PepsiCo, Inc.

PEPNASDAQConsumer Defensive● Active

$141.92

$-0.23(-0.16%)

Market Cap$194.0B

P/E Ratio—

52W High$171.48

52W Low$127.6

Avg Volume6.5M

Open$141.56

Beta0.36

Overview

PepsiCo, Inc. (PEP) Free Cash Flow & Analysis

Annual & trailing free cash flow, FCF margin, YoY change, valuation ratios, and peer context.

PEP · free cash flow · updated Jun 8, 2026

Core FCF metrics

PEP · FCF · TTM · margin & CAGR

Free cash flow was $7.67B for FY2025 (fiscal year ending 2025-12-27), up 6.7% year-over-year The FCF margin was 8.2%. Five-year CAGR stands at +3.8%.

FY2025 Free Cash Flow$7.67B▲ +6.7% YoY

Trailing 12M (TTM)$8.84Btrailing 4 quarters sum

FCF Margin8.2%$7.67B ÷ revenue

3-Year CAGR+11.0%FY2022 → FY2025

5-Year CAGR+3.8%FY2020 → FY2025

FormulaFCF = Operating Cash Flow − Capital ExpendituresTTM = trailing 4 quarters sumCAGR → N/A if either endpoint ≤ 0

Source: FMP /cash-flow-statement · SEC 10-K / 10-Q · USDUpdated: Jun 8, 2026

Annual free cash flow history

FCF ($B, upper) · YoY Growth % (lower)

Positive FCFNegative FCF

Free Cash Flow

YoY Growth %

Annual free cash flow data

PEP · free cash flow history · annual / quarterly

Fiscal YearOperating CFCapExFree Cash FlowYoY ChangeFCF Margin

FY2025Latest$12.09B(4.42B)$7.67B▲ +6.7%8.2%

FY2024$12.51B(5.32B)$7.19B▼ 9.3%7.8%

FY2023$13.44B(5.52B)$7.92B▲ +41.4%8.7%

FY2022$10.81B(5.21B)$5.60B▼ 19.8%6.5%

FY2021$11.62B(4.63B)$6.99B▲ +9.7%8.8%

FCF = Operating Cash Flow − Capital Expenditures · CapEx shown as (negative) · Source: SEC filings via FMP

FCF valuation metrics

PEP · P/FCF · FCF yield · FCF per share

PepsiCo, Inc. (PEP) trades at a FCF yield of 4.56% and a price-to-free-cash-flow ratio of 21.9x. FCF per share stands at $6.47, calculated using trailing twelve-month FCF divided by basic weighted-average shares outstanding.

FCF Yield (TTM)

4.56%

Free Cash Flow ÷ Market Cap

per FMP freeCashFlowYieldTTM definition

FCF per Share (TTM)

$6.47

TTM FCF ÷ Shares Outstanding

Price / FCF

x21.9

Share Price ÷ FCF per Share

EV / FCF (TTM)

x26.7

Enterprise Value basis

Source: FMP /key-metrics-ttm · /cash-flow-statement Q · /income-statementFY2025 · 2025-12-27

Cash flow statement summary

PEP · cash flow statement · operating / investing / financing

For FY2025, PepsiCo, Inc. generated $12.09B in operating cash flow and spent 4.42B in capital expenditures, yielding $7.67B in free cash flow.

Operating Activities

+$12.09B

Cash from core business operations

2025-12-27

Investing Activities

−$6.88B

CapEx, acquisitions & investments

2025-12-27

Financing Activities

−$4.98B

Buybacks, dividends & debt

2025-12-27

FCF FormulaOperating CF ($12.09B) − |CapEx| (4.42B) = FCF ($7.67B)

For the complete Operating / Investing / Financing line-item breakdown:

View Full Cash Flow Statement →

Free cash flow vs peers (Consumer Defensive)

PEP vs peers · FCF

#CompanyFree Cash FlowYoYFCF MarginRelative

PepsiCo, Inc.YOU

PEP

$7.67B+6.7%8.2%

51%

The Procter & Gamble Company

$14.04B-15.0%16.7%

94%

Philip Morris International Inc.

$10.66B-1.0%26.2%

71%

Costco Wholesale Corporation

COST

$7.84B+18.2%2.8%

53%

The Coca-Cola Company

$5.30B+11.7%11.0%

35%

Consumer Defensive · Sorted by FCF · FMP /cash-flow-statementFull FCF Rankings →

About Free Cash Flow & Methodology

PepsiCo, Inc. (PEP) reported free cash flow of $7.67B for FY2025 (fiscal year ending 2025-12-27), up 6.7% year-over-year. The FCF margin was 8.2%.

Based on available data, PepsiCo, Inc. has maintained positive free cash flow for at least 15 fiscal year(s). FCF peaked at $7.92B in FY2023. The 5-year CAGR stands at +3.8%.

PepsiCo, Inc.'s FCF yield is 4.56% and price-to-FCF ratio is 21.9x for FY2025, based on the latest available data.

Data sourced from FMP /cash-flow-statement · SEC 10-K / 10-Q · USD.

Q&A and summaries align with SEC 10-K/10-Q cash flow disclosures and FMP /cash-flow-statement where noted.

Revenue Financial statements Net income Earnings Forecast Price history Market cap Cash on hand P/E ratio

Frequently asked questions

PEP free cash flow · 8 questions

PepsiCo, Inc. free cash flow was $7.67B for FY2025, up 6.7% year-over-year. On a trailing twelve-month (TTM) basis, free cash flow stands at $8.84B.

PEP free cash flowPEP FCFPEP FCF 2025PEP free cash flow TTM

▸ Source: FMP /cash-flow-statement · US GAAP · PepsiCo, Inc. · PepsiCo, Inc. SEC 10-K & 10-Q filings · US GAAP · Last updated: Jun 8, 2026