What is PepsiCo, Inc.'s earnings per share (EPS)?

PepsiCo, Inc. (PEP) reported diluted earnings per share of $6.00 for fiscal year 2025. This represents a -13.7% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

PepsiCo, Inc. (PEP) Financials

PEP

Trailing 12 months to June 13, 2026

Revenue $96.9B +5.6% YoY

Net Income $10.5B +38.4% YoY

EPS (Diluted) $6.00 FY2025 annual

Free Cash Flow $9.3B +31.4% YoY

Market Cap $171.8B as of Oct 3, 2026

Price / Sales 1.8x on $96.9B revenue, trailing 12 months to June 13, 2026

Price / Earnings 16.4x on $10.5B net income, trailing 12 months to June 13, 2026

Price / Book 7.8x on $22.1B equity, Q2 FY2026

A multiple compares the market's price with a filed figure; it says what the market pays, not how the business is doing. The market capitalization is the vendor's as of Oct 3, 2026; every other figure is from the SEC filings on this page. Not financial advice.

Source SEC Filings (10-K/10-Q) Latest period Q2 FY2026, ended Jun 13, 2026 Reported Jul 9, 2026 Currency USD FYE December

Newest figures come from the 10-Q for Q2 FY2026, filed Jul 9, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the PEP SEC filings page.

PepsiCo, Inc. (PEP) reported $96.9B in revenue over the twelve months to Jun 13, 2026, up 5.6% from the prior twelve months. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 15 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Rhea AI PEP FY2025 2026-10-03

PepsiCo’s cash-generative model continues to expand, but FY2025 reveals margin pressure and greater reliance on liabilities.

In FY2025, operating cash flow of $12.1B exceeded net income of $8.2B, showing that reported earnings converted into cash rather than depending mainly on accruals. Yet free cash flow of $7.7B was almost fully matched by dividends of $7.6B; after capital spending, the business retained little internally generated cash.

Revenue reached $93.9B in FY2025, continuing the top-line expansion seen since FY2023, but that growth did not translate proportionally into operating profit. Operating margin fell to 12.2% while gross margin remained 54.2%, pointing to pressure in operating expenses or other costs below the gross-profit line rather than a broad deterioration in product-level economics.

The combination of a 0.9x current ratio and 2.1x debt-to-equity means short-term obligations exceed current assets while liabilities remain a substantial part of the financing structure. Long-term debt reached $42.3B in FY2025, reinforcing that the company funds its operations and distributions with more than internally retained cash.

Financial Health Signals

Financial Health Score 50/100

Scored against operating companies for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →

Health score ≠ stock price. This rates the quality of PepsiCo, Inc.'s business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.

Profitability

PepsiCo, Inc. has an operating margin of 12.2%, meaning the company retains $12 of operating profit per $100 of revenue. This strong profitability earns a score of 77/100, reflecting efficient cost management and pricing power. This is down from 14.0% the prior year.

Growth

PepsiCo, Inc.'s revenue grew a modest 2.3% year-over-year to $93.9B. This slow but positive growth earns a score of 35/100.

Leverage

PepsiCo, Inc. has elevated debt relative to equity (D/E of 2.07), meaning the company relies heavily on borrowed funds. This high leverage results in a low score of 29/100, reflecting increased financial risk.

Liquidity

PepsiCo, Inc.'s current ratio of 0.85 is below the typical benchmark, resulting in a score of 13/100. This tight liquidity could limit financial flexibility if cash inflows slow.

Cash Flow

PepsiCo, Inc. has a free cash flow margin of 8.2%, earning a moderate score of 59/100. The company generates positive cash flow after capital investments, but with room for improvement.

Returns

PepsiCo, Inc. earns a strong 40.4% return on equity (ROE), meaning it generates $40 of profit for every $100 of shareholders' equity. This efficient capital use earns a returns score of 88/100. This is down from 53.1% the prior year.

Altman Z-Score Safe

3.31

PepsiCo, Inc. scores 3.31, well above the 2.99 safe threshold. This indicates low bankruptcy risk based on profitability, leverage, and asset efficiency.

Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.

Piotroski F-Score Neutral

5/9

PepsiCo, Inc. passes 5 of 9 financial strength tests. 3 of 4 profitability signals pass, 2 of 3 leverage/liquidity signals pass, neither operating efficiency signal passes.

Earnings Quality Cash-Backed

1.47x

For every $1 of reported earnings, PepsiCo, Inc. generates $1.47 in operating cash flow ($12.1B OCF vs $8.2B net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.

Interest Coverage Safe

10.26x

PepsiCo, Inc. earns $10.26 in operating income for every $1 of interest expense ($11.5B vs $1.1B). This wide margin provides strong safety for debt servicing, even if earnings decline temporarily.

Key Financial Metrics

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Earnings & Revenue

Revenue

$24.2B

YoY+6.4%

QoQ+24.4%

5Y CAGR+4.7%

10Y CAGR+4.6%

PepsiCo, Inc. generated $24.2B in revenue in Q2 2026. This represents an increase of 6.4% from the same quarter a year earlier. Against the prior quarter it is up 24.4%.

EBITDA

$4.9B

YoY+89.5%

QoQ+24.4%

5Y CAGR+5.4%

10Y CAGR+3.4%

PepsiCo, Inc.'s EBITDA was $4.9B in Q2 2026, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 89.5% from the same quarter a year earlier. Against the prior quarter it is up 24.4%.

