Financials · PEP

PepsiCo Inc. (PEP) financials

For the twelve months ended Sep 5, 2026, PepsiCo Inc. reported $98.24B of revenue and $10.90B of net income.

Revenue, TTM
$98.24B
Revenue growth, YoY
+6.4%
Net income, TTM
$10.90B
Net margin
11.1%
EPS, diluted, TTM
$7.96
Cash
$10.68B
Total debt
$51.88B
P/E
17.68
P/S
1.96
Market cap
$192.61B
Annual revenue$93.92B
FY2016FY2025
Annual net income$8.24B
FY2016FY2025
Annual free cash flow$7.67B
FY2016FY2025

PEP revenue and earnings growth

PEP revenueQ3 2026$25.27B

Quarter YoY
+5.6%
QoQ
+4.5%
FY YoY
+2.3%
5Y CAGR
+5.9%
10Y CAGR
+4.1%

PEP revenue was $25.27B in fiscal Q3 2026 (ended Sep 5, 2026), up 5.6% from a year earlier and up 4.5% from the prior quarter. For the full fiscal 2025 it was $93.92B, up 2.3% from fiscal 2024. Compound annual growth was +5.9% over 5 years and +4.1% over 10 years. It rose in 9 of the last 10 fiscal years. Fiscal 2025 is the highest of the 15 fiscal years on file.

PEP net incomeQ3 2026$3.05B

Quarter YoY
+17.1%
QoQ
+2.2%
FY YoY
-14.0%
5Y CAGR
+3.0%
10Y CAGR
+4.2%

PEP net income was $3.05B in fiscal Q3 2026 (ended Sep 5, 2026), up 17.1% from a year earlier and up 2.2% from the prior quarter. For the full fiscal 2025 it was $8.24B, down 14.0% from fiscal 2024. Compound annual growth was +3.0% over 5 years and +4.2% over 10 years. It rose in 6 of the last 10 fiscal years.

PEP EPSQ3 2026$2.23

Quarter YoY
+17.4%
QoQ
+2.3%
FY YoY
-13.7%
5Y CAGR
+3.2%
10Y CAGR
+5.0%

PEP diluted EPS was $2.23 in fiscal Q3 2026 (ended Sep 5, 2026), up 17.4% from a year earlier and up 2.3% from the prior quarter. For the full fiscal 2025 it was $6.00, down 13.7% from fiscal 2024. Compound annual growth was +3.2% over 5 years and +5.0% over 10 years.

PEP free cash flowQ2 2026$1.50B

Quarter YoY
+41.3%
FY YoY
+6.7%
5Y CAGR
+3.8%
10Y CAGR
-0.5%

PEP free cash flow was $1.50B in fiscal Q2 2026 (ended Jun 13, 2026), up 41.3% from a year earlier. For the full fiscal 2025 it was $7.67B, up 6.7% from fiscal 2024. Compound annual growth was +3.8% over 5 years and -0.5% over 10 years. It rose in 4 of the last 10 fiscal years.

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Income statement

Income statement
Line item
Dec 27, 2025
Dec 28, 2024
Dec 30, 2023
Dec 31, 2022
Dec 25, 2021
Dec 26, 2020
Dec 28, 2019
Dec 29, 2018
Dec 30, 2017
Dec 31, 2016
Revenue$93.92B$91.85B$91.47B$86.39B$79.47B$70.37B$67.16B$64.66B$63.52B$62.80B
Cost of revenue$43.07B$41.74B$41.88B$40.58B$37.08B$31.80B$30.13B$29.38B$28.80B$28.22B
Gross profit$50.86B$50.11B$49.59B$45.82B$42.40B$38.58B$37.03B$35.28B$34.73B$34.58B
Research and development$839.00M$813.00M$804.00M$771.00M$752.00M$719.00M$711.00M$680.00M$737.00M$760.00M
Selling, general and admin$37.37B$37.19B$36.68B$34.46B$31.24B$28.45B$26.74B$25.17B$24.45B$24.77B
Operating income$11.50B$12.89B$11.99B$11.51B$11.16B$10.08B$10.29B$10.11B$10.28B$9.80B
Interest expense$1.12B$919.00M$819.00M$939.00M$1.86B$1.13B$935.00M$1.22B$1.15B$1.34B
Pre-tax income$10.24B$11.95B$11.42B$10.71B$9.82B$9.07B$9.31B$9.19B$9.60B$8.55B
Income tax$1.95B$2.32B$2.26B$1.73B$2.14B$1.89B$1.96B-$3.37B$4.69B$2.17B
Net income$8.24B$9.58B$9.07B$8.91B$7.62B$7.12B$7.31B$12.52B$4.86B$6.33B
EPS, basic$6.02$6.97$6.59$6.45$5.51$5.14$5.23$8.84$3.40$4.39
EPS, diluted$6.00$6.95$6.56$6.42$5.49$5.12$5.20$8.78$3.38$4.36
Diluted shares1.37B1.38B1.38B1.39B1.39B1.39B1.41B1.43B1.44B1.45B

