Pepsico annual operating margin
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2024
2025
Pepsico Operating Margin Growth & History (PEP)
Pepsico's operating margin was 12.24% for fiscal 2025.
View full Pepsico company overviewPepsico annual operating margin history
| Fiscal year | Period ended | Operating margin | Change (percentage points) |
|---|---|---|---|
| 2025 | 2025-12-27 | 12.24% | −1.79 pp |
| 2024 | 2024-12-28 | 14.03% | +0.93 pp |
| 2023 | 2023-12-30 | 13.10% | −0.22 pp |
| 2022 | 2022-12-31 | 13.33% | −0.72 pp |
| 2021 | 2021-12-25 | 14.04% | −0.28 pp |
| 2020 | 2020-12-26 | 14.32% | −1.00 pp |
| 2019 | 2019-12-28 | 15.32% | −0.31 pp |
| 2018 | 2018-12-29 | 15.64% | −0.54 pp |
| 2017 | 2017-12-30 | 16.18% | +0.56 pp |
| 2016 | 2016-12-31 | 15.61% | +2.36 pp |
| 2015 | 2015-12-26 | 13.25% | −1.12 pp |
| 2014 | 2014-12-27 | 14.37% | −0.24 pp |
| 2013 | 2013-12-28 | 14.61% | +0.70 pp |
| 2012 | 2012-12-29 | 13.91% | −0.57 pp |
| 2011 | 2011-12-31 | 14.48% | +0.08 pp |
| 2010 | 2010-12-25 | 14.41% | −4.20 pp |
| 2009 | 2009-12-26 | 18.61% | +2.52 pp |
| 2008 | 2008-12-27 | 16.09% | −2.10 pp |
| 2007 | 2007-12-29 | 18.19% | — |
Pepsico quarterly operating margin
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Q1.09
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Q4.20
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Q4.21
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Q2.22
Q3.22
Q4.22
Q1.23
Q2.23
Q3.23
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Q1.24
Q2.24
Q3.24
Q4.24
Q1.25
Q2.25
Q3.25
Q4.25
Q1.26
Q2.26
| Fiscal quarter | Period ended | Operating margin | Change (percentage points) |
|---|---|---|---|
| Q2 2026 | 2026-06-13 | 16.64% | +8.76 pp |
| Q1 2026 | 2026-03-21 | 16.53% | +2.11 pp |
| Q4 2025 | 2025-12-27 | 12.12% | +4.02 pp |
| Q3 2025 | 2025-09-06 | 14.91% | −1.69 pp |
| Q2 2025 | 2025-06-14 | 7.87% | −10.12 pp |
| Q1 2025 | 2025-03-22 | 14.41% | −0.47 pp |
| Q4 2024 | 2024-12-28 | 8.10% | +2.06 pp |
| Q3 2024 | 2024-09-07 | 16.60% | −0.51 pp |
| Q2 2024 | 2024-06-15 | 17.99% | +1.60 pp |
| Q1 2024 | 2024-03-23 | 14.89% | +0.16 pp |
| Q4 2023 | 2023-12-30 | 6.04% | +3.13 pp |
| Q3 2023 | 2023-09-09 | 17.12% | +1.86 pp |
| Q2 2023 | 2023-06-17 | 16.39% | +6.12 pp |
| Q1 2023 | 2023-03-25 | 14.73% | −17.78 pp |
| Q4 2022 | 2022-12-31 | 2.91% | −7.24 pp |
| Q3 2022 | 2022-09-03 | 15.26% | −0.39 pp |
| Q2 2022 | 2022-06-11 | 10.27% | −6.01 pp |
| Q1 2022 | 2022-03-19 | 32.51% | +16.91 pp |
| Q4 2021 | 2021-12-25 | 10.15% | −2.44 pp |
| Q3 2021 | 2021-09-04 | 15.65% | −1.00 pp |
| Q2 2021 | 2021-06-12 | 16.28% | +1.74 pp |
| Q1 2021 | 2021-03-20 | 15.60% | +1.74 pp |
| Q4 2020 | 2020-12-26 | 12.59% | −0.49 pp |
| Q3 2020 | 2020-09-05 | 16.64% | +0.03 pp |
| Q2 2020 | 2020-06-13 | 14.54% | −2.05 pp |
