<h2>为什么百事可乐重新引起投资者的关注</h2>
<p>百事可乐（PEP）在过去三个月中悄然上涨，股价上涨约 5%。这种稳定的上升吸引了关注收入导向的防御性投资者。</p>
<p>查看我们对百事可乐的最新分析。</p>
<p>放眼全局，百事可乐过去一年总股东回报率为 2.55%，年初至今股价略有负增长，表明投资者在重新评估其防御性盈利能力和估值后， momentum 稳定而非爆发。</p>
<p>如果百事可乐的缓慢而稳定的上升吸引了你，可能是时候扩大你的搜索范围，探索那些内部持股高的快速增长股票，以寻找更大胆的增长想法。</p>
<p>随着盈利仍在增长，股价相对于一些内在估值和分析师目标存在较大折扣，百事可乐是否在此悄然被低估，还是市场已经考虑了其下一阶段的增长？</p>
<h2>最受欢迎的叙述：3.3% 被低估</h2>
<p>百事可乐最近收盘价为 149.37 美元，而最受关注的公允价值接近 154 美元，这一叙述倾向于由结构性增长驱动的适度上行，而非深度价值重置。</p>
<blockquote>
<p><em>持续的投资和对国际扩张的战略关注，特别是在新兴市场（例如印度、拉美、中东），正在扩大百事可乐的可寻址市场，并推动更快的、提高利润率的收入增长，使公司能够受益于人口增长和可支配收入的上升。（预期影响：收入增长和地理多样化。）</em></p>
</blockquote>
<p>阅读完整的叙述。</p>
<p>想看看这个上行预测背后的数学吗？这个叙述依赖于有纪律的增长、上升的利润率和可能让你感到惊讶的未来盈利倍数。好奇哪些杠杆真正影响了这个公允价值吗？</p>
<p><strong>结果：公允价值为 154.41 美元（被低估）</strong></p>
<p>完整阅读叙述，了解预测背后的原因。</p>
<p>然而，健康产品的缓慢采用和激进的成本削减执行风险可能会对销量和利润率施加压力，最终挑战这一适度的上行预测。</p>
<p>了解这一百事可乐叙述的关键风险。</p>
<h2>估值的另一种角度</h2>
<p>虽然叙述的公允价值指向适度的上行，但百事可乐在盈利方面实际上看起来较贵。其市盈率为 28.6 倍，高于同行的 26.1 倍，甚至高于合理比例的 27 倍，这暗示今天的错误容忍度可能比看起来要薄。</p>
<p>查看数字对这个价格的看法——在我们的估值分析中了解更多。</p>
<p><img src="https://imageproxy.pbkrs.com/https://images.simplywall.st/company/6e619119-02b5-478e-b119-cd604b0e6f1c/chart/pe-multiple-vs-industry?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" width="1640" height="650" original-src="https://imageproxy.pbkrs.com/https://images.simplywall.st/company/6e619119-02b5-478e-b119-cd604b0e6f1c/chart/pe-multiple-vs-industry"/></p>
<p>纳斯达克 GS:PEP 截至 2025 年 12 月的市盈率</p>
<h2>自己构建百事可乐的叙述</h2>
<p>如果你对这个故事有不同的看法，或者更愿意自己深入数字，你可以在几分钟内使用 “按你自己的方式” 构建个性化视图。</p>
<p>你进行百事可乐研究的一个很好的起点是我们的分析，强调了 2 个关键奖励和 3 个可能影响你投资决策的重要警示信号。</p>
<h2>准备好进行下一步投资了吗？</h2>
<p>在你登出之前，利用 Simply Wall Street 强大的筛选工具，以免错过可能重塑你投资组合的高信念想法。</p>
<ul>
<li>通过瞄准这些 13 只股息收益率超过 3% 的可靠股票，确保更强的收入潜力，这些股票具有持续回报股东的财务实力。</li>
<li>通过关注这些 29 只正在改变全球医疗交付方式的医疗 AI 股票，提前布局结构性增长趋势。</li>
<li>通过关注这些 916 只基于现金流的被低估股票，抓住其他人忽视的价值机会，现金流表明市场仍在追赶。</li>
</ul>
<p><em>本文由 Simply Wall St 撰写，内容具有一般性。<strong>我们提供基于历史数据和分析师预测的评论，仅使用无偏见的方法，我们的文章并不构成财务建议。</strong> 它不构成买入或卖出任何股票的推荐，也不考虑你的目标或财务状况。我们旨在为你提供以基本数据驱动的长期分析。请注意，我们的分析可能未考虑最新的价格敏感公司公告或定性材料。Simply Wall St 在提到的任何股票中没有持仓。</em></p>
<p>移动基础设施用于国防和灾难</p>
<p>下一波机器人技术不是类人型的。它是完全自主的塔楼，在 30 分钟内提供 5G、ISR 和雷达，随时随地。</p>
<p>在下一轮合同之前获取投资者简报</p>
<p>由 CiTech 赞助</p>

百事

<p>百事的股票在过去三个月上涨了 5%，吸引了关注收入的投资者。尽管一年期回报率仅为 2.55%，但该公司被视为被低估，公允价值估计为 154.41 美元，而当前价格为 149.37 美元。战略性的国际扩张和有序的增长推动了收入，尽管面临的风险包括健康产品的接受度较低和削减成本的挑战。28.6 的市盈率表明容错空间较小。Simply Wall St 提供分析，但不提供财务建议</p>

<h2>Why PepsiCo is Back on Investors Radar</h2>
<div class="lb-trans"><h2>为什么百事可乐重新引起投资者的关注</h2>
</div><p>PepsiCo (PEP) has been quietly grinding higher, with shares up around 5% over the past 3 months. That steady climb is drawing fresh attention from income focused, defensive investors.</p>
<div class="lb-trans"><p>百事可乐（PEP）在过去三个月中悄然上涨，股价上涨约 5%。这种稳定的上升吸引了关注收入导向的防御性投资者。</p>
</div><p>See our latest analysis for PepsiCo.</p>
<div class="lb-trans"><p>查看我们对百事可乐的最新分析。</p>
</div><p>Zooming out, PepsiCo’s modest 1 year total shareholder return of 2.55% and slightly negative year to date share price return signal steady, not explosive, momentum as investors reassess its defensive earnings strength and valuation after recent cost cutting and pricing updates.</p>
