1) Completen el Análisis Vertical y Horizontal de Pepsi para todos los años (E.R. + B.G.)
2) Comparen el análisis Vertical del Estado de Resultados (E.R.) con la Razones de Rentabilidad. Comente por qué son similares o no.
3) Comente la evolución del Análisis Vertical del Balance General (B.G.), para todas las cuentas principales; Activos Corrientes y No Corrientes, Pasivos Corrientes y No Corrientes, Patrimonio Total.
4) ¿Cuál fue la cuenta que presentó el cambio más grande del Análisis Horizontal en el E.R. y en el B.G., y en qué año?
PepsiCo Inc (PEP US) - Ajustado
En Millones de USD excepto por acción
FY 2013
12 meses fin
12/28/2013
Ingreso
66,415.0
+ Ingresos de servicios y ventas
66,415.0
- Coste de ingreso
31,161.0
+ Coste de bienes y servicios
31,161.0
Beneficio bruto
35,254.0
+ Otros ingresos operacionales
0.0
- Gastos operacionales
25,193.0
+ Ventas, generales y admin
24,418.0
+ Investigación y desarrollo
665.0
+ Otro gasto operativo
110.0
Ingreso operacional (pérdida)
10,061.0
- Ingreso (pérdida) no operacional
814.0
+ Gasto de intereses, neto
814.0
+ Gastos de intereses
911.0
- Ingreso de intereses
97.0
+ (Plusvalía) pérdida del tipo de cambio
0.0
+ Beneficio (pérdida) de filiales
—
+ Otro (ingreso) pérdida no op
0.0
Beneficios (pérdidas) antes de impuestos, ajustados
9,247.0
- Pérdida anormal
356.0
+ Gasto de fusión o adquisición
10.0
+ Derivados atípicos
72.0
+ Rescate anticipado de deuda
—
+ Cancelación de activos
—
+ Impediemnto de intangibles
—
+ Beneficio/pérdida en la venta/adquisición de empresas
—
+ Restructura
163.0
+ Inversiones no realizadas
—
+ Otros elementos atípicos
111.0
Beneficios (pérdidas) antes de impuestos, GAAP8,891.0
- Gasto de impuesto a la renta (Beneficio)
2,104.0
+ Impuesto sobre la renta actual
2,023.0
+ Impuesto sobre la renta diferido
81.0
Beneficios (pérdidas) de operaciones continuas 6,787.0
- Pérdidas (ganancias) extraordinarias netas
0.0
+ Operaciones discontinuas
0.0
+ PE y cambios contables
0.0
Ingreso (pérdida) incl MI
6,787.0
- Minoritarios
47.0
Beneficio neto, GAAP
6,740.0
- Dividendos preferentes
1.0
- Otros ajustes
-7.0
beneficio neto disponible a accionistas comunes,
6,746.0
GAAP
Análisis Vertical
FY 2014
12/27/2014
66,683.0
66,683.0
31,205.0
31,205.0
35,478.0
0.0
25,165.0
24,289.0
718.0
158.0
10,313.0
824.0
824.0
909.0
85.0
0.0
—
0.0
9,489.0
732.0
—
68.0
—
—
—
—
418.0
—
246.0
8,757.0
2,199.0
2,425.0
-226.0
6,558.0
0.0
0.0
0.0
6,558.0
45.0
6,513.0
1.0
9.0
6,503.0
FY 2015
12/26/2015
63,056.0
63,056.0
28,749.0
28,749.0
34,307.0
0.0
24,243.0
23,574.0
754.0
-85.0
10,064.0
911.0
911.0
970.0
59.0
0.0
—
0.0
9,153.0
1,711.0
—
-11.0
—
76.0
—
—
90.0
1,359.0
197.0
7,442.0
1,941.0
1,981.0
-40.0
5,501.0
0.0
0.0
0.0
5,501.0
49.0
5,452.0
1.0
5.0
5,446.0
FY 2016
12/31/2016
62,799.0
62,799.0
28,300.0
28,300.0
34,499.0
0.0
24,087.0
23,327.0
760.0
0.0
10,412.0
1,018.0
1,232.0
1,342.0
110.0
0.0
—
-214.0
9,394.0
841.0
—
-167.0
233.0
—
—
—
—
—
775.0
8,553.0
2,174.0
2,120.0
54.0
6,379.0
0.0
0.0
0.0
6,379.0
50.0
6,329.0
1.0
5.0
6,323.0
FY 2017
12/30/2017
63,525.0
63,525.0
28,788.0
28,788.0
34,737.0
0.0
24,247.0
23,494.0
737.0
16.0
10,490.0
608.0
907.0
1,151.0
244.0
0.0
—
-299.0
9,882.0
280.0
—
-15.0
—
—
—
—
—
—
295.0
9,602.0
4,694.0
5,785.0
-1,091.0
4,908.0
0.0
0.0
0.0
4,908.0
51.0
4,857.0
0.0
4.0
4,853.0
FY 2018
12/29/2018
64,661.0
64,661.0
29,295.0
29,295.0
35,366.0
0.0
24,746.0
24,066.0
680.0
0.0
10,620.0
885.0
1,219.0
1,525.0
306.0
0.0
—
-334.0
9,735.0
546.0
75.0
163.0
—
—
—
—
—
—
308.0
9,189.0
-3,370.0
878.0
-4,248.0
12,559.0
0.0
0.0
0.0
12,559.0
44.0
12,515.0
0.0
2.0
12,513.0
FY 2019
12/28/2019
67,161.0
67,161.0
30,040.0
30,040.0
37,121.0
0.0
26,519.0
25,808.0
711.0
0.0
10,602.0
704.0
935.0
1,135.0
200.0
0.0
—
-231.0
9,898.0
586.0
55.0
-112.0
—
—
—
—
—
—
643.0
9,312.0
1,959.0
1,655.0
304.0
7,353.0
0.0
0.0
0.0
7,353.0
39.0
7,314.0
0.0
0.0
7,314.0
Últ 12M
12/28/2019
67,161.0
67,161.0
30,070.0
30,070.0
37,091.0
0.0
26,378.0
26,681.0
-303.0
10,713.0
704.0
935.0
1,135.0
200.0
-231.0
10,009.0
697.0
55.0
-112.0
FY 2020 Est
12/31/2020
69,888.6
FY 2021 Est
12/31/2021
72,791.9
38,774.9
40,631.7
11,182.9
10,459.3
11,887.5
11,150.0
FY 2013
12/28/2013
100.00%
100.00%
46.92%
46.92%
53.08%
0.00%
37.93%
36.77%
1.00%
0.17%
15.15%
1.23%
1.23%
1.37%
0.15%
0.00%
FY 2014
12/27/2014
100.00%
100.00%
46.80%
46.80%
53.20%
0.00%
37.74%
36.42%
1.08%
0.24%
15.47%
1.24%
1.24%
1.36%
0.13%
0.00%
FY 2015
12/26/2015
100.00%
100.00%
45.59%
45.59%
54.41%
0.00%
38.45%
37.39%
1.20%
-0.13%
15.96%
1.44%
1.44%
1.54%
0.09%
0.00%
FY 2016
12/31/2016
100.00%
100.00%
45.06%
45.06%
54.94%
0.00%
38.36%
37.15%
1.21%
0.00%
16.58%
1.62%
1.96%
2.14%
0.18%
0.00%
FY 2017
12/30/2017
100.00%
100.00%
45.32%
45.32%
54.68%
0.00%
38.17%
36.98%
1.16%
0.03%
16.51%
0.96%
1.43%
1.81%
0.38%
0.00%
FY 2018
12/29/2018
100.00%
100.00%
45.31%
45.31%
54.69%
0.00%
38.27%
37.22%
1.05%
