Overview
PEPSICO INC
Latest 10-K: FY2025, filed Feb 3, 2026 · Open the 10-K (Inline XBRL) ↗
- Revenue
- $93.92B
- 2.3%YoYup from FY2024
- TotalRevenue
- Gross profit
- $50.86B
- 1.5%YoYup from FY2024
- GrossProfit
- Operating income
- $11.50B
- 10.8%YoYdown from FY2024
- OperatingIncome
- Net income
- $8.24B
- 14.0%YoYdown from FY2024
- NetIncome
- Diluted EPS
- $6.00
- 13.7%YoYdown from FY2024
- EPSDiluted
- Diluted shares
- 1.37B
- 0.4%YoYdown from FY2024
- WeightedAvgSharesDiluted
At a glance
Growth
- PEPSICO INC reported revenue of $93.92B for fiscal 2025, up 2.3% from fiscal 2024.
- Revenue grew faster than the median S&P 500 member in 1 of the last 5 fiscal years.
Profitability
- Operating margin was 12.2% and net margin was 8.8%, against a median net margin of 12.8% across S&P 500 members for the same fiscal year.
Per share
- Diluted EPS was $6.00, down 13.7% from the prior year.
Written from the filed figures on this page by fixed rules — no AI.
Data as of Oct 24, 2026 · Sources: SEC EDGAR 10-K
Financial statements
Annual figures from the 10-K, most recent fiscal year first.
Income Statement
5 annual periodsChip: YoY change.
| Line item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | 4Y CAGR |
|---|---|---|---|---|---|---|
| Revenue | $93.92B2.3%up S&P 500 6.4% | $91.85B0.4%up S&P 500 4.5% | $91.47B5.9%up S&P 500 4.8% | $86.39B8.7%up S&P 500 10.3% | $79.47B12.9%up S&P 500 13.8% | 4.3% S&P 500 6.6% |
| Gross Profit Median of 315 / 498 | $50.86B1.5%up S&P 500 6.8% | $50.11B1.0%up S&P 500 5.5% | $49.59B8.2%up S&P 500 5.2% | $45.82B8.1%up S&P 500 8.3% | $42.40B9.9%up S&P 500 15.7% | 4.7% S&P 500 6.2% |
| Operating Income Median of 373 / 498 | $11.50B10.8%down S&P 500 7.3% | $12.89B7.5%up S&P 500 7.4% | $11.99B4.1%up S&P 500 4.9% | $11.51B3.1%up S&P 500 7.5% | $11.16B10.7%up S&P 500 23.5% | 0.7% S&P 500 7.2% |
| Net Income | $8.24B14.0%down S&P 500 4.8% | $9.58B5.6%up S&P 500 5.7% | $9.07B1.8%up S&P 500 1.9% | $8.91B17.0%up S&P 500 1.3% | $7.62B7.0%up S&P 500 33.9% | 2.0% S&P 500 4.1% |
| EPS (Diluted) | $6.0013.7%down S&P 500 6.2% | $6.955.9%up S&P 500 7.9% | $6.562.2%up S&P 500 1.9% | $6.4216.9%up S&P 500 1.5% | $5.497.2%up S&P 500 34.8% | 2.2% S&P 500 5.6% |
Balance Sheet
5 annual periodsChip: YoY change.
| Line item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | 4Y CAGR |
|---|---|---|---|---|---|---|
| Total Assets | $107.40B8.0%up S&P 500 5.6% | $99.47B1.0%down S&P 500 3.4% | $100.50B9.0%up S&P 500 4.1% | $92.19B0.2%down S&P 500 2.2% | $92.38B0.6%down S&P 500 6.7% | 3.8% S&P 500 4.7% |
| Total Liabilities Median of 357 / 498 | $86.85B6.8%up S&P 500 6.4% | $81.30B0.7%down S&P 500 1.9% | $81.86B9.3%up S&P 500 2.9% | $74.91B1.7%down S&P 500 2.0% | $76.23B4.0%down S&P 500 5.2% | 3.3% S&P 500 4.4% |
| Stockholders' Equity | $20.55B13.1%up S&P 500 6.8% | $18.17B2.5%down S&P 500 5.4% | $18.64B7.9%up S&P 500 7.3% | $17.27B6.9%up S&P 500 2.5% | $16.15B19.2%up S&P 500 9.0% | 6.2% S&P 500 6.1% |
| Cash & Equivalents | $9.16B7.7%up S&P 500 5.2% | $8.51B12.4%down S&P 500 1.9% | $9.71B96.0%up S&P 500 6.7% | $4.95B11.5%down S&P 500 -8.6% | $5.60B31.6%down S&P 500 -2.9% | 13.1% S&P 500 2.0% |
| Total Debt Median of 393 / 498 | $49.18B†11.0%up S&P 500 2.3% | $44.31B†0.5%up S&P 500 0.1% | $44.10B†12.9%up S&P 500 0.1% | $39.07B†3.1%down S&P 500 0.1% | $40.33B†8.6%down S&P 500 0.0% | 5.1% S&P 500 3.7% |
† Sum of short-term and long-term debt; the company files no total-debt line.
