Ebit Eps Analysis Excel Chart - Excel

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Analyst: Nic Millard

       January 30, 2011                                                                                     Pepsico INC (PEP)                                                                                                 HOLD
Stock Data
Last Price                               #NAME?                                        EPS:             #NAME?
52-Week High                             #NAME?                                        Div. Yield       #NAME?
52-Week Low                              #NAME?                                        Beta                 1.02
P/E (Current Trailing)                   #NAME?                                        Market Cap.      #NAME? millions
P/S (Year-end)                           #NAME?                                        Shares Out.      #NAME? millions
P/B (Year-end)                           #NAME?                                        Instit. Owner:     79.10%
P/OCF (Year-end)                         #NAME?                                      First Purchase:      12/4/98              Ave. Purchase Price: $36.48
P/FCF (Year-end)                         #NAME?                                                 Cost:   $ 16,414                     Market Value: #NAME?
EPS Growth Rate(5-Yr Avg.)                  18.64%                                 Number of Shares:          450                    Price Change: #NAME?

Historical Statistics(millions)                            Current Year
                                           YTD              Q3         Q2        Q1        Dec-05       Dec-04      Dec-03      Dec-02    Dec-01 Ann.Grth.
Sales                                       8,599.0                             8,599.0      32,562.0    29,261.0   26,971.0     25,112.0 26,935.0    4.9%
Net Income-Current Operations               1,358.0                             1,358.0       4,078.0     4,212.0    3,568.0      3,000.0  2,183.0   16.9%
Net Income-Total Operations                 1,358.0                             1,358.0       4,078.0     4,212.0    3,568.0      3,000.0  2,183.0   16.9%
Operating Cash Flow                         1,830.0                             1,830.0          5852        5054       4328         4627     4187    8.7%
Free Cash Flow                               (175.0)                             (175.0)         1379        2274       1842         1798     1786   -6.3%
Equity                                     14,812.0                             14,812.0     14,320.0    13,572.0   11,896.0      9,298.0  8,764.0   13.1%
LT Debt                                     2,288.0                              2,288.0      2,313.0     2,397.0    1,702.0      2,178.0  2,651.0   -3.4%
Total Assets                               30,994.0                             30,994.0     31,727.0    27,987.0   25,327.0     23,474.0 21,695.0   10.0%
Shares Out.                              #NAME?                                     1656      1,656.0  1,679.0 1,705.0           1,722.0 1,756.0     -1.5%
Market Cap.                              #NAME?                                96,230.2     14,108.3 101,999.3 81,038.7         79,556.4 95,368.4   -38.0%
                                                                                                                                                                          CNNMoney Snapshot and Company Information
Per Share Data                             YTD             Q3         Q2         Q1        Dec-05       Dec-04      Dec-03      Dec-02 Dec-01 Ann.Grth.        PepsiCo, Inc. is a global snack and beverage company. It manufactures,
Sales                                    #NAME?                                    5.19        19.66      17.43       15.82        14.58  15.34   6.4%         markets and sells a range of salty, convenient, sweet and grain-based snacks,
Earnings (Current Operations)            #NAME?                                    0.82         2.46        2.51       2.09         1.74   1.24  18.6%         carbonated and non-carbonated beverages, and foods. The Company is
Earnings (Total Operations)              #NAME?                                    0.82         2.46        2.51       2.09         1.74   1.24  18.6%         organized in four divisions: Frito-Lay North America, PepsiCo Beverages North
Operating Cash Flow                             1.11                               1.11         3.53        3.01       2.54         2.69   2.38  10.3%         America, PepsiCo International and Quaker Foods North America. Its North
Free Cash Flow                                 -0.11                              -0.11         0.83        1.35       1.08         1.04   1.02  -4.9%         American divisions operate in the United States and Canada. Its international
Bk Value                                 #NAME?                                    8.94         8.65        8.08       6.98         5.40   4.99  14.7%         divisions operate in over 200 countries, with its largest operations in Mexico and
Dividends                                       0.61                                0.61         0.63        0.85      0.63           0.6   0.57  2.5%
                                                                                                                                                               the United Kingdom. The Company's products are brought to market through
Stk.Price                                #NAME?                                    58.11       51.49       60.75      47.53        46.20  54.31  -1.3%
                                                                                                                                                               direct store delivery, broker warehouse, and food service and vending
Return(%)                                #NAME?                                  -4.35%     -15.24%      27.81%      2.88%      -14.93%
                                                                                                                                                               distribution networks.
Financial Ratios                            YTD            Sep-05     Jun-05     Mar-05       Dec-05      Dec-04    Dec-03       Dec-02     Dec-01 Average
Gross Profit Margin                               0.43                             0.43          0.42       0.26      0.24         0.21       0.19      0.23
Net Profit Margin                                 0.10                             0.10          0.18       0.14      0.13         0.12       0.08      0.12
Asset Turnover                                    0.28                             0.28         1.03        1.05      1.06         1.07       1.24      1.11
Equity Multiplier                                 2.09                             2.09         2.22        2.06      2.13         2.52       2.48      2.30
Return on Assets                                  0.04                             0.04         0.13        0.15      0.14         0.13       0.10      0.13
Return on Equity                                  0.09                             0.09         0.28        0.31      0.30         0.32       0.25      0.30
Long Term D/E                                     0.07                             0.07         0.07        0.09      0.07         0.09       0.12      0.09

