PepsiCo Income Statement

Financials in millions USD. Fiscal year is January - December.

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 27, 2025	Dec '24 Dec 28, 2024	Dec '23 Dec 30, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 25, 2021
Revenue	93,925	91,854	91,471	86,392	79,474
Revenue Growth (YoY)	2.25%	0.42%	5.88%	8.71%	12.93%
Cost of Revenue	43,066	41,435	41,737	40,342	37,046
Gross Profit	50,859	50,419	49,734	46,050	42,428
Selling, General & Admin	37,501	35,235	34,951	32,954	29,814
Research & Development	-	813	804	771	752
Other Operating Expenses	-	-9	-32	15	4
Operating Expenses	37,501	36,039	35,723	33,740	30,570
Operating Income	13,358	14,380	14,011	12,310	11,858
Interest Expense	-1,121	-878	-859	-780	-1,799
Currency Exchange Gain (Loss)	-	2	41	-	-
EBT Excluding Unusual Items	12,237	13,504	13,193	11,530	10,059
Merger & Restructuring Charges	-	-727	-445	-1,059	-247
Gain (Loss) on Sale of Investments	-	122	-	-	-
Gain (Loss) on Sale of Assets	-	-	108	3,321	18
Asset Writedown	-1,993	-714	-1,230	-2,878	-
Other Unusual Items	-	-239	-209	-209	-9
Pretax Income	10,244	11,946	11,417	10,705	9,821
Income Tax Expense	1,949	2,320	2,262	1,727	2,142
Earnings From Continuing Operations	8,295	9,626	9,155	8,978	7,679
Minority Interest in Earnings	-55	-48	-81	-68	-61
Net Income	8,240	9,578	9,074	8,910	7,618
Net Income to Common	8,240	9,578	9,074	8,910	7,618
Net Income Growth	-13.97%	5.55%	1.84%	16.96%	6.99%
Shares Outstanding (Basic)	1,369	1,373	1,376	1,380	1,382
Shares Outstanding (Diluted)	1,373	1,378	1,383	1,387	1,389
Shares Change (YoY)	-0.36%	-0.36%	-0.29%	-0.14%	-0.22%
EPS (Basic)	6.02	6.98	6.59	6.46	5.51
EPS (Diluted)	6.00	6.95	6.56	6.42	5.49
EPS Growth	-13.67%	5.95%	2.18%	16.94%	7.23%
Free Cash Flow	7,672	7,189	7,924	5,604	6,991
Free Cash Flow Per Share	5.59	5.22	5.73	4.04	5.03
Dividend Per Share	-	5.330	4.945	4.525	4.247
Dividend Growth	-	7.79%	9.28%	6.53%	5.59%
Gross Margin	54.15%	54.89%	54.37%	53.30%	53.39%
Operating Margin	14.22%	15.65%	15.32%	14.25%	14.92%
Profit Margin	8.77%	10.43%	9.92%	10.31%	9.59%
Free Cash Flow Margin	8.17%	7.83%	8.66%	6.49%	8.80%
EBITDA	16,809	17,341	16,800	14,950	14,433
EBITDA Margin	17.90%	18.88%	18.37%	17.30%	18.16%
D&A For EBITDA	3,451	2,961	2,789	2,640	2,575
EBIT	13,358	14,380	14,011	12,310	11,858
EBIT Margin	14.22%	15.65%	15.32%	14.25%	14.92%
Effective Tax Rate	19.03%	19.42%	19.81%	16.13%	21.81%
Advertising Expenses	-	3,900	3,800	3,500	3,500

Source: S&P Global Market Intelligence. Standard template. Financial Sources.