Despite Coca-Cola's stock price rising by approximately 50% over the past three years and boasting higher profit margins, its forward P/E ratio stands at 25x, exceeding PepsiCo's 15x. PepsiCo currently offers a dividend yield of 4.3%, higher than Coca-Cola's 2.4%, and has demonstrated a stronger dividend growth rate over the past five years. Analysts believe PepsiCo has greater upside potential at its current valuation.