0.00%
16.42%
1.37%
1.89%
2.36%
0.47%
0.00%
FY 2019
12/28/2019
100.00%
100.00%
44.73%
44.73%
55.27%
0.00%
39.49%
38.43%
1.06%
0.00%
15.79%
1.05%
1.39%
1.69%
0.30%
0.00%
0.00%
13.92%
0.54%
0.02%
0.11%
0.00%
14.23%
1.10%
0.00%
14.52%
2.71%
-0.34%
14.96%
1.34%
-0.47%
15.56%
0.44%
0.10%
-0.02%
-0.27%
0.37%
-0.02%
-0.52%
15.06%
0.84%
0.12%
0.25%
-0.34%
14.74%
0.87%
0.08%
-0.17%
FY 2013
12/28/2013
Análisis Horizontal Indexado
FY 2014
12/27/2014
100.40%
100.40%
100.14%
100.14%
100.64%
FY 2015
12/26/2015
94.56%
94.56%
92.13%
92.13%
96.70%
FY 2016
12/31/2016
99.59%
99.59%
98.44%
98.44%
100.56%
FY 2017
12/30/2017
101.16%
101.16%
101.72%
101.72%
100.69%
FY 2018
12/29/2018
101.79%
101.79%
101.76%
101.76%
101.81%
FY 2019
12/28/2019
103.87%
103.87%
102.54%
102.54%
104.96%
99.89%
99.47%
107.97%
143.64%
102.50%
101.23%
101.23%
99.78%
87.63%
96.34%
97.06%
105.01%
-53.80%
97.59%
110.56%
110.56%
106.71%
69.41%
99.36%
98.95%
100.80%
0.00%
103.46%
111.75%
135.24%
138.35%
186.44%
100.66%
100.72%
96.97%
107.16%
107.24%
104.56%
100.75%
59.72%
73.62%
85.77%
221.82%
102.06%
102.43%
92.27%
0.00%
101.24%
145.56%
134.40%
132.49%
125.41%
111.71%
98.51%
195.00%
-1086.67%
69.16%
101.67%
107.33%
73.33%
-68.71%
99.83%
79.55%
76.70%
74.43%
65.36%
FY 2013
12/28/2013
FY 2014
12/27/2014
100.40%
100.40%
100.14%
100.14%
100.64%
FY 2015
12/26/2015
94.94%
94.94%
92.26%
92.26%
97.31%
FY 2016
12/31/2016
94.56%
94.56%
90.82%
90.82%
97.86%
FY 2017
12/30/2017
95.65%
95.65%
92.38%
92.38%
98.53%
FY 2018
12/29/2018
97.36%
97.36%
94.01%
94.01%
100.32%
FY 2019
12/28/2019
101.12%
101.12%
96.40%
96.40%
105.30%
99.89%
99.47%
107.97%
143.64%
102.50%
101.23%
101.23%
99.78%
87.63%
96.23%
96.54%
113.38%
-77.27%
100.03%
111.92%
111.92%
106.48%
60.82%
95.61%
95.53%
114.29%
0.00%
103.49%
125.06%
151.35%
147.31%
113.40%
96.24%
96.22%
110.83%
14.55%
104.26%
74.69%
111.43%
126.34%
251.55%
98.23%
98.56%
102.26%
0.00%
105.56%
108.72%
149.75%
167.40%
315.46%
105.26%
105.69%
106.92%
0.00%
105.38%
86.49%
114.86%
124.59%
206.19%
102.62%
205.62%
98.98%
480.62%
101.59%
236.24%
106.87%
78.65%
94.44%
-15.28%
-231.94%
-20.83%
105.28%
153.37%
750.00%
226.39%
107.04%
164.61%
550.00%
-155.56%
256.44%
55.21%
102.62%
205.62%
96.46%
233.74%
102.63%
49.15%
139.72%
105.19%
33.29%
94.44%
-16.18%
1518.18%
8.98%
256.44%
21.53%
221.62%
98.49%
104.52%
119.87%
-279.01%
96.63%
80.08%
84.98%
88.27%
81.69%
17.70%
83.88%
393.40%
114.93%
112.00%
107.02%
-135.00%
115.96%
38.06%
112.26%
215.92%
272.88%
-2020.37%
76.94%
104.41%
95.70%
-71.79%
15.18%
389.37%
255.89%
208.77%
101.34%
-58.13%
188.50%
-7.16%
58.55%
221.62%
98.49%
104.52%
119.87%
-279.01%
96.63%
177.48%
83.70%
92.25%
97.92%
-49.38%
81.05%
698.20%
96.20%
103.33%
104.79%
66.67%
93.99%
265.77%
108.00%
223.10%
285.96%
-1346.91%
72.31%
277.48%
103.35%
-160.17%
43.40%
-5244.44%
185.04%
579.28%
104.74%
93.11%
81.81%
375.31%
108.34%
96.63%
95.74%
96.63%
100.00%
-128.57%
96.40%
83.88%
108.89%
83.71%
100.00%
55.56%
83.75%
115.96%
102.04%
116.09%
100.00%
100.00%
116.10%
76.94%
102.00%
76.74%
0.00%
80.00%
76.75%
255.89%
86.27%
257.67%
58.55%
88.64%
58.44%
50.00%
257.84%
0.00%
58.45%
96.63%
95.74%
96.63%
100.00%
-128.57%
96.40%
81.05%
104.26%
80.89%
100.00%
-71.43%
80.73%
93.99%
106.38%
93.90%
100.00%
-71.43%
93.73%
72.31%
108.51%
72.06%
0.00%
-57.14%
71.94%
185.04%
93.62%
185.68%
0.00%
-28.57%
185.49%
108.34%
82.98%
108.52%
0.00%
0.00%
108.42%
Valor Máximo
Valor Mínimo
1518.18%
-2020.37%
0.12%
638.0
9,312.0
1,959.0
10,459.3
11,150.0
7,353.0
0.0
0.0
0.0
7,353.0
39.0
7,314.0
0.0
0.0
7,314.0
8,136.6
8,794.7
8,136.6
8,794.7
8,248.1
8,766.0
8,136.6
8,794.7
Beneficio neto disponible a cap común, aj
Pérdidas atípicas netas (ganancias)
Pérdidas (ganancias) extraordinarias netas
7,038.0
292.0
0.0
7,056.0
553.0
0.0
6,868.0
1,422.0
0.0
7,034.0
711.0
0.0
7,520.0
2,667.0
0.0
7,872.0
-4,641.0
0.0
7,775.0
461.0
0.0
7,866.6
552.6
0.0
Acciones promedio básicas pond
BPA básicos, GAAP
BPA básicos de ops cont
BPA básicos de ops cont, ajustados
1,541.0
4.37
4.37
4.57
1,509.0
4.31
4.31
4.68
1,469.0
3.71
3.71
4.68
1,439.0
4.39
4.39
4.89
1,425.0
3.40
3.40
5.28
1,415.0
8.84
8.84
5.56
1,399.0
5.23
5.23
5.56
1,401.0
5.23
5.23
5.62
5.97
5.97
5.91
6.43
6.43
6.35
Acciones diluidas promedio pond
BPA diluidos, GAAP
BPA diluidos de ops cont
BPA diluidos de ops cont, ajustados
1,560.0
4.32
4.32
4.51
1,527.0
4.27
4.27
4.63
1,485.0
3.67
3.67
4.63
1,452.0
4.36
4.36
4.85
1,438.0
3.38
3.38
5.23
1,425.0
8.78
8.78
5.52
1,407.0
5.20
5.20
5.53
1,401.0
5.19
5.19
5.58
5.97
5.97
5.91
6.43
6.43
6.35
US GAAP
12,724.0
19.16
10,252.0
10,061.0
53.08
15.15
10.59
242,390.51
2.24
3,451.0
7.0
2,472.0
639.0
US GAAP
12,938.0
19.40
10,497.0
10,313.0
53.20
15.47
10.60
246,062.73
2.53
3,840.0
9.0
2,441.0
707.0
US GAAP
12,480.0
19.79
10,232.0
10,064.0
54.41
15.96
10.90
239,756.65
2.76
4,071.0
8.0
2,248.0
696.0
US GAAP
12,780.0
20.35
10,563.0
10,412.0
54.94
