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百事公司（PEP）与西斯科（SYY）财务数据对比。点击上方公司名可切换其他公司
百事公司的季度营收约是西斯科的1.4倍（$29.3B vs $20.8B），百事公司净利率更高（8.7% vs 1.9%，领先6.8%），百事公司同比增速更快（5.6% vs 3.0%），百事公司自由现金流更多（$4.7B vs $385.0M），过去两年百事公司的营收复合增速更高（26.8% vs 3.5%）
百事公司是总部位于美国纽约州珀彻斯的跨国食品饮料巨头，1965年由百事可乐公司与菲多利公司合并组建。其业务覆盖食品饮料全品类，负责旗下产品的生产、分销及营销推广，产品线已从最初的百事可乐拓展为丰富多元的品牌矩阵。
西斯科是总部位于美国得克萨斯州休斯敦能源走廊区的跨国企业，主要为餐厅、医疗机构、教育机构、体育场馆等各类提供餐食的场所销售配送食品产品，同时也供应餐饮服务相关用品及设备。
PEP vs SYY — 直观对比
营收规模更大
PEP
是对方的1.4倍
$20.8B
营收增速更快
PEP
高出2.6%
3.0%
净利率更高
PEP
高出6.8%
1.9%
自由现金流更多
PEP
多$4.3B
$385.0M
两年增速更快
PEP
近两年复合增速
3.5%
损益表 — Q4 FY2025 vs Q2 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $29.3B | $20.8B |
| 净利润 | $2.5B | $389.0M |
| 毛利率 | 53.2% | 18.3% |
| 营业利润率 | 12.1% | 3.3% |
| 净利率 | 8.7% | 1.9% |
| 营收同比 | 5.6% | 3.0% |
| 净利润同比 | 66.8% | -4.2% |
| 每股收益（稀释后） | $1.85 | $0.81 |
绿色 = 该指标领先。财年不对齐时期间可能不同
8季度营收与利润趋势
并排季度历史对比，按日历期对齐，财年错位的公司也能正确匹配
营收PEPSYY
| Q4 25 | $29.3B | $20.8B | ||
| Q3 25 | $23.9B | $21.1B | ||
| Q2 25 | $22.7B | $21.1B | ||
| Q1 25 | $17.9B | $19.6B | ||
| Q4 24 | $27.8B | $20.2B | ||
| Q3 24 | $23.3B | $20.5B | ||
| Q2 24 | $22.5B | $20.6B | ||
| Q1 24 | $18.3B | $19.4B |
净利润PEPSYY
| Q4 25 | $2.5B | $389.0M | ||
| Q3 25 | $2.6B | $476.0M | ||
| Q2 25 | $1.3B | $531.0M | ||
| Q1 25 | $1.8B | $401.0M | ||
| Q4 24 | $1.5B | $406.0M | ||
| Q3 24 | $2.9B | $490.0M | ||
| Q2 24 | $3.1B | $611.7M | ||
| Q1 24 | $2.0B | $424.7M |
毛利率PEPSYY
| Q4 25 | 53.2% | 18.3% | ||
| Q3 25 | 53.6% | 18.4% | ||
| Q2 25 | 54.7% | 18.9% | ||
| Q1 25 | 55.8% | 18.3% | ||
| Q4 24 | 52.6% | 18.1% | ||
| Q3 24 | 55.4% | 18.3% | ||
| Q2 24 | 55.9% | 18.7% | ||
| Q1 24 | 54.8% | 18.6% |
营业利润率PEPSYY
| Q4 25 | 12.1% | 3.3% | ||
| Q3 25 | 14.9% | 3.8% | ||
| Q2 25 | 7.9% | 4.2% | ||
| Q1 25 | 14.4% | 3.5% | ||
| Q4 24 | 8.1% | 3.5% | ||
| Q3 24 | 16.6% | 3.9% | ||
| Q2 24 | 18.0% | 4.7% | ||
| Q1 24 | 14.9% | 3.7% |
净利率PEPSYY
| Q4 25 | 8.7% | 1.9% | ||
| Q3 25 | 10.9% | 2.3% | ||
| Q2 25 | 5.6% | 2.5% | ||
| Q1 25 | 10.2% | 2.0% | ||
| Q4 24 | 5.5% | 2.0% | ||
| Q3 24 | 12.6% | 2.4% | ||
