The Idiot Index

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MarkupApplied to packaged-food, beverage, and quick-service restaurant companies. COGS captures ingredients, packaging, and (for QSR) franchise-operated cost of revenue. The Markup Ratio is meaningful but the Operational Markup is the cleaner signal because brand investment flows…
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Markup in Food & Beverage · FY 2023

22 of 34 companies · highest first
  1. 1
    YUMYum Brands
    $1 of cost becomes $3.82 of revenue
    sector median 1.6484Top 2%
    3.8168
    × revenue / cost
  2. 2
    MOAltria
    $1 of cost becomes $3.65 of revenue
    sector median 1.6484Top 7%
    3.6540
    × revenue / cost
  3. 3
    KOCoca-Cola
    $1 of cost becomes $2.52 of revenue
    sector median 1.6484Top 11%
    2.5171
    × revenue / cost
  4. 4
    CLColgate-Palmolive
    $1 of cost becomes $2.47 of revenue
    sector median 1.6484Top 16%
    2.4725
    × revenue / cost
  5. 5
    MNSTMonster Beverage
    $1 of cost becomes $2.28 of revenue
    sector median 1.6484Top 20%
    2.2777
    × revenue / cost
  6. 6
    KDPKeurig Dr Pepper
    $1 of cost becomes $2.22 of revenue
    sector median 1.6484Top 25%
    2.2227
    × revenue / cost
  7. 7
    PEPPepsiCo
    $1 of cost becomes $2.14 of revenue
    sector median 1.6484Median range
    2.1436
    × revenue / cost
  8. 8
    TAPMolson Coors
    $1 of cost becomes $2.00 of revenue
    sector median 1.6484Median range
    1.9996
    × revenue / cost
  9. 9
    HSYHershey
    $1 of cost becomes $1.82 of revenue
    sector median 1.6484Median range
    1.8224
    × revenue / cost
  10. 10
    CHDChurch & Dwight
    $1 of cost becomes $1.77 of revenue
    sector median 1.6484Median range
    1.7734
    × revenue / cost

Not yet covered (12)

These companies are in the Food & Beverage cohort but don't have a Markup computed for FY 2023. Either the underlying inputs aren't tagged in their XBRL filings, the DEF 14A pay-ratio narrative didn't parse cleanly, or this fiscal year hasn't been ingested for them yet.

What this measures

Full methodology →

How much revenue per dollar of cost.

Ratio
Markup
Sector
Food & Beverage
Methodology version
v1.0.0
Formula
Revenue / COGS
Sector context

Applied to packaged-food, beverage, and quick-service restaurant companies. COGS captures ingredients, packaging, and (for QSR) franchise-operated cost of revenue. The Markup Ratio is meaningful but the Operational Markup is the cleaner signal because brand investment flows through SG&A — and Shareholder Extraction often runs high because mature consumer-staples brands return capital aggressively rather than reinvest.

Captures gross extraction per dollar of input. A markup ratio of 5.0 means the company collects $5 in revenue for every $1 of cost-of-goods.

Source data: Revenues (us-gaap:Revenues / ifrs-full:Revenue) and CostOfGoodsAndServicesSold (us-gaap) or CostOfSales (ifrs-full).