Comprehensive Stock Comparison
Compare PepsiCo, Inc. (PEP) vs Coca-Cola Europacific Partners PLC (CCEP) Stock
Analyze side-by-side fundamentals, valuation, growth, and profitability to decide which stock is the better buy.
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Quick Verdict
| Category | Winner | Why |
|---|---|---|
| Growth | PEP | 2.3% revenue growth vs CCEP's -1.8% |
| Value | CCEP | PEG 0.69 vs 6.03 |
| Quality / Margins | PEP | 8.8% net margin vs CCEP's 8.1% |
| Stability / Safety | PEP | Beta 0.14 vs CCEP's 0.16 |
| Dividends | PEP | 3.3% yield, 25-year raise streak, vs CCEP's 2.1% |
| Momentum (1Y) | CCEP | +30.7% vs PEP's +14.3% |
| Efficiency (ROA) | CCEP | 11.2% ROA vs PEP's 7.7%, ROIC 10.4% vs 14.9% |
Who Each Stock Is For
Income & stability
Growth exposure
Long-term compounding (10Y)
Sleep-well-at-night portfolio
Valuation efficiency (growth/$)
Defensive / Recession hedge
Business Model
What each company does and how it makes money
PepsiCo is a global food and beverage giant that sells iconic snack brands like Lay's and Doritos alongside its namesake soft drinks. It generates revenue primarily through its Frito-Lay North America snacks division (~50% of operating profit) and its beverage business, with the rest coming from international markets and Quaker Foods. The company's competitive moat lies in its massive scale, powerful distribution network, and portfolio of deeply entrenched household brands that command strong consumer loyalty.
Coca-Cola Europacific Partners is a major Coca-Cola bottling partner that produces, distributes, and sells non-alcoholic beverages across Europe and the Asia-Pacific region. It generates revenue primarily through beverage sales — including sparkling drinks (~60%), still beverages (~30%), and energy drinks (~10%) — with most coming from its core Coca-Cola brand portfolio. Its key advantage is exclusive long-term bottling rights for Coca-Cola products in its territories, combined with extensive distribution networks and local market expertise.
Financial Metrics Comparison
Side-by-side fundamentals across 2 stocks. BestLagging
Financial Scorecard
CCEP leads in 3 of 6 categories (Valuation Metrics, Profitability & Efficiency). PEP leads in 2 (Financial Metrics, Analyst Outlook). 1 tied.
Financial Metrics (TTM)
PEP is the larger business by revenue, generating $93.9B annually — 2.3x CCEP's $41.3B. Profitability is closely matched — net margins range from 8.8% (PEP) to 8.1% (CCEP). On growth, PEP holds the edge at +5.6% YoY revenue growth, suggesting stronger near-term business momentum.
| Metric | PEPPepsiCo, Inc. | CCEPCoca-Cola Europac… |
|---|---|---|
| RevenueTrailing 12 months | $93.9B | $41.3B |
| EBITDAEarnings before interest/tax | $14.3B | $6.7B |
| Net IncomeAfter-tax profit | $8.2B | $3.4B |
| Free Cash FlowCash after capex | $7.7B | $4.4B |
| Gross MarginGross profit ÷ Revenue | +54.1% | +35.4% |
| Operating MarginEBIT ÷ Revenue | +12.2% | +11.7% |
| Net MarginNet income ÷ Revenue | +8.8% | +8.1% |
| FCF MarginFCF ÷ Revenue | +8.2% | +10.7% |
| Rev. Growth (YoY)Latest quarter vs prior year | +5.6% | -0.6% |
| EPS Growth (YoY)Latest quarter vs prior year | +66.7% | +69.4% |
Valuation Metrics
At 22.9x trailing earnings, CCEP trades at a 19% valuation discount to PEP's 28.3x P/E. Adjusting for growth (PEG ratio), CCEP offers better value at 0.76x vs PEP's 8.67x — a lower PEG means you pay less per unit of expected earnings growth.
