COKE vs. PEP

Last updated Apr 2, 2026

Compare and contrast key facts about Coca-Cola Consolidated, Inc. (COKE) and PepsiCo, Inc. (PEP).

Performance

COKE vs. PEP - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Coca-Cola Consolidated, Inc. (COKE) and PepsiCo, Inc. (PEP). The values are adjusted to include any dividend payments, if applicable.

COKE vs. PEP - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
COKE Coca-Cola Consolidated, Inc.	31.34%	22.63%	38.75%	82.92%	-17.09%	133.24%	-5.87%	60.74%	-17.10%	20.94%
PEP PepsiCo, Inc.	8.72%	-1.85%	-7.60%	-3.29%	6.78%	20.56%	11.67%	27.38%	-4.81%	17.82%

Fundamentals

EPS COKE : $7.04 PEP : $6.00
PE Ratio COKE : 28.54 PEP : 25.76
PEG Ratio COKE : 0.59 PEP : 9.14
PS Ratio COKE : 2.47 PEP : 2.26
Total Revenue (TTM) COKE : $7.07B PEP : $93.93B
Gross Profit (TTM) COKE : $2.82B PEP : $50.86B
EBITDA (TTM) COKE : $968.50M PEP : $14.39B

Returns By Period

In the year-to-date period, COKE achieves a 31.34% return, which is significantly higher than PEP's 8.72% return. Over the past 10 years, COKE has outperformed PEP with an annualized return of 29.48%, while PEP has yielded a comparatively lower 7.27% annualized return.

COKE

• 1D: 4.83%
• 1M: -2.60%
• YTD: 31.34%
• 6M: 69.57%
• 1Y: 45.85%
• 3Y*: 57.23%
• 5Y*: 48.71%
• 10Y*: 29.48%

PEP

• 1D: -0.41%
• 1M: -6.72%
• YTD: 8.72%
• 6M: 10.07%
• 1Y: 7.46%
• 3Y*: -2.09%
• 5Y*: 5.03%
• 10Y*: 7.27%

*Multi-year figures are annualized to reflect compound growth (CAGR)

Return for Risk

COKE vs. PEP — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

COKE

COKE Risk / Return Rank: 76
COKE Sharpe Ratio Rank: 82
COKE Sortino Ratio Rank: 75
COKE Omega Ratio Rank: 76
COKE Calmar Ratio Rank: 76
COKE Martin Ratio Rank: 70

PEP

PEP Risk / Return Rank: 49
PEP Sharpe Ratio Rank: 53
PEP Sortino Ratio Rank: 46
PEP Omega Ratio Rank: 43
PEP Calmar Ratio Rank: 53
PEP Martin Ratio Rank: 52

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

COKE vs. PEP - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Coca-Cola Consolidated, Inc. (COKE) and PepsiCo, Inc. (PEP). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	COKE	PEP	Difference
Sharpe ratio Return per unit of total volatility	1.43	0.33	+1.09
Sortino ratio Return per unit of downside risk	1.87	0.68	+1.19
Omega ratio Gain probability vs. loss probability	1.26	1.08	+0.19
Calmar ratio Return relative to maximum drawdown	1.99	0.48	+1.51
Martin ratio Return relative to average drawdown	3.70	0.98	+2.72
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

COKE vs. PEP - Sharpe Ratio Comparison

The current COKE Sharpe Ratio is 1.43, which is higher than the PEP Sharpe Ratio of 0.33. The chart below compares the historical Sharpe Ratios of COKE and PEP, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	COKE	PEP	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.43	0.33	+1.09
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	1.33	0.28	+1.05
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.80	0.37	+0.43
Sharpe Ratio (All Time) Calculated using the full available price history	0.46	0.39	+0.08

Correlation

The correlation between COKE and PEP is 0.21, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Dividends

COKE vs. PEP - Dividend Comparison

COKE's dividend yield for the trailing twelve months is around 0.50%, less than PEP's 3.68% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
COKE Coca-Cola Consolidated, Inc.	0.50%	0.65%	1.59%	0.54%	0.20%	0.16%	0.38%	0.35%	0.56%	0.46%	0.56%	0.55%
PEP PepsiCo, Inc.	3.68%	3.92%	3.51%	2.91%	2.50%	2.45%	2.71%	2.77%	3.25%	2.64%	2.83%	2.76%

Drawdowns

COKE vs. PEP - Drawdown Comparison

The maximum COKE drawdown since its inception was -54.32%, smaller than the maximum PEP drawdown of -73.92%. Use the drawdown chart below to compare losses from any high point for COKE and PEP.

Drawdown Indicators

	COKE	PEP	Difference
Max Drawdown Largest peak-to-trough decline	-54.32%	-73.92%	+19.60%
Max Drawdown (1Y) Largest decline over 1 year	-25.20%	-15.14%	-10.06%
Max Drawdown (5Y) Largest decline over 5 years	-35.52%	-30.32%	-5.20%
Max Drawdown (10Y) Largest decline over 10 years	-51.71%	-30.32%	-21.39%
Current Drawdown Current decline from peak	-7.33%	-12.75%	+5.42%
Average Drawdown Average peak-to-trough decline	-18.91%	-13.64%	-5.27%
Ulcer Index Depth and duration of drawdowns from previous peaks	13.52%	7.39%	+6.13%

Volatility

COKE vs. PEP - Volatility Comparison

Coca-Cola Consolidated, Inc. (COKE) has a higher volatility of 12.32% compared to PepsiCo, Inc. (PEP) at 5.23%. This indicates that COKE's price experiences larger fluctuations and is considered to be riskier than PEP based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	COKE	PEP	Difference
Volatility (1M) Calculated over the trailing 1-month period	12.32%	5.23%	+7.09%
Volatility (6M) Calculated over the trailing 6-month period	21.60%	14.84%	+6.76%
Volatility (1Y) Calculated over the trailing 1-year period	32.44%	22.46%	+9.98%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	36.76%	18.11%	+18.65%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	36.98%	19.54%	+17.44%

Financials

COKE vs. PEP - Profitability Comparison

The chart below illustrates the profitability comparison between Coca-Cola Consolidated, Inc. and PepsiCo, Inc. over time, highlighting three key metrics: Gross Profit Margin, Operating Margin, and Net Profit Margin.

COKE - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Apr 2026, Coca-Cola Consolidated, Inc. reported a gross profit of 748.52M and revenue of 1.89B. Therefore, the gross margin over that period was 39.6%.

PEP - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Apr 2026, PepsiCo, Inc. reported a gross profit of 15.62B and revenue of 29.34B. Therefore, the gross margin over that period was 53.2%.

COKE - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Apr 2026, Coca-Cola Consolidated, Inc. reported an operating income of 246.63M and revenue of 1.89B, resulting in an operating margin of 13.1%.

PEP - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Apr 2026, PepsiCo, Inc. reported an operating income of 3.56B and revenue of 29.34B, resulting in an operating margin of 12.1%.

COKE - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Apr 2026, Coca-Cola Consolidated, Inc. reported a net income of 142.33M and revenue of 1.89B, resulting in a net margin of 7.5%.

PEP - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Apr 2026, PepsiCo, Inc. reported a net income of 2.54B and revenue of 29.34B, resulting in a net margin of 8.7%.