Capital investment and capacitymixed · 4 filings
“Investing Activities During the 24 weeks ended June 13, 2026, net cash used for investing activities was $1.4 billion , primarily reflecting net capital spending of $1.2 billion.”10-Q · Jul 9, 2026 ↗
PepsiCo, Inc.
PEP
Market read
PEP dominates a concentrated Food & Beverage move.
PEP accounts for 30.5% of the group's measured movement across 2.1 effective names. all 3 measured members are falling in raw terms, but 3 of 3 session-normalized paths align to the downside. Capital-flow agreement is 24%, so confirmation is not yet clean. No verified headline preceded the measured group move.
MOVE ANATOMY
Session-normalized 5m pathsIs this move genuinely shared?
Role in the moveDominant mover#2 of 3 by movement share
Group movement share30.5%Absolute path energy—not portfolio weight
Relative path-2.21%aligned
Effective breadth2.1 / 3concentrated
Relative alignment3/3downside path · 0 counter-moving
Capital-flow agreement24%not yet clean
SEQUENCE READ
MKC moved materially before PEP. PEP crossed its material path threshold at 10:10 ET, 15 minutes after the first measured mover. INGR followed.
EVIDENCE COVERAGE
3 of 3 members in Food & Beverage are active. 0 of 8 disclosed connections are confirming.
What would change this read
Watch this read- At least 2 of 3 durable members become active together.
- Capital-flow agreement rises above 55%.
- DAR remains aligned with the group in the next market snapshot.
Invalidation: The live read weakens if participation falls to 1 of 3 members or fewer.
Research brief
The story so far
PEP accounts for 30.5% of the group's measured movement across 2.1 effective names. all 3 measured members are falling in raw terms, but 3 of 3 session-normalized paths align to the downside. Capital-flow agreement is 24%, so confirmation is not yet clean. No verified headline preceded the measured group move.
Evidence that supports
No thresholded supportive filing evidence is available yet.
Evidence that challenges
No thresholded adverse filing evidence is available yet.
What would clarify the read
- At least 2 of 3 durable members become active together.
- Capital-flow agreement rises above 55%.
- DAR remains aligned with the group in the next market snapshot.
Company research
Understand the business, not just the ticker
Business model and earnings drivers
Use the company’s filings to identify the few operating, demand, cost, capital and regulatory variables that determine its earnings power.
Key research questions
- Which operating variable is changing?
- Is that change durable, cyclical or one-off?
- What evidence would disprove the current interpretation?
Annual periods9
Price observations615
Usable filing statements140
Verified relationships11
Evidence supporting the case
- Operating cash flow covered net income at 1.47x in the latest annual period.
- Credit and interest rates has repeated favorable evidence across 4 filings.
- Foreign exchange has repeated favorable evidence across 4 filings.
Evidence challenging the case
- Operating margin changed -1.8 percentage points in the latest annual period.
- Net margin changed -1.7 percentage points in the latest annual period.
- Energy and commodity prices has repeated adverse evidence across 4 filings.
- Restructuring and cost reductions has repeated adverse evidence across 4 filings.
Questions before a position
No credible peer-relative valuation comparison is available yet.
Longer-term price context
Price as of Sep 30, 2026
126.766m-18.4%12m-9.6%24m-25.2%
Annual trajectory
Reported annual revenue and per-share history. This is accounting history, not a forecast.
PeriodRevenueYoYDiluted EPSShare change
2021-12-25$79.5B+12.9%—-0.2%
2022-12-31$86.4B+8.7%—-0.1%
2023-12-30$91.5B+5.9%—-0.3%
2024-12-28$91.9B+0.4%—-0.4%
2025-12-27$93.9B+2.3%—-0.4%
What management says matters
Persistent and emerging business drivers
Credit and interest ratespositive · 4 filings
“Financing Activities During the 24 weeks ended June 13, 2026, net cash used for financing activities was $0.1 billion, primarily reflecting the return of operating cash flow to our shareholders through dividend payments and share repurchases of $4.4 billion a…”10-Q · Jul 9, 2026 ↗
Energy and commodity pricesnegative · 4 filings
“Operating profit increased 103%, primarily reflecting a prior-year impairment charge related to the Be & Cheery brand, productivity savings, the organic volume growth and a 10-percentage-point impact of lower commodity costs, primarily potatoes and packaging…”10-Q · Jul 9, 2026 ↗
Foreign exchangepositive · 4 filings
“As of June 13, 2026, cash, cash equivalents and short-term investments in our consolidated subsidiaries outside of Russia that are subject to currency controls or currency exchange restrictions were not material.”10-Q · Jul 9, 2026 ↗
Valuation discipline
Peer-relative valuation withheld
Jodie found no industry-matched filing peers suitable for a valuation comparison. It will not substitute broader financial-sector names.
Scenario scaffold
Mechanical 2.0-year scenarios are available as editable assumptions, not consensus.
Price action
How the market is pricing the story
125.85-2.2% today
Jodie does not have enough daily observations to draw a useful short-term chart for this asset. The latest quoted price was checked 1 Oct, 15:45 GMT-4; this is a coverage limitation, not a flat-price conclusion.
Developments
No sourced recent-development timeline yet
Jodie has not returned a relevant primary source or news item for PEP. This is an evidence-coverage gap, not a conclusion that nothing material happened.
Business and financial condition
Reported financial figures are not available yet
Jodie has not returned structured SEC XBRL fundamentals for this asset. This is a coverage limitation, not an assessment of the business or its financial health.
Filing analysis
No comparable filing assessment is available yet
Jodie has not yet found a suitable current-versus-prior filing comparison for PEP. This does not mean the latest filing was neutral or immaterial.
Business ecosystem
The relationships behind PEP
Customers, suppliers, partners and competitors named in company filings—not inferred from headlines.
Depends on
WMTWalmart Inc.customerFeb 3, 2026 ▾
“We are exposed to concentration of credit risk from our major customers, including Walmart.”
CELHCelsius Holdings, Inc.partnerFeb 3, 2026 ▾
“On the same date, we entered into an agreement with Celsius to be the exclusive distributor for the Alani Nu brand in certain channels in the United States and Canada that commenced in the fourth quarter of 2025.”
Depended on by
MKC12.0% of MKCcustomerJan 22, 2026 ▾
“Sales to one of our Flavor Solutions segment customers, PepsiCo, Inc., accounted for consolidated sales of approximately 12% in 2025, and 13% in both 2024 and 2023.”
Filing peers
Companies whose filings use similar operating language.
Open the three relationships above to see Jodie’s filing proof. Pro unlocks 10 more links, every receipt, and alerts when connected names begin moving. Unlock the full network →
What is moving around it
Live connections
PEP is currently a Early Follower in the organic co-movement group Food & Beverage. This group is discovered from market behaviour rather than assigned from an industry taxonomy. 3 filing-linked names are in the relationship map; none is currently confirmed as moving with the group.
Context history
Theme membership history
No durable theme membership has been observed for this name yet.