Annual Growth Rates Per Share                                                                 Dec-05      Dec-04    Dec-03       Dec-02     Dec-01 Average     Projections                2006                             Current
Sales                                                                                           0.13        0.10      0.08        -0.05                 0.07                              Naïve                       Analyst Consensus
Earnings                                                                                       -0.02        0.20      0.20         0.40                 0.27                      Low       High    Average      Low       High      Average
Bk Value                                                                                       -0.02        0.20      0.20         0.40                 0.27   Sales/Sh          18.32      18.77    18.54      20.91     21.26        21.09
Operating Cash Flow                                                                             0.07        0.16      0.29         0.08                 0.18   EPS               2.88        3.07     2.98       0.86      0.86         0.86
Free Cash Flow                                                                                  0.17        0.19     -0.06         0.13                 0.09
Dividends                                                                                      -0.39        0.25      0.03         0.03                 0.10                     Projected Annual Growth Rates Per Share (%)
Stk.Price                                                                                      -0.26        0.35      0.05         0.05                 0.15                              Naïve                     Analyst Consensus
                                                                                                                                                                                 Low         High  Average    Low        High      Average
Industry Ratios %                                                                             Dec-05      Dec-04    Dec-03       Dec-02     Dec-01 Average     Sales            5.12%       7.69%   6.41%    20.00%    22.00%       21.00%
Net Profit Margin                                                                              16.72       16.72     15.52        13.49      12.35     14.52   Earnings         14.91%     22.36% 18.64% 11.00%        17.00%       14.00%
Asset Turnover                                                                                  5.10        5.10      4.70         4.50       4.30      4.65
Return on Equity                                                                               28.81       28.81     29.32        29.09      27.69     28.73
Return on Assets                                                                               17.10       17.10     17.32        16.63      15.76     16.70
Long Term D/E                                                                                   0.40        0.40      0.34         0.34       0.34      0.36                        Analyst Recommendations
                                                                                                                                                                              St. Buy (1)   Buy (2) Hold (3) Sell (4)   St. Sell (5)
Market Multiples                            1/30/11                                           Dec-05      Dec-04    Dec-03       Dec-02     Dec-01 Ann.Grth.   Current             8          4        1       0             0
P/E (Trailing EPS)                       #NAME?                                                20.91       24.22     22.71        26.52      43.69   29.28%    1 Mn Ago            8          4        1       0             0
P/S (Year-end sales)                     #NAME?                                                 2.62        3.49      3.00         3.17       3.54    3.30%    2 Mns Ago           8          4        1       0             0
P/B (Year-end book)                      #NAME?                                                 5.95        7.52      6.81         8.56      10.88    8.44%    3 Mns Ago           6          4        3       0             0
P/OCF (Year-end OCF)                     #NAME?                                                14.57       20.18     18.72        17.19      22.78   19.72%
P/FCF (Year-end FCF)                     #NAME?                                                61.83       44.85     43.99        44.25      53.40   46.62%
Sources: MSN Money, Yahoo, Reuters, Edgarscan, CNN Money
PepsiCo, Inc.(NYSE:PEP)
Income Statement     | Balance Sheet | Cash Flow Statement
Annual Statement | Show
Quarterly
All amounts in millions except per share       2005        2004        2003        2002
amounts.                                     Dec-05      Dec-04      Dec-03      Dec-02


Operating Activities
 Net Income (Loss)                         4,078.00    4,212.00    3,568.00    3,000.00
 Depreciation                              1,308.00    1,264.00    1,221.00    1,112.00
 Amortization                                     0           0           0           0
 Amortization of Intangibles                      0           0           0           0
 Deferred Income Taxes                          440        -203        -323         174
 Operating (Gains) Losses                      -390         118        -307        -506
 Extraordinary (Gains) Losses                     0           0           0           0

  (Increase) Decrease in Receivables           -272        -130        -220        -260

