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PEPSICO INCPEP

Sector
Consumer
Industry
Beverages
Exchange
Nasdaq

Stock Price $PEP

Latest filings

You are here#6 of 17 in Consumer Staples by market cap

Filing record · 2016–202610-K1110-Q338-K145

PEP filed 11 annual reports (10-K), 33 quarterly reports (10-Q) and 145 current reports (8-K) between 2016 and 2026.

  1. Material agreement8-K · Jun ’16Jun ’16
  2. FY2018 annual report10-K · Feb ’19Feb ’19
  3. Leadership change8-K · Aug ’21Aug ’21
  4. Leadership change8-K · Dec ’25Dec ’25

01—Key figures

Source: 10-KFY2025
Source: 10-KFY2025
Source: 10-KFY2025
Source: 10-KFY2025

Revenue Trend

Year-over-year comparison from 10-K annual reports

  19. $93.92B
YoY changeLargest recent move+12.9%in FY21Latest +2.3%

1 older move runs past ±20% (largest +33.8%); point at, tap or drag across the bars to read one.

Latest bar from 10-KFY2025Click a bar to open its SEC filing

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All PEP Financial Metrics58 metrics

Income Statement15

Balance Sheet25

Cash Flow13

Per Share5

02—Overview

PEPSICO INC Financial Overview 2021–2025

Updated Jul 10, 2026

PepsiCo’s operating profit plunged 11% to $11.5 billiona in FY2025, a surprising contraction for a consumer staple that has reliably passed inflation onto shoppers. However, this optical decline masks underlying resilience, as the drop was heavily skewed by a one-time $1.9 billion impairment charge on its Rockstar and Be & Cheery brands. Beneath these structural write-downs, PepsiCo’s strategic pricing power and portfolio reshaping continue to protect top-line growth and underwrite heavy shareholder returns.

The company has successfully navigated a volatile macroeconomic cycle, with earnings per share expanding from $5.49 in FY2021 to $6.00b in FY2025. Despite persistent volume headwinds and supply chain disruptions, net revenue grew 2% to reach $93.9 billion in FY2025. To reignite organic demand and pivot its portfolio toward healthier options, management aggressively shifted into high-growth categories by deploying $1.2 billion to acquire Siete and $1.95 billion for poppi. Meanwhile, the company continues to reward investors out of its robust cash flow, authorizing a new $10 billion share repurchase program alongside a 4% bump to its annualized dividend.

Despite near-term margin pressures from elevated commodity and operating costs, the market continues to assign a premium to PepsiCo's dependable cash flows. At the close of FY2025, the stock traded at $143.78c, valuing the beverage and snack leader at 24.0x earnings.

Recent Developments (Q4 2025 and Q1 2026)

PepsiCo rebounded in Q1 2026. Net revenue increased 9% year-over-year to $19.44 billiond. Broad-based productivity savings and strategic pricing drove a 24% increase in operating profit to $3.21 billion. Operating margins expanded by 210 basis points to 16.5%. The company also bolstered its balance sheet by issuing €2.482 billion in senior notes and renewing two $5 billion unsecured revolving credit facilities.

Bulls highlight the international momentum, as the EMEA and Latin America Foods segments posted 18% and 16% revenue growth, respectively. Bears caution that the North American beverage segment relies heavily on pricing to drive its 60% operating profit surge, masking ongoing organic volume declines. Trading at $158.38e, the stock commands a premium 26.4x earnings multiple as of Q1 2026.

What to watch: organic volume recovery in North American beverages; pricing resilience amid currency fluctuations.

