Operating Income for PepsiCo (PEP)
According to PepsiCo's latest reported financial statements, the company's current operating income (TTM) is $14.12B USD. Operating income is profit from core operations: revenue minus cost of goods sold and operating expenses (SG&A, R&D). It excludes interest, taxes, and non-operating items, so it isolates how profitable the business itself is before financing and tax decisions. Compare with EBITDA and net income.
Headline TTM above sums the four reported quarters through (reported ). Chart and table below cover the full reported history back to .
PEP
Currently viewingOperating IncomeSwitch metric
TTM (last 4 quarters)
$14.12B
YoY change
+4.7%
5Y CAGR
+6.0%
Peak year (2025)
$13.49B
Cumulative operating income
$256.46B
Operating Income history chart for PepsiCo (PEP) from 1985 to 2025
Operating Income history table for PepsiCo (PEP) from 1985 to 2025
| Fiscal year | Period ended | Reported | Operating Income | YoY |
|---|---|---|---|---|
| 2025 | $13.49B | +4.7% | ||
| 2024 | $12.89B | +7.5% | ||
| 2023 | $11.99B | +4.1% | ||
| 2022 | $11.51B | +3.1% | ||
| 2021 | $11.16B | +10.7% | ||
| 2020 | $10.08B | -2.1% | ||
| 2019 | $10.29B | +1.8% | ||
| 2018 | $10.11B | -1.6% | ||
| 2017 | $10.28B | +4.8% | ||
| 2016 | $9.80B | +17.4% | ||
| 2015 | $8.35B | -12.8% | ||
| 2014 | $9.58B | -1.3% | ||
| 2013 | $9.71B | +6.5% | ||
| 2012 | $9.11B | -5.4% | ||
| 2011 | $9.63B | +15.6% | ||
| 2010 | $8.33B | +3.6% | ||
| 2009 | $8.04B | +15.6% | ||
| 2008 | $6.96B | -2.9% | ||
| 2007 | $7.17B | +10.3% | ||
| 2006 | $6.50B | +9.8% | ||
| 2005 | $5.92B | +12.6% | ||
| 2004 | $5.26B | +10.0% | ||
| 2003 | $4.78B | +11.3% | ||
| 2002 | $4.29B | +18.1% | ||
| 2001 | $3.64B | -4.8% | ||
| 2000 | $3.82B | +9.6% | ||
| 1999 | $3.48B | +21.3% | ||
| 1998 | $2.87B | -2.7% | ||
| 1997 | $2.95B | +12.8% | ||
| 1996 | $2.62B | -2.1% | ||
| 1995 | $2.67B | -16.5% | ||
| 1994 | $3.20B | +10.1% | ||
| 1993 | $2.91B | +10.2% | ||
| 1992 | $2.64B | +13.1% | ||
| 1991 | $2.33B | +3.9% | ||
| 1990 | $2.24B | +25.9% | ||
| 1989 | $1.78B | +31.1% | ||
| 1988 | $1.36B | +19.0% | ||
| 1987 | $1.14B | +39.3% | ||
| 1986 | $820.60M | +11.3% | ||
| 1985 | $737.10M | — |
Operating Income values are taken from PepsiCo's reported income statements (10-Q quarterly and 10-K annual filings with the U.S. Securities and Exchange Commission). Each row shows the period end date and the date the filing was reported; YoY compares each figure to the same period one year earlier. Amounts are in USD as filed.
Analysis
2025's annual operating income for PepsiCo (PEP) came in at $13.49B – edged up 4.7% year-over-year.
Looking at the 2020–2025 (5 years) stretch, PepsiCo operating income compounded at +6.0% per year, sustaining 5 straight years of year-over-year growth.
Across the available history, operating income reached its high of $13.49B in 2025 and its low of $737.10M in 1985.
PepsiCo (PEP) sits 6th of 8 Consumer Defensive peers we track on this metric, against a peer median of $14.35B.
PepsiCo Operating Income by Year
PepsiCo Operating Income 2025: $13.49B
PepsiCo operating income in 2025 was $13.49B, edged up 4.7% from 2024. This figure represents the highest annual value in the available history.
PepsiCo Operating Income 2024: $12.89B
PepsiCo operating income in 2024 was $12.89B, grew 7.5% from 2023.
PepsiCo Operating Income 2023: $11.99B
PepsiCo operating income in 2023 was $11.99B, edged up 4.1% from 2022.
PepsiCo Operating Income 2022: $11.51B
PepsiCo operating income in 2022 was $11.51B, edged up 3.1% from 2021.
PepsiCo Operating Income 2021: $11.16B
PepsiCo operating income in 2021 was $11.16B.
See more financial history for PepsiCo (PEP).
Sector peers — Operating Income
Companies in the same sector as PepsiCo, ranked by their latest operating income.
| Company | Operating Income | Sector |
|---|---|---|
| Walmart Inc. (WMT) | $29.82B | Consumer Defensive |
| The Procter & Gamble Company (PG) | $20.45B | Consumer Defensive |
| Altria Group, Inc. (MO) | $15.06B | Consumer Defensive |
| Philip Morris International Inc. (PM) | $14.93B | Consumer Defensive |
| The Coca-Cola Company (KO) | $13.76B | Consumer Defensive |
| Costco Wholesale Corporation (COST) | $10.38B | Consumer Defensive |
| Mondelez International, Inc. (MDLZ) | $3.62B | Consumer Defensive |
| Monster Beverage Corporation (MNST) | $2.42B | Consumer Defensive |
Frequently asked questions
What is PepsiCo's operating income?
- Latest reported operating income for PepsiCo (PEP) is $14.12B (period ending March 21, 2026).
How has PepsiCo operating income changed year-over-year?
- PepsiCo (PEP) operating income changed +4.7% year-over-year on the latest annual filing.
What is the long-term growth rate of PepsiCo operating income?
- PepsiCo (PEP) operating income compound annual growth rate is +6.0% over the most recent 5 years available.
When did PepsiCo operating income hit its highest annual value?
- PepsiCo operating income reached its highest annual value of $13.49B in 2025.
What was PepsiCo operating income in 2024?
- PepsiCo (PEP) operating income in 2024 was $12.89B.
What was PepsiCo operating income in 2025?
- PepsiCo (PEP) operating income in 2025 was $13.49B.
Metrics overview
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