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$128.34
Market Capi
$175B
Growth-adj P/E (3-yr hist)i
n/a
Growth-adj P/E (3-yr proj)i
1.1x
P/S 26Ei
1.8x
P/S 28Ei
1.7x
EV/EBIT 26Ei
14x
EV/EBIT 28Ei
13x
P/E 26Ei
15x
P/E 28Ei
15x
P/S 26Ei
1.8x
EV/EBIT 26Ei
14x
P/E 26Ei
15x
P/S 28Ei
1.7x
EV/EBIT 28Ei
13x
P/E 28Ei
15x
Revenue
2026E
$99B
Gross Margini
54%
Hist. CAGRi
2.8%
Proj. CAGRi
3.9%
EBIT
2026E
$16B
Op. Margini
16%
Hist. CAGRi
6.9%
Proj. CAGRi
5.0%
Net profit
2026E
$11B
Net Margini
8.8%
Hist. CAGRi
-2.6%
Proj. CAGRi
14%
Business Model
Recent Developments
Average Targeti
$149.36+19%
Consensusi
Hold
24 analysts covering
Net debti
$38B
Div. Yieldi
4.6%
Buyback Yldi
1.5%
Market Capi
$175B
P/E 26Ei
15x
Adj. P/E (fwd.)i
1.1x
Revenue 26E
$99B
Proj. CAGRi
3.9%
Gross Margini
54%
EBIT 26E
$16B
Proj. CAGRi
5.0%
Op. Margini
16%
Net Profit 26E
$11B
Proj. CAGRi
14%
Net Margini
8.8%
Average Targeti
$149.36+19%
Consensusi
Hold
24 analysts covering
Profile
PepsiCo is one of the world's largest food and beverage companies, operating across snacks, carbonated soft drinks, water, sports drinks, and convenient foods. Products are enjoyed over one billion times a day across 200+ countries and territories. Revenue is organized into geographic and category-based segments:
Industry
PepsiCo sells primarily through mass retail, grocery, convenience stores, and foodservice channels — principally to end consumers via retailer intermediaries. The US accounts for over half of revenue, with Mexico, Russia, Canada, China, and the UK as the next largest markets. The global packaged food and beverage industry is mature, large-scale, and defensively positioned — category volumes are relatively stable through economic cycles, though trading-down to private label is a real risk in consumer-pressured environments. Competitive intensity is high, principally from Coca-Cola in beverages and a fragmented challenger landscape in snacks.
Key metrics
Economic moat
PepsiCo's durable competitive advantages rest on three pillars. Brand depth and shelf power — owning 23 brands that each exceed $1 billion in estimated annual retail sales — gives retailers no realistic alternative but to stock PepsiCo products, sustaining pricing leverage. Direct-store-delivery (DSD) distribution in North America is a proprietary logistics network that keeps shelves fresh and displays optimized, a structural advantage smaller competitors cannot replicate at scale. Scale in procurement and manufacturing drives unit cost advantages that protect margins even as input costs fluctuate.
Ramon Laguarta
Laguarta has served as CEO since October 2018 and became Chairman in January 2019, giving him unified control over both strategy and governance. A 25-year PepsiCo veteran, he previously ran the company's Europe Sub-Saharan Africa division and served as President before the top job. His tenure has been defined by accelerating the "Faster, Stronger, Better" transformation agenda — investing in supply chain, digitization, and portfolio reshaping (including the Tropicana divestiture and the poppi acquisition). His long internal tenure gives him deep institutional knowledge but also ties his track record to the company's recent uneven volume performance.
Gregg Roden
Roden has been COO since 1989, making him one of the longest-tenured senior executives in the S&P 500 in a single company. His decades of operational continuity underpin PepsiCo's manufacturing and supply chain reliability, including its proprietary DSD distribution network in North America. The depth of institutional knowledge he brings is a stability asset, though it also reflects a leadership bench that skews toward internal promotion over external disruption.
Stephen Schmitt
Schmitt joined as CFO in November 2025, representing a relatively recent appointment as PepsiCo navigated a complex tariff and inflation environment. His near-term mandate will center on capital allocation discipline — balancing the dividend growth commitment, share repurchases, and M&A integration costs from poppi and other transactions.
Other key figures
Athina Kanioura (Chief Strategy & Transformation Officer and CEO of Latin America Foods) drives digital and AI transformation across the enterprise. Jane Wakely serves as Chief Consumer and Marketing Officer and Chief Growth Officer for International Foods, overseeing the brand and demand-generation agenda globally. Christine Tammara joined as Controller in May 2025, completing a recent CFO-office refresh.
P/S Ratioi
EV/EBITi
P/E Ratioi
Revenue
CAGR (hist. 3-yr)i
0%
CAGR (proj. 3-yr)i
0%
EBIT
CAGR (hist. 3-yr)i
0%
CAGR (proj. 3-yr)i
0%
Net profit
CAGR (hist. 3-yr)i
0%
CAGR (proj. 3-yr)i
0%
Values in billions of USD.
Operating cashflow · Levered Free Cash Flow
Free Cash Flow
CAPEX
Values in billions of USD.
Margins
Rentability
Balance sheet
Values in billions of USD.
Liquidity ratios
Debt-to-Equity-Ratio
Last earnings
PepsiCo's second-quarter 2026 results, reported in July, showed organic revenue growth of 2.4% year over year, with global convenient foods organic volume up 3% and global beverages organic volume up 2%. Core EPS came in at $2.20, essentially flat with prior-year growth of roughly 4% and slightly below the Street's estimate. International markets were the standout, with international organic revenue up 7%, marking the 21st consecutive quarter of at least mid-single-digit international growth. North America was the soft spot: PepsiCo Foods North America organic revenue declined 2% on pricing actions even as it gained volume share, and North America beverage volume fell 4%. Management reaffirmed full-year guidance of 2-4% organic revenue growth and 4-6% core constant-currency EPS growth.
Recent developments
PepsiCo reached a settlement with activist investor Elliott Investment Management, which built a roughly $4 billion stake in the company in September 2025 and pushed for expense discipline, portfolio rationalization, and a review of the company-owned bottling network. Following the settlement, PepsiCo said in December 2025 it would cut prices and discontinue about 20% of its product lines by early 2026 as part of a sharper focus on affordable price tiers in North America, alongside plant and manufacturing-line closures already completed during 2025. The company also launched Good Warrior, a new meat-snacks brand marking its entry into protein-focused snacking. PepsiCo has scheduled its third-quarter 2026 results for October 8, 2026.
Debate & sentiment
Bulls point to PepsiCo's international momentum, the Elliott-driven cost and portfolio discipline, and a dividend that has now increased for 54 consecutive years as reasons the stock is a durable compounder trading at a depressed multiple. Bears focus on the persistent weakness in North America beverages and snacks, where volumes have declined for multiple quarters amid tighter consumer budgets, GLP-1-linked changes in snacking behavior, and continued private-label trade-down. A key swing factor for sentiment is whether the SKU rationalization and pricing resets actually stabilize North America volumes, and whether the Elliott settlement translates into structural changes such as bottling refranchising rather than incremental cost cuts.
Consensusi
Hold
Average targeti
$149.36+19%
Highest targeti
$180.00+43%
Lowest targeti
$124.00-2%
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