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Coca Cola vs Pepsico: revenue, profit, margins and growth compared

Coca Cola brought in $47.9B of revenue in fiscal 2025, Pepsico $93.9B in fiscal 2025. Revenue changed by +1.9% at Coca Cola and +2.3% at Pepsico on the year before, so Pepsico grew faster. Coca Cola kept 27.3% of its revenue as net profit, Pepsico 8.8%. Free cash flow was $5.3B at Coca Cola and $7.7B at Pepsico.

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Side by side, latest fiscal year

KOPEP
Fiscal year endedFY2025 (December 31, 2025)FY2025 (December 27, 2025)
Revenue$47.9B$93.9B
Revenue growth+1.9%+2.3%
Net income$13.1B$8.2B
Net margin27.3%8.8%
Free cash flow$5.3B$7.7B
Free cash flow margin11.0%8.2%
Earnings per share (diluted)$3.04$6.00
Cash$10.3B$9.2B
Debt$43.9B$46.4B
Price to earnings28.921.4
Market value$377.8B$175.6B
Dividend yield2.32%4.37%
Rank by revenue in sector#9 of 93 · Consumer staples#3 of 93 · Consumer staples

Over the years

Revenue
KO FY2018: $34.3BKO FY2019: $37.3BKO FY2020: $33BKO FY2021: $38.7BKO FY2022: $43BKO FY2023: $45.8BKO FY2024: $47.1BKO FY2025: $47.9BPEP FY2018: $64.7BPEP FY2019: $67.2BPEP FY2020: $70.4BPEP FY2021: $79.5BPEP FY2022: $86.4BPEP FY2023: $91.5BPEP FY2024: $91.9BPEP FY2025: $93.9BFY18FY19FY20FY21FY22FY23FY24FY25
KO $47.9BPEP $93.9B
Net income
KO FY2018: $6.4BKO FY2019: $8.9BKO FY2020: $7.7BKO FY2021: $9.8BKO FY2022: $9.5BKO FY2023: $10.7BKO FY2024: $10.6BKO FY2025: $13.1BPEP FY2018: $12.5BPEP FY2019: $7.3BPEP FY2020: $7.1BPEP FY2021: $7.6BPEP FY2022: $8.9BPEP FY2023: $9.1BPEP FY2024: $9.6BPEP FY2025: $8.2BFY18FY19FY20FY21FY22FY23FY24FY25
KO $13.1BPEP $8.2B
Net margin
KO FY2018: 18.8%KO FY2019: 23.9%KO FY2020: 23.5%KO FY2021: 25.3%KO FY2022: 22.2%KO FY2023: 23.4%KO FY2024: 22.6%KO FY2025: 27.3%PEP FY2018: 19.4%PEP FY2019: 10.9%PEP FY2020: 10.1%PEP FY2021: 9.6%PEP FY2022: 10.3%PEP FY2023: 9.9%PEP FY2024: 10.4%PEP FY2025: 8.8%FY18FY19FY20FY21FY22FY23FY24FY25
KO 27.3%PEP 8.8%
Revenue growth
KO FY2019: +8.6%KO FY2020: -11.4%KO FY2021: +17.1%KO FY2022: +11.3%KO FY2023: +6.4%KO FY2024: +2.9%KO FY2025: +1.9%PEP FY2019: +3.9%PEP FY2020: +4.8%PEP FY2021: +12.9%PEP FY2022: +8.7%PEP FY2023: +5.9%PEP FY2024: +0.4%PEP FY2025: +2.3%FY19FY20FY21FY22FY23FY24FY25
KO +1.9%PEP +2.3%
Free cash flow
KO FY2018: $6.1BKO FY2019: $8.4BKO FY2020: $8.7BKO FY2021: $11.3BKO FY2022: $9.5BKO FY2023: $9.7BKO FY2024: $4.7BKO FY2025: $5.3BPEP FY2018: $6.1BPEP FY2019: $5.4BPEP FY2020: $6.4BPEP FY2021: $7BPEP FY2022: $5.6BPEP FY2023: $7.9BPEP FY2024: $7.2BPEP FY2025: $7.7BFY18FY19FY20FY21FY22FY23FY24FY25
KO $5.3BPEP $7.7B

Fiscal years as each company reports them; the two may end in different months.

Questions about Coca Cola and Pepsico

Which is bigger by revenue, Coca Cola or Pepsico?

Pepsico is bigger by revenue: $93.9B in fiscal 2025, against $47.9B for Coca Cola in fiscal 2025.

Which keeps more of its revenue as profit, Coca Cola or Pepsico?

Coca Cola had a net margin of 27.3% in fiscal 2025; Pepsico had 8.8% in fiscal 2025.

Which grew revenue faster, Coca Cola or Pepsico?

In their latest fiscal years revenue changed by +1.9% at Coca Cola and +2.3% at Pepsico.

Where do these numbers come from?

From the annual reports each company files with the SEC (10-K, or 20-F and 40-F for foreign companies), read from their XBRL data. Margins and growth are simple arithmetic on those figures. Nothing here is a recommendation.

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