KDP · Keurig Dr Pepper Inc.

$29.67 -0.53 (-1.75%) At close · Jul 23

Market Cap

$40.37B

1.36B

Income-statement, balance-sheet and cash-flow figures extracted from the company's SEC filings — 10-K annual and 10-Q quarterly reports — and standardised for comparison across periods.

Revenue

$16.6B +8.2%

FY2025

Net Income

$2.08B +44.3%

FY2025

Gross Margin

54.2% -1.4pp

FY2025

Operating Margin

21.53% +4.6pp

FY2025

Diluted EPS

$1.53 +45.7%

FY2025

Operating Cash Flow

$1.99B -10.3%

FY2025

Chart any reported metric, KPI or segment over time — the full statement history lives here

Income Statement Balance Sheet Cash Flow All Metrics

Annual Quarterly

Line Item	3Y	5Y	10Y	TTM	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018	FY2017	FY2016	FY2015	FY2014	FY2013	FY2012	FY2011	FY2010	FY2009	FY2008
Revenue	+5.7%	+7.4%	+10.2%	$16.94B	$16.6B	$15.35B	$14.81B	$14.06B	$12.68B	$11.62B	$11.12B	$7.44B	$6.69B	$6.44B	$6.28B	$6.12B	$6B	$6B	$5.9B	$5.64B	$5.53B	$5.71B
Net Interest Income	—	—	—	—	—	—	—	—	—	—	-$654M	-$401M	-$161M	-$144M	-$115M	-$107M	-$121M	-$123M	-$111M	-$125M	-$239M	-$225M
Cost of Revenue	+4.1%	+8.2%	+11.5%	$7.83B	$7.6B	$6.82B	$6.73B	$6.73B	$5.71B	$5.13B	$4.78B	$3.56B	$2.7B	$2.58B	$2.56B	$2.49B	$2.5B	$2.5B	$2.49B	$2.24B	$2.23B	$2.59B
Gross Profit	+7.1%	+6.8%	+9.2%	$9.11B	$9B	$8.53B	$8.08B	$7.32B	$6.98B	$6.49B	$6.34B	$3.88B	$4B	$3.86B	$3.72B	$3.63B	$3.5B	$3.5B	$3.42B	$3.39B	$3.3B	$3.12B
Gross Margin	—	—	—	—	54.2%	55.56%	54.54%	52.1%	55.01%	55.83%	57.03%	52.16%	59.72%	59.91%	59.26%	59.3%	58.33%	58.3%	57.9%	60.2%	59.61%	54.64%
Research & Development	+2.5%	+0.3%	+13.9%	—	$70M	$70M	$66M	$65M	$66M	$69M	$81M	$64M	$20M	$20M	$19M	$18M	$21M	$21M	$15M	$16M	$15M	$17M
Selling, General & Administrative	+4.8%	+6.1%	+8.7%	$5.5B	$5.35B	$5.01B	$4.91B	$4.65B	$4.15B	$3.98B	$3.96B	$2.64B	$2.56B	$2.33B	$2.31B	$2.33B	$2.27B	$2.27B	$2.26B	$2.23B	$2.14B	$2.08B
Amortization of Intangibles	0.0%	+0.7%	+36.8%	$141M	$138M	$133M	$137M	$138M	$134M	$133M	$126M	$121M	$7M	$3M	$6M	$5M	$7M	$5M	$9M	$16M	—	—
Depreciation & Amortization	-3.9%	-3.8%	—	$107M	—	—	—	—	—	—	—	—	$102M	$99M	$105M	$115M	$115M	$124M	$126M	$127M	$117M	$113M
Restructuring Charges	-28.5%	-20.6%	—	—	$63M	$91M	$35M	$172M	$202M	$200M	$233M	$170M	—	—	—	—	$7M	—	—	$0	$0	$57M
Operating Income	+11.1%	+7.6%	+10.7%	$3.53B	$3.58B	$2.59B	$3.19B	$2.61B	$2.89B	$2.48B	$2.38B	$1.24B	$1.39B	$1.43B	$1.3B	$1.18B	$1.05B	$1.09B	$1.02B	$1.03B	$1.09B	-$168M