Balance sheet

Balance sheet
Line item
Dec 27, 2025
Dec 28, 2024
Dec 30, 2023
Dec 31, 2022
Dec 25, 2021
Dec 26, 2020
Dec 28, 2019
Dec 29, 2018
Dec 30, 2017
Dec 31, 2016
Cash and equivalents$9.16B$8.55B$9.76B$5.10B$5.71B$8.25B$5.57B$10.77B$10.66B$9.17B
Short-term investments$371.00M$761.00M$292.00M$394.00M$392.00M$1.37B$229.00M$272.00M$8.90B$6.97B
Inventory$5.84B$5.31B$5.33B$5.22B$4.35B$4.17B$3.34B$3.13B$2.95B$2.72B
Current assets$27.95B$25.83B$26.95B$21.54B$21.78B$23.00B$17.64B$21.89B$31.03B$26.45B
Goodwill$18.92B$17.53B$17.73B$18.20B$18.38B$18.76B$15.50B$14.81B$14.74B$14.43B
Total assets$107.40B$99.47B$100.50B$92.19B$92.38B$92.92B$78.55B$77.65B$79.80B$73.49B
Current liabilities$32.76B$31.54B$31.65B$26.79B$26.22B$23.37B$20.46B$22.14B$20.50B$21.14B
Short-term debt$6.86B$7.08B$6.51B$3.41B$4.31B$3.78B$2.92B$4.03B$5.49B$6.89B
Long-term debt$42.32B$37.22B$37.59B$35.66B$36.03B$40.37B$29.15B$28.30B$33.80B$30.05B
Total debt$49.18B$44.31B$44.10B$39.07B$40.33B$44.15B$32.07B$32.32B$39.28B$36.95B
Total liabilities$86.85B$81.30B$81.86B$74.91B$76.23B$79.37B$63.68B$63.05B$68.82B$62.29B
Shareholders' equity$20.41B$18.04B$18.64B$17.27B$16.15B$13.55B$14.87B$14.60B$10.98B$11.20B

Cash flow

Cash flow
Line item
Dec 27, 2025
Dec 28, 2024
Dec 30, 2023
Dec 31, 2022
Dec 25, 2021
Dec 26, 2020
Dec 28, 2019
Dec 29, 2018
Dec 30, 2017
Dec 31, 2016
Operating cash flow$12.09B$12.51B$13.44B$10.81B$11.62B$10.61B$9.65B$9.41B$10.03B$10.66B
Capital expenditures$4.42B$5.32B$5.52B$5.21B$4.63B$4.24B$4.23B$3.28B$2.97B$3.04B
Free cash flow$7.67B$7.19B$7.92B$5.60B$6.99B$6.37B$5.42B$6.13B$7.06B$7.62B
Investing cash flow-$6.88B-$5.47B-$5.50B-$2.43B-$3.27B-$11.62B-$6.44B$4.56B-$4.40B-$7.15B
Financing cash flow-$4.98B-$7.56B-$3.01B-$8.52B-$10.78B$3.82B-$8.49B-$13.77B-$4.19B-$3.21B
Dividends paid$7.64B$7.23B$6.68B$6.17B$5.82B$5.51B$5.30B$4.93B$4.47B$4.23B
Share repurchases$1.00B$1.00B$1.00B$1.50B$106.00M$2.00B$3.00B$2.00B$2.00B$3.00B
Stock-based compensation$288.00M$362.00M$380.00M$343.00M$301.00M$264.00M$237.00M$256.00M$292.00M$284.00M
Depreciation and amortization$3.45B$3.16B$2.95B$2.76B$2.71B$2.55B$2.43B$2.40B$2.37B$2.37B

