Hyundai vs PepsiCo: Revenue, Profit and Business Model
Hyundai reported ~$132.2B of revenue in FY2025 and ~$6.7B of net income. PepsiCo reported $93.9B of revenue in FY2025 and $8.2B of net income.
Latest financial snapshot
Financial summary
Hyundai
Hyundai's revenue has grown every year since 2020, from ~$83.5 billion (KRW 117.6 trillion) in 2021 to ~$132 billion (KRW 186.25 trillion) in 2025. Profit peaked in 2023 and 2024, when operating profit topped ~$9.94 billion (KRW 14 trillion) on a rich SUV mix and a weak won. In 2025 operating profit fell 19.5% to ~$8.14 billion (KRW 11.47 trillion) and net profit fell 21.7% to ~$7.36 billion (KRW 10.36 trillion), mostly because of U.S. tariffs. Q2 2026 revenue was a record ~$34.9 billion (KRW 49.22 trillion), up 1.9%, but operating profit dropped 20.8% to ~$2.02 billion (KRW 2.85 trillion), leaving H1 2026 operating profit at ~$3.81 billion (KRW 5.37 trillion) against ~$5.14 billion (KRW 7.24 trillion) a year earlier. The company paid a total 2025 dividend of KRW 10,000 per share, and its 2026 guidance calls for 1-2% revenue growth and a 6.3-7.3% operating margin, which its CFO said in July it may miss on volume.
PepsiCo
PepsiCo grew net revenue from $62.8 billion in 2016 to $93.9 billion in 2025, but growth slowed to 0.4% in 2024 and 2.3% in 2025 (1.7% organic) as North American snack volumes declined. Fiscal 2025 net income was $8.24 billion, down 14%, reflecting a roughly $2 billion impairment mainly on Rockstar. In 2026 the picture improved on the top line: Q1 net revenue rose 8.5% and Q2 rose 6.4% to $24.18 billion, helped by acquisitions, currency and international volume. Q2 2026 net income was $2.98 billion versus $1.26 billion a year earlier. For full-year 2026 PepsiCo guided to 2-4% organic revenue growth and 4-6% core constant-currency EPS growth.
Revenue and profit by year
Hyundai
| Year | Revenue | Net income | Margin | Growth | Source |
|---|---|---|---|---|---|
| FY2025 | ~$132.2B | ~$6.7B | 5.1% | +6.3% | Source |
| FY2024 | ~$124.4B | ~$8.9B | 7.1% | +7.7% | Source |
| FY2023 | ~$115.5B | ~$8.5B | 7.4% | +14.4% | Source |
| FY2022 | ~$100.9B | ~$5.2B | 5.2% | +20.9% | Source |
| FY2021 | ~$83.5B | ~$3.5B | 4.2% | — | Source |
PepsiCo
| Year | Revenue | Net income | Margin | Growth | Source |
|---|---|---|---|---|---|
| FY2025 | $93.9B | $8.2B | 8.8% | +2.3% | Source |
| FY2024 | $91.9B | $9.6B | 10.4% | +0.4% | Source |
| FY2023 | $91.5B | $9.1B | 9.9% | +5.9% | Source |
| FY2022 | $86.4B | $8.9B | 10.3% | +8.7% | Source |
| FY2021 | $79.5B | $7.6B | 9.6% | +12.9% | Source |
| FY2020 | $70.4B | $7.1B | 10.1% | +4.8% | Source |
| FY2019 | $67.2B | $7.3B | 10.9% | +3.9% | Source |
| FY2018 | $64.7B | $12.5B | 19.4% | +1.8% | Source |
| FY2017 | $63.5B | $4.9B | 7.6% | +1.2% | Source |
| FY2016 | $62.8B | $6.3B | 10.1% | — | Source |
Where the revenue comes from
Hyundai
- SUVs and Passenger Vehicles
Core revenue engine
Tucson, Santa Fe, Palisade, Sonata, Elantra, and other global models generate volume, dealer traffic, and cash flow across major regions.
- Hybrids and Electrified Vehicles
Growth and transition
Hybrid, plug-in hybrid, battery-electric, and fuel-cell vehicles support Hyundai's transition while giving buyers powertrain choice during uneven EV adoption.
- Genesis Luxury
Premium margin contributor
Genesis sedans and SUVs lift brand perception and average transaction prices while competing with Lexus, Mercedes-Benz, BMW, and Audi.
- Parts, Services, and Mobility
Recurring and adjacent
After-sales service, parts, connected services, fleet offerings, robotics, and future mobility investments extend Hyundai beyond one-time vehicle sales.
PepsiCo
- PepsiCo Foods North America (Frito-Lay and Quaker)~30%
Savory snacks, oats, bars and dips sold to US and Canadian retailers and foodservice; about $27.7 billion combined in 2024.
- PepsiCo Beverages North America~30%
Finished drinks, fountain syrup and concentrate, including Pepsi, Mountain Dew, Gatorade and partner brands; about $27.8 billion in 2024.
