PepsiCo (PEP): what its SEC filings show

Two years of results through Q3 2026 (Jun 14–Sep 5, 2026), in plain English. Every figure links to the SEC filing it came from.

Built by the Tribune's code from SEC filings. No AI wrote or changed any figure. No ratings or advice. Updated Nov. 3, 2026. Latest report: 10-Q, filed Oct. 8, 2026. Updates automatically when the company files its next report. How this page works

The latest quarter at a glance

Revenue

$25.3B

up 6% from a year earlier

Q3 2025: $23.9B

Net income

$3.0B

up 17% from a year earlier

Q3 2025: $2.6B

Gross margin

54.4%

up 0.8 points from a year earlier

Q3 2025: 53.6%. Calculated by the Tribune

Free cash flow

$4.7B

Q3 2025: $3.5B. Calculated by the Tribune

Shares outstanding

1.36B

unchanged from a year earlier

Q3 2025: 1.37B. More shares means each share owns a smaller slice

Q3 2026 (Jun 14–Sep 5, 2026) compared with Q3 2025.

What changed this quarter

Revenue was $25.3 billion, up 6% from $23.9 billion a year earlier. Source
Net income was $3.0 billion, up 17% from $2.6 billion a year earlier. Source

Two-year trends

Revenue

All the money the company took in from sales, before any costs.

Billions of dollars, as filed.

Net income

What was left after all costs, interest and taxes: the bottom line. Below the line is a loss.

Billions of dollars: net income attributable to the company's shareholders, as filed (GAAP).

Gross margin

How much of each sales dollar is left after the cost of making the product.

Percent of revenue. Calculated by the Tribune: gross profit divided by revenue, as filed.

Free cash flow

Cash brought in by running the business, minus spending on property and equipment. Below the line means the company spent more than it brought in that quarter.

Billions of dollars. Calculated by the Tribune: cash from operations minus payments for property and equipment, both as filed.

Shares outstanding

How many shares exist. When the number rises, each share owns a smaller slice of the company.

Billions of shares on each quarter-end date (or on the report's cover page a few weeks later).

Cash and short-term investments compared with debt

Cash on hand next to what the company owes in loans and bonds.

Cash and short-term investmentsDebt

Billions of dollars at each quarter-end. Debt = short-term plus long-term debt, only when both are filed for that date (calculated by the Tribune). A dash means no data.

Warning-sign checks

Code looks for these filings in the last three years and reports only that a filing exists, never what it means for the stock.

Auditor change

The company changed the accounting firm that checks its books.

None in the last three years

Past results can't be relied on

The company said earlier reported results were wrong and will be corrected.

None in the last three years

Late filing

The company told the SEC a required report would be late.

None in the last three years

Every figure and its filing

Each figure links to the 10-Q or 10-K it came from. "No data" means it wasn't filed in a form the methodology accepts; nothing is estimated.

Figure	Q4 2024Sep 8–Dec 28, 2024	Q1 2025Dec 29, 2024–Mar 22, 2025	Q2 2025Mar 23–Jun 14, 2025	Q3 2025Jun 15–Sep 6, 2025	Q4 2025Oct–Dec 2025	Q1 2026Dec 28, 2025–Mar 21, 2026	Q2 2026Mar 22–Jun 13, 2026	Q3 2026Jun 14–Sep 5, 2026
Revenue	$27.8 billion	$17.9 billion	$22.7 billion	$23.9 billion	$29.3 billion	$19.4 billion	$24.2 billion	$25.3 billion
Net income	$1.5 billion	$1.8 billion	$1.3 billion	$2.6 billion	$2.5 billion	$2.3 billion	$3.0 billion	$3.0 billion
Cash from operations	$6.3 billion	−$973 million	$2.0 billion	$4.5 billion	$6.6 billion	$41 million	$2.3 billion	$5.6 billion
Spending on property and equipment	$2.5 billion	$603 million	$904 million	$992 million	$1.9 billion	$447 million	$819 million	$916 million
Free cash flow (calculated)	$3.8 billion	−$1.6 billion	$1.1 billion	$3.5 billion	$4.7 billion	−$406 million	$1.5 billion	$4.7 billion
Gross margin (calculated)	52.6%	55.8%	54.7%	53.6%	53.2%	55.2%	54.2%	54.4%
Shares outstanding	1.37 billion	1.37 billion	1.37 billion	1.37 billion	1.37 billion	1.37 billion	1.36 billion	1.36 billion
Cash and short-term investments (calculated)	$9.3 billion	$8.6 billion	$8.0 billion	$8.7 billion	$9.5 billion	$10.8 billion	$10.7 billion	$11.2 billion
Debt (calculated)	$44.3 billion	$50.0 billion	$53.9 billion	$54.0 billion	$49.2 billion	$54.3 billion	$54.8 billion	$51.9 billion

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Figures as filed in 10-Q and 10-K reports; the latest filing wins. Single quarters, the fourth quarter (the full year minus the first nine months), free cash flow, margins and changes are calculated by the Tribune. Methodology version 1.2. How this page works · All of PepsiCo's filings on SEC EDGAR