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PepsiCo Cash Flow Statement

Operating, investing, and financing cash movements

PepsiCo generated $13.1B in operating cash flow over the trailing twelve months. After $4.5B in capital expenditures, free cash flow was $8.8B. Free cash flow increased 0.2% year-over-year. Based on the Q1 2026 filing.

Net Cash From Operating (TTM)$13.1BNet Cash From Investing (TTM)-$11.1BNet Cash From Financing (TTM)-$5.1BCapital Expenditures (TTM)$4.5BDepreciation And Amortization Cf$742.0MNet Change In Cash (TTM)$2.2B
Latest FilingQ1 2026
Report Date2026-04-16
Market Cap$196.45B
P/E Ratio22.49
ROE43.92%

Investing

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Sales of short-term available-for-sale investments—$0———$14M
Proceeds from Sales of Assets and Subsidiaries$31M$132M$169M$272M$0$13M
Capital expenditures$153M$603M$1.5B$2.5B$0$447M
Payment for (Proceeds from) Other Investing Activity—$2M$111M$117M—-$19M
Payments for (Proceeds from) Short-term investments, three months or less, net—-$16M-$22M-$43M—$9M
Payments to Acquire Businesses and Interest in Affiliates$64M$847.8M$847.8M$847.8M$847.8M—
Payments to Acquire Short-Term Investments$0——$190M——
Proceeds From Divestiture Of Businesses And Interests In Affiliates$41.5M$9.8M$9.8M$9.8M$9.8M—
Proceeds from Maturities, Prepayments and Calls of Debt Securities, Available-for-Sale—$425M$425M$425M—$0
Proceeds From Sale And Maturity Of Available For Sale Securities$0$151.3M$151.3M$151.3M$151.3M—
Sale of investments—$0———$14M
More than three months - Sales$0$0$0$0$0—
Proceeds from disposition of property, plant and equipment/other$31M$132M$169M$272M$0$13M
Net cash from investing activities-$491M-$1.2B-$4.1B-$5.2B—-$477M
Other investing activities—$2M$111M$117M—-$19M
Acquisitions, Affiliate Investments, and Intangible Purchases—$1.2B$3.1B$3.2B—$67M
Proceeds from maturities/sales of investments$0$0$425M$425M—$14M
Proceeds from sale of businesses—$132M$169M$272M—$13M
Proceeds from sale of PPE and intangibles$31M$132M$169M$272M$0$13M

Supplemental

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
ROU assets obtained - operating leases—$166M$329M$542M—$114M
ROU Asset Obtained for Lease Liability—$166M$329M$542M—$114M
Pension And Other Postretirement Benefit Expense$202M$48M$99M$164M$193M$13M

Operating

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Change in accounts payable—-$2.7B-$2.1B-$1.6B—-$1.8B
Change in income taxes payable/receivable-$1.1B$223M$415M$6M-$1.1B$131M
Change in inventories—$238M$800M$449M—$315M
Change in other assets-$947M$307M$354M$223M—$406M
Other working capital changes—-$246M-$269M-$441M—-$157M
Change in receivables—$318M$1.6B$1.7B—$530M
Deferred income taxes-$424M$111M-$260M$30M$190M$226M
Depreciation and amortization—$684M$1.5B$2.3B—$742M
Severance Payments—$232M$387M$554M—$145M
Impairment charges$46M$213M$426M$567M—$133M
Net cash from operating activities$6B-$973M$996M$5.5B$6.6B$41M
Net income$1.5B$1.8B$1.3B$2.6B$2.6B$2.3B
Impairment and other charges——$1.9B$2B——
Increase (Decrease) in Accounts and Notes Receivable—$318M$1.6B$1.7B—$530M
Increase (Decrease) in Prepaid Expense and Other Assets-$947M$307M$354M$223M-$1.1B$406M
Non-cash operating lease expense—$145M$315M$489M—$162M
Operating lease right-of-use asset amortization—$145M$315M$489M—$162M
Payment for Pension and Other Postretirement Benefits—$317M$354M$400M—$270M
Restructuring charges, net of cash paid (Note 15)$46M$213M$426M$567M—$133M
Pension and postretirement benefit expense$202M$48M$99M$164M—$13M
Pension contributions—$317M$354M$400M—$270M
Business Combination Separately Recognized Gains and Losses—-$25M—-$308M—$113M
Payments for Merger Related Costs—$13M—$80M—$14M
Payments for Restructuring—$232M$387M$554M—$145M
Restructuring Costs and Asset Impairment Charges$46M$213M$426M$567M—$133M
Asset Impairment and Exit Costs, Net of Cash Paid$46M$213M$426M$567M—$133M
Restructuring Charges, Net of Cash Paid$46M$213M$426M$567M—$133M
Stock-based compensation—$77M$131M$207M—$93M

Financing

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Proceeds from issuance of debt—$3.5B$3.5B$8.2B—$3B
Repayments of debt—$1.5B$2.5B$3.2B—$1.6B
Dividends paid—$1.9B$3.7B$5.7B—$2B
Other, net-$11M-$2M-$17M-$18M-$36M-$1M
Short-term borrowings/(repayments) less than 90 days — net—$373M$2.4B$445M—$1.2B
Issuances - maturities longer than 90 days—$3.7B$5.3B$5.5B—$1.9B
Repayments of Short-Term Debt, Maturing in More than Three Months—$2.1B$2.5B$5.4B—$676M
Payment of Deferred Purchase Consideration-$11M-$2M-$17M-$18M-$36M-$1M
Noncontrolling interest transactions and other-$11M-$2M-$17M-$18M-$36M-$1M
Net cash from financing activities$0$1.8B$1.9B-$1B-$7.6B$1.7B
Other financing activities-$11M-$2M-$17M-$18M—-$1M
Proceeds from Short-Term Debt (Maturity > 3 Months)—$3.7B$5.3B$5.5B—$1.9B
Repayments of Short-Term Debt (Maturity > 3 Months)—$2.1B$2.5B$5.4B—$676M
Proceeds from Short-Term Debt (Maturity > 3 Months)—$3.7B$5.3B$5.5B—$1.9B
Repayments of Short-Term Debt (Maturity > 3 Months)—$2.1B$2.5B$5.4B—$676M
Noncontrolling Interests Activity and Other-$11M-$2M-$17M-$18M-$36M-$1M
Proceeds from Short-Term Debt (> 90 Days)—$3.7B$5.3B$5.5B—$1.9B
Repayments of Short-Term Debt (> 90 Days)—$2.1B$2.5B$5.4B—$676M
Proceeds from issuance of common stock—$50M$58M$76M—$93M
Repurchases of common stock—$183M$494M$752M—$182M
Net change in short-term borrowings—$373M$2.4B$445M—$1.2B
Taxes paid for net share settlement—$89M$111M$112M—$76M

Free Cash Flow

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Free cash flow$5.9B-$1.6B-$511M$3B$6.8B-$406M

Other

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Effect of exchange rate changes on cash$0$203M$422M$395M—$121M
Net increase (decrease) in cash—-$234M-$841M-$382M$2.1B$1.3B
Leased assets obtained in exchange for operating lease liabilities—$166M$329M$542M—$114M