← Fundamentals
Fundamentals · EDGAR XBRL · Consumer Staples

PEP

Latest: Q3 FY26 · Thesis page →
Revenue$25.3B+5.6% YoY
Net income$3.0B+17.1% YoY
Free cash flow—YoY n/a
Gross margin54.4%+0.8 pts vs a year ago

Revenue vs Net income

Reported dollars from 10-Q / 10-K filings. Q4 bars are derived (annual less nine months) where the 10-K does not tag Q4 separately.

■ Revenue   ■ Net income
$0$9.1B$18.2B$27.3BQ2 '24Q3 '24Q1 '25Q2 '25Q3 '25Q1 '26Q2 '26Q3 '26

Margin trend

Gross, operating and net margin. Margins are derived from reported dollars.

● Gross margin   ● Operating margin   ● Net margin
-2%20%42%63%Q2 '24Q3 '24Q1 '25Q2 '25Q3 '25Q1 '26Q2 '26Q3 '26

Revenue YoY growth

Year-over-year change vs the same quarter (or fiscal year) a year earlier. Shown where the prior-year period is in the 8-quarter snapshot (latest four quarters).

+1%+3%+9%+6%+6%Q2 '24Q3 '24Q1 '25Q2 '25Q3 '25Q1 '26Q2 '26Q3 '26

Income statement

From 10-Q / 10-K XBRL. Values in reported dollars; EPS in $/share; share counts in shares.

Q2 '24Q3 '24Q1 '25Q2 '25Q3 '25Q1 '26Q2 '26Q3 '26
Revenue$22.5B$23.3B$17.9B$22.7B$23.9B$19.4B$24.2B$25.3B
YoY———+1.0%+2.7%+8.5%+6.4%+5.6%
Cost of goods sold$9.9B$10.4B$7.9B$10.3B$11.1B$8.7B$11.1B$11.5B
YoY———+3.9%+6.9%+9.9%+7.4%+3.7%
Gross profit$12.6B$12.9B$10.0B$12.4B$12.8B$10.7B$13.1B$13.8B
YoY———-1.3%-0.8%+7.4%+5.5%+7.3%
Research & development————————
YoY————————
Selling, general & administrative$8.5B$9.0B$7.4B$8.8B$9.1B$7.5B$9.1B$9.5B
YoY———+2.8%+1.1%+1.5%+3.6%+4.1%
Operating income$4.0B$3.9B$2.6B$1.8B$3.6B$3.2B$4.0B$4.3B
YoY———-55.8%-7.8%+24.4%+124.9%+19.4%
Pretax income$3.9B$3.7B$2.3B$1.6B$3.3B$3.0B$3.9B$3.9B
YoY———-59.4%-9.8%+26.8%+145.2%+17.2%
Income tax$776.0M$749.0M$499.0M$292.0M$713.0M$632.0M$848.0M$834.0M
YoY———-62.4%-4.8%+26.7%+190.4%+17.0%
Net income$3.1B$2.9B$1.8B$1.3B$2.6B$2.3B$3.0B$3.0B
YoY———-59.0%-11.2%+26.9%+136.0%+17.1%
EPS — basic$2.24$2.13$1.34$0.92$1.90$1.70$2.18$2.23
YoY———-58.9%-10.8%+26.9%+137.0%+17.4%
EPS — diluted$2.23$2.13$1.33$0.92$1.90$1.70$2.18$2.23
YoY———-58.7%-10.8%+27.8%+137.0%+17.4%
Weighted shares — basic1.38B1.37B1.37B1.37B1.37B1.37B1.37B1.36B
Weighted shares — diluted1.38B1.38B1.38B1.37B1.37B1.37B1.37B1.37B

Balance sheet

Point-in-time values at each quarter (or fiscal year) end.