| Q2 24 | 13.7% | 3.0% | ||
| Q1 24 | 11.2% | 2.2% |
每股收益（稀释后）PEPSYY
| Q4 25 | $1.85 | $0.81 | ||
| Q3 25 | $1.90 | $0.99 | ||
| Q2 25 | $0.92 | $1.10 | ||
| Q1 25 | $1.33 | $0.82 | ||
| Q4 24 | $1.11 | $0.82 | ||
| Q3 24 | $2.13 | $0.99 | ||
| Q2 24 | $2.23 | $1.23 | ||
| Q1 24 | $1.48 | $0.85 |
资产负债表与财务实力
最新季度各公司的流动性、杠杆与账面价值一览
| 指标 | | |
|---|---|---|
| 现金及短期投资手头流动性 | $9.5B | $1.2B |
| 总债务越低越好 | $42.3B | $12.4B |
| 股东权益账面价值 | $20.4B | $2.3B |
| 总资产 | $107.4B | $27.2B |
| 负债/权益比越低杠杆越低 | 2.07× | 5.45× |
8季度趋势，按日历期对齐
现金及短期投资PEPSYY
| Q4 25 | $9.5B | $1.2B | ||
| Q3 25 | $8.7B | $844.0M | ||
| Q2 25 | $8.0B | $1.1B | ||
| Q1 25 | $8.6B | $1.5B | ||
| Q4 24 | $9.3B | $793.0M | ||
| Q3 24 | $8.1B | $733.0M | ||
| Q2 24 | $6.7B | $696.0M | ||
| Q1 24 | $8.3B | $598.3M |
总债务PEPSYY
| Q4 25 | $42.3B | $12.4B | ||
| Q3 25 | $44.1B | $11.5B | ||
| Q2 25 | $39.3B | $12.4B | ||
| Q1 25 | $39.4B | $12.2B | ||
| Q4 24 | $37.2B | $11.4B | ||
| Q3 24 | $38.5B | $11.9B | ||
| Q2 24 | $36.6B | $11.5B | ||
| Q1 24 | $37.7B | $12.1B |
股东权益PEPSYY
| Q4 25 | $20.4B | $2.3B | ||
| Q3 25 | $19.4B | $2.1B | ||
| Q2 25 | $18.4B | $1.8B | ||
| Q1 25 | $18.4B | $1.9B | ||
| Q4 24 | $18.0B | $2.0B | ||
| Q3 24 | $19.5B | $2.2B | ||
| Q2 24 | $19.4B | $1.9B | ||
| Q1 24 | $19.0B | $2.1B |
总资产PEPSYY
| Q4 25 | $107.4B | $27.2B | ||
| Q3 25 | $106.6B | $27.0B | ||
| Q2 25 | $105.3B | $26.8B | ||
| Q1 25 | $101.7B | $26.3B | ||
| Q4 24 | $99.5B | $25.3B | ||
| Q3 24 | $100.5B | $25.9B | ||
| Q2 24 | $99.5B | $24.9B | ||
| Q1 24 | $100.0B | $24.7B |
负债/权益比PEPSYY
| Q4 25 | 2.07× | 5.45× | ||
| Q3 25 | 2.28× | 5.54× | ||
| Q2 25 | 2.14× | 6.75× | ||
| Q1 25 | 2.14× | 6.37× | ||
| Q4 24 | 2.06× | 5.66× | ||
| Q3 24 | 1.98× | 5.38× | ||
| Q2 24 | 1.88× | 6.19× | ||
| Q1 24 | 1.98× | 5.77× |
现金流与资本效率
扣除再投资后实际产生的现金。现金流比净利润更难造假
| 指标 | | |
|---|---|---|
| 经营现金流最新季度 | $6.6B | $525.0M |
| 自由现金流经营现金流 - 资本支出 | $4.7B | $385.0M |
| 自由现金流率自由现金流/营收 | 16.0% | 1.9% |
| 资本支出强度资本支出/营收 | 6.5% | 0.7% |
| 现金转化率经营现金流/净利润 | 2.61× | 1.35× |
| 过去12个月自由现金流最近4个季度 | $7.7B | $1.8B |
8季度趋势，按日历期对齐