Operating Margin	—	—	—	—	21.53%	16.88%	21.55%	18.53%	22.82%	21.35%	21.38%	16.62%	20.75%	22.25%	20.66%	19.28%	17.44%	18.22%	17.35%	18.19%	19.62%	-2.94%
EBITDA	+4.8%	+4.1%	—	$919M	—	—	—	—	—	—	—	—	$1.49B	$1.53B	$1.4B	$1.3B	$1.16B	$1.22B	$1.15B	$1.15B	$1.2B	-$55M
Interest Expense	-6.4%	+4.3%	+15.0%	—	—	—	$496M	$693M	$500M	$604M	$654M	$401M	$164M	$147M	$117M	$109M	$123M	$125M	$114M	$128M	$243M	$257M
Interest Income	+14.5%	+8.4%	—	$2M	—	—	—	—	—	—	—	—	$3M	$3M	$2M	$2M	$2M	$2M	$3M	$3M	$4M	$32M
Other Non-Operating Income	—	—	—	-$259M	-$134M	$58M	$61M	-$14M	$2M	-$17M	-$19M	$19M	$8M	$25M	$1M	$0	-$383M	$9M	$12M	$21M	$22M	$18M
Equity in Earnings of Unconsolidated Entities	—	—	—	—	$81M	$42M	$33M	-$5M	-$5M	-$20M	-$51M	-$17M	-$2M	-$2M	$0	$1M	$1M	$0	$1M	$1M	$2M	$2M
Pretax Income	+16.1%	+8.9%	+8.5%	$2.38B	$2.69B	$1.91B	$2.76B	$1.72B	$2.8B	$1.75B	$1.69B	$791M	$1.17B	$1.28B	$1.18B	$1.07B	$542M	$978M	$925M	$821M	$868M	-$375M
Income Tax	+28.9%	+7.3%	+3.8%	$552M	$608M	$473M	$576M	$284M	$653M	$428M	$440M	$202M	$95M	$434M	$420M	$371M	-$81M	$349M	$320M	$294M	$315M	-$61M
Net Income	+13.1%	+9.4%	+10.5%	$1.83B	$2.08B	$1.44B	$2.18B	$1.44B	$2.15B	$1.33B	$1.25B	$586M	$1.08B	$847M	$764M	$703M	$624M	$629M	$606M	$528M	$555M	-$312M
Net Margin	—	—	—	—	12.52%	9.39%	14.72%	10.22%	16.92%	11.4%	11.28%	7.87%	16.08%	13.15%	12.16%	11.49%	10.41%	10.49%	10.27%	9.37%	10.03%	-5.46%
Net Income Attributable to Noncontrolling Interests	—	—	—	—	—	$0	$2.18B	-$1M	-$1M	$0	$0	$3M	—	—	—	—	—	—	—	—	—	—
Comprehensive Income	+15.6%	+13.6%	+13.3%	$1.99B	$2.46B	$850M	$2.37B	$1.59B	$2.04B	$1.3B	$1.49B	$357M	$1.1B	$813M	$706M	$654M	$646M	$629M	$524M	$559M	—	—
EPS (Basic) USD/shares	+14.8%	+10.2%	-9.2%	—	$1.53	$1.06	$1.56	$1.01	$1.52	$0.94	$0.89	$0.54	$5.91	$4.57	$4.00	$3.59	$3.08	$2.99	$2.77	$2.19	$2.18	-$1.23
EPS (Diluted) USD/shares	+14.8%	+10.5%	-9.1%	—	$1.53	$1.05	$1.55	$1.01	$1.50	$0.93	$0.88	$0.53	$5.89	$4.54	$3.97	$3.56	$3.05	$2.96	$2.74	$2.17	$2.17	-$1.23
Shares Outstanding (Basic Avg) shares	-1.4%	-0.7%	+21.7%	—	1.36B	1.36B	1.4B	1.42B	1.42B	1.41B	1.41B	1.09B	182M	185.4M	190.9M	195.8M	202.9M	210.6M	218.7M	240.4M	254.2M	254M
Shares Outstanding (Diluted Avg) shares	-1.6%	-0.8%	+21.6%	—	1.36B	1.37B	1.41B	1.43B	1.43B	1.42B	1.42B	1.1B	182.8M	186.6M	192.4M	197.4M	204.5M	212.3M	221.2M	242.6M	255.2M	254M