Net Income

$3.0B

YoY+136.0%

QoQ+28.1%

5Y CAGR+4.8%

10Y CAGR+4.0%

PepsiCo, Inc. reported $3.0B in net income in Q2 2026. This represents an increase of 136.0% from the same quarter a year earlier. Against the prior quarter it is up 28.1%.

EPS (Diluted)

$2.18

YoY+137.0%

QoQ+28.2%

PepsiCo, Inc. earned $2.18 per diluted share (EPS) in Q2 2026. This represents an increase of 137.0% from the same quarter a year earlier. Against the prior quarter it is up 28.2%.

Cash & Balance Sheet

Free Cash Flow

$1.5B

YoY+41.3%

QoQ+470.7%

5Y CAGR-7.5%

10Y CAGR-4.0%

PepsiCo, Inc. generated $1.5B in free cash flow in Q2 2026, representing cash available after capex. This represents an increase of 41.3% from the same quarter a year earlier. Against the prior quarter it is up 470.7%.

Cash & Debt

$10.3B

YoY+34.3%

QoQ-2.1%

5Y CAGR+13.5%

10Y CAGR+0.6%

PepsiCo, Inc. held $10.3B in cash against $42.6B in long-term debt as of Q2 2026.

Dividends Per Share

$1.48

YoY+4.0%

QoQ+4.0%

PepsiCo, Inc. paid $1.48 per share in dividends in Q2 2026. This represents an increase of 4.0% from the same quarter a year earlier. Against the prior quarter it is up 4.0%.

Shares Outstanding

1.36B

YoY-0.3%

QoQ-0.1%

5Y CAGR-0.3%

10Y CAGR-0.5%

PepsiCo, Inc. had 1.36B shares outstanding in Q2 2026. This represents a decrease of 0.3% from the same quarter a year earlier. Against the prior quarter it is down 0.1%.

Margins & Returns

Gross Margin

54.2%

YoY-0.4pp

QoQ-1.0pp

5Y change+0.4pp

10Y change-1.4pp

PepsiCo, Inc.'s gross margin was 54.2% in Q2 2026, indicating the percentage of revenue retained after direct costs. This is down 0.4 percentage points from the same quarter a year earlier. Against the prior quarter it is down 1.0 percentage points.

Operating Margin

16.6%

YoY+8.8pp

QoQ+0.1pp

5Y change+0.4pp

10Y change-2.6pp

PepsiCo, Inc.'s operating margin was 16.6% in Q2 2026, reflecting core business profitability. This is up 8.8 percentage points from the same quarter a year earlier. Against the prior quarter it is up 0.1 percentage points.

Net Margin

12.3%

YoY+6.8pp

QoQ+0.4pp

5Y change+0.1pp

10Y change-0.7pp

PepsiCo, Inc.'s net profit margin was 12.3% in Q2 2026, showing the share of revenue converted to profit. This is up 6.8 percentage points from the same quarter a year earlier. Against the prior quarter it is up 0.4 percentage points.

Return on Equity

13.5%

YoY+6.6pp

QoQ+2.6pp

5Y change-1.9pp

10Y change-2.7pp

PepsiCo, Inc.'s ROE was 13.5% in Q2 2026, measuring profit generated per dollar of shareholder equity. This is up 6.6 percentage points from the same quarter a year earlier. Against the prior quarter it is up 2.6 percentage points.

Capital Allocation

Share Buybacks

$297.0M

YoY-4.5%

QoQ+63.2%

10Y CAGR-8.3%

PepsiCo, Inc. spent $297.0M on share buybacks in Q2 2026, returning capital to shareholders by reducing shares outstanding. This represents a decrease of 4.5% from the same quarter a year earlier. Against the prior quarter it is up 63.2%.

Capital Expenditures

$819.0M

YoY-9.4%

QoQ+83.2%

5Y CAGR-0.4%

10Y CAGR+4.4%

PepsiCo, Inc. invested $819.0M in capex in Q2 2026, funding long-term assets and infrastructure. This represents a decrease of 9.4% from the same quarter a year earlier. Against the prior quarter it is up 83.2%.

R&D Spending

Not reported for Q2 2026.