<div class="lb-trans"><p>放眼全局，百事可乐过去一年总股东回报率为 2.55%，年初至今股价略有负增长，表明投资者在重新评估其防御性盈利能力和估值后， momentum 稳定而非爆发。</p>
</div><p>If PepsiCo’s slow and steady climb appeals to you, it might be a good time to broaden your search and explore fast growing stocks with high insider ownership for bolder growth ideas.</p>
<div class="lb-trans"><p>如果百事可乐的缓慢而稳定的上升吸引了你，可能是时候扩大你的搜索范围，探索那些内部持股高的快速增长股票，以寻找更大胆的增长想法。</p>
</div><p>With earnings still growing and shares trading at a sizeable discount to some intrinsic estimates and analyst targets, is PepsiCo quietly undervalued here, or is the market already factoring in its next leg of growth?</p>
<div class="lb-trans"><p>随着盈利仍在增长，股价相对于一些内在估值和分析师目标存在较大折扣，百事可乐是否在此悄然被低估，还是市场已经考虑了其下一阶段的增长？</p>
</div><h2>Most Popular Narrative Narrative: 3.3% Undervalued</h2>
<div class="lb-trans"><h2>最受欢迎的叙述：3.3% 被低估</h2>
</div><p>With PepsiCo last closing at $149.37 against a most-followed fair value near $154, the narrative leans toward modest upside driven by structural growth drivers rather than a deep value reset.</p>
<div class="lb-trans"><p>百事可乐最近收盘价为 149.37 美元，而最受关注的公允价值接近 154 美元，这一叙述倾向于由结构性增长驱动的适度上行，而非深度价值重置。</p>
</div><blockquote>
<p><em>Sustained investment and strategic focus on international expansion, particularly in emerging markets (e.g., India, LatAm, Middle East), is broadening PepsiCo's addressable market and driving faster, margin-accretive revenue growth, positioning the company to benefit from population growth and rising disposable incomes. (Expected impact: Top-line revenue and geographic diversification.)</em></p>
</blockquote>
<div class="lb-trans"><blockquote>
<p><em>持续的投资和对国际扩张的战略关注，特别是在新兴市场（例如印度、拉美、中东），正在扩大百事可乐的可寻址市场，并推动更快的、提高利润率的收入增长，使公司能够受益于人口增长和可支配收入的上升。（预期影响：收入增长和地理多样化。）</em></p>
</blockquote>
</div><p>Read the complete narrative.</p>
<div class="lb-trans"><p>阅读完整的叙述。</p>
</div><p>Want to see the math behind that upside call? The narrative leans on disciplined growth, rising margins, and a future earnings multiple that might surprise you. Curious which levers really move that fair value?</p>
<div class="lb-trans"><p>想看看这个上行预测背后的数学吗？这个叙述依赖于有纪律的增长、上升的利润率和可能让你感到惊讶的未来盈利倍数。好奇哪些杠杆真正影响了这个公允价值吗？</p>
</div><p><strong>Result: Fair Value of $154.41 (UNDERVALUED)</strong></p>
<div class="lb-trans"><p><strong>结果：公允价值为 154.41 美元（被低估）</strong></p>
</div><p>Have a read of the narrative in full and understand what's behind the forecasts.</p>
<div class="lb-trans"><p>完整阅读叙述，了解预测背后的原因。</p>
</div><p>However, slower adoption of healthier products and execution risks around aggressive cost cutting could pressure volumes and margins and ultimately challenge that modest upside case.</p>
<div class="lb-trans"><p>然而，健康产品的缓慢采用和激进的成本削减执行风险可能会对销量和利润率施加压力，最终挑战这一适度的上行预测。</p>
</div><p>Find out about the key risks to this PepsiCo narrative.</p>
<div class="lb-trans"><p>了解这一百事可乐叙述的关键风险。</p>
</div><h2>Another Angle on Valuation</h2>
<div class="lb-trans"><h2>估值的另一种角度</h2>
