PepsiCo vs Post Holdings: Revenue, Profit and Business Model
PepsiCo reported $93.9B of revenue in FY2025 and $8.2B of net income. Post Holdings reported $6.2B of revenue in FY2026 and $242.1M of net income.
Latest financial snapshot
PepsiCo
- Latest revenue
- $93.9B (FY2025)
- Net income
- $8.2B
- Net margin
- 8.8%
- Revenue growth
- +4.6% a year, FY2016–FY2025
Post Holdings
- Latest revenue
- $6.2B (FY2026)
- Net income
- $242.1M
- Net margin
- 3.9%
- Revenue growth
- +2.1% a year, FY2016–FY2026
Financial summary
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.
Post Holdings
Post Holdings grew net sales from $4.71 billion in fiscal 2020 to $8.158 billion in fiscal 2025, mostly through acquisitions such as the Smucker pet food brands (2023), Perfection Pet Foods (2023), Potato Products of Idaho (March 2025) and 8th Avenue Food & Provisions (July 2025). Fiscal 2025 net earnings were $335.7 million. For the nine months to June 30, 2026, net sales rose to $6.166 billion and Adjusted EBITDA to $1.191 billion, while net earnings fell 15% to $242.1 million on higher interest costs. Post does not pay a dividend and repurchased 9.1 million shares for $908.8 million in the first nine months of fiscal 2026. Management narrowed fiscal 2026 Adjusted EBITDA guidance to $1.56-$1.57 billion.
Revenue and profit by year
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 |
Post Holdings
| Year | Revenue | Net income | Margin | Growth | Source |
|---|---|---|---|---|---|
| FY2026 | $6.2B | $242.1M | 3.9% | -24.4% | Source |
| FY2025 | $8.2B | $335.7M | 4.1% | +3.0% | Source |
| FY2024 | $7.9B | $366.7M | 4.6% | +13.3% | Source |
| FY2023 | $7B | $301.3M | 4.3% | +19.5% | Source |
| FY2022 | $5.9B | $756.6M | 12.9% | +17.5% | Source |
| FY2021 | $5B | $166.7M | 3.3% | +5.7% | Source |
| FY2020 | $4.7B | $800,000 | 0.0% | -17.1% | Source |
| FY2019 | $5.7B | $124.7M | 2.2% | -9.2% | Source |
| FY2018 | $6.3B | $467.3M | 7.5% | +19.7% | Source |
| FY2017 | $5.2B | $48.3M | 0.9% | +4.0% | Source |
| FY2016 | $5B | -$3.3M | -0.1% | — | Source |
Where the revenue comes from
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.
Post Holdings
- Post Consumer Brands
Not formally reported
Cereal, granola, pet food, nut butters, and pantry products.
- Weetabix
Not formally reported
U.K. cereal and breakfast products.
- Foodservice
Not formally reported
Egg products and foodservice ingredients.
- Refrigerated Retail
Not formally reported
Bob Evans side dishes, sausage and egg products. The Crystal Farms dairy business was sold on May 1, 2026.
Business model and strategy
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.
Post Holdings
How it makes money
Post makes money by manufacturing and selling packaged food through four segments. Post Consumer Brands sells branded and private-label cereal and granola (Honey Bunches of Oats, Pebbles, Malt-O-Meal), pet food (Rachael Ray Nutrish, Nature's Recipe, 9Lives, Kibbles 'n Bits) and Peter Pan peanut butter to grocery, mass and club retailers.
Growth strategy
Post grows mainly by buying businesses and integrating them into existing plants and sales teams. Recent moves include the $1.2 billion purchase of Smucker pet food brands (April 2023), Perfection Pet Foods for $235 million (December 2023), Potato Products of Idaho (March 2025) and 8th Avenue Food & Provisions (July 2025).
Competitive advantage
Post's edge is scale in less glamorous categories plus a capital-allocation discipline that treats acquisitions, debt and buybacks as interchangeable uses of cash. Michael Foods is a major supplier of value-added eggs to foodservice, Weetabix is the UK's number-one selling ready-to-eat cereal brand, and Post Consumer Brands covers both branded and private-label cereal, which lets it sell to shoppers who trade down.
Questions about PepsiCo vs Post Holdings
Which company has higher revenue — PepsiCo, Inc. or Post Holdings, Inc.?
PepsiCo, Inc. reported $93.9B (FY2025), while Post Holdings, Inc. reported $6.2B (FY2026). By last reported revenue, PepsiCo, Inc. is the larger business, with Post Holdings, Inc. reporting a smaller revenue base. Note: these are from different fiscal years and are not a direct like-for-like comparison.
What is the market cap of PepsiCo, Inc. vs Post Holdings, Inc.?
PepsiCo, Inc.'s market capitalisation stands at $175.0B, while Post Holdings, Inc.'s is $4.7B. PepsiCo, Inc. carries the higher market valuation, reflecting investors' expectations of its future earnings power relative to Post Holdings, Inc..
Which is more financially efficient — PepsiCo, Inc. or Post Holdings, Inc.?
PepsiCo, Inc. generates $307k / employee in revenue per employee, while Post Holdings, Inc. generates $468k / employee. Post Holdings, Inc. 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 PepsiCo, Inc. and Post Holdings, Inc. make money?
PepsiCo, Inc. and Post Holdings, Inc. generate revenue in fundamentally different ways. PepsiCo, Inc.: PepsiCo makes money by manufacturing and selling branded snacks, packaged foods and beverages to retailers, foodservice operators and independent bottlers. Post Holdings, Inc.: Post makes money by manufacturing and selling packaged food through four segments.
Which company is valued higher relative to revenue — PepsiCo, Inc. or Post Holdings, Inc.?
On a price-to-sales (P/S) basis, PepsiCo, Inc. trades at 1.9x P/S and Post Holdings, Inc. at 0.8x P/S. PepsiCo, Inc. commands a higher revenue multiple, typically indicating that investors expect faster growth or higher future margins compared to Post Holdings, Inc.. A higher multiple is not inherently better — it may also signal that the stock is priced for perfection.
Is PepsiCo, Inc. bigger than Post Holdings, Inc.?
By last reported revenue, PepsiCo, Inc. ($93.9B (FY2025)) is the larger company compared to Post Holdings, Inc. ($6.2B (FY2026)). 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 PepsiCo vs Post Holdings overview