PEP Income Statement

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

PEP quarterly income statement

Metric	TTM	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K	FY1110-K
Revenue	$96.9B	$93.9B+2.3%	$91.9B+0.4%	$91.5B+5.9%	$86.4B+8.7%	$79.5B+12.9%	$70.4B+4.8%	$67.2B+3.9%	$64.7B+1.8%	$63.5B+1.2%	$62.8B-0.4%	$63.1B-5.4%	$66.7B+0.4%	$66.4B+1.4%	$65.5B-1.5%	$66.5B
Cost of Revenue	$44.6B	$43.1B+3.2%	$41.7B-0.3%	$41.9B+3.2%	$40.6B+9.4%	$37.1B+16.6%	$31.8B+5.5%	$30.1B+2.6%	$29.4B+2.0%	$28.8B+2.0%	$28.2B-1.8%	$28.7B-8.0%	$31.2B0.0%	$31.2B-0.2%	$31.3B-1.0%	$31.6B
Gross Profit	$52.3B	$50.9B+1.5%	$50.1B+1.0%	$49.6B+8.2%	$45.8B+8.1%	$42.4B+9.9%	$38.6B+4.2%	$37.0B+5.0%	$35.3B+1.6%	$34.7B+0.4%	$34.6B+0.7%	$34.3B-3.2%	$35.4B+0.8%	$35.2B+2.8%	$34.2B-2.0%	$34.9B
R&D Expenses	N/A	$839.0M+3.2%	$813.0M+1.1%	$804.0M+4.3%	$771.0M+2.5%	$752.0M+4.6%	$719.0M+1.1%	$711.0M+4.6%	$680.0M-7.7%	$737.0M-3.0%	$760.0M+0.8%	$754.0M+5.0%	$718.0M+8.0%	$665.0M+20.5%	$552.0M+5.1%	$525.0M
SG&A Expenses	$37.8B	$37.4B+0.5%	$37.2B+1.4%	$36.7B+6.4%	$34.5B+10.3%	$31.2B+9.8%	$28.5B+6.4%	$26.7B+6.2%	$25.2B+2.9%	$24.5B-1.3%	$24.8B+0.7%	$24.6B-4.5%	$25.8B+1.6%	$25.4B+1.5%	$25.0B-0.7%	$25.1B
Operating Income	$14.4B	$11.5B-10.8%	$12.9B+7.5%	$12.0B+4.1%	$11.5B+3.1%	$11.2B+10.7%	$10.1B-2.1%	$10.3B+1.8%	$10.1B-1.6%	$10.3B+4.8%	$9.8B+17.4%	$8.4B-12.8%	$9.6B-1.3%	$9.7B+6.5%	$9.1B-5.4%	$9.6B
EBITDA	N/A	$14.9B-6.8%	$16.0B+7.5%	$14.9B+4.6%	$14.3B+2.9%	$13.9B+9.9%	$12.6B-0.7%	$12.7B+1.7%	$12.5B-1.1%	$12.6B+3.9%	$12.2B+13.0%	$10.8B-11.8%	$12.2B-1.3%	$12.4B+4.8%	$11.8B-4.6%	$12.4B
Interest Expense	$1.1B	$1.1B+22.0%	$919.0M+12.2%	$819.0M-12.8%	$939.0M-49.6%	$1.9B+65.2%	$1.1B+20.6%	$935.0M-23.3%	$1.2B+5.9%	$1.2B-14.2%	$1.3B+38.4%	$970.0M+6.7%	$909.0M-0.2%	$911.0M+1.3%	$899.0M+5.0%	$856.0M
Income Tax	$2.6B	$1.9B-16.0%	$2.3B+2.6%	$2.3B+31.0%	$1.7B-19.4%	$2.1B+13.1%	$1.9B-3.3%	$2.0B+158.1%	-$3.4B-171.8%	$4.7B+115.9%	$2.2B+12.0%	$1.9B-11.7%	$2.2B+4.5%	$2.1B+0.7%	$2.1B-11.9%	$2.4B
Net Income	$10.5B	$8.2B-14.0%	$9.6B+5.6%	$9.1B+1.8%	$8.9B+17.0%	$7.6B+7.0%	$7.1B-2.7%	$7.3B-41.6%	$12.5B+157.7%	$4.9B-23.3%	$6.3B+16.1%	$5.5B-16.3%	$6.5B-3.4%	$6.7B+9.1%	$6.2B-4.1%	$6.4B
EPS (Basic)	N/A	$6.02-13.6%	$6.97+5.8%	$6.59+2.2%	$6.45+17.1%	$5.51+7.2%	$5.14-1.7%	$5.23-40.8%	$8.84+160.0%	$3.40-22.6%	$4.39+18.3%	$3.71-13.9%	$4.31-1.4%	$4.37+10.4%	$3.96-2.9%	$4.08
EPS (Diluted)	—	$6.00-13.7%	$6.95+5.9%	$6.56+2.2%	$6.42+16.9%	$5.49+7.2%	$5.12-1.5%	$5.20-40.8%	$8.78+159.8%	$3.38-22.5%	$4.36+18.8%	$3.67-14.1%	$4.27-1.2%	$4.32+10.2%	$3.92-2.7%	$4.03
Diluted Shares (Avg)	N/A	1.37B-0.4%	1.38B-0.4%	1.38B-0.3%	1.39B-0.1%	1.39B-0.2%	1.39B-1.1%	1.41B-1.3%	1.43B-0.9%	1.44B-1.0%	1.45B-2.2%	1.49B-2.8%	1.53B-2.1%	1.56B-1.0%	1.57B-1.4%	1.60B

