PEPPepsiCo
We were incorporated in Delaware in 1919 and reincorporated in North Carolina in 1986. 10-K, Item 1
- Employees
- 306,000
- Headquarters
- Purchase, NY
- CEO
- Ramon Laguarta
- Next results
- around Feb 2, 2027
The biggest changes in the 10-K filed 2026-02-03, this fiscal year against the last, and the sentences in the MD&A (Item 7) where management explains them, quoted word for word. Tickdelta picks sentences that name the line, a direction and a cause. It does not write explanations of its own.
Operating margin
14.0% → 12.2% (-1.8 pts) Big change FY to 2025-12-27 vs 2024-12-28“Operating profit decreased 11%, primarily driven by certain operating cost increases, impairment charges related to the Rockstar brand, a decline in organic volume, a 5-percentage-point impact of higher commodity costs and higher acquisition and divestiture-related charges.”
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“Operating profit decreased 7%, primarily reflecting certain operating cost increases, including strategic initiatives, higher restructuring charges and the decrease in organic volume.”
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Net income
-14.0% Big change FY to 2025-12-27 vs 2024-12-28“Growth in core net income attributable to PepsiCo per common share – diluted, on a constant currency basis, non-GAAP measure —%”
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Gross margin
54.6% → 54.1% (-0.4 pts) FY to 2025-12-27 vs 2024-12-28“Cost of sales, gross profit, selling, general and administrative expenses, impairment of intangible assets, other pension and retiree medical benefits expense/income, provision for income taxes and net income attributable to PepsiCo, each adjusted for items affecting comparability, operating profit and net income attributable to PepsiCo per common share – diluted, each adjusted for items affecting comparability, and the corresponding constant currency growth rates”
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Cash from operations
-3.4% FY to 2025-12-27 vs 2024-12-28“The decrease in operating cash flow primarily reflects increased cash payments for restructuring charges and cash payments for acquisition and divestiture-related charges.”
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Revenue
+2.3% FY to 2025-12-27 vs 2024-12-28“Net revenue increased 1.5%, primarily driven by effective net pricing, partially offset by an organic volume decline.”
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“Net revenue increased 2%, primarily reflecting effective net pricing.”
Read it in the 10-K ↗
Changes are computed from the XBRL figures in the same 10-K. Hover a number to see the line item. Open the 10-K ↗
Work on PEP in a spreadsheet:
Excel workbook (a sheet per section, ten years by column, charts, links to the filings) ·
CSV.
For a Google Sheet that stays up to date, paste =IMPORTDATA("https://tickdelta.com/company/PEP/export.csv") into a cell.