Italic rows are computed from reported lines — open a row's info icon for its formula. Values reflect the latest filing (restatements included); per-share figures on today's split basis. Click a value for its source filing. TTM: trailing twelve months through the latest reported quarter — flows sum the last four quarters, balances take the latest. 3Y/5Y/10Y columns are trailing CAGR from the newest fiscal year; blank where an endpoint is missing or negative.

Capital Returned to Shareholders

Cash spent on share repurchases and dividends per fiscal year, as reported on the cash-flow statement. Across FY2008–FY2025: $6.48B in buybacks, $10.05B in dividends.

Price & Valuation

Multiples computed on the strict TTM/EV methodology — today's snapshot against the industry, and each ratio recomputed as of past filing dates.

Valuation

EV/Revenue

3.85×

Beverages - Non-Alcoholic median 2.14×

EV/EBIT

18.46×

Beverages - Non-Alcoholic median 22.08×

P/E (TTM)

21.98×

Beverages - Non-Alcoholic median 39.14×

Valuation over time computed as of each quarter's filing date

Revenue Breakdown

Annual revenue as the company disaggregates it in its own XBRL filings. Years a component wasn't reported show a dash.

Share mode is each component's slice of the reported components that year — issuers rarely tag every revenue dollar, so slices need not sum to total revenue.

By Segment (USD)

Component	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
U.S. Refreshment Beverages	$10,439,000,000	$9,331,000,000	$8,821,000,000	—	—	—	—	—
U.S. Coffee	$3,990,000,000	$3,967,000,000	$4,071,000,000	—	—	—	—	—
International	$2,174,000,000	$2,053,000,000	$1,922,000,000	—	—	—	—	—
Beverage Concentrates	—	—	—	$1,725,000,000	$1,486,000,000	$1,325,000,000	$1,414,000,000	$669,000,000
Coffee Systems	—	—	—	$4,982,000,000	$4,716,000,000	$4,433,000,000	$4,233,000,000	$4,114,000,000
Latin America Beverages	—	—	—	$743,000,000	$599,000,000	$497,000,000	$528,000,000	$244,000,000
Packaged Beverages	—	—	—	$6,607,000,000	$5,882,000,000	$5,363,000,000	$4,945,000,000	$2,415,000,000

By Geography (USD)

Component	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
United States	$14,502,000,000	$13,368,000,000	$12,961,000,000	$12,454,000,000	$11,267,000,000	$10,318,000,000	$9,843,000,000	$6,608,000,000
Non Us	$2,101,000,000	$1,983,000,000	$1,853,000,000	$1,603,000,000	$1,416,000,000	$1,300,000,000	$1,277,000,000	$834,000,000

By Product & Service (USD)

Component	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
LRB	$11,602,000,000	$10,566,000,000	$9,905,000,000	$8,938,000,000	$7,830,000,000	—	—	—
K-Cup Pods	$3,777,000,000	$3,614,000,000	$3,684,000,000	$3,772,000,000	$3,546,000,000	—	—	—
Appliances	$646,000,000	$772,000,000	$799,000,000	$923,000,000	$907,000,000	$850,000,000	$723,000,000	$643,000,000
Other Net Sales	$578,000,000	$399,000,000	$426,000,000	$424,000,000	$400,000,000	—	—	—
CSD	—	—	—	—	—	$4,154,000,000	$3,984,000,000	$1,914,000,000
NCB	—	—	—	—	—	$2,622,000,000	$2,476,000,000	$1,228,000,000
Other Products	—	—	—	—	—	$623,000,000	$644,000,000	$408,000,000
Pods	—	—	—	—	—	$3,369,000,000	$3,293,000,000	$3,249,000,000

Segment Operating Income

Annual operating income by business segment, as tagged in the company's own XBRL filings. Segments need not sum to the consolidated figure — corporate costs and eliminations are typically unallocated.

By Segment (USD)

Component	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
U.S. Refreshment Beverages	$2,939,000,000	$1,878,000,000	$2,483,000,000	$1,961,000,000	$1,961,000,000	—	—	—
U.S. Coffee	$962,000,000	$1,079,000,000	$1,158,000,000	$1,215,000,000	$1,306,000,000	—	—	—
International	$546,000,000	$545,000,000	$475,000,000	$373,000,000	$382,000,000	—	—	—
Beverage Concentrates	—	—	—	$1,061,000,000	$1,047,000,000	$935,000,000	$955,000,000	$430,000,000
Coffee Systems	—	—	—	$1,316,000,000	$1,446,000,000	$1,398,000,000	$1,219,000,000	$1,163,000,000
Latin America Beverages	—	—	—	$158,000,000	$133,000,000	$105,000,000	$85,000,000	$29,000,000
Packaged Beverages	—	—	—	$1,014,000,000	$1,023,000,000	$835,000,000	$757,000,000	$257,000,000
Corporate Non Segment	—	—	—	—	—	—	-$638,000,000	—

Operating Margin by Segment (%)

Component	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
U.S. Refreshment Beverages	28.2%	20.1%	28.1%	—	—	—	—	—
U.S. Coffee	24.1%	27.2%	28.4%	—	—	—	—	—
International	25.1%	26.5%	24.7%	—	—	—	—	—
Beverage Concentrates	—	—	—	61.5%	70.5%	70.6%	67.5%	64.3%
Coffee Systems	—	—	—	26.4%	30.7%	31.5%	28.8%	28.3%
Latin America Beverages	—	—	—	21.3%	22.2%	21.1%	16.1%	11.9%
Packaged Beverages	—	—	—	15.3%	17.4%	15.6%	15.3%	10.6%

Key facts CIK 1418135 CUSIP 49271V100 13F (30d) 174 filings 171 filers Visit website Investor relations