Sunday 11 October 2026
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Keurig Dr Pepper, Inc
KDP Consumer Defensive Beverages Non Alcoholic
Keurig Dr Pepper, Inc’s revenue for fiscal 2025 (year ended December 2025) was $16.6 billion, up 8.16% from fiscal 2024. In the quarter to June 2026, revenue grew 75.6%, EPS fell 90.0%, free cash flow grew 120.4% and total debt rose 115.4%, each against the same quarter a year earlier. Member of the S&P 500 and Nasdaq 100; dividend growth for five consecutive years, revenue growth for five; insiders bought in the last twelve months.
31.76
0.50
+1.60%
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Target Price Range
Analyst price targets
Free accountTen years at a glance Fiscal years to December
| Group | Line | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Trend | 2026e | 2027e | 2028e |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Price, $ | |||||||||||||||
| Price, $ | Low | 81.05 | 81.70 | 20.46 | 24.86 | 18.98 | 30.28 | 33.35 | 27.66 | 28.62 | 25.03 |
Analyst estimates 2026–2028 Powerpack |
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| High | 98.80 | 99.47 | 126.65 | 32.00 | 32.24 | 37.11 | 41.31 | 36.56 | 38.28 | 36.12 | |||||
| People | |||||||||||||||
| People | Employees | 20,000 | 21,000 | 25,500 | 25,500 | 27,000 | 27,500 | 28,000 | 21,700 | 29,400 | 30,600 | ||||
| Revenue/emp, $m | 0.32 | 0.32 | 0.29 | 0.44 | 0.43 | 0.46 | 0.50 | 0.68 | 0.52 | 0.54 | |||||
| Income, $m | |||||||||||||||
| Income, $m | Revenue | 6,440 | 6,690 | 7,442 | 11,120 | 11,618 | 12,683 | 14,057 | 14,814 | 15,351 | 16,603 | ||||
| Gross margin, % | 59.91 | 59.72 | 52.16 | 57.03 | 55.83 | 55.01 | 52.10 | 54.54 | 55.56 | 54.20 | |||||
| EBT | 1,283 | 1,173 | 791 | 1,694 | 1,753 | 2,798 | 1,719 | 2,757 | 1,914 | 2,687 | |||||
| EBT margin, % | 19.92 | 17.53 | 10.63 | 15.23 | 15.09 | 22.06 | 12.23 | 18.61 | 12.47 | 16.18 | |||||
| Net income | 847 | 1,076 | 589 | 1,254 | 1,325 | 2,146 | 1,436 | 2,181 | 1,441 | 2,079 | |||||
| Depreciation | 160 | 165 | 434 | 658 | 653 | 708 | 709 | 720 | 1,039 | 753 | |||||
| Per share, $ | |||||||||||||||
| Per share, $ | Revenue | 34.74 | 36.76 | 6.85 | 7.91 | 8.26 | 8.96 | 9.92 | 10.59 | 11.27 | 12.23 | ||||
| Earnings | 4.57 | 5.91 | 0.54 | 0.89 | 0.94 | 1.52 | 1.01 | 1.56 | 1.06 | 1.53 | |||||
| Cash flow | 5.18 | 5.70 | 1.48 | 1.76 | 1.75 | 2.03 | 2.00 | 0.95 | 1.63 | 1.47 | |||||
| Capex | (0.94) | (1.09) | (0.16) | (0.08) | (0.22) | (0.24) | (0.15) | (0.34) | (0.45) | (0.36) | |||||
| Free cash flow | 4.24 | 4.61 | 1.32 | 1.67 | 1.52 | 1.79 | 1.85 | 0.61 | 1.18 | 1.11 | |||||
| Book value | 11.51 | 40.65 | 20.74 | 16.53 | 16.93 | 17.64 | 17.73 | 18.35 | 17.80 | 18.79 | |||||
| Shares, m | 185 | 182 | 1,086 | 1,407 | 1,407 | 1,416 | 1,417 | 1,399 | 1,362 | 1,358 | |||||
| Valuation, × | |||||||||||||||
| Valuation, × | P/E | 19.88 | 19.18 | 49.30 | 32.53 | 34.41 | 24.41 | 35.20 | 21.39 | 30.59 | 18.31 | ||||
| P/S | 2.62 | 2.59 | 3.74 | 3.66 | 3.88 | 4.11 | 3.58 | 3.15 | 2.85 | 2.29 | |||||
| P/B | 7.89 | 2.34 | 1.24 | 1.75 | 1.89 | 2.09 | 2.00 | 1.82 | 1.80 | 1.49 | |||||
| EV/Sales | 3.03 | 3.32 | 5.63 | 4.99 | 5.04 | 5.03 | 4.42 | 4.02 | 3.83 | 3.17 | |||||
| EV/FCF | 24.84 | 26.67 | 29.57 | 23.55 | 27.33 | 25.11 | 23.66 | 69.57 | 36.68 | 35.07 | |||||
| Cash, $m | |||||||||||||||
| Cash, $m | Operating cash flow | 961 | 1,038 | 1,613 | 2,474 | 2,456 | 2,874 | 2,837 | 1,329 | 2,219 | 1,991 | ||||
| Capex | (174) | (199) | (177) | (118) | (314) | (333) | (211) | (472) | (618) | (489) | |||||
| Free cash flow | 787 | 839 | 1,436 | 2,356 | 2,142 | 2,541 | 2,626 | 857 | 1,601 | 1,502 | |||||
| Balance, $m | |||||||||||||||
| Balance, $m | Working capital | 1,685 | (962) | (3,543) | (4,201) | (5,306) | (3,428) | (4,272) | (5,541) | (4,090) | (3,024) | ||||
| Total debt | 4,478 | 5,055 | 16,211 | 14,851 | 13,757 | 12,179 | 12,299 | 13,191 | 15,554 | 13,036 | |||||
| Net debt | 2,691 | 4,960 | 16,082 | 14,750 | 13,502 | 11,611 | 11,764 | 12,924 | 14,964 | 11,992 | |||||
| Shareholders’ equity | 2,134 | 7,398 | 22,533 | 23,257 | 23,830 | 24,972 | 25,125 | 25,676 | 24,243 | 25,516 | |||||
| Returns, % | |||||||||||||||
| Returns, % | ROA | 9.08 | 8.43 | 1.81 | 2.55 | 2.67 | 4.28 | 2.80 | 4.20 | 2.73 | 3.82 | ||||
| ROIC | 18.56 | 7.02 | 2.00 | 3.91 | 4.15 | 4.94 | 4.41 | 5.17 | 4.13 | 5.96 | |||||
| ROE | 39.24 | 22.58 | 3.92 | 5.48 | 5.63 | 8.79 | 5.73 | 8.59 | 5.77 | 8.36 | |||||
Negative figures in brackets.
