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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. In the quarter to September 2026, revenue grew 5.59%, EPS grew 137.0%, free cash flow grew 41.8% and total debt fell 3.30%, each against the same quarter a year earlier. Member of the S&P 500 and Nasdaq 100; dividend growth for twenty-five consecutive years, revenue growth for five.

125.97 2.37 −1.85%
Market cap
$175.2B
P/E
16.5×
Fwd P/E
17.5×
Dividend yield
4.61%
F-score
5/9
Altman Z
3.48
Beneish M
−2.54
Dividend safety
43/100
Overview Business Profile Financial Analysis Income Statement Balance Sheet Cash Flow Metrics & Ratios Filings 10-Q 10-K

Insider Decisions trades per month

Total sells 6.15
Totals in millions of $.
Dec 25 Mar 26 Jun 26 Sep 26
Buy — — — — — — — — — — — —
Sell — — — — 2 — — — 1 — — —
Insider Ownership 0.44%

Capital & Financial Ratios $m

Market Cap 175,170.00
Revenue 98,241.00
Net Income 10,967.00
Free Cash Flow 10,816.00
Net Debt 31,495.00
Current Ratio 0.94 (below 1: weak)
Debt/Equity 1.90
P/E ratio 16.51
Fwd P/E 17.50
P/S ratio 1.75
P/B ratio 7.65 (above 6: high)
Past 5Y EPS Growth 3.22%
This Y EPS Growth 4.23%
Next Y EPS Growth 3.58%
Next Y revenue growth 5.74%
Next 5Y EPS Growth 4.40%

Green and red mark values outside typical ranges. How we judge →

Valuation vs history

EV/Sales, ten years
EV/Sales is 2.1×, against a ten-year median of 2.8×; over the ten years it ranged from 2.1× in 2026 to 3.6× in 2022.
P/E against its own 10 years 9.53%
10-year low 10-year high
P/S against its own 10 years 0.22%
10-year low 10-year high
P/B against its own 10 years 0.22%
10-year low 10-year high
EV/Sales against its own 10 years 0.22%
10-year low 10-year high
EV/FCF against its own 10 years 58.12%
10-year low 10-year high

Dividends

Payout Ratio 0.73
Annual Dividend Rate 5.81
Annual Dividend Yield 4.61%
total individual payouts
2028 Powerpack
2027 Powerpack
2026 5.86
1.42
1.48
1.48
2025 5.62
1.36
1.42
1.42
1.42
2024 5.33
1.27
1.36
1.36
1.36
2023 4.95
1.15
1.27
1.27
1.27
2022 4.53
1.08
1.15
1.15
1.15
2021 4.25
1.02
1.08
1.08
1.08
2020 4.02
0.96
1.02
1.02
1.02
2019 3.79
0.93
0.96
0.96
0.96
2018 3.59
0.81
0.93
0.93
0.93
2017 3.17
0.75
0.81
0.81
0.81
2016 2.96
0.70
0.75
0.75
0.75
predictions special payouts not included in total or ratios

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 10,003 9,266 9,530 11,163
Receivables 10,815 10,333 11,506 13,623
Inventory 5,334 5,306 5,845 6,434
Other — — — —
26,950 25,826 27,949 32,559
2023 2024 2025 Q'26
Payables 25,137 24,454 25,903 25,306
ST’ Debt — — — —
Other — — — —
31,647 31,536 32,764 34,529

Compound Annual Growth %

10y 5y 3y
Sales 4.07% 5.94% 2.83%
Cash Flow 1.07% 2.64% 3.79%
Earnings 4.22% 2.96% (2.57%)
Book Value 5.50% 8.68% 5.96%

Revenue $m

Mar Jun Sep Dec Year
’26 19,443 24,181 25,274 — —
’25 17,919 22,726 23,937 29,343 93,925
’24 18,250 22,501 23,319 27,784 91,854
’23 17,846 22,322 23,453 27,850 91,471
’22 16,200 20,225 21,971 27,996 86,392
’21 14,820 19,217 20,189 25,248 79,474
’20 13,881 15,945 18,091 22,455 70,372
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Mar Jun Sep Dec Year
’26 41 2,324 5,585 — —
’25 (973) 1,969 4,472 6,619 12,087
’24 (1,041) 2,356 4,905 6,287 12,507
’23 (392) 2,411 5,611 5,812 13,442
’22 (174) 2,055 4,425 4,505 10,811
’21 (719) 3,059 4,294 4,982 11,616
’20 (749) 2,211 4,661 4,490 10,613
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Mar Jun Sep Dec Year
’26 (460) 1,563 4,687 — —
’25 (2,644) 1,102 407 4,959 8,200
’24 (1,648) 1,389 3,775 3,984 7,531
’23 (954) 1,499 4,596 2,898 8,122
’22 (693) 1,297 3,374 1,877 5,855
’21 (1,185) 2,242 3,341 2,759 7,157
’20 (1,228) 1,520 3,783 2,353 6,428
Fiscal quarters ending in the months shown.

