PEPNasdaqBeveragesFiscal year ends December 26
PEPSICO INC
Financials through Q3 FY2026, quarter ended Sep 5, 2026Last filing: 10-Q on Oct 8, 2026
$133.57+2.08 (+1.58%)
Close on Oct 19, 2026
- Market cap
- $182.59B
- P/E (TTM)
- 16.8
- Dividend yield
- 4.21%
Margins
Share of revenue, fiscal years 2011 to 2025
Gross margin
54.1%−0.7 pts over 5 years
Operating margin
12.2%−2.1 pts over 5 years
Net margin
8.8%−1.3 pts over 5 years
Growth rates
Compound annual growth to fiscal 2025
| Per year | 1 year | 3 years | 5 years | 10 years | Five-year pace |
|---|---|---|---|---|---|
| Revenue | +2.3% | +2.8% | +5.9% | +4.1% | |
| Gross profit | +1.5% | +3.5% | +5.7% | +4.0% | |
| Operating income | -10.8% | -0.0% | +2.7% | +3.2% | |
| Net income | -14.0% | -2.6% | +3.0% | +4.2% | |
| EPS, diluted | -13.7% | -2.2% | +3.2% | +5.0% | |
| Free cash flow | +6.7% | +11.0% | +3.8% | -0.5% | |
| Dividend per share | +5.5% | +7.5% | +6.9% | +7.4% |
Returns and balance sheet
10 fiscal years. Hover a measure to see how it is calculated.
| Measure | FY2016 | FY2020 | FY2025 | Trend |
|---|---|---|---|---|
| Return on equity | 54.3% | 50.4% | 42.9% | |
| Return on assets | 8.8% | 8.3% | 8.0% | |
| Current ratio | 1.25 | 0.98 | 0.85 | |
| Debt to equity | 3.29 | 3.28 | 2.41 | |
| Net debt to EBITDA | 2.28× | 2.84× | 2.68× | |
| Interest coverage | 7.3× | 8.9× | 10.3× | |
| Inventory turnover | 10.4× | 8.5× | 7.7× | |
| Capex to revenue | 4.8% | 6.0% | 4.7% | |
| Diluted shares | 1.45B | 1.39B | 1.37B |
Where the cash went
Fiscal 2021 to 2025, five years combined
Pepsico generated $60.46B from operations and spent $63.23B on capital expenditure, dividends and share buybacks. 40% of that went back into the business.
Generated
$60.46B
Used
$63.23B
Capital expenditure$25.08B40%Dividends$33.54B53%Share buybacks$4.61B7%
DuPont analysis
Return on equity split into margin, efficiency and leverage
Net margin8.8%
×Asset turnover0.91×
×Equity multiplier5.38×
=Return on equity, FY202542.9%
| Fiscal year | Net margin | Asset turnover | Equity multiplier | Return on equity |
|---|---|---|---|---|
| FY2025 | 8.8% | 0.91× | 5.38× | 42.9% |
| FY2024 | 10.4% | 0.92× | 5.47× | 52.4% |
| FY2023 | 9.9% | 0.95× | 5.40× | 50.9% |
| FY2022 | 10.3% | 0.94× | 5.56× | 53.7% |
| FY2021 | 9.6% | 0.86× | 6.28× | 51.7% |
| FY2020 | 10.1% | 0.82× | 6.07× | 50.4% |
| FY2019 | 10.9% | 0.86× | 5.33× | 49.9% |
| FY2018 | 19.4% | 0.82× | 6.16× | 97.9% |
| FY2017 | 7.6% | 0.83× | 6.88× | 43.6% |
| FY2016 | 10.1% | 0.88× | 6.14× | 54.3% |
Piotroski F-Score
Nine tests of profitability, balance sheet and efficiency, fiscal 2025 against fiscal 2024
6of 9 tests passed in fiscal 2025. Scores of 7 to 9 are usually read as strong.
- ProfitableNet income above zero$8.24B
- Cash generatingOperating cash flow above zero$12.09B
- Return on assets improvedROA up on the prior year9.5% → 8.3%
- Earnings backed by cashOperating cash flow above net income$12.09B vs $8.24B
- Less leverageLong-term debt to assets fell37.4% → 39.4%
- Better liquidityCurrent ratio rose0.82 → 0.85
- No dilutionShare count did not rise1.38B → 1.37B
- Gross margin improvedGross margin up on the prior year54.55% → 54.15%
- More efficientAsset turnover rose0.91 → 0.94