| Metric | PEPPepsiCo, Inc. | CCEPCoca-Cola Europac… |
|---|---|---|
| Market CapShares × price | $232.0B | $49.5B |
| Enterprise ValueMkt cap + debt − cash | $272.7B | $61.7B |
| Trailing P/EPrice ÷ TTM EPS | 28.29x | 22.89x |
| Forward P/EPrice ÷ next-FY EPS est. | 19.68x | 21.03x |
| PEG RatioP/E ÷ EPS growth rate | 8.67x | 0.76x |
| EV / EBITDAEnterprise value multiple | 19.07x | 15.07x |
| Price / SalesMarket cap ÷ Revenue | 2.47x | 2.09x |
| Price / BookPrice ÷ Book value/share | 11.33x | 5.14x |
| Price / FCFMarket cap ÷ FCF | 30.24x | 21.56x |
Profitability & Efficiency
CCEP delivers a 40.4% return on equity — every $100 of shareholder capital generates $40 in annual profit, vs $40 for PEP. CCEP carries lower financial leverage with a 1.35x debt-to-equity ratio, signaling a more conservative balance sheet compared to PEP's 2.43x. On the Piotroski fundamental quality scale (0–9), CCEP scores 6/9 vs PEP's 5/9, reflecting solid financial health.
| Metric | PEPPepsiCo, Inc. | CCEPCoca-Cola Europac… |
|---|---|---|
| ROE (TTM)Return on equity | +40.1% | +40.4% |
| ROA (TTM)Return on assets | +7.7% | +11.2% |
| ROICReturn on invested capital | +14.9% | +10.4% |
| ROCEReturn on capital employed | +16.1% | +11.4% |
| Piotroski ScoreFundamental quality 0–9 | 5 | 6 |
| Debt / EquityFinancial leverage | 2.43x | 1.35x |
| Net DebtTotal debt minus cash | $40.7B | $10.3B |
| Cash & Equiv.Liquid assets | $9.2B | $918M |
| Total DebtShort + long-term debt | $49.9B | $11.2B |
| Interest CoverageEBIT ÷ Interest expense | 10.34x | 9.78x |
Total Returns (with DRIP)
A $10,000 investment in CCEP five years ago would be worth $22,866 today (with dividends reinvested), compared to $14,884 for PEP. Over the past 12 months, CCEP leads with a +30.7% total return vs PEP's +14.3%. The 3-year compound annual growth rate (CAGR) favors CCEP at 28.6% vs PEP's 2.3% — a key indicator of consistent wealth creation.
| Metric | PEPPepsiCo, Inc. | CCEPCoca-Cola Europac… |
|---|---|---|
| YTD ReturnYear-to-date | +19.3% | +25.2% |
| 1-Year ReturnPast 12 months | +14.3% | +30.7% |
| 3-Year ReturnCumulative with dividends | +7.0% | +112.4% |
| 5-Year ReturnCumulative with dividends | +48.8% | +128.7% |
| 10-Year ReturnCumulative with dividends | +116.7% | +189.0% |
| CAGR (3Y)Annualised 3-year return | +2.3% | +28.6% |
Risk & Volatility
PEP is the less volatile stock with a 0.14 beta — it tends to amplify market swings less than CCEP's 0.16 beta. A beta below 1.0 means the stock typically moves less than the S&P 500.
| Metric | PEPPepsiCo, Inc. | CCEPCoca-Cola Europac… |
|---|---|---|
| Beta (5Y)Sensitivity to S&P 500 | 0.14x | 0.16x |
| 52-Week HighHighest price in past year | $171.48 | $110.90 |
| 52-Week LowLowest price in past year | $127.60 | $80.70 |
| % of 52W HighCurrent price vs 52-week peak | +99.0% | +99.6% |
| RSI (14)Momentum oscillator 0–100 | 65.3 | 88.4 |
| Avg Volume (50D)Average daily shares traded | 7.3M | 1.3M |
Analyst Outlook
Wall Street rates PEP as "Hold" and CCEP as "Buy". Consensus price targets imply 2.3% upside for CCEP (target: $113) vs -1.2% for PEP (target: $168). For income investors, PEP offers the higher dividend yield at 3.28% vs CCEP's 2.09%.
| Metric | PEPPepsiCo, Inc. | CCEPCoca-Cola Europac… |
|---|---|---|
| Analyst RatingConsensus buy/hold/sell | Hold | Buy |
| Price TargetConsensus 12-month target | $167.75 | $113.00 |
| # AnalystsCovering analysts | 44 | 28 |
| Dividend YieldAnnual dividend ÷ price | +3.3% | +2.1% |
| Dividend StreakConsecutive years of raises | 25 | 0 |
| Dividend / ShareAnnual DPS | $5.57 | $1.95 |
| Buyback YieldShare repurchases ÷ mkt cap | +0.4% | +2.4% |
Historical Charts
Charts are rendered on first load. Hover for details.
