Latest revenue
$19.44B
as of 2026-03-21
Latest net income
$2.33B
as of 2026-03-21
Net margin
12.0%
as of 2026-03-21
Price · 5Y
Live market
delayed ≤15 min- Market cap
- $205.79B
- Enterprise value
- $248.05B
- P/E (trailing)
- 25.0×
- Forward P/E
- —
- P/B
- 9.62×
- Dividend yield
- 3.8%
- 52-wk high
- $171.48
- 52-wk low
- $127.60
- Beta
- —
- Shares out
- 1.37B
5-year trend
What this company does
PepsiCo makes and sells snacks and beverages, including Pepsi sodas, Gatorade, Mountain Dew, Lay's, Doritos, Cheetos, and Quaker foods, across roughly 200 countries. Revenue comes from selling these branded products through retailers, restaurants, and direct-store delivery, with Frito-Lay snacks and global beverage concentrate sales driving the bulk of profits. First-quarter results show 8.5% revenue growth to $19.4 billion and a 24% jump in operating profit, signaling a recovery after restructuring charges and weaker prior-year volumes.
Key risks
- Leverage: $42.6B long-term plus $10.2B short-term debt against just $21.5B equity; net interest expense rose 14% to $301M.
- Hyperinflationary exposure in Argentina, Egypt and Turkey; FX translation drove $719M comprehensive income swing this quarter.
- Tariff and geopolitical pressure flagged by management as complicating estimates; cost of sales up 9.9% YoY outpacing some revenue lines.
Profitability
Gross margin
54.1%
0.7%Operating margin
12.2%
12.7%Net margin
8.8%
15.9%Return on equity
40.4%
23.9%Return on assets
7.7%
20.3%Leverage
Debt / equity
4.26×
5.5%Long-term debt / equity
2.07×
0.5%Debt / assets
81.0%
1.1%Earnings tracker
| Quarter | Revenue | YoY | Net income | YoY | Net margin |
|---|---|---|---|---|---|
Q1 2026 2026-03-21 | $19.44B | +8.5% | $2.33B | +26.9% | 12.0% |
Q4 2025 2025-12-27 | $29.34B | +5.6% | $2.54B | +66.8% | 8.7% |
Q3 2025 2025-09-06 | $23.94B | +2.7% | $2.60B | -11.2% | 10.9% |
Q2 2025 2025-06-14 | $22.73B | +1.0% | $1.26B | -59.0% | 5.6% |
Q1 2025 2025-03-22 | $17.92B | -1.8% | $1.83B | -10.2% | 10.2% |
Q4 2024 2024-12-28 | $27.78B | — | $1.52B | — | 5.5% |
Q3 2024 2024-09-07 | $23.32B | -0.6% | $2.93B | -5.2% | 12.6% |
Q2 2024 2024-06-15 | $22.50B | +0.8% | $3.08B | +12.2% | 13.7% |
Year-over-year change vs the same fiscal quarter one year prior. Revenue + net income sourced from SEC 10-Q / 10-K filings — no analyst-consensus dependency.
Industry trend
Beverages · SIC 2080
Your notes
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Insider activity
Insider buying
$0
Insider selling
$5.7M
Net activity
−$5.7M
Distinct insiders
2
Open-market trades over the last 365 days.
Recent transactions
Source: SEC Form 4 filings. Officers, directors, and 10%+ owners must disclose share transactions within two business days. RSU grants and tax-withholding rows are excluded by default — compensation activity is not a trading signal.
Who owns PEP
Institutional value
$43.45B
Total shares held
286.0M
Distinct holders
743
As of
2026-03-31
Filers with $100M+ AUM disclose holdings 45 days after quarter end.
Top institutional holders
| # | Manager | Shares | Value | QoQ change | Action |
|---|---|---|---|---|---|
| 1 | VANGUARD CAPITAL MANAGEMENT LLC | 88.8M | $13.79B | — | New |
| 2 | VANGUARD PORTFOLIO MANAGEMENT LLC | 36.5M | $5.66B | — | New |
| 3 | Invesco Ltd. | 12.1M | $1.87B | — | New |
| 4 | WELLS FARGO & COMPANY/MN | 11.4M | $1.78B | — | New |
| 5 | DEUTSCHE BANK AG\ | 9.0M | $1.40B | — | New |
| 6 | Legal & General Group Plc | 8.9M | $1.38B | — | New |
| 7 | DIMENSIONAL FUND ADVISORS LP | 8.0M | $1.25B | — | New |
| 8 | VANGUARD FIDUCIARY TRUST CO | 7.7M | $1.20B | — | New |
| 9 | STIFEL FINANCIAL CORP | 6.3M | $984.8M | — | New |
| 10 | Swiss National Bank | 4.0M | $623.1M | — | New |
| 11 | Mitsubishi UFJ Asset Management Co., Ltd. | 3.3M | $504.9M | — | New |
| 12 | California Public Employees Retirement System | 3.2M | $503.3M | — | New |
| 13 | National Pension Service | 3.2M | $501.7M | — | New |
| 14 | PNC Financial Services Group, Inc. | 3.2M | $500.1M | — | New |
| 15 | Vanguard Global Advisers, LLC | 3.0M | $472.2M | — | New |
| 16 | FEDERATED HERMES, INC. | 2.9M | $454.5M | — | New |
| 17 | VANGUARD ASSET MANAGEMENT, Ltd | 2.8M | $428.1M | — | New |
| 18 | Fiera Capital Corp | 2.7M | $421.7M | — | New |
| 19 | LPL Financial LLC | 2.5M | $387.9M | — | New |
| 20 | RHUMBLINE ADVISERS | 2.5M | $383.8M | — | New |
Source: SEC Form 13F-HR. Positions aggregated across sub-managers within each firm. Options (puts/calls) excluded — common stock only.
Top questions investors are asking
- 1
Operating cash flow was just $41M versus a $973M outflow last year—what's driving the persistent Q1 working capital drag, particularly the $1.85B AP decline?
- 2
Short-term debt jumped from $6.9B to $10.2B in 12 weeks while you issued $3B long-term debt—is leverage funding dividends given $1.97B paid?
- 3
Operating profit grew 24% on only 8.5% revenue growth—how much came from pricing versus volume, and is this margin expansion sustainable?