Coca Cola Vs Pepsi Financial Analysis

INSTRUCTIONS
100 Input cell
100 Cell under formula
100 SUM formula applied
0 Accuracy check, should be 0 always
1 Fill blue cells only

2 Try not to change formula in other cells
3 The formulas are opened due to flexibility of model, we suggest to protect your formulas when start working
4 If you want to add rows or columns make sure you update and check SUM formula in bottom line
5 Follow validation and consistency check sheet and investigate any significant differences that may appear
6 For some categories I provide basic and alternative schedules. Alternative schedules are just given as example, while
mulas when start working
in bottom line
rences that may appear
s are just given as example, while basic schedules are linked in further 3 statements model and other calculations
ASSUMPTIONS
Project name
Currency
Current year
Corporate income tax rate
Local inflation rate estimate
Discount rate
Long term cash flow growth rate
Headcount
Pepsi
Coca Cola
Estimate revenue growth rate that will be applied in projections
Gross margin rate that will be applied in projections
Minimum cash level at the end of period
$ mio
2023
#NAME?
Err:509
16
315000
82500
10%
54%
1400
HISTORICAL FINANCIALS AND RATIO ANALYSIS
Check 0 0 0
Balance sheet Coca Cola Pepsi Difference

$ mio
Cash 11,631 5,348 (6,283)

Account Receivable 3,487 10,163 6,676
Inventories 4,233 5,222 989
Other current assets 3,240 806 (2,434)
Current assets 22,591 21,539 (1,052)
Intangible assets 41,566 37,046 (4,520)

Tangible assets 9,841 24,291 14,450
Other investments and assets 18,765 9,311 (9,454)
Non-current assets 70,172 70,648 476
Total assets 92,763 92,187 (576)
Trade payables 15,865 20,852 4,987

Financial liabilities 2,772 3,141 369
Other liabilities 1,087 2,792 1,705
Current liabilities 19,724 26,785 7,061
Long term financial debt 36,377 35,657 (720)

Other long term liabilities 10,836 12,472 1,636
Long term fin. liabilities 47,213 48,129 916
Equity 25,826 17,273 (8,553)
Total Equity and liabilities 92,763 92,187 (576)
FCF 10,170 6,947 (3,223)
Income statement Coca Cola Pepsi Difference

$ mio
Revenue 45,030 91,617 46,587

COGS 18,399 42,204 23,805
Gross profit 26,631 49,413 22,782

0
Overhead - variable 7,424 33,288 25,864
Overhead - fixed 5,149 0 (5,149)
Overhead costs 12,573 33,288 20,715
0
Other (1,494) 1,423 2,917
EBITDA / Operating profit 15,552 14,702 (850)
Depreciation and amortization 1,947 3,437 1,490
EBIT 13,605 11,265 (2,340)
Interest and financial expenses 1,418 875 (543)

Financial income 783 (783)
EBT 12,970 10,390 (2,580)
0
Tax 2,198 2,100 (98)
0
Net income 10,772 8,290 (2,482)
Check
RATIO ANALYSIS
Profitability ratios Coca Cola Pepsi Difference
Gross profit margin 59.1% 53.9% 5%

EBITDA margin 35% 16% 18%
Net profit rate 24% 9% 15%
ROE 42% 48% -6%
ROCE 15% 13% 2%
ROA 12% 9% 3%
Revenue per employee 546 291 255
Profit per employee 131 26 104
EBITDA per employee 189 47 142
Free cash flow rate 23% 8% 15%
Liquidity Coca Cola Pepsi Difference
Net working capital (5,992) (7,453) 1,461

Curr. assets - Curr. liabilities 2,867 (5,246) 8,113
Current ratio 1.15 0.80 0.3
Cash ratio 0.59 0.20 0.4
Quick ratio 0.77 0.58 0.2
Working capital ratio 3% -24% 27%
Efficiency Coca Cola Pepsi Diff.
DSO 28 40 (12.2)
DIO 84 45 38.8
DPO 315 180 134.4
Cash conversion (202) (95) (107.8)
Asset turnover 0.5 0.99 (0.5)
Fixed asset turnover 0.6 1.3 (0.7)
EBITDA TO interest 11 17 (5.8)
Opex per employee 152 106 46.7
Structure Coca Cola Pepsi Diff.
Total COGS in Revenue 41% 46% 5%

COGS variable in revenue 41% 46% 5%
Overhead in revenue 28% 36% 8%
Interest expense in loans 3% 2% -1%
Equity ratio 28% 19% -9%
Debt ratio 72% 81% 9%
Fixed assets in total assets 76% 77% 1%
REVENUE AND COGS PLANNING
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OVERHEAD EXPENSES
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NET WORKING CAPITAL
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CASH FLOW PROJECTIONS
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INSTRUCTIONS

100 Input cell

100 Cell under formula

100 SUM formula applied

0 Accuracy check, should be 0 always

1 Fill blue cells only

Balance sheet Coca Cola Pepsi Difference

Cash 11,631 5,348 (6,283)

Intangible assets 41,566 37,046 (4,520)

Total assets 92,763 92,187 (576)

Trade payables 15,865 20,852 4,987

Long term financial debt 36,377 35,657 (720)

Equity 25,826 17,273 (8,553)

Total Equity and liabilities 92,763 92,187 (576)

FCF 10,170 6,947 (3,223)

Income statement Coca Cola Pepsi Difference

Revenue 45,030 91,617 46,587

Gross profit 26,631 49,413 22,782

EBITDA / Operating profit 15,552 14,702 (850)

Depreciation and amortization 1,947 3,437 1,490

EBIT 13,605 11,265 (2,340)

Interest and financial expenses 1,418 875 (543)

Profitability ratios Coca Cola Pepsi Difference

Gross profit margin 59.1% 53.9% 5%

Liquidity Coca Cola Pepsi Difference

Net working capital (5,992) (7,453) 1,461

Efficiency Coca Cola Pepsi Diff.

Structure Coca Cola Pepsi Diff.

Total COGS in Revenue 41% 46% 5%

Download full Corpor

6 Hours of video course

Download full Corpora

6 Hours of video course

Download full Corpo

6 Hours of video course

Download full Corpo

6 Hours of video course

Download full Corpora

6 Hours of video course

Download full Corpo

6 Hours of video course

Download full Corpor

6 Hours of video course

Download full Cor

6 Hours of video course

Download full Corp

6 Hours of video course

Download full Corp

6 Hours of video course

6 Hours of video course

6 Hours of video course

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