PepsiCo (PEP) Financial Statements & Analysis

PepsiCo (PEP) Income Statement

PepsiCo reported revenue of $93.92B in fiscal 2025 (fiscal year ended Dec 31, 2025), up 2.3% from $91.85B a year earlier. Net income was $8.24B, down 14.0% year over year, a net margin of 8.8%. Gross margin was 54.1% and operating margin 14.4%. In the most recent quarter, Q3 fiscal 2026 (ended Sep 5, 2026), revenue was $25.27B, up 5.6% from the same quarter a year earlier.

PepsiCo Income Statement Analysis

Values in billions USD

Income Statement Balance Sheet Cash Flow Ratios

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PepsiCo, Inc. income statement - Annual data in billions USD
Breakdown	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019	FY 2018	FY 2017
Period ending	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020	Dec 2019	Dec 2018	Dec 2017
Revenue & Gross Profit
Revenue	93.93	91.85	91.47	86.39	79.47	70.37	67.16	64.66	63.53
Cost of Revenue	43.07	41.74	41.88	40.58	37.08	31.80	30.13	29.38	28.80
Gross Profit	50.86	50.11	49.59	45.82	42.40	38.58	37.03	35.28	34.73
Operating Expenses
Research & Development	0.00	0.00	0.00	0.77	0.00	0.00	0.00	0.00	0.00
Selling, General & Administrative	37.37	37.19	36.68	34.46	31.24	28.45	26.74	25.17	24.45
Operating Expenses	37.37	37.22	36.68	34.46	31.24	28.50	26.74	25.17	24.45
Operating Income	13.49	12.89	12.91	11.36	11.16	10.08	10.29	10.11	10.28
Other Income/Expense
Interest Income	0.00	0.00	0.00	0.00	0.00	0.00	0.20	0.31	0.24
Interest Expense	1.12	0.92	0.82	0.94	1.86	1.13	0.94	1.22	1.15
Other Income/Expense	-2.13	-0.94	-0.68	0.29	-1.34	-1.01	-0.98	-0.92	-0.67
Income
Income Before Tax	10.24	11.95	11.42	10.71	9.82	9.07	9.31	9.19	9.60
Income Tax Expense	1.95	2.32	2.26	1.73	2.14	1.89	1.96	-3.37	4.69
Net Income	8.24	9.58	9.07	8.91	7.62	7.12	7.31	12.52	4.86
Net Income - Continuous Operations	8.30	9.58	9.16	8.98	7.62	7.12	7.31	12.52	4.86
Net Income - Discontinued Operations	-	-	-	-	-	-	-	-	-
EBITDA	15.54	16.68	15.75	14.92	14.90	13.22	13.09	12.81	13.12
EBIT	11.37	12.87	12.24	11.64	11.86	-	-	-	-
Depreciation & Amortization	4.18	3.82	3.52	3.28	3.22	3.03	2.84	2.40	2.37
Earnings Per Share
Basic EPS	6.00	7.00	7.00	6.00	6.00	5.00	5.00	9.00	3.00
Diluted EPS	6.00	7.00	7.00	6.00	5.00	5.00	5.00	9.00	3.00
Basic Shares Outstanding	1.37	1.37	1.37	1.38	1.38	1.39	1.40	1.42	1.42
Diluted Shares Outstanding	1.37	1.38	1.38	1.39	1.39	1.39	1.41	1.43	1.44

Source: Company financial statements from annual and quarterly filings. Data as of Sep 5, 2026. Data sources and methodology

Frequently Asked Questions About PepsiCo Financial Statements

What was PepsiCo's revenue in fiscal 2025?

PepsiCo reported revenue of $93.92B in fiscal 2025 (fiscal year ended Dec 31, 2025). That was up 2.3% from $91.85B a year earlier.

Is PepsiCo profitable?

Yes. PepsiCo earned net income of $8.24B in fiscal 2025, a net margin of 8.8%. In fiscal 2024 it earned $9.58B.

What is PepsiCo's operating margin?

PepsiCo's operating income was $13.49B on revenue of $93.92B in fiscal 2025, an operating margin of 14.4%, compared with 14.0% a year earlier.

What is net profit margin?

Net profit margin is net income divided by revenue. It shows how much of each dollar of sales a company keeps as profit after all costs, interest and taxes. Full definition