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PepsiCo (PEP) Q4 2025 earnings results (fourth quarter 2025)
10-K filed Feb 3, 2026
PepsiCo (PEP) reported revenue of $29.3B for the fourth quarter 2025 (Q4 2025), +6% from a year earlier. Operating margin was 12.1%, net earnings $2.6B (8.7% of revenue).
PepsiCo, Q4 2025: revenue $29.3B (+6% year over year), operating margin 12.1%, net earnings $2.6B. The chart follows the revenue to costs, profit and cash.
| Q4 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $29.3B | — | +6% |
| Gross profit | $15.6B | — | +7% |
| Operating profit | $3.6B | — | +58% |
| Net earnings | $2.6B | — | +67% |
What changed
Revenue was $29.3B in Q4 2025, up 6% year over year.
Gross margin was 53.2%, up 0.7 points from Q4 2024. Operating profit was $3.6B, a 12.1% margin (up 4.0 points year over year). Of the extra revenue versus Q4 2024, 84% reached operating profit, above the 8% margin then. Operating expenses fell 2% while revenue rose 6%. Net earnings were $2.5B, up 67% year over year. The effective tax rate was 14.8%.
Questions
What was PepsiCo's revenue in the fourth quarter 2025?
PepsiCo (PEP) reported revenue of $29.3B for the fourth quarter 2025 (Q4 2025), +6% from a year earlier.
Was PepsiCo profitable in the fourth quarter 2025?
Operating profit was $3.6B (12.1% of revenue) and net earnings $2.6B.
Source: PepsiCo 10-K on SEC EDGAR.