PepsiCo, Inc.
NASDAQ:PEP · NASDAQ Global Select
-$0.28 today
Vol 17.84M · Avg 7.03M
Income Statement
Follow revenue through to earnings
Review sales, margins, expenses, and profit trends to see what is actually driving reported earnings over time.
Stock Ticker Earnings Waterfall
NASDAQ:PEP · Revenue to Net Income
Key Ratios
Analysis
$95.4B of revenue converted into $8.7B of net income for the selected period. Gross margin is 54.2% and net margin is 9.3%, showing how much revenue survives after costs and taxes. EPS is $6.37, tying the income statement back to per-share earnings.
Income Statement
Annual data · 5 periods
| Metric | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $93.9B +2.3% | $91.9B +0.4% | $91.5B +5.9% | $86.4B +8.7% | $79.5B | $809.6M | $921.6M | $731.2M |
| Cost of Revenue | $43.1B +3.2% | $41.7B -0.3% | $41.9B +3.2% | $40.6B +9.4% | $37.1B | $725.6M | $804.0M | $882.4M |
| Gross Profit | $50.9B +1.5% | $50.1B +1.0% | $49.6B +8.2% | $45.8B +8.1% | $42.4B | $8.9B | $7.6B | $6.2B |
| Gross Margin | 54.1% -0.4pp | 54.6% +0.3pp | 54.2% +1.2pp | 53.0% -0.3pp | 53.3% | 9.8% | 28.9% | 38.3% |
| Research & Development | $0 | $0 | $0 | $0 | $0 | $983.2M | $1.3B | $490.4M |
| Selling, General & Admin | $37.4B +0.5% | $37.2B +1.4% | $36.7B +6.4% | $34.5B +10.3% | $31.2B | $620.6M | $923.0M | -$1.5B |
| Operating Expenses | $37.4B +0.4% | $37.2B -1.0% | $37.6B +9.6% | $34.3B +9.8% | $31.2B | $5.3B | $7.0B | $8.7B |
| Depreciation & Amortization | $4.2B +9.5% | $3.8B +8.4% | $3.5B +7.3% | $3.3B +2.0% | $3.2B | $374.2M | $1.2B | $631.8M |
| EBITDA | $15.5B -6.8% | $16.7B +5.9% | $15.8B +5.6% | $14.9B +0.2% | $14.9B | -$15.2B | $6.8B | $9.3B |
| EBITDA Margin | 16.5% -1.6pp | 18.2% +0.9pp | 17.2% -0.1pp | 17.3% -1.5pp | 18.7% | 5.6% | 46.3% | 42.0% |
| Operating Income | $13.5B +4.7% | $12.9B +7.5% | $12.0B +4.1% | $11.5B +3.1% | $11.2B | $12.3B | $14.0B | -$15.7B |
| Operating Margin | 14.4% +0.3pp | 14.0% +0.9pp | 13.1% -0.2pp | 13.3% -0.7pp | 14.0% | 16.6% | 24.1% | 22.0% |
| Interest Income | $0 | $0 | $0 | $0 | $0 | -$1.5B | -$1.6B | $405.0M |
| Interest Expense | $1.1B +22.0% | $919.0M +12.2% | $819.0M -12.8% | $939.0M -49.6% | $1.9B | $1.1B | $1.0B | $1.2B |
| Other Income / Expenses | -$3.2B -245.1% | -$941.0M -65.4% | -$569.0M +29.5% | -$807.0M +39.8% | -$1.3B | -$1.5B | $1.4B | $1.2B |
| Income Before Tax | $10.2B -14.2% | $11.9B +4.6% | $11.4B +6.7% | $10.7B +9.0% | $9.8B | $3.3B | $4.9B | $3.6B |
| Pre-Tax Margin | 10.9% -2.1pp | 13.0% +0.5pp | 12.5% +0.1pp | 12.4% +0.0pp | 12.4% | 20.8% | 18.7% | 26.2% |
| Income Tax Expense | $1.9B -16.0% | $2.3B +2.6% | $2.3B +31.0% | $1.7B -19.4% | $2.1B | $1.3B | -$1.6B | $745.2M |
| Net Income | $8.2B -14.0% | $9.6B +5.6% | $9.1B +1.8% | $8.9B +17.0% | $7.6B | $4.9B | $4.8B | $4.7B |
| Net Margin | 8.8% -1.7pp | 10.4% +0.5pp | 9.9% -0.4pp | 10.3% +0.7pp | 9.6% | 12.4% | 17.5% | 22.5% |
| EPS (Basic) | $6 -13.6% | $7 +5.9% | $7 +2.0% | $6 +17.2% | $6 | $400.8M | $703.2M | $1.3B |
| EPS (Diluted) | $6 -13.7% | $7 +5.9% | $7 +2.2% | $6 +17.2% | $5 | $766.2M | $609.4M | $452.6M |
| Weighted Avg Shares | $1.4B -0.4% | $1.4B -0.2% | $1.4B -0.3% | $1.4B -0.1% | $1.4B | $757.8M | $925.8M | $1.1B |
| Weighted Avg Shares (Diluted) | $1.4B -0.4% | $1.4B -0.4% | $1.4B -0.3% | $1.4B -0.1% | $1.4B | $1.2B | $924.4M | $678.0M |
Older periods hidden.
Sign in to unlockCompetitors
Peer companies in the same sector
The Coca-Cola Company
NYSE:KO
$340.48B
Philip Morris International Inc.
NYSE:PM
$278.37B
Anheuser-Busch InBev SA/NV
NYSE:BUD
$156.10B
British American Tobacco p.l.c.
NYSE:BTI
$126.67B
Unilever PLC
NYSE:UL
$126.33B
Monster Beverage Corporation
NASDAQ:MNST
$89.50B
Coca-Cola Europacific Partners PLC
NASDAQ:CCEP
$42.99B
Keurig Dr Pepper Inc.
NASDAQ:KDP
$42.03B
Coca-Cola FEMSA, S.A.B. de C.V.
NYSE:KOF
$23.02B
Coca-Cola Consolidated, Inc.
NASDAQ:COKE
$14.22B
SEC Filings
Recent regulatory filings
No filings found.
How much revenue does PEP generate?
PepsiCo, Inc. (PEP) reported $93.92B of revenue in fiscal 2025.
Is PEP profitable?
PepsiCo, Inc. (PEP) reported $8.24B of net income, with a net margin of 8.8%.
Explore More
Continue the stock analysis
Jump to another research area for this company.