16.58
11.21
237,875.00
2.96
4,259.4
9.0
2,217.0
701.0
US GAAP
12,859.0
20.24
10,632.0
10,490.0
54.68
16.51
11.84
241,539.92
3.17
4,513.7
13.0
2,227.0
742.0
US GAAP
13,019.0
20.13
10,778.0
10,620.0
54.69
16.42
12.18
242,176.03
3.59
5,076.3
—
2,241.0
771.0
US GAAP
13,508.0
20.11
11,251.0
10,602.0
55.27
15.79
11.58
251,539.33
3.79
5,323.0
—
2,257.0
954.0
13,722.0
20.43
13,902.2
19.89
14,901.1
20.47
10,713.0
55.23
15.95
11.71
11,182.9
55.48
16.00
11.80
11,887.5
55.82
16.33
12.04
3.79
5,318.0
4.00
4.27
Referencia
Norma de contabilidad
EBITDA
Margen EBITDA (U12M)
EBITA
EBIT
Margen bruto
Margen operacional
Margen de beneficio
Ventas por empleado
Dividendos por acción
Dividendos ordinarios totales en efectivo
Gasto de interés capitalizado
Gasto de depreciación
Gasto de renta
Fuente: Bloomberg
Análisis Horizontal No Indexado
954.0
0.25%
0.63%
0.17%
13.39%
3.17%
3.05%
0.12%
10.22%
0.00%
0.00%
0.00%
10.22%
0.07%
10.15%
0.00%
-0.01%
10.16%
0.37%
13.13%
3.30%
3.64%
-0.34%
9.83%
0.00%
0.00%
0.00%
9.83%
0.07%
9.77%
0.00%
0.01%
9.75%
0.14%
2.16%
0.31%
11.80%
3.08%
3.14%
-0.06%
8.72%
0.00%
0.00%
0.00%
8.72%
0.08%
8.65%
0.00%
0.01%
8.64%
1.23%
13.62%
3.46%
3.38%
0.09%
10.16%
0.00%
0.00%
0.00%
10.16%
0.08%
10.08%
0.00%
0.01%
10.07%
0.46%
15.12%
7.39%
9.11%
-1.72%
7.73%
0.00%
0.00%
0.00%
7.73%
0.08%
7.65%
0.00%
0.01%
7.64%
0.48%
14.21%
-5.21%
1.36%
-6.57%
19.42%
0.00%
0.00%
0.00%
19.42%
0.07%
19.35%
0.00%
0.00%
19.35%
0.96%
13.87%
2.92%
2.46%
0.45%
10.95%
0.00%
0.00%
0.00%
10.95%
0.06%
10.89%
0.00%
0.00%
10.89%
+ Impuesto sobre la renta diferido FY 2017
PepsiCo Inc (PEP US) - Estandarizado
En Millones de USD excepto por acción
12 meses fin
Activo total
+ Efectivo, equivalentes y STI
+ Efectivo y equivalentes
+ Inversiones a corto plazo
+ Cuentas y notas por cobrar
+ Cuentas por cobrar, neto
+ Notas por cobrar, netas
+ Inventarios
+ Mat primas
+ Trabajo en proceso
+ Bienes de consumo
+ Otro inventario
+ Otros activos a CP
+ Activos derivados y de cobertura
+ Activos de impuestos diferidos
+ Activos varios a CP
Activos totales actuales
+ Propiedad, planta y equipo; neto
+ Propiedad, planta y equipo
- Depreciación acumulada
+ Inversiones y cuentas por cobrar a LP
+ Cuentas por cobrar LP
+ Otros activos a LP
+ Activos intangibles totales
+ Fondo de comercio
+ Otros activos intangibles
+ Activos de impuestos diferidos
+ Activos de derivados y de cobertura
+ Costes de pensiones prepagados
+ Inversiones en filiales
+ Activos varios a LP
Activos totales no corrientes
Activos totales
FY 2010
12/25/2010
FY 2011
12/31/2011
FY 2012
12/29/2012
FY 2013
12/28/2013
FY 2014
12/27/2014
FY 2015
12/26/2015
FY 2016
12/31/2016
FY 2017
12/30/2017
FY 2018
12/29/2018
FY 2019
12/28/2019
6,369.0
5,943.0
426.0
5,514.0
5,514.0
0.0
3,372.0
1,654.0
128.0
1,590.0
0.0
2,314.0
398.0
554.0
1,362.0
17,569.0
19,058.0
33,041.0
13,983.0
165.0
165.0
31,361.0
28,469.0
14,661.0
13,808.0
—
0.0
66.0
1,368.0
1,458.0
50,584.0
68,153.0
4,425.0
4,067.0
358.0
6,036.0
6,036.0
0.0
3,827.0
1,883.0
207.0
1,737.0
0.0
3,153.0
462.0
845.0
1,846.0
17,441.0
19,698.0
35,140.0
15,442.0
159.0
159.0
35,584.0
33,245.0
16,800.0
16,445.0
—
0.0
55.0
1,477.0
807.0
55,441.0
72,882.0
6,619.0
6,297.0
322.0
6,215.0
6,215.0
0.0
3,581.0
1,875.0
173.0
1,533.0
0.0
2,305.0
466.0
740.0
1,099.0
18,720.0
19,136.0
36,162.0
17,026.0
136.0
136.0
36,646.0
33,496.0
16,971.0
16,525.0
—
0.0
51.0
1,633.0
1,466.0
55,918.0
74,638.0
9,678.0
9,375.0
303.0
6,178.0
6,178.0
0.0
3,409.0
1,732.0
168.0
1,509.0
0.0
2,938.0
326.0
716.0
1,896.0
22,203.0
18,575.0
36,961.0
18,386.0
105.0
105.0
36,595.0
32,652.0
16,613.0
16,039.0
—
0.0
74.0
2,623.0
1,246.0
55,275.0
77,478.0
8,726.0
6,134.0
2,592.0
5,817.0
5,817.0
0.0
3,143.0
1,593.0
173.0
1,377.0
0.0
2,977.0
0.0
875.0
2,102.0
20,663.0
17,244.0
36,300.0
19,056.0
93.0
93.0
32,509.0
29,053.0
14,965.0
14,088.0
—
307.0
37.0
2,689.0
423.0
49,846.0
70,509.0
12,009.0
9,096.0
2,913.0
5,497.0
5,497.0
0.0
2,720.0
1,312.0
161.0
1,247.0
0.0
2,805.0
0.0
691.0
2,114.0
23,031.0
16,317.0
35,747.0
19,430.0
140.0
140.0
30,179.0
27,258.0
14,177.0
13,081.0
—
269.0
56.0
2,311.0
285.0
46,636.0
69,667.0
16,125.0
9,158.0
6,967.0
5,709.0
5,709.0
0.0
2,723.0
1,315.0
150.0
1,258.0
0.0
1,893.0
0.0
—
1,893.0
26,450.0
16,591.0
36,818.0
20,227.0
105.0
105.0
30,344.0
27,863.0
14,430.0
13,433.0
—
182.0
51.0
1,950.0
298.0
47,040.0
73,490.0
19,510.0
10,610.0
8,900.0
5,956.0
5,956.0
0.0
2,947.0
1,344.0
167.0
1,436.0
0.0
2,614.0
0.0
—
2,614.0
31,027.0
17,240.0
39,106.0
21,866.0
59.0
59.0
31,478.0
28,582.0
14,744.0
13,838.0
—
136.0
85.0
2,042.0
633.0
48,777.0
79,804.0
8,993.0
8,721.0
272.0
6,079.0
6,079.0
0.0
3,128.0
1,312.0
178.0
1,638.0
0.0
3,693.0
0.0
—
3,693.0
21,893.0
17,589.0
40,164.0
22,575.0
86.0
86.0
38,080.0
30,633.0
14,808.0
15,825.0
4,364.0
55.0
81.0
2,409.0
538.0
55,755.0
77,648.0
5,738.0
5,509.0
229.0
6,447.0
6,447.0
0.0
3,338.0
1,395.0
200.0