  (Increase) Decrease in Inventories           -132        -100         -49         -53
  (Increase) Decrease in Prepaid
Expenses                                        -56         -31          23         -78
  (Increase) Decrease in Other
Current Assets                                    0           0           0           0
  (Increase) Decrease in Payables               188         216         -11         426
  (Increase) Decrease in Other Curr
Liabs.                                          609        -268         182         270
  (Increase) Decrease in Other
Working Capital                                   0           0           0           0
  Other Non-Cash Items                           79         -24         244         542
  Net Cash from Continuing
Operations                                 5,852.00    5,054.00    4,328.00    4,627.00
  Net Cash from Discontinued
Operations                                        0           0           0           0



Net Cash from Operating Activities         5,852.00    5,054.00    4,328.00    4,627.00



Investing Activities

 Sale of Property, Plant, Equipment              88          38          49         465
 Sale of Long Term Investments                  214           0           0           0
 Sale of Short Term Investments                  84          38          28         833
 Purchase of Property, Plant,
Equipment                                  -1,736.00   -1,387.00   -1,345.00   -1,437.00
 Acquisitions                              -1,095.00         -64         -71        -351

  Purchase of Long Term Investments               0           0           0         -62
  Purchase of Short Term
Investments                             -1,075.00   -1,007.00       -978         -14
  Other Investing Changes Net                   3          52         46          39

 Cash from Disc. Investing Activities          0           0           0           0



Net Cash from Investing Activities      -3,517.00   -2,330.00   -2,271.00       -527



Financing Activities
  Issuance of Debt                       1,958.00    1,776.00         180         758
  Issuance of Capital Stock              1,099.00         965         689         456
  Repayment of Debt                          -262        -672        -756   -1,162.00
  Repurchase of Capital Stock           -3,031.00   -3,055.00   -1,945.00   -2,190.00
  Payment of Cash Dividends             -1,642.00   -1,329.00   -1,070.00   -1,041.00
  Other Financing Charges, Net                  0           0           0           0

 Cash from Disc. Financing Activities          0           0           0           0


Net Cash from Financing Activities      -1,878.00   -2,315.00   -2,902.00   -3,179.00


 Effect of Exchange Rate Changes             -21          51          27          34

Net Change in Cash & Cash
Equivalents                                  436         460        -818         955

Cash at Beginning of Period             1,280.00         820    1,638.00         683
Cash at End of Period                   1,716.00    1,280.00         820    1,638.00
Income Statement     | Balance Sheet | Cash Flow Statement
Annual Statement | Show Quarterly
                                                         2005        2004        2003        2002
All amounts in millions except per share amounts.      Dec-05      Dec-04      Dec-03      Dec-02


Assets
   Cash and Equivalents                              1,716.00    1,280.00         820    1,638.00
   Restricted Cash                                          0           0           0           0
   Marketable Securities                             3,166.00    2,165.00    1,181.00         207
     Accounts Receivable                             3,261.00    2,999.00    2,830.00    2,531.00
     Loans Receivable                                       0           0           0           0
     Other Receivable                                       0           0           0           0
   Receivables                                       3,261.00    2,999.00    2,830.00    2,531.00
     Raw Materials                                        738         665         618         525
     Work In Progress                                     112         156         160         214
     Purchased Components                                   0           0           0           0
     Finished Goods                                       843         720         634         603
     Other Inventories                                      0           0           0           0
     Inventories -Adj Allowances                            0           0           0           0
   Inventories                                       1,693.00    1,541.00    1,412.00    1,342.00
   Prepaid Expenses                                       618         654         687         695
   Current Deferred Income Taxes                            0           0           0           0
   Other Current Assets                                     0           0           0           0
 Total Current Assets                               10,454.00    8,639.00    6,930.00    6,413.00

    Gross Fixed Assets (Plant, Prop. & Equip.)      17,145.00   15,930.00   14,755.00   13,395.00
    Accumulated Depreciation & Depletion             8,464.00    7,781.00    6,927.00    6,005.00
  Net Fixed Assets                                   8,681.00    8,149.00    7,828.00    7,390.00
  Intangibles                                        1,616.00    1,531.00    5,383.00    5,219.00
  Cost in Excess                                     4,088.00    3,909.00           0           0
  Non-Current Deferred Income Taxes                         0           0           0           0
  Other Non-Current Assets                           6,888.00    5,759.00    5,186.00    4,452.00
  Total Non Current Assets                          21,273.00   19,348.00   18,397.00   17,061.00

Total Assets                                        31,727.00   27,987.00   25,327.00   23,474.00



