PEP
PepsiCo, Inc.Evidence as of 2026-10-08The desk's Snapshot
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Overview · PepsiCo, Inc.
PepsiCo, Inc. manufactures, markets, distributes, and sells various beverages and convenient foods worldwide. The company operates through seven segments: Frito-Lay North America; Quaker Foods North America; PepsiCo Beverages North America; Latin America; Europe; Africa, Middle East and South Asia; and Asia Pacific, Australia and New Zealand and China Region. It provides dips, cheese-flavored snacks, and spreads, as…
Management team
- Mr. David J. Flavell · Executive VP, General Counsel & Corporate SecretaryFind on LinkedIn
- Mr. Steven C. Williams · Chief Executive Officer of North AmericaFind on LinkedIn
- Mr. Silviu Yeugeniu Popovici · Chief Executive Officer of EMEAFind on LinkedIn
- Ms. Rebecca Schmitt · Executive VP, Chief Human Resources Officer & Chief People OfficerFind on LinkedIn
Start free to see the full management team.
Links open LinkedIn searches, not verified profiles. Team data from our market-data vendor's company profile.
Moneyta sentiment
Where the published evidence leans after the desk debated it, not a rating or a recommendation.
−0.5 on a −2 to +2 scale.
What builds the score
Solid bars are analyst rubric scores; faded bars are computed directly from data. Claims dropped in debate count for nothing; weakened claims count at half weight.
Editor's note
Written after the debate settled. The rest of the page is the evidence behind it.
Revenues rose from $ 19,443,000,000 in fiscal Q1 2026 (fiscal quarter ended 2026-04-09) to $ 24,181,000,000 in fiscal Q2 2026 (fiscal quarter ended 2026-07-02), an increase of $ 4,738,000,000 quarter‑over‑quarter. Gross profit moved from $ 10,775,000,000 in fiscal Q1 2026 to $ 13,111,000,000 in fiscal Q2 2026, implying gross margin compressed modestly from about 55.4% to about 54.2% (≈ 1.2 percentage points).
Operating income increased from $ 3,213,000,000 in fiscal Q1 2026 to $ 4,023,000,000 in fiscal Q2 2026 while operating margin remained roughly stable at about 16.5% versus 16.6%. Diluted EPS rose from $ 1.70 to $ 2.18 and reported net income increased from $ 2,327,000,000 to $ 2,981,000,000; trailing twelve‑month free cash flow was negative $ 5,311,000,000 and net cash from operations for the trailing twelve months was negative $ 2,365,000,000. Market and ownership data survived the review: P/E about 18.47, EV/EBITDA about 13.44, dividend yield TTM 4.69%, meaningful institutional holdings ($ 146.15B on 13F) but recent quarter‑over‑quarter reductions, and short‑/medium‑term price momentum and moving‑average signals that are negative.
How this note was made
every stage ran before the note was writtenAnalyst desk
Mercer, Oakes, Nash, Ellis, Yates, Talbot and Archer. The desk: named AI agents, not people. Each reads one slice of the evidence and nothing else (no outside knowledge, no browsing), so every finding traces to a source you can open.
Reads the XBRL figures companies file with the SEC (revenue, margins, income, debt and share count, quarter by quarter) and reports which way the trend is running.
Revenues rose from $19,443,000,000 in fiscal Q1 2026 (2025-12-28 to 2026-03-21, 3mo) to $24,181,000,000 in fiscal Q2 2026 (2026-03-22 to 2026-06-13, 3mo), an increase of $4,738,000,000 quarter-over-quarter.
XBRL companyfacts · 0000077476-26-000017Gross profit was $10,775,000,000 in fiscal Q1 2026 and $13,111,000,000 in fiscal Q2 2026, which implies gross margin moved from about 55.4% (10,775 / 19,443) in fiscal Q1 2026 to about 54.2% (13,111 / 24,181) in fiscal Q2 2026 (a small gross-margin compression by ~1.2 percentage points).
XBRL companyfacts · 0000077476-26-000017Reads the filings themselves, above all the year-over-year diff of Item 1A risk factors: which risks a company added, dropped or quietly reworded since its last annual report.
Which filings the desk reads
The desk reads the annual 10-K in full: its risk factors, and how they changed since last year. Quarterly 10-Qs and event filings (8-Ks, insider Form 4s) are listed for context but not read line by line: the 10-K is where the material risk disclosures live. A brand-new company, or one we have only just begun tracking, may have no annual report on file yet; its risk analysis fills in once that lands.
