KO vs PEP
Coca Cola Co. and PepsiCo Inc., side by side — 10 fiscal years reported in USD, drawn from SEC filings.
Most recent reported year
| Metric | KO | PEP |
|---|---|---|
| Revenue | $47.9B | $93.9B |
| Net income | $13.1B | $8.2B |
| Gross margin | 61.6% | 54.1% |
| Net margin | 27.4% | 8.8% |
| Return on equity | 46.0% | 42.9% |
| Diluted EPS | $3.04 | $6.00 |
| Dividend / share | $2.04 | $5.62 |
| Payout ratio | 67.0% | 92.7% |
| Free cash flow | $5.3B | $7.7B |
| Equity | $32.2B | $20.4B |
| Net debt / equity | 0.99× | 1.96× |
| Current ratio | 1.46× | 0.85× |
| Revenue CAGR 5y | 7.7% | 5.9% |
| Profit CAGR 5y | 11.1% | 3.0% |
PEP bills 2.0× the revenue of KO, and KO keeps more of each dollar of revenue as profit (27.4% against 8.8%).
The stronger figure of the pair is set in bold. That is arithmetic, not a recommendation — this page does not pick a winner. "·" marks a figure not available in our data.
10 years side by side
| Fiscal year | KO | PEP |
|---|---|---|
| FY2025 | $47.9B | $93.9B |
| FY2024 | $47.1B | $91.9B |
| FY2023 | $45.8B | $91.5B |
| FY2022 | $43.0B | $86.4B |
| FY2021 | $38.7B | $79.5B |
| FY2020 | $33.0B | $70.4B |
| FY2019 | $37.3B | $67.2B |
| FY2018 | $34.3B | $64.7B |
| FY2017 | $36.2B | $63.5B |
| FY2016 | $41.9B | $62.8B |
Bottom line
| Fiscal year | KO | PEP |
|---|---|---|
| FY2025 | $13.1B | $8.2B |
| FY2024 | $10.6B | $9.6B |
| FY2023 | $10.7B | $9.1B |
| FY2022 | $9.5B | $8.9B |
| FY2021 | $9.8B | $7.6B |
| FY2020 | $7.7B | $7.1B |
| FY2019 | $8.9B | $7.3B |
| FY2018 | $6.4B | $12.5B |
| FY2017 | $1.2B | $4.9B |
| FY2016 | $6.5B | $6.3B |
19 fiscal years
| Fiscal year | Difference | Ahead |
|---|---|---|
| FY2025 | −$45,984,000,000 | PEP |
| FY2024 | −$44,793,000,000 | PEP |
| FY2023 | −$45,717,000,000 | PEP |
| FY2022 | −$43,388,000,000 | PEP |
| FY2021 | −$40,819,000,000 | PEP |
| FY2020 | −$37,358,000,000 | PEP |
| FY2019 | −$29,895,000,000 | PEP |
| FY2018 | −$30,361,000,000 | PEP |
| FY2017 | −$27,313,000,000 | PEP |
| FY2016 | −$20,936,000,000 | PEP |
| FY2015 | −$18,762,000,000 | PEP |
| FY2014 | −$20,685,000,000 | PEP |
| FY2013 | −$19,561,000,000 | PEP |
| FY2012 | −$17,475,000,000 | PEP |
| FY2011 | −$19,962,000,000 | PEP |
| FY2010 | −$22,719,000,000 | PEP |
| FY2009 | −$12,242,000,000 | PEP |
| FY2008 | −$11,307,000,000 | PEP |
| FY2007 | −$10,617,000,000 | PEP |
PEP has reported the higher revenue in every one of these 19 fiscal years. The gap has widened since the earliest year compared.
19 of 19 comparable fiscal years — a year missing data on either side is not counted.
19 fiscal years
| Fiscal year | Difference | Ahead |
|---|---|---|
| FY2025 | +18.6 pp | KO |
| FY2024 | +12.1 pp | KO |
| FY2023 | +13.4 pp | KO |
| FY2022 | +11.9 pp | KO |
| FY2021 | +15.7 pp | KO |
| FY2020 | +13.3 pp | KO |
| FY2019 | +13.2 pp | KO |
| FY2018 | −0.5 pp | PEP |
| FY2017 | −4.2 pp | PEP |
| FY2016 | +5.5 pp | KO |
| FY2015 | +7.9 pp | KO |
| FY2014 | +5.7 pp | KO |
| FY2013 | +8.2 pp | KO |
| FY2012 | +9.4 pp | KO |
| FY2011 | +8.9 pp | KO |
| FY2010 | +22.7 pp | KO |
| FY2009 | +8.5 pp | KO |
| FY2008 | +6.4 pp | KO |
| FY2007 | +6.5 pp | KO |
The higher net margin has changed hands between KO and PEP over this period.
19 of 19 comparable fiscal years — a year missing data on either side is not counted.
Standard deviation, each side
KO's net margin has been more volatile than PEP's over the 19 comparable fiscal years — 5.9 percentage points of standard deviation against 2.5.
19 of 19 comparable fiscal years — a year missing data on either side is not counted.
Year by year
The lead in net margin changed hands between KO and PEP over these 19 fiscal years — KO led in 17 and PEP in 2.
19 of 19 comparable fiscal years — a year missing data on either side is not counted.
Standard deviation, each side
PEP's return on equity has been more volatile than KO's over the 17 comparable fiscal years — 15.9 percentage points of standard deviation against 10.9.
17 of 19 comparable fiscal years — a year missing data on either side is not counted.
Year by year
The lead in return on equity changed hands between KO and PEP over these 17 fiscal years — KO led in 2 and PEP in 15.
17 of 19 comparable fiscal years — a year missing data on either side is not counted.