1,743.0
0.0
2,122.0
0.0
—
2,122.0
17,645.0
20,853.0
44,551.0
23,698.0
85.0
85.0
39,964.0
31,544.0
15,501.0
16,043.0
4,359.0
41.0
843.0
2,683.0
494.0
60,902.0
78,547.0
10,880.0
3,751.0
71.0
766.0
6,292.0
4,898.0
4,785.0
0.0
0.0
—
113.0
114.0
0.0
114.0
0.0
15,892.0
19,999.0
19,999.0
0.0
0.0
—
10,786.0
0.0
2,711.0
0.0
4,057.0
0.0
4,018.0
30,785.0
46,677.0
41.0
4,558.0
31.0
4,527.0
16,745.0
37,090.0
-3,780.0
21,164.0
312.0
21,476.0
68,153.0
11,574.0
3,708.0
192.0
813.0
6,861.0
6,205.0
3,656.0
0.0
0.0
—
2,549.0
375.0
0.0
375.0
0.0
18,154.0
20,568.0
20,568.0
0.0
0.0
—
13,261.0
0.0
4,391.0
0.0
4,995.0
0.0
3,875.0
33,829.0
51,983.0
41.0
4,487.0
26.0
4,461.0
17,870.0
40,316.0
-6,386.0
20,588.0
311.0
20,899.0
72,882.0
12,027.0
4,204.0
371.0
838.0
6,614.0
4,815.0
1,914.0
0.0
0.0
—
2,901.0
247.0
0.0
247.0
0.0
17,089.0
23,544.0
23,544.0
0.0
0.0
—
11,606.0
0.0
3,467.0
0.0
5,063.0
0.0
3,076.0
35,150.0
52,239.0
41.0
4,204.0
26.0
4,178.0
19,458.0
43,158.0
-5,651.0
22,294.0
105.0
22,399.0
74,638.0
12,290.0
4,631.0
—
877.0
6,782.0
5,306.0
3,082.0
0.0
0.0
—
2,224.0
243.0
0.0
243.0
0.0
17,839.0
24,333.0
24,333.0
0.0
0.0
—
10,917.0
0.0
1,986.0
0.0
5,986.0
0.0
2,945.0
35,250.0
53,089.0
41.0
4,120.0
25.0
4,095.0
21,004.0
46,420.0
-5,298.0
24,279.0
110.0
24,389.0
77,478.0
10,104.0
5,127.0
—
2,222.0
2,755.0
5,076.0
980.0
0.0
0.0
—
4,096.0
2,912.0
0.0
393.0
2,519.0
18,092.0
23,821.0
23,821.0
0.0
0.0
—
11,048.0
0.0
2,488.0
0.0
5,304.0
0.0
3,256.0
34,869.0
52,961.0
41.0
4,140.0
25.0
4,115.0
24,985.0
49,092.0
-10,850.0
17,438.0
110.0
17,548.0
70,509.0
10,665.0
5,546.0
—
2,319.0
2,800.0
4,071.0
962.0
0.0
0.0
—
3,109.0
2,842.0
0.0
0.0
2,842.0
17,578.0
29,213.0
29,213.0
0.0
0.0
—
10,846.0
0.0
2,576.0
0.0
4,959.0
543.0
2,768.0
40,059.0
57,637.0
41.0
4,100.0
24.0
4,076.0
29,185.0
50,472.0
-13,505.0
11,923.0
107.0
12,030.0
69,667.0
11,469.0
6,158.0
—
2,444.0
2,867.0
6,892.0
2,491.0
0.0
0.0
—
4,401.0
2,774.0
0.0
0.0
2,774.0
21,135.0
30,053.0
30,053.0
0.0
0.0
—
11,103.0
0.0
2,806.0
0.0
4,434.0
529.0
3,334.0
41,156.0
62,291.0
41.0
4,115.0
24.0
4,091.0
31,468.0
52,518.0
-14,111.0
11,095.0
104.0
11,199.0
73,490.0
12,063.0
6,727.0
—
2,390.0
2,946.0
5,485.0
1,465.0
0.0
0.0
—
4,020.0
2,954.0
0.0
0.0
2,954.0
20,502.0
33,796.0
33,796.0
0.0
0.0
—
14,525.0
0.0
3,312.0
0.0
3,242.0
410.0
7,561.0
48,321.0
68,823.0
41.0
4,020.0
24.0
3,996.0
32,757.0
52,839.0
-13,254.0
10,889.0
92.0
10,981.0
79,804.0
14,835.0
7,213.0
—
2,541.0
5,081.0
4,026.0
73.0
0.0
0.0
—
3,953.0
3,277.0
0.0
0.0
3,277.0
22,138.0
28,295.0
28,295.0
0.0
0.0
—
12,613.0
0.0
2,385.0
0.0
3,499.0
568.0
6,161.0
40,908.0
63,046.0
0.0
3,976.0
23.0
3,953.0
34,286.0
59,947.0
-15,119.0
14,518.0
84.0
14,602.0
77,648.0
13,580.0
8,013.0
—
58.0
5,509.0
3,362.0
72.0
442.0
—
442.0
2,848.0
3,519.0
0.0
0.0
3,519.0
20,461.0
30,266.0
29,148.0
1,118.0
—
1,118.0
12,952.0
0.0
2,367.0
0.0
4,091.0
470.0
6,024.0
43,218.0
63,679.0
0.0
3,909.0
23.0
3,886.0
36,769.0
61,946.0
-14,300.0
14,786.0
82.0
14,868.0
78,547.0
Referencia
Norma de contabilidad
US GAAP
Acciones en circulación:
1,581.0
Núm de acciones de Tesorería
284.0
Obligaciones de pensión
2,711.0
Arriendos futuros mínimos de operaciones
1,676.0
Arrend capital - Total
0.0
Opciones dadas en el periodo
26.9
Opciones en circulación al fin del periodo
106.2
Deuda neta
18,528.0
Deuda neta a capital
86.27
Ratio de capital ordinario tangible
-18.51
Ratio corriente
1.11
Ciclo de conversión de efectivo
26.88
Efectivo en el extranjero
—
Número de empleados
294,000.00
Fuente: Bloomberg
US GAAP
1,564.0
301.0
4,391.0
1,825.0
0.0
7.2
91.1
22,348.0
106.93
-32.04
0.96
31.31
—
297,000.00
US GAAP
1,544.0
322.0
3,467.0
2,061.0
0.0
3.7
68.1
21,740.0
97.06
-27.33
1.10
30.75
—
278,000.00
US GAAP
1,529.0
337.0
1,986.0
2,014.0
0.0
2.9
49.5
19,961.0
81.84
-18.77
1.24
22.93
8,400.0
274,000.00
US GAAP
1,488.0
378.0
2,488.0
1,894.0
0.0
3.4
38.9
20,171.0
114.95
-28.12
1.14
13.57
7,400.0
271,000.00
US GAAP
1,448.0
418.0
2,576.0
1,860.0
0.0
1.9
31.5
21,275.0
176.85
-36.26
1.31
1.18
11,100.0
263,000.00
US GAAP
1,428.0
438.0
2,806.0
1,780.0
0.0
1.7
25.2
20,820.0
185.91
-36.84
1.25
-8.04
15,200.0
264,000.00
US GAAP
1,420.0
446.0
3,312.0
1,894.0
0.0
1.5
19.0
19,771.0
180.05
-34.62
1.51
-11.55
18,900.0
263,000.00
US GAAP
1,409.0
458.0
2,385.0
1,840.0
0.0
1.4
15.6
23,328.0
159.76
-34.28
0.99
-14.32
5,700.0
267,000.00
US GAAP
1,391.0
476.0
2,367.0
1,763.0
—
1.3
11.6
27,890.0
187.58
-35.65
0.86
-18.33
—
267,000.00
Pasivo y capital social
+ Cuentas por pagar y devengos
+ Cuentas por pagar
+ Impuestos incurridos
+ Interés y dividendos por pagar
+ Otras cuentas por pagar y en devengo
+ Deuda CP
+ Préstamos CP
+ ST Lease Liabilities
+ Arrendamientos de finanzas a CP
+ Arrendamientos de operación a CP
+ Porción corriente de deuda a LP
+ Otros pasivos a corto plazo
+ Ingreso diferido
+ Derivados y cobertura
+ Pasivos varios a CP
Pasivos totales corrientes
