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Global snacks and beverage company behind Pepsi, Frito-Lay chips, Gatorade and Quaker foods.
Global snacks and beverage company behind Pepsi, Frito-Lay chips, Gatorade and Quaker foods.
Makes and sells snacks and drinks, with Frito-Lay snacks in North America the largest source of profit. It delivers snacks direct to stores with its own trucks and sells drinks both through its own bottling and through franchise bottlers.
Moat: wide (brand, scale, distribution). Unmatched direct-store-delivery network and iconic snack/beverage brand portfolio.
Headquarters: Purchase, New York, US · Founded: 1965 · Employees: 306,000
Size PepsiCo (PEP) is a United States Consumer Staples company (Food: Specialty/Candy) with a market value of $193B, the 60th largest of 3,117 United States companies the cockpit tracks. Shares closed at $141.34 on 6 Nov 2026.
Performance Over six months the shares fell 7.6%, against -1.7% for the median peer and -1.1% for the United States market (cap-weighted) — 6th lowest of 21 in its peer set.
Growth Revenue grew 6.4% over the last twelve months (peer median +6.3%); the operating margin is 15.8% (peer median 11.8%).
Valuation It trades at 16.6× forward earnings against a peer median of 18.6× (9th cheapest of 21).
Price implies For today's price to make sense, revenue must grow about -6% a year for seven years (Req g). Recent delivered growth is +6%, so the hurdle is -11 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 13.1 points above its cost of capital (6.2% WACC).
Credit PepsiCo has 62 bonds outstanding ($44.8B), rated A+ by the agencies and trading like AA at a weighted spread of 53 bp.
Short interest Short interest is 2.0% of the free float (15 Oct 2026).
Next results Next results expected around 11 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | $98.2B | $93.9B | $91.9B | $91.5B | $86.4B |
| Revenue growth | — | +2% | 0% | +6% | — |
| Gross profit | $53.2B | $51.1B | $50.4B | $49.8B | $45.6B |
| EBITDA | $20.0B | $19.0B | $18.1B | $17.0B | $14.4B |
| Net income | $10.9B | $8.24B | $9.58B | $9.07B | $8.91B |
| Free cash flow | $10.5B | $7.67B | $7.19B | $7.92B | $5.60B |
| Capital expenditure | $4.10B | $4.42B | $5.32B | $5.52B | $5.21B |
| Total debt | $51.9B | $53.0B | $47.8B | $47.1B | $41.5B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| PepsiCo PEP | $193B | -8% | +6% | 16% | 16.6× | -5.5% |
| Coca-Cola Company (The) KO | $412B | +23% | +8% | 32% | 27.6× | 2.8% |
| Mondelez International MDLZ | $83.6B | +8% | +6% | 18% | 19.9× | -2.7% |
| Kraft Heinz KHC | $29.2B | +5% | -2% | 17% | 12.5× | -3.9% |
| Keurig Dr Pepper KDP | $49.8B | +28% | +43% | 17% | 14.8× | 6.3% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | PEP | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +10.1% | +6.7% | 6th highest of 21 |
| 6-month return | -7.6% | -1.7% | 6th lowest of 21 |
| Distance from 52-week high | -16.0% | -17.8% | 10th highest of 21 |
| Revenue growth (TTM) | +6.4% | +6.3% | 11th highest of 21 |
| Operating margin | 15.8% | 11.8% | 10th highest of 21 |
| Forward P/E | 16.6× | 18.6× | 9th cheapest of 21 |
| Growth the price implies (Req g, 7 yrs) | -5.5% | 3.3% | 4th least demanding of 19 |
| Growth delivered (Del g) | +5.9% | +8.1% | 6th lowest of 19 |
| Hurdle (Req g minus delivered) | -11.5 pp | -5.6 pp | 5th least demanding of 19 |
| ROIC minus cost of capital | +13.1 pp | +3.9 pp | 5th highest of 21 |
| EV / EBITDA | 11.7× | 11.7× | 10th cheapest of 20 |
| Net debt / EBITDA | 2.0× | 1.3× | 9th most indebted of 20 |
| Bond spread | 53 bp | 83 bp | 2nd tightest of 10 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| PepsiCo PEP | United States | $193B | -8% | +6% | 16% | 16.6× | -5.5% | +5.9% |
| Mondelez International MDLZ | United States | $83.6B | +8% | +6% | 18% | 19.9× | -2.7% | +7.7% |
| Hershey Company (The) HSY | United States | $35.8B | -3% | +7% | 20% | 19.2× | -5.0% | +7.5% |
| Foshan Haitian Flavouring and Food 603288.SS | China | $29.8B | -7% | +6% | 27% | 28.9× | 7.6% | +4.9% |
| Ajinomoto 2802.T | Japan | $25.3B | -16% | +7% | 11% | 29.4× | 19.2% | +8.1% |
| Chocoladefabriken Lindt & Spruengli LISN.SW | Switzerland | $24.6B | -8% | +4% | 16% | 28.2× | 3.4% | +8.1% |
| J.M. Smucker Company (The) SJM | United States | $13.9B | +33% | +5% | 19% | 12.9× | -7.1% | +2.5% |
| McCormick & MKC | United States | $13.0B | 0% | +13% | 17% | 15.9× | 3.2% | +4.1% |
| Britannia Industries BRITANNIA.NS | India | $12.1B | -18% | +7% | 17% | 41.7× | 28.9% | +7.8% |
| Tata Consumer Products TATACONSUM.NS | India | $11.4B | -6% | +15% | 11% | 55.5× | 42.8% | +11.8% |
| Kikkoman 2801.T | Japan | $10.9B | +24% | +9% | 11% | 24.8× | 8.8% | +11.2% |
| Orkla ORK.OL | Norway | $10.8B | -6% | 0% | 10% | 15.5× | -1.1% | +8.7% |
| Barry Callebaut BARN.SW | Switzerland | $8.33B | +5% | +9% | 5% | 23.7× | -8.4% | +16.5% |
| Darling Ingredients DAR | United States | $7.92B | -20% | +16% | 9% | 7.3× | 9.0% | +11.4% |
| Lamb Weston LW | United States | $7.61B | +31% | +3% | 10% | 16.6× | 4.0% | +12.5% |
| Meiji 2269.T | Japan | $7.35B | +14% | +4% | 8% | 17.2× | n/a | n/a |
| Campbell's CPB | United States | $6.90B | +11% | -5% | 11% | 13.7× | -3.6% | +2.8% |
| Toyo Suisan Kaisha 2875.T | Japan | $6.74B | -4% | +7% | 17% | 14.5× | -5.0% | +9.5% |
| Ingredion INGR | United States | $5.78B | -15% | -1% | 12% | 9.7× | -7.8% | +3.8% |
| Nissin Foods 2897.T | Japan | $5.73B | +9% | +5% | 6% | 17.9× | n/a | n/a |
| Balchem BCPC | United States | $5.54B | +8% | +9% | 22% | 30.9× | 14.5% | +8.1% |
PepsiCo has 62 bonds outstanding with $44.8B face value. The agencies rate it A+; its bonds trade like AA. Weighted yield 4.99%, a spread of 53 bp over government bonds.