PepsiCo, Inc. (PEP) quarterly income statement — complete revenue, gross profit & net income history
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 | Q2'23 | Q1'23 | Q4'22 | Q3'22 | Q2'22 | Q1'22 | Q4'21 | Q3'21 | Q2'21 |
|---|
| Sales/Revenue | 19.44B | 29.34B | 23.94B | 22.73B | 17.92B | 27.78B | 23.32B | 22.5B | 18.25B | 27.85B | 23.45B | 22.32B | 17.85B | 28B | 21.97B | 20.23B | 16.2B | 25.25B | 20.19B | 19.22B |
| Revenue Growth % | 8.5% | 5.61% | 2.65% | 1% | -1.81% | -0.24% | -0.57% | 0.8% | 2.26% | -0.52% | 6.75% | 10.37% | 10.16% | 10.88% | 8.83% | 5.25% | 9.31% | 12.44% | 11.6% | 20.52% |
| Cost of Goods Sold | 8.71B | 13.72B | 11.11B | 10.3B | 7.93B | 13.18B | 10.4B | 9.92B | 8.25B | 13.1B | 10.68B | 10.12B | 7.99B | 13.42B | 10.31B | 9.41B | 7.43B | 12.13B | 9.39B | 8.88B |
| COGS % of Revenue | 44.81% | 46.77% | 46.43% | 45.34% | 44.23% | 47.44% | 44.58% | 44.08% | 45.19% | 47.03% | 45.52% | 45.34% | 44.76% | 47.94% | 46.92% | 46.55% | 45.88% | 48.04% | 46.53% | 46.21% |
| Gross Profit | 10.73B | 15.62B | 12.82B | 12.42B | 9.99B | 14.6B | 12.92B | 12.58B | 10B | 14.75B | 12.78B | 12.2B | 9.86B | 14.58B | 11.66B | 10.81B | 8.77B | 13.12B | 10.79B | 10.34B |
| Gross Margin % | 55.19% | 53.23% | 53.57% | 54.66% | 55.77% | 52.56% | 55.42% | 55.92% | 54.81% | 52.97% | 54.48% | 54.66% | 55.24% | 52.06% | 53.08% | 53.45% | 54.12% | 51.96% | 53.47% | 53.79% |
| Gross Profit Growth % | 7.39% | 6.96% | -0.77% | -1.27% | -0.09% | -1.02% | 1.13% | 3.12% | 1.46% | 1.21% | 9.56% | 12.87% | 12.44% | 11.11% | 8.04% | 4.58% | 7.58% | 9.05% | 8.66% | 16.71% |
| Operating Expenses | 7.52B | 12.06B | 9.12B | 8.77B | 7.41B | 12.35B | 9.05B | 8.53B | 7.29B | 13.07B | 8.76B | 8.54B | 7.23B | 13.76B | 8.31B | 8.73B | 3.5B | 10.56B | 7.64B | 7.21B |
| OpEx % of Revenue | 38.67% | 41.11% | 38.11% | 38.6% | 41.35% | 44.46% | 38.81% | 37.93% | 39.92% | 46.93% | 37.36% | 38.27% | 40.51% | 49.15% | 37.82% | 43.18% | 21.6% | 41.81% | 37.82% | 37.51% |
| Selling, General & Admin | 7.52B | 12.06B | 9.12B | 8.77B | 7.41B | 12.32B | 9.03B | 8.53B | 7.29B | 12.15B | 8.76B | 8.54B | 7.23B | 12.2B | 8.29B | 7.39B | 6.58B | 10.56B | 7.64B | 7.21B |
| SG&A % of Revenue | 38.67% | 41.11% | 38.11% | 38.6% | 41.35% | 44.34% | 38.71% | 37.93% | 39.92% | 43.62% | 37.36% | 38.27% | 40.51% | 43.57% | 37.75% | 36.52% | 40.62% | 41.81% | 37.82% | 37.51% |
