PepsiCo $PEP Read from its own SEC filings · nothing written, nothing inferred
🫧 Edgar looked up PepsiCo, Inc. ($PEP). Last filing: 8-K (5.02 Departure or Election of Directors; Appointment of Officers), 2026-09-17. 10 event filings (8-K) in the past twelve months.
🔖 Exposure: revenue $93.9B (FY2025), total debt $46.4B. Experience: revenue up 2.3% on the year, up 4.3% a year over 4 years; operating margin 12.2%, down from 14.0%. Soundness: equity 19.0% of assets, return on equity 40.6%, payout 92.1% of profit, dividend per share up 17 years running. Credibility: four or more audited years, reasonable weight. Range: 80% of past cases like this landed between $86.7B and $100.2B next year (method v4.1: its own 4-year record of growth weighed at 50% against $10B+ filers; on a year the method never saw, 83.4% landed inside). In a shock year the stress range is $81.3B to $106.2B. A statistical range, not company guidance. Against peers (9 filers, $50M+ revenue, beverages): operating margin 12.2% against a 12.2% median; growth 2.3% against 1.9%.
Gold paid out, navy kept. Kept share × return on equity = the growth it can fund itself. Facts from the filings, not a recommendation.
Speed and cash · fiscal 2025
Both views must agree for a label · a description, not advice.
| Cash flow (op · inv · fin · free) | $12.1B · −$6.9B · −$5.0B · $7.7B |
| Investment book (cash · short · long) | $9.2B · $371M · — · current ratio 0.85 · unrealized $860M |
| Revenue swing · equity of assets | 3.5% · 19.0% |
PepsiCo is growing slower than its size class, with steadier revenue. Its own audited SEC figures.
The figures, as filed
| Fiscal year end | 2025-12-27 |
| Revenue | $93.9B |
| Revenue, on the year | 2.3% |
| Revenue, a year over the record | 4.3% |
| Operating margin | 12.2% |
| Operating margin, prior year | 14.0% |
| Net margin | 8.8% |
| Research and development | $839M · 0.9% of revenue |
| Total debt | $46.4B |
| Equity of assets | 19.0% |
| Return on equity | 40.6% |
| Payout of profit | 92.1% |
| Dividend per share | $5.6225 · up 17 years running |
| Earnings per share | $6.02 |
| Book value per share | $14.86 |
| Revenue per share | $68.41 |
| Shares outstanding | 1,373,000,000 |
| Audited years read | 5 |
Peers: the median of 9 filers with $50M+ revenue in beverages.
Health HarborPepsiCo sails as: New ship
Health watch · 12 monthsDirector or officer change ×3
Sailing speed follows growth: 2.8% a year crosses the harbor in 72 seconds.
🌊 Visit the Bay →No warning signs on the measures below.
Boat condition = number of warning signs: a serious warning filing in 12 months; liabilities over assets; slow and jumpy; negative operating cash; an 80% revenue range of ±25% or wider. A picture of the signs, not a rating and not investment advice.
- 8-K · 2026-09-17 · 5.02 Departure or Election of Directors; Appointment of Officers
- 8-K · 2026-07-09 · 2.02 Results of Operations and Financial Condition; 9.01 Financial Statements and Exhibits
- 10-Q · 2026-07-09
- 8-K · 2026-05-22 · 8.01 Other Events; 9.01 Financial Statements and Exhibits
- 8-K · 2026-05-08 · 5.07 Submission of Matters to a Vote of Security Holders
- 8-K · 2026-04-16 · 2.02 Results of Operations and Financial Condition; 9.01 Financial Statements and Exhibits
Figures are as filed in audited 10-K reports and can move with restatements, acquisitions, disposals or a change in fiscal year. A range set from how past company-years turned out is not a promise about the next one, and says nothing about the share price. Reporting, not investment advice. No price targets and no trading recommendations. Figures from the SEC’s own data · every filing · this page as JSON · ask about another company