Cash Flow Statement
5 annual periodsChip: YoY change.
| Line item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | 4Y CAGR |
|---|---|---|---|---|---|---|
| Operating Cash Flow | $12.09B3.4%down S&P 500 6.3% | $12.51B7.0%down S&P 500 4.8% | $13.44B24.3%up S&P 500 9.9% | $10.81B6.9%down S&P 500 -0.7% | $11.62B9.5%up S&P 500 10.7% | 1.0% S&P 500 7.0% |
| Capital Expenditures | $4.42B17.0%down S&P 500 5.4% | $5.32B3.6%down S&P 500 2.8% | $5.52B6.0%up S&P 500 11.3% | $5.21B12.6%up S&P 500 14.0% | $4.63B9.1%up S&P 500 8.1% | -1.2% S&P 500 9.0% |
| Free Cash Flow Median of 378 / 498 | $7.67B6.7%up S&P 500 7.3% | $7.19B9.3%down S&P 500 6.1% | $7.92B41.4%up S&P 500 8.8% | $5.60B19.8%down S&P 500 -11.3% | $6.99B9.7%up S&P 500 10.2% | 2.4% S&P 500 4.9% |
n/m: not meaningful — the base (the prior year, or the first year for the CAGR) was zero or negative, or a per-share figure’s share basis changed (stock split). “—” means the figure is not available.
S&P 500 median = median of the companies in the index on Dec 31 of each fiscal year, from their own 10-K filings; a change counts only companies whose prior year was positive. Each median uses every member that reports the line item; where fewer than 80% do (banks and insurers file no gross profit), the row names how many. Published where at least 250 companies report it. Updated 2026-10-20. This compares reported figures, not share-price returns. Methodology
Ratios & valuation
FY2025Every ratio read two ways: Wall Street’s popular formula and the value investor’s stricter one. Same question, same unit. Pick a ratio.
Valuation · Earnings yield
What a dollar of market value earned
4.2%
Wall Street
on net earnings
FY2024 4.5%
3.9%
Value investor
on free cash flow
FY2024 3.4%
Gap −0.3 pts: Value-investor figure 0.3 points lower
How it’s calculated
Wall Street · on net earnings
Diluted EPS ÷ fiscal-year-end share price (1 ÷ P/E)
pe_ratio (ratio table)
P/E 24.0×Value investor · on free cash flow
(Operating cash flow − capital expenditures) ÷ market capitalisation (fiscal-year-end close × weighted-average diluted shares)
free cash flow ÷ market cap
Valuation · Enterprise yield
What a dollar of enterprise value earned
6.3%
Wall Street
on EBITDA
FY2024 6.5%
4.9%
Value investor
on EBIT
FY2024 5.2%
Gap −1.4 pts: Value-investor figure 1.4 points lower
How it’s calculated
Wall Street · on EBITDA
EBITDA ÷ enterprise value (1 ÷ EV/EBITDA)
ev_ebitda (ratio table)
EV/EBITDA 15.9×Value investor · on EBIT
Operating income (EBIT) ÷ enterprise value: depreciation counts as a real cost
operating income ÷ (ev_ebitda × ebitda)
Valuation · Book yield
Net assets behind a dollar of market value
10.4%
Wall Street
on book equity
FY2024 8.6%
0.6%
Value investor
on tangible book
FY2024 0.3%
Gap −9.8 pts: Value-investor figure 9.8 points lower
How it’s calculated
Wall Street · on book equity
Book value of equity ÷ market capitalisation (1 ÷ P/B)
pb_ratio (ratio table)
P/B 9.6×Value investor · on tangible book
Tangible book value (equity less goodwill and intangibles) ÷ market capitalisation
tangible_book_value_per_share ÷ (pb_ratio × book_value_per_share)
Quality · Return on capital
Profit earned on the money in the business
42.6%
Wall Street
ROE: net income ÷ equity
FY2024 52.0%
14.3%
Value investor
ROIC: after-tax operating profit ÷ invested capital
FY2024 17.8%
Gap −28.3 pts: Value-investor figure 28.3 points lower
How it’s calculated
Wall Street · ROE: net income ÷ equity
Net income ÷ average stockholders' equity (start and end of year), including noncontrolling interests. Buybacks shrink equity and lift it.
