Frito-Lay North America generated net revenue of approximately $20.6 billion for fiscal year 2024, up modestly from the prior year. The division is PepsiCo's largest and most profitable segment, accounting for roughly 25% of total group revenue and close to half of PepsiCo's consolidated operating profit, driven by Lay's, Doritos, Cheetos, and Tostitos volume growth.
Frito-Lay Revenue
Frito-Lay North America net revenue (USD billions) — sourced from PepsiCo segment disclosures. Pre-1990 data represents approximate estimates; segment reporting was formalized by PepsiCo in later filings.
Frito-Lay Annual Revenue
| Year | Revenue (USD) | YoY Change |
|---|---|---|
| 2015 | $14.8B | — |
| 2016 | $15.0B | +1.4% |
| 2017 | $15.8B | +5.3% |
| 2018 | $16.3B | +3.2% |
| 2019 | $17.1B | +4.9% |
| 2020 | $17.2B | +0.6% |
| 2021 | $18.2B | +5.8% |
| 2022 | $20.2B | +11.0% |
| 2023 | $20.4B | +1.0% |
| 2024 | $20.6B | +1.0% |
Note: Revenue figures represent Frito-Lay North America net revenue as reported in PepsiCo's annual filings. The 2022 acceleration reflects significant pricing actions taken to offset commodity cost inflation across corn, vegetable oil, and packaging materials.