Metric	Q2'2610-Q	Q1'2610-Q	Q4'2510-Q	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q
Revenue	$24.2B+6.4%	$19.4B+8.5%	$29.3B+5.6%	$23.9B+2.7%	$22.7B+1.0%	$17.9B-1.8%	$27.8B-0.2%	$23.3B-0.6%
Cost of Revenue	$11.1B+7.4%	$8.7B+9.9%	$13.7B+4.1%	$11.1B+6.9%	$10.3B+3.9%	$7.9B-3.9%	$13.2B+0.6%	$10.4B-2.6%
Gross Profit	$13.1B+5.5%	$10.7B+7.4%	$15.6B+7.0%	$12.8B-0.8%	$12.4B-1.3%	$10.0B-0.1%	$14.6B-1.0%	$12.9B+1.1%
SG&A Expenses	$9.1B+3.6%	$7.5B+1.5%	$12.1B-2.3%	$9.1B+1.1%	$8.8B+2.8%	$7.4B+1.7%	$12.3B+1.7%	$9.0B+3.0%
Operating Income	$4.0B+124.9%	$3.2B+24.4%	$3.6B+58.1%	$3.6B-7.8%	$1.8B-55.8%	$2.6B-4.9%	$2.3B+33.7%	$3.9B-3.6%
EBITDA	$4.9B+89.5%	$4.0B+21.1%	$4.7B+41.6%	$4.4B-4.8%	$2.6B-45.5%	$3.3B-2.7%	$3.3B+25.2%	$4.6B-2.7%
Interest Expense	$230.0M-11.5%	$301.0M+14.0%	$333.0M+26.1%	$264.0M+20.5%	$260.0M+11.1%	$264.0M+30.7%	$264.0M+21.7%	$219.0M+9.0%
Income Tax	$848.0M+190.4%	$632.0M+26.7%	$445.0M+61.8%	$713.0M-4.8%	$292.0M-62.4%	$499.0M-4.0%	$275.0M+31.6%	$749.0M-1.4%
Net Income	$3.0B+136.0%	$2.3B+26.9%	$2.5B+66.8%	$2.6B-11.2%	$1.3B-59.0%	$1.8B-10.2%	$1.5B+17.0%	$2.9B-5.2%
EPS (Basic)	$2.18+137.0%	$1.70+26.9%	N/A	$1.90-10.8%	$0.92-58.9%	$1.34-10.1%	N/A	$2.13-5.3%
EPS (Diluted)	$2.18+137.0%	$1.70+27.8%	N/A	$1.90-10.8%	$0.92-58.7%	$1.33-10.1%	N/A	$2.13-4.9%
Diluted Shares (Avg)	1.37B-0.3%	1.37B-0.4%	N/A	1.37B-0.4%	1.37B-0.4%	1.38B-0.3%	N/A	1.38B-0.4%

Not reported in any period shown, so not listed: R&D Expenses.

PEP Balance Sheet

PEP quarterly balance sheet

Metric	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K	FY1110-K
Total Assets	$107.4B+8.0%	$99.5B-1.0%	$100.5B+9.0%	$92.2B-0.2%	$92.4B-0.6%	$92.9B+18.3%	$78.5B+1.2%	$77.6B-2.7%	$79.8B+8.6%	$73.5B+5.5%	$69.7B-1.2%	$70.5B-9.0%	$77.5B+3.8%	$74.6B+2.4%	$72.9B
Current Assets	$27.9B+8.2%	$25.8B-4.2%	$26.9B+25.1%	$21.5B-1.1%	$21.8B-5.3%	$23.0B+30.4%	$17.6B-19.4%	$21.9B-29.4%	$31.0B+17.3%	$26.4B+14.8%	$23.0B+11.5%	$20.7B-6.9%	$22.2B+18.6%	$18.7B+7.3%	$17.4B
Cash & Equivalents	$9.2B+7.7%	$8.5B-12.4%	$9.7B+96.0%	$5.0B-11.5%	$5.6B-31.6%	$8.2B+48.6%	$5.5B-36.8%	$8.7B-17.8%	$10.6B+15.9%	$9.2B+0.7%	$9.1B+48.3%	$6.1B-34.6%	$9.4B+48.9%	$6.3B+54.8%	$4.1B
Short-Term Investments	$371.0M-51.2%	$761.0M+160.6%	$292.0M-25.9%	$394.0M+0.5%	$392.0M-71.3%	$1.4B+496.5%	$229.0M-15.8%	$272.0M-96.9%	$8.9B+27.7%	$7.0B+139.2%	$2.9B+12.4%	$2.6B+755.4%	$303.0M-5.9%	$322.0M-10.1%	$358.0M
Inventory	$5.8B+10.2%	$5.3B-0.5%	$5.3B+2.1%	$5.2B+20.1%	$4.3B+4.2%	$4.2B+25.0%	$3.3B+6.7%	$3.1B+6.1%	$2.9B+8.2%	$2.7B+0.1%	$2.7B-13.5%	$3.1B-7.8%	$3.4B-4.8%	$3.6B-6.4%	$3.8B
Long-Term Investments	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0
Goodwill	$18.9B+7.9%	$17.5B-1.1%	$17.7B-2.6%	$18.2B-1.0%	$18.4B-2.0%	$18.8B+21.0%	$15.5B+4.7%	$14.8B+0.4%	$14.7B+2.2%	$14.4B+1.8%	$14.2B-5.3%	$15.0B-9.9%	$16.6B-2.1%	$17.0B+1.0%	$16.8B
Total Liabilities	$86.9B+6.8%	$81.3B-0.7%	$81.9B+9.3%	$74.9B-1.7%	$76.2B-4.0%	$79.4B+24.6%	$63.7B+1.0%	$63.0B-8.4%	$68.8B+10.5%	$62.3B+8.1%	$57.6B+8.8%	$53.0B-0.2%	$53.1B+1.6%	$52.2B+0.5%	$52.0B
Current Liabilities	$32.8B+3.9%	$31.5B-0.4%	$31.6B+18.2%	$26.8B+2.2%	$26.2B+12.2%	$23.4B+14.2%	$20.5B-7.6%	$22.1B+8.0%	$20.5B-3.0%	$21.1B+20.2%	$17.6B-2.8%	$18.1B+1.4%	$17.8B+4.4%	$17.1B-5.9%	$18.2B
Non-Current Liabilities	$54.1B+8.7%	$49.8B-0.9%	$50.2B+4.3%	$48.1B-3.8%	$50.0B-10.7%	$56.0B+29.6%	$43.2B+5.6%	$40.9B-15.3%	$48.3B+17.4%	$41.2B+2.7%	$40.1B+14.9%	$34.9B-1.1%	$35.3B+0.3%	$35.1B+3.9%	$33.8B
Long-Term Debt	$42.3B+13.7%	$37.2B-1.0%	$37.6B+5.4%	$35.7B-1.0%	$36.0B-10.8%	$40.4B+38.5%	$29.1B+3.0%	$28.3B-16.3%	$33.8B+12.5%	$30.1B+2.9%	$29.2B+22.6%	$23.8B-2.1%	$24.3B+3.4%	$23.5B+14.5%	$20.6B
Total Equity	$20.4B+13.1%	$18.0B-2.5%	$18.5B+7.9%	$17.1B+6.9%	$16.0B+19.2%	$13.5B-9.0%	$14.8B+1.8%	$14.5B+31.4%	$11.0B-1.8%	$11.2B-6.8%	$12.1B-31.3%	$17.6B-28.0%	$24.4B+8.9%	$22.4B+8.3%	$20.7B
Retained Earnings	$72.8B+0.7%	$72.3B+3.2%	$70.0B+3.3%	$67.8B+4.0%	$65.2B+2.7%	$63.4B+2.4%	$61.9B+3.3%	$59.9B+13.5%	$52.8B+0.6%	$52.5B+4.1%	$50.5B+2.8%	$49.1B+5.8%	$46.4B+7.6%	$43.2B+7.0%	$40.3B