</div><p>While the narrative fair value points to modest upside, PepsiCo actually looks pricey on earnings. Its P E of 28.6 times sits above peers at 26.1 times and even above a fair ratio of 27 times, which hints that today the margin for error may be thinner than it seems.</p>
<div class="lb-trans"><p>虽然叙述的公允价值指向适度的上行，但百事可乐在盈利方面实际上看起来较贵。其市盈率为 28.6 倍，高于同行的 26.1 倍，甚至高于合理比例的 27 倍，这暗示今天的错误容忍度可能比看起来要薄。</p>
</div><p>See what the numbers say about this price — find out in our valuation breakdown.</p>
<div class="lb-trans"><p>查看数字对这个价格的看法——在我们的估值分析中了解更多。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://images.simplywall.st/company/6e619119-02b5-478e-b119-cd604b0e6f1c/chart/pe-multiple-vs-industry" alt="" original-src="https://images.simplywall.st/company/6e619119-02b5-478e-b119-cd604b0e6f1c/chart/pe-multiple-vs-industry"/></p>
<p>NasdaqGS:PEP PE Ratio as at Dec 2025</p>
<div class="lb-trans"><p>纳斯达克 GS:PEP 截至 2025 年 12 月的市盈率</p>
</div><h2>Build Your Own PepsiCo Narrative</h2>
<div class="lb-trans"><h2>自己构建百事可乐的叙述</h2>
</div><p>If you see the story differently, or would rather dive into the numbers yourself, you can build a personalized view in just minutes with Do it your way.</p>
<div class="lb-trans"><p>如果你对这个故事有不同的看法，或者更愿意自己深入数字，你可以在几分钟内使用 “按你自己的方式” 构建个性化视图。</p>
</div><p>A great starting point for your PepsiCo research is our analysis highlighting 2 key rewards and 3 important warning signs that could impact your investment decision.</p>
<div class="lb-trans"><p>你进行百事可乐研究的一个很好的起点是我们的分析，强调了 2 个关键奖励和 3 个可能影响你投资决策的重要警示信号。</p>
</div><h2>Ready for your next investing move?</h2>
<div class="lb-trans"><h2>准备好进行下一步投资了吗？</h2>
</div><p>Before you log off, put Simply Wall Street’s powerful Screener to work so you do not miss high conviction ideas that could reshape your portfolio.</p>
<div class="lb-trans"><p>在你登出之前，利用 Simply Wall Street 强大的筛选工具，以免错过可能重塑你投资组合的高信念想法。</p>
</div><ul>
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</ul>
<div class="lb-trans"><ul>
<li>通过瞄准这些 13 只股息收益率超过 3% 的可靠股票，确保更强的收入潜力，这些股票具有持续回报股东的财务实力。</li>
<li>通过关注这些 29 只正在改变全球医疗交付方式的医疗 AI 股票，提前布局结构性增长趋势。</li>
<li>通过关注这些 916 只基于现金流的被低估股票，抓住其他人忽视的价值机会，现金流表明市场仍在追赶。</li>
</ul>
</div><p><em>This article by Simply Wall St is general in nature. <strong>We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice.</strong> It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.</em></p>
<div class="lb-trans"><p><em>本文由 Simply Wall St 撰写，内容具有一般性。<strong>我们提供基于历史数据和分析师预测的评论，仅使用无偏见的方法，我们的文章并不构成财务建议。</strong> 它不构成买入或卖出任何股票的推荐，也不考虑你的目标或财务状况。我们旨在为你提供以基本数据驱动的长期分析。请注意，我们的分析可能未考虑最新的价格敏感公司公告或定性材料。Simply Wall St 在提到的任何股票中没有持仓。</em></p>
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<div class="lb-trans"><p>移动基础设施用于国防和灾难</p>
</div><p>The next wave in robotics isn't humanoid. Its fully autonomous towers delivering 5G, ISR, and radar in under 30 minutes, anywhere.</p>
<div class="lb-trans"><p>下一波机器人技术不是类人型的。它是完全自主的塔楼，在 30 分钟内提供 5G、ISR 和雷达，随时随地。</p>
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<div class="lb-trans"><p>在下一轮合同之前获取投资者简报</p>
</div><p>Sponsored On Behalf of CiTech</p>
<div class="lb-trans"><p>由 CiTech 赞助</p>
</div>

百事公司（PEP）：在股价连续三个月稳步上涨后进行估值评估