Liabilities
   Accounts Payable                                  5,971.00    5,599.00    5,213.00    4,998.00
   Notes Payable                                            0           0           0           0
   Short Term Debt                                   2,889.00    1,054.00         591         562
   Accrued Expenses                                         0           0           0           0
   Accrued Liabilities                                      0           0           0           0
   Deferred Revenues                                        0           0           0           0
   Current Deferred Income Taxes                            0           0           0           0
   Other Current Liabilities                              546          99         611         492
  Total Current Liabilities                          9,406.00    6,752.00    6,415.00    6,052.00
   Long Term Debt                                    2,313.00    2,397.00    1,702.00    2,187.00
   Capital Lease Obligations                                0           0           0           0
  Deferred Income Taxes                       1,434.00    1,216.00    1,261.00    1,718.00
  Other Non-Current Liabilities               4,323.00    4,099.00    4,075.00    4,226.00
  Minority Interest                                  0           0           0           0
  Preferred Securities of Subsidiary Trust           0           0           0           0
  Preferred Equity outside Stock Equity            -69         -49         -22          -7
 Total Non-Current Liabilities                8,001.00    7,663.00    7,016.00    8,124.00

Total Liabilities                            17,407.00   14,415.00   13,431.00   14,176.00



Stockholder's Equity
   Preferred Stock Equity                            0           0           0           0
   Common Stock Equity                       14,320.00   13,572.00   11,896.00    9,298.00
   Common Par                                       30          30          30          30
   Additional Paid In Capital                      614         618         548           0
   Cumulative Translation Adjustment                 0           0           0           0
   Retained Earnings                         21,116.00   18,730.00   15,961.00   13,464.00
   Treasury Stock                            -6,387.00   -4,920.00   -3,376.00   -2,524.00
   Other Equity Adjustments                  -1,053.00        -886   -1,267.00   -1,672.00
  Total Equity                               14,320.00   13,572.00   11,896.00    9,298.00
  Total Capitalization                       16,633.00   15,969.00   13,598.00   11,485.00

Total Liabilities & Stock Equity             31,727.00   27,987.00   25,327.00   23,474.00



Additional Data
Cash Flow                                     5,384.00    5,473.00    4,786.00    4,108.00
Working Capital                               1,048.00    1,887.00         515         361
Free Cash Flow                                1,379.00    2,274.00    1,842.00    1,798.00
Invested Capital                             16,633.00   15,969.00   13,598.00   11,485.00

Share Data
Shares Outstanding Common Class Only          1,656.00    1,679.00    1,705.00    1,722.00
Preferred Shares                                     0           0           0           0
Total Ordinary Shares                                0           0           0           0
Total Common Shares Outstanding               1,656.00    1,679.00    1,705.00    1,722.00
Treasury Shares                                    126         103          77          60
PepsiCo, Inc.(NYSE:PEP)
Income Statement | Balance Sheet | Cash Flow Statement
Annual Statement | Show Quarterly
                                                         2005        2004        2003        2002
All amounts in millions except per share amounts.      Dec-05      Dec-04      Dec-03      Dec-02


Operating Revenue                                   32,562.00   29,261.00   26,971.00   25,112.00
 Total Revenue                                      32,562.00   29,261.00   26,971.00   25,112.00
 Adjustment to Revenue                                      0           0           0           0
Cost of Sales                                       13,018.00   11,557.00   11,303.00   10,523.00
 Cost of Sales with Depreciation                    14,176.00   12,674.00   12,379.00   11,497.00
 Gross Margin                                               0           0           0           0
Gross Operating Profit                              19,544.00   17,704.00   15,668.00   14,589.00
R&D                                                         0           0           0           0
SG&A                                                12,314.00   11,031.00    9,460.00    8,958.00
Advertising                                                 0           0           0           0
 Operating Profit                                    5,922.00    5,259.00    4,781.00    4,295.00

Operating Profit before Depreciation (EBITDA)        7,230.00    6,673.00    6,208.00    5,631.00
Depreciation                                         1,308.00    1,264.00    1,221.00    1,112.00
  Depreciation Unreconciled                                 0           0           0           0
  Amortization                                              0           0           0           0
  Amortization of Intangibles                             150         147         145         138
Operating Income After Depreciation                  5,922.00    5,409.00    4,987.00    4,519.00
Interest Income                                           159          74          51          36
Earnings from Equity Interest                             557         380         323         280
Other Income, Net                                           0           0           0           0
  Income Acquired in Process R&D                            0           0           0           0
  Interest Restructuring and M&A                            0        -150        -206        -224
  Other Special Charges                                     0           0           0           0

Total Income Avail for Interest Expense (EBIT)       6,638.00    5,713.00    5,155.00    4,611.00
Interest Expense                                          256         167         163         178
Income Before Tax (EBT)                              6,382.00    5,546.00    4,992.00    4,433.00
Income Taxes                                         2,304.00    1,372.00    1,424.00    1,433.00
Minority Interest                                           0           0           0           0
Preferred Securities of Subsidiary Trust                    0           0           0           0
Net Income from Continuing Operations                4,078.00    4,174.00    3,568.00    3,000.00
Net Income from Discontinued Ops.                           0          38           0           0
Net Income from Total Operations                     4,078.00    4,212.00    3,568.00    3,000.00
Extraordinary Income/Losses                                 0           0           0           0
Income from Cum. Effect of Acct Chg                         0           0           0           0
Income from Tax Loss Carryforward                           0           0           0           0
Other Gains (Losses)                                        0           0           0           0
Total Net Income                                4,078.00   4,212.00   3,568.00   3,000.00

