Despite this margin advantage, Coca Cola's ROE (return on equity) for 2014 stood at 22% (28% for 2012), lower than the 31% (29% for 2012) ROE generated by PepsiCo. Coca Cola has a higher margin than PepsiCo; however the latter seems to be using its capital more efficiently leading to a similar return on capital employed by both companies in the last two years.