Keurig Dr Pepper Inc.
KDP- Exchange
- Nasdaq
- Industry
- Beverages
- SEC CIK
- 0001418135
In the last 90 days, Keurig Dr Pepper Inc. insiders filed 1 open-market purchase and 2 sales; 863 institutions reported holding it in 13F filings for Q2 2026, worth $47.4B in total; superinvestors Harris Associates (Oakmark) and Maverick Capital hold it.
- Currency
- USD
- Source
- SEC XBRL data (10-K, 10-Q, 20-F, 40-F)
- Updated
- Nov 10, 2026, 1:16 AM ET
Revenue flow, FY2025
Where the revenue went in FY2025, from the income statement below. Green is profit; orange is costs, expenses and taxes. Percentages are shares of revenue; hover over a band or a bar for the exact amount.
Income statement
Each column is one fiscal year, newest first.
| Line item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|
| Period end | Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 |
| Filing | 10-K | 10-K | 10-K | 10-K | 10-K |
| Reported | Feb 24, 2026 | Feb 25, 2025 | Feb 22, 2024 | Feb 23, 2023 | Feb 24, 2022 |
| Revenue | $16.6B | $15.4B | $14.8B | $14.1B | $12.7B |
| Cost of revenue | $7.60B | $6.82B | $6.73B | $6.73B | $5.71B |
| Gross profit | $9.00B | $8.53B | $8.08B | $7.32B | $6.98B |
| Research and development | $70.0M | $70.0M | $66.0M | $65.0M | $66.0M |
| Selling, general and administrative | $5.35B | $5.01B | $4.91B | $4.64B | $4.15B |
| Operating income | $3.58B | $2.59B | $3.19B | $2.60B | $2.89B |
| Interest expense | – | – | $496.0M | $693.0M | $500.0M |
| Income tax | $608.0M | $473.0M | $576.0M | $284.0M | $653.0M |
| Net income | $2.08B | $1.44B | $2.18B | $1.44B | $2.15B |
| EPS, basic | $1.53 | $1.06 | $1.56 | $1.01 | $1.52 |
| EPS, diluted | $1.53 | $1.05 | $1.55 | $1.01 | $1.50 |
| Weighted shares, basic | 1.36B | 1.36B | 1.40B | 1.42B | 1.42B |
| Weighted shares, diluted | 1.36B | 1.37B | 1.41B | 1.43B | 1.43B |
| Margins and growth | |||||
| Gross margin | 54.2% | 55.6% | 54.5% | 52.1% | 55.0% |
| Operating margin | 21.5% | 16.9% | 21.5% | 18.5% | 22.8% |
| Net margin | 12.5% | 9.4% | 14.7% | 10.2% | 16.9% |
| Revenue growth, year over year | +8.2% | +3.6% | +5.4% | +10.8% | +9.2% |
| Net income growth, year over year | +44.3% | −33.9% | +51.9% | −33.1% | +62.0% |
Balance sheet
Each column is one fiscal year, newest first.
| Line item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|
| Period end | Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 |
| Filing | 10-K | 10-K | 10-K | 10-K | 10-K |
| Reported | Feb 24, 2026 | Feb 25, 2025 | Feb 22, 2024 | Feb 23, 2023 | Feb 24, 2022 |
| Cash and equivalents | $1.03B | $510.0M | $267.0M | $535.0M | $567.0M |
| Accounts receivable | $1.67B | $1.50B | $1.37B | $1.48B | $1.15B |
| Inventory | $1.73B | $1.30B | $1.14B | $1.31B | $894.0M |
| Total current assets | $5.27B | $4.00B | $3.38B | $3.80B | $3.06B |
| Property, plant and equipment | $3.23B | $2.96B | $2.70B | $2.49B | $2.49B |
| Goodwill | $20.2B | $20.1B | $20.2B | $20.1B | $20.2B |
| Intangible assets | $23.7B | $23.6B | $23.3B | $23.2B | $23.9B |
| Total assets | $55.5B | $53.4B | $52.1B | $51.8B | $50.6B |
| Accounts payable | $3.00B | $2.98B | $3.60B | $5.21B | $4.32B |
| Short-term debt | $3.10B | $2.64B | $3.25B | $895.0M | $304.0M |
| Total current liabilities | $8.29B | $8.09B | $8.92B | $8.08B | $6.49B |
| Long-term debt | $13.0B | $12.9B | $9.95B | $11.1B | $11.6B |
| Total liabilities | $29.9B | $29.2B | $26.5B | $26.7B | $25.6B |
| Shareholders' equity | $25.5B | $24.2B | $25.7B | $25.1B | $25.0B |
Cash flow statement
Each column is one fiscal year, newest first. Free cash flow is operating cash flow minus capital expenditures.
