| Intrinsic Valuation of: PEP | |||||||||||
| Free Cash Flow Average and Growth over past 5Y | Key Statistics | ||||||||||
| Year | FCF | FCF (FCF/Revenue) | |||||||||
| 2020 | - | - | EPS (FY) | 7 | Market Cap | $185B | |||||
| 2021 | - | - (-) | P/E Ratio | 20 | Total Asset | $99B | |||||
| 2022 | $7B | - (-) | Net Income | $10B | Total Debt | $37B | |||||
| 2023 | $6B | -19.8% (-26.3%) | EBITDA | $17B | Total Liab | $81B | |||||
| 2024 | $8B | 41.4% (33.5%) | Opr Margin | 0.14 | Debt/Equity | 2.05 | |||||
| 2025 | $7B | -9.3% (-9.7%) | PreTax Margin | 13.07 | BV/Share | -10 | |||||
| 5Y Average FCF | $7B | 4.1% (-0.8%) | |||||||||
| Overall Market Assumptions: | |||||||||||
| Assumptions: | P/E for No-Growth Company: | 7.0 | |||||||||
| Perpetual Growth Rate (g): | 2.5% | Historical US Bond Yield: | 4.4% | ||||||||
| Discount Rate (WACC): | 7.4% | Current US Bond Yield: | 3.5% | ||||||||
| Forcasting Future Free Cash Flow for next 6Y | Modified Benjamin Graham's Intrinsic Value | ||||||||||
| Year | FCF Projection (4.1%) | ||||||||||
| 2026 | $7B | MBG Intrinsic Value | $61 | ||||||||
| 2027 | $8B | ||||||||||
| 2028 | $8B | ||||||||||
| 2029 | $8B | ||||||||||
| 2030 | $9B | ||||||||||
| 2031 | $9B | ||||||||||
| Terminal Value | $190B | Net Worth/Share | $13 | ||||||||
| DCF Valuation | DCF Valuation "What If" Scenario Table | ||||||||||
| Enterprise Value | $162B | Growth Rate | |||||||||
| (+) Cash & Cash Equivalents | $9B | $97 | 1.5% | 2.0% | 2.5% | 3.0% | 3.5% | ||||
| (-) Total Debt | $37B | WACC | 7.3% | 83 | 91 | 100 | 111 | 125 | |||
| Equity Value | $134B | 7.4% | 82 | 90 | 99 | 110 | 123 | ||||
| Shares Outstanding | 1,371,079,936 | 7.4% | 82 | 89 | 97 | 108 | 122 | ||||
| 7.9% | 73 | 79 | 86 | 95 | 105 | ||||||
| DCF Intrinsic Value | $97 | 8.4% | 67 | 72 | 77 | 84 | 93 | ||||
| Analyzed by QuantJuice (2025) | |||||||||||