KDPNasdaqBeveragesFiscal year ends December 31
Keurig Dr Pepper Inc.
Financials through Q2 FY2026, quarter ended Jun 30, 2026Last filing: 10-Q on Aug 10, 2026
$34.46−0.16 (-0.46%)
Close on Oct 19, 2026
- Market cap
- $47.02B
- P/E (TTM)
- 34.8
- Dividend yield
- 2.67%
Margins
Share of revenue, fiscal years 2011 to 2025
Gross margin
54.2%−1.6 pts over 5 years
Operating margin
21.5%+0.2 pts over 5 years
Net margin
12.5%+1.1 pts over 5 years
Growth rates
Compound annual growth to fiscal 2025
| Per year | 1 year | 3 years | 5 years | 10 years | Five-year pace |
|---|---|---|---|---|---|
| Revenue | +8.2% | +5.7% | +7.4% | +10.2% | |
| Gross profit | +5.5% | +7.1% | +6.8% | +9.2% | |
| Operating income | +38.0% | +11.1% | +7.6% | +10.7% | |
| Net income | +44.3% | +13.1% | +9.4% | +10.5% | |
| EPS, diluted | +45.7% | +14.8% | +10.5% | +5.3% | |
| Free cash flow | -9.1% | -15.4% | -5.5% | +6.1% | |
| Dividend per share | +3.4% | +5.9% | +8.9% | +7.6% |
Returns and balance sheet
10 fiscal years. Hover a measure to see how it is calculated.
| Measure | FY2016 | FY2020 | FY2025 | Trend |
|---|---|---|---|---|
| Return on equity | 39.2% | 5.6% | 8.4% | |
| Return on assets | 9.1% | 2.7% | 3.8% | |
| Current ratio | 2.60 | 0.31 | 0.64 | |
| Debt to equity | 2.10 | 0.57 | 0.63 | |
| Net debt to EBITDA | 2.86× | – | – | |
| Interest coverage | 9.7× | 4.1× | – | |
| Inventory turnover | 12.6× | 7.2× | 5.0× | |
| Capex to revenue | 2.8% | 4.0% | 2.9% | |
| Diluted shares | 809M | 1.42B | 1.36B |
Where the cash went
Fiscal 2021 to 2025, five years combined
Keurig Dr Pepper generated $11.25B from operations and spent $10.08B on capital expenditure, dividends and share buybacks. 22% of that went back into the business.
Generated
$11.25B
Used
$10.08B
Capital expenditure$2.25B22%Dividends$5.62B56%Share buybacks$2.20B22%
DuPont analysis
Return on equity split into margin, efficiency and leverage
Net margin12.5%
×Asset turnover0.30×
×Equity multiplier2.19×
=Return on equity, FY20258.4%
| Fiscal year | Net margin | Asset turnover | Equity multiplier | Return on equity |
|---|---|---|---|---|
| FY2025 | 12.5% | 0.30× | 2.19× | 8.4% |
| FY2024 | 9.4% | 0.29× | 2.11× | 5.8% |
| FY2023 | 14.7% | 0.28× | 2.05× | 8.6% |
| FY2022 | 10.2% | 0.27× | 2.04× | 5.7% |
| FY2021 | 16.9% | 0.25× | 2.06× | 8.8% |
| FY2020 | 11.4% | 0.23× | 2.11× | 5.6% |
| FY2019 | 11.3% | 0.23× | 2.15× | 5.5% |
| FY2018 | 7.9% | 0.23× | 2.16× | 3.9% |
| FY2017 | 16.1% | 0.52× | 2.68× | 22.6% |
| FY2016 | 13.2% | 0.69× | 4.32× | 39.2% |
Piotroski F-Score
Nine tests of profitability, balance sheet and efficiency, fiscal 2025 against fiscal 2024
7of 9 tests passed in fiscal 2025. Scores of 7 to 9 are usually read as strong.
- ProfitableNet income above zero$2.08B
- Cash generatingOperating cash flow above zero$1.99B
- Return on assets improvedROA up on the prior year2.8% → 3.9%
- Earnings backed by cashOperating cash flow above net income$1.99B vs $2.08B
- Less leverageLong-term debt to assets fell24.2% → 23.5%
- Better liquidityCurrent ratio rose0.49 → 0.64
- No dilutionShare count did not rise1.37B → 1.36B
- Gross margin improvedGross margin up on the prior year55.56% → 54.20%
- More efficientAsset turnover rose0.29 → 0.31