| Research & Development | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| R&D % of Revenue | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Other Operating Expenses | 0 | 0 | 0 | 0 | 0 | 1000K | 1000K | 0 | 0 | 1000K | 0 | 0 | 0 | 1000K | 1000K | 1000K | -1000K | 0 | 0 | 0 |
| Operating Income | 3.21B | 3.56B | 3.7B | 3.65B | 2.58B | 2.25B | 3.87B | 4.05B | 2.72B | 1.68B | 4.01B | 3.66B | 2.63B | 815M | 3.35B | 2.08B | 5.27B | 2.56B | 3.16B | 3.13B |
| Operating Margin % | 16.53% | 12.12% | 15.47% | 16.06% | 14.41% | 8.1% | 16.6% | 17.99% | 14.89% | 6.04% | 17.12% | 16.39% | 14.73% | 2.91% | 15.26% | 10.27% | 32.51% | 10.15% | 15.65% | 16.28% |
| Operating Income Growth % | 24.39% | 58.09% | -4.39% | -9.86% | -4.93% | 33.69% | -3.56% | 10.63% | 3.35% | 106.5% | 19.74% | 76.17% | -50.09% | -68.19% | 6.14% | -33.62% | 127.81% | -9.34% | 4.92% | 34.93% |
| EBITDA | 4.12B | 4.93B | 4.7B | 4.63B | 3.41B | 3.51B | 4.77B | 4.94B | 3.48B | 2.84B | 4.86B | 4.47B | 3.33B | 1.9B | 4.13B | 2.84B | 5.92B | 3.91B | 3.93B | 3.9B |
| EBITDA Margin % | 21.17% | 16.8% | 19.63% | 20.36% | 19.04% | 12.63% | 20.46% | 21.94% | 19.1% | 10.21% | 20.71% | 20.02% | 18.69% | 6.77% | 18.82% | 14.03% | 36.57% | 15.5% | 19.46% | 20.31% |
| EBITDA Growth % | 20.66% | 40.52% | -1.49% | -6.3% | -2.09% | 23.38% | -1.75% | 10.47% | 4.5% | 50.08% | 17.44% | 57.53% | -43.71% | -51.58% | 5.24% | -27.31% | 99.43% | 7.44% | 8.54% | 34.22% |
| D&A (Non-Cash Add-back) | 904M | 1.37B | 998M | 977M | 829M | 1.26B | 899M | 889M | 768M | 1.16B | 841M | 810M | 706M | 1.08B | 782M | 760M | 658M | 1.35B | 770M | 774M |
| EBIT | 3.27B | 3.33B | 3.6B | 1.83B | 2.61B | 2.07B | 3.91B | 4.1B | 2.77B | 1.75B | 4.08B | 3.72B | 2.69B | 779M | 3.39B | 2.08B | 5.4B | 2.72B | 3.28B | 3.25B |
| Net Interest Income | -301M | -333M | -264M | -260M | -264M | -264M | -219M | -234M | -202M | -217M | -201M | -201M | -200M | -273M | -190M | -236M | -240M | -1.13B | -232M | -241M |
| Interest Income | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest Expense | 301M | 333M | 264M | 260M | 264M | 264M | 219M | 234M | 202M | 217M | 201M | 201M | 200M | 273M | 190M | 236M | 240M | 1.13B | 232M | 241M |
| Other Income/Expense | -243M | -557M | -371M | -2.08B | -241M | -441M | -178M | -178M | -144M | -150M | -139M | -141M | -139M | -309M | -154M | -238M | -106M | -974M | -114M | -115M |
| Pretax Income | 2.97B | 3B | 3.33B | 1.57B | 2.34B | 1.81B | 3.69B | 3.87B | 2.57B | 1.53B | 3.88B | 3.52B | 2.49B | 506M | 3.2B | 1.84B | 5.16B | 1.59B | 3.04B | 3.01B |
| Pretax Margin % | 15.28% | 10.22% | 13.92% | 6.91% | 13.07% | 6.51% | 15.84% | 17.2% | 14.1% | 5.5% | 16.53% | 15.76% | 13.95% | 1.81% | 14.56% | 9.09% | 31.86% | 6.29% | 15.08% | 15.68% |