Metric	Q2'2610-Q	Q1'2610-Q	Q4'2510-Q	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q
Total Assets	$112.2B+6.5%	$110.6B+8.8%	$107.4B+8.0%	$106.6B+6.0%	$105.3B+5.8%	$101.7B+1.7%	$99.5B-1.0%	$100.5B+0.6%
Current Assets	$32.8B+16.2%	$30.9B+17.6%	$27.9B+8.2%	$28.7B+7.0%	$28.2B+9.8%	$26.3B+1.1%	$25.8B-4.2%	$26.9B-6.3%
Cash & Equivalents	$10.3B+34.3%	$10.5B+26.7%	$9.2B+7.7%	$8.1B+11.2%	$7.6B+20.1%	$8.3B+2.7%	$8.5B-12.4%	$7.3B-27.0%
Short-Term Investments	$465.0M+36.0%	$353.0M+12.4%	$371.0M-51.2%	$535.0M-28.0%	$342.0M+8.6%	$314.0M+3.6%	$761.0M+160.6%	$743.0M+179.3%
Inventory	$6.7B+3.8%	$6.2B+9.7%	$5.8B+10.2%	$6.1B+8.0%	$6.5B+10.2%	$5.7B+1.6%	$5.3B-0.5%	$5.6B+1.5%
Long-Term Investments	$0	$0	$0	$0	$0	$0	$0	$0
Goodwill	$19.1B+0.7%	$19.0B+3.6%	$18.9B+7.9%	$18.8B+6.4%	$19.0B+7.4%	$18.4B+4.1%	$17.5B-1.1%	$17.7B-1.0%
Total Liabilities	$89.9B+3.6%	$89.1B+7.1%	$86.9B+6.8%	$87.0B+7.5%	$86.8B+8.5%	$83.2B+2.9%	$81.3B-0.7%	$80.9B-0.1%
Current Liabilities	$35.1B-3.5%	$34.5B+9.4%	$32.8B+3.9%	$31.5B+3.9%	$36.4B+16.8%	$31.5B+4.2%	$31.5B-0.4%	$30.3B-7.2%
Non-Current Liabilities	$54.8B+8.8%	$54.6B+5.7%	$54.1B+8.7%	$55.5B+9.7%	$50.4B+3.2%	$51.7B+2.1%	$49.8B-0.9%	$50.6B+4.7%
Long-Term Debt	$42.6B+8.4%	$42.6B+8.0%	$42.3B+13.7%	$44.1B+14.6%	$39.3B+7.3%	$39.4B+4.5%	$37.2B-1.0%	$38.5B+7.4%
Total Equity	$22.1B+20.0%	$21.4B+16.3%	$20.4B+13.1%	$19.4B-0.3%	$18.4B-5.3%	$18.4B-3.5%	$18.0B-2.5%	$19.5B+3.4%
Retained Earnings	$74.1B+3.6%	$73.2B+1.3%	$72.8B+0.7%	$72.2B-0.6%	$71.5B0.0%	$72.2B+2.7%	$72.3B+3.2%	$72.6B+3.0%

Not reported in any period shown, so not listed: Accounts Receivable.