03—Filings

Recent SEC Filings

  1. 8-KPEPSICO INC 8-K Report, Corporate Update (Oct 16, 2026)PepsiCo, Inc. has announced the successful offering of €1 billion in senior notes, comprising €500 million of 3.750% Senior Notes due 2029 and €500 million of 4.250% Senior Notes due 2035. The company received net proceeds of approximately €994 million, after accounting for underwriting discounts and expenses. These funds are designated for general corporate purposes, including the repayment of commercial paper, indicating a proactive approach to managing its short-term debt obligations. The offering was conducted under PepsiCo's automatic shelf registration statement and was formalized through a Terms Agreement with joint book-running managers Deutsche Bank AG, London Branch and HSBC Bank plc. The Notes are unsecured and rank equally with other senior unsecured indebtedness. This debt issuance provides PepsiCo with additional liquidity and flexibility to support its ongoing operations and strategic initiatives.
  2. 8-KPEPSICO INC 8-K Report, Financial Results (Oct 8, 2026)PepsiCo's third-quarter 2026 results (12 weeks ended September 5, 2026) show top-line momentum with net revenue up 5.6% to $25.3 billion and organic revenue growth accelerating to 3.1% from 2.7% in the year-ago period. Volume growth was positive across both global beverages and convenient foods, and the company credited the International segments for most of the strength, while North America remains the weak spot. Beverages North America grew net revenue 5%, largely from 2025 acquisitions, but convenient foods trends in North America improved only sequentially and remained pressured by lower effective net pricing. Reported profitability is flattered by comparisons and non-operating items. GAAP operating profit rose 19% and EPS rose 17% to $2.23, but this reflects favorable acquisition-related charges and mark-to-market gains, and the prior-year period included Rockstar impairment charges. On a core basis, which is the more relevant measure for underlying performance, core operating profit grew only 3%, core operating margin contracted 35 basis points to 16.9%, and core EPS rose 2% to $2.34 (core constant currency EPS +1.5%). The core figures also benefited from a 4-point tariff refund tailwind, which means underlying cost pressure is somewhat larger than the headline suggests. Management modestly adjusted fiscal 2026 guidance. Organic revenue growth is now expected at about 3% (up from 2%-4%), net revenue at about 6%, and core constant currency EPS growth at 1%-2%, down from the prior low-end of 4%-6%. Core EPS guidance is 2.5%-3.5%, lower than before. Management explicitly flagged additional structural cost reductions to fund growth investments and offset rising input cost inflation, signaling that margin pressure and reinvestment will shape the near-term earnings trajectory.
  3. 8-KPEPSICO INC 8-K Report, Executive Changes (Sep 17, 2026)PepsiCo, Inc. has announced a significant addition to its Board of Directors, with the election of Joaquin Duato, effective December 1, 2026. Mr. Duato brings extensive leadership experience, currently serving as Chairman and CEO of Johnson & Johnson, and previously holding senior executive roles within that organization for over three decades. This appointment is strategically important as Mr. Duato will also join PepsiCo's Audit Committee, bringing his considerable financial and governance expertise to a critical oversight function. Investors should note that Mr. Duato's compensation structure reflects standard practices for new non-employee directors, involving an initial stock award and prorated equity awards, along with an annual cash retainer. The effective date of December 1, 2026, indicates a future integration into the Board's activities.
  4. 8-KPEPSICO INC 8-K Report, Financial Results (Jul 9, 2026)PepsiCo reported second-quarter 2026 results (12 weeks ended June 13, 2026) with net revenue up 6.4% to $24.2 billion, driven by 2.4% organic growth, a 2.2-point foreign exchange tailwind, and a 1.8-point net benefit from acquisitions. Organic volume growth was strong internationally, while North American convenient foods saw lower effective net pricing and declining net revenue. Reported EPS rose 137% to $2.18 and operating profit rose 125%, but this comparison is flattered by the prior-year impairment charges tied to Rockstar and Be & Cheery. The more meaningful measures show core EPS up 4% to $2.20 and core operating profit up 4%, with core operating margin contracting 40 basis points to 16.8%. For the first half, net revenue grew 7.3% and organic revenue grew 2.5%, with core EPS up 6% to $3.81. Management highlighted that global organic volume is growing at the fastest pace since 2022, citing international strength and portfolio evolution toward portion control, functional, and zero-sugar offerings. Management also flagged planned restaging of certain global brands, affordability investments, and productivity efforts to improve operating leverage, which may weigh on near-term margins. PepsiCo affirmed its fiscal 2026 guidance: organic revenue growth of 2% to 4%, core constant currency EPS growth of 4% to 6%, free cash flow conversion of at least 80%, and about $8.9 billion in shareholder returns. Year-to-date operating cash flow improved to $2.4 billion from $1.0 billion, though working capital absorbed cash and short-term debt rose to $10.6 billion. Investors will likely focus on whether North American pricing pressure eases and whether margin pressure from reinvestment is manageable within the reaffirmed targets.
  5. 8-KPEPSICO INC 8-K Report, Corporate Update (May 22, 2026)PepsiCo, Inc. (PEP) disclosed on May 22, 2026 that it terminated its two existing $5.0 billion revolving credit facilities, both dated May 23, 2025 and both led by Citibank, N.A. as administrative agent, and replaced them with two new $5.0 billion unsecured revolving facilities. Neither terminated facility had any outstanding borrowings at termination, so the refinancing is a routine renewal of liquidity backstops rather than a new borrowing event. The filing does not disclose any drawdown, change in leverage, or material new obligation. The new 364-day facility matures May 21, 2027 and can be borrowed in U.S. dollars and/or euros. It can be increased to $5.75 billion with lender consent and allows renewal or conversion of outstanding amounts into a term loan of up to one year. The new five-year facility matures May 22, 2031, includes a $1.2 billion euro-denominated swing line sublimit, and permits up to two one-year extensions at the company's request. It also can be upsized to $5.75 billion. Both agreements are for general corporate purposes, including working capital, capital investments and acquisitions. For investors, the key takeaway is that PepsiCo maintains committed, flexible liquidity of up to $10 billion across the two facilities, with the five-year tranche extending the maturity profile to 2031. Pricing terms disclosed in the exhibits include a 0.025% commitment fee on the 364-day facility and a 0.045% fee on the five-year facility, with drawn spreads of 0.625% over Term SOFR or EURIBO. These are modest costs, consistent with an investment-grade issuer maintaining standby capacity.
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04—See also

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