PEP

MKT CAP:$212B

PepsiCo, Inc.

Market Cap

$212B

Consumer Defensive·Beverages - Non-Alcoholic·🇺🇸 United States·NASDAQ

Consumer Def.·Beverages·🇺🇸·NASDAQ

Stock Price

$154.93+$12.70 (+8.93%)

Apr 24, 2026

Company Details

PepsiCo, Inc. manufactures, markets, distributes, and sells various beverages and convenient foods worldwide. The company operates through seven segments: Frito-Lay North America; Quaker Foods North America; PepsiCo Beverages North America;...

CEO

Ramon Luis Laguarta

IPO Date

Jun 1, 1972

Website

www.pepsico.com

Key Metrics TTM

Revenue

$81.8B

-0.2% YoY

Net Income

$10.0B

EPS (Diluted)

$7.21

Free Cash Flow

$2.7B

Revenue / Share

$59.69

Gross Margin

55.0%

Operating Margin

16.1%

Net Margin

12.2%

FCF Margin

3.2%

P/S

2.6x

P/E

21.3x

Earnings Reports

Q1 2026

Apr 15, 2026

NEW

$19.4B+8.5%EPS $1.70

Q1 2025

Apr 23, 2025

$17.9BEPS $1.33

FY 2024

Feb 3, 2025

$91.9BEPS $6.95

Q2 2024

Jul 10, 2024

$22.5BEPS $2.23

Q3 2022

Oct 11, 2022

$22.0BEPS $1.95

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q1 17	$12.0B	$6.8B	$1.9B
Q2 17	$15.7B	$8.7B	$2.9B
Q1 18	$12.6B	$6.9B	$1.8B
Q2 18	$16.1B	$8.8B	$3.0B
Q3 18	$16.5B	$9.0B	$2.8B
Q4 18	$19.5B	$10.6B	$2.4B
Q2 19	$16.4B	$9.0B	$2.7B
Q3 19	$17.2B	$9.5B	$2.9B
Q3 20	$18.1B	$9.9B	$3.0B
Q4 20	$22.5B	$12.0B	$2.8B
Q4 21	$25.2B	$13.1B	$2.6B
Q1 22	$16.2B	$8.8B	$5.3B
Q3 22	$22.0B	$11.7B	$3.4B
Q2 24	$22.5B	$12.6B	$4.0B
Q1 25	$17.9B	$10.0B	$2.6B
Q1 26	$19.4B	$10.7B	$3.2B

Valuation

Quarter	P/S	P/E
Q1 17	2.5x	23.8x
Q2 17	2.6x	24.5x
Q1 18	2.5x	24.5x
Q2 18	2.6x	22.6x
Q3 18	2.6x	20.6x
Q4 18	2.4x	12.4x
Q2 19	2.7x	14.0x
Q3 19	2.7x	14.1x
Q3 20	2.7x	14.6x
Q4 20	2.7x	24.5x
Q4 21	2.9x	31.7x
Q1 22	2.7x	23.1x
Q3 22	2.8x	23.8x
Q2 24	2.7x	20.1x
Q1 25	2.6x	16.9x
Q1 26	2.5x	20.7x

Operating Cash Flow

Quarter	Operating CF	Free CF
Q1 17	-$193M	-$510M
Q2 17	$2.4B	$1.9B
Q1 18	-$1.3B	-$1.7B
Q2 18	$2.4B	$1.8B
Q3 18	$3.6B	$3.0B
Q4 18	$4.7B	$3.0B
Q2 19	$1.7B	$1.0B
Q3 19	$3.7B	$2.9B
Q3 20	$4.7B	$3.8B
Q4 20	$4.5B	$2.3B
Q4 21	$5.0B	$2.6B
Q1 22	-$174M	-$696M
Q3 22	$4.4B	$3.4B
Q2 24	$2.4B	$1.3B
Q1 25	-$973M	-$1.6B
Q1 26	$41M	-$406M

Capital Expenditures

Quarter	CapEx
Q1 17	$317M
Q2 17	$561M
Q1 18	$352M
Q2 18	$593M
Q3 18	$633M
Q4 18	$1.7B
Q2 19	$725M
Q3 19	$792M
Q3 20	$886M
Q4 20	$2.2B
Q4 21	$2.3B
Q1 22	$522M
Q3 22	$1.1B
Q2 24	$1.1B
Q1 25	$603M
Q1 26	$447M

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q1 17	+1.6%	-0.6%
Q2 17	+2.0%	+2.9%
Q1 18	-21.6%	-18.6%
Q2 18	-17.6%	-23.8%
Q3 18	+36.8%	+33.9%
Q4 18	+24.3%	+33.6%
Q2 19	+30.9%	+27.6%
Q3 19	+6.8%	+9.7%
Q3 20	+9.7%	+10.5%
Q4 20	+15.0%	+14.8%
Q4 21	+53.5%	+65.3%
Q1 22	-5.7%	-23.7%
Q3 22	+21.4%	+23.5%
Q2 24	+0.2%	-6.0%
Q1 25	-29.0%	-32.4%
Q1 26	+20.0%	+48.4%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q1 17	$72M	0.6%
Q2 17	$75M	0.5%
Q1 18	$80M	0.6%
Q2 18	$61M	0.4%
Q3 18	$58M	0.4%
Q4 18	$62M	0.3%
Q2 19	$61M	0.4%
Q3 19	$51M	0.3%
Q3 20	$85M	0.5%
Q4 20	$78M	0.3%
Q4 21	$86M	0.3%
Q1 22	$81M	0.5%
Q3 22	$77M	0.4%
Q2 24	$86M	0.4%
Q1 25	$77M	0.4%
Q1 26	$93M	0.5%