PEP Cash Flow Statement

PEP quarterly cash flow statement

Metric	TTM	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K	FY1110-K
Operating Cash Flow	$13.5B	$12.1B-3.4%	$12.5B-7.0%	$13.4B+24.3%	$10.8B-6.9%	$11.6B+9.5%	$10.6B+10.0%	$9.6B+2.5%	$9.4B-6.1%	$10.0B-5.9%	$10.7B-1.9%	$10.9B+3.4%	$10.5B+8.4%	$9.7B+14.3%	$8.5B-5.2%	$8.9B
Depreciation & Amortization	N/A	$3.5B+9.2%	$3.2B+7.2%	$2.9B+6.7%	$2.8B+2.0%	$2.7B+6.4%	$2.5B+4.8%	$2.4B+1.4%	$2.4B+1.3%	$2.4B0.0%	$2.4B-2.0%	$2.4B-8.0%	$2.6B-1.4%	$2.7B-1.0%	$2.7B-1.8%	$2.7B
Stock-Based Compensation	N/A	$288.0M-20.4%	$362.0M-4.7%	$380.0M+10.8%	$343.0M+14.0%	$301.0M+14.0%	$264.0M+11.4%	$237.0M-7.4%	$256.0M-12.3%	$292.0M+2.8%	$284.0M-3.7%	$295.0M-0.7%	$297.0M-2.0%	$303.0M+9.0%	$278.0M-14.7%	$326.0M
Capital Expenditures	$4.2B	$4.4B-17.0%	$5.3B-3.6%	$5.5B+6.0%	$5.2B+12.6%	$4.6B+9.1%	$4.2B+0.2%	$4.2B+28.9%	$3.3B+10.5%	$3.0B-2.3%	$3.0B+10.2%	$2.8B-3.5%	$2.9B+2.3%	$2.8B+3.0%	$2.7B-18.7%	$3.3B
Free Cash Flow	$9.3B	$7.7B+6.7%	$7.2B-9.3%	$7.9B+41.4%	$5.6B-19.8%	$7.0B+9.7%	$6.4B+17.6%	$5.4B-11.7%	$6.1B-13.1%	$7.1B-7.4%	$7.6B-6.0%	$8.1B+6.0%	$7.6B+10.9%	$6.9B+19.6%	$5.8B+2.9%	$5.6B
Investing Cash Flow	-$4.1B	-$6.9B-25.7%	-$5.5B+0.4%	-$5.5B-126.1%	-$2.4B+25.7%	-$3.3B+71.9%	-$11.6B-80.5%	-$6.4B-241.0%	$4.6B+203.7%	-$4.4B+38.4%	-$7.2B-100.3%	-$3.6B+27.7%	-$4.9B-88.1%	-$2.6B+12.6%	-$3.0B+46.5%	-$5.6B
Financing Cash Flow	-$7.0B	-$5.0B+34.1%	-$7.6B-151.1%	-$3.0B+64.7%	-$8.5B+20.9%	-$10.8B-382.3%	$3.8B+145.0%	-$8.5B+38.3%	-$13.8B-228.9%	-$4.2B-30.4%	-$3.2B+21.9%	-$4.1B+50.2%	-$8.3B-118.1%	-$3.8B-14.6%	-$3.3B+35.6%	-$5.1B
Dividends Paid	$7.8B	$7.6B+5.7%	$7.2B+8.2%	$6.7B+8.3%	$6.2B+6.1%	$5.8B+5.6%	$5.5B+3.9%	$5.3B+7.6%	$4.9B+10.2%	$4.5B+5.8%	$4.2B+4.6%	$4.0B+8.3%	$3.7B+8.6%	$3.4B+3.9%	$3.3B+4.7%	$3.2B
Share Buybacks	$985.0M	$1.0B0.0%	$1.0B0.0%	$1.0B-33.3%	$1.5B+1315.1%	$106.0M-94.7%	$2.0B-33.3%	$3.0B+50.0%	$2.0B0.0%	$2.0B-33.3%	$3.0B-40.0%	$5.0B-0.2%	$5.0B+67.0%	$3.0B-6.8%	$3.2B+29.3%	$2.5B

Metric	Q2'2610-Q	Q1'2610-Q	Q4'2510-Q	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q
Operating Cash Flow	$2.3B+18.0%	$41.0M+104.2%	$6.6B+5.3%	$4.5B-8.8%	$2.0B-16.4%	-$973.0M+6.5%	$6.3B+8.2%	$4.9B-12.6%
Depreciation & Amortization	$897.0M+11.2%	$742.0M+8.5%	$1.1B+9.0%	$803.0M+11.2%	$807.0M+12.2%	$684.0M+6.7%	$1.0B+6.9%	$722.0M+2.4%
Stock-Based Compensation	$69.0M+27.8%	$93.0M+20.8%	N/A	$76.0M-1.3%	$54.0M-37.2%	$77.0M-20.6%	N/A	$77.0M-12.5%
Capital Expenditures	$819.0M-9.4%	$447.0M-25.9%	$1.9B-22.4%	$992.0M-13.7%	$904.0M-16.8%	$603.0M-1.8%	$2.5B-17.2%	$1.1B+12.2%
Free Cash Flow	$1.5B+41.3%	-$406.0M+74.2%	$4.7B+23.1%	$3.5B-7.3%	$1.1B-16.1%	-$1.6B+4.8%	$3.8B+34.9%	$3.8B-18.1%
Investing Cash Flow	-$915.0M+68.4%	-$477.0M+61.3%	-$1.6B+34.5%	-$1.1B+26.5%	-$2.9B-224.6%	-$1.2B-119.2%	-$2.5B+19.5%	-$1.5B-58.1%
Financing Cash Flow	-$1.8B-1892.0%	$1.7B-6.0%	-$4.0B-74.6%	-$2.9B-20.7%	$100.0M+103.4%	$1.8B+17580.0%	-$2.3B+25.3%	-$2.4B-263.1%
Dividends Paid	$1.9B+4.7%	$2.0B+4.5%	$1.9B+4.6%	$1.9B+4.6%	$1.9B+7.0%	$1.9B+6.5%	$1.9B+6.8%	$1.9B+6.9%
Share Buybacks	$297.0M-4.5%	$182.0M-0.5%	$248.0M+3.3%	$258.0M-13.7%	$311.0M-1.3%	$183.0M+25.3%	$240.0M-3.6%	$299.0M+0.3%

