Pepsico (PEP) Operating Expenses (2009 - 2026)

For the trailing twelve months through Jun 13, 2026, Operating Expenses at Pepsico was $37.79 billion, up 0.6% year-over-year; for FY2025, it came in at $37.37 billion, up 0.5% from FY2024.

• Annual Operating Expenses has increased for eight consecutive years, with a five-year compound annual growth rate of 5.6% (FY2020 to FY2025).
• In prior years, Pepsico's Operating Expenses was $37.19 billion in FY2024 (+1.4%), $36.68 billion in FY2023 (+6.4%), $34.46 billion in FY2022 (+10.3%) and $31.24 billion in FY2021 (+9.8%).
• Quarterly Operating Expenses has run from a low of $6.58 billion in Q1 2022 to a high of $12.34 billion in Q4 2024 over five years.
• On a year-over-year basis, Operating Expenses increased in seven of the last eight quarters, with growth averaging 1.6%.
• The strongest year-over-year quarter for Operating Expenses in the past five years was Q2 2023, with growth of 15.6%; the weakest was Q4 2025, with a decline of 2.3%.