Keurig Dr Pepper

Consumer Staples Soft Drinks & Non-alcoholic Beverages Burlington, Massachusetts Last filing Feb 24, 2026 · FY2025

                    Revenue
                    FY2025
                
$16.6B
                    3y CAGR +5.7%
                    
                    P77
                    
                    +8.2%
                    
                    Net income
                    FY2025
                
$2.1B
                    Net margin +12.5%
                    
                    P86
                    
                    +44.3%
                    
                    Total assets
                    FY2025
                
$55.5B
                    ROA +3.7%
                    
                    P37
                    
                    +3.8%
                    
                    Operating cash flow
                    FY2025
                
$2.0B
                    FCF margin +9.1%
                    
                    P47
                    
                    -10.3%

18 yrs · FY2008–FY2025 9 filed · 0 derived · 0 blank

1Y 3Y 5Y 10Y

Dollars % of revenue % of assets YoY % CAGR

Each cell as a share of that year’s revenue.

Balance Sheet

Assets, liabilities, and equity

32 accounts · 5 years

Total assets $55.5B

Total liabilities $29.9B

Shareholders equity $25.5B

Account	2025	2024	2023	2022	2021
Assets
Cash and Cash Equivalents	6.3%	4.0%	1.8%	3.8%	4.5%
Accounts Receivable	10.1%	9.8%	9.2%	10.6%	9.1%
Inventory	10.4%	8.5%	7.7%	9.3%	7.0%
Prepaid Expenses	4.9%	3.9%	4.0%	3.4%	3.5%
Total Current Assets	31.7%	26.0%	22.8%	27.1%	24.1%
Property,Plant and Equipment	19.5%	19.3%	18.2%	17.7%	19.7%
Operating Lease Assets	5.1%	5.7%	5.9%	6.3%	5.3%
Goodwill	121.9%	130.6%	136.4%	142.8%	159.1%
Intangible Assets	142.9%	154.0%	157.2%	164.9%	188.1%
Long Term Investments	10.0%	10.1%	9.4%	7.1%	0.2%
Deferred Tax Assets	0.2%	0.3%	0.2%	0.2%	0.3%
Other Noncurrent Assets	7.8%	7.8%	7.8%	8.9%	7.4%
Total Assets	334.0%	348.1%	351.9%	368.8%	398.9%
Liabilities
Accounts Payable	18.0%	19.4%	24.3%	37.0%	34.0%
Accrued Liabilities	8.3%	10.3%	8.4%	8.2%	8.8%
Current Portion of Long Term Debt	5.4%	6.7%	7.8%	3.5%	1.2%
Operating Lease Liabilities	0.8%	0.8%	0.8%	0.7%	0.6%
Other Current Liabilities	4.7%	5.4%	4.8%	4.9%	4.8%
Total Current Liabilities	49.9%	52.7%	60.2%	57.5%	51.1%
Long Term Debt	78.5%	84.1%	67.1%	78.8%	91.3%
Operating Lease Liabilities Noncurrent	4.6%	5.1%	5.4%	5.7%	4.8%
Deferred Tax Liabilities	33.3%	35.4%	38.9%	40.8%	47.2%
Other Noncurrent Liabilities	18.6%	17.9%	12.4%	13.0%	12.4%
Total Liabilities	180.3%	190.1%	178.6%	190.0%	202.0%
Equity
Preferred Stock	0.0%	0.0%	0.0%	0.0%	0.0%
Common Stock	0.1%	0.1%	0.1%	0.1%	0.1%
Additional Paid In Capital	119.1%	128.4%	140.3%	152.6%	171.8%
Retained Earnings	33.9%	31.2%	30.8%	25.2%	25.2%
Accumulated Other Comprehensive Income	0.6%	-1.8%	2.1%	0.9%	-0.2%
Noncontrolling Interest	0.0%	0.0%	0.0%	-0.0%	0.0%
Total Stockholders Equity	153.7%	157.9%	173.3%	178.7%	196.9%
Total Liabilitiesand Equity	334.0%	348.1%	351.9%	368.8%	398.9%

