PepsiCo (PEP) vs Coca-Cola (KO): Stock Comparison
Data as of November 7, 2026. Refreshed weekly from SEC filings and market data.
PepsiCo is cheaper on earnings, at 17.6 times against 28.2; Coca-Cola keeps the higher net margin (28.6% against 11.1%); revenue growth is about the same (6.4% and 7.1%); PepsiCo pays the higher dividend yield (4.1% against 2.7%). PepsiCo clears 4 of this site's 8 value filters and Coca-Cola 2. Figures are as of November 7, 2026; each is on the page below with its source.
How do PepsiCo and Coca-Cola compare on the numbers?
| Measure | PepsiCo (PEP) | Coca-Cola (KO) | Clearer lead |
|---|---|---|---|
| Share price | $141.34 | $95.67 | |
| Market value | $192 billion | $412 billion | |
| P/E ratio (trailing) | 17.6 | 28.2 | PEP |
| PEG ratio | 4.13 | 3.71 | KO |
| Free-cash-flow yield | 5.7% | 3.5% | PEP |
| Net profit margin | 11.1% | 28.6% | KO |
| Revenue growth, last year | 6.4% | 7.1% | About the same |
| Return on equity | 50.6% | 42.0% | PEP |
| Debt to equity | 2.33 | 1.11 | KO |
| Dividend yield | 4.1% | 2.7% | PEP |
| Margin of safety (DCF) | -3.5% | -68.9% | PEP |
| Value filters passed (of 8) | 4 | 2 | PEP |
| Distance from 52-week high | -17.1% | -0.2% |
How have PepsiCo and Coca-Cola shares done against each other?
PepsiCo 87Coca-Cola 170
Each share price set to 100 on Nov 2021, to Nov 2026. Price only: dividends are not included.
From Nov 2021 to Nov 2026, PepsiCo shares are down 13% and Coca-Cola shares up 70%, so Coca-Cola has pulled ahead of PepsiCo by 83 points of the starting price. The deepest fall from a prior high in that window was 35% for PepsiCo and 19% for Coca-Cola.
| Period | PepsiCo (PEP) | Coca-Cola (KO) |
|---|---|---|
| Last 1 year | -0.2% | +38.5% |
| Last 3 years | -15.2% | +67.9% |
| Last 5 years | -14.9% | +68.3% |
Which has grown faster, PepsiCo or Coca-Cola?
Over 5 years, PepsiCo grew revenue 5.9% a year and earnings per share 3.3% a year; Coca-Cola grew revenue 7.7% and earnings per share 11.2%. Its net margin averaged 9.8% at PepsiCo and 24.2% at Coca-Cola.
| Measure | PepsiCo (PEP) | Coca-Cola (KO) |
|---|---|---|
| Latest fiscal year ended | Dec 2025 | Dec 2025 |
| Revenue, first year to latest | $70.4 billion to $93.9 billion | $33 billion to $47.9 billion |
| Revenue growth per year | 5.9% | 7.7% |
| Earnings per share, first year to latest | $5.11 to $6.00 | $1.79 to $3.04 |
| Earnings per share growth per year | 3.3% | 11.2% |
| Net margin, latest year | 8.8% | 27.3% |
| Net margin, average of the years | 9.8% | 24.2% |
| Free cash flow margin, latest year | 8.2% | 11.0% |
From each company's 10-K filings (SEC EDGAR), over its latest 5 years.
What growth does each share price assume?
| Measure | PepsiCo (PEP) | Coca-Cola (KO) |
|---|---|---|
| Free cash flow growth the price implies | 8.9% a year | 21.4% a year |
| Free cash flow per share | $8.00 | $3.32 |
| Margin of safety on this site's DCF | -3.5% | -68.9% |
At $141.34, PepsiCo's price implies free cash flow growth of 8.9% a year, fading to 2.5% over 10 years. That is more growth than the 8% baseline.
At $95.67, Coca-Cola's price implies free cash flow growth of 21.4% a year, fading to 2.5% over 10 years. That is more growth than the 8% baseline.
The same model and baseline as every stock page. A price that asks for less growth is not a better company, only a lower bar to clear.
Where is each stronger?
