Berkshire Hathaway Inc. vs PepsiCo, Inc.: Strategic Comparison
Key Differences at a Glance
| Field | Berkshire Hathaway Inc. | PepsiCo, Inc. |
|---|---|---|
| Revenue | $371.4B | $93.9B |
| Founded | 1839 | 1965 |
| Employees | 387,800 | 306,000 |
| Market Cap | $1.05T | $205.0B |
| Headquarters | United States | United States |
Quick Stats Comparison
| Metric | Berkshire Hathaway Inc. | PepsiCo, Inc. |
|---|---|---|
| Revenue | $371.4B | $93.9B |
| Founded | 1839 | 1965 |
| Headquarters | Omaha, Nebraska | Purchase, New York |
| Market Cap | $1.05T | $205.0B |
| Employees | 387,800 | 306,000 |
Berkshire Hathaway Inc. Revenue vs PepsiCo, Inc. Revenue — Year by Year
| Year | Berkshire Hathaway Inc. | PepsiCo, Inc. | Leader |
|---|---|---|---|
| 2025 | $371.4B | $93.9B | Berkshire Hathaway Inc. |
| 2024 | $371.4B | $91.9B | Berkshire Hathaway Inc. |
| 2023 | $364.5B | $91.5B | Berkshire Hathaway Inc. |
| 2022 | N/A | $86.4B | PepsiCo, Inc. |
| 2021 | N/A | $79.5B | PepsiCo, Inc. |
Business Model Breakdown
Overview: Berkshire Hathaway Inc. vs PepsiCo, Inc.
This in-depth comparison examines Berkshire Hathaway Inc. and PepsiCo, Inc. across revenue, market value, business model, competitive positioning, and long-term growth strategy. Whether you are researching Berkshire Hathaway Inc. on its own, evaluating PepsiCo, Inc., or weighing the two companies side by side, the breakdown below highlights where each company leads and where the gap between Berkshire Hathaway Inc. and PepsiCo, Inc. is widest.
On the headline numbers, Berkshire Hathaway Inc. reports annual revenue of $371.4B against $93.9B for PepsiCo, Inc., while their respective market capitalizations stand at $1.05T and $205.0B. Berkshire Hathaway Inc. is headquartered in United States and PepsiCo, Inc. operates from United States, and those different home markets shape how each company competes.
Berkshire Hathaway Inc.: Berkshire began as a textile company and became a holding company after Warren Buffett gained control in 1965. The modern company is a collection of operating businesses and investments bound by decentralized management, conservative financing, and a long-term shareholder culture.
PepsiCo, Inc.: PepsiCo is often framed through the cola wars, but the Frito-Lay system is the real structural engine. The 1965 merger created a company that could negotiate with retailers using both snacks and beverages, turning distribution breadth into an economic moat.
Business Models: How Berkshire Hathaway Inc. and PepsiCo, Inc. Make Money
Berkshire Hathaway Inc. and PepsiCo, Inc. pursue distinct approaches to generating revenue, and understanding how each company operates is the foundation of any fair comparison between Berkshire Hathaway Inc. and PepsiCo, Inc..
Berkshire Hathaway Inc. business model: Berkshire makes money through insurance underwriting and float investment, freight rail, regulated utilities and energy infrastructure, industrial manufacturing, wholesale distribution, retail, services, and a large portfolio of equity and fixed-income investments.
PepsiCo, Inc. business model: PepsiCo makes money from convenient foods, beverages, concentrates, foodservice, licensing, and international packaged-food operations. The company sells finished products through company-owned and third-party distribution, and it benefits from direct-store-delivery strength in snacks and beverages.
Competitive Advantage: Berkshire Hathaway Inc. vs PepsiCo, Inc.
The durability of a company's moat often decides long-term winners. Here is how the competitive advantages of Berkshire Hathaway Inc. stack up against those of PepsiCo, Inc..
Berkshire Hathaway Inc. competitive advantage: Berkshire's advantage is permanent capital, insurance float, a conservative balance sheet, reputation with sellers, and a decentralized culture that attracts owner-minded managers.
PepsiCo, Inc. competitive advantage: PepsiCo advantage comes from the combination of Frito-Lay scale, beverage brands, global distribution, direct-store delivery, product breadth, retailer relationships, and marketing investment.
Growth Strategy: Where Berkshire Hathaway Inc. and PepsiCo, Inc. Are Headed
Future prospects matter as much as current results. The growth strategies below explain how Berkshire Hathaway Inc. and PepsiCo, Inc. each plan to expand from here.
Berkshire Hathaway Inc. growth strategy: Berkshire's growth strategy is not a top-down operating plan; it is disciplined capital allocation. The company reinvests in subsidiaries, buys public equities, acquires private businesses when prices fit, and keeps a fortress balance sheet for downturns.
PepsiCo, Inc. growth strategy: PepsiCo strategy centers on international growth, productivity, brand restages, zero-sugar beverages, functional hydration, convenient foods, and portfolio renovation. Steve Schmitt became CFO effective November 10, 2025, adding new finance leadership for the next phase of cost discipline.
Financial Picture: Berkshire Hathaway Inc. vs PepsiCo, Inc.
A closer look at the financial trajectory of Berkshire Hathaway Inc. and PepsiCo, Inc. rounds out the comparison.