经营现金流PEPSYY
| Q4 25 | $6.6B | $525.0M | ||
| Q3 25 | $4.5B | $86.0M | ||
| Q2 25 | $2.0B | $1.2B | ||
| Q1 25 | $-973.0M | $819.0M | ||
| Q4 24 | $6.3B | $445.0M | ||
| Q3 24 | $4.9B | $53.0M | ||
| Q2 24 | $2.4B | $1.6B | ||
| Q1 24 | $-1.0B | $517.3M |
自由现金流PEPSYY
| Q4 25 | $4.7B | $385.0M | ||
| Q3 25 | $3.5B | $-74.0M | ||
| Q2 25 | $1.1B | $819.0M | ||
| Q1 25 | $-1.6B | $620.0M | ||
| Q4 24 | $3.8B | $234.0M | ||
| Q3 24 | $3.8B | $-69.0M | ||
| Q2 24 | $1.3B | $1.3B | ||
| Q1 24 | $-1.7B | $333.9M |
自由现金流率PEPSYY
| Q4 25 | 16.0% | 1.9% | ||
| Q3 25 | 14.5% | -0.3% | ||
| Q2 25 | 4.7% | 3.9% | ||
| Q1 25 | -8.8% | 3.2% | ||
| Q4 24 | 13.7% | 1.2% | ||
| Q3 24 | 16.1% | -0.3% | ||
| Q2 24 | 5.6% | 6.4% | ||
| Q1 24 | -9.1% | 1.7% |
资本支出强度PEPSYY
| Q4 25 | 6.5% | 0.7% | ||
| Q3 25 | 4.1% | 0.8% | ||
| Q2 25 | 4.0% | 1.8% | ||
| Q1 25 | 3.4% | 1.0% | ||
| Q4 24 | 8.9% | 1.0% | ||
| Q3 24 | 4.9% | 0.6% | ||
| Q2 24 | 4.8% | 1.5% | ||
| Q1 24 | 3.4% | 0.9% |
现金转化率PEPSYY
| Q4 25 | 2.61× | 1.35× | ||
| Q3 25 | 1.72× | 0.18× | ||
| Q2 25 | 1.56× | 2.25× | ||
| Q1 25 | -0.53× | 2.04× | ||
| Q4 24 | 4.13× | 1.10× | ||
| Q3 24 | 1.67× | 0.11× | ||
| Q2 24 | 0.76× | 2.64× | ||
| Q1 24 | -0.51× | 1.22× |
财务流量对比
营收 → 毛利润 → 营业利润 → 净利润流向图
业务分部营收拆解
PEP
| Pepsi Co Foods North America | $8.3B | 28% |
| Pepsi Co Beverages North America | $8.2B | 28% |
| Europe Middle East Africa Segment | $6.1B | 21% |
| Latin America Foods Segment | $3.7B | 13% |
| International Beverage Franchise | $1.6B | 5% |
| Asia Pacific Foods Segment | $1.5B | 5% |
SYY
| International Foodservice Operations | $4.0B | 19% |
| Fresh And Frozen Meats1 | $3.0B | 14% |
| Canned And Dry Products1 | $2.7B | 13% |
| Sygma Segment | $2.1B | 10% |
| Frozen Fruits Vegetables Bakery And Other1 | $2.1B | 10% |
| Dairy Products1 | $1.5B | 7% |
| Poultry1 | $1.3B | 6% |
| Fresh Produce1 | $1.3B | 6% |
| Paper And Disposables1 | $1.0B | 5% |
| Seafood1 | $542.0M | 3% |
| Beverage Products1 | $390.0M | 2% |
| Other Products | $289.0M | 1% |
| Equipment And Smallwares | $286.0M | 1% |
