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PepsiCo PEP Operating margin

Operating margin at other companies

Campbell Soup logo
Campbell SoupCPB
11.3%+2.1pp
Coca-Cola logo
Coca-ColaKO
29.6%+1.7pp
Conagra Brands logo
Conagra BrandsCAG
-14.4%-26.2pp
General Mills logo
General MillsGIS
4.8%-12.2pp
Hershey logo
HersheyHSY
17.8%-0.9pp
National Beverage logo
National BeverageFIZZ
19.5%-0.1pp

Other financials

Income statement

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Revenue$24.2B+6.4%
Gross profit$13.1B+5.5%
Operating income$4.0B+125%
Net income$3.0B+136%
EPS (diluted)$2.18+137%

Balance sheet

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Cash & equivalents$10.3B+33.6%
Total debt$53.2B+3.6%
Total equity$22.1B+20.0%
Total assets$112.19B+6.5%

Cash flow

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Operating cash flow$2.4B+137%
CapEx$1.3B-16.0%
Free cash flow$1.1B+315%

Valuation

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Market cap$190.48B-0.3%
Enterprise value$233.4B-0.6%
P/E18.2×-7.1×
P/S-0.1×

Profitability

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Gross margin54%-0.5pp
Net margin10.8%+2.6pp
FCF margin10.8%+3.0pp

Returns & leverage

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Return on equity51.6%+11.7pp
Debt / equity2.4×-0.4×
Current ratio0.9×+0.2×

Where this comes from

Calculated from PepsiCo’s reported figures.

Based on trailing twelve months.

The source filing: PepsiCo’s 10-Q, filed July 8, 2026. Open the filing →

Filed
Jul 8, 2026, 1:52 PM EDT
Fiscal quarter
Q2 FY2026
Calendar quarter
Q2 2026
Accession
0000077476-26-000035

FAQ

What is PepsiCo's operating margin?
PepsiCo (PEP) reported operating margin of 14.8% in Q2 2026.
How has PepsiCo's operating margin changed year-over-year?
PepsiCo's operating margin increased by 29.6% year-over-year, from 11.4% to 14.8%.
What is the long-term trend for PepsiCo's operating margin?
Over 5 years (2020 to 2025), PepsiCo's operating margin has grown at a -3.1% compound annual growth rate (CAGR), from 14.3% to 12.2%.
What does operating margin mean?
Operating income as a percentage of revenue (trailing twelve months). Captures profitability from core operations after both cost of revenue and operating expenses, but before interest and taxes.

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