PEP Financials PepsiCo

15 years of revenue, profit, cash flow and balance-sheet history through FY2025, from SEC filings — with a computed, factual read of the trend. Updated 28 h ago Overview →

Growth & profitability

Revenue has grown 5.9% per year over the past 5 years.
Net income has grown slower than revenue (3.0% vs 5.9% per year).
Operating margin has contracted, at 12.2% in the latest year.
Free cash flow has grown 3.8% per year over the past 5 years.

Financial health

Total debt ($53.2B) exceeds cash ($9.2B); net debt is $44.1B.
Total debt has grown slower than revenue (2.3% vs 5.9% per year).
Operating income covered interest expense 10× in the latest year, up from 8.9× 5 years ago.
Total debt is 3.6× EBITDA.

Shareholder returns

Dividends have been paid for 15 consecutive years, consuming 92.7% of earnings and 99.6% of free cash flow.
The dividend has grown 6.8% per year over the past 5 years.

Revenue & net income

RevenueNet income

Margins (gross / operating / net)

GrossOperatingNet

Free cash flow (CFO − capex)

Free cash flow

Cash vs total debt

CashTotal debt

Cash flow: operating / investing / financing

OperatingInvestingFinancing

Key annual figures

FY	Revenue	Net income	Gross M	Op M	FCF	Total debt	Cash
2025	$93.9B	$8.2B	54.1%	12.2%	$7.7B	$53.2B	$9.2B
2024	$91.9B	$9.6B	54.6%	14.0%	$7.2B	$48.3B	$8.5B
2023	$91.5B	$9.1B	54.2%	13.1%	$7.9B	$48.0B	$9.7B
2022	$86.4B	$8.9B	53.0%	13.3%	$5.6B	$42.2B	$5.0B
2021	$79.5B	$7.6B	53.3%	14.0%	$7.0B	$44.2B	$5.6B
2020	$70.4B	$7.1B	54.8%	14.3%	$6.4B	$47.5B	$8.2B
2019	$67.2B	$7.3B	55.1%	15.3%	$5.4B	$34.9B	$5.5B
2018	$64.7B	$12.5B	54.6%	15.6%	$6.1B	$36.3B	$8.7B
2017	$63.5B	$4.9B	54.7%	16.2%	$7.1B	$43.3B	$10.6B
2016	$62.8B	$6.3B	55.1%	15.6%	$7.6B	$41.3B	$9.2B
2015	—	$5.5B	—	—	$8.1B	$36.4B	$9.1B
2014	—	$6.5B	—	—	$7.6B	$33.0B	$6.1B
2013	—	$6.7B	—	—	$6.9B	$31.9B	$9.4B
2012	—	$6.2B	—	—	$5.8B	$31.3B	$6.3B
2011	—	$6.4B	—	—	$5.6B	$29.3B	$4.1B

Revenue & net income

RevenueNet income

Margins (gross / operating / net)

GrossOperatingNet

Free cash flow (CFO − capex, quarterly)

Free cash flow

Cash vs total debt

CashTotal debt

Cash flow: operating / investing / financing

OperatingInvestingFinancing

Key quarterly figures

Quarter	Revenue	Net income	Gross M	Op M	FCF	Total debt	Cash
Mar '26	$19.4B	$2.3B	55.2%	16.5%	-$406M	—	$10.5B
Dec '25	$29.3B	$2.5B	53.2%	12.1%	$4.7B	$53.2B	$9.2B
Sep '25	$23.9B	$2.6B	53.6%	14.9%	$3.5B	—	$8.1B
Jun '25	$22.7B	$1.3B	54.7%	7.9%	$1.1B	—	$7.6B
Mar '25	$17.9B	$1.8B	55.8%	14.4%	-$1.6B	—	$8.3B
Dec '24	$27.8B	$1.5B	52.6%	8.1%	$3.8B	$48.3B	$8.5B
Sep '24	$23.3B	$2.9B	55.4%	16.6%	$3.8B	—	$7.3B
Jun '24	$22.5B	$3.1B	55.9%	18.0%	$1.3B	—	$6.4B
Mar '24	$18.3B	$2.0B	54.8%	14.9%	-$1.7B	—	$8.0B
Dec '23	$27.9B	$1.3B	53.0%	6.0%	$2.8B	$48.0B	$9.7B
Sep '23	$23.5B	$3.1B	54.5%	17.1%	$4.6B	—	$10.0B
Jun '23	$22.3B	$2.7B	54.7%	16.4%	$1.5B	—	$6.1B
Mar '23	$17.8B	$1.9B	55.2%	14.7%	-$973M	—	$4.8B
Dec '22	$28.0B	$518M	52.1%	2.9%	$1.9B	$42.2B	$5.0B
Sep '22	$22.0B	$2.7B	53.1%	15.3%	$3.4B	—	$6.4B
Jun '22	$20.2B	$1.4B	53.4%	10.3%	$1.1B	—	$5.4B
Mar '22	$16.2B	$4.3B	54.1%	32.5%	-$696M	—	$6.6B
Dec '21	$25.2B	$1.3B	52.0%	10.1%	$2.6B	$44.2B	$5.6B
Sep '21	$20.2B	$2.2B	53.5%	15.6%	$3.3B	—	$6.5B
Jun '21	$19.2B	$2.4B	53.8%	16.3%	$2.2B	—	$5.4B

Valuation over time

How the market has priced PEP against its own fundamentals since 2023-03 — each month-end's share price set against the most recent annual filing, so the multiple moves as price runs ahead of (or behind) earnings. Split-adjusted.

The price-to-earnings ratio has fallen from 28.0× (Mar '23) to 23.1× (Jun '26).
The price-to-sales ratio has fallen from 2.9× (Mar '23) to 2.0× (Jun '26).
The dividend yield has risen from 2.5% (Mar '23) to 4.0% (Jun '26).

Price / earnings (P/E)

P/E

Price / sales (P/S)

P/S

Dividend yield (%)

Dividend yield %

Frequently asked questions

Is PEP growing its revenue and profit?

Over the past 5 years, PepsiCo's revenue has grown 5.9% per year, and net income grown 3.0% per year. These are computed facts, not advice.

How much debt does PEP have?

As of FY2025, PepsiCo reported $53.2B of total debt against $9.2B of cash; operating income covered interest expense 10×.

What is PEP's profit margin?

In FY2025, gross margin was 54.1%, operating margin 12.2%, and net margin 8.8%.

What is PEP's P/E ratio?

As of Jun '26, PepsiCo traded at a price-to-earnings ratio of about 23.1× (market cap ÷ latest annual net income). The valuation charts above show how its P/E, P/S and dividend yield have moved with the share price. These are computed facts, not advice.

Where does this data come from?

All figures are extracted from the company’s SEC EDGAR/XBRL filings — 10-K annual reports and 10-Q quarterly reports (use the Annual / Quarterly toggle). Quarterly figures are derived from the as-filed statements (year-to-date amounts are differenced into discrete quarters). Growth rates and ratios are computed by tradmap; nothing here is investment advice.

Source: SEC EDGAR / XBRL (10-K + 10-Q filings) · prices EOD (Databento), corporate-action-adjusted · growth rates, valuation multiples & ratios computed by tradmap. Valuation uses each month-end price against the latest annual filing. Informational only — not investment advice.