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Stocks · Consumer staples · Beverages

Keurig Dr Pepper

KDP Clue Score53
United States Fiscal year ends December CIK 0001418135
$31.76 +1.60% Close, 9 Oct 2026
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Price $31.76 −9.59% Close, 9 Oct 2026

Closing prices at the end of each trading day, from 12 Oct 2016. Not a live quote. Adjusted for share splits, so the line has no step at a split; dividends are not added back. P/E and P/FCF are the market value over the last full fiscal year's net income or free cash flow, as public on each day, so they step once a year when the annual report comes out. A hatched band marks a stretch with none: a year of net loss, or of cash burnt.

Revenue and profit

What the business sells, and what is left of it. Point at a year for the detail.
RevenueOperating incomeNet income
Fiscal year 2017Revenue4.27Operating income0.90Net income0.38EPS, diluted0.47Fiscal year 2017Revenue6.69 +56.7%Operating income1.39Net income1.08 +184.7%EPS, diluted5.89Fiscal year 2018Revenue7.44 +11.2%Operating income1.24Net income0.59 −45.5%EPS, diluted0.53Fiscal year 2019Revenue11.12 +49.4%Operating income2.38Net income1.25 +114.0%EPS, diluted0.88Fiscal year 2020Revenue11.62 +4.5%Operating income2.48Net income1.33 +5.7%EPS, diluted0.93Fiscal year 2021Revenue12.68 +9.2%Operating income2.89Net income2.15 +62.0%EPS, diluted1.50Fiscal year 2022Revenue14.06 +10.8%Operating income2.61Net income1.44 −33.1%EPS, diluted1.01Fiscal year 2023Revenue14.81 +5.4%Operating income3.19Net income2.18 +51.9%EPS, diluted1.55Fiscal year 2024Revenue15.35 +3.6%Operating income2.59Net income1.44 −33.9%EPS, diluted1.05Fiscal year 2025Revenue16.60 +8.2%Operating income3.58Net income2.08 +44.3%EPS, diluted1.53
FY2017FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue 4.27 6.69 7.44 11.12 11.62 12.68 14.06 14.81 15.35 16.60
Growth +56.7% +11.2% +49.4% +4.5% +9.2% +10.8% +5.4% +3.6% +8.2%
Operating income 0.90 1.39 1.24 2.38 2.48 2.89 2.61 3.19 2.59 3.58
Net income 0.38 1.08 0.59 1.25 1.33 2.15 1.44 2.18 1.44 2.08
Growth +184.7% −45.5% +114.0% +5.7% +62.0% −33.1% +51.9% −33.9% +44.3%
EPS, diluted 0.47 5.89 0.53 0.88 0.93 1.50 1.01 1.55 1.05 1.53

Margins

How much of each dollar of revenue it keeps. Point at a year for the detail.
Gross marginOperating marginNet margin
Fiscal year 2017Gross margin47.9%Operating margin21.0%Net margin8.9%Free cash flow margin39.4%Fiscal year 2017Gross margin59.7%Operating margin20.7%Net margin16.1%Free cash flow margin12.5%Fiscal year 2018Gross margin52.2%Operating margin16.6%Net margin7.9%Free cash flow margin19.3%Fiscal year 2019Gross margin57.0%Operating margin21.4%Net margin11.3%Free cash flow margin19.3%Fiscal year 2020Gross margin55.8%Operating margin21.3%Net margin11.4%Free cash flow margin17.2%Fiscal year 2021Gross margin55.0%Operating margin22.8%Net margin16.9%Free cash flow margin19.3%Fiscal year 2022Gross margin52.1%Operating margin18.5%Net margin10.2%Free cash flow margin17.7%Fiscal year 2023Gross margin54.5%Operating margin21.5%Net margin14.7%Free cash flow margin6.1%Fiscal year 2024Gross margin55.6%Operating margin16.9%Net margin9.4%Free cash flow margin10.8%Fiscal year 2025Gross margin54.2%Operating margin21.5%Net margin12.5%Free cash flow margin9.1%
FY2017FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Gross margin 47.9% 59.7% 52.2% 57.0% 55.8% 55.0% 52.1% 54.5% 55.6% 54.2%
Operating margin 21.0% 20.7% 16.6% 21.4% 21.3% 22.8% 18.5% 21.5% 16.9% 21.5%
Net margin 8.9% 16.1% 7.9% 11.3% 11.4% 16.9% 10.2% 14.7% 9.4% 12.5%
Free cash flow margin 39.4% 12.5% 19.3% 19.3% 17.2% 19.3% 17.7% 6.1% 10.8% 9.1%