+ Deuda LP
+ Préstamos a largo plazo
+ LT Lease Liabilities
+ Arrendamientos de finanzas a LP
+ Arrendamientos de operación a LP
+ Otros pasivos a LP
+ Pasivos acum
+ Pasivos de pensiones
+ Ingreso diferido
+ Pasivo de impuesto diferido
+ Derivados y cobertura
+ Pasivos varios a LP
Pasivos totales no corrientes
Pasivos totales
+ Acciones preferentes y capital híbrido
+ Capital en acciones y APIC
+ Capital común
+ Capital adicional pagado
- Acciones de Tesorería
+ Beneficios retenidos
+ Otro capital
Capital antes de interés minoritario
+ Participación minoritaria/no dominante
Patrimonio total
Pasivo y capital totales
Análisis Vertical
Análisis Horizontal
FY 2010
FY 2011
FY 2012
FY 2013
FY 2014
FY 2015
FY 2016
FY 2017
FY 2018
FY 2019
12/25/2010 12/31/2011 12/29/2012 12/28/2013 12/27/2014 12/26/2015 12/31/2016 12/30/2017 12/29/2018 12/28/2019
11.58%
7.31%
9.35%
6.07%
8.87%
12.49%
12.38%
17.24%
21.94%
24.45%
11.58%
7.31%
8.72%
5.58%
8.44%
12.10%
8.70%
13.06%
12.46%
13.30%
11.23%
7.01%
0.63%
0.49%
0.43%
0.39%
3.68%
4.18%
9.48%
11.15%
0.35%
0.29%
8.09%
8.28%
8.33%
7.97%
8.25%
7.89%
7.77%
7.46%
7.83%
8.21%
8.09%
8.28%
8.33%
7.97%
8.25%
7.89%
7.77%
7.46%
7.83%
8.21%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
4.95%
5.25%
4.80%
4.40%
4.46%
3.90%
3.71%
3.69%
4.03%
4.25%
2.43%
2.58%
2.51%
2.24%
2.26%
1.88%
1.79%
1.68%
1.69%
1.78%
0.19%
0.28%
0.23%
0.22%
0.25%
0.23%
0.20%
0.21%
0.23%
0.25%
2.33%
2.38%
2.05%
1.95%
1.95%
1.79%
1.71%
1.80%
2.11%
2.22%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
3.40%
4.33%
3.09%
3.79%
4.22%
4.03%
2.58%
3.28%
4.76%
2.70%
0.58%
0.63%
0.62%
0.42%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.81%
1.16%
0.99%
0.92%
1.24%
0.99%
2.00%
2.53%
1.47%
2.45%
2.98%
3.03%
2.58%
3.28%
4.76%
2.70%
25.78%
23.93%
25.08%
28.66%
29.31%
33.06%
35.99%
38.88%
28.20%
22.46%
27.96%
27.03%
25.64%
23.97%
24.46%
23.42%
22.58%
21.60%
22.65%
26.55%
48.48%
48.21%
48.45%
47.71%
51.48%
51.31%
50.10%
49.00%
51.73%
56.72%
20.52%
21.19%
22.81%
23.73%
27.03%
27.89%
27.52%
27.40%
29.07%
30.17%
0.24%
0.22%
0.18%
0.14%
0.13%
0.20%
0.14%
0.07%
0.11%
0.11%
0.24%
0.22%
0.18%
0.14%
0.13%
0.20%
0.14%
0.07%
0.11%
0.11%
46.02%
48.82%
49.10%
47.23%
46.11%
43.32%
41.29%
39.44%
49.04%
50.88%
41.77%
45.61%
44.88%
42.14%
41.20%
39.13%
37.91%
35.82%
39.45%
40.16%
21.51%
23.05%
22.74%
21.44%
21.22%
20.35%
19.64%
18.48%
19.07%
19.73%
20.26%
22.56%
22.14%
20.70%
19.98%
18.78%
18.28%
17.34%
20.38%
20.42%
5.62%
5.55%
0.00%
0.00%
0.00%
0.00%
0.44%
0.39%
0.25%
0.17%
0.07%
0.05%
0.10%
0.08%
0.07%
0.10%
0.05%
0.08%
0.07%
0.11%
0.10%
1.07%
2.01%
2.03%
2.19%
3.39%
3.81%
3.32%
2.65%
2.56%
3.10%
3.42%
2.14%
1.11%
1.96%
1.61%
0.60%
0.41%
0.41%
0.79%
0.69%
0.63%
74.22%
76.07%
74.92%
71.34%
70.69%
66.94%
64.01%
61.12%
71.80%
77.54%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
15.96%
15.88%
16.11%
15.86%
14.33%
15.31%
15.61%
15.12%
19.11%
17.29%
5.50%
5.09%
5.63%
5.98%
7.27%
7.96%
8.38%
8.43%
9.29%
10.20%
0.10%
0.26%
0.50%
1.12%
1.12%
1.12%
1.13%
3.15%
3.33%
3.33%
2.99%
3.27%
0.07%
9.23%
9.41%
8.86%
8.75%
3.91%
4.02%
3.90%
3.69%
6.54%
7.01%
7.19%
8.51%
6.45%
6.85%
7.20%
5.84%
9.38%
6.87%
5.18%
4.28%
7.02%
5.02%
2.56%
3.98%
1.39%
1.38%
3.39%
1.84%
0.09%
0.09%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.56%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.56%
0.17%
3.50%
3.89%
2.87%
5.81%
4.46%
5.99%
5.04%
5.09%
3.63%
0.17%
0.51%
0.33%
0.31%
4.13%
4.08%
3.77%
3.70%
4.22%
4.48%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.17%
0.51%
0.33%
0.31%
0.56%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
3.57%
4.08%
3.77%
3.70%
4.22%
4.48%
23.32%
24.91%
22.90%
23.02%
25.66%
25.23%
28.76%
25.69%
28.51%
26.05%
29.34%
28.22%
31.54%
31.41%
33.78%
41.93%
40.89%
42.35%
36.44%
38.53%
29.34%
28.22%
31.54%
31.41%
33.78%
41.93%
40.89%
42.35%
36.44%
37.11%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
1.42%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
1.42%
15.83%
18.20%
15.55%
14.09%
15.67%
15.57%
15.11%
18.20%
16.24%
16.49%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
3.98%
6.02%
4.65%
2.56%
3.53%
3.70%
3.82%
4.15%
3.07%
3.01%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
5.95%
6.85%
6.78%
7.73%
7.52%
7.12%
6.03%
4.06%
4.51%
5.21%
0.00%
0.00%
0.00%
0.00%
0.00%
0.78%
0.72%
0.51%
0.73%
0.60%
5.90%
5.32%
4.12%
3.80%
4.62%
3.97%
4.54%
9.47%
7.93%
7.67%
45.17%
46.42%
47.09%
45.50%
49.45%
57.50%
56.00%
60.55%
52.68%
55.02%
68.49%
71.32%
69.99%
68.52%
75.11%
82.73%
84.76%
86.24%
81.19%
81.07%
0.06%
0.06%
0.05%
0.05%
0.06%
0.06%
0.06%
0.05%
0.00%
0.00%
6.69%
6.16%
5.63%
5.32%
5.87%
5.89%
5.60%
5.04%
5.12%
4.98%
0.05%
0.04%
0.03%
0.03%
0.04%
0.03%
0.03%
0.03%
0.03%
0.03%
6.64%
6.12%
5.60%
5.29%
5.84%
5.85%
5.57%
5.01%
5.09%
4.95%
24.57%
24.52%
26.07%
27.11%
35.44%
41.89%
42.82%
41.05%
44.16%
46.81%
54.42%
55.32%
57.82%
59.91%
69.63%
72.45%
