Comprehensive Stock Comparison
Compare Coca-Cola Consolidated, Inc. (COKE) vs PepsiCo, Inc. (PEP) 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 | COKE | 4.8% revenue growth vs PEP's 2.3% |
| Value | COKE | PEG 0.99 vs 6.03 |
| Quality / Margins | PEP | 8.8% net margin vs COKE's 8.7% |
| Stability / Safety | PEP | Beta 0.14 vs COKE's 0.33 |
| Dividends | PEP | 3.3% yield, 25-year raise streak, vs COKE's 0.5% |
| Momentum (1Y) | COKE | +43.5% vs PEP's +14.3% |
| Efficiency (ROA) | COKE | 10.8% ROA vs PEP's 7.7%, ROIC 35.0% 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
Coca-Cola Consolidated is the largest independent Coca-Cola bottler in the United States, manufacturing and distributing Coca-Cola products across 14 states. It generates revenue primarily through beverage sales—sparkling drinks like Coke and Sprite (~60% of sales) and still beverages including water, tea, and energy drinks (~40%)—with distribution to retailers, restaurants, and vending outlets. Its key advantage is exclusive territorial rights to produce and distribute Coca-Cola products in its operating regions, creating a protected geographic moat.
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.
Revenue Breakdown by Segment
How each company's revenue is distributed across its business units
Segment breakdown not available.
Financial Metrics Comparison
Side-by-side fundamentals across 2 stocks. BestLagging
Financial Scorecard
COKE leads in 3 of 6 categories (Valuation Metrics, Profitability & Efficiency). PEP leads in 2 (Risk & Volatility, Analyst Outlook). 1 tied.
Financial Metrics (TTM)
PEP is the larger business by revenue, generating $93.9B annually — 13.3x COKE's $7.1B. Profitability is closely matched — net margins range from 8.8% (PEP) to 8.7% (COKE).
| Metric | COKECoca-Cola Consoli… | PEPPepsiCo, Inc. |
|---|---|---|
| RevenueTrailing 12 months | $7.1B | $93.9B |
| EBITDAEarnings before interest/tax | $1.1B | $14.3B |
| Net IncomeAfter-tax profit | $612M | $8.2B |
| Free Cash FlowCash after capex | $598M | $7.7B |
| Gross MarginGross profit ÷ Revenue | +39.8% | +54.1% |
| Operating MarginEBIT ÷ Revenue | +13.1% | +12.2% |
| Net MarginNet income ÷ Revenue | +8.7% | +8.8% |
| FCF MarginFCF ÷ Revenue | +8.5% | +8.2% |
| Rev. Growth (YoY)Latest quarter vs prior year | +6.9% | +5.6% |
| EPS Growth (YoY)Latest quarter vs prior year | +24.2% | +66.7% |
Valuation Metrics
At 28.3x trailing earnings, PEP trades at a 5% valuation discount to COKE's 29.7x P/E. Adjusting for growth (PEG ratio), COKE offers better value at 0.99x vs PEP's 8.67x — a lower PEG means you pay less per unit of expected earnings growth.
| Metric | COKECoca-Cola Consoli… | PEPPepsiCo, Inc. |
|---|---|---|
| Market CapShares × price | $11.4B | $232.0B |
| Enterprise ValueMkt cap + debt − cash | $14.1B | $272.7B |
| Trailing P/EPrice ÷ TTM EPS | 29.72x | 28.29x |
| Forward P/EPrice ÷ next-FY EPS est. | — | 19.68x |
| PEG RatioP/E ÷ EPS growth rate | 0.99x | 8.67x |
| EV / EBITDAEnterprise value multiple | 14.80x | 19.07x |
| Price / SalesMarket cap ÷ Revenue | 1.58x | 2.47x |
| Price / BookPrice ÷ Book value/share | — | 11.33x |
| Price / FCFMarket cap ÷ FCF | 18.48x | 30.24x |
Profitability & Efficiency
PEP delivers a 40.1% return on equity — every $100 of shareholder capital generates $40 in annual profit, vs $37 for COKE.