Berkshire Hathaway Inc.: For FY2025, Berkshire reported $371.444B in revenue and $66.968B in net income attributable to shareholders. Its filing reported about 387,800 employees worldwide at year-end. The updated net income replaces the prior-year comparison figure previously used in this profile.
PepsiCo, Inc.: PepsiCo reported $93.925 billion of FY2025 net revenue, up from $91.854 billion in FY2024 and $91.471 billion in FY2023. FY2025 net income attributable to PepsiCo was $8.240 billion. PepsiCo employed approximately 306,000 people worldwide as of December 27, 2025.
Company-Specific SWOT Notes
Berkshire Hathaway Inc.
Berkshire's advantage is permanent capital, insurance float, a conservative balance sheet, reputation with sellers, and a decentralized culture that attracts owner-minded managers.
Berkshire's size makes high-return capital deployment harder, and results can swing with insurance losses and investment-market changes.
Large cash and Treasury holdings give Berkshire optionality if markets dislocate or attractive private businesses become available.
Berkshire Hathaway's biggest risk is the challenge of deploying very large amounts of capital at attractive returns while managing insurance catastrophe exposure, equity-market volatility, and succession execution.
PepsiCo, Inc.
PepsiCo combines Frito-Lay snack leadership, beverage brands, retailer relationships, and global distribution.
Pricing-led growth can pressure volumes, while sugar, sodium, and processed-food scrutiny challenge legacy categories.
Zero-sugar beverages, hydration, permissible indulgence, international foods, and premium snack brands can refresh the portfolio.
Retailers can push private labels and demand price concessions, especially when consumers are under affordability pressure.
Head-to-Head Scorecard
| Category | Winner | Why |
|---|---|---|
| Revenue Scale | Berkshire Hathaway Inc. | Berkshire Hathaway Inc. reports the larger revenue base ($371.4B), which serves as a core operational scale signal. |
| Profitability Potential | Comparable | Both organizations prioritize market penetration or are at equivalent reporting tiers. |
| Company Age | Berkshire Hathaway Inc. | Founded in 1839 vs 1965. The earlier pioneer typically commands longer historical institutional legacy. |
| Innovation Moat | PepsiCo, Inc. | Higher aggregate count of major acquisitions and key R&D releases indicates a more active technology absorption velocity. |
| Scale (Employees) | Berkshire Hathaway Inc. | A significantly larger reported workforce supports enhanced global distribution capability. |
| Market Cap | Berkshire Hathaway Inc. | Higher public valuation denotes greater forward-looking investor conviction in earnings potential. |
| Future Outlook | Tied | Strategic auditing assesses that both maintain defensive leadership vectors within their core market clusters. |
Who Wins Each Category?
Berkshire Hathaway Inc. reports the larger revenue base ($371.4B), which serves as a core operational scale signal.
Both organizations prioritize market penetration or are at equivalent reporting tiers.
Founded in 1839 vs 1965. The earlier pioneer typically commands longer historical institutional legacy.
Higher aggregate count of major acquisitions and key R&D releases indicates a more active technology absorption velocity.
A significantly larger reported workforce supports enhanced global distribution capability.
Who Wins: Berkshire Hathaway Inc. or PepsiCo, Inc.?
Reviewed by Swet Parvadiya, May 2026 - Author Profile
Our analysts compile business strategy profiles from public financial filings, press releases, and analyst reports. Each profile is reviewed for accuracy before publication by our editorial desk and updated on a rolling basis.
Frequently Asked Questions: Berkshire Hathaway Inc. vs PepsiCo, Inc.
Is Berkshire Hathaway Inc. better than PepsiCo, Inc.?
Verdict: Between Berkshire Hathaway Inc. and PepsiCo, Inc., Berkshire Hathaway Inc. is the stronger overall option based on higher annual revenue. The decision still depends on which factors matter most for your needs, but on the weight of the evidence above, Berkshire Hathaway Inc. comes out ahead in this Berkshire Hathaway Inc. vs PepsiCo, Inc. comparison.
Who earns more — Berkshire Hathaway Inc. or PepsiCo, Inc.?
Berkshire Hathaway Inc. earns more with $371.4B in annual revenue versus PepsiCo, Inc.'s $93.9B. Berkshire Hathaway Inc. leads on total revenue based on latest verified figures.
Which company has higher revenue — Berkshire Hathaway Inc. or PepsiCo, Inc.?
Berkshire Hathaway Inc. reported $371.4B, while PepsiCo, Inc. reported $93.9B. The revenue leader is Berkshire Hathaway Inc. based on latest verified figures.
Berkshire Hathaway Inc. revenue vs PepsiCo, Inc. revenue — which is higher?
Berkshire Hathaway Inc. revenue: $371.4B. PepsiCo, Inc. revenue: $93.9B. Berkshire Hathaway Inc. has the larger revenue base of the two companies.
Sources & References
- SEC EDGAR: Berkshire Hathaway Inc. Annual Filings (10-K, 8-K)
- Berkshire Hathaway Inc. Corporate Website
- Berkshire Hathaway Inc. Annual Report 2025 - Revenue and Financial Data
- berkshirehathaway.com
- sec.gov
- data.sec.gov
- berkshirehathaway.com
- SEC EDGAR: PepsiCo, Inc. Annual Filings (10-K, 8-K)
- PepsiCo, Inc. Corporate Website
- PepsiCo, Inc. Annual Report 2025 - Revenue and Financial Data
- sec.gov
- investors.pepsico.com
- pepsico.com