71.46%
66.21%
77.20%
78.86%
-5.55%
-8.76%
-7.57%
-6.84%
-15.39%
-19.39%
-19.20%
-16.61%
-19.47%
-18.21%
31.05%
28.25%
29.87%
31.34%
24.73%
17.11%
15.10%
13.64%
18.70%
18.82%
0.46%
0.43%
0.14%
0.14%
0.16%
0.15%
0.14%
0.12%
0.11%
0.10%
31.51%
28.68%
30.01%
31.48%
24.89%
17.27%
15.24%
13.76%
18.81%
18.93%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
FY 2010
FY 2011
FY 2012
FY 2013
FY 2014
FY 2015
FY 2016
FY 2017
FY 2018
FY 2019
12/25/2010 12/31/2011 12/29/2012 12/28/2013 12/27/2014 12/26/2015 12/31/2016 12/30/2017 12/29/2018 12/28/2019
69.48%
68.43%
84.04%
109.47%
109.47%
149.58%
154.83%
89.94%
102.97%
102.97%
146.22%
148.88%
94.10%
99.40%
99.40%
90.16%
65.43%
855.45%
94.16%
94.16%
137.62%
148.29%
112.38%
94.50%
94.50%
134.27%
100.68%
239.17%
103.86%
103.86%
120.99%
115.85%
127.75%
104.33%
104.33%
46.09%
82.20%
3.06%
102.07%
102.07%
63.81%
63.17%
84.19%
106.05%
106.05%
113.49%
113.85%
161.72%
109.25%
93.57%
99.58%
83.57%
88.26%
95.20%
92.37%
97.11%
98.43%
92.20%
91.97%
102.98%
91.25%
86.54%
82.36%
93.06%
90.56%
100.11%
100.23%
93.17%
100.88%
108.23%
102.21%
111.33%
114.15%
106.14%
97.62%
106.59%
114.07%
106.71%
106.33%
112.36%
106.41%
136.26%
116.08%
152.53%
135.54%
99.27%
103.36%
106.35%
110.43%
96.36%
96.36%
113.47%
116.78%
114.59%
119.10%
73.10%
100.87%
87.57%
59.53%
107.33%
97.15%
102.91%
110.26%
85.53%
85.53%
102.98%
100.76%
101.02%
100.49%
127.46%
69.96%
96.76%
172.52%
118.61%
97.07%
102.21%
107.99%
77.21%
77.21%
99.86%
97.48%
97.89%
97.06%
101.33%
0.00%
122.21%
110.86%
93.06%
92.83%
98.21%
103.64%
88.57%
88.57%
88.83%
88.98%
90.08%
87.84%
94.22%
67.49%
138.09%
141.28%
57.46%
78.97%
100.57%
111.46%
94.62%
98.48%
101.96%
150.54%
150.54%
92.83%
93.82%
94.73%
92.85%
89.55%
114.85%
101.68%
103.00%
104.10%
75.00%
75.00%
100.55%
102.22%
101.78%
102.69%
138.09%
117.30%
103.91%
106.21%
108.10%
56.19%
56.19%
103.74%
102.58%
102.18%
103.01%
141.28%
70.56%
102.02%
102.71%
103.24%
145.76%
145.76%
120.97%
107.18%
100.43%
114.36%
67.66%
91.07%
84.38%
104.56%
100.87%
105.49%
74.73%
166.67%
104.72%
212.42%
103.69%
108.59%
40.44%
95.29%
117.97%
84.99%
114.31%
97.30%
57.46%
80.60%
118.56%
110.92%
104.97%
98.84%
98.84%
104.95%
102.97%
104.68%
101.38%
99.89%
74.55%
1040.74%
111.37%
91.82%
109.23%
101.16%
83.33%
107.97%
55.35%
109.60%
106.94%
92.73%
110.56%
181.66%
100.86%
102.41%
145.10%
160.62%
84.99%
98.85%
103.81%
50.00%
102.52%
33.95%
90.18%
91.01%
87.62%
151.35%
85.94%
67.38%
93.56%
98.81%
106.38%
98.85%
270.42%
106.14%
109.04%
126.68%
76.41%
103.91%
113.38%
193.23%
103.08%
96.40%
77.60%
52.35%
102.19%
110.16%
82.21%
110.71%
105.55%
108.17%
107.54%
111.03%
105.18%
109.24%
122.98%
107.22%
91.54%
111.09%
104.65%
102.54%
110.20%
161.02%
253.36%
40.62%
95.67%
31.80%
104.37%
101.63%
80.20%
98.16%
105.39%
102.39%
169.30%
258.94%
97.79%
102.76%
79.59%
58.81%
106.32%
172.47%
73.40%
4.98%
2.28%
108.42%
83.51%
98.63%
2255.75%
328.95%
113.81%
65.87%
76.66%
98.38%
184.17%
1198.35%
75.90%
97.60%
141.56%
97.61%
91.34%
106.49%
98.33%
110.93%
72.05%
107.38%
328.95%
65.87%
98.38%
161.73%
97.61%
120.24%
102.88%
102.88%
106.49%
97.00%
112.45%
112.45%
110.93%
107.98%
83.72%
83.72%
107.38%
92.42%
106.97%
103.01%
114.23%
102.85%
102.85%
94.13%
114.47%
114.47%
104.39%
103.35%
103.35%
101.42%
97.90%
97.90%
0.00%
112.82%
97.16%
122.64%
122.64%
122.95%
87.52%
94.06%
101.20%
98.17%
102.37%
130.82%
86.84%
102.69%
161.97%
78.96%
57.28%
125.28%
103.54%
108.93%
118.03%
72.01%
99.25%
123.12%
101.36%
118.23%
88.61%
93.50%
96.44%
109.89%
111.37%
100.00%
98.44%
83.87%
98.54%
106.72%
108.70%
168.94%
97.28%
99.68%
97.31%
106.94%
79.38%
103.90%
100.49%
100.00%
93.69%
100.00%
93.66%
108.89%
107.05%
88.49%
108.29%
33.76%
107.18%
102.41%
95.74%
100.28%
101.63%
100.00%
98.00%
96.15%
98.01%
107.95%
107.56%
93.75%
108.90%
104.76%
108.88%
103.81%
110.56%
98.92%
99.76%
100.00%
100.49%
100.00%
100.49%
118.95%
105.76%
204.79%
71.82%
100.00%
71.95%
91.01%
85.01%
114.88%
108.83%
100.00%
99.03%
96.00%
99.05%
116.81%
102.81%
124.47%
68.37%
97.27%
68.55%
98.81%
89.41%
97.42%
120.45%
102.74%
108.07%
100.00%
100.37%
100.00%
100.37%
107.82%
104.05%
104.49%
93.06%
97.20%
93.09%
105.49%
73.12%
77.50%
226.78%
117.41%
110.49%
100.00%
97.69%
100.00%
97.68%
104.10%
100.61%
93.93%
98.14%
88.46%
98.05%
108.59%
107.93%
138.54%
81.48%
84.66%
91.61%
0.00%
98.91%
95.83%
98.92%
104.67%
113.45%
114.07%
133.33%
91.30%
132.98%
97.30%
116.92%
82.75%
97.78%
105.65%
101.00%
Valor Máximo 2255.75%
Valor Mínimo
0.00%
+ Porción corriente de deuda a LP FY 2011
98.31%
100.00%
98.31%
107.24%
103.33%
94.58%
101.85%
97.62%
101.82%
101.16%
PepsiCo Inc (PEP US) - Estandarizado
En Millones de USD excepto por acción
12 meses fin
Efectivo de actividades operacionales
+ Ingreso neto
+ Depreciación + amortización
+ Partidas no monetarias
+ Compensación en acciones
+ Impuestos al ingreso diferidos
+ Otros ajustes no en efectivo