| Metric | COKECoca-Cola Consoli… | PEPPepsiCo, Inc. |
|---|---|---|
| ROE (TTM)Return on equity | +37.4% | +40.1% |
| ROA (TTM)Return on assets | +10.8% | +7.7% |
| ROICReturn on invested capital | +35.0% | +14.9% |
| ROCEReturn on capital employed | +26.5% | +16.1% |
| Piotroski ScoreFundamental quality 0–9 | 5 | 5 |
| Debt / EquityFinancial leverage | — | 2.43x |
| Net DebtTotal debt minus cash | $2.6B | $40.7B |
| Cash & Equiv.Liquid assets | $282M | $9.2B |
| Total DebtShort + long-term debt | $2.9B | $49.9B |
| Interest CoverageEBIT ÷ Interest expense | 35.91x | 10.34x |
Total Returns (with DRIP)
A $10,000 investment in COKE five years ago would be worth $80,313 today (with dividends reinvested), compared to $14,884 for PEP. Over the past 12 months, COKE leads with a +43.5% total return vs PEP's +14.3%. The 3-year compound annual growth rate (CAGR) favors COKE at 54.6% vs PEP's 2.3% — a key indicator of consistent wealth creation.
| Metric | COKECoca-Cola Consoli… | PEPPepsiCo, Inc. |
|---|---|---|
| YTD ReturnYear-to-date | +35.2% | +19.3% |
| 1-Year ReturnPast 12 months | +43.5% | +14.3% |
| 3-Year ReturnCumulative with dividends | +269.5% | +7.0% |
| 5-Year ReturnCumulative with dividends | +703.1% | +48.8% |
| 10-Year ReturnCumulative with dividends | +1088.9% | +116.7% |
| CAGR (3Y)Annualised 3-year return | +54.6% | +2.3% |
Risk & Volatility
PEP is the less volatile stock with a 0.14 beta — it tends to amplify market swings less than COKE's 0.33 beta. A beta below 1.0 means the stock typically moves less than the S&P 500.
| Metric | COKECoca-Cola Consoli… | PEPPepsiCo, Inc. |
|---|---|---|
| Beta (5Y)Sensitivity to S&P 500 | 0.33x | 0.14x |
| 52-Week HighHighest price in past year | $205.00 | $171.48 |
| 52-Week LowLowest price in past year | $105.21 | $127.60 |
| % of 52W HighCurrent price vs 52-week peak | +98.7% | +99.0% |
| RSI (14)Momentum oscillator 0–100 | 83.9 | 65.3 |
| Avg Volume (50D)Average daily shares traded | 369K | 7.3M |
Analyst Outlook
Wall Street rates COKE as "Hold" and PEP as "Hold". For income investors, PEP offers the higher dividend yield at 3.28% vs COKE's 0.51%.
| Metric | COKECoca-Cola Consoli… | PEPPepsiCo, Inc. |
|---|---|---|
| Analyst RatingConsensus buy/hold/sell | Hold | Hold |
| Price TargetConsensus 12-month target | — | $167.75 |
| # AnalystsCovering analysts | 1 | 44 |
| Dividend YieldAnnual dividend ÷ price | +0.5% | +3.3% |
| Dividend StreakConsecutive years of raises | 0 | 25 |
| Dividend / ShareAnnual DPS | $1.03 | $5.57 |
| Buyback YieldShare repurchases ÷ mkt cap | 0.0% | +0.4% |
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 |
|---|---|---|---|
| Coca-Cola Consolida… (COKE) | 100 | 725.9 | +625.9% |
| PepsiCo, Inc. (PEP) | 100 | 114.47 | +14.5% |
Coca-Cola Consolida… (COKE) returned +703% over 5 years vs PepsiCo, Inc. (PEP)'s +49%. A $10,000 investment in COKE 5 years ago would be worth $80,313 today (including dividends reinvested).
Chart 2Revenue Growth — 10 Years
| Stock | 2016 | 2025 | Change |
|---|---|---|---|
| Coca-Cola Consolida… (COKE) | $3.2B | $7.2B | +129.0% |
| PepsiCo, Inc. (PEP) | $62.8B | $93.9B | +49.6% |
Coca-Cola Consolidated, Inc.'s revenue grew from $3.2B (2016) to $7.2B (2025) — a 9.6% CAGR. PepsiCo, Inc.'s revenue grew from $62.8B (2016) to $93.9B (2025) — a 4.6% CAGR.
