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PepsiCo vs Coca Cola: PEP and KO compared
PepsiCo is the larger company: $25.3B of revenue in its latest quarter (Q3 2026) against $13.4B for Coca Cola (Q3 2026). Coca Cola is growing faster (+7% against +6% a year earlier). Coca Cola is more profitable, with an operating margin of 33.4% against 16.9%.
Where the money goes: PEP and KO
PepsiCo (PEP) · Q3 2026
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 follows the revenue to costs, profit and cash.
Coca Cola (KO) · Q3 2026
Coca Cola, Q3 2026: revenue $13.4B (+7% year over year), operating margin 33.4%, net earnings $4.0B, operating cash flow $4.9B. The chart follows the revenue to costs, profit and cash.
| PepsiCo (PEP) | Coca Cola (KO) | |
|---|---|---|
| Latest quarter | Q3 2026 | Q3 2026 |
| Revenue | $25.3B | $13.4B |
| Revenue growth, Y/Y | +6% | +7% |
| Gross margin | 54.4% | 63.2% |
| Operating margin | 16.9% | 33.4% |
| Net earnings | $3.1B | $4.0B |
| Net margin | 12.1% | 30.0% |
| Operating cash flow | $5.6B | $4.9B |
| Free cash flow | $4.7B | $4.5B |
| Market value | $195.8B | $412.7B |
| P/E | 17.9× | 28.1× |
| Analysts’ mean target | $141.59 | $97.75 |
Where the revenue comes from
Coca Cola
- Concentrate operations: $8.2B (61%)
- Finished product operations: $5.2B (39%)
Questions
Which is bigger, PepsiCo or Coca Cola?
PepsiCo is the larger company: $25.3B of revenue in its latest quarter (Q3 2026) against $13.4B for Coca Cola (Q3 2026).
Is PepsiCo or Coca Cola growing faster?
Coca Cola is growing faster (+7% against +6% a year earlier).
Which is more profitable, PepsiCo or Coca Cola?
Coca Cola is more profitable, with an operating margin of 33.4% against 16.9%.
More: PepsiCo earnings · how PepsiCo makes money · Coca Cola earnings · how Coca Cola makes money
From the companies' latest 10-Q, 10-K or earnings release (10-Q filed Oct 8, 2026; 10-Q filed Oct 28, 2026). Fiscal quarters can end on different dates. Not investment advice.