PEP (PepsiCo, Inc.) Stock Financials & Earnings

Company Info & Key Metrics

Consumer Defensive Beverages - Non-Alcoholic

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 A...

CEORamon Luis Laguarta

Country🇺🇸 United States

ExchangeNASDAQ

IPOJun 1, 1972

www.pepsico.com

Revenue$29.3B

YoY Growth+5.6%

QoQ Growth+22.6%

Net Income$2.5B

EPS$1.85

Free Cash Flow$4.7B

Gross Margin53.2%

Op. Margin12.1%

Net Margin8.7%

FCF Margin16.0%

Rev Multiple (TTM)2.3x

P/E Ratio (TTM)26.7x

Revenue & Profitability

Quarter	Revenue	Gross Profit	Op. Income
Q1 23	$17.8B	$9.9B	$2.6B
Q2 23	$22.3B	$12.2B	$3.7B
Q3 23	$23.5B	$12.8B	$4.0B
Q4 23	$27.9B	$14.8B	$1.7B
Q1 24	$18.3B	$10.0B	$2.7B
Q2 24	$22.5B	$12.6B	$4.0B
Q3 24	$23.3B	$12.9B	$3.9B
Q4 24	$27.8B	$14.6B	$2.3B
Q1 25	$17.9B	$10.0B	$2.6B
Q2 25	$22.7B	$12.4B	$1.8B
Q3 25	$23.9B	$12.8B	$3.6B
Q4 25	$29.3B	$15.6B	$3.6B

Revenue Breakdown

Valuation

Quarter	P/S	P/E
Q1 23	2.5x	33.4x
Q2 23	2.4x	27.9x
Q3 23	2.4x	26.6x
Q4 23	2.4x	24.3x
Q1 24	2.4x	24.0x
Q2 24	2.4x	23.1x
Q3 24	2.4x	23.5x
Q4 24	2.4x	23.0x
Q1 25	2.4x	23.5x
Q2 25	2.4x	29.2x
Q3 25	2.4x	30.5x
Q4 25	2.3x	26.7x

Operating Cash Flow

Quarter	Operating CF	Free CF
Q1 23	-$392M	-$973M
Q2 23	$2.4B	$1.5B
Q3 23	$5.6B	$4.6B
Q4 23	$5.8B	$2.8B
Q1 24	-$1.0B	-$1.7B
Q2 24	$2.4B	$1.3B
Q3 24	$4.9B	$3.8B
Q4 24	$6.3B	$3.8B
Q1 25	-$973M	-$1.6B
Q2 25	$2.0B	$1.1B
Q3 25	$4.5B	$3.5B
Q4 25	$6.6B	$4.7B

Capital Expenditures

CapEx

Quarter	CapEx
Q1 23	$581M
Q2 23	$932M
Q3 23	$1.0B
Q4 23	$3.0B
Q1 24	$614M
Q2 24	$1.1B
Q3 24	$1.1B
Q4 24	$2.5B
Q1 25	$603M
Q2 25	$904M
Q3 25	$992M
Q4 25	$1.9B

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q1 23	+10.2%	+39.2%
Q2 23	+10.4%	+2.8%
Q3 23	+6.7%	+4.4%
Q4 23	-0.5%	-3.7%
Q1 24	+2.3%	+2.1%
Q2 24	+0.8%	-1.1%
Q3 24	-0.6%	+0.0%
Q4 24	-0.2%	-2.4%
Q1 25	-1.8%	-1.3%
Q2 25	+1.0%	+13.5%
Q3 25	+2.7%	+4.7%
Q4 25	+5.6%	+1.0%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q1 23	$93M	0.5%
Q2 23	$86M	0.4%
Q3 23	$88M	0.4%
Q4 23	$113M	0.4%
Q1 24	$97M	0.5%
Q2 24	$86M	0.4%
Q3 24	$77M	0.3%
Q4 24	$102M	0.4%
Q1 25	$77M	0.4%
Q2 25	$54M	0.2%
Q3 25	$76M	0.3%
Q4 25	$81M	0.3%