The 10-K filed 3 February 2026 adds explicit language linking changes in consumer diet to the increasing use of weight-loss drugs (such as GLP-1 medications) as a factor that can affect demand for the company's products.
Item 1A risk-factor diff · 0000077476-26-000007 vs 0000077476-25-000007The 10-K filed 3 February 2026 expands the retail-channel risk to call out continued growth in e-commerce channels and hard discounters and warns the business could be adversely affected if the company is unable to maintain relationships with e-commerce retailers and hard discounters while also maintaining traditional retail customers.
Item 1A risk-factor diff · 0000077476-26-000007 vs 0000077476-25-000007Reads the signal panel above (momentum, volatility, drawdown, relative strength and beta) and ranks each against the whole research universe rather than judging it in isolation.
As of 2026-10-07, short- and medium-term price momentum are negative: momentum_3m is -10.2% and momentum_6m is -20.1%, with the 6-month momentum ranked at the 11th percentile of the 866-stock research universe.
Moneyta signal set · 2026-10-07Price relative to moving averages shows the stock trading below both smoothed levels as of 2026-10-07: price_vs_sma50 is -9.1% and price_vs_sma200 is -15.6%, and golden_cross is false.
Moneyta signal set · 2026-10-07Reads which funds hold the name and at what weight, plus insider Form 4 filings, to show the exposure you may already carry through index funds.
13F-reported institutional holdings totaled "$146.15B" as of 2026-06-30, with reported aggregate value down 10.0% quarter-over-quarter and the 13F holder count at 3,418 (holder_count_delta_qoq: -150).
13F holdings · 3418 filers · as of 2026-06-30Top institutional holders reported on the 13F for the period ended 2026-06-30 include BlackRock, Inc. at "$16.02B" (value_qoq_pct: -11.0), VANGUARD CAPITAL MANAGEMENT LLC at "$12.09B" (value_qoq_pct: -12.4), and STATE STREET CORP at "$8.18B" (value_qoq_pct: -11.4).
13F holdings · 3418 filers · as of 2026-06-30Reads recent headlines that are genuinely about this company, ignoring rating chatter and market-wide stories. Findings argue in the debate but never move the sentiment score.
Multiple outlets report PepsiCo has cut its earnings outlook and is taking cost-cutting steps after citing margin pressures in its North America business.
News · finance.yahoo.com · 2026-10-08An Anadolu report states PepsiCo lowered its 2026 core earnings growth forecast to 2.5%–3.5% while noting higher quarterly revenue.
News · aa.com.tr · 2026-10-08Reads parsed Forms 3/4/5: who bought or sold, at what size, and whether a 10b5-1 plan was involved. Flags clustered open-market officer buying; treats plan sales as routine and never counts a fund or 10%-holder as an officer.
An insider sale of 2,900 shares for $405k was reported by Flavell David (EVP, Gen Counsel & Corp Sec) on 27 July 2026.
Form 4 · Flavell David (EVP, Gen Counsel & Corp Sec) · $405k sold · 2026-07-27Multiple filings show acquisitions (action code A) by non-executive directors with modest dollar amounts reported on 1 June 2026: Gibbs David W reported "$10k" (70.66 shares).
Form 4 · Gibbs David W (Director) · $10k code A · 2026-06-01Reads the implied-expectations math built from the company's own filings (the growth rate today's price would justify, and the multiples beside it) and argues whether the market's bar looks high or low for this business. Never turns the math into a target.
The company’s trailing twelve-month free cash flow (FCF) was negative $5,311,000,000, and FCF per share was negative $3.8795 for the trailing twelve months.
Valuation inputs · SEC XBRL + stored EOD closeNet cash provided by (used in) operating activities for the trailing twelve months was negative $2,365,000,000.
Valuation inputs · SEC XBRL + stored EOD closeDebate and risk review
A bull and a bear contest the claims and the chair rules on each; the risk review stress-tests what survived.
A bull and a bear argue the analysts' claims across two rounds, then a chair rules on each one. Only what survives feeds the score. The argument is shown, not hidden, so you can judge the reasoning yourself.