EPS $

Mar Jun Sep Dec Year
’26 1.70 2.18 2.25 — —
’25 1.33 0.92 1.90 1.85 6.00
’24 1.48 2.23 2.13 1.11 6.95
’23 1.40 1.99 2.24 0.94 6.56
’22 3.06 1.03 1.95 0.37 6.42
’21 1.24 1.70 1.60 0.95 5.49
’20 0.96 1.18 1.65 1.33 5.12
Fiscal quarters ending in the months shown.

Target Price Range

Analyst price targets

Recommendation Rating

2.6
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to December

Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 Trend 2026e 2027e 2028e
Price, $
Price, $ Low 93.25 101.06 95.94 106.73 101.42 128.32 153.37 155.83 149.71 127.60

Analyst estimates 2026–2028

Powerpack
High 110.94 120.57 122.51 140.45 148.77 174.02 186.84 196.88 183.41 160.15
People
People Employees 264,000 263,000 267,000 267,000 291,000 309,000 315,000 318,000 319,000 306,000
Revenue/emp, $m 0.24 0.24 0.24 0.25 0.24 0.26 0.27 0.29 0.29 0.31
Income, $m
Income, $m Revenue 62,799 63,525 64,661 67,161 70,372 79,474 86,392 91,471 91,854 93,925
Gross margin, % 55.06 54.67 54.56 55.13 54.82 53.35 53.03 54.21 54.55 54.15
EBT 8,553 9,602 9,189 9,312 9,069 9,821 10,705 11,417 11,946 10,244
EBT margin, % 13.62 15.12 14.21 13.87 12.89 12.36 12.39 12.48 13.01 10.91
Net income 6,379 4,908 12,559 7,353 7,175 7,679 8,978 9,155 9,626 8,295
Depreciation 2,368 2,369 2,399 2,844 3,026 3,215 3,280 3,518 3,815 4,178
Per share, $
Per share, $ Revenue 43.64 44.58 45.70 48.01 50.81 57.51 62.60 66.48 66.90 68.61
Earnings 4.40 3.41 8.78 5.20 5.12 5.49 6.42 6.56 6.95 6.00
Cash flow 7.41 7.04 6.65 6.90 7.66 8.41 7.83 9.77 9.11 8.83
Capex (2.04) (1.96) (2.22) (2.90) (3.02) (3.23) (3.59) (3.87) (3.62) (2.84)
Free cash flow 5.37 5.08 4.43 3.99 4.64 5.18 4.24 5.90 5.49 5.99
Book value 7.78 7.71 10.32 10.63 9.78 11.69 12.52 13.54 13.23 15.01
Shares, m 1,439 1,425 1,415 1,399 1,385 1,382 1,380 1,376 1,373 1,369
Valuation, ×
Valuation, × P/E 23.95 34.93 12.54 26.33 25.53 29.64 33.79 23.30 21.88 23.92
P/S 2.40 2.65 2.42 2.85 2.75 2.83 2.69 2.45 2.27 2.09
P/B 13.27 15.11 10.71 12.86 15.16 14.86 14.33 12.77 11.49 9.56
EV/Sales 2.62 2.87 2.69 3.20 3.17 3.18 3.02 2.74 2.58 2.44
EV/FCF 21.31 25.21 27.71 38.41 19.95 22.19 26.58 18.80 31.43 61.80
Cash, $m
Cash, $m Operating cash flow 10,663 10,030 9,415 9,649 10,613 11,616 10,811 13,442 12,507 12,087
Capex (2,941) (2,789) (3,148) (4,062) (4,185) (4,459) (4,956) (5,320) (4,976) (3,887)
Free cash flow 7,722 7,241 6,267 5,587 6,428 7,157 5,855 8,122 7,531 8,200
Balance, $m
Balance, $m Working capital 5,315 10,525 (245) (2,816) (371) (4,437) (5,246) (4,697) (5,710) (4,815)
Total debt 30,053 33,796 28,295 29,148 40,370 36,026 35,657 37,595 37,224 42,321
Net debt 13,928 14,286 17,305 23,410 30,819 30,038 30,309 27,592 27,958 32,791
Shareholders’ equity 11,199 10,981 14,602 14,868 13,552 16,151 17,273 18,637 18,171 20,547
Returns, %
Returns, % ROA 8.84 6.34 15.89 9.37 8.30 8.22 9.66 9.42 9.58 7.97
ROIC 24.39 25.42 19.80 16.80 14.20 15.10 15.12 16.20 17.46 13.47
ROE 53.81 43.20 97.23 49.64 50.11 51.29 53.31 50.54 52.04 42.56
Negative figures in brackets.