| Income Tax | 632M | 445M | 713M | 292M | 499M | 275M | 749M | 776M | 520M | 209M | 760M | 747M | 546M | -29M | 475M | 393M | 888M | 247M | 802M | 642M |
| Effective Tax Rate % | 21.28% | 14.83% | 21.4% | 18.59% | 21.31% | 15.2% | 20.28% | 20.05% | 20.21% | 13.63% | 19.61% | 21.23% | 21.93% | -5.73% | 14.85% | 21.37% | 17.21% | 15.55% | 26.34% | 21.3% |
| Net Income | 2.34B | 2.54B | 2.6B | 1.26B | 1.83B | 1.52B | 2.93B | 3.08B | 2.04B | 1.3B | 3.09B | 2.75B | 1.93B | 518M | 2.7B | 1.43B | 4.26B | 1.32B | 2.22B | 2.36B |
| Net Margin % | 12.02% | 8.66% | 10.87% | 5.56% | 10.23% | 5.48% | 12.56% | 13.7% | 11.19% | 4.67% | 13.18% | 12.31% | 10.83% | 1.85% | 12.3% | 7.07% | 26.3% | 5.24% | 11.02% | 12.27% |
| Net Income Growth % | 27.48% | 66.78% | -11.16% | -59.03% | -10.19% | 16.97% | -5.24% | 12.19% | 5.69% | 151.35% | 14.43% | 92.3% | -54.66% | -60.82% | 21.49% | -39.4% | 148.6% | -28.35% | -2.92% | 43.26% |
| Net Income (Continuing) | 2.34B | 2.56B | 2.62B | 1.28B | 1.84B | 1.53B | 2.94B | 3.09B | 2.05B | 1.32B | 3.12B | 2.77B | 1.94B | 535M | 2.72B | 1.45B | 4.27B | 1.34B | 2.24B | 2.37B |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 153M | 141M | 155M | 141M | 140M | 130M | 152M | 134M | 143M | 134M | 164M | 140M | 133M | 124M | 158M | 121M | 118M | 108M | 118M | 99M |
| EPS (Diluted) | 1.70 | 1.85 | 1.90 | 0.92 | 1.33 | 1.11 | 2.13 | 2.23 | 1.48 | 0.94 | 2.24 | 1.99 | 1.40 | 0.37 | 1.95 | 1.03 | 3.06 | 0.95 | 1.60 | 1.70 |
| EPS Growth % | 27.82% | 66.67% | -10.8% | -58.74% | -10.14% | 18.09% | -4.91% | 12.06% | 5.71% | 154.05% | 14.87% | 93.2% | -54.25% | -61.05% | 21.88% | -39.41% | 146.77% | -28.57% | -3.03% | 44.07% |
| EPS (Basic) | 1.70 | 1.86 | 1.90 | 0.92 | 1.34 | 1.11 | 2.13 | 2.24 | 1.49 | 0.95 | 2.25 | 1.99 | 1.40 | 0.38 | 1.96 | 1.03 | 3.08 | 0.96 | 1.61 | 1.71 |
| Diluted Shares Outstanding | 1.37B | 1.37B | 1.37B | 1.37B | 1.38B | 1.38B | 1.38B | 1.38B | 1.38B | 1.38B | 1.38B | 1.38B | 1.38B | 1.39B | 1.39B | 1.39B | 1.39B | 1.39B | 1.39B | 1.39B |
| Basic Shares Outstanding | 1.37B | 1.37B | 1.37B | 1.37B | 1.37B | 1.37B | 1.37B | 1.38B | 1.38B | 1.37B | 1.38B | 1.38B | 1.38B | 1.38B | 1.38B | 1.38B | 1.38B | 1.38B | 1.38B | 1.38B |
| Dividend Payout Ratio | 84.09% | 76.61% | 74.88% | 147.35% | 102.62% | 122.13% | 63.58% | 56.41% | 86.53% | 133.72% | 56.34% | 57.9% | 83.23% | 306.18% | 58.81% | 104.41% | 35.32% | 112.48% | 66.82% | 59.92% |