PepsiCo Cash Flow Statement

Financials in millions USD. Fiscal year is January - December.

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 27, 2025	Dec '24 Dec 28, 2024	Dec '23 Dec 30, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 25, 2021
Net Income	8,240	9,578	9,074	8,910	7,618
Depreciation & Amortization	3,918	3,616	3,359	3,157	3,080
Other Amortization	260	199	159	123	135
Loss (Gain) From Sale of Assets	-	-	-	-3,321	-
Asset Writedown & Restructuring Costs	2,133	1,005	1,241	3,805	-9
Stock-Based Compensation	288	362	380	343	301
Other Operating Activities	-1,107	-775	-434	-1,318	-227
Change in Accounts Receivable	-580	-138	-793	-1,763	-651
Change in Inventory	-150	-314	-261	-1,142	-582
Change in Accounts Payable	-677	-943	420	1,842	1,762
Change in Income Taxes	-433	-123	310	57	30
Change in Other Net Operating Assets	195	40	-13	118	159
Operating Cash Flow	12,087	12,507	13,442	10,811	11,616
Operating Cash Flow Growth	-3.36%	-6.96%	24.34%	-6.93%	9.45%
Capital Expenditures	-4,415	-5,318	-5,518	-5,207	-4,625
Sale of Property, Plant & Equipment	528	342	198	251	166
Cash Acquisitions	-3,391	-256	-314	-873	-61
Divestitures	39	166	75	3,505	169
Investment in Securities	460	-420	16	-117	1,077
Other Investing Activities	-100	14	48	11	5
Investing Cash Flow	-6,879	-5,472	-5,495	-2,430	-3,269
Short-Term Debt Issued	7,561	6,178	5,428	1,969	442
Long-Term Debt Issued	8,189	4,042	5,482	3,377	4,122
Total Debt Issued	15,750	10,220	10,910	5,346	4,564
Short-Term Debt Repaid	-7,920	-5,639	-3,135	-1,982	-397
Long-Term Debt Repaid	-4,082	-3,886	-3,005	-4,174	-8,299
Total Debt Repaid	-12,002	-9,525	-6,140	-6,156	-8,696
Net Debt Issued (Repaid)	3,748	695	4,770	-810	-4,132
Issuance of Common Stock	97	166	116	138	185
Repurchase of Common Stock	-1,113	-1,135	-1,140	-1,607	-198
Common Dividends Paid	-7,638	-7,229	-6,682	-6,172	-5,815
Dividends Paid	-7,638	-7,229	-6,682	-6,172	-5,815
Other Financing Activities	-73	-53	-73	-72	-820
Financing Cash Flow	-4,979	-7,556	-3,009	-8,523	-10,780
Foreign Exchange Rate Adjustments	422	-687	-277	-465	-114
Net Cash Flow	651	-1,208	4,661	-607	-2,547
Free Cash Flow	7,672	7,189	7,924	5,604	6,991
Free Cash Flow Growth	6.72%	-9.28%	41.40%	-19.84%	9.70%
Free Cash Flow Margin	8.17%	7.83%	8.66%	6.49%	8.80%
Free Cash Flow Per Share	5.59	5.22	5.73	4.04	5.03
Cash Interest Paid	1,748	1,585	1,401	1,043	1,184
Cash Income Tax Paid	3,083	3,064	2,532	2,766	1,933
Levered Free Cash Flow	8,233	7,201	7,565	6,681	5,188
Unlevered Free Cash Flow	8,933	7,780	8,083	7,169	6,312
Change in Working Capital	-1,645	-1,478	-337	-888	718

Updated Feb 3, 2026. Source: S&P Global Market Intelligence. Standard template. Financial Sources.

SEC Filings: 10-K · 10-Q