PepsiCo (PEP) Stock Price vs Operating Income
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PepsiCo's Operating Income for Q1 2026 (reported 2026-03-21) reached $3.2B, up 24% from $2.6B in Q1 2025 (reported 2025-03-22). Over the same period, the stock price moved modestly higher from $145.45 to $150.04, a 3.2% gain. Despite the substantial earnings growth, the stock's more modest appreciation indicates valuation compression relative to Operating Income. From June 2024 through June 2026, the stock declined from $171.23 to $141.37 while Operating Income remained in the $1.8B to $4.0B range, reflecting a broader contraction in the earnings multiple investors are willing to pay.
Trailing-12-month Operating Income was $10.0B as of 2020-09-05, -0.7% year over year. The stock moved +1.0% over the same window ($137.37 -> $138.76). Price and Operating Income moved almost in lockstep.
Latest close: 141.31 USD (2026-06-02).
Operating Income | recent SEC reports
| Report date | Operating Income | Period |
|---|
| 2020-09-05 | 10.0B USD | Q3 10-Q |
| 2020-06-13 | 9.8B USD | Q2 10-Q |
| 2020-03-21 | 10.2B USD | Q1 10-Q |
| 2019-12-28 | 10.3B USD | FY 10-K |
| 2019-09-07 | 10.0B USD | Q3 10-Q |
| 2019-06-15 | 10.0B USD | Q2 10-Q |
| 2019-03-23 | 10.3B USD | Q1 10-Q |
| 2018-12-29 | 10.1B USD | FY 10-K |
Sources: autario.com/data/stock-pep-pepsico-daily-prices · autario.com/data/pepsico-operating-income-sec-filings | data verified and hosted on autario.com.