Chart 3Net Margin Trend — 10 Years
| Stock | 2016 | 2025 | Change |
|---|---|---|---|
| Coca-Cola Consolida… (COKE) | 1.6% | 7.9% | +396.9% |
| PepsiCo, Inc. (PEP) | 10.1% | 8.8% | -13.0% |
Coca-Cola Consolidated, Inc.'s net margin went from 2% (2016) to 8% (2025). PepsiCo, Inc.'s net margin went from 10% (2016) to 9% (2025).
Chart 4P/E Ratio History — 9 Years
| Stock | 2017 | 2025 | Change |
|---|---|---|---|
| Coca-Cola Consolida… (COKE) | 20.9 | 22.5 | +7.7% |
| PepsiCo, Inc. (PEP) | 35.5 | 23.9 | -32.7% |
Coca-Cola Consolidated, Inc. has traded in a 11x–142x P/E range over 8 years; current trailing P/E is ~30x. PepsiCo, Inc. has traded in a 13x–36x P/E range over 9 years; current trailing P/E is ~28x.
Chart 5EPS Growth — 10 Years
| Stock | 2016 | 2025 | Change |
|---|---|---|---|
| Coca-Cola Consolida… (COKE) | 0.54 | 6.81 | +1170.5% |
| PepsiCo, Inc. (PEP) | 4.36 | 6 | +37.6% |
Coca-Cola Consolidated, Inc.'s EPS grew from $0.54 (2016) to $6.81 (2025) — a 33% CAGR. PepsiCo, Inc.'s EPS grew from $4.36 (2016) to $6.00 (2025) — a 4% CAGR.
Chart 6Free Cash Flow — 5 Years
Coca-Cola Consolidated, Inc. generated $620M FCF in 2025 (+69% vs 2021). PepsiCo, Inc. generated $8B FCF in 2025 (+10% vs 2021).
COKE vs PEP: Frequently Asked Questions
8 questions · data-driven answers · updated daily
01Is COKE or PEP a better buy right now?
PepsiCo, Inc. (PEP) offers the better valuation at 28.3x trailing P/E (19.7x forward), making it the more compelling value choice. Analysts rate Coca-Cola Consolidated, Inc. (COKE) a "Hold" — based on 1 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 — COKE or PEP?
On trailing P/E, PepsiCo, Inc. (PEP) is the cheapest at 28.3x versus Coca-Cola Consolidated, Inc. at 29.7x.
03Which is the better long-term investment — COKE or PEP?
Over the past 5 years, Coca-Cola Consolidated, Inc. (COKE) delivered a total return of +703.1%, compared to +48.8% for PepsiCo, Inc. (PEP). A $10,000 investment in COKE five years ago would be worth approximately $80K today (assuming dividends reinvested). Over 10 years, the gap is even starker: COKE returned +1089% 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 — COKE or PEP?
By beta (market sensitivity over 5 years), PepsiCo, Inc. (PEP) is the lower-risk stock at 0.14β versus Coca-Cola Consolidated, Inc.'s 0.33β — meaning COKE is approximately 134% more volatile than PEP relative to the S&P 500.
05Which has better profit margins — COKE or PEP?
PepsiCo, Inc. (PEP) is the more profitable company, earning 8.8% net margin versus 7.9% for Coca-Cola Consolidated, Inc. — meaning it keeps 8.8% of every revenue dollar as bottom-line profit. Operating margin tells a similar story: COKE leads at 13.2% 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.
06Which pays a better dividend — COKE or PEP?
All stocks in this comparison pay dividends. PepsiCo, Inc. (PEP) offers the highest yield at 3.3%, versus 0.5% for Coca-Cola Consolidated, Inc. (COKE).
07Is COKE or PEP better for a retirement portfolio?
For long-horizon retirement investors, Coca-Cola Consolidated, Inc. (COKE) is the stronger choice — it scores higher on the combination of lower volatility, dividend reliability, and long-term compounding (low volatility (β 0.33), 0.5% yield, +1089% 10Y return). Both have compounded well over 10 years (COKE: +1089%, 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.
08What are the main differences between COKE and PEP?
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: COKE is a mid-cap quality compounder stock; PEP is a large-cap income-oriented 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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