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

Pepsico brought in $93.9B of revenue in fiscal 2025, Constellation Brands $9.8B in fiscal 2026. Revenue changed by +2.3% at Pepsico and -11.0% at Constellation Brands on the year before, so Pepsico grew faster. Pepsico kept 8.8% of its revenue as net profit, Constellation Brands 17.3%. Free cash flow was $7.7B at Pepsico and $1.8B at Constellation Brands.

Side by side, latest fiscal year

PEPSTZ
Fiscal year endedFY2025 (December 27, 2025)FY2026 (February 28, 2026)
Revenue$93.9B$9.8B
Revenue growth+2.3%-11.0%
Net income$8.2B$1.7B
Net margin8.8%17.3%
Free cash flow$7.7B$1.8B
Free cash flow margin8.2%18.4%
Earnings per share (diluted)$6.00n/a
Cash$9.2B$102.4M
Debt$46.4B$10.3B
Price to earnings21.4n/a
Market value$175.6B$19.4B
Dividend yield4.37%n/a
Rank by revenue in sector#3 of 93 · Consumer staples#22 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: $93.9BSTZ FY2018: $8.9BSTZ FY2020: $9.1BSTZ FY2021: $9.4BSTZ FY2022: $9.5BSTZ FY2023: $10.2BSTZ FY2024: $10.7BSTZ FY2025: $11BSTZ FY2026: $9.8BFY18FY19FY20FY21FY22FY23FY24FY25FY26
PEP $93.9BSTZ $9.8B
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: $8.2BSTZ FY2018: $3.4BSTZ FY2020: -$11.8MSTZ FY2021: $2BSTZ FY2022: -$40.4MSTZ FY2023: -$71MSTZ FY2024: $1.7BSTZ FY2025: -$81.4MSTZ FY2026: $1.7BFY18FY19FY20FY21FY22FY23FY24FY25FY26
PEP $8.2BSTZ $1.7B
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%STZ FY2018: 38.7%STZ FY2020: -0.1%STZ FY2021: 21.4%STZ FY2022: -0.4%STZ FY2023: -0.7%STZ FY2024: 16.1%STZ FY2025: -0.7%STZ FY2026: 17.3%FY18FY19FY20FY21FY22FY23FY24FY25FY26
PEP 8.8%STZ 17.3%
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%STZ FY2020: +2.6%STZ FY2021: +2.7%STZ FY2022: +1.9%STZ FY2023: +6.8%STZ FY2024: +5.2%STZ FY2025: +2.3%STZ FY2026: -11.0%FY19FY20FY21FY22FY23FY24FY25FY26
PEP +2.3%STZ -11.0%
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: $7.7BSTZ FY2018: $1.4BSTZ FY2020: $1.8BSTZ FY2021: $1.9BSTZ FY2022: $1.7BSTZ FY2023: $1.7BSTZ FY2024: $1.5BSTZ FY2025: $1.9BSTZ FY2026: $1.8BFY18FY19FY20FY21FY22FY23FY24FY25FY26
PEP $7.7BSTZ $1.8B

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

Questions about Pepsico and Constellation Brands

Which is bigger by revenue, Pepsico or Constellation Brands?

Pepsico is bigger by revenue: $93.9B in fiscal 2025, against $9.8B for Constellation Brands in fiscal 2026.

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

Pepsico had a net margin of 8.8% in fiscal 2025; Constellation Brands had 17.3% in fiscal 2026.

Which grew revenue faster, Pepsico or Constellation Brands?

In their latest fiscal years revenue changed by +2.3% at Pepsico and -11.0% at Constellation 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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