PepsiCo
Pairs Lay’s and Doritos snacks with Pepsi-Cola, Gatorade and other global beverages.
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Profile
Sells branded convenient foods and beverages, pairing Lay’s, Doritos, Cheetos and Quaker with Pepsi-Cola, Mountain Dew and Gatorade. Revenue comes from owned food and bottling operations, beverage concentrate sales to franchise bottlers, and a distribution network spanning direct-store delivery, warehouses and distributors.
Makes, markets, distributes and sells convenient foods and beverages under Lay’s, Doritos, Cheetos, Quaker, Pepsi-Cola, Mountain Dew, Gatorade and SodaStream. PepsiCo Foods North America and PepsiCo Beverages North America cover the United States and Canada; International Beverages Franchise, Europe, Middle East and Africa, Latin America Foods and Asia Pacific Foods extend the portfolio worldwide.
Combines brand ownership with manufacturing, bottling, merchandising and frequent direct-store delivery. Performance depends on product innovation and reformulation, packaging and pricing, reliable access to agricultural commodities, sweeteners, water and packaging materials, and compliance with food safety, labeling, marketing, recycling and ingredient rules. Products reach stores through company operations, authorized bottlers, contract manufacturers, customer warehouses, distributors and retailers.
Company facts
Key statistics
Year to date −0.8% · Average volume (30d) 7.0M
Analysts
Ratings
Target range
Latest analyst notes
| Date | Firm | Action | Prior rating | Rating | Prior target | Target |
|---|---|---|---|---|---|---|
| Aug 7, 2026 | Raymond James | Downgrade | Sell | |||
| Aug 7, 2026 | Citigroup | Upgrade | Neutral | Overweight | ||
| Jul 21, 2026 | Barclays | Reiterate | Equal Weight | $138 | $142 | |
| Jul 10, 2026 | Deutsche Bank | Target | $168 | $155 | ||
| Jul 10, 2026 | Jefferies | Reiterate | Hold | $162 | $152 |
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Jul 9, 2026Q2 FY26 | $2.19 | $2.20 | +0.5% | $23.95B | $24.18B | +1.0% | −0.35% |
| Apr 16, 2026Q1 FY26 | $1.54 | $1.61 | +4.5% | $18.95B | $19.44B | +2.6% | −0.45% |
| Feb 3, 2026Q4 FY25 | $2.24 | $2.26 | +0.9% | $28.98B | $29.34B | +1.3% | +2.04% |
| Oct 9, 2025Q3 FY25 | $2.26 | $2.29 | +1.3% | $23.84B | $23.94B | +0.4% | +3.71% |
Financial highlights
| 12 quarters | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $17.92B | $22.73B | $23.94B | $29.34B | $19.44B | $24.18B | |
| Gross profit | $9.99B | $12.42B | $12.82B | $15.62B | $10.73B | $13.11B | |
| Operating income | $2.58B | $3.65B | $3.70B | $3.56B | $3.21B | $4.02B | |
| Net income | $1.83B | $1.26B | $2.60B | $2.54B | $2.34B | $3.00B | |
| Diluted EPS | $1.33 | $0.92 | $1.90 | $1.85 | $1.70 | $2.18 | |
| Gross margin | 55.8% | 54.7% | 53.6% | 53.2% | 55.2% | 54.2% | |
| Operating margin | 14.4% | 16.1% | 15.5% | 12.1% | 16.5% | 16.6% |
Fiscal years (4-quarter sums)FY21 $79.47B · FY22 $86.39B · FY23 $91.47B · FY24 $91.85B · FY25 $93.93B
Revenue by product · Q2 FY26
Revenue by geography · Q2 FY26
Balance sheet, Jun 13, 2026Cash & short-term investments $10.72B · Total debt $53.21B · Total assets $112.19B · Shareholders' equity $22.10B
Dividends
Raised for 52 straight years — most recently to $1.48 from $1.4225 in Jun 2026. To collect a payout, hold shares through the close before the ex-date.
History
| Ex-date | Record | Paid | Amount | Note |
|---|---|---|---|---|
| Jun 5, 2026 | Jun 5 | Jun 30 | $1.48 | raised from $1.4225 |
| Mar 6, 2026 | Mar 6 | Mar 31 | $1.4225 | |
| Dec 5, 2025 | Dec 5 | Jan 6 | $1.4225 | |
| Sep 5, 2025 | Sep 5 | Sep 30 | $1.4225 | |
| Jun 6, 2025 | Jun 6 | Jun 30 | $1.4225 | raised from $1.355 |
| Mar 7, 2025 | Mar 7 | Mar 31 | $1.355 | |
| Dec 6, 2024 | Dec 6 | Jan 6 | $1.355 | |
| Sep 6, 2024 | Sep 6 | Sep 30 | $1.355 |
Ownership
A 13F quarter can total more than the shares outstanding — sub-advisers file the same block twice, and a filer's own share count can be a quarter stale. No split is drawn from it.
Shares outstanding 1.37B · Float 1.36B · 99.5% free float
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| BlackRock, Inc. | 118.28M | 8.66% | 13F | Aug 7, 2026 |
| Vanguard Capital Management LLC | 89.26M | 6.53% | 13F | Aug 13, 2026 |
| State Street Corp | 60.41M | 4.42% | 13F | Aug 7, 2026 |
| Invesco Ltd. | 43.11M | 3.16% | 13F | Aug 14, 2026 |
| Vanguard Portfolio Management LLC | 37.16M | 2.72% | 13F | Aug 13, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Jul 27, 2026 | David Flavell | officer: EVP, Gen Counsel & Corp Sec | −2,900 | $139.54 |
| Mar 4, 2026 | Eugene Willemsen | officer: CEO, International Beverages | −6,500 | $164.45 |
| Mar 2, 2026 | Ramon Laguarta | director, officer: Chairman and CEO | −27,945 | $167.39 |
Peers
- Coca-Cola
The defining global beverage rival, head-to-head across every drink category.
- Mondelez International
Global snack giant — biscuits and crackers contesting the Frito-Lay aisle.
- Keurig Dr Pepper
North America's #3 beverage company — CSDs, coffee systems, and flavored drinks.
- Monster Beverage
#2 global energy drink brand, distributed by Coca-Cola vs Rockstar and Celsius.
- Kraft Heinz
Packaged food rival — condiments and pantry staples vs Quaker and Frito-Lay.
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| PepsiCo | $141.75 | +0.48% | $192.70B | 18.5 | 16.2 | 2.0 | +6.4% |
| Coca-Cola | $89.75 | +0.11% | $385.77B | 26.9 | 26.5 | 7.7 | +6.7% |
| Mondelez International | $62.76 | +0.66% | $79.59B | 23.0 | 19.3 | 2.0 | +4.1% |
| Keurig Dr Pepper | $32.50 | +1.03% | $43.78B | 32.4 | 13.1 | 2.2 | +75.6% |
| Monster Beverage | $46.92 | +0.13% | $91.66B | 43.2 | 38.3 | 9.9 | +20.2% |
| Kraft Heinz | $25.72 | +0.13% | $30.47B | — | 12.9 | 1.2 | −1.4% |
| Median | 29.6 | 19.3 | 2.2 | +6.7% |