- International (Latin America, Europe, AMESA, Asia Pacific)~40%
Locally made snacks such as Sabritas, Walkers and Kurkure plus beverage concentrate sold to franchise bottlers and company-run beverage operations.
Business model and strategy
Hyundai
How it makes money
Hyundai earns most of its revenue from wholesale vehicle sales to dealers and distributors across North America, Korea, Europe, India and emerging markets. Three layers sit on top of that core: the Genesis luxury brand, which lifts average transaction prices; a finance division (Hyundai Capital and Hyundai Capital America) that earns interest and lease income on vehicle loans; and after-sales parts and service.
Growth strategy
Hyundai's growth strategy rests on four moves: localising production in the United States, India and other big markets to avoid tariffs; expanding hybrids across its range while keeping EV investment flexible; pushing Genesis higher in luxury; and building software, autonomous driving and robotics. In the U.S.
Competitive advantage
Hyundai's edge is breadth plus speed. It can offer gasoline, hybrid, plug-in, battery-electric and hydrogen versions of key models, which matters as EV demand stalls in some markets and hybrids take more than a quarter of its U.S. sales.
PepsiCo
How it makes money
PepsiCo makes money by manufacturing and selling branded snacks, packaged foods and beverages to retailers, foodservice operators and independent bottlers. It reports through regional segments: PepsiCo Foods North America (Frito-Lay and Quaker, combined in 2025), PepsiCo Beverages North America (PBNA), Latin America, Europe, Africa/Middle East/South Asia (AMESA) and Asia Pacific.
Growth strategy
PepsiCo's current growth strategy has four parts: affordability (price cuts of up to 15% on Lay's, Tostitos, Doritos and Cheetos in February 2026), portfolio shift toward better-for-you and functional brands through acquisitions such as Siete (2025), poppi ($1.95 billion, closed May 2025) and Sabra, cost reduction (three US plant closures, SKU rationalization and a review of North American supply chain and go-to-mark…
Competitive advantage
PepsiCo's advantage is scale in savory snacks combined with a large beverage business and a direct-store-delivery network. Frito-Lay brands such as Lay's, Doritos and Cheetos lead the US salty snack aisle, and DSD lets PepsiCo control merchandising and restocking in grocery, mass and convenience stores.
Questions about Hyundai vs PepsiCo
Which company has higher revenue — Hyundai Motor Company or PepsiCo, Inc.?
Hyundai Motor Company reported ~$132.2B (FY2025), while PepsiCo, Inc. reported $93.9B (FY2025). By last reported revenue, Hyundai Motor Company is the larger business, with PepsiCo, Inc. reporting a smaller revenue base.
What is the market cap of Hyundai Motor Company vs PepsiCo, Inc.?
Hyundai Motor Company's market capitalisation stands at $52.0B, while PepsiCo, Inc.'s is $175.0B. PepsiCo, Inc. carries the higher market valuation, reflecting investors' expectations of its future earnings power relative to Hyundai Motor Company.
Which is more financially efficient — Hyundai Motor Company or PepsiCo, Inc.?
Hyundai Motor Company generates $1.08M / employee in revenue per employee, while PepsiCo, Inc. generates $307k / employee. Hyundai Motor Company shows higher revenue efficiency per headcount, though this reflects business model differences — capital-light software companies routinely outperform labour-intensive manufacturers on this metric.
How do Hyundai Motor Company and PepsiCo, Inc. make money?
Hyundai Motor Company and PepsiCo, Inc. generate revenue in fundamentally different ways. Hyundai Motor Company: Hyundai earns most of its revenue from wholesale vehicle sales to dealers and distributors across North America, Korea, Europe, India and emerging markets. PepsiCo, Inc.: PepsiCo makes money by manufacturing and selling branded snacks, packaged foods and beverages to retailers, foodservice operators and independent bottlers.
Which company is valued higher relative to revenue — Hyundai Motor Company or PepsiCo, Inc.?
On a price-to-sales (P/S) basis, Hyundai Motor Company trades at 0.4x P/S and PepsiCo, Inc. at 1.9x P/S. PepsiCo, Inc. commands a higher revenue multiple, typically indicating that investors expect faster growth or higher future margins compared to Hyundai Motor Company. A higher multiple is not inherently better — it may also signal that the stock is priced for perfection.
Is Hyundai Motor Company bigger than PepsiCo, Inc.?
By last reported revenue, Hyundai Motor Company (~$132.2B (FY2025)) is the larger company compared to PepsiCo, Inc. ($93.9B (FY2025)). Revenue scale is one dimension of size — market capitalisation, employee count, and geographic reach are also relevant depending on the context.
Figures come from each company's filings and the sources linked beside them. Amounts reported in another currency are shown in US dollars at an approximate rate and marked with ~. Back to the Hyundai vs PepsiCo overview