| Line item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|
| Period end | Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 |
| Filing | 10-K | 10-K | 10-K | 10-K | 10-K |
| Reported | Feb 24, 2026 | Feb 25, 2025 | Feb 22, 2024 | Feb 23, 2023 | Feb 24, 2022 |
| Operating cash flow | $1.99B | $2.22B | $1.33B | $2.84B | $2.87B |
| Capital expenditures | $486.0M | $563.0M | $425.0M | $353.0M | $423.0M |
| Free cash flow | $1.50B | $1.66B | $904.0M | $2.48B | $2.45B |
| Stock-based compensation | $97.0M | $98.0M | $116.0M | $52.0M | $88.0M |
| Dividends paid | $1.25B | $1.19B | $1.14B | $1.08B | $955.0M |
| Share buybacks | $9.00M | $1.11B | $706.0M | $379.0M | – |
| Investing cash flow | -$573.0M | -$1.61B | -$784.0M | -$1.14B | $210.0M |
| Financing cash flow | -$999.0M | -$223.0M | -$832.0M | -$1.73B | -$2.76B |
| Ratio | |||||
| Stock-based compensation, % of revenue | 0.6% | 0.6% | 0.8% | 0.4% | 0.7% |
Shares outstanding
Common shares outstanding as stated on the cover of each 10-K and 10-Q. The date is the cover date, not the period end; a rising count means dilution.
| Cover date | Shares outstanding | Change in a year | Filing |
|---|---|---|---|
| Nov 5, 2026 | 1.36B | +0.2% | SEC |
| Aug 10, 2026 | 1.36B | +0.2% | SEC |
| Apr 21, 2026 | 1.36B | +0.2% | SEC |
| Feb 20, 2026 | 1.36B | +0.1% | SEC |
| Oct 23, 2025 | 1.36B | +0.2% | SEC |
| Jul 22, 2025 | 1.36B | +0.2% | SEC |
| Apr 22, 2025 | 1.36B | +0.2% | SEC |
| Feb 21, 2025 | 1.36B | −2.2% | SEC |
Notes and known gaps
How these numbers are put together, and what they can't tell you.
- Numbers come from the XBRL data in each period's original 10-K, 10-Q, 20-F or 40-F, or its amendment. They are shown as filed: later filings don't restate earlier periods here.
- Reported is the filing date of the first 8-K with Item 2.02 (results of operations) after the period ended, no later than the 10-Q or 10-K and within 120 days. Companies that release results only in the 10-Q, and foreign companies, which use Form 6-K, have none.
Known gaps
- Foreign companies that file Form 20-F or 40-F have annual statements only: their quarterly results are furnished on Form 6-K, which has no XBRL data.
- EPS and share counts are as reported at the time, not adjusted for later stock splits.
- For ADRs, EPS is per ordinary share, not per ADS (one TSMC ADS is five ordinary shares).
- For banks, revenue may be interest income only, depending on how the bank tags its filings; cost of revenue and gross profit are usually blank.
- Companies with several share classes, such as Berkshire Hathaway, may have no EPS and no cover share count.
- Depreciation and amortization is missing for some companies that report it under their own XBRL tags.