return_on_equity (ratio table)
Value investor · ROIC: after-tax operating profit ÷ invested capital
Operating profit after tax ÷ invested capital (total assets − cash − non-interest-bearing current liabilities), so leverage cannot flatter it
roic (ratio table)
Quality · Cash margin
Cash profit kept from each dollar of sales
15.9%
Wall Street
EBITDA margin
FY2024 17.5%
8.2%
Value investor
Free-cash-flow margin
FY2024 7.8%
Gap −7.7 pts: Value-investor figure 7.7 points lower
How it’s calculated
Wall Street · EBITDA margin
EBITDA ÷ revenue
ebitda ÷ revenue
Value investor · Free-cash-flow margin
(Operating cash flow − capital expenditures) ÷ revenue: taxes, interest, working capital and capex all paid
free cash flow ÷ revenue
Balance sheet · Liquidity
Short-term assets per dollar of bills due within a year
0.85×
Wall Street
Current ratio
FY2024 0.82×
0.67×
Value investor
Quick ratio, inventory excluded
FY2024 0.65×
Gap −0.18×: Value-investor figure 0.18 lower
How it’s calculated
Wall Street · Current ratio
Current assets ÷ current liabilities
current_ratio (ratio table)
Value investor · Quick ratio, inventory excluded
(Current assets − inventory) ÷ current liabilities
quick_ratio (ratio table)
Balance sheet · Debt cover
How many times one year of earnings repays all debt
0.30×
Wall Street
EBITDA ÷ total debt
FY2024 0.36×
0.16×
Value investor
FCF ÷ total debt
FY2024 0.16×
Gap −0.14×: Value-investor figure 0.14 lower
How it’s calculated
Wall Street · EBITDA ÷ total debt
EBITDA ÷ total debt (short-term + long-term)
ebitda ÷ total debt
Net debt/EBITDA 2.65×Value investor · FCF ÷ total debt
Free cash flow ÷ total debt: what is actually left to repay it
free cash flow ÷ total debt
Balance sheet · Interest cover
How many times earnings pay the year's interest
13.3×
Wall Street
EBITDA ÷ interest
FY2024 17.5×
10.3×
Value investor
EBIT ÷ interest
FY2024 14.0×
Gap −3.0×: Value-investor figure 3.0 lower
How it’s calculated
Wall Street · EBITDA ÷ interest
EBITDA ÷ interest expense
ebitda_interest_coverage (ratio table)
Value investor · EBIT ÷ interest
Operating income ÷ interest expense
interest_coverage (ratio table)
Each ratio measures one thing two ways, in the same unit: the popular formula, then a stricter one, so a lower figure is the stricter reading. Gap = value-investor figure minus Wall Street figure, from the figures shown.
Price-based ratios use the fiscal-year-end closing price. Free cash flow = operating cash flow − capital expenditures (we compute it; filings rarely report it). n/m = not meaningful (denominator ≤ 0); “—” = not reported. Each ratio’s formulas are under “How it’s calculated”.
Smart money
Showing the most recent 5 annual periods. Get longer history on the Pro plan, or the full history (1993–present) plus the smart-money dataset and webhooks on Institutional.
Peers, filings & research
Research Reports
No published research on PEP yet.
Reports appear here as analysts publish research on this company — built with Valuein's agentic workflows on data pinned to its SEC filing. Be the first: run equity_research_brief on PEP and publish the result to your public profile.
Cite this page
Data as of Oct 24, 2026. Canonical address: https://valuein.biz/data/PEP
Valuein. (2026, October 24). PEPSICO INC (PEP) financial statements, earnings power and smart-money summary [Data set]. Source: SEC EDGAR filings. https://valuein.biz/data/PEP
@misc{valuein_pep_2026,
author = {{Valuein}},
title = {PEPSICO INC (PEP) financial statements, earnings power and smart-money summary},
year = {2026},
howpublished = {\url{https://valuein.biz/data/PEP}},
note = {Data as of 2026-10-24; source: SEC EDGAR filings}
}10-K filed Feb 3, 2026 · accession 0000077476-26-000007
Agents: every figure Valuein's tools return carries a fact_id that traces to its SEC filing.
point-in-time · survivorship-free · every number traceable to its SEC filing