,155
12	Less: Net income attributable to noncontrolling interests	55	48	81
13	Net Income Attributable to PepsiCo← Net income attributable to the company	8,240	9,578	9,074
14	Net Income Attributable to PepsiCo per Common Share
15	Basic	6.02	6.97	6.59
16	Diluted← Diluted EPS	6.00	6.95	6.56
17	Weighted-average common shares outstanding
18	Basic	1,369	1,373	1,376
19	Diluted	1,373	1,378	1,383

Balance sheet

table #28 · current period is figure column 1

0	2025	2024
1	ASSETS
2	Current Assets
3	Cash and cash equivalents← Cash and cash equivalents	9,159	8,505
4	Short-term investments	371	761
5	Accounts and notes receivable, net	11,506	10,333
6	Inventories
7	Raw materials and packaging	2,581	2,440
8	Work-in-process	143	104
9	Finished goods	3,121	2,762
10	5,845	5,306
11	Prepaid expenses and other current assets	1,068	921
12	Total Current Assets	27,949	25,826
13	Property, Plant and Equipment, net	29,905	28,008
14	Amortizable Intangible Assets, net	1,219	1,102
15	Goodwill	18,916	17,534
16	Other Indefinite-Lived Intangible Assets	13,847	13,699
17	Investments in Noncontrolled Affiliates	2,038	1,985
18	Deferred Income Taxes	4,541	4,362
19	Other Assets	8,984	6,951
20	Total Assets← Total assets	107,399	99,467
21	LIABILITIES AND EQUITY
22	Current Liabilities
23	Short-term debt obligations	6,861	7,082
24	Accounts payable and other current liabilities	25,903	24,454
25	Total Current Liabilities	32,764	31,536
26	Long-Term Debt Obligations	42,321	37,224
27	Deferred Income Taxes	3,802	3,484
28	Other Liabilities	7,965	9,052
29	Total Liabilities← Total liabilities	86,852	81,296
30	Commitments and contingencies
31	PepsiCo Common Shareholders’ Equity
32	Common stock, par value 12/3¢ per share (authorized 3,600 shares; issued, net of repurchased common stock at par value: 1,367 and 1,372 shares, respectively)	23	23
33	Capital in excess of par value	4,451	4,385
34	Retained earnings	72,788	72,266
35	Accumulated other comprehensive loss	(15,024)	(17,612)
36	Repurchased common stock, in excess of par value 500 and 495 shares, respectively)	(41,832)	(41,021)
37	Total PepsiCo Common Shareholders’ Equity← Total shareholders' equity attributable to the company	20,406	18,041
38	Noncontrolling interests	141	130
39	Total Equity	20,547	18,171
40	Total Liabilities and Equity	107,399	99,467

Cash flow statement

table #27 · current period is figure column 1

0	2025	2024	2023
1	Operating Activities
2	Net income	8,295	9,626	9,155
3	Depreciation and amortization	3,451	3,160	2,948
4	Impairment and other charges	1,946	714	1,230
5	Product recall-related impact	-	187	136
6	Cash payments for product recall-related impact	(6)	(148)	-
7	Operating lease right-of-use asset amortization	727	655	570
8	Share-based compensation expense	288	362	380
9	Restructuring and impairment charges	983	727	445
10	Cash payments for restructuring charges	(796)	(436)	(434)
11	Acquisition and divestiture-related charges	453	22	41
12	Cash payments for acquisition and divestiture-related charges	(228)	(18)	(41)
13	Pension and retiree medical plan expenses	504	414	150
14	Pension and retiree medical plan contributions	(472)	(348)	(410)
15	Deferred income taxes and other tax charges and credits	71	(42)	(271)
16	Tax payments related to the TCJ Act	(772)	(579)	(309)
17	Change in assets and liabilities:
18	Accounts and notes receivable	(580)	(138)	(793)
19	Inventories	(150)	(314)	(261)
20	Prepaid expenses and other current assets	195	40	(13)
21	Accounts payable and other current liabilities	(677)	(943)	420
22	Income taxes payable	(433)	(123)	310
23	Other, net	(712)	(311)	189
24	Net Cash Provided by Operating Activities← Net cash from operating activities	12,087	12,507	13,442
25	Investing Activities
26	Capital spending	(4,415)	(5,318)	(5,518)
27	Sales of property, plant and equipment	528	342	198
28	Acquisitions, net of cash acquired, investments in noncontrolled affiliates and purchases of intangible and other assets	(3,391)	(256)	(314)
29	Divestitures, sales of investments in noncontrolled affiliates and other assets	39	166	75
30	Short-term investments, by original maturity:
31	More than three months - purchases	(190)	(425)	(555)
32	More than three months - maturities	605	-	556
33	More than three months - sales	-	-	12
34	Three months or less, net	45	5	3
35	Other investing, net	(100)	14	48
36	Net Cash Used for Investing Activities← Net cash from investing activities	(6,879)	(5,472)	(5,495)
37	2025	2024	2023
38	Financing Activities
39	Proceeds from issuances of long-term debt	8,189	4,042	5,482
40	Payments of long-term debt	(4,082)	(3,886)	(3,005)
41	Short-term borrowings, by original maturity:
42	More than three months - proceeds	6,391	5,786	5,428
43	More than three months - payments	(7,920)	(5,639)	(3,106)
44	Three months or less, net	1,170	392	(29)
45	Cash dividends paid	(7,638)	(7,229)	(6,682)
46	Share repurchases	(1,000)	(1,000)	(1,000)
47	Proceeds from exercises of stock options	97	166	116
48	Withholding tax payments on restricted stock units (RSUs) and performance stock units (PSUs) converted	(113)	(135)	(140)
49	Other financing	(73)	(53)	(73)
50	Net Cash Used for Financing Activities← Net cash from financing activities	(4,979)	(7,556)	(3,009)
51	Effect of exchange rate changes on cash and cash equivalents and restricted cash	422	(687)	(277)
52	Net Increase/(Decrease) in Cash and Cash Equivalents and Restricted Cash	651	(1,208)	4,661
53	Cash and Cash Equivalents and Restricted Cash, Beginning of Year	8,553	9,761	5,100
54	Cash and Cash Equivalents and Restricted Cash, End of Year	9,204	8,553	9,761