PEP Financial Ratios

Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

PEP quarterly financial ratios

Metric	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K	FY1110-K
Gross Margin	54.1%-0.4pp	54.5%+0.3pp	54.2%+1.2pp	53.0%-0.3pp	53.3%-1.5pp	54.8%-0.3pp	55.1%+0.6pp	54.6%-0.1pp	54.7%-0.4pp	55.1%+0.6pp	54.4%+1.3pp	53.1%+0.2pp	53.0%+0.7pp	52.2%-0.3pp	52.5%
Operating Margin	12.2%-1.8pp	14.0%+0.9pp	13.1%-0.2pp	13.3%-0.7pp	14.0%-0.3pp	14.3%-1.0pp	15.3%-0.3pp	15.6%-0.5pp	16.2%+0.6pp	15.6%+2.4pp	13.3%-1.1pp	14.4%-0.2pp	14.6%+0.7pp	13.9%-0.6pp	14.5%
Net Margin	8.8%-1.7pp	10.4%+0.5pp	9.9%-0.4pp	10.3%+0.7pp	9.6%-0.5pp	10.1%-0.8pp	10.9%-8.5pp	19.4%+11.7pp	7.6%-2.4pp	10.1%+1.4pp	8.6%-1.1pp	9.8%-0.4pp	10.2%+0.7pp	9.4%-0.3pp	9.7%
Return on Equity	40.4%-12.7pp	53.1%+4.1pp	49.0%-2.9pp	52.0%+4.5pp	47.5%-5.4pp	52.9%+3.5pp	49.5%-36.7pp	86.2%+42.2pp	44.0%-12.3pp	56.3%+11.1pp	45.2%+8.1pp	37.0%+9.4pp	27.6%+0.1pp	27.6%-3.6pp	31.1%
Return on Assets	7.7%-2.0pp	9.6%+0.6pp	9.0%-0.6pp	9.7%+1.4pp	8.3%+0.6pp	7.7%-1.7pp	9.3%-6.8pp	16.1%+10.0pp	6.1%-2.5pp	8.6%+0.8pp	7.8%-1.4pp	9.2%+0.5pp	8.7%+0.4pp	8.3%-0.6pp	8.8%
Current Ratio	0.850.0x	0.820.0x	0.850.0x	0.800.0x	0.83-0.2x	0.98+0.1x	0.86-0.1x	0.99-0.5x	1.51+0.3x	1.25-0.1x	1.31+0.2x	1.14-0.1x	1.24+0.1x	1.10+0.1x	0.96
Debt-to-Equity	2.070.0x	2.060.0x	2.030.0x	2.08-0.2x	2.25-0.8x	3.00+1.0x	1.970.0x	1.95-1.1x	3.06+0.4x	2.67+0.3x	2.42+1.1x	1.36+0.4x	1.00-0.1x	1.05+0.1x	0.99
Asset Turnover	0.870.0x	0.920.0x	0.910.0x	0.94+0.1x	0.86+0.1x	0.76-0.1x	0.850.0x	0.830.0x	0.80-0.1x	0.85-0.1x	0.910.0x	0.95+0.1x	0.860.0x	0.880.0x	0.91
FCF Margin	8.2%+0.3pp	7.8%-0.8pp	8.7%+2.2pp	6.5%-2.3pp	8.8%-0.3pp	9.1%+1.0pp	8.1%-1.4pp	9.5%-1.6pp	11.1%-1.0pp	12.1%-0.7pp	12.9%+1.4pp	11.5%+1.1pp	10.4%+1.6pp	8.8%+0.4pp	8.4%

Metric	Q2'2610-Q	Q1'2610-Q	Q4'2510-Q	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q
Gross Margin	54.2%-0.4pp	55.2%-0.6pp	53.2%+0.7pp	53.6%-1.9pp	54.7%-1.3pp	55.8%+1.0pp	52.6%-0.4pp	55.4%+0.9pp
Operating Margin	16.6%+8.8pp	16.5%+2.1pp	12.1%+4.0pp	14.9%-1.7pp	7.9%-10.1pp	14.4%-0.5pp	8.1%+2.1pp	16.6%-0.5pp
Net Margin	12.3%+6.8pp	12.0%+1.7pp	8.7%+3.2pp	10.9%-1.7pp	5.6%-8.1pp	10.2%-1.0pp	5.5%+0.8pp	12.6%-0.6pp
Return on Equity	13.5%+6.6pp	10.9%+0.9pp	12.4%+4.0pp	13.4%-1.6pp	6.9%-9.0pp	10.0%-0.8pp	8.4%+1.4pp	15.1%-1.4pp
Return on Assets	2.7%+1.5pp	2.1%+0.3pp	2.4%+0.8pp	2.4%-0.5pp	1.2%-1.9pp	1.8%-0.2pp	1.5%+0.2pp	2.9%-0.2pp
Current Ratio	0.93+0.2x	0.90+0.1x	0.850.0x	0.910.0x	0.78-0.1x	0.830.0x	0.820.0x	0.890.0x
Debt-to-Equity	1.93-0.2x	1.99-0.2x	2.070.0x	2.28+0.3x	2.14+0.3x	2.14+0.2x	2.060.0x	1.98+0.1x
Asset Turnover	0.220.0x	0.180.0x	0.270.0x	0.220.0x	0.220.0x	0.180.0x	0.280.0x	0.230.0x
FCF Margin	6.2%+1.5pp	-2.1%+6.7pp	16.0%+2.3pp	14.5%-1.6pp	4.7%-1.0pp	-8.8%+0.3pp	13.8%+3.6pp	16.1%-3.5pp

Note: The current ratio is below 1.0 (0.85), indicating current liabilities exceed current assets, which may suggest potential short-term liquidity concerns.

Similar Companies

Newest fiscal year on record for each company. The health score is the peer-relative Financial Health Score for that year; a dash means no score is published for it.