| Q1 2020 | 2020-03-21 | 13.86% | −1.72 pp |
| Q4 2019 | 2019-12-28 | 13.08% | +0.63 pp |
| Q3 2019 | 2019-09-07 | 16.61% | −0.64 pp |
| Q2 2019 | 2019-06-15 | 16.59% | −2.23 pp |
| Q1 2019 | 2019-03-23 | 15.59% | +1.20 pp |
| Q4 2018 | 2018-12-29 | 12.45% | −0.71 pp |
| Q3 2018 | 2018-09-08 | 17.25% | −0.75 pp |
| Q2 2018 | 2018-06-16 | 18.82% | +0.24 pp |
| Q1 2018 | 2018-03-24 | 14.38% | −1.08 pp |
| Q4 2017 | 2017-12-30 | 13.16% | +0.86 pp |
| Q3 2017 | 2017-09-09 | 18.00% | +0.40 pp |
| Q2 2017 | 2017-06-17 | 18.58% | −0.67 pp |
| Q1 2017 | 2017-03-25 | 15.46% | +1.81 pp |
| Q4 2016 | 2016-12-31 | 12.30% | +0.25 pp |
| Q3 2016 | 2016-09-03 | 17.60% | +8.93 pp |
| Q2 2016 | 2016-06-11 | 19.25% | +1.04 pp |
| Q1 2016 | 2016-03-19 | 13.65% | −1.06 pp |
| Q4 2015 | 2015-12-26 | 12.05% | +1.87 pp |
| Q3 2015 | 2015-09-05 | 8.67% | −7.86 pp |
| Q2 2015 | 2015-06-13 | 18.21% | +1.07 pp |
| Q1 2015 | 2015-03-21 | 14.71% | +0.39 pp |
| Q4 2014 | 2014-12-27 | 10.18% | −1.74 pp |
| Q3 2014 | 2014-09-06 | 16.54% | +0.09 pp |
| Q2 2014 | 2014-06-14 | 17.14% | +0.07 pp |
| Q1 2014 | 2014-03-22 | 14.32% | +1.14 pp |
| Q4 2013 | 2013-12-28 | 11.92% | +0.83 pp |
| Q3 2013 | 2013-09-07 | 16.44% | −0.37 pp |
| Q2 2013 | 2013-06-15 | 17.07% | +2.63 pp |
| Q1 2013 | 2013-03-23 | 13.18% | −0.68 pp |
| Q4 2012 | 2012-12-29 | 11.09% | −0.06 pp |
| Q3 2012 | 2012-09-08 | 16.81% | +0.29 pp |
| Q2 2012 | 2012-06-16 | 14.44% | −1.92 pp |
| Q1 2012 | 2012-03-24 | 13.86% | −0.60 pp |
| Q4 2011 | 2011-12-31 | 11.15% | −1.14 pp |
| Q3 2011 | 2011-09-03 | 16.53% | −1.52 pp |
| Q2 2011 | 2011-06-11 | 16.37% | −0.26 pp |
| Q1 2011 | 2011-03-19 | 14.46% | +5.49 pp |
| Q4 2010 | 2010-12-25 | 12.29% | −3.01 pp |
| Q3 2010 | 2010-09-04 | 18.05% | −2.10 pp |
| Q2 2010 | 2010-06-12 | 16.63% | −4.05 pp |
| Q1 2010 | 2010-03-20 | 8.97% | −10.25 pp |
| Q4 2009 | 2009-12-26 | 15.30% | −2.41 pp |
| Q3 2009 | 2009-09-05 | 20.14% | — |
| Q2 2009 | 2009-06-13 | 20.68% | — |
| Q1 2009 | 2009-03-21 | 19.22% | — |
| Q3 2008 | 2008-09-06 | 17.71% | — |
Pepsico operating margin trends
Over the last five reported fiscal years, Pepsico's operating margin decreased from 14.32% to 12.24%, a change of −2.08 percentage points. The latest reported quarter, Q2 2026, shows 16.64%.
About the metric
What operating margin means
Operating margin measures the percentage of revenue left after operating costs and expenses. It shows how much operating profit a company generates from each dollar of revenue.
Calculation and source
How operating margin is calculated
TickerStat calculates operating margin as SEC-reported operating income divided by SEC-reported revenue for the same fiscal period. Changes are shown in percentage points. Fiscal periods can differ from calendar years, so exact period-end dates are included.
Review Pepsico filings at SEC.gov ↗