financial forecast for pepsi_blank

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Stevens Institute Of Technology *

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625

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Finance

Date

Jan 9, 2024

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xlsx

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Uploaded by SargentCobraMaster913

FORECAST ASSUMPTIONS Most recent year Forecast Revenue growth 4.80% 4.0% Operating profit margin 14.30% 15.0% Other income expense change from prior year volatile 0.0% Interest income as percent of prior year cash and investm 2.20% 1.0% Interest expense as percent of prior year debt 3.90% 3.5% Tax rate 21.0% Other comprehensive income 0.0% Dividend payout ratio 70.0% Current assets other than cash as percent of revenue 19.1% 19.0% Gross PPE/Revenue 65.9% 65.0% Depreciation expense as percent of prior year PPE 5.4% 5.0% All other non current assets change from prior year 3.0% Short-term debt obligations percent change 0.0% 32.5% 30.0% Long-term debt yoy amount change 0.0% All other non current liabilities change from prior year 0.0% Stock issuances 0.0% Share repurchases 0.0% Change in minority interest 0.0% $ in Millions ACTUAL Dec. 26, 2020 2021 2022 Income Statement Net Revenue $ 70,372 $ 73,187 $ 76,114 All operating expenses 60,292 62,209 $ 64,697 Operating Profit 10,080 10,978 11,417 Other non-interest income/(expense) 117 117 117 Interest income 124 96 101 Interest expense 1,252 1,545 1,545 Income before income taxes 9,069 9,645 10,090 Income taxes 1,894 2,026 2,119 Net income $ 7,175 $ 7,620 $ 7,971 Dividends $ 5,509 $ 5,334 $ 5,580 Other Comprehensive Income/(Loss), after-tax amount (1,176) $0 $0 Consolidated Balance Sheet - $ in Millions Dec. 26, 2020 ASSETS Cash, cash equivalents, investments $ 9,551 $10,081 $ 11,638 All other current assets 13,450 $13,906 14,462 Property, Plant and Equipment gross 46,340 47,571 49,474 Accounts payable and other current liabilities as % of opex

Accumulated depreciation (24,971) (27,288) (29,667) All Other noncurrent Assets 48,548 50,004 51,505 Total Assets $ 92,918 $ 94,275 $ 97,412 LIABILITIES AND EQUITY Short-term debt obligations 3,780 3,780 3,780 Accounts payable and other current liabilities 19,592 18,663 19,409 Liabilities, Current 23,372 22,443 23,189 Long-Term Debt Obligations 40,370 40,370 40,370 All Other Liabilities, Noncurrent 15,624 15,624 15,624 Liabilities 79,366 78,437 79,183 Commitments and contingencies PepsiCo Common Shareholders’ Equity Common stock and additional paid in capital $ 4,031 $ 4,031 $ 4,031 Retained Earnings 63,443 65,729 68,120 Accumulated Other Comprehensive Income (Loss) (15,476) (15,476) (15,476) Repurchased common stock (38,446) (38,446) (38,446) Total Equity 13,552 15,838 18,229 Liabilities and Equity $ 92,918 $ 94,275 $ 97,412 Cash flow - $ in Millions Net income $ 7,620 $ 7,971 Plus depreciation 2,317 2,379 Minus changes in current assets ($456) (556) Plus changes in current liabilities (929) 747 Operating cash flow 8,552 10,540 Change in Gross PPE (1,231) (1,903) Change in All other non current assets (1,456) (1,500) Investing cash flow (2,688) (3,403) Cash from short term borrowing 0 0 Cash from borrowing (repayment) 0 0 Cash from/for other noncurrent liabilities 0 0 Cash from stock issuance $0 $0 Cash for dividends $ (5,334) $ (5,580) Cash impact of OCI $0 $0 Cash for stock repurchases $0 $0 Financing cash flow (5,334) (5,580) Total Cash flow $ 530 $ 1,557 Double check balance sheet equality: Total Assets - Total Liabilities and Equity $ 0 $ 0 $ 0

We expect to return a total of approximately $5.9 billion to shareholders in 2021, comprised of dividends of approximately $5.8 billion and share repurchases of approximately $100 million. We have recently completed our share repurchase activity and do not expect to repurchase any additional shares for the balance of 2021.

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2023 2024 2025 For checking purpose: If your formular is correct, $ 79,159 $ 82,325 85,618 85,618 $ 67,285 $ 69,976 72,776 72,776 11,874 12,349 12,843 12,843 117 117 117 117 116 133 150 150 1,545 1,545 1,545 $1,545 10,562 11,053 11,565 $ 11,565 2,218 2,321 2,429 $2,429 $ 8,344 $ 8,732 9,136 $9,136 $ 5,841 $ 6,113 6,395 $ 6,395 $0 $0 0 0 $ 13,289 $ 15,038 16,888 $ 16,888 15,040 15,642 16,267 16,267 51,453 53,511 55,652 55,652

(32,140) (34,713) (37,389) (37,389) 53,050 54,641 56,280 56,280 $ 100,692 $ 104,119 90,811 $ 107,700 3,780 3,780 3,780 3,780 20,186 20,993 21,833 21,833 23,966 24,773 25,613 25,613 40,370 40,370 40,370 40,370 15,624 15,624 15,624 15,624 79,960 80,767 81,607 81,607 $ 4,031 $ 4,031 4,031 $ 4,031 70,623 73,243 75,984 75,984 (15,476) (15,476) (15,476) (15,476) (38,446) (38,446) (38,446) (38,446) 20,732 23,352 26,093 26,093 $ 100,692 $ 104,119 107,700 $ 107,700 $ 8,344 $ 8,732 9,136 $ 9,136 2,474 2,573 2,676 2,676 (578) (602) (626) (626) 776 807 840 840 11,016 11,511 12,026 12,026 (1,979) (2,058) (2,140) (2,140) (1,545) (1,591) (1,639) (1,639) (3,524) (3,650) (3,780) (3,780) 0 0 0 0 0 0 0 0 0 0 0 0 $0 $0 0 $0 $ (5,841) $ (6,113) (6,395) $ (6,395) $0 $0 0 $0 $0 $0 0 $0 (5,841) (6,113) (6,395) (6,395) $ 1,651 $ 1,749 1,851 $ 1,851 $ 0 $ 0 $ (16,889) $ 0