Keurig Dr Pepper (KDP)

Nasdaq Consumer Staples Soft Drinks & Non-alcoholic Beverages S&P 500Nasdaq-100

$36.63

-0.26 (-0.70%)

Close of Nov 06, 2026 · end-of-day data

Source: Keurig Dr Pepper's 10-K / 10-Q XBRL data on SEC EDGAR · fetched Nov 05, 2026

Revenue, net income & free cash flow

Income statement

fiscal years · USD

Fiscal year	FY2017	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Revenue	$4.27B	$6.69B	$7.44B	$11.12B	$11.62B	$12.68B	$14.06B	$14.81B	$15.35B	$16.60B
Cost of revenue	$2.23B	$2.69B	$3.56B	$4.78B	$5.13B	$5.71B	$6.73B	$6.73B	$6.82B	$7.60B
Gross profit	$2.04B	$4.00B	$3.88B	$6.34B	$6.49B	$6.98B	$7.32B	$8.08B	$8.53B	$9.00B
Research & development	$56.00M	$20.00M	$64.00M	$81.00M	$69.00M	$66.00M	$65.00M	$66.00M	$70.00M	$70.00M
Selling, general & admin	$1.15B	$2.56B	$2.63B	$3.96B	$3.98B	$4.15B	$4.64B	$4.91B	$5.01B	$5.35B
Operating income	$897.00M	$1.39B	$1.24B	$2.38B	$2.48B	$2.89B	$2.60B	$3.19B	$2.59B	$3.58B
Interest expense	$101.00M	$164.00M	$401.00M	$654.00M	$604.00M	$500.00M	$693.00M	$496.00M	—	—
Pre-tax income	$567.00M	$1.17B	$791.00M	$1.69B	$1.75B	$2.80B	$1.72B	$2.76B	$1.91B	$2.69B
Income tax	$184.00M	$95.00M	$202.00M	$440.00M	$428.00M	$653.00M	$284.00M	$576.00M	$473.00M	$608.00M
Net income	$378.00M	$1.08B	$586.00M	$1.25B	$1.32B	$2.15B	$1.44B	$2.18B	$1.44B	$2.08B
EBITDA	$1.04B	$1.49B	$1.47B	$2.74B	$2.84B	$3.30B	$3.00B	$3.59B	$3.01B	$4.03B
EPS (basic)	$0.48	$5.91	$0.54	$0.89	$0.94	$1.52	$1.01	$1.56	$1.06	$1.53
EPS (diluted)	$0.47	$5.89	$0.53	$0.88	$0.93	$1.50	$1.01	$1.55	$1.05	$1.53
Diluted shares	790.50M	182.80M	1.10B	1.42B	1.42B	1.43B	1.43B	1.41B	1.37B	1.36B
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%

Balance sheet

fiscal years · USD

Fiscal year	FY2017	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Cash & equivalents	$66.00M	$90.00M	$83.00M	$75.00M	$240.00M	$567.00M	$535.00M	$267.00M	$510.00M	$1.03B
Receivables	$447.00M	$483.00M	$1.15B	$1.11B	$1.05B	$1.15B	$1.48B	$1.37B	$1.50B	$1.67B
Inventory	$474.00M	$384.00M	$626.00M	$654.00M	$762.00M	$894.00M	$1.31B	$1.14B	$1.30B	$1.73B
Total current assets	$1.39B	$1.06B	$2.16B	$2.27B	$2.39B	$3.06B	$3.80B	$3.38B	$4.00B	$5.27B
Goodwill	$9.83B	$9.82B	$20.01B	$20.17B	$20.18B	$20.18B	$20.07B	$20.20B	$20.05B	$20.25B
Total assets	$16.11B	$15.74B	$48.92B	$49.52B	$49.78B	$50.60B	$51.84B	$52.13B	$53.43B	$55.46B
Total current liabilities	$1.91B	$2.02B	$5.70B	$6.47B	$7.69B	$6.49B	$8.08B	$8.92B	$8.09B	$8.29B
Short-term debt	$82.00M	$219.00M	$1.46B	$1.59B	$2.35B	$304.00M	$895.00M	$3.25B	$2.64B	$3.10B
Long-term debt	$3.66B	$4.88B	$14.20B	$12.83B	$11.14B	$11.58B	$11.07B	$9.95B	$12.91B	$13.04B
Total debt	$3.74B	$5.10B	$15.66B	$14.42B	$13.49B	$11.88B	$11.97B	$13.19B	$15.55B	$16.14B
Total liabilities	$9.06B	$8.08B	$26.39B	$26.26B	$25.95B	$25.63B	$26.71B	$26.45B	$29.19B	$29.94B
Shareholders' equity	$6.83B	$7.40B	$22.53B	$23.26B	$23.83B	$24.97B	$25.13B	$25.68B	$24.24B	$25.52B

