PEP PepsiCo margins

Relative Growth: Rel. Growth:

Relative Strength: Rel. Strength:

Relative Valuation: Rel. Valuation:

Relative Profitability: Rel. Profitability: 88

Gross margin

54.2%

Operating margin

15.3%

EBITDA margin

19.5%

Net margin

11.1%

Current PepsiCo reports a gross margin of 54.2%, an operating margin of 15.3%, an EBITDA margin of 19.5%, and a net margin of 11.1%. All measured margins increased year over year, led by operating margin with an increase of 4.3 percentage points.

PEP margin history

Gross, operating, EBITDA and net margin trends

Over the last 3 years, PepsiCo's margins averaged 54.29% gross, 13.2% operating, 17.41% EBITDA, and 9.73% net. Currently, operating, EBITDA, and net margins are above their three-year averages, while gross margin is below its three-year average.

PEP margin expansion

Year-over-year margin changes in percentage points

Year over year, gross, operating, EBITDA, and net margins all increased, with operating margin showing the largest gain at 4.3 percentage points.

Gross margin expansion

0.2pp

Operating margin expansion

4.3pp

EBITDA margin expansion

4.2pp

Net margin expansion

3.3pp

PEP Gross margin

In the last 3 years, PepsiCo had an average gross margin of 54.29%. PepsiCo currently reports a gross margin of 54.2%, 0.1 percentage points below its three-year average. Looking back over the last 3 years, PepsiCo's gross margin reached 54.7% at its highest point in Mar 2025 and 54% at its lowest in Sep 2025.

PEP Operating margin

Over the last 3 years, the average operating margin for PepsiCo was 13.2%. The latest operating margin for PepsiCo is 15.3%, 2.1 percentage points above its three-year average. PepsiCo's operating margin ranged from a low of 11% in Sep 2025 to a high of 15.3% in Sep 2026.

PEP EBITDA margin

The average EBITDA margin for PepsiCo was 17.41% during the last 3 years. At present, the current EBITDA margin for PepsiCo is 19.5%, 2.1 percentage points above its three-year average. The EBITDA margin for PepsiCo moved between 15.3% in Sep 2025 and 19.5% in Sep 2026.

PEP Net margin

The average net margin for PepsiCo was 9.73% in the last 3 years. The current net margin of 11.1% is 1.4 percentage points above its three-year average. The net margin for PepsiCo moved between 7.8% in Sep 2025 and 11.1% in Sep 2026.

PEP margin group comparison

Margins compared with peer-group, industry and sector averages

PepsiCo's gross margin of 54.2% is higher than the Consumer Defensive sector and the industry average. In comparison with the Consumer Defensive sector average of 36.6%, PepsiCo's gross margin is 48% higher.

PEP margin peer comparison

Compare margins with selected peers

Frequently asked questions

What is PepsiCo's gross margin?

As of Sep 5, 2026, PEP has a gross margin of 54.2%.

What is PepsiCo's operating margin?

The current operating margin for PEP is 15.3% as of Sep 5, 2026.

What is PepsiCo's EBITDA margin?

The current EBITDA margin for PEP is 19.5% as of Sep 5, 2026.

What is PepsiCo's net margin?

For the period ending Sep 5, 2026, PEP recorded a net margin of 11.1%.

What are the average margins of PEP?

Over the past 3 years, PEP reported average margins of 54.3% gross, 13.2% operating, 17.4% EBITDA, and 9.7% net.

What are the highest historical margins of PEP?

Looking back across 5 years, PEP reached 54.7% gross in Mar 2025, 17.5% operating in Mar 2022, 22% EBITDA in Mar 2022, and 12.6% net in Mar 2022.

What are the lowest historical margins of PEP?

Within the 5-year period, PEP recorded its lowest margins at 53% gross in Sep 2022, 10.1% operating in Mar 2023, 13.8% EBITDA in Mar 2023, and 7.5% net in Mar 2023.