+ Var en fondo de maniobra no en efectivo
+ (Inc) dec en cuentas por cobrar
+ (Aum) baja en inventarios
+ Aum (baja) de otros
+ Efectivo neto de ops disc
Efectivo de actividades operacionales
FY 2011
12/31/2011
FY 2012
12/29/2012
FY 2013
12/28/2013
FY 2014
12/27/2014
FY 2015
12/26/2015
FY 2016
12/31/2016
FY 2017
12/30/2017
FY 2018
12/29/2018
FY 2019
12/28/2019
Últ 12M
12/28/2019
6,443.0
2,737.0
608.0
256.0
495.0
-143.0
-844.0
-666.0
-331.0
153.0
0.0
8,944.0
6,178.0
2,689.0
-622.0
154.0
321.0
-1,097.0
234.0
-250.0
144.0
340.0
0.0
8,479.0
6,740.0
2,663.0
-324.0
186.0
-1,058.0
548.0
609.0
-88.0
4.0
693.0
0.0
9,688.0
6,513.0
2,625.0
209.0
183.0
-19.0
45.0
1,159.0
-343.0
-111.0
1,613.0
0.0
10,506.0
5,452.0
2,416.0
1,720.0
162.0
78.0
1,480.0
992.0
-461.0
-244.0
1,697.0
0.0
10,580.0
6,329.0
2,368.0
1,070.0
284.0
452.0
334.0
896.0
-349.0
-75.0
1,320.0
0.0
10,663.0
4,857.0
2,369.0
3,291.0
292.0
619.0
2,380.0
-487.0
-202.0
-168.0
-117.0
0.0
10,030.0
12,515.0
2,399.0
-6,296.0
256.0
-531.0
-6,021.0
797.0
-253.0
-174.0
1,224.0
0.0
9,415.0
7,314.0
2,432.0
382.0
237.0
453.0
-308.0
-479.0
-650.0
-190.0
361.0
0.0
9,649.0
7,314.0
2,432.0
382.0
237.0
453.0
-308.0
-479.0
-650.0
-190.0
361.0
0.0
9,649.0
Efectivo de actividades de inversión
+ Cambio en fijos e intangibles
+ Desp en fijos e intangibles
+ Desp de activos fijos prod
+ Desp de activos intangibles
+ Adq de fijos e intangibles
+ Adq de activos fijos prod
+ Adq de activos intangibles
+ Cambio neto en inversiones LP
+ Dec en inversiones LP
+ Inc en inversiones LP
+ Efectivo neto de adq y div
+ Efectivo por despojos
+ Efectivo para adq de subs
+ Efectivo para JVs
+ Otras actividades de inversión
+ Efectivo neto de ops disc
Efectivo de actividades de inversión
-3,255.0
84.0
84.0
0.0
-3,339.0
-3,339.0
0.0
0.0
0.0
0.0
-2,249.0
780.0
-3,029.0
0.0
-114.0
0.0
-5,618.0
-2,619.0
95.0
95.0
0.0
-2,714.0
-2,714.0
0.0
0.0
0.0
0.0
-459.0
-32.0
-427.0
0.0
73.0
0.0
-3,005.0
-2,686.0
109.0
109.0
0.0
-2,795.0
-2,795.0
0.0
0.0
0.0
0.0
21.0
133.0
-112.0
0.0
40.0
0.0
-2,625.0
-2,744.0
115.0
115.0
0.0
-2,859.0
-2,859.0
0.0
0.0
0.0
0.0
115.0
203.0
-88.0
0.0
-2,308.0
0.0
-4,937.0
-2,672.0
86.0
86.0
0.0
-2,758.0
-2,758.0
0.0
0.0
0.0
0.0
-10.0
76.0
-86.0
0.0
-887.0
0.0
-3,569.0
-2,941.0
99.0
99.0
0.0
-3,040.0
-3,040.0
0.0
0.0
0.0
0.0
-127.0
85.0
-212.0
0.0
-4,082.0
0.0
-7,150.0
-2,789.0
180.0
180.0
0.0
-2,969.0
-2,969.0
0.0
0.0
0.0
0.0
206.0
267.0
-61.0
0.0
-1,820.0
0.0
-4,403.0
-3,148.0
134.0
134.0
0.0
-3,282.0
-3,282.0
0.0
0.0
0.0
0.0
-991.0
505.0
-1,496.0
0.0
8,703.0
0.0
4,564.0
-4,062.0
170.0
170.0
0.0
-4,232.0
-4,232.0
0.0
0.0
0.0
0.0
-2,464.0
253.0
-2,717.0
0.0
89.0
0.0
-6,437.0
-4,062.0
170.0
170.0
0.0
-4,232.0
-4,232.0
0.0
0.0
0.0
0.0
-2,464.0
253.0
-2,717.0
0.0
89.0
0.0
-6,437.0
Efectivo de actividades de financiación
+ Dividendos pagados
+ Efectivo de (pagos) deuda
+ Efectivo de (pagos) deuda CP
+ Efectivo de deuda a LP
+ Pagos de préstamos a LP
+ Efectivo (recompra) de acciones
+ Aumento en capital
+ Baja en capital
+ Otras actividades de financiación
+ Efectivo neto de ops disc
Efectivo de actividades de financiación
-3,157.0
936.0
303.0
3,000.0
-2,367.0
-1,481.0
1,015.0
-2,496.0
-1,433.0
0.0
-5,135.0
-3,305.0
2,089.0
-1,461.0
5,999.0
-2,449.0
-1,980.0
1,246.0
-3,226.0
-110.0
0.0
-3,306.0
-3,434.0
1,466.0
1,165.0
4,195.0
-3,894.0
-1,768.0
1,240.0
-3,008.0
-53.0
0.0
-3,789.0
-3,730.0
-331.0
-1,997.0
3,855.0
-2,189.0
-4,153.0
869.0
-5,022.0
-50.0
0.0
-8,264.0
-4,040.0
4,632.0
25.0
8,702.0
-4,095.0
-4,368.0
637.0
-5,005.0
-52.0
0.0
-3,828.0
-4,227.0
3,746.0
1,537.0
7,818.0
-5,609.0
-2,672.0
335.0
-3,007.0
-58.0
0.0
-3,211.0
-4,472.0
2,050.0
-1,053.0
7,509.0
-4,406.0
312.0
317.0
-5.0
-76.0
0.0
-2,186.0
-4,930.0
-6,962.0
-1,366.0
0.0
-5,596.0
-1,824.0
178.0
-2,002.0
-53.0
0.0
-13,769.0
-5,304.0
-355.0
-1,006.0
4,621.0
-3,970.0
-2,785.0
215.0
-3,000.0
-45.0
0.0
-8,489.0
-5,304.0
-355.0
-1,006.0
4,621.0
-3,970.0
-2,785.0
282.0
-3,067.0
-45.0
0.0
-8,489.0
Efecto de los tipos de cambio
-67.0
62.0
-196.0
-546.0
-221.0
-252.0
47.0
-98.0
78.0
78.0
Cambios netos en el efectivo
-1,876.0
2,230.0
3,078.0
-3,241.0
2,962.0
50.0
3,488.0
112.0
-5,199.0
-5,199.0
2,218.0
1,039.0
1,840.0
1,074.0
3,076.0
1,007.0
1,847.0
925.0
1,808.0
952.0
1,393.0
1,102.0
1,962.0
1,123.0
1,203.0
1,388.0
2,226.0
1,076.0
Referencia
EBITDA
12,370.0
Margen EBITDA últimos 12M
18.60
Efectivo neto desembolsado por adquisiciones 3,029.0
Beneficio de impuesto de opciones de acciones
70.0
Flujo de caja libre
5,605.0
Flujo de caja libre a empresa
6,231.2
Flujo libre de caja a capital
6,624.0
Flujo libre de caja por acción
3.56
Precio a flujo de caja libre
18.66
Flujo de caja a beneficio neto
1.39
Fuente: Bloomberg
11,801.0
18.02
427.0
124.0
5,765.0
6,437.7
7,948.0
3.70
18.37
1.37
12,368.0
18.62
112.0
117.0
6,893.0
7,588.4
8,467.0
4.47
18.49
1.44
12,206.0
18.30
88.0
114.0
7,647.0
8,327.7
7,430.0