Key ratios

Key ratios
Line item
Dec 27, 2025
Dec 28, 2024
Dec 30, 2023
Dec 31, 2022
Dec 25, 2021
Dec 26, 2020
Dec 28, 2019
Dec 29, 2018
Dec 30, 2017
Dec 31, 2016
Revenue growth, YoY2.3%0.4%5.9%8.7%12.9%4.8%3.9%1.8%1.2%-0.4%
Net income growth, YoY-14.0%5.6%1.8%17.0%7.0%-2.7%-41.6%157.7%-23.3%16.1%
EPS growth, YoY-13.7%5.9%2.2%16.9%7.2%-1.5%-40.8%159.8%-22.5%18.8%
Gross margin54.1%54.6%54.2%53.0%53.3%54.8%55.1%54.6%54.7%55.1%
Operating margin12.2%14.0%13.1%13.3%14.0%14.3%15.3%15.6%16.2%15.6%
Net margin8.8%10.4%9.9%10.3%9.6%10.1%10.9%19.4%7.6%10.1%
Free cash flow margin8.2%7.8%8.7%6.5%8.8%9.1%8.1%9.5%11.1%12.1%
Return on equity40.4%53.1%48.7%51.6%47.2%52.5%49.2%85.7%44.2%56.5%
Return on assets7.7%9.6%9.0%9.7%8.2%7.7%9.3%16.1%6.1%8.6%
Current ratio0.850.820.850.800.830.980.860.991.511.25
Debt to equity2.412.462.372.262.503.262.162.213.583.30

Source: XBRL data PepsiCo Inc. files with the SEC, latest filing dated Oct 8, 2026 (see filings on SEC EDGAR). Provided for information only, not investment advice. Check the filing before relying on a number.

* Worked out from the filings rather than stated in them: Q4 is the full year less the first nine months.

Per-share figures are as filed. The filings show no stock split in these periods.

EPS growth is left out where the share count moved enough to suggest a split the filings do not show. Growth rates need a positive starting figure. CAGR is compound annual growth between fiscal years. The CSV holds every period on file, in full figures, from the same SEC filings.

PEP peers

CompanyRevenueGrowthNet incomeNet marginMarket cap
PEP$98.24B+6.4%$10.90B11.1%$192.61B
KO$51.05B+7.1%$14.63B28.7%$411.56B
KOFMXN 291.75B+4.3%MXN 23.84B8.2%$192.32B
BUD$59.32B-0.7%$6.84B11.5%$165.57B
MNST$9.58B+20.2%$2.17B22.7%$134.35B
DEO$27.76B-0.7%$1.96B7.1%$55.53B
CCEP€20.90B+2.3%€1.94B9.3%$52.72B
KDP$20.09B+27.5%$1.43B7.1%$49.84B
FMXMXN 840.95B+7.6%MXN 33.05B3.9%$44.24B

PEP FAQ

8 questions
  • What is PEP revenue?
    PepsiCo Inc. (PEP) reported $98.24B of revenue for the twelve months ended Sep 5, 2026. That is up 6.4% from the year before. Revenue for fiscal 2025 was $93.92B.
  • Is PEP profitable?
    Yes. PepsiCo Inc. earned $10.90B in net income for the twelve months ended Sep 5, 2026, a net margin of 11.1%.
  • How much cash and debt does PEP have?
    PepsiCo Inc. reported $10.68B in cash and cash equivalents and $51.88B of debt on its most recent balance sheet in SEC filings.
  • How fast is PEP revenue growing?
    PepsiCo Inc.'s revenue changed +2.3% in fiscal 2025, to $93.92B. Its compound annual growth rate was +5.9% over 5 years and +4.1% over 10 years.
  • What is PEP gross margin?
    PepsiCo Inc.'s gross profit was $53.22B on $98.24B of revenue for the twelve months ended Sep 5, 2026, a gross margin of 54.2%.
  • What is PEP earnings per share?
    Diluted earnings per share were $7.96 for the twelve months ended Sep 5, 2026, from SEC filings, restated for any stock split those filings show.
  • When did PEP last report financial results?
    The latest statements here come from PepsiCo Inc.'s 10-Q filed on Oct 8, 2026, covering the period ended Sep 5, 2026.
  • Where does this PEP financial data come from?
    Quantisnow builds these statements from the structured XBRL data PepsiCo Inc. files with the SEC. It is provided for information only and is not investment advice.