Chart 1Total Return — 5 Years (Rebased to 100)
| Stock | Mar 20 | Feb 26 | Change |
|---|---|---|---|
| PepsiCo, Inc. (PEP) | 100 | 112.81 | +12.8% |
| Coca-Cola Europacif… (CCEP) | 100 | 172.56 | +72.6% |
Coca-Cola Europacif… (CCEP) returned +129% over 5 years vs PepsiCo, Inc. (PEP)'s +49%. A $10,000 investment in CCEP 5 years ago would be worth $22,866 today (including dividends reinvested).
Chart 2Revenue Growth — 10 Years
| Stock | 2016 | 2025 | Change |
|---|---|---|---|
| PepsiCo, Inc. (PEP) | $62.8B | $93.9B | +49.6% |
| Coca-Cola Europacif… (CCEP) | $9.6B | $20.1B | +109.6% |
PepsiCo, Inc.'s revenue grew from $62.8B (2016) to $93.9B (2025) — a 4.6% CAGR. Coca-Cola Europacific Partners PLC's revenue grew from $9.6B (2016) to $20.1B (2025) — a 8.6% CAGR.
Chart 3Net Margin Trend — 10 Years
| Stock | 2016 | 2025 | Change |
|---|---|---|---|
| PepsiCo, Inc. (PEP) | 10.1% | 8.8% | -13.0% |
| Coca-Cola Europacif… (CCEP) | 6.0% | 9.3% | +54.6% |
PepsiCo, Inc.'s net margin went from 10% (2016) to 9% (2025). Coca-Cola Europacific Partners PLC's net margin went from 6% (2016) to 9% (2025).
Chart 4P/E Ratio History — 9 Years
| Stock | 2017 | 2025 | Change |
|---|---|---|---|
| PepsiCo, Inc. (PEP) | 35.5 | 23.9 | -32.7% |
| Coca-Cola Europacif… (CCEP) | 30.2 | 22.2 | -26.5% |
PepsiCo, Inc. has traded in a 13x–36x P/E range over 9 years; current trailing P/E is ~28x. Coca-Cola Europacific Partners PLC has traded in a 17x–46x P/E range over 9 years; current trailing P/E is ~23x.
Chart 5EPS Growth — 10 Years
| Stock | 2016 | 2025 | Change |
|---|---|---|---|
| PepsiCo, Inc. (PEP) | 4.36 | 6 | +37.6% |
| Coca-Cola Europacif… (CCEP) | 1.5 | 4.09 | +172.7% |
PepsiCo, Inc.'s EPS grew from $4.36 (2016) to $6.00 (2025) — a 4% CAGR. Coca-Cola Europacific Partners PLC's EPS grew from $1.50 (2016) to $4.09 (2025) — a 12% CAGR.
Chart 6Free Cash Flow — 5 Years
PepsiCo, Inc. generated $8B FCF in 2025 (+10% vs 2021). Coca-Cola Europacific Partners PLC generated $2B FCF in 2025 (+10% vs 2021).
PEP vs CCEP: Frequently Asked Questions
9 questions · data-driven answers · updated daily
01Is PEP or CCEP a better buy right now?
Coca-Cola Europacific Partners PLC (CCEP) offers the better valuation at 22.9x trailing P/E (21.0x forward), making it the more compelling value choice. Analysts rate Coca-Cola Europacific Partners PLC (CCEP) a "Buy" — based on 28 analyst ratings — the highest consensus in this comparison. The "better buy" depends entirely on your goals: growth investors should weight revenue trajectory, value investors should weight P/E and PEG, and income investors should weight dividend yield and streak.
02Which has the better valuation — PEP or CCEP?