Normalized Income                               4,078.00   4,324.00   3,774.00   3,224.00
Net Income Available for Common                 4,076.00   4,171.00   3,565.00   2,996.00
Preferred Dividends                                    2          3          3          4
Excise Taxes                                           0          0          0          0


Per Share Data
Basic EPS from Continuing Ops.                      2.39       2.41       2.05       1.71
Basic EPS from Discontinued Ops.                       0       0.02          0          0
Basic EPS from Total Operations                     2.39       2.43       2.05       1.71
Basic EPS from Extraordinary Inc.                      0          0          0          0

Basic EPS from Cum Effect of Accounting Chg            0          0          0          0
Basic EPS from Other Gains (Losses)                    0          0          0          0
Basic EPS Total                                     2.39       2.43       2.05       1.71
Basic Normalized Net Income/Share                   2.39        2.5       2.17       1.84
Diluted EPS from Continuing Ops.                    2.39       2.41       2.05       1.68
Diluted EPS from Discontinued Ops.                     0       0.02          0          0
Diluted EPS from Total Operations                   2.39       2.43       2.05       1.68
Diluted EPS from Extraordinary Inc.                    0          0          0          0

Diluted EPS from Cum Effect of Accounting Chg          0          0          0          0
Diluted EPS from Other Gains (Losses)                  0          0          0          0
Diluted EPS Total                                   2.39       2.43       2.05       1.68
Diluted Normalized Net Income/Share                 2.39        2.5       2.17       1.81
Dividends Paid per Share                            1.01       0.78       0.62       0.59


Additional Data
Basic Weighted Shares Outstanding               1,669.00   1,696.00   1,718.00   1,753.00
Diluted Weighted Shares Outstanding             1,706.00   1,729.00   1,739.00   1,782.00
                      Avg P/E            Price/ Sales   Price/ Book       Net Profit Margin (%)
          5-Dec                   23.3            3.1              6.87                     12.5
          4-Dec                   21.2           3.07              6.45                     14.2
          3-Dec                   21.6              3              6.67                     13.2
          2-Dec                   27.7           2.96              7.53                     11.8
          1-Dec                   34.6           3.77              9.93                     10.2
         Dec-00                   28.8           3.97             11.33                     11.4
         Dec-99                   26.7           2.57              7.49                       10
         Dec-98                   28.7           2.75              9.29                      8.9
         Dec-97                   37.4           2.61              7.53                      7.1
         Dec-96                     53           2.34              6.91                      4.6

                  Book Value/ Share Debt/ Equity Return on Equity (%) Return on Assets (%)
5-Dec                          $8.61        36.5                  28.6                 12.9
4-Dec                          $8.05       25.52                  30.9                 14.9
3-Dec                          $6.96       19.31                    30                 14.1
2-Dec                          $5.53       28.87                  31.5                 12.8
1-Dec                          $4.94       34.64                  27.7                 11.1
Dec-00                         $4.38       41.96                  33.2                 12.3
Dec-99                         $4.73       44.25                  36.4                 14.3
Dec-98                         $4.35     124.18                   31.1                  8.8
Dec-97                         $4.62       71.31                  21.5                  7.4
Dec-96                         $4.29     123.42                   14.2                  4.3

 Financial data in U.S. dollars
Interest Coverage
              23.1
              31.5
              29.3
              24.1
              16.6
                14
               9.6
               6.5
               5.6
               3.6
             Growth Rates %           Company Industry S&P 500
Sales (Qtr vs year ago qtr)               11.8     9.5     14.1
Net Income (YTD vs YTD)                    3.2    66.1     21.3
Net Income (Qtr vs year ago qtr)           3.2    66.1     21.3
Sales (5-Year Annual Avg.)               11.99    8.71     5.46
Net Income (5-Year Annual Avg.)          23.62   17.38   17.27
Dividends (5-Year Annual Avg.)           44.97   20.44     8.49

               Price Ratios           Company Industry S&P 500
Current P/E Ratio                         14.8    17.1     17.1
P/E Ratio 5-Year High                     39.2    57.5     64.8
P/E Ratio 5-Year Low                        13      16     16.5
Price/Sales Ratio                         2.54     1.2     1.42
Price/Book Value                          4.41     3.7     2.68
Price/Cash Flow Ratio                     11.9    12.6     11.6

