Filing Flows › PepsiCo (PEP) › Q3 2026 › vs Q3 2025
PepsiCo (PEP) Q3 2026 vs Q3 2025 (year over year)
PepsiCo's revenue rose $1.3B (+6%) from $23.9B in Q3 2025 to $25.3B in Q3 2026. Gross margin 54.4% against 53.6% (+0.8 pts).
PepsiCo, Q3 2026: revenue $25.3B (+6% year over year), operating margin 16.9%, net earnings $3.1B, operating cash flow $5.6B. The chart draws each line against Q3 2025, the increases inside each band.
Margins
| Q3 2026 | Q3 2025 | Change | |
|---|---|---|---|
| Gross margin | 54.4% | 53.6% | +0.8 pts |
| Operating margin | 16.9% | 14.9% | +1.9 pts |
| Net margin | 12.1% | 10.9% | +1.2 pts |
| Free cash flow margin | 18.5% | 14.5% | +3.9 pts |
Every line
| Line | Q3 2026 | Q3 2025 | Change | % |
|---|---|---|---|---|
| Revenue | $25.3B | $23.9B | $1.3B | +6% |
| Gross profit | $13.8B | $12.8B | $930M | +7% |
| Cost of revenue | $11.5B | $11.1B | $407M | +4% |
| Operating profit | $4.3B | $3.6B | $691M | +19% |
| Operating expenses | $9.5B | $9.3B | $239M | +3% |
| Pre-tax earnings | $3.9B | $3.3B | $573M | +17% |
| Other expense, net | $356M | $238M | $118M | +50% |
| Net earnings | $3.1B | $2.6B | $452M | +17% |
| Income tax | $834M | $713M | $121M | +17% |
| Depreciation & amortization | $892M | $824M | $68.0M | +8% |
| Share-based compensation | $78.0M | $76.0M | $2.0M | +3% |
| Working capital & other | $1.5B | $954M | $591M | +62% |
| Operating cash flow | $5.6B | $4.5B | $1.1B | +25% |
| Free cash flow (OCF − capex) | $4.7B | $3.5B | $1.2B | +34% |
| Capital expenditures | $916M | $992M | −$76.0M | -8% |
Questions
How much did PepsiCo's revenue grow year over year in Q3 2026?
PepsiCo's revenue rose $1.3B (+6%) from $23.9B in Q3 2025 to $25.3B in Q3 2026. Gross margin 54.4% against 53.6% (+0.8 pts).