PepsiCo, Inc. (PEP) Stock

PepsiCo, Inc. (PEP) is a Consumer Staples stock trading at $137.14 (as of 2026-07-17), with a market capitalization of $187.18B and a trailing P/E of 17.9. Figures are sourced from first-party U.S. SEC EDGAR filings and market data.

PepsiCo manufactures, markets, distributes, and sells beverages and convenient foods worldwide. It operates multiple segments spanning branded snacks, cereals and other food products, and beverages, serving wholesale/distribution partners and foodservice and retail customers through direct-store-delivery, customer warehouse and distributor networks, as well as e-commerce and retailers.

Understand PepsiCo, Inc.: how it makes money

PepsiCo makes and sells beverages and convenient foods, earning money from product sales across snacks (Frito-Lay), foods (Quaker), and beverages (PepsiCo Beverages), with distribution through regional businesses worldwide.

The profit engine is balancing two large profit pools, beverages and convenient foods, while protecting execution (service levels) and growing relative demand (food and beverage share gains) across regions.

Revenue by segment (latest quarter)
Frito-Lay NA	$5.7B
Quaker NA	$0.6B
PepsiCo Bevs NA	$5.9B
Latin Am	$2.1B
Europe	$1.9B
AMEASA	$1.0B
APAC, ANZ and China	$1.1B

Business quality (Mixed): PepsiCo has a clear, diversified operating footprint (snacks and beverages), and the most actionable operating read-through appears to be execution (service levels) plus relative demand strength via market share gains.

Valuation: At 22× earnings, PEP trades 11% below the Beer & Liquor average (25×). Note: one-time items can distort reported P/E.

Bull case

Share growth focus across both foods and beverages: The company tracks food market share gains in share gain markets (70.0%) and beverage market share gains in international markets (70.0%).
Execution metric suggests strong delivery reliability: Service levels are reported at 97.5 percent, which supports the ability to keep products available for consumers and retailers.
Product and system integration is being actively managed: Celsius integration into the PepsiCo system is reported at 80.0 percent.

Bear case

Operational execution can constrain results quickly: If service levels weaken from the current 97.5 percent, it can impair product availability and potentially reduce the ability to convert demand into sales.
Market share gains are not guaranteed and must be sustained: The bull case relies on share momentum (70.0 percent for food and 70.0 percent for international beverages), and any reversal would be a direct negative read-through.
Away-from-home demand is an important moving part: The away-from-home business index versus 2019 is tracked at 90.0 percent, so shifts in that environment can impact beverage and food performance.

Valuation — source: SEC EDGAR (first-party)
Price	$137.14
Market Cap	$187.18B
P/E Ratio	17.9
EV / EBITDA	10.4
Price / Book	8.41
Price / Sales	1.93
FCF Yield	5.3%
DCF Value (model)	$68.33
DCF Upside vs Price	-50.2%

Profitability & Growth — source: SEC EDGAR
Revenue (TTM)	$93.92B
Net Margin	8.8%
Revenue Growth (YoY)	6.4%
EPS Growth (YoY)	137.0%
FCF Growth (YoY)	1094.6%

Financial Health — source: SEC EDGAR
Altman Z-Score	3.42 (safe)
Piotroski F-Score	5/9 (moderate)

Valuation vs Sector & Industry
Stock P/E	17.9
Sector P/E (Consumer Staples)	26.4
Industry P/E (Beer & Liquor)	23.4
vs Sector	-32.1%
vs Industry	-23.3%

Smart-Money Activity — SEC Form 4 / 13F / Congressional disclosures
Top Institutional Holder	VANGUARD GROUP INC ($19.88B)
Institutional Holders Tracked	10
Congressional Trades (recent)	10

Company
Sector	Consumer Staples
Industry	Beer & Liquor
CEO	Ramon Luis Laguarta
Employees	319,000
Country	US
IPO Date	1972-06-01

Related Companies (Business model: Branded Consumer (CPG, Staples, Beauty, Alcohol, Pet, Nicotine); 8 closest by market cap; US-domiciled)

Data as of 2026-07-17.

Figures sourced from U.S. Securities and Exchange Commission (SEC EDGAR) filings and market data. Not personalized investment advice.