Cash flow

fiscal years · USD

Fiscal year	FY2017	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Operating cash flow	$1.75B	$1.04B	$1.61B	$2.47B	$2.46B	$2.87B	$2.84B	$1.33B	$2.22B	$1.99B
Capital expenditures	$66.00M	$202.00M	$180.00M	$330.00M	$461.00M	$423.00M	$353.00M	$425.00M	$563.00M	$486.00M
Free cash flow	$1.68B	$836.00M	$1.43B	$2.14B	$2.00B	$2.45B	$2.48B	$904.00M	$1.66B	$1.50B
Investing cash flow	$180.00M	-$1.76B	-$19.13B	-$150.00M	-$316.00M	$210.00M	-$1.14B	-$784.00M	-$1.61B	-$573.00M
Financing cash flow	-$2.03B	-$907.00M	$17.58B	-$2.36B	-$1.99B	-$2.76B	-$1.73B	-$832.00M	-$223.00M	-$999.00M
Dividends paid	$55.00M	$414.00M	$232.00M	$844.00M	$846.00M	$955.00M	$1.08B	$1.14B	$1.19B	$1.25B
Share buybacks	—	$399.00M	—	—	$0	$0	$379.00M	$706.00M	$1.11B	$9.00M
Stock-based compensation	$58.00M	$36.00M	$35.00M	$64.00M	$85.00M	$88.00M	$52.00M	$116.00M	$98.00M	$97.00M
Depreciation & amortization	$142.00M	$102.00M	$233.00M	$358.00M	$362.00M	$410.00M	$399.00M	$402.00M	$422.00M	$455.00M

Income statement

quarters · USD

Quarter ended	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
Revenue	$3.81B	$3.87B	$3.47B	$3.92B	$3.89B	$4.07B	$3.63B	$4.16B	$4.31B	$4.50B	$3.98B	$7.31B
Cost of revenue	$1.69B	$1.68B	$1.53B	$1.75B	$1.75B	$1.79B	$1.65B	$1.91B	$1.97B	$2.08B	$1.88B	$4.24B
Gross profit	$2.11B	$2.18B	$1.94B	$2.17B	$2.14B	$2.28B	$1.99B	$2.25B	$2.34B	$2.42B	$2.10B	$3.07B
Selling, general & admin	$1.22B	$1.26B	$1.18B	$1.29B	$1.25B	$1.30B	$1.19B	$1.36B	$1.34B	$1.46B	$1.34B	$2.40B
Operating income	$896.00M	$943.00M	$765.00M	$861.00M	$902.00M	$63.00M	$801.00M	$898.00M	$995.00M	$881.00M	$756.00M	$628.00M
Pre-tax income	$664.00M	$899.00M	$594.00M	$672.00M	$802.00M	-$154.00M	$660.00M	$718.00M	$852.00M	$457.00M	$357.00M	$305.00M
Income tax	$146.00M	$206.00M	$140.00M	$157.00M	$186.00M	-$10.00M	$143.00M	$171.00M	$190.00M	$104.00M	$87.00M	$95.00M
Net income	$518.00M	$693.00M	$454.00M	$515.00M	$616.00M	-$144.00M	$517.00M	$547.00M	$662.00M	$353.00M	$270.00M	$142.00M
EBITDA	$994.00M	$1.05B	$866.00M	$967.00M	$1.00B	$175.00M	$907.00M	$1.01B	$1.11B	$1.00B	$870.00M	$836.00M
EPS (basic)	$0.37	$0.50	$0.33	$0.38	$0.45	$-0.10	$0.38	$0.40	$0.49	$0.26	$0.20	$0.04
EPS (diluted)	$0.37	$0.50	$0.33	$0.38	$0.45	$-0.11	$0.38	$0.40	$0.49	$0.26	$0.20	$0.04
Diluted shares	1.41B	-2.40M	1.39B	1.36B	1.36B	-2.10M	1.36B	1.36B	1.36B	100.00K	1.36B	1.36B
Gross margin	55.5%	56.5%	55.9%	55.4%	55.0%	55.9%	54.6%	54.2%	54.3%	53.8%	52.8%	41.9%
Operating margin	23.5%	24.4%	22.1%	22.0%	23.2%	1.5%	22.0%	21.6%	23.1%	19.6%	19.0%	8.6%
Net margin	13.6%	17.9%	13.1%	13.1%	15.8%	-3.5%	14.2%	13.1%	15.4%	7.8%	6.8%	1.9%

