PepsiCo Inc
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+ FollowMarket Cap$194.26B
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Earnings Call Q3 2026
October 8, 2026 - AI Summary
Solid global momentum; international is the bright spot
- Organic revenue +3.1% in Q3 2026 (fastest since Q4 2023); reported revenue >5%.
- Global volume: beverages +3%, snacks +4%, food +1% (noted ex-South Africa grains ~+4%).
- International: organic revenue +8% and operating margin +105 bps—management emphasized this as *broad-based and structural* (Europe, MENA, Asia, LatAm).
- CEO stated international is already ~45% of profit YTD, supporting a sustained growth engine.
North America disappointment remains; execution + beverage underperformance
- Foods NA showed improvement (organic sales improved vs Q2), including a turnaround in snacks volume: after prior weakness (low single-digit negative volume growth last year), this year is low single-digit positive due to price reset + innovation + new platforms.
- Beverages NA: management is “not pleased”. They’re competing well in hydration and energy, but not competing well in soft drinks.
- “Urgency” framing for beverages = raise execution bar (customer negotiations, point-of-sale standards), increase brand investment, and ensure cost focus with resource redeployment toward growth.
Q4 / EPS outlook downgraded mainly due to margin pressure, not sales collapse
- Guidance revision driven by margin performance below expectations: input costs trending higher, mix headwind, and tariff benefit in Q3 beverage NA unwinds (creates underlying pressure going forward).
- Company intends to sustain investments (not cut growth spend) despite pressure:
- A&M increased in both international and North America (explicitly said no resource withdrawal from the business for Q4).
- Management also cited actions to partially mitigate margin pressure:
- Identify structural cost reduction areas
- Use revenue management tools (aiming for benefits to begin helping as the company turns into the calendar year)
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Share Statistics
| Market cap | $194.26 Billion |
|---|---|
| Enterprise Value | $235.47 Billion |
| Annual dividend | $5.80 |
| Dividend yield | 4.23% |
| Earnings per Share | $6.03 |
| Beta | 0.36 |
| Outstanding Shares | 1,364,000,000 |
Return
| Return on Equity | 49.03% |
|---|---|
| Return on Assets | 9.76% |
| Return on Invested Capital | 17.35% |
Valuation & Multiples
| P/E Ratio | 17.23 |
|---|---|
| PEG | 100.8 |
| Price to Sales | 1.98 |
| Price to Book Ratio | 8.9 |
| Enterprise Value to Revenue | 2.4 |
| Enterprise Value to EBIT | 17.52 |
| Enterprise Value to Net Income | 21 |
| Total Debt to Enterprise | 0.22 |
| Debt to Equity | 2.33 |
Revenue Sources
No data
Last Earnings Call
Report Date
October 8, 2026
EPS Estimate
$2.29
Consensus analyst estimateRevenue Estimate
$24.95 B
Consensus analyst estimateNext Earnings Call
Expected Date
February 2, 2027
EPS Estimate
$2.24
Consensus analyst estimateRevenue Estimate
$30.42 B
Consensus analyst estimateInstitutional Put/Call Ratio
Compares institutional put options with call options. At 13.78, the ratio is above 1, so institutions hold more puts than calls. That is a more cautious stance.
| Put/Call Ratio | 13.7752▲ 1319.39% |
|---|---|
| Total Calls | 9,263▼ 99.95% |
| Total Puts | 127,600▼ 98.74% |
Institutional Ownership
Holdings and activity of institutional investors.
| Ownership % | 5.22%▼ 76.53% |
|---|---|
| Total Invested | $9.02B▼ 94.04% |
| Investors Holding | 1,488▼ 2038.00% |
About PepsiCo Inc
267,000 employees
CEO: Ramon Laguarta
PepsiCo products are enjoyed by consumers more than one billion times a day in more than 200 countries and territories around the world. PepsiCo generated more than $67 billion in net revenue in 2019, driven by a complementary food and b...