Keurig Dr Pepper Inc. (KDP) Stock Analysis
Consumer Defensive · Beverages - Non-Alcoholic · NasdaqGS
Keurig Dr Pepper Inc. (KDP) posted $16.60B in revenue for fiscal 2025 (up 8.2% year over year), at a 12.5% net margin, and has compounded revenue about 7.4%/yr over five years, per its SEC filings.
Data last refreshed August 2, 2026 from SEC filings · how we compute this
The analyst's take on Keurig Dr Pepper Inc.
Keurig Dr Pepper Inc. has grown revenue from $4.27B to $16.60B over the last 10 fiscal years, compounding about 7.4% a year. The most recent year was up 8.2%, roughly in line with its longer-run pace.
Net margin sits at 12.5%, up 3.1 points year over year on a 54.2% gross margin. It carries about $16.14B of total debt.
At today's valuation the market is pricing in roughly 12.3% annual free-cash-flow growth — versus the -5.5% it actually delivered over the last five years, so the price already assumes a step-up from the recent record. The one thing worth a second look in the filings is inventory building faster than sales.
Synthesised from Keurig Dr Pepper Inc.'s SEC filings — descriptive, not advice. Ask the analyst your own question →
Keurig Dr Pepper Inc. revenue & earnings — last 10 fiscal years
| Metric | 2017 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $4.27B | $6.69B | $7.44B | $11.12B | $11.62B | $12.68B | $14.06B | $14.81B | $15.35B | $16.60B |
| Gross profit | $2.04B | $4.00B | $3.88B | $6.34B | $6.49B | $6.98B | $7.32B | $8.08B | $8.53B | $9.00B |
| Net income | $378.00M | $1.08B | $586.00M | $1.25B | $1.32B | $2.15B | $1.44B | $2.18B | $1.44B | $2.08B |
| Net margin | 8.9% | 16.1% | 7.9% | 11.3% | 11.4% | 16.9% | 10.2% | 14.7% | 9.4% | 12.5% |
Source: Keurig Dr Pepper Inc. SEC filings (10-K). 19 years of history available in the interactive view.
Keurig Dr Pepper Inc.: 2 potential red flags in the filings
Patterns in the filed statements worth a second look — computed and cited, not AI guesswork, and not a signal to sell. The kind of thing that hides in a 10-K.
- Inventory building faster than salesInventory rose 33.4% versus revenue 8.2% — possible overproduction or softening demand.
- Heavy debt loadTotal debt of $17036M is 8.6× last year's operating cash flow — it would take years of cash flow to clear.
What growth is priced into KDP stock?
At today's market cap of $42.34B, Keurig Dr Pepper Inc. is priced for free-cash-flow growth of about 12.3% per year for 10 years (assuming a 10% discount rate and 2.5% terminal growth, base FCF $1.50B from the FY ending 2025-12-31). For comparison, free cash flow actually grew -5.5%/yr over the last five fiscal years and revenue 7.4%/yr, computed from its SEC filings. This is a reverse DCF — a translation of the price into a growth assumption you can judge, not a fair value and not advice. Change the assumptions yourself in the interactive view →
Explore 19 years of Keurig Dr Pepper Inc. financials — interactive
Full income statement, balance sheet and cash flow with CAGR and trend on every row, 48 quarters, valuation ratios, plain-English health checks, and Ask — our SEC-grounded research assistant.
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Keurig Dr Pepper Inc. financial history by metric
Compare Keurig Dr Pepper Inc. with peers
About Keurig Dr Pepper Inc.
Keurig Dr Pepper Inc. owns, manufactures, and distributors beverages and single serve brewing systems in the United States and internationally. The company operates through three segments: U.S. Refreshment Beverages, U.S. Coffee, and International. It manufactures and distributes branded concentrates, syrup, and finished beverages, as well as sales of owned brands and third-party brands; tea, cocoa, and other products; and offers finished goods relating to K-Cup pods, single serve brewers, specialty coffee, and ready to drink coffee products. The company offers its products under the Dr Pepper, Canada Dry, Mott's, A&W, Peñafiel, GHOST, Snapple, 7UP, Green Mountain Coffee Roasters, Clamato, Core Hydration, The Original Donut Shop, Sunkist soda, Squirt, C4 Energy, Hawaiian Punch, Electrolit, Bloom, Bai, Evian, Yoo-Hoo, Vita Coco, Big Red, RC Cola, Crush, McCafé, Tim Hortons, Van Houtte, Celestial Seasonings, Bigelow, Starbucks, Dunkin', Folgers, Peet's, and Swiss Miss brands, as well as other partner and private label brands. It markets and sells its products to supermarkets, mass merchandisers, club stores, e-commerce retailers, office superstores, vending machines, fountains, grocery and drug stores, convenience stores, and other small outlets; and directly to consumers through Keurig.com website. Keurig Dr Pepper Inc. was founded in 1981 and is headquartered in Frisco, Texas.
Keurig Dr Pepper Inc. — frequently asked questions
What is Keurig Dr Pepper Inc.'s revenue?
Keurig Dr Pepper Inc. (KDP) reported revenue of $16.60B for fiscal year 2025, up 8.2% from the prior year, according to its SEC filings.
Is Keurig Dr Pepper Inc. profitable?
Yes. KDP earned net income of $2.08B in fiscal 2025, a net margin of 12.5%.
What is KDP's P/E ratio?
Keurig Dr Pepper Inc. trades at a price-to-earnings ratio of about 23.1 based on the latest data in our nightly-refreshed cache.
How fast is Keurig Dr Pepper Inc. growing?
KDP's revenue grew at roughly 7.4% per year over the last five fiscal years (compound annual growth rate), computed from SEC-filed statements.
How much debt does Keurig Dr Pepper Inc. have?
As of fiscal year 2025, KDP carried roughly $16.14B in total debt (short- plus long-term borrowings), per its filed balance sheet.
What is Keurig Dr Pepper Inc.'s gross margin?
KDP's gross margin was 54.2% in fiscal 2025 — gross profit of $9.00B on revenue of $16.60B.
What is Keurig Dr Pepper Inc.'s market cap?
Keurig Dr Pepper Inc. (KDP) has a market capitalization of about $42.34B, based on the latest data in our nightly-refreshed cache.
When does Keurig Dr Pepper Inc.'s fiscal year end?
KDP's fiscal year ends in December. Its most recent annual filing covers the fiscal year ending 2025-12-31.
What growth is priced into KDP stock?
At today's market cap of $42.34B, Keurig Dr Pepper Inc. is priced for free-cash-flow growth of about 12.3% per year for 10 years (assuming a 10% discount rate and 2.5% terminal growth, base FCF $1.50B from the FY ending 2025-12-31). For comparison, free cash flow actually grew -5.5%/yr over the last five fiscal years and revenue 7.4%/yr, computed from its SEC filings.
Where does this data come from?
All figures are computed from Keurig Dr Pepper Inc.'s official SEC filings (10-K and 10-Q), covering 19 years of history, refreshed nightly. stockportfolio.pro does not provide investment advice.