Fiscal years to Dec 2025 · latest quarter Jun 2026 · fundamentals updated 28 Sep 2026
Charts ten years each
Keurig Dr Pepper, Inc vs peers in Beverages Non Alcoholic (Q) = latest quarter vs a year earlier
| Company | Market cap | P/E | Fwd P/E | Revenue growth (Q) | EPS growth (Q) | FCF growth (Q) | Gross margin (Q) | EBIT margin (Q) | Compare |
|---|---|---|---|---|---|---|---|---|---|
| KO CocaCola Company (The) | $377.6B | 26.4× | 24.2× | +6.74% (above 0%: growing) | +15.73% (above 0%: growing) | +51.42% (above 0%: growing) | 62.89% | 34.92% | Compare |
| PEP PepsiCo, Inc. | $175.2B | 16.5× | 17.5× | +5.59% (above 0%: growing) | +136.96% (above 0%: growing) | +41.83% (above 0%: growing) | 54.42% | 16.86% | Compare |
| MNST Monster Beverage Corporation | $85.5B | 40.0× | 39.7× | +20.17% (above 0%: growing) | +20.00% (above 0%: growing) | +8.01% (above 0%: growing) | 55.95% | 29.18% | Compare |
| CCEP Coca-Cola Europacific Partners | $45.9B | 14.2× | 18.7× | +36.01% (above 0%: growing) | +209.23% (above 0%: growing) | −33.36% (below 0%: shrinking) | 35.80% | 0.00% | Compare |
| KDP Keurig Dr Pepper, Inc | $42.5B | 32.1× | 15.0× | +75.57% (above 0%: growing) | −90.00% (below 0%: shrinking) | +120.43% (above 0%: growing) | 41.95% | 8.59% | |
| COKE Coca-Cola Consolidated, Inc. | $12.8B | 26.1× | — (loss-making) | +10.61% (above 0%: growing) | +11.16% (above 0%: growing) | −15.07% (below 0%: shrinking) | 37.93% | 13.22% | Compare |
| CELH Celsius Holdings Inc. | $6.9B | 119× | 18.9× | +10.64% (above 0%: growing) | −57.58% (below 0%: shrinking) | +479.43% (above 0%: growing) | 48.13% | 9.20% | Compare |
| KOF Coca Cola Femsa S.A.B. de C.V. | $5.8B | 17.3× | 15.7× | +17.31% (above 0%: growing) | +30.77% (above 0%: growing) | −24.76% (below 0%: shrinking) | 47.09% | 13.96% | Compare |
| COCO Vita Coco Company, Inc. | $3.2B | 30.6× | 43.2× | +28.08% (above 0%: growing) | +115.00% (above 0%: growing) | +287.22% (above 0%: growing) | 48.72% | 29.21% | Compare |
| Median of peers | $29.4B | 26.3× | 18.9× | +13.97% | +25.39% | +24.92% | 48.43% | 15.41% |
KDP metrics, ten years each
- Revenue
- Net income
- EPS (diluted)
- EBITDA
- Free cash flow
- Operating cash flow
- Gross margin
- Operating margin
- Net margin
- Free cash flow margin
- P/E ratio
- P/S ratio
- P/B ratio
- Price to free cash flow
- EV/EBITDA
- EV/Sales
- EV/FCF
- Return on equity
- Return on assets
- Return on invested capital
- Debt to equity
- Current ratio
- Total debt
- Shares outstanding
- Book value per share
- Revenue growth
- Piotroski F-score
- Altman Z-score
- Beneish M-score
Keurig Dr Pepper, Inc (KDP) key facts
- Strength: Keurig Dr Pepper, Inc’s revenue for fiscal 2025 (year ended December 2025) was $16.6 billion, up 8.16% from fiscal 2024.
- Keurig Dr Pepper, Inc (KDP) is a Beverages Non Alcoholic company in the Consumer Defensive sector, listed on Nasdaq.
- As of October 9, 2026, KDP traded at $31.76, a market capitalization of $42.5 billion.
- Keurig Dr Pepper, Inc pays an annual dividend of $0.92 per share, a yield of 2.90%, with a payout ratio of 92.9%.
- Return on equity was 8.36% and debt-to-equity 1.03.
- Its Piotroski F-score is 7 out of 9 and its Altman Z-score is 1.35 (distress zone) for fiscal 2025.