Cash flow

The cash the business makes, what it reinvests, and what it hands back. Point at a year for the detail.
Operating cash flowCapital expenditureFree cash flow
Fiscal year 2017Operating cash flow1.75Capital expenditure−0.07Free cash flow1.68Dividends paid−0.06Fiscal year 2017Operating cash flow1.04Capital expenditure−0.20Free cash flow0.84 −50.3%Buybacks−0.40Dividends paid−0.41Fiscal year 2018Operating cash flow1.61Capital expenditure−0.18Free cash flow1.43 +71.4%Dividends paid−0.23Fiscal year 2019Operating cash flow2.47Capital expenditure−0.33Free cash flow2.14 +49.6%Dividends paid−0.84Fiscal year 2020Operating cash flow2.46Capital expenditure−0.46Free cash flow2.00 −6.9%Buybacks0.00Dividends paid−0.85Fiscal year 2021Operating cash flow2.87Capital expenditure−0.42Free cash flow2.45 +22.9%Buybacks0.00Dividends paid−0.96Fiscal year 2022Operating cash flow2.84Capital expenditure−0.35Free cash flow2.48 +1.3%Buybacks−0.38Dividends paid−1.08Fiscal year 2023Operating cash flow1.33Capital expenditure−0.43Free cash flow0.90 −63.6%Buybacks−0.71Dividends paid−1.14Fiscal year 2024Operating cash flow2.22Capital expenditure−0.56Free cash flow1.66 +83.2%Buybacks−1.11Dividends paid−1.19Fiscal year 2025Operating cash flow1.99Capital expenditure−0.49Free cash flow1.51 −9.1%Buybacks−0.01Dividends paid−1.25
FY2017FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Operating cash flow 1.75 1.04 1.61 2.47 2.46 2.87 2.84 1.33 2.22 1.99
Capital expenditure −0.07 −0.20 −0.18 −0.33 −0.46 −0.42 −0.35 −0.43 −0.56 −0.49
Free cash flow 1.68 0.84 1.43 2.14 2.00 2.45 2.48 0.90 1.66 1.51
Growth −50.3% +71.4% +49.6% −6.9% +22.9% +1.3% −63.6% +83.2% −9.1%
Buybacks n/a −0.40 n/a n/a 0.00 0.00 −0.38 −0.71 −1.11 −0.01
Dividends paid −0.06 −0.41 −0.23 −0.84 −0.85 −0.96 −1.08 −1.14 −1.19 −1.25