Several company-specific operating metrics point to a favorable read: quarter-over-quarter revenue and earnings per share rose materially between fiscal Q1 and Q2 2026, operating income improved while operating margin remained roughly stable, and the firm shows continued capital returns through modest share repurchases and a declining share count. Trailing twelve-month operating income and EBITDA are sizable, and the company maintains a meaningful cash balance alongside high dividend yield and substantive ETF index inclusion, which are supportive markers of corporate cash-generation capacity and investor interest. These operational and shareholder-return signals counterbalance headline risk-language in filings and mixed press coverage, which largely reflect broad industry exposures and updated disclosure rather than direct evidence of deteriorating core profitability. Evidence strength: the quarter-over-quarter results, margins, EPS, share-count trend, repurchases, EBITDA and dividend data are direct company-reported or calculated items and therefore strong; market momentum and negative FCF assertions rely on shorter-term price moves or aggregated cash-flow timing and are weaker when juxtaposed with persistent operating profitability and balance-sheet cash.
Chair's verdict, claim by claim
Fragility · computed, not argued
balanced0.32
40 surviving claims rest on 19 distinct sources; the heaviest analyst carries 18% of them, and 100% of what the desk raised survived the debate.
The surviving set rests on a moderate breadth of sources but a non-trivial share of claims are concentrated: one analyst produces a meaningful slice of the claims and the desk's 100% survival rate suggests little pruning occurred during debate. That combination reduces the independent corroboration behind some conclusions, so treat narrative weight as informative but somewhat fragile — particularly where a small number of sources or analysts underpin economically important points.
Peer context · computed, not argued
12-1 momentum ranks 3rd of 3 in Beverages—Non-Alcoholic (as of 2026-10-07).
90-day volatility ranks 2nd of 3 in Beverages—Non-Alcoholic (as of 2026-10-07).
dividend yield ranks 1st of 3 in Beverages—Non-Alcoholic (as of 2026-10-07).
Disconfirming evidence · base rates · falsifiers
Context
Outside consensus, and where this name already sits in your own portfolio.
Third-party consensus shown for context. It never enters Moneyta sentiment. When the two diverge, the debate above is where the why lives.
What this was built from
Every figure on this page traces to one of these. The desk reads only what is listed here (no outside knowledge, no browsing), and each card shows who read it and what it contributed to the score.
11 filings· 2 cited
SEC XBRL filings
Quarterly figures as filed with the SEC, read straight from EDGAR's structured data, not retyped or estimated.
Read by Mercer+0.7 to the score
13 documents· 2 cited
SEC filing documents
The filings themselves, including the year-over-year comparison of Item 1A risk factors.
Read by Oakes−0.8 to the score
1 signal set
Moneyta signal set
Computed from our own end-of-day price history and ranked against the whole research universe. No AI involved.
Read by Nash−0.3 to the score
3 holdings records· 1 cited
Fund holdings
Which funds hold this name and at what weight, plus insider Form 4 filings.
Read by Ellis−0.2 to the score
8 headlines· 2 cited
News coverage
Recent headlines about this company, rating chatter excluded and nothing published after the report date.
Read by Yatesnothing survived
9 filings· 2 cited
Insider filings
Parsed Forms 3/4/5 from EDGAR: named insiders, share counts, prices, and 10b5-1 plan state, with stated and inferred flags kept apart.
Read by Talbot−0.2 to the score
1 computation
Valuation inputs
TTM cash-flow figures from the company's own XBRL filings, priced with the stored closing price. Implied growth and multiples only; no fair-value dollar figure reaches the desk, by design.
Read by Archercontext only
1 record· 0 cited
Company profile
Sector, industry and company details.
1 record· 0 cited
Analyst consensus
Third-party consensus, shown for context only; it never enters Moneyta sentiment.
Read means we pulled and handed it to an analyst; cited means a claim on this page points at it. Reading twelve quarters to state one trend is normal; the gap is shown rather than hidden.
Written by AI, checked against sources
The analysts, the bull–bear debate and the editor's note are AI agents reading only the evidence listed on this page. They can misread a filing or a headline, which is why every claim cites a source you can open and check yourself. The sentiment score is arithmetic over the claims that survived the debate, not a language model's opinion.
Educational analysis of published data. Moneyta does not give investment advice or make recommendations. Past patterns do not indicate future results.
The full terminal on PEP Gold
Who holds it, who's buying, what the Street thinks: live behind the lock, updated as filings land.
Institutional holders
Net institutional flow, Q/Q
Largest holder position
Insider buys, 90 days
Clustered insider value
Street target range
The real figures are for members. Educational analysis, not advice.
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