All 10 years →

Fiscal years to Dec 2025 · latest quarter Sep 2026 · fundamentals updated 9 Oct 2026

Charts ten years each

PepsiCo, Inc. vs peers in Beverages Non Alcoholic (Q) = latest quarter vs a year earlier

Company Market cap P/E Fwd P/E Revenue growth (Q) EPS growth (Q) FCF growth (Q) Gross margin (Q) EBIT margin (Q) Compare
KO CocaCola Company (The) $377.6B 26.4× 24.2× +6.74% (above 0%: growing) +15.73% (above 0%: growing) +51.42% (above 0%: growing) 62.89% 34.92% Compare
PEP PepsiCo, Inc. $175.2B 16.5× 17.5× +5.59% (above 0%: growing) +136.96% (above 0%: growing) +41.83% (above 0%: growing) 54.42% 16.86%
MNST Monster Beverage Corporation $85.5B 40.0× 39.7× +20.17% (above 0%: growing) +20.00% (above 0%: growing) +8.01% (above 0%: growing) 55.95% 29.18% Compare
CCEP Coca-Cola Europacific Partners $45.9B 14.2× 18.7× +36.01% (above 0%: growing) +209.23% (above 0%: growing) −33.36% (below 0%: shrinking) 35.80% 0.00% Compare
KDP Keurig Dr Pepper, Inc $42.5B 32.1× 15.0× +75.57% (above 0%: growing) −90.00% (below 0%: shrinking) +120.43% (above 0%: growing) 41.95% 8.59% Compare
COKE Coca-Cola Consolidated, Inc. $12.8B 26.1× — (loss-making) +10.61% (above 0%: growing) +11.16% (above 0%: growing) −15.07% (below 0%: shrinking) 37.93% 13.22% Compare
CELH Celsius Holdings Inc. $6.9B 119× 18.9× +10.64% (above 0%: growing) −57.58% (below 0%: shrinking) +479.43% (above 0%: growing) 48.13% 9.20% Compare
KOF Coca Cola Femsa S.A.B. de C.V. $5.8B 17.3× 15.7× +17.31% (above 0%: growing) +30.77% (above 0%: growing) −24.76% (below 0%: shrinking) 47.09% 13.96% Compare
COCO Vita Coco Company, Inc. $3.2B 30.6× 43.2× +28.08% (above 0%: growing) +115.00% (above 0%: growing) +287.22% (above 0%: growing) 48.72% 29.21% Compare
Median of peers $27.7B 28.5× 18.9× +18.74% +17.87% +29.72% 47.61% 13.59%

All 17 Beverages Non Alcoholic stocks →

PEP metrics, ten years each

PepsiCo, Inc. (PEP) key facts

  • Concern: Net income was $8.3 billion, or $6.00 per share (basic), a net margin of 8.77%.
  • Strength: PepsiCo, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $93.9 billion, up 2.25% from fiscal 2024.
  • PepsiCo, Inc. (PEP) is a Beverages Non Alcoholic company in the Consumer Defensive sector, listed on Nasdaq.
  • As of October 9, 2026, PEP traded at $125.97, a market capitalization of $175.2 billion.
  • At that price the stock trades at 16.5× trailing-twelve-month earnings and 1.8× sales; its P/E is higher than 10% of its own readings over the past ten years.
  • PepsiCo, Inc. pays an annual dividend of $5.81 per share, a yield of 4.61%, with a payout ratio of 72.8%.
  • Return on equity was 42.6% and debt-to-equity 1.90.
  • Its Piotroski F-score is 5 out of 9 and its Altman Z-score is 3.48 (safe zone) for fiscal 2025.

Source: company filings (standardised) and stockrow calculations · fundamentals updated Oct 9, 2026.

Financial Analysis (summary)

Updated

PepsiCo reported revenue of $93.9 billion in FY2025, while net income was $8.3 billion in FY2025 and free cash flow was $8.2 billion in FY2025. Revenue increased 2.25% in FY2025 against FY2024, whereas diluted EPS declined −13.7% in FY2025 against FY2024. Total debt was $42.3 billion in FY2025 and net debt was $32.8 billion in FY2025.

In Q2 FY2026, revenue was $24.2 billion, operating income was $4.0 billion and net income was $3.0 billion. Revenue rose 6.40% in Q2 FY2026 against Q2 FY2025, while diluted EPS rose 137.0% in Q2 FY2026 against Q2 FY2025. Free cash flow was $1.6 billion in Q2 FY2026.

PepsiCo, Inc. (PEP) Latest News

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stockrow.com/PEP · Data as of Oct 9, 2026 · For information only; not investment advice. · © 2026 stockrow.com