OpEx Breakdown

Quarter	SG&A
Q1 23	$7.2B
Q2 23	$8.5B
Q3 23	$8.8B
Q4 23	$12.1B
Q1 24	$7.3B
Q2 24	$8.5B
Q3 24	$9.0B
Q4 24	$12.3B
Q1 25	$7.4B
Q2 25	$8.8B
Q3 25	$9.1B
Q4 25	$12.1B

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 23	$1.0B	$1.0B	$1.9B	$5.6B	$1.8B	$5.8B	$777M	—	—
Q2 23	$1.6B	$1.1B	$3.4B	$5.9B	$2.9B	$6.8B	$684M	—	—
Q3 23	$1.6B	$1.2B	$3.7B	$6.0B	$3.1B	$7.2B	$747M	—	—
Q1 24	$1.0B	$1.1B	$1.9B	$5.7B	$2.1B	$5.9B	$593M	—	—
Q2 24	$1.6B	$1.1B	$3.5B	$5.9B	$3.0B	$6.8B	$561M	—	—
Q3 24	$1.6B	$1.2B	$3.9B	$5.9B	$2.9B	$7.2B	$648M	—	—
Q1 25	$2.4B	$1.0B	—	—	$1.7B	$5.9B	—	$759M	$6.2B
Q3 25	$5.0B	$1.1B	—	—	$2.7B	$7.3B	—	$1.3B	$6.5B

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 (Segment)	PepsiCo Beverages North America	Quaker Foods North America	Asia Pacific Foods (Segment)	Europe, Middle East & Africa (Segment)	International Beverage Franchise	Latin America Foods (Segment)	PepsiCo Foods North America
Q1 23	$1.0B	$1.0B	$1.9B	$5.6B	$1.8B	$5.8B	$777M	—	—	—	—	—
Q2 23	$1.6B	$1.1B	$3.4B	$5.9B	$2.9B	$6.8B	$684M	—	—	—	—	—
Q3 23	$1.6B	$1.2B	$3.7B	$6.0B	$3.1B	$7.2B	$747M	—	—	—	—	—
Q1 24	$1.0B	$1.1B	$1.9B	$5.7B	$2.1B	$5.9B	$593M	—	—	—	—	—
Q2 24	$1.6B	$1.1B	$3.5B	$5.9B	$3.0B	$6.8B	$561M	—	—	—	—	—
Q3 24	$1.6B	$1.2B	$3.9B	$5.9B	$2.9B	$7.2B	$648M	—	—	—	—	—
Q1 25	—	—	—	—	—	$5.9B	—	$1.0B	$2.4B	$759M	$1.7B	$6.2B
Q3 25	—	—	—	—	—	$7.3B	—	$1.1B	$5.0B	$1.3B	$2.7B	$6.5B

War Chest

Quarter	Cash	Short-term Investments	Total
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

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change
Q1 23	1.38B	-0.1%
Q2 23	1.38B	+0.0%
Q3 23	1.38B	-0.1%
Q4 23	1.38B	-0.1%
Q1 24	1.38B	-0.1%
Q2 24	1.38B	-0.1%
Q3 24	1.38B	-0.1%
Q4 24	1.38B	+0.0%
Q1 25	1.38B	-0.1%
Q2 25	1.37B	-0.1%
Q3 25	1.37B	-0.1%
Q4 25	1.37B	-0.1%

Revenue Per Employee

Revenue / Employee

Year	Revenue/Employee	Employees
FY 14	$246K	271K
FY 15	$240K	263K
FY 16	$238K	264K
FY 17	$242K	263K
FY 18	$242K	267K
FY 19	$252K	267K
FY 20	$242K	291K
FY 21	$257K	309K
FY 22	$274K	315K
FY 23	$288K	318K
FY 24	$288K	319K
FY 25	$307K	306K