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KDP

Keurig Dr Pepper Inc.

KDP

Keurig Dr Pepper Inc. • NASDAQ
$27.90 ▲ 0.79% (+0.22)
Market Cap $37.90 B
52w High $36.12
52w Low $25.03
Dividend Yield 0.92%
P/E 24.05
Volume 4.41M
Outstanding Shares 1.36B

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $4.306B ▲ $1.344B ▼ $662M ▲ 15.374% ▲ $0.49 ▲ $1.246B ▲
Q2-2025 $4.163B ▲ $1.357B ▲ $547M ▲ 13.14% ▼ $0.4 ▲ $1.083B ▲
Q1-2025 $3.635B ▼ $1.184B ▼ $517M ▲ 14.223% ▲ $0.38 ▲ $971M ▲
Q4-2024 $4.07B ▲ $2.214B ▲ $-144M ▼ -3.538% ▼ $-0.11 ▼ $276M ▼
Q3-2024 $3.891B $1.238B $616M 15.831% $0.45 $1.083B

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $516M ▲ $54.605B ▲ $29.281B ▼ $25.324B ▲
Q2-2025 $509M ▼ $54.368B ▲ $29.383B ▲ $24.985B ▲
Q1-2025 $653M ▲ $53.699B ▲ $29.252B ▲ $24.447B ▲
Q4-2024 $510M ▼ $53.43B ▲ $29.187B ▲ $24.243B ▼
Q3-2024 $552M $52.718B $27.749B $24.969B

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q2-2025 $547M ▲ $431M ▲ $-221M ▼ $-402M ▼ $-186M ▼ $323M ▲
Q1-2025 $517M ▲ $209M ▼ $-57M ▲ $-7M ▼ $143M ▲ $89M ▼
Q4-2024 $-144M ▼ $849M ▲ $-1.076B ▼ $281M ▲ $48M ▼ $674M ▲
Q3-2024 $616M ▲ $628M ▼ $-209M ▼ $-282M ▲ $122M ▲ $503M ▼
Q2-2024 $515M $657M $-136M $-380M $121M $524M

Revenue by Products

Product Q4-2024Q1-2025Q2-2025Q3-2025
Appliances
Appliances
 $370.00M ▲$120.00M ▼$130.00M ▲$180.00M ▲
KCup Pods
KCup Pods
 $1.89Bn ▲$830.00M ▼$910.00M ▲$940.00M ▲
LRB
LRB
 $5.08Bn ▲$2.55Bn ▼$2.98Bn ▲$3.04Bn ▲
Other Products
Other Products
 $200.00M ▲$130.00M ▼$150.00M ▲$140.00M ▼

Five-Year Company Overview

Income Statement

Income Statement Keurig Dr Pepper’s sales have been climbing at a steady pace over the past several years, showing that demand across its brands remains healthy. Profitability at the operating level has generally improved, suggesting better pricing power and cost control. However, profits after interest and taxes have been uneven, with earnings moving up and down rather than in a straight line. This points to the impact of one‑time items, financing costs, and possibly restructuring or deal-related expenses. Overall, it looks like a solid business that is growing, but the bottom line has been more volatile than the top line.

Balance Sheet

Balance Sheet The company carries a sizable asset base and has grown its overall scale, but it operates with meaningful debt. Debt levels had been drifting down, then moved notably higher more recently, likely tied to strategic deals and investments. Shareholders’ equity has generally trended upward over time, though it dipped slightly in the latest year, which could reflect buybacks, dividends, or deal accounting. Cash on hand is relatively modest compared with the size of the business, so the balance sheet is serviceable but not overly conservative, and future deal activity and interest rates matter for overall financial flexibility.

Cash Flow

Cash Flow Keurig Dr Pepper consistently generates positive cash from its operations, which is a key strength. The absolute level of cash flow has been healthy, even though it moves around from year to year, likely due to inventory swings, receivables, and other working capital items. After funding its regular investment in equipment and facilities, the company has regularly produced positive free cash flow, giving it room to support dividends, buybacks, and acquisitions. The pattern suggests a cash‑generative business with some normal volatility, rather than a structurally weak cash profile.

Competitive Edge

Competitive Edge Keurig Dr Pepper holds a strong position in North American beverages, supported by a deep portfolio of well‑known brands and a powerful distribution network. The combination of at‑home coffee systems and a wide range of cold drinks is a distinctive advantage, allowing the company to reach consumers throughout the day in different settings. The installed base of Keurig machines creates a recurring demand for pods and makes it harder for rivals to displace them in single‑serve coffee. At the same time, KDP competes against global giants in carbonated soft drinks, flavored beverages, and now energy drinks, so shelf space, marketing intensity, and shifting consumer tastes all remain ongoing pressures. Overall, the moat looks solid but must be actively defended in a very competitive market.

Innovation and R&D

Innovation and R&D The company is leaning heavily into innovation, both in products and in technology. On the coffee side, the move toward plastic‑free, compostable pods and new brewers aims to address environmental concerns while refreshing the Keurig platform. Connected brewers and loyalty programs give KDP direct insight into how and what customers drink, which can guide flavor launches and marketing more precisely. In cold beverages, the business continues to roll out new flavors and limited‑time products that keep legacy brands fresh, while expanding in fast‑growing areas like energy drinks and sports hydration. The planned acquisition of JDE Peet’s and the eventual split into separate coffee and beverage companies is a bold strategic step that could unlock new growth paths, but it also introduces significant execution risk and complexity. Digital initiatives in the supply chain and data analytics further show a focus on efficiency and responsiveness to demand.

Summary

Keurig Dr Pepper appears to be a mature but still growing beverage business with strong brands, a defensible market position, and reliable cash generation. Revenue growth and improving operating profits signal a healthy core franchise, even though net earnings and cash flows have been somewhat bumpy year to year. The balance sheet can support ongoing operations and investment, but rising debt tied to strategic moves is something to watch, especially as the company pursues large transactions. Its blend of coffee systems, traditional soft drinks, and newer categories like energy drinks gives it multiple growth avenues, supported by active innovation in products, packaging, and technology. The upcoming restructuring around the JDE Peet’s deal is a major strategic pivot that could reshape the company’s risk and return profile, and its success will depend on careful integration, separation planning, and continued responsiveness to changing consumer preferences and health trends.

NEWS

November 25, 2025 · 7:30 AM UTC

Keurig Dr Pepper Appoints Anthony DiSilvestro as Chief Financial Officer

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November 24, 2025 · 9:00 AM UTC

Keurig® Transforms the At-Home Coffee Experience with the Debut of Keurig Coffee Collective - Its First Ever Branded Coffee Line

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October 27, 2025 · 6:15 AM UTC

Keurig Dr Pepper Reports Q3 2025 Results, Raises Full Year Net Sales Outlook and Reaffirms EPS Guidance for 2025

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September 19, 2025 · 1:55 AM UTC

Update on intended recommended public offer by KDP for JDE Peet's

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September 16, 2025 · 4:15 PM UTC

Keurig Dr Pepper Declares Quarterly Dividend

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