OpEx Breakdown

Quarter	SG&A
Q1 17	$4.9B
Q2 17	$5.7B
Q1 18	$5.1B
Q2 18	$5.8B
Q3 18	$6.1B
Q4 18	$8.2B
Q2 19	$6.3B
Q3 19	$6.6B
Q3 20	$6.9B
Q4 20	$9.2B
Q4 21	$10.6B
Q1 22	$6.6B
Q3 22	$8.3B
Q2 24	$8.5B
Q1 25	$7.4B
Q1 26	$7.5B

Revenue Segments

Quarter	Africa, Middle East and South Asia	Asia Pacific, Australia and New Zealand, and China Region	Europe (Segment)	Frito Lay North America	Latin America (Segment)	PepsiCo Beverages North America	Quaker Foods North America	International Beverage Franchise	PepsiCo Foods North America
Q1 22	$1.0B	$1.0B	$1.8B	$4.8B	$1.5B	$5.4B	$713M	—	—
Q3 22	$1.7B	$1.2B	$3.6B	$5.6B	$2.5B	$6.6B	$713M	—	—
Q2 24	$1.6B	$1.1B	$3.5B	$5.9B	$3.0B	$6.8B	$561M	—	—
Q1 25	$2.4B	$1.0B	—	—	$1.7B	$5.9B	—	$759M	$6.2B
Q1 26	$2.8B	$1.1B	—	—	$1.9B	$6.4B	—	$824M	$6.3B

Revenue by Geography

Quarter	Africa, Middle East and South Asia	Asia Pacific, Australia and New Zealand, and China Region	Europe	Frito Lay North America	Latin America	PepsiCo Beverages North America	Quaker Foods North America	Latin America (Segment)	Asia Pacific Foods (Segment)	Europe, Middle East & Africa (Segment)	International Beverage Franchise	Latin America Foods (Segment)	PepsiCo Foods North America
Q3 20	$1.3B	$897M	$3.3B	$4.4B	$1.7B	$6.0B	$608M	—	—	—	—	—	—
Q1 22	$1.0B	$1.0B	$1.8B	$4.8B	—	$5.4B	$713M	$1.5B	—	—	—	—	—
Q3 22	$1.7B	$1.2B	$3.6B	$5.6B	—	$6.6B	$713M	$2.5B	—	—	—	—	—
Q2 24	$1.6B	$1.1B	$3.5B	$5.9B	—	$6.8B	$561M	$3.0B	—	—	—	—	—
Q1 25	—	—	—	—	—	$5.9B	—	—	$1.0B	$2.4B	$759M	$1.7B	$6.2B
Q1 26	—	—	—	—	—	$6.4B	—	—	$1.1B	$2.8B	$824M	$1.9B	$6.3B

War Chest

Quarter	Cash	Short-term Investments	Total
Q2 22	$5.4B	$287M	$5.7B
Q3 22	$6.4B	$327M	$6.7B
Q4 22	$5.0B	$394M	$5.3B
Q1 23	$4.8B	$434M	$5.2B
Q2 23	$6.1B	$338M	$6.5B
Q3 23	$10.0B	$266M	$10.3B
Q4 23	$9.7B	$292M	$10.0B
Q1 24	$8.0B	$303M	$8.3B
Q2 24	$6.4B	$315M	$6.7B
Q3 24	$7.3B	$743M	$8.1B
Q4 24	$8.5B	$761M	$9.3B
Q1 25	$8.3B	$314M	$8.6B
Q2 25	$7.6B	$342M	$8.0B
Q3 25	$8.1B	$535M	$8.7B
Q4 25	$9.2B	$371M	$9.5B
Q1 26	$10.5B	$353M	$10.8B

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q1 17	1.44B	-0.3%	-1.3%
Q2 17	1.44B	+0.1%	-1.0%
Q1 18	1.43B	-0.8%	-1.5%
Q2 18	1.43B	-0.3%	-1.2%
Q3 18	1.42B	-0.1%	-1.1%
Q4 18	1.42B	-0.3%	-1.5%
Q2 19	1.41B	-0.8%	-1.5%
Q3 19	1.41B	-0.3%	-1.5%
Q3 20	1.39B	-1.1%	-2.4%
Q4 20	1.39B	-0.1%	-2.3%
Q4 21	1.39B	+0.1%	-1.3%
Q1 22	1.39B	+0.1%	-1.0%
Q3 22	1.39B	-0.3%	-0.2%
Q2 24	1.38B	-0.6%	-0.6%
Q1 25	1.38B	-0.2%	-1.0%
Q1 26	1.37B	-0.4%	-1.4%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q1 17	$45.6K	264K
Q2 17	$59.5K	264K
Q1 18	$47.8K	263K
Q2 18	$61.2K	263K
Q3 18	$62.7K	263K
Q4 18	$73.1K	267K
Q2 19	$61.6K	267K
Q3 19	$64.4K	267K
Q3 20	$67.8K	267K
Q4 20	$77.2K	291K
Q4 21	$81.7K	309K
Q1 22	$52.4K	309K
Q3 22	$71.1K	309K
Q2 24	$70.8K	318K
Q1 25	$56.2K	319K
Q1 26	$63.5K	306K

Revenue / Employee