KO vs. PEP

Last updated Apr 2, 2026

Compare and contrast key facts about The Coca-Cola Company (KO) and PepsiCo, Inc. (PEP).

Performance

KO vs. PEP - Performance Comparison

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

KO vs. PEP - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
KO The Coca-Cola Company	9.57%	15.60%	8.88%	-4.43%	10.61%	11.37%	2.47%	20.60%	6.77%	14.38%
PEP PepsiCo, Inc.	8.72%	-1.85%	-7.60%	-3.29%	6.78%	20.56%	11.67%	27.38%	-4.81%	17.82%

Fundamentals

Market Cap KO : $328.13B PEP : $212.03B
EPS KO : $3.04 PEP : $6.00
PE Ratio KO : 25.04 PEP : 25.76
PEG Ratio KO : 3.02 PEP : 9.14
PS Ratio KO : 6.85 PEP : 2.26
PB Ratio KO : 10.20 PEP : 10.39
Total Revenue (TTM) KO : $47.94B PEP : $93.93B
Gross Profit (TTM) KO : $29.54B PEP : $50.86B
EBITDA (TTM) KO : $18.18B PEP : $14.39B

Returns By Period

In the year-to-date period, KO achieves a 9.57% return, which is significantly higher than PEP's 8.72% return. Over the past 10 years, KO has outperformed PEP with an annualized return of 8.31%, while PEP has yielded a comparatively lower 7.27% annualized return.

KO

• 1D: 0.04%
• 1M: -4.51%
• YTD: 9.57%
• 6M: 15.52%
• 1Y: 8.93%
• 3Y*: 10.28%
• 5Y*: 10.95%
• 10Y*: 8.31%

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

KO vs. PEP — Risk / Return Rank

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

KO

KO Risk / Return Rank: 56
KO Sharpe Ratio Rank: 59
KO Sortino Ratio Rank: 52
KO Omega Ratio Rank: 49
KO Calmar Ratio Rank: 62
KO Martin Ratio Rank: 59

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.

KO vs. PEP - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for The Coca-Cola Company (KO) 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.

	KO	PEP	Difference
Sharpe ratio Return per unit of total volatility	0.54	0.33	+0.21
Sortino ratio Return per unit of downside risk	0.91	0.68	+0.23
Omega ratio Gain probability vs. loss probability	1.10	1.08	+0.03
Calmar ratio Return relative to maximum drawdown	0.95	0.48	+0.47
Martin ratio Return relative to average drawdown	1.92	0.98	+0.94
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

KO vs. PEP - Sharpe Ratio Comparison

The current KO Sharpe Ratio is 0.54, which is higher than the PEP Sharpe Ratio of 0.33. The chart below compares the historical Sharpe Ratios of KO 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

	KO	PEP	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.54	0.33	+0.21
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.70	0.28	+0.42
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.46	0.37	+0.09
Sharpe Ratio (All Time) Calculated using the full available price history	0.53	0.39	+0.14

Correlation

The correlation between KO and PEP is 0.51, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

KO vs. PEP - Dividend Comparison

KO's dividend yield for the trailing twelve months is around 2.71%, less than PEP's 3.68% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
KO The Coca-Cola Company	2.71%	2.92%	3.12%	3.12%	2.77%	2.84%	2.99%	2.89%	3.29%	3.23%	3.38%	3.07%
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

KO vs. PEP - Drawdown Comparison

The maximum KO drawdown since its inception was -68.23%, smaller than the maximum PEP drawdown of -73.92%. Use the drawdown chart below to compare losses from any high point for KO and PEP.

Drawdown Indicators

	KO	PEP	Difference
Max Drawdown Largest peak-to-trough decline	-68.23%	-73.92%	+5.69%
Max Drawdown (1Y) Largest decline over 1 year	-9.82%	-15.14%	+5.32%
Max Drawdown (5Y) Largest decline over 5 years	-17.27%	-30.32%	+13.05%
Max Drawdown (10Y) Largest decline over 10 years	-36.99%	-30.32%	-6.67%
Current Drawdown Current decline from peak	-6.08%	-12.75%	+6.67%
Average Drawdown Average peak-to-trough decline	-16.13%	-13.64%	-2.49%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.84%	7.39%	-2.55%

Volatility

KO vs. PEP - Volatility Comparison

The current volatility for The Coca-Cola Company (KO) is 4.04%, while PepsiCo, Inc. (PEP) has a volatility of 5.23%. This indicates that KO experiences smaller price fluctuations and is considered to be less risky than PEP based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	KO	PEP	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.04%	5.23%	-1.19%
Volatility (6M) Calculated over the trailing 6-month period	11.82%	14.84%	-3.02%
Volatility (1Y) Calculated over the trailing 1-year period	16.62%	22.46%	-5.84%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.76%	18.11%	-2.35%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.14%	19.54%	-1.40%

Financials

KO vs. PEP - Profitability Comparison

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

KO - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Apr 2026, The Coca-Cola Company reported a gross profit of 7.10B and revenue of 11.82B. Therefore, the gross margin over that period was 60.1%.

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%.

KO - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Apr 2026, The Coca-Cola Company reported an operating income of 3.11B and revenue of 11.82B, resulting in an operating margin of 26.3%.

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%.

KO - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Apr 2026, The Coca-Cola Company reported a net income of 2.27B and revenue of 11.82B, resulting in a net margin of 19.2%.

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%.