Coca-Cola vs PepsiCo, side by side
The hundred-year cola rivalry hides a real structural difference. Coca-Cola is a focused drinks business - it mostly makes concentrate and brand value, leaving heavy bottling to partners. PepsiCo is half a drinks company and half a snacks company: Frito-Lay (Walkers, Doritos, Lay's) makes a large share of its profit.
On our factor screen it looks strongest on momentum and quality, and weakest on value.
On our factor screen it looks strongest on growth and income, and weakest on momentum.
The numbers, side by side
| Measure |  Coca-Cola |  PepsiCo |
|---|---|---|
| Price | $87.59 | $139.56 |
| Market cap: The company's total value on the stock market - share price times the number of shares. Big = 'large-cap', small = 'small-cap'. | $376.86B | $190.64B |
| P/E: Price-to-earnings: the share price divided by yearly profit per share. Lower can mean cheaper; higher often means investors expect fast growth. | 26.6 | 18.4 |
| Div yield: Dividend yield: the yearly dividend as a percentage of the share price - roughly the income you'd earn just from dividends. | 2.4% | 4.2% |
| Revenue growth | 6.7% | 6.4% |
| 1Y: How much the share price has moved over the past year. | +31% | +2% |
More measures
| Forward P/E: Price-to-earnings: the share price divided by yearly profit per share. Lower can mean cheaper; higher often means investors expect fast growth. | 24.8 | 15.5 |
|---|---|---|
| Net margin | 28.6% | 10.8% |
| ROE | 42.1% | 51.5% |
| Beta: How bumpy the share price is versus the whole market. Above 1 swings more than the market; below 1 is calmer. It's about the ride, not whether it goes up or down. | 0.35 | 0.37 |
The bolder figure is simply the larger of the two - higher is not automatically good (a higher P/E means more expectation in the price; a higher beta means bigger swings).
How they differ
Coca-Cola is roughly 2.0x the size of PepsiCo by market value. On our factor screen Coca-Cola currently screens higher on momentum and quality, while PepsiCo screens higher on value and growth. Coca-Cola trades on the higher P/E (26.6 vs 18.4), so more expectation is already built into its price; and PepsiCo currently yields more (4.2% vs 2.4%). Over the past year the share prices moved +31% (Coca-Cola) vs +2% (PepsiCo).
Descriptive only - how the two compare on today's data, never a verdict on either.
Coca-Cola, in one line
The Coca-Cola Company is a global beverage giant that owns some of the world's most recognisable soft drink brands.
Read the full Coca-Cola explainer →PepsiCo, in one line
PepsiCo is a global giant that fills our cupboards with snacks like Walkers crisps and drinks like Pepsi, Gatorade, and Tropicana.
Read the full PepsiCo explainer →What to weigh
If dividend income matters to you, the yields differ (2.4% Coca-Cola vs 4.2% PepsiCo). These are facts to understand, not a verdict - read each full explainer before deciding anything.
Common questions
Which company is more diversified?
PepsiCo, by design - snacks and drinks respond to slightly different pressures, and food is a large part of its business. Coca-Cola is more concentrated on beverages, which keeps its model simpler and its margins on concentrate high.
Why do income-focused readers look at these two?
Both have paid and grown dividends for decades - they are classic 'dividend aristocrat' names. A long payout record is history, not a promise; the payout depends on future profits.