• PepsiCo average return on tangible equity for 2023 was -50.17, a 1.26% increase from 2022.
• PepsiCo average return on tangible equity for 2022 was -50.81, a 51.22% decline from 2021.
• PepsiCo average return on tangible equity for 2021 was -33.6, a 6.43% increase from 2020.

Return on tangible equity can be defined as the amount of net income returned as a percentage of shareholders equity, after subtracting intangible assets, goodwill and preferred equity.