Financial Management

Class 2 Group 6 Pham Hung Thinh – 335959Huynh Thanh Nguyen – 332934Nguyen Tan Huy-332949

PepsiCo Inc.• American multinational food and beverage corporation.• World leader in snacks, foods and beverages.• Stock symbol: PEP.

What brands does Pepsi own?

Income Statement 2008 2009 2010 2013 2014PepsiCo Net Sales or Revenues 43.25B 43.23B 57.84B 66.42B 66.68BCost Of Goods Sold (COGS) 20.35B 20.1B 26.58B 31.24B 30.88BPepsiCo Gross Profit 22.9B 23.13B 31.26B 35.17B 35.8BResearch & Development Expense - - - - -Selling General & Admin Expense 15.9B 15.03B 22.81B 25.36B 26.13BIncome Before Depreciation Depletion Amortization 7B 8.11B 8.45B 9.82B 9.67B

Depreciation Depletion Amortization 64M 63M 117M 110M 92MNon Operating Income 415M 432M 803M 97M 85MInterest Expense 329M 397M 903M 911M 909MPepsiCo Pretax Income 7.02B 8.08B 8.23B 8.89B 8.76BProvision for Income Taxes 1.88B 2.1B 1.89B 2.1B 2.2BMinority Interest - 33M 18M 47M 45MInvestment Gains Losses - - - - -Other Income - - - - -

Income Before Extraordinaries & Disc Operations 5.14B 5.98B 6.34B 6.79B 6.56B

Extraordinary Items & Discontinued Operations - - - - -

PepsiCo Net Income (Profit/Loss) 5.14B 5.95B 6.32B 6.74B 6.51B

Average Shares used to compute Diluted EPS 1.6B 1.58B 1.61B 1.56B 1.53B

Average Shares used to compute Basic EPS 1.6B 1.58B 1.59B 1.56B 1.51B

Income Before Nonrecurring Items 5.89B 5.85B 6.68B 6.82B 7.07BIncome from Nonrecurring Items -745M 100M -355M -83M -553M

PepsiCo Earnings Per Share Basic Net 3.21 3.77 3.97 4.32 4.27

Pepsico Earnings Per Share Diluted Net 3.21 3.77 3.91 4.32 4.27

EPS Diluted Before Nonrecurring Items 3.68 3.71 4.13 4.37 4.63

Preferred Dividends Acc Pd - - - - -Dividends Common - - - - -Dividend Per Share Common 1.65 1.78 1.89 2.24 2.53

Balance Sheet 2008 2009 2010 2013 2014Cash 2.06B 3.94B 5.94B 9.38B 6.13BMarketable Securities 213M 192M 426M 303M 2.59BReceivables 4.68B 4.62B 6.32B 6.95B 6.65BInventory 2.52B 2.62B 3.37B 3.41B 3.14BRaw Materials 1.23B 1.27B 1.65B 1.73B 1.59BWork In Progress 169M 165M 128M 168M 173MFinished Goods 1.13B 1.18B 1.59B 1.51B 1.38BNotes Receivable - - - - -Other Current Assets 1.32B 1.19B 1.51B 2.16B 2.14BPepsiCo Total Current Assets 10.81B 12.57B 17.57B 22.2B 20.66BProperty Plant & Equipment 22.55B 24.91B 33.04B 36.96B 36.3BAccumulated Depreciation 10.89B 12.24B 13.98B 18.39B 19.06B

PepsiCo Net Property Plant & Equipment 11.66B 12.67B 19.06B 18.58B 17.24B

Investment & Advances 3.88B 4.48B 1.37B 1.84B 2.69BOther Non-Current Assets - - - - -Deferred Charges - - - - -Intangibles 6.98B 9.16B 28.47B 32.65B 29.05BDeposits & Other Assets 2.66B 965M 1.69B 2.21B 860MPepsiCo Total Assets 35.99B 39.85B 68.15B 77.48B 70.51BNotes Payable 369M 464M 4.9B 5.31B 5.08BAccounts Payable 8.27B 8.13B 10.92B 12.53B 13.02BCurrent Portion Long-Term Debt - - - - -Current Portion Capital Leases - - - - -Accrued Expenses - - - - -Income Taxes Payable 145M 165M 71M - -Other Current Liabilities - - - - -PepsiCo Total Current Liabilities 8.79B 8.76B 15.89B 17.84B 18.09BMortgages - - - - -Deferred Taxes/Income 226M 659M 4.06B 5.99B 5.3BConvertible Debt - - - - -Long-Term Debt 7.86B 7.4B 20B 24.33B 23.82BNon-Current Capital Leases - - - - -Other Long-Term Liabilities 7.02B 5.59B 6.73B 4.93B 5.74BPepsico Total Liabilities 23.89B 22.41B 46.68B 53.09B 52.96BMinority Interest - - - - -Preferred Stock -97M -104M -109M -130M -140MCommon Stock Net 30M 30M 31M 25M 25MCapital Surplus 351M 250M 4.53B 4.1B 4.12BRetained Earnings 30.64B 33.81B 37.09B 46.42B 49.09BTreasury Stock 14.12B 13.38B 16.75B 21B 24.99BOther Liabilities -4.69B -3.16B -3.32B -5.02B -10.56BPepsiCo Shareholders Equity 12.11B 17.44B 21.48B 24.39B 17.55B