5.07
19.15
1.61
10,769.0
17.08
86.0
133.0
7,822.0
8,539.0
12,539.0
5.32
18.88
1.94
12,172.0
19.38
212.0
-130.0
7,623.0
8,623.9
11,467.0
5.30
19.75
1.68
12,645.0
19.91
61.0
-145.0
7,061.0
7,649.3
9,291.0
4.96
24.20
2.07
12,509.0
19.35
1,496.0
-103.0
6,133.0
—
-736.0
4.33
25.46
0.75
13,197.0
19.65
2,717.0
-114.0
5,417.0
6,313.2
5,232.0
3.87
35.52
1.32
Efectivo pagado por impuestos
Efectivo pagado en intereses
13,300.0
19.80
2,717.0
5,417.0
6,312.9
5,232.0
3.87
37.79
2.60
Razones Financieras
Pepsi
FY 2011
12/29/2011
FY 2012
12/29/2012
FY 2013
12/29/2013
FY 2014
12/29/2014
FY 2015
12/29/2015
FY 2016
12/29/2016
FY 2017
12/29/2017
FY 2018
12/29/2018
FY 2019
12/29/2019
96.07%
74.99%
57.62%
---
109.54%
88.59%
75.10%
---
124.46%
105.35%
88.88%
23.25
114.21%
96.84%
80.38%
14.08
131.02%
115.55%
99.59%
2.21 -
125.15%
112.26%
103.31%
7.81 -
151.34%
136.96%
124.21%
12.23 -
98.89%
84.76%
68.08%
15.03 -
86.24%
69.92%
59.55%
19.18
128.11%
248.73%
36.73%
71.32%
126.61%
233.22%
38.00%
69.99%
121.53%
217.68%
38.25%
68.52%
164.67%
301.81%
40.98%
75.11%
276.67%
479.11%
47.78%
82.73%
329.90%
556.22%
50.27%
84.76%
357.72%
626.75%
49.22%
86.24%
221.35%
431.76%
41.63%
81.19%
226.18%
428.30%
42.81%
81.07%
---33.41%
---29.90%
9.76 x
32.69%
9.63 x
36.36%
7.67 x
31.79%
6.37 x
28.86%
8.34 x
25.53%
6.03 x
29.13%
8.20 x
28.69%
---------------
---------------
10.72 x
34.05 días
8.92 x
40.94 días
87.32%
7.05 x
51.74 días
11.12 x
32.83 días
9.53 x
38.32 días
90.12%
6.40 x
57.07 días
11.15 x
32.75 días
9.81 x
37.22 días
89.97%
5.39 x
67.75 días
11.21 x
32.57 días
10.40 x
35.10 días
87.73%
4.84 x
75.48 días
10.89 x
33.51 días
10.15 x
35.94 días
82.88%
4.47 x
81.68 días
10.75 x
33.97 días
9.64 x
37.85 días
82.13%
4.20 x
86.84 días
10.72 x
34.04 días
9.29 x
39.28 días
86.00%
3.95 x
92.50 días
----------26%
278,000
--------3.41 x
---
53.08%
15.15%
13.39%
10.16%
14.59%
32%
274,000
$242,391
8.87%
8.87%
28.84%
3.25 x
28.84%
53.42%
15.53%
13.19%
9.75%
15.76%
-31%
271,000
$246,063
8.79%
8.79%
31.01%
3.53 x
31.01%
51.66%
15.15%
11.21%
8.64%
16.78%
28%
263,000
$239,757
7.77%
7.77%
36.82%
4.74 x
36.82%
51.94%
15.68%
12.88%
10.07%
16.98%
0%
264,000
$237,875
8.83%
8.83%
54.44%
6.16 x
54.44%
52.30%
15.79%
14.46%
7.64%
15.79%
35%
263,000
$241,540
6.33%
6.33%
43.76%
6.91 x
43.76%
53.25%
15.99%
13.84%
19.35%
14.56%
1%
267,000
$242,176
15.89%
15.89%
97.82%
6.15 x
97.82%
55.89%
15.96%
14.02%
10.89%
14.37%
-54%
267,000
$251,539
9.37%
9.37%
49.64%
5.30 x
49.64%
FY 2013
12/29/2013
FY 2014
12/29/2014
FY 2015
12/29/2015
FY 2016
12/29/2016
FY 2017
12/29/2017
FY 2018
12/29/2018
FY 2019
12/29/2019
23.25
34.05 días
40.94 días
51.74 días
14.08
32.83 días
38.32 días
57.07 días
2.21 7.81 12.23 15.03 19.18
32.75 días
32.57 días
33.51 días
33.97 días
34.04 días
37.22 días
35.10 días
35.94 días
37.85 días
39.28 días
67.75 días
75.48 días
81.68 días
86.84 días
92.50 días
FY 2016
12/29/2016
FY 2017
12/29/2017
FY 2018
12/29/2018
FY 2019
12/29/2019
54.44%
10.07%
87.73%
6.16 x
43.76%
7.64%
82.88%
6.91 x
97.82%
19.35%
82.13%
6.15 x
49.64%
10.89%
86.00%
5.30 x
FY 2017
FY 2018
FY 2019
52.30%
15.79%
14.46%
7.64%
53.25%
15.99%
13.84%
19.35%
55.89%
15.96%
14.02%
10.89%
62.038%
26.771%
19.024%
3.446%
61.795%
29.915%
23.986%
18.763%
60.771%
27.065%
28.943%
23.936%
LIQUIDEZ (Efectivo)
Razón Corriente
Prueba Ácida Rápida
Prueba Ácida Extendida
Ciclo de Conversión de Efectivo
APALANCAMIENTO (DEUDA)
Deuda a Capital
Pasivos a Capital
Deuda a Activos
Apalacamiento
COBERTURAS (DEUDA)
Cobertura de Interés
Razón de Cobertura
MANEJO DE ACTIVOS + PASIVOS
Rotación CxC**
Rotación CxC en Días
Rotación de Inventarios**
Rotación de Inventarios en Días
Rotación de Activos Totales**
Rotación CxP**
Rotación CxP en Días
RENTABILIDAD
Margen Bruto
--Margen Operativo
--Margen Antes de Impuestos
--Margen Neto
--Flujo Operativo a Ventas
--Flujo de Efectivo Neto a Flujo Operativo
-21%
Empleados
297,000
Ventas por Empleado
--Rendimiento Sobre Activos (ROA en Inglés)**
--ROA de 2 componentes
--Rendimiento Sobre el Capital (ROE en inglés)
--Multiplicador de Capital
3.33 x
Dupont
--** Promedio de las Cuentas
Razones Financieras
Pepsi
Ciclo de Conversión de Efectivo
Rotación CxC en Días
Rotación de Inventarios en Días
Rotación CxP en Días
Razones Financieras
Pepsi
Razón Corriente
Prueba Ácida Rápida
Prueba Ácida Extendida
Razones Financieras
Pepsi
Rendimiento Sobre el Capital (ROE)
Margen Neto
Rotación de Activos Totales**
Multiplicador de Capital
Razones Financieras
Pepsi
Margen Bruto
Margen Operativo
Margen Antes de Impuestos
Margen Neto
Razones Financieras
FY 2012
12/29/2012
109.54%
88.59%
75.10%
FY 2018
12/29/2018
53.25%
15.99%
13.84%
19.35%
FY 2016
Pepsi
Margen Bruto
Margen Operativo
Margen Antes de Impuestos
Margen Neto
51.94%
15.68%
12.88%
10.07%
Coca Cola
Margen Bruto
Margen Operativo
Margen Antes de Impuestos
Margen Neto
60.307%
23.792%
19.439%
15.595%