            Profit Margins %          Company Industry S&P 500
Gross Margin                              42.4    25.4     47.5
Pre-Tax Margin                            27.4    11.3     12.4
Net Profit Margin                         17.6     7.1      8.5
5Yr Gross Margin (5-Year Avg.)            40.8    25.4     47.1
5Yr PreTax Margin (5-Year Avg.)           24.9    10.1      9.7
5Yr Net Profit Margin (5-Year Avg.)       16.2     6.1      6.2

           Financial Condition        Company Industry S&P 500
Debt/Equity Ratio                         0.32    0.28     1.14
Current Ratio                              3.5     2.4      1.4
Quick Ratio                                3.1     1.6      0.9
Interest Coverage                         42.5    21.1      3.2
Leverage Ratio                             1.7     1.9      5.8
Book Value/Share                         11.78    9.43   13.84

          Investment Returns %        Company Industry S&P 500
Return   On Equity                        30.6    21.9     16.1
Return   On Assets                        17.9    11.7      2.8
Return   On Capital                       23.2      17      7.5
Return   On Equity (5-Year Avg.)          27.4    18.8     12.4
Return   On Assets (5-Year Avg.)            16     9.9      2.1
Return   On Capital (5-Year Avg.)           22    16.3      5.8

         Management Efficiency        Company Industry S&P 500
Income/Employee                        100,000 22,000 32,000
Revenue/Employee                       566,000 316,000 374,000
Receivable Turnover                        3.2     6.8        8
Inventory Turnover                        12.5     7.8      8.1
Asset Turnover                               1     1.7      0.3
Pepsico Inc.:
Key Ratios
           Growth Rates
           Price Ratios
           Profit Margins
           Financial Condition
           Investment Returns
           Management Efficiency
           Ten Year Summary
PepsiCo, Inc.(NYSE:PEP)                                                                 65.2
Income Statement | Balance Sheet | Cash Flow Statement
Quarterly Statement | Show
Annual
All amounts in millions except per share   Q2-2006    Q1-2006      Q4-2005   Q3-2005
amounts.                                    Jun-06     Mar-06       Dec-05    Sep-05


Operating Revenue                          8,599.00   7,205.00   10,096.00   8,184.00
 Total Revenue                             8,599.00   7,205.00   10,096.00   8,184.00
 Adjustment to Revenue                            0          0           0          0
Cost of Sales                              3,521.00   2,924.00    3,556.00   3,462.00

  Cost of Sales with Depreciation          3,809.00   3,179.00    3,921.00   3,733.00
  Gross Margin                                    0          0           0          0
Gross Operating Profit                     5,078.00   4,281.00    6,540.00   4,722.00
R&D                                               0          0           0          0
SG&A                                       2,992.00   2,647.00    4,689.00   2,734.00
Advertising                                       0          0           0          0
  Operating Profit                         1,762.00   1,348.00    1,439.00   1,680.00
Operating Profit before
Depreciation (EBITDA)                      2,086.00   1,634.00    1,851.00   1,988.00
Depreciation                                    324        286         412        308
  Depreciation Unreconciled                       0          0           0          0
  Amortization                                    0          0           0          0
  Amortization of Intangibles                    36         31          47         37
Operating Income After
Depreciation                               1,762.00   1,348.00    1,439.00   1,680.00
Interest Income                                  26         45          71         37
Earnings from Equity Interest                   176         84         127        209
Other Income, Net                                 0          0           0          0

  Income Acquired in Process R&D                 0          0           0          0
  Interest Restructuring and M&A                 0          0           0          0
  Other Special Charges                          0          0           0          0
Total Income Avail for Interest
Expense (EBIT)                             1,964.00   1,477.00    1,637.00   1,926.00
Interest Expense                                 59         62          95         58
Income Before Tax (EBT)                    1,905.00   1,415.00    1,542.00   1,868.00
Income Taxes                                    547        396         434   1,004.00
Minority Interest                                 0          0           0          0
Preferred Securities of Subsidiary
Trust                                            0          0           0          0
Net Income from Continuing
Operations                                 1,358.00   1,019.00    1,108.00       864
Net Income from Discontinued Ops.           0          0          0      0

Net Income from Total Operations      1,358.00   1,019.00   1,108.00   864
Extraordinary Income/Losses                  0          0          0     0
Income from Cum. Effect of Acct
Chg                                         0          0          0      0

Income from Tax Loss Carryforward           0          0          0      0
Other Gains (Losses)                        0          0          0      0


Total Net Income                      1,358.00   1,019.00   1,108.00   864

Normalized Income                     1,358.00   1,019.00   1,108.00   864

Net Income Available for Common       1,358.00   1,019.00   1,106.00   864
Preferred Dividends                          0          0          2     0
Excise Taxes                                 0          0          0     0


