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PepsiCo, Inc.

PEP Consumer Defensive Beverages Non Alcoholic

PepsiCo, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $93.9 billion, up 2.25% from fiscal 2024.

Revenue
+5.59%
EPS
+17.4%
Free cash flow
+1,051.6%
Total debt
−3.30%

Quarter to September 2026, against a year earlier

140.99 1.72 −1.21%
Market cap
$194.5B
P/E
17.9×
Fwd P/E
16.5×
Dividend yield
4.07%
F-score
5/9
Altman Z
3.48
Beneish M
−2.54
Dividend safety
43/100
Overview Business Profile Earnings & Analysis
Financials
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PepsiCo, Inc. (PEP) Debt to equity

Alert me on Debt to equity

PepsiCo, Inc.'s debt to equity at the end of the quarter to 30 September 2026 was 1.9×, down 0.2× from fiscal 2025 (2.1×). Over the past ten years it has ranged from 1.9× (fiscal 2018) to 3.1× (fiscal 2017); the current reading is higher than 45% of that period. That is above the Beverages Non Alcoholic industry median of 0.0× and above the Consumer Defensive sector median of 0.2×.

Debt to equity, annual

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Annual newest first

Period Debt to equity Change
FY2025 2.1× 0.55%
FY2024 2.0× 1.55%
FY2023 2.0× (2.28%)
FY2022 2.1× (7.46%)
FY2021 2.2× (25.12%)
FY2020 3.0× 51.95%
FY2019 2.0× 1.18%
FY2018 1.9× (37.04%)
FY2017 3.1× 14.69%
FY2016 2.7× 10.51%

Quarterly newest first

Period Debt to equity Change
Sep 2026 1.9× (0.86%)
Jun 2026 1.9× (3.22%)
Mar 2026 2.0× (4.02%)
Dec 2025 2.1× (8.75%)
47 more quarters

Against its own ten years

Low 1.9× High 3.1×
Ten-year median 2.1×
Current reading's percentile 45

Debt to equity against peers

Company Debt to equity
COKE Coca-Cola Consolidated, Inc. compare −7.4×
MNST Monster Beverage Corporation compare 0.0×
CELH Celsius Holdings Inc. compare 0.0×
COCO Vita Coco Company, Inc. compare 0.0×
KOF Coca Cola Femsa S.A.B. de C.V. compare 0.5×
KDP Keurig Dr Pepper, Inc compare 0.7×
KO CocaCola Company (The) compare 1.1×
CCEP Coca-Cola Europacific Partners compare 1.4×
PEP PepsiCo, Inc. 1.9×
Beverages Non Alcoholic industry median 0.0×
Consumer Defensive sector median 0.2×
Market median 0.1×

What Debt to equity is

Debt to Equity Ratio shows how much a company relies on borrowed money compared with the money its shareholders have in the business.

(Long Term Debt (Total) + Current Part of Debt) ÷ Shareholders Equity (Total)

The full definition of Debt to equity →

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