Pepsico (PEP) Operating Expenses (2009 - 2026)
Pepsico (PEP) posted Operating Expenses of $9.49 billion for Q3 2026, up 4.1% from $9.12 billion a year earlier and up 4.5% from the prior quarter.
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Analysis
Pepsico (PEP) Operating Expenses (2009 - 2026) Analysis & Trends
For the trailing twelve months through Sep 5, 2026, Operating Expenses at Pepsico was $38.16 billion, up 1.4% 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 has increased in each of the last three quarters, with growth averaging 1.8% over the last eight quarters.
- 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%.
- According to Business Quant data, Operating Expenses for the three prior quarters was $9.09 billion (Q2 2026), $7.52 billion (Q1 2026) and $12.06 billion (Q4 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | Coca Cola | 415.05 Bn | 401.36 Bn | 8.45 Bn | 3.98 Bn |
| 2 | Coca Cola Femsa Sab De Cv | 195.63 Bn | 195.63 Bn | 2.15 Bn | 1.51 Bn |
| 3 | Pepsico | 194.97 Bn | 152.73 Bn | 13.75 Bn | 9.49 Bn |
| 4 | Monster Beverage | 95.69 Bn | 83.94 Bn | 1.42 Bn | 679.19 Mn |
| 5 | Diageo | 54.44 Bn | 34.51 Bn | - | - |
| 6 | Coca-Cola Europacific Partners | 53.15 Bn | 45.82 Bn | - | 1.63 Bn |
| 7 | Keurig Dr Pepper | 50.27 Bn | 46.32 Bn | 3.07 Bn | 2.40 Bn |
| 8 | Ambev | 43.18 Bn | 27.99 Bn | 2.14 Bn | 281.32 Mn |
| 9 | Constellation Brands | 25.00 Bn | 24.55 Bn | 1.39 Bn | 538.20 Mn |
| 10 | Brown Forman | 14.15 Bn | 12.83 Bn | 549.00 Mn | 185.00 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Sep 5, 2026 | 9.49 Bn |
| Jun 13, 2026 | 9.09 Bn |
| Mar 21, 2026 | 7.52 Bn |
| Dec 27, 2025 | 12.06 Bn |
| Sep 6, 2025 | 9.12 Bn |
| Jun 14, 2025 | 8.77 Bn |
| Mar 22, 2025 | 7.41 Bn |
| Dec 28, 2024 | 12.34 Bn |
| Sep 7, 2024 | 9.03 Bn |
| Jun 15, 2024 | 8.53 Bn |
| Mar 23, 2024 | 7.29 Bn |
| Dec 30, 2023 | 12.14 Bn |
| Sep 9, 2023 | 8.76 Bn |
| Jun 17, 2023 | 8.54 Bn |
| Mar 25, 2023 | 7.23 Bn |
| Dec 31, 2022 | 12.20 Bn |
| Sep 3, 2022 | 8.30 Bn |
| Jun 11, 2022 | 7.39 Bn |
| Mar 19, 2022 | 6.58 Bn |
| Dec 25, 2021 | 10.56 Bn |
API Access
Pepsico Operating Expenses API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=operating-expenses&ticker=PEP&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "operating-expenses", "ticker": "PEP", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=operating-expenses&ticker=PEP&period=max&api_key=YOUR_API_KEY");
const data = await res.json();