Per Share Data
Basic EPS from Continuing Ops.            0.82       0.61       0.62   0.52

Basic EPS from Discontinued Ops.            0          0          0      0

Basic EPS from Total Operations           0.82       0.61       0.62   0.52

Basic EPS from Extraordinary Inc.           0          0          0      0
Basic EPS from Cum Effect of
Accounting Chg                              0          0          0      0
Basic EPS from Other Gains
(Losses)                                     0          0          0      0
Basic EPS Total                           0.82       0.61       0.62   0.52

Basic Normalized Net Income/Share         0.82       0.61       0.62   0.52

Diluted EPS from Continuing Ops.           0.8        0.6       0.65   0.51

Diluted EPS from Discontinued Ops.          0          0          0      0

Diluted EPS from Total Operations          0.8        0.6       0.65   0.51

Diluted EPS from Extraordinary Inc.         0          0          0      0
Diluted EPS from Cum Effect of
Accounting Chg                              0          0          0      0
Diluted EPS from Other Gains
(Losses)                                     0          0          0      0
Diluted EPS Total                          0.8        0.6       0.65   0.51
Diluted Normalized Net
Income/Share                               0.8        0.6       0.65   0.51
Dividends Paid per Share                   0.3       0.52          0   0.26


Additional Data
Basic Weighted Shares Outstanding   1,652.00   1,656.00   1,669.00   1,668.00
Diluted Weighted Shares
Outstanding                         1,689.00   1,695.00   1,706.00   1,703.00
65.63



5-Sep
PepsiCo, Inc.(NYSE:PEP)                                                                    64.93
Income Statement     | Balance Sheet | Cash Flow Statement
Quarterly Statement | Show
Annual
All amounts in millions except per share     Q2-2006     Q1-2006     Q4-2005     Q3-2005
amounts.                                      Jun-06      Mar-06      Dec-05      Sep-05


Assets
   Cash and Equivalents                          419         956    1,716.00         844
   Restricted Cash                                 0           0           0           0
   Marketable Securities                    2,259.00    2,373.00    3,166.00    4,028.00
     Accounts Receivable                    4,104.00    3,634.00    3,261.00    3,757.00
     Loans Receivable                              0           0           0           0
     Other Receivable                              0           0           0           0
   Receivables                              4,104.00    3,634.00    3,261.00    3,757.00
     Raw Materials                               865         764         738         716
     Work In Progress                            228         159         112         180
     Purchased Components                          0           0           0           0
     Finished Goods                         1,007.00         958         843         768
     Other Inventories                             0           0           0           0
     Inventories -Adj Allowances                   0           0           0           0
   Inventories                              2,100.00    1,881.00    1,693.00    1,664.00
   Prepaid Expenses                              648         658         618         498

    Current Deferred Income Taxes                  0           0           0           0
    Other Current Assets                           0           0           0           0
  Total Current Assets                      9,530.00    9,502.00   10,454.00   10,791.00
    Gross Fixed Assets (Plant, Prop.
& Equip.)                                  17,821.00   17,386.00   17,145.00   16,427.00
    Accumulated Depreciation &
Depletion                                   8,884.00    8,632.00    8,464.00    8,264.00
  Net Fixed Assets                          8,937.00    8,754.00    8,681.00    8,163.00
  Intangibles                               1,704.00    5,701.00    1,616.00    5,321.00
  Cost in Excess                            4,271.00           0    4,088.00           0
  Non-Current Deferred Income
Taxes                                              0           0           0           0
  Other Non-Current Assets                  6,984.00    7,037.00    6,888.00    6,623.00
  Total Non Current Assets                 21,896.00   21,492.00   21,273.00   20,107.00

Total Assets                               31,426.00   30,994.00   31,727.00   30,898.00



Liabilities
   Accounts Payable                         6,184.00    5,587.00    5,971.00    5,860.00
   Notes Payable                            0           0           0           0
   Short Term Debt                   1,161.00    2,214.00    2,889.00    2,266.00
   Accrued Expenses                         0           0           0           0
   Accrued Liabilities                      0           0           0           0
   Deferred Revenues                        0           0           0           0

   Current Deferred Income Taxes            0           0           0           0
   Other Current Liabilities              449         359         546         890
 Total Current Liabilities           7,794.00    8,160.00    9,406.00    9,016.00
   Long Term Debt                    2,542.00    2,288.00    2,313.00    2,300.00
   Capital Lease Obligations                0           0           0           0
   Deferred Income Taxes             1,427.00    1,378.00    1,434.00    1,338.00
   Other Non-Current Liabilities     4,430.00    4,427.00    4,323.00    4,144.00
   Minority Interest
   Preferred Securities of                  0           0           0           0
Subsidiary Trust
   Preferred Equity outside Stock           0           0           0           0
Equity                                    -73         -71         -69         -63
 Total Non-Current Liabilities       8,326.00    8,022.00    8,001.00    7,719.00