On trailing P/E, Coca-Cola Europacific Partners PLC (CCEP) is the cheapest at 22.9x versus PepsiCo, Inc. at 28.3x. On forward P/E, PepsiCo, Inc. is actually cheaper at 19.7x — notably different from the trailing picture, reflecting expected earnings growth. The PEG ratio (P/E divided by earnings growth rate) is the most growth-adjusted single valuation metric: Coca-Cola Europacific Partners PLC wins at 0.69x versus PepsiCo, Inc.'s 6.03x — a PEG below 1.0 traditionally signals the market is underpricing earnings growth.
03Which is the better long-term investment — PEP or CCEP?
Over the past 5 years, Coca-Cola Europacific Partners PLC (CCEP) delivered a total return of +128.7%, compared to +48.8% for PepsiCo, Inc. (PEP). A $10,000 investment in CCEP five years ago would be worth approximately $23K today (assuming dividends reinvested). Over 10 years, the gap is even starker: CCEP returned +189.0% versus PEP's +116.7%. Past returns do not guarantee future results, and the stock with the higher historical return may already have its best growth priced in.
04Which is safer — PEP or CCEP?
By beta (market sensitivity over 5 years), PepsiCo, Inc. (PEP) is the lower-risk stock at 0.14β versus Coca-Cola Europacific Partners PLC's 0.16β — meaning CCEP is approximately 11% more volatile than PEP relative to the S&P 500. On balance sheet safety, Coca-Cola Europacific Partners PLC (CCEP) carries a lower debt/equity ratio of 135% versus 2% for PepsiCo, Inc. — giving it more financial flexibility in a downturn.
05Which has better profit margins — PEP or CCEP?
Coca-Cola Europacific Partners PLC (CCEP) is the more profitable company, earning 9.3% net margin versus 8.8% for PepsiCo, Inc. — meaning it keeps 9.3% of every revenue dollar as bottom-line profit. Operating margin tells a similar story: CCEP leads at 12.9% versus 12.2% for PEP. At the gross margin level — before operating expenses — PEP leads at 54.1%, reflecting greater pricing power or product mix advantage. Stronger margins indicate durable pricing power, lower cost of revenue, or higher mix of software/services. They are one of the clearest signs of business quality.
06Is PEP or CCEP more undervalued right now?
The PEG ratio (forward P/E divided by expected earnings growth rate) is the most precise measure of undervaluation relative to growth potential. By this metric, Coca-Cola Europacific Partners PLC (CCEP) is the more undervalued stock at a PEG of 0.69x versus PepsiCo, Inc.'s 6.03x. A PEG below 1.0 is traditionally considered the threshold for growth-adjusted undervaluation. On forward earnings alone, PepsiCo, Inc. (PEP) trades at 19.7x forward P/E versus 21.0x for Coca-Cola Europacific Partners PLC — 1.4x cheaper on a one-year earnings basis. Analyst consensus price targets imply the most upside for CCEP: 2.3% to $113.00.
07Which pays a better dividend — PEP or CCEP?
All stocks in this comparison pay dividends. PepsiCo, Inc. (PEP) offers the highest yield at 3.3%, versus 2.1% for Coca-Cola Europacific Partners PLC (CCEP).
08Is PEP or CCEP better for a retirement portfolio?
For long-horizon retirement investors, Coca-Cola Europacific Partners PLC (CCEP) is the stronger choice — it scores higher on the combination of lower volatility, dividend reliability, and long-term compounding (low volatility (β 0.16), 2.1% yield, +189.0% 10Y return). Both have compounded well over 10 years (CCEP: +189.0%, PEP: +116.7%), confirming both are viable long-term holds — but the lower-volatility option typically results in less emotional selling during corrections. Retirement portfolios generally favour predictability over maximum returns. Consult a financial advisor before making allocation decisions.
09What are the main differences between PEP and CCEP?
Both stocks operate in the Consumer Defensive sector, making this a peer-level intra-sector comparison — the same macro tailwinds and headwinds will affect both. In terms of investment character: PEP is a large-cap income-oriented stock; CCEP is a mid-cap quality compounder stock. These fundamental differences mean investors should not choose between them on a single metric — the "better stock" depends entirely on which of these characteristics aligns with your investment strategy.
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