Balance sheet

What it holds against what it owes, at each year end. Point at a year for the detail.
CashTotal debt
Fiscal year 2017Cash0.07Total debt3.88Net cash (debt)−3.81Shareholders’ equity6.83Debt to equity0.57Fiscal year 2017Cash0.09Total debt5.10Net cash (debt)−5.01Shareholders’ equity7.40Debt to equity0.69Fiscal year 2018Cash0.08Total debt14.58Net cash (debt)−14.50Shareholders’ equity22.53Debt to equity0.65Fiscal year 2019Cash0.08Total debt13.17Net cash (debt)−13.10Shareholders’ equity23.26Debt to equity0.57Fiscal year 2020Cash0.24Total debt13.49Net cash (debt)−13.25Shareholders’ equity23.83Debt to equity0.57Fiscal year 2021Cash0.57Total debt11.73Net cash (debt)−11.17Shareholders’ equity24.97Debt to equity0.47Fiscal year 2022Cash0.54Total debt11.57Net cash (debt)−11.03Shareholders’ equity25.13Debt to equity0.46Fiscal year 2023Cash0.27Total debt11.10Net cash (debt)−10.83Shareholders’ equity25.68Debt to equity0.43Fiscal year 2024Cash0.51Total debt13.94Net cash (debt)−13.43Shareholders’ equity24.24Debt to equity0.57Fiscal year 2025Cash1.03Total debt13.93Net cash (debt)−12.91Shareholders’ equity25.52Debt to equity0.55
FY2017FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Cash 0.07 0.09 0.08 0.08 0.24 0.57 0.54 0.27 0.51 1.03
Total debt 3.88 5.10 14.58 13.17 13.49 11.73 11.57 11.10 13.94 13.93
Net cash (debt) −3.81 −5.01 −14.50 −13.10 −13.25 −11.17 −11.03 −10.83 −13.43 −12.91
Shareholders’ equity 6.83 7.40 22.53 23.26 23.83 24.97 25.13 25.68 24.24 25.52
Debt to equity 0.57 0.69 0.65 0.57 0.57 0.47 0.46 0.43 0.57 0.55

In billions of USD, except per-share figures and ratios. Fiscal years, as last filed with the SEC.

Financial statements FY2025 · 10-K

Ratios

Percentages worked out from the filed figures; debt to equity in times. Fiscal years ending December, each column as last filed with the SEC.
Click a line to chart it
Fiscal year FY2016 31 Dec 2016 FY2017 30 Sep 2017 FY2017 31 Dec 2017 FY2018 31 Dec 2018 FY2019 31 Dec 2019 FY2020 31 Dec 2020 FY2021 31 Dec 2021 FY2022 31 Dec 2022 FY2023 31 Dec 2023 FY2024 31 Dec 2024 FY2025 31 Dec 2025
Margins
59.9% 47.9% 59.7% 52.2% 57.0% 55.8% 55.0% 52.1% 54.5% 55.6% 54.2%
22.3% 21.0% 20.7% 16.6% 21.4% 21.3% 22.8% 18.5% 21.5% 16.9% 21.5%
19.9% 13.3% 17.5% 10.6% 15.2% 15.1% 22.1% 12.2% 18.6% 12.5% 16.2%
13.2% 8.9% 16.1% 7.9% 11.3% 11.4% 16.9% 10.2% 14.7% 9.4% 12.5%
12.1% 39.4% 12.5% 19.3% 19.3% 17.2% 19.3% 17.7% 6.1% 10.8% 9.1%
Spending
0.3% 1.3% 0.3% 0.9% 0.7% 0.6% 0.5% 0.5% 0.4% 0.5% 0.4%
36.2% 26.9% 38.2% 35.4% 35.6% 34.2% 32.7% 33.0% 33.2% 32.7% 32.2%
2.8% 1.5% 3.0% 2.4% 3.0% 4.0% 3.3% 2.5% 2.9% 3.7% 2.9%
33.8% 32.5% 8.1% 25.5% 26.0% 24.4% 23.3% 16.5% 20.9% 24.7% 22.6%
Returns
39.7% 5.5% 14.5% 2.6% 5.4% 5.6% 8.6% 5.7% 8.5% 5.9% 8.1%
8.7% 2.3% 6.8% 1.2% 2.5% 2.7% 4.2% 2.8% 4.2% 2.7% 3.7%
Balance and payout
2.03 0.57 0.69 0.65 0.57 0.57 0.47 0.46 0.43 0.57 0.55
78.2% 56.2% 51.3% 53.9% 53.0% 52.1% 50.6% 51.5% 50.7% 54.6% 54.0%
45.6% 14.6% 38.5% 39.6% 67.3% 63.8% 44.5% 75.2% 52.4% 82.9% 60.1%
115.9% 3.3% 97.2% 16.2% 39.4% 42.4% 39.0% 58.7% 204.4% 139.1% 83.7%