Balance sheet

quarters · USD

Quarter ended	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
Cash & equivalents	$260.00M	$267.00M	$317.00M	$438.00M	$552.00M	$510.00M	$653.00M	$509.00M	$516.00M	$1.03B	$898.00M	$1.52B
Receivables	$1.28B	$1.37B	$1.31B	$1.39B	$1.45B	$1.50B	$1.33B	$1.50B	$1.50B	$1.67B	$1.54B	$2.42B
Inventory	$1.35B	$1.14B	$1.20B	$1.25B	$1.35B	$1.30B	$1.54B	$1.74B	$1.84B	$1.73B	$1.83B	$3.86B
Total current assets	$3.41B	$3.38B	$3.57B	$3.82B	$4.10B	$4.00B	$4.35B	$4.61B	$4.70B	$5.27B	$23.13B	$9.46B
Goodwill	$20.12B	$20.20B	$20.16B	$20.08B	$20.08B	$20.05B	$20.06B	$20.23B	$20.20B	$20.25B	$20.21B	$29.76B
Total assets	$51.76B	$52.13B	$52.29B	$52.34B	$52.72B	$53.43B	$53.70B	$54.37B	$54.60B	$55.46B	$73.14B	$87.62B
Total current liabilities	$8.81B	$8.92B	$7.00B	$7.51B	$7.70B	$8.09B	$9.17B	$7.22B	$7.53B	$8.29B	$10.03B	$19.74B
Short-term debt	$2.80B	$3.25B	$1.91B	$2.40B	$2.47B	$2.64B	$4.00B	$1.98B	$2.29B	$3.10B	$4.82B	$8.39B
Long-term debt	$9.94B	$9.95B	$12.93B	$12.41B	$12.41B	$12.91B	$11.93B	$13.92B	$13.53B	$13.04B	$20.89B	$21.59B
Total debt	$12.74B	$13.19B	$14.84B	$14.80B	$14.88B	$15.55B	$15.93B	$15.90B	$15.82B	$16.14B	$25.71B	$29.98B
Total liabilities	$26.40B	$26.45B	$27.63B	$27.63B	$27.75B	$29.19B	$29.25B	$29.38B	$29.28B	$29.94B	$39.54B	$53.97B
Shareholders' equity	$25.36B	$25.68B	$24.65B	$24.72B	$24.97B	$24.24B	$24.45B	$24.98B	$25.32B	$25.52B	$25.26B	$25.03B

Cash flow

quarters · USD

Quarter ended	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
Operating cash flow	$580.00M	$297.00M	$85.00M	$657.00M	$628.00M	$849.00M	$209.00M	$431.00M	$639.00M	$712.00M	$281.00M	$895.00M
Capital expenditures	$122.00M	$154.00M	$158.00M	$115.00M	$125.00M	$165.00M	$120.00M	$106.00M	$112.00M	$148.00M	$116.00M	$181.00M
Free cash flow	$458.00M	$143.00M	-$73.00M	$542.00M	$503.00M	$684.00M	$89.00M	$325.00M	$527.00M	$564.00M	$165.00M	$714.00M
Investing cash flow	-$420.00M	-$161.00M	-$193.00M	-$136.00M	-$209.00M	-$1.08B	-$57.00M	-$221.00M	-$112.00M	-$183.00M	-$98.00M	-$16.80B
Financing cash flow	-$174.00M	-$135.00M	$158.00M	-$380.00M	-$282.00M	$281.00M	-$7.00M	-$402.00M	-$525.00M	-$65.00M	$17.64B	-$1.09B
Dividends paid	$279.00M	$300.00M	$299.00M	$292.00M	$292.00M	$311.00M	$312.00M	$313.00M	$312.00M	$313.00M	$312.00M	—
Share buybacks	$0	$249.00M	$1.10B	$0	$0	$5.00M	$0	$9.00M	$0	$0	—	—
Stock-based compensation	$29.00M	$30.00M	$28.00M	$24.00M	$24.00M	$22.00M	$22.00M	$23.00M	$25.00M	$27.00M	$30.00M	$32.00M
Depreciation & amortization	$98.00M	$103.00M	$101.00M	$106.00M	$103.00M	$112.00M	$106.00M	$111.00M	$119.00M	$119.00M	$114.00M	$208.00M

Quarterly figures are rebuilt from the year-to-date totals companies report — Q4 is the full year minus the first nine months, since no 10-Q is filed for it. Values are as filed; later restatements replace earlier ones. Fiscal years are labelled by the calendar year in which they end.