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Pepsico vs Primo Brands: revenue, profit, margins and growth compared

Pepsico brought in $93.9B of revenue in fiscal 2025, Primo Brands $6.7B in fiscal 2025. Revenue changed by +2.3% at Pepsico and +29.3% at Primo Brands on the year before, so Primo Brands grew faster. Pepsico kept 8.8% of its revenue as net profit, Primo Brands 0.9%. Free cash flow was $7.7B at Pepsico and $302.9M at Primo Brands.

Side by side, latest fiscal year

PEPPRMB
Fiscal year endedFY2025 (December 27, 2025)FY2025 (December 31, 2025)
Revenue$93.9B$6.7B
Revenue growth+2.3%+29.3%
Net income$8.2B$60.1M
Net margin8.8%0.9%
Free cash flow$7.7B$302.9M
Free cash flow margin8.2%4.5%
Earnings per share (diluted)$6.00$0.16
Cash$9.2B$376.7M
Debt$46.4B$5.1B
Price to earnings21.4121.9
Market value$175.6B$7.1B
Dividend yield4.37%2.05%
Rank by revenue in sector#3 of 93 · Consumer staples#33 of 93 · Consumer staples

Over the years

Revenue
PEP FY2018: $64.7BPEP FY2019: $67.2BPEP FY2020: $70.4BPEP FY2021: $79.5BPEP FY2022: $86.4BPEP FY2023: $91.5BPEP FY2024: $91.9BPEP FY2025: $93.9BPRMB FY2022: $4.4BPRMB FY2024: $4.7BPRMB FY2024: $5.2BPRMB FY2025: $6.7BFY18FY19FY20FY21FY22FY23FY24FY25
PEP $93.9BPRMB $6.7B
Net income
PEP FY2018: $12.5BPEP FY2019: $7.3BPEP FY2020: $7.1BPEP FY2021: $7.6BPEP FY2022: $8.9BPEP FY2023: $9.1BPEP FY2024: $9.6BPEP FY2025: $8.2BPRMB FY2022: -$126.7MPRMB FY2024: $92.8MPRMB FY2024: -$16.4MPRMB FY2025: $60.1MFY18FY19FY20FY21FY22FY23FY24FY25
PEP $8.2BPRMB $60.1M
Net margin
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%PRMB FY2022: -2.9%PRMB FY2024: 2.0%PRMB FY2024: -0.3%PRMB FY2025: 0.9%FY18FY19FY20FY21FY22FY23FY24FY25
PEP 8.8%PRMB 0.9%
Revenue growth
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%PRMB FY2024: +5.8%PRMB FY2024: +9.7%PRMB FY2025: +29.3%FY19FY20FY21FY22FY23FY24FY25
PEP +2.3%PRMB +29.3%
Free cash flow
PEP FY2018: $6.1BPEP FY2019: $5.4BPEP FY2020: $6.4BPEP FY2021: $7BPEP FY2022: $5.6BPEP FY2023: $7.9BPEP FY2024: $7.2BPEP FY2025: $7.7BPRMB FY2022: -$150.2MPRMB FY2024: $117.3MPRMB FY2024: $313.6MPRMB FY2025: $302.9MFY18FY19FY20FY21FY22FY23FY24FY25
PEP $7.7BPRMB $302.9M

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

Questions about Pepsico and Primo Brands

Which is bigger by revenue, Pepsico or Primo Brands?

Pepsico is bigger by revenue: $93.9B in fiscal 2025, against $6.7B for Primo Brands in fiscal 2025.

Which keeps more of its revenue as profit, Pepsico or Primo Brands?

Pepsico had a net margin of 8.8% in fiscal 2025; Primo Brands had 0.9% in fiscal 2025.

Which grew revenue faster, Pepsico or Primo Brands?

In their latest fiscal years revenue changed by +2.3% at Pepsico and +29.3% at Primo Brands.

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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