| Intrinsic Valuation of: PEP | |||||||||||
| Free Cash Flow Average and Growth over past 5Y | Key Statistics | ||||||||||
| Year | FCF | FCF (FCF/Revenue) | |||||||||
| 2020 | - | - | EPS (FY) | 6 | Market Cap | $204B | |||||
| 2021 | - | - (-) | P/E Ratio | 23 | Total Asset | $107B | |||||
| 2022 | $6B | - (-) | Net Income | $8B | Total Debt | $42B | |||||
| 2023 | $8B | 41.4% (33.5%) | EBITDA | $16B | Total Liab | $87B | |||||
| 2024 | $7B | -9.3% (-9.7%) | Opr Margin | 14.36 | Debt/Equity | 2.06 | |||||
| 2025 | $8B | 6.7% (4.4%) | PreTax Margin | 13.17 | BV/Share | -10 | |||||
| 5Y Average FCF | $7B | 6.9% (9.4%) | |||||||||
| Overall Market Assumptions: | |||||||||||
| Assumptions: | P/E for No-Growth Company: | 7.0 | |||||||||
| Perpetual Growth Rate (g): | 2.48% | Historical US Bond Yield: | 4.40% | ||||||||
| Discount Rate (WACC): | 7.00% | Current US Bond Yield: | 3.48% | ||||||||
| Forcasting Future Free Cash Flow for next 6Y | Modified Benjamin Graham's Intrinsic Value | ||||||||||
| Year | FCF Projection (6.9%) | ||||||||||
| 2026 | $8B | MBG Intrinsic Value | $57 | ||||||||
| 2027 | $8B | ||||||||||
| 2028 | $9B | ||||||||||
| 2029 | $9B | ||||||||||
| 2030 | $10B | ||||||||||
| 2031 | $10B | ||||||||||
| Terminal Value | $224B | Net Worth/Share | $15 | ||||||||
| DCF Valuation | DCF Valuation "What If" Scenario Table | ||||||||||
| Enterprise Value | $192B | Growth Rate | |||||||||
| (+) Cash & Cash Equivalents | $9B | $116 | 1.5% | 2.0% | 2.5% | 3.0% | 3.5% | ||||
| (-) Total Debt | $42B | WACC | 6.5% | 108 | 119 | 134 | 152 | 177 | |||
| Equity Value | $159B | 7.1% | 93 | 102 | 112 | 126 | 143 | ||||
| Shares Outstanding | 1,366,768,315 | 7.8% | 81 | 88 | 96 | 106 | 118 | ||||
| 8.4% | 71 | 77 | 83 | 91 | 100 | ||||||
| DCF Intrinsic Value | $116 | 9.0% | 63 | 68 | 73 | 79 | 86 | ||||
| Analyzed by QuantJuice (2025) | |||||||||||