Pepsico Total Liabilities & Shareholders Equity 35.99B 39.85B 68.15B 77.48B 70.51B

Cash Flow 2008 2009 2010 2013 2014PepsiCo Net Income Cash Flow 5.14B 5.98B 6.34B 6.79B 6.56B

Depreciation Depletion Amortization Cash-Flow 1.54B 1.64B 2.33B 2.66B 2.63B

Net Increase (Decrease) in Assets Liabilities -424M 264M 763M 958M 1.16B

Cash From (used in) Discontinued Operations - - - - -

Other Adjustments Net 738M -1.08B -980M -720M 164MPepsiCo Net Cash from (used by) Operating Activities 7B 6.8B 8.45B 9.69B 10.51B

Increase (Decrease) in Prop Plant And Equipment -2.35B -2.07B -3.17B -2.69B -2.74B

Acquisition Disposition of Subsidiaires -1.6B -386M -3.8B 21M 115M

Increase (Decrease) in Investments 1.28B 55M -675M 61M -2.3BOther Cash Inflow (Outflow) from Investment Activities - - -17M -21M -10M

PepsiCo Net Cash from (used by) Investment Activities -2.67B -2.4B -7.67B -2.63B -4.94B

Issuance (Purchase) of Equity Shares -4.11B 406M -3.95B -1.89B -4.27B

Issuance (Repayment) of Debt Securities 3.07B 831M 5.89B 301M 1.67B

Increase (Decrease) in Bank & Other Borrowings 445M -1.02B 2.48B 1.17B -2B

Payment of Dividends & Other Cash Distributions -2.54B -2.73B -2.98B -3.43B -3.73B

Other Cash from (used by) Financing Activities 107M 16M -65M 64M 64M

PepsiCo Net Cash from (used by) Financing Activities -3.03B -2.5B 1.39B -3.79B -8.26B

Effect of Exchange Rate Changes on Cash -153M -19M -166M -196M -546M

PepsiCo Net Change in Cash & Cash Equivalents 1.15B 1.88B 2B 3.08B -3.24B

Cash & Equivalents at Beginning of Year 910M 2.06B 3.94B 6.3B 9.38B

Cash & Equivalents at Year End 2.06B 3.94B 5.94B 9.38B 6.13B

Cash FlowNet Increase (Decrease) in Assets Liabilities (Million Dollars)

2008 2009 2010 2013 2014

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Cash FlowEffect of Exchange Rate Changes on Cash (Million Dollars)

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Cash FlowCash & Equivalents at Beginning of Year (Million Dollars)

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Balance SheetCash (Million Dollars)

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Balance SheetIntangibles (Million Dollars)

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Balance SheetOther Liabilities (Million Dollars)

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Income StatementRevenues (Million Dollars)

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Income StatementNon Operating Income (Million Dollars)

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Income StatementInterest Expense (Million Dollars)

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Net Working Capital(Billion Dollars)

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Current Ratio

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PepsicoDr.Pepper

Quick Ratio

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Cash Ratio

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PepsiCo and Dr.Pepper Cycle

Production Cycle 2008 2009 2010 2013 2014

PepsiCo 43.13 46.6 46.3 41.76 37.13

Dr.Pepper 37.06 42.88 37.7 32.1 29.31

Collection Cycle 2008 2009 2010 2013 2014

PepsiCo 42.44 36.68 39.89 38.21 36.4

Dr.Pepper 33.54 37.21 36.25 35.49 40.12

Payment Cycle 2008 2009 2010 2013 2014

PepsiCo 142.3 148.9 53 56.9 60.6

Dr.Pepper 107.03 112.65 117.74 40.6 41.05

Cash Conversion Cycle

2008 2009 2010 2013 2014

PepsiCo -65.71 -61.88 27.96 17.84 9.97

Dr.Pepper -36.43 -32.56 -43.29 26.99 28.38

Production Cycle

2008 2009 2010 2013 20140

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Collection Cycle

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Payment Cycle

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Cash Conversion Cycle

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• PepsiCo is always looking into the future.• Create new product.• Focus on sale.

Conclusion• New policy.• Close relationship with customers.• A profitable business.

Preference• http://csimarket.com/Industry/Industry_Valuation.php?ind=505

• http://amigobulls.com/stocks/DPS/balance-sheet/annual• http://www.msn.com/vi-vn/money/stockdetails/financials/fi-126.1.PEP.NYS