PepsiCo (PEP) Balance Sheet: Assets & Liabilities

PepsiCo (PEP) Balance Sheet

As of Dec 31, 2025 (end of fiscal 2025), PepsiCo reported total assets of $107.40B and total liabilities of $86.85B. Shareholders' equity was $20.41B, up 13.1% from $18.04B a year earlier. Total debt stood at $49.90B against $9.53B in cash and short-term investments, a net debt position of $40.37B. That puts debt-to-equity at 2.45, compared with 2.46 a year earlier.

PepsiCo Balance Sheet Analysis

Values in billions USD

Income Statement Balance Sheet Cash Flow Ratios

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Balance sheet showing assets, liabilities, and shareholders' equity for PepsiCo, Inc. (PEP) - Annual data in billions USD
Breakdown	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019	FY 2018	FY 2017
Period ending	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020	Dec 2019	Dec 2018	Dec 2017
Current Assets
Cash and Cash Equivalents	9.16	8.51	9.71	4.95	5.60	8.19	5.51	8.72	10.61
Short-Term Investments	0.37	0.76	0.29	0.39	0.39	1.37	0.23	0.27	8.90
Cash & Short-Term Investments	9.53	9.27	10.00	5.35	5.99	9.55	5.74	8.99	19.51
Accounts Receivable	11.51	8.49	8.68	8.19	8.68	8.40	7.82	7.14	7.02
Inventory	5.85	5.31	5.33	5.22	4.35	4.17	3.34	3.13	2.95
Other Current Assets	1.07	0.92	0.80	0.81	2.77	0.87	0.75	2.63	1.55
Total Current Assets	27.95	25.83	26.95	21.54	21.78	23.00	17.65	21.89	31.03
Non-Current Assets
Property, Plant & Equipment (Net)	33.65	31.39	29.94	26.66	24.43	23.04	20.85	17.59	17.24
Long-Term Investments	4.56	1.99	2.71	3.07	2.63	2.79	2.68	2.41	2.04
Goodwill	18.92	17.53	17.73	18.20	18.38	18.76	15.50	14.81	14.74
Intangible Assets	15.07	14.80	14.93	15.59	18.67	19.32	16.04	15.83	13.84
Other Non-Current Assets	2.71	0.82	0.78	0.83	2.18	1.64	1.46	0.76	0.91
Total Non-Current Assets	79.45	73.64	73.55	70.65	70.59	69.92	60.90	55.76	48.78
Total Assets	107.40	99.47	100.50	92.19	92.38	92.92	78.55	77.65	79.80
Current Liabilities
Accounts Payable	11.70	11.00	11.64	10.73	9.83	8.85	8.01	7.21	6.73
Short-Term Debt	7.58	7.08	6.51	3.41	4.75	4.24	3.36	4.03	5.49
Current Portion of Long-Term Debt	4.03	4.00	3.92	3.10	3.87	-	-	-	-
Accrued Liabilities	3.51	3.46	3.52	3.64	5.41	-	-	-	-
Other Current Liabilities	13.48	5.22	4.97	4.39	11.63	10.28	9.09	10.90	8.29
Total Current Liabilities	32.76	31.54	31.65	26.79	26.22	23.37	20.46	22.14	20.50
Non-Current Liabilities
Long-Term Debt	42.32	37.22	37.60	35.66	36.03	40.37	29.15	28.30	33.80
Deferred Tax Liabilities	3.80	3.48	3.90	4.13	4.83	4.28	4.09	3.50	3.24
Other Non-Current Liabilities	7.97	9.05	8.72	8.34	9.15	11.34	9.98	9.11	11.28
Total Non-Current Liabilities	54.09	49.76	50.21	48.13	50.01	55.99	43.22	40.91	48.32
Total Liabilities	86.85	81.30	81.86	74.91	76.23	79.37	63.68	63.05	68.82
Stockholders' Equity
Common Stock	0.02	0.02	0.02	0.02	0.02	0.02	0.02	0.02	0.02
Retained Earnings	72.79	72.27	70.04	67.80	65.17	63.44	61.95	59.95	52.84
Accumulated Other Comprehensive Income	-15.02	-17.61	-15.53	-15.30	-14.90	-15.48	-14.30	-15.12	-13.06
Treasury Stock	41.83	41.02	40.28	39.51	-	-	-	-	-
Additional Paid-in Capital	-37.38	4.39	4.26	4.13	-34.25	-34.54	-32.88	-30.33	-28.96
Minority Interest	0.14	0.13	0.13	0.12	0.11	0.10	0.08	0.08	0.09
Shares Outstanding	1.37	1.37	1.37	1.38	-	-	-	-	-
Total Stockholders' Equity	20.41	18.04	18.50	17.15	16.04	13.45	14.79	14.52	10.89
Total Liabilities & Equity	107.40	99.47	100.50	92.19	92.38	92.92	78.55	77.65	79.80

Source: Company financial statements from annual and quarterly filings. Data as of Sep 5, 2026. Data sources and methodology

Frequently Asked Questions About PepsiCo Balance Sheet

How much debt does PepsiCo have?

PepsiCo had total debt of $49.90B as of Dec 31, 2025, against $9.53B in cash and short-term investments. Its debt-to-equity ratio was 2.45. Total debt was $44.31B a year earlier.

What are PepsiCo's total assets?

PepsiCo reported total assets of $107.40B as of Dec 31, 2025, up 8.0% from $99.47B a year earlier. Total liabilities were $86.85B.

What is PepsiCo's shareholders' equity?

PepsiCo's shareholders' equity was $20.41B as of Dec 31, 2025, or about $14.92 of book value per share.

What is the debt-to-equity ratio?

The debt-to-equity ratio divides a company's total debt by its shareholders' equity. It shows how much of the business is financed with borrowed money; normal levels vary widely by industry. Full definition