Pepsico 2020 2019 2018 Balance Sheet Items Inventory Current Assets Property, Plant, and Equipment (net) Total Assets Current Liabilities Long-term Liabilities Total Liabilities Stockholders' Equity Total Liabilities and Stockholders' Equity Common Shares Outstanding Income Statement Items Net Sales Cost of Goods Sold Gross Profit Other Operating Expenses Net Income Interest Expense Income Tax Expense Statement of Retained Earnings Total Cash Dividends Preferred Stock Cash Dividends Common Stock Cash Dividends Cash Flow Statement 4,172 3,338 3,128 23,001 17,645 21,369 19,305 92,918 78,547 77,648 23,372 20,461 55,994 43,218 79,366 63,679 Table B: Horizontal Analysis Pepsico Base Year: Income Statement Items Net Sales Cost of goods sold Other Operating Expenses Balance Sheet Items 13,552 14,868 14,602 92,918 78,547 Inventory Total Assets 1,380 1,391 1,409 70,372 67,161 64,661 31,797 30,132 29,381 38,575 37,029 Table C: Vertical Analysis Pepsico 28,495 26,738 25,170 Income Statement Items 7,175 7,353 1,128 935 1,894 1,959 5,589 5,323 0 0 5,589 5,323 2020 2018 2019 2018 108.83% 103.87% 100.00% 108 22% 102 56% 100.00% 106.23% 100.00% 113 21% 133 38% 106 71% 100.00% 119 67% 101 16% 100.00% 2020 2019 Net Income 10.20% 10.95% Cost of goods sold 45.18% 44.87% Balance Sheet Items Current Assets 24.75% 22.46% Property, Plant, and Equipment (ne 23.00% 24.58% Current Liabilities 29.45% 32.13% Long-term Liabilities 70.55% 67.87% Stockholders' Equity 14.58% 18.93% Net Cash Provided by Operating Activities Capital Expenditures Other Market Price Per Share 10,613 9,649 6,372 2,717 145.06 137.54 Table D: Ratio Analysis Pepsico 2020 2019 Liquidity Ratios Working Capital (371) (2,816) Current Ratio 0.98 0.86 Inventory Turnover 8.47 9.32 Days in Inventory 43.10 39.16 Solvency Ratios Debt to Asset Ratio 0.85 0.81 Times Interest Earned 9.04 10.96 Free Cash Flow (1,348) 1,609 Profitability Ratios Earnings Per Share $5.18 $5.25 Price-Earnings Ratio 28.01 26.19 Gross Profit Rate 0.55 0.55 Profit Margin 0.10 0.11 Return on Assets 0.08 0.09 Asset Turnover 0.82 0.86 Payout Ratio 0.78 0.72 Return on Common Stockholders' 0.50 0.50