Q2 '24Q3 '24Q1 '25Q2 '25Q3 '25Q1 '26Q2 '26Q3 '26
Cash & equivalents$6.4B$7.3B$8.3B$7.6B$8.1B$10.5B$10.3B$10.7B
YoY———+20.1%+11.2%+26.7%+34.3%+31.4%
Marketable securities (current)————————
YoY————————
Accounts receivable————————
YoY————————
Inventory$5.9B$5.6B$5.7B$6.5B$6.1B$6.2B$6.7B$6.4B
YoY———+10.2%+8.0%+9.7%+3.8%+5.6%
Total current assets$25.7B$26.9B$26.3B$28.2B$28.7B$30.9B$32.8B$32.6B
YoY———+9.8%+7.0%+17.6%+16.2%+13.4%
Total assets$99.5B$100.5B$101.7B$105.3B$106.6B$110.6B$112.2B$112.0B
YoY———+5.8%+6.0%+8.8%+6.5%+5.1%
Total current liabilities$31.1B$30.3B$31.5B$36.4B$31.5B$34.5B$35.1B$34.5B
YoY———+16.8%+3.9%+9.4%-3.5%+9.6%
Total liabilities$80.0B$80.9B$83.2B$86.8B$87.0B$89.1B$89.9B$89.5B
YoY———+8.5%+7.5%+7.1%+3.6%+2.8%
Total equity$19.4B$19.5B$18.4B$18.4B$19.4B$21.4B$22.1B$22.3B
YoY———-5.3%-0.3%+16.3%+20.0%+15.0%
Shares outstanding————————
YoY————————

Cash flow

Quarterly values derived from year-to-date filings (Q4 from the 10-K). Free cash flow = operating cash flow − capital expenditures.

Q2 '24Q3 '24Q1 '25Q2 '25Q3 '25Q1 '26Q2 '26Q3 '26
Operating cash flow$2.4B$4.9B$-973.0M$2.0B$4.5B$41.0M$2.3B$5.6B
YoY———-16.4%-8.8%+104.2%+18.0%+24.9%
Capital expenditures————————
YoY————————
Free cash flow————————
YoY————————
Dividends paid$1.7B$1.9B$1.9B$1.9B$1.9B$2.0B$1.9B$2.0B
YoY———+7.0%+4.6%+4.5%+4.7%+3.7%
Share repurchases$315.0M$299.0M$183.0M$311.0M$258.0M$182.0M$297.0M$260.0M
YoY———-1.3%-13.7%-0.5%-4.5%+0.8%

Margins & ratios

Derived from the reported dollars above — no separate source.

Q2 '24Q3 '24Q1 '25Q2 '25Q3 '25Q1 '26Q2 '26Q3 '26
Gross margin55.9%55.4%55.8%54.7%53.6%55.2%54.2%54.4%
Operating margin18.0%16.6%14.4%7.9%14.9%16.5%16.6%16.9%
Net margin13.7%12.6%10.2%5.6%10.9%12.0%12.3%12.1%
Free cash flow margin————————
Effective tax rate20.1%20.3%21.3%18.6%21.4%21.3%22.0%21.4%
Current ratio0.83x0.89x0.83x0.78x0.91x0.90x0.93x0.94x
Total liabilities / equity4.11x4.16x4.52x4.71x4.49x4.17x4.07x4.01x

Peer comparison — latest full year

Same sector (Consumer Staples), sorted by revenue. All figures from the same EDGAR XBRL snapshot.

TickerRevenueRevenue YoYGross marginOperating marginNet marginFCF margin
PEP FY25 · this stock$93.9B+2.3%54.1%12.2%8.8%—
WMT FY26$713.2B+4.7%—4.2%3.1%2.1%
COST FY26$303.2B+10.1%—3.9%3.0%3.1%
KR FY26$147.6B+0.4%—1.3%0.7%—
PG FY26$87.0B+3.3%—22.7%18.4%17.4%
SYY FY26$84.6B+3.9%18.5%3.7%2.1%—
ADM FY25$80.3B-6.2%6.3%—1.3%5.2%
TSN FY25$54.4B+2.1%6.5%2.0%0.9%2.2%
KO FY25$47.9B+1.9%61.6%28.7%27.3%11.0%
PM FY25$40.6B+7.3%67.1%36.6%27.9%26.2%
MDLZ FY25$38.5B+5.8%28.4%9.2%6.4%8.4%

Source: SEC EDGAR XBRL company facts (10-Q / 10-K), snapshot generated 2026-11-03 for 218 tickers. Q4 values are derived as the 10-K annual less the first nine months, since Q4 is not separately tagged in company facts; cash-flow quarterly values are derived from year-to-date filings the same way. Free cash flow = operating cash flow − capital expenditures. Blank cells mean the filing does not report that line item under a standard US-GAAP tag — nothing is estimated or filled in. Descriptive research, not investment advice. How EarnIQ builds fundamentals.