TTM
14.8%
YoY change
+0.33pp
Trough year (1986)
8.8%
Peak year (2009)
18.6%
Latest annual
14.4%
Operating Margin history chart for PepsiCo (PEP) from 1985 to 2025
Latest: 14.4%
Operating Margin change chart for PepsiCo (PEP) from 1985 to 2025
Latest: +0.33pp
Operating Margin history table for PepsiCo (PEP) from 1985 to 2025
| 2025 | 14.4% | +0.33pp | ||
| 2024 | 14.0% | +0.93pp | ||
| 2023 | 13.1% | -0.22pp | ||
| 2022 | 13.3% | -0.72pp | ||
| 2021 | 14.0% | -0.28pp | ||
| 2020 | 14.3% | -1.00pp | ||
| 2019 | 15.3% | -0.31pp | ||
| 2018 | 15.6% | -0.54pp | ||
| 2017 | 16.2% | +0.56pp | ||
| 2016 | 15.6% | +2.36pp | ||
| 2015 | 13.2% | -1.12pp | ||
| 2014 | 14.4% | -0.24pp | ||
| 2013 | 14.6% | +0.70pp | ||
| 2012 | 13.9% | -0.57pp | ||
| 2011 | 14.5% | +0.08pp | ||
| 2010 | 14.4% | -4.20pp | ||
| 2009 | 18.6% | +2.52pp | ||
| 2008 | 16.1% | -2.07pp | ||
| 2007 | 18.2% | -0.34pp | ||
| 2006 | 18.5% | +0.32pp | ||
| 2005 | 18.2% | +0.21pp | ||
| 2004 | 18.0% | +0.25pp | ||
| 2003 | 17.7% | +0.62pp | ||
| 2002 | 17.1% | +1.64pp | ||
| 2001 | 15.5% | +0.48pp | ||
| 2000 | 15.0% | +1.10pp | ||
| 1999 | 13.9% | +1.03pp | ||
| 1998 | 12.9% | -1.26pp | ||
| 1997 | 14.1% | +1.25pp | ||
| 1996 | 12.9% | -1.15pp | ||
| 1995 | 14.0% | +2.77pp | ||
| 1994 | 11.2% | -0.37pp | ||
| 1993 | 11.6% | -0.39pp | ||
| 1992 | 12.0% | +0.11pp | ||
| 1991 | 11.9% | -0.72pp | ||
| 1990 | 12.6% | +0.91pp | ||
| 1989 | 11.7% | +1.24pp | ||
| 1988 | 10.5% | +0.50pp | ||
| 1987 | 10.0% | +1.12pp | ||
| 1986 | 8.8% | -0.32pp | ||
| 1985 | 9.1% | — |
- 202514.4%+0.33pp
- 202414.0%+0.93pp
- 202313.1%-0.22pp
- 202213.3%-0.72pp
- 202114.0%-0.28pp
- 202014.3%-1.00pp
- 201915.3%-0.31pp
- 201815.6%-0.54pp
- 201716.2%+0.56pp
- 201615.6%+2.36pp
- 201513.2%-1.12pp
- 201414.4%-0.24pp
- 201314.6%+0.70pp
- 201213.9%-0.57pp
- 201114.5%+0.08pp
- 201014.4%-4.20pp
- 200918.6%+2.52pp
- 200816.1%-2.07pp
- 200718.2%-0.34pp
- 200618.5%+0.32pp
- 200518.2%+0.21pp
- 200418.0%+0.25pp
- 200317.7%+0.62pp
- 200217.1%+1.64pp
- 200115.5%+0.48pp
- 200015.0%+1.10pp
- 199913.9%+1.03pp
- 199812.9%-1.26pp
- 199714.1%+1.25pp
- 199612.9%-1.15pp
- 199514.0%+2.77pp
- 199411.2%-0.37pp
- 199311.6%-0.39pp
- 199212.0%+0.11pp
- 199111.9%-0.72pp
- 199012.6%+0.91pp
- 198911.7%+1.24pp
- 198810.5%+0.50pp
- 198710.0%+1.12pp
- 19868.8%-0.32pp
- 19859.1%—
Operating Margin values are taken from PepsiCo's reported income statements (quarterly 10-Q and annual 10-K filings with the U.S. Securities and Exchange Commission). Each row shows the period end date and the filing date. YoY compares each figure to the same period one year earlier. Amounts are in USD as filed.
About Operating Margin at PepsiCo (PEP)
According to PepsiCo's latest reported financial statements, the company's latest reported operating margin is 14.8%. Operating margin is operating income divided by revenue — the share of each sales dollar left after cost of goods sold and operating expenses (SG&A, R&D), but before interest and taxes. It isolates how profitable the core business is before financing and tax decisions, so it is comparable across companies with different capital structures.
Headline figure above is from the reporting period ending (reported ). Chart and table below cover the full reported history back to .
The 2025 reading of PepsiCo (PEP) operating margin is 14.36% – expanded 0.3 percentage points year-over-year.
The record annual operating margin stands at 18.61%, reached in 2009; the historical low of 8.83% was recorded in 1986.
PepsiCo Operating Margin by Year
PepsiCo Operating Margin 2025: 14.4%
PepsiCo operating margin in 2025 was 14.36%, expanded 0.3 percentage points from 2024.
PepsiCo Operating Margin 2024: 14.0%
2024's operating margin for PepsiCo came in at 14.03%, expanded 0.9 percentage points from 2023.
PepsiCo Operating Margin 2023: 13.1%
PepsiCo posted operating margin of 13.10% in 2023, contracted 0.2 percentage points from 2022.
PepsiCo Operating Margin 2022: 13.3%
In 2022, PepsiCo reported operating margin of 13.33%, contracted 0.7 percentage points from 2021.
PepsiCo Operating Margin 2021: 14.0%
PepsiCo operating margin in 2021 was 14.04%.
See more financial history for PepsiCo (PEP).
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