COCA COLA CO vs PepsiCo, Inc., two Food & Beverage stocks. A side-by-side on valuation, growth, margins, returns, and what each price is betting.
Coke and Pepsi look like twins and price almost like them too, near 26 and 22 times earnings, but the income statements diverge by design. Coca-Cola sells mostly concentrate, so it keeps a 35% operating margin to Pepsi's 17 and a 28% net margin to Pepsi's 9. Pepsi's answer is breadth, snacks and drinks together, which lowers the margin but widens the base and funds the bigger dividend, 3.9% to Coke's 2.5. Pepsi also converts more of its price into free cash, a 4.5% yield to Coke's 3.5. Coke is the purer margin story; Pepsi pays you more to wait.
Comparison updated 2026-06-11.
| Metric | KO | PEP |
|---|---|---|
| Price | $83.48 | $137.38 |
| Market cap | $360.1B | $188.1B |
| Sector | Food & Beverage | Food & Beverage |
| Stage | Mature | Mature |
| Implied growth (priced in) | +8.3% | — |
| P/E | 26.3 | 18.0 |
| P/B | 10.08 | 8.45 |
| P/S | 7.31 | 1.94 |
| EV/EBITDA | 22.5 | 10.5 |
| Revenue growth | +5.2% | +5.8% |
| Gross margin | 63.0% | 54.2% |
| Operating margin | 35.0% | 16.6% |
| Net margin | 27.8% | 10.8% |
| Return on equity | 38.3% | 46.9% |
| Return on assets | 13.2% | 9.3% |
| Return on invested capital | 34.6% | 34.1% |
| FCF yield | 3.5% | 4.9% |
| Dividend yield | 2.4% | 4.1% |
| Debt / equity | 0.01 | 0.48 |
| Current ratio | 1.36 | 0.93 |
| Altman Z (solvency) | 7.81 | 3.14 |
| Piotroski F (quality) | 7 / 9 | 5 / 9 |
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The stronger value is highlighted per metric where one is strictly better on that single number; it is not an overall verdict on either company. For informational and research purposes only. Not investment advice. Not a recommendation to buy, sell, or hold any security. boothcheck is not a registered investment adviser. Past performance does not guarantee future results.