Pepsico (PEP) Operating Margin (2009 - 2026)
Pepsico (PEP) posted quarterly Operating Margin of 16.64% for Q2 2026, up 876.0% year-over-year from 1.7% in Q2 2025, and up 0.68% quarter-over-quarter from 16.53% in Q1 2026.
Pepsico (PEP) Operating Margin (2009 - 2026) Analysis & Trends
Pepsico (PEP) has reported Operating Margin for 18 consecutive years, with 16.64% the latest figure, recorded in Q2 2026.
- In Q2 2026, Operating Margin rose 876.0% year-over-year to 16.64%; the TTM figure through Jun 2026 stood at 14.82% (up 338.0% YoY), while the FY2025 annual figure was 12.24%, down 179.0% from the prior year.
- Operating Margin climbed to 16.64% in Q2 2026 per PEP's latest filing, from 16.53% in the prior quarter.
- Across five years, Operating Margin topped out at 32.51% in Q1 2022 and bottomed at 2.91% in Q4 2022.
- Historically, Operating Margin has averaged 14.18% across 5 years, with a median of 14.9% in 2024.
- Annual changes were most pronounced in 2022 — Operating Margin jumped 1691 bps — and 2023, when it plunged 1778 bps.
- Pepsico's Operating Margin stood at 2.91% in 2022, then soared by 108 bps to 6.04% in 2023, then surged by 34 bps to 8.1% in 2024, then soared by 50 bps to 12.12% in 2025, then surged by 37 bps to 16.64% in 2026.
- Business Quant data shows PEP's Operating Margin at 16.64% in Q2 2026, 16.53% in Q1 2026, and 12.12% in Q4 2025.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Operating Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Coca Cola Femsa Sab De Cv | 1,826.75 Bn | 1,826.75 Bn | 2.06 Bn | 13.21% |
| 2 | Coca Cola | 372.66 Bn | 358.51 Bn | 8.42 Bn | 34.92% |
| 3 | Pepsico | 188.33 Bn | 177.61 Bn | 13.11 Bn | 16.64% |
| 4 | Coca-Cola Europacific Partners | 48.39 Bn | 47.22 Bn | - | - |
| 5 | Monster Beverage | 44.72 Bn | 41.31 Bn | 1.42 Bn | 29.18% |
| 6 | Keurig Dr Pepper | 39.59 Bn | 38.70 Bn | 2.10 Bn | 19.01% |
| 7 | Andina Bottling | 22.49 Bn | 22.49 Bn | 319.18 Bn | 66.47% |
| 8 | Coca-Cola Consolidated | 10.14 Bn | 9.97 Bn | 778.41 Mn | 13.22% |
| 9 | Primo Brands | 8.53 Bn | 8.16 Bn | 548.70 Mn | 10.04% |
| 10 | Celsius Holdings | 6.97 Bn | 6.34 Bn | 393.69 Mn | 9.20% |
Historic Data
Download Data| Date | Value |
|---|---|
| Jun 13, 2026 | 16.64% |
| Mar 21, 2026 | 16.53% |
| Dec 27, 2025 | 12.12% |
| Sep 6, 2025 | 14.91% |
| Jun 14, 2025 | 7.87% |
| Mar 22, 2025 | 14.41% |
| Dec 28, 2024 | 8.10% |
| Sep 7, 2024 | 16.60% |
| Jun 15, 2024 | 17.99% |
| Mar 23, 2024 | 14.89% |
| Dec 30, 2023 | 6.04% |
| Sep 9, 2023 | 17.12% |
| Jun 17, 2023 | 16.39% |
| Mar 25, 2023 | 14.73% |
| Dec 31, 2022 | 2.91% |
| Sep 3, 2022 | 15.26% |
| Jun 11, 2022 | 10.27% |
| Mar 19, 2022 | 32.51% |
| Dec 25, 2021 | 10.15% |
| Sep 4, 2021 | 15.65% |