Company	Fiscal year	Revenue	Net income	Net margin	Market cap	Health score
PepsiCo, Inc. PEP	FY2025	$93.9B	$8.2B	8.8%	$171.8B	50/100
Monster Beverage Corporation MNST	FY2025	$8.3B	$1.9B	23.0%	$82.6B	82/100
Coca-Cola Company KO	FY2025	$47.9B	$13.1B	27.3%	$370.4B	60/100
Keurig Dr Pepper Inc. KDP	FY2025	$16.6B	$2.1B	12.5%	$41.8B	50/100
Coca-Cola Consolidated, Inc. COKE	FY2025	$7.2B	$570.6M	7.9%	$12.5B	56/100

Where PepsiCo, Inc. Ranks

Frequently Asked Questions

What is PepsiCo, Inc.'s annual revenue?

PepsiCo, Inc. (PEP) reported $93.9B in total revenue for fiscal year 2025. This represents a 2.3% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

How fast is PepsiCo, Inc.'s revenue growing?

PepsiCo, Inc. (PEP) revenue grew by 2.3% year-over-year, from $91.9B to $93.9B in fiscal year 2025.

Is PepsiCo, Inc. profitable?

Yes, PepsiCo, Inc. (PEP) reported a net income of $8.2B in fiscal year 2025, with a net profit margin of 8.8%.

What is PepsiCo, Inc.'s EBITDA?

PepsiCo, Inc. (PEP) had EBITDA of $14.9B in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.

How much debt does PepsiCo, Inc. have?

As of fiscal year 2025, PepsiCo, Inc. (PEP) had $9.2B in cash and equivalents against $42.3B in long-term debt.

What is PepsiCo, Inc.'s gross margin?

PepsiCo, Inc. (PEP) had a gross margin of 54.1% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.

What is PepsiCo, Inc.'s operating margin?

PepsiCo, Inc. (PEP) had an operating margin of 12.2% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.

What is PepsiCo, Inc.'s net profit margin?

PepsiCo, Inc. (PEP) had a net profit margin of 8.8% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

Does PepsiCo, Inc. pay dividends?

Yes, PepsiCo, Inc. (PEP) paid $5.62 per share in dividends during fiscal year 2025.

What is PepsiCo, Inc.'s return on equity (ROE)?

PepsiCo, Inc. (PEP) has a return on equity of 40.4% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

What is PepsiCo, Inc.'s free cash flow?

PepsiCo, Inc. (PEP) generated $7.7B in free cash flow during fiscal year 2025. This represents a 6.7% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.

What is PepsiCo, Inc.'s operating cash flow?

PepsiCo, Inc. (PEP) generated $12.1B in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are PepsiCo, Inc.'s total assets?

PepsiCo, Inc. (PEP) had $107.4B in total assets as of fiscal year 2025, including both current and long-term assets.

What are PepsiCo, Inc.'s capital expenditures?

PepsiCo, Inc. (PEP) invested $4.4B in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.

How much does PepsiCo, Inc. spend on research and development?

PepsiCo, Inc. (PEP) invested $839.0M in research and development during fiscal year 2025.

Does PepsiCo, Inc. buy back shares?

Yes, PepsiCo, Inc. (PEP) spent $1.0B on share buybacks during fiscal year 2025, returning capital to shareholders by reducing shares outstanding.

How many shares does PepsiCo, Inc. have outstanding?

PepsiCo, Inc. (PEP) had 1.37B shares outstanding as of fiscal year 2025.

What is PepsiCo, Inc.'s current ratio?

PepsiCo, Inc. (PEP) had a current ratio of 0.85 as of fiscal year 2025, which is below 1.0, which may suggest potential liquidity concerns.

What is PepsiCo, Inc.'s debt-to-equity ratio?

PepsiCo, Inc. (PEP) had a debt-to-equity ratio of 2.07 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is PepsiCo, Inc.'s return on assets (ROA)?

PepsiCo, Inc. (PEP) had a return on assets of 7.7% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

What is PepsiCo, Inc.'s P/E ratio?

PepsiCo, Inc. (PEP) trades at 16.4x earnings, its market capitalization divided by net income of $10.5B net income, trailing 12 months to June 13, 2026. The market capitalization is $171.8B as of Oct 3, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.

What is PepsiCo, Inc.'s price-to-sales ratio?

PepsiCo, Inc. (PEP) trades at 1.8x sales, its market capitalization divided by revenue of $96.9B revenue, trailing 12 months to June 13, 2026. The market capitalization is $171.8B as of Oct 3, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.

What is PepsiCo, Inc.'s Altman Z-Score?

PepsiCo, Inc. (PEP) has an Altman Z-Score of 3.31, placing it in the Safe Zone (low bankruptcy risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.

What is PepsiCo, Inc.'s Piotroski F-Score?

PepsiCo, Inc. (PEP) has a Piotroski F-Score of 5 out of 9, indicating neutral financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are PepsiCo, Inc.'s earnings high quality?

PepsiCo, Inc. (PEP) has an earnings quality ratio of 1.47x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.

Can PepsiCo, Inc. cover its interest payments?

PepsiCo, Inc. (PEP) has an interest coverage ratio of 10.26x, meaning it can comfortably cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.

How financially healthy is PepsiCo, Inc.?

PepsiCo, Inc. (PEP) scores 50 out of 100 on our Financial Health Score, indicating moderate standing within its operating companies peer group. The score is a 0-100 composite of six dimensions (Profitability, Growth, Leverage, Liquidity, Cash Flow, Returns), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.