Total Liabilities                   16,120.00   16,182.00   17,407.00   16,735.00



Stockholder's Equity
   Preferred Stock Equity                   0           0           0           0
   Common Stock Equity              15,306.00   14,812.00   14,320.00   14,163.00
   Common Par                              30          30          30          30
   Additional Paid In Capital             552         567         614         641
   Cumulative Translation
Adjustment                                  0           0           0           0
   Retained Earnings                22,563.00   21,702.00   21,116.00   20,441.00
   Treasury Stock                   -6,937.00   -6,498.00   -6,387.00   -6,028.00
   Other Equity Adjustments              -902        -989   -1,053.00        -921
  Total Equity                      15,306.00   14,812.00   14,320.00   14,163.00
  Total Capitalization              17,848.00   17,100.00   16,633.00   16,463.00

Total Liabilities & Stock Equity    31,426.00   30,994.00   31,727.00   30,898.00



Additional Data
Cash Flow                            5,677.00    5,495.00    5,384.00    5,251.00
Working Capital                      1,736.00    1,342.00    1,048.00    1,775.00
Free Cash Flow                           -175        -750    1,379.00    1,501.00
Invested Capital                    17,848.00   17,100.00   16,633.00   16,463.00

Share Data
Shares Outstanding Common Class
Only                                 1,649.00    1,656.00    1,656.00    1,661.00
Preferred Shares                            0           0           0           0
Total Ordinary Shares                       0           0           0           0

Total Common Shares Outstanding      1,649.00    1,656.00    1,656.00    1,661.00
Treasury Shares   133   126   126   121
   60
Sep 6
4:02p
m ET
    †
Quarterly Balance (Millions)             3/31/06    12/31/05      9/30/05      6/30/05     3/31/05
Cash Flow from Operating Activities
Net Income (Loss)                          234.6        959.6        729.6        464.6      227.2
Depreciation and Amortization               54.2        205.7        159.8        106.5       53.3
Deferred Income Taxes                          0         48.3            0            0          0
Operating (Gains) Losses                    -37.9        -248         -53.2        45.5      -300.2
Extraordinary (Gains) Losses                   0            0            0            0          0
Change in Working Capital
(Increase) Decr. in Receivables             -25.5         -17            0            0          0
(Increase) Decr. in Inventories             -33.8          5.5           0            0          0
(Increase) Decr. in Other Curr. Assets         0            0            0            0          0

(Decrease) Incr. in Payables               167.6         15.5            0            0          0
(Decrease) Incr. in Other Curr. Liabs.         0            0            0            0          0
Other Non-Cash Items                          6.2           -9       144.4         -54.8      71.3
Net Cash from Cont. Operations             365.2        960.5        980.5        561.7       51.7
Net Cash from Discont. Operations              0            0            0            0          0


Net Cash from Operating Activities         365.2       960.5        980.5        561.7        51.7



Cash Flow from Investing Activities
Cash Flow Provided by:
Sale of Property, Plant, Equipment             0            0            0            0          0
Sale of Short Term Investments             222.1     1,783.50        755.3     2,897.50      468.7
Cash Used by:
Purchase of Property, Plant, Equipmt.        -36       -198.4       -122.1         -75.4       -39
Purchase of Short Term Investments         -231.8    -1,352.40           0         -492      -318.8
Other Investing Changes Net                  -8.5        -55.6       168.1     -1,294.60     172.8


Net Cash from Investing Activities         -54.1       177.1        801.3     1,035.50       283.6



Cash Flow from Financing Activities
Cash Flow Provided by:
Issuance of Debt                               0          200            0            0          0
Issuance of Capital Stock                     5.1        31.3         24.4         21.4       19.2
Cash Used for:
Repayment of Debt                          -105.7      -280.7       -510.7       -485.1      -222.6
Repurchase of Capital Stock                -107.1    -1,054.60    -1,014.60    -1,014.60     -175.8
Payment of Cash Dividends                    -49       -173.8       -124.3         -80.5      -36.5
Other Financing Charges, Net                  1.1          6.1          5.3          6.2        5.7


Net Cash from Financing Activities        -255.6    -1,271.80    -1,620.00    -1,552.60     -410.1



Effect of Exchange Rate Changes                0            0            0            0          0
Net Change in Cash & Cash Equivalents       55.5       -134.2        161.8         44.6       -74.8

Cash at Beginning of Period                  141        275.2        275.2        275.2      275.2
Free Cash Flow                             280.2        588.3        734.1        405.8       -23.8



Data providers
Financial Statement data provided by Hemscott, Inc. .
Quotes supplied by ComStock, an Interactive Data company.

				
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