Where PepsiCo leads
- Lower P/E: 17.6 against 28.2
- Higher free-cash-flow yield: 5.7% against 3.5%
- Higher return on equity: 50.6% against 42.0%
- Higher dividend yield: 4.1% against 2.7%
- Higher margin of safety on this site's DCF: -3.5% against -68.9%
- More of the 8 value filters: 4 against 2
Where Coca-Cola leads
- Lower PEG: 3.71 against 4.13
- Higher net margin: 28.6% against 11.1%
- Less debt for its equity: 1.11 against 2.33
- Faster revenue growth over its filed record: 7.7% against 5.9%
- Faster earnings-per-share growth over its filed record: 11.2% against 3.3%
- A higher net margin in its latest filed year: 27.3% against 8.8%
- A higher average net margin: 24.2% against 9.8%
- A higher free-cash-flow margin in its latest filed year: 11.0% against 8.2%
About the same on: revenue growth, last year. A lead needs a clear gap (10% apart on a ratio, 1 point on a percentage), so a rounding difference never names a winner. A lead on one measure is not a verdict on the company.
How do the businesses differ?
PepsiCo. PepsiCo makes and sells snacks and beverages worldwide. Snacks and foods account for more than half of its revenue, with Pepsi drinks, Gatorade and other beverages making up the rest.
Coca-Cola. Coca-Cola makes beverage concentrates and syrups and sells them to bottling partners, which produce and distribute the drinks. It earns from the high-margin concentrate rather than from bottling itself.
Both are in the Beverages industry on this site. Both sell soft drinks worldwide, but PepsiCo also owns Frito-Lay and Quaker, so snacks and cereals are a large part of what it sells. Coca-Cola is almost entirely beverages, much of it concentrate sold to bottling partners, which is why the two earn such different margins.
What stands out about PepsiCo
- Misses 2 of the 8 value filters. It fails PEG Ratio < 1.5 (4.13) and Price/Book < 8 (8.63); the other 4 pass and 2 were not evaluated.
- Weakest against peers: debt / equity. At 2.33 (peer median 1.06) it ranks 6th of 6 among beverages stocks this site tracks.
- Insiders have been buying. 4 open-market purchases were reported in SEC Form 4 filings in the last 90 days, about $201.0 million in all.
What stands out about Coca-Cola
- Misses 4 of the 8 value filters. It fails Trailing P/E < 25 (28.15), PEG Ratio < 1.5 (3.71) and Price/Book < 8 (11.02) and 1 more; the other 2 pass and 2 were not evaluated.
- The margin of safety is falling. It went from -52% on Oct 7 to -69% on Nov 7 across 8 weekly readings.
- Close to its 52-week high. At $95.67, KO is within 0.2% of its high of $95.83, 41.6% above its low of $67.54.
Frequently asked questions about PepsiCo and Coca-Cola
Which is cheaper, PepsiCo or Coca-Cola?
On trailing earnings, PepsiCo is cheaper: PepsiCo trades at 17.6 times and Coca-Cola at 28.2 times. On free cash flow, the yields are 5.7% and 3.5%. Cheaper is not the same as better value: read the growth each price assumes below.
Which pays the higher dividend, PepsiCo or Coca-Cola?
PepsiCo pays the higher yield: PepsiCo 4.1% and Coca-Cola 2.7% over the last year.
Which has grown faster, PepsiCo or Coca-Cola?
Over their latest filed five years, PepsiCo grew revenue 5.9% a year and Coca-Cola 7.7%; earnings per share grew 3.3% and 11.2% a year.
Which has more debt, PepsiCo or Coca-Cola?
PepsiCo has more debt for its equity: debt to equity is 2.33 for PepsiCo and 1.11 for Coca-Cola. A very high figure can also come from buybacks that shrank equity.
Which is more profitable, PepsiCo or Coca-Cola?
Coca-Cola keeps more of each sales dollar as profit: 11.1% for PepsiCo and 28.6% for Coca-Cola, with a return on equity of 50.6% and 42.0%.
Which passes more of the 8 value filters?
PepsiCo clears more: PepsiCo 4 of 8 and Coca-Cola 2 of 8. The filters are this site's own value rules, not a prediction.
Where do these numbers come from?
Prices, ratios and yield are from this site's weekly data as of November 7, 2026; growth and margins by year are from each company's 10-K filings (sources on PepsiCo and Coca-Cola). The DCF is the same model on every stock page. See Editorial Standards. Educational, not investment advice.