Income Statement

Revenue, expense, and profitability

19 accounts · 5 years

Revenue $16.6B

Operating income $3.6B

Net income $2.1B

Account	2025	2024	2023	2022	2021
IncomeStatement
Revenues Total Revenue	100.0%	100.0%	100.0%	100.0%	100.0%
Expenses Cost of Revenue	45.8%	44.4%	45.5%	47.9%	45.0%
Expenses Research and Development	0.4%	0.5%	0.4%	0.5%	0.5%
Expenses Selling,General and Administrative	32.2%	32.7%	33.2%	33.0%	32.7%
Expenses Depreciation and Amortization	0.8%	0.9%	0.9%	1.0%	1.1%
Expenses Share Based Compensation	0.6%	0.6%	0.8%	0.4%	0.7%
Expenses Restructuring and Asset Impairment	0.4%	0.6%	0.2%	1.2%	1.6%
Other Income Expense Gross Profit	54.2%	55.6%	54.5%	52.1%	55.0%
Other Income Expense Operating Income	21.5%	16.9%	21.5%	18.5%	22.8%
Other Income Expense Interest Expense	0.2%	0.2%	3.3%	4.9%	3.9%
Other Income Expense Other Income/expense	-0.8%	0.4%	0.4%	-0.1%	0.0%
Other Income Expense Income Before Tax	16.2%	12.5%	18.6%	12.2%	22.1%
Income Tax Income Tax Expense	3.7%	3.1%	3.9%	2.0%	5.1%
net Income net Income	12.5%	9.4%	14.7%	10.2%	16.9%
net Income Comprehensive Income	14.8%	5.5%	16.0%	11.3%	16.1%
Earnings Per Share Basic Eps	0.0%	0.0%	0.0%	0.0%	0.0%
Earnings Per Share Diluted Eps	0.0%	0.0%	0.0%	0.0%	0.0%
Earnings Per Share Weighted Average Shares Basic	8.2%	8.9%	9.4%	10.1%	11.2%
Earnings Per Share Weighted Average Shares Diluted	8.2%	8.9%	9.5%	10.2%	11.3%

Cash Flow Statement

Operating, investing, and financing flows

22 accounts · 5 years

Operating cash flow $2.0B

Investing cash flow $-573.0M

Financing cash flow $-999.0M

Account	2025	2024	2023	2022	2021
CashFlow
Operating Activities net Income	12.5%	9.4%	14.7%	10.2%	16.9%
Operating Activities Depreciation and Amortization	2.7%	2.7%	2.7%	2.8%	3.2%
Operating Activities Stock Based Compensation	0.6%	0.6%	0.8%	0.4%	0.7%
Operating Activities Deferred Income Taxes	0.3%	-1.7%	-0.0%	-2.1%	0.2%
Operating Activities Changes In Operating Assets and Liabilities	6.0%	3.8%	11.8%	2.0%	-2.8%
Operating Activities Other Non Cash Items	1.0%	0.0%	0.1%	1.5%	0.0%
Operating Activities net Cash From Operating Activities	12.0%	14.5%	9.0%	20.2%	22.7%
Investing Activities Capital Expenditures	2.9%	3.7%	2.9%	2.5%	3.3%
Investing Activities Business Acquisitions	0.9%	6.5%	0.0%	0.0%	0.0%
Investing Activities Other Investing Activities	-0.4%	-0.1%	-0.0%	-0.0%	0.1%
Investing Activities net Cash From Investing Activities	-3.5%	-10.5%	-5.3%	-8.1%	1.7%
Financing Activities Proceeds From Debt	12.0%	19.5%	0.0%	21.3%	17.0%
Financing Activities Repayment of Debt	6.2%	7.5%	3.4%	23.9%	28.3%
Financing Activities Repurchase of Common Stock	0.1%	7.2%	4.8%	2.7%	0.0%
Financing Activities Dividends Paid	7.5%	7.8%	7.7%	7.7%	7.5%
Financing Activities Tax Withholding On Stock Based Compensation	0.2%	0.4%	0.4%	0.1%	1.0%
Financing Activities Other Financing Activities	-0.0%	-0.0%	-0.0%	-0.3%	-0.3%
Financing Activities net Cash From Financing Activities	-6.0%	-1.5%	-5.6%	-12.3%	-21.8%
Cash Reconciliation Effect of Exchange Rate On Cash	0.1%	-0.3%	0.1%	-0.0%	-0.1%
Cash Reconciliation net Change In Cash	2.5%	2.5%	-1.9%	-0.2%	2.5%
Cash Reconciliation Cash At Beginning of Period	6.3%	4.0%	1.8%	3.8%	4.5%
Cash Reconciliation Cash At End of Period	6.3%	4.0%	1.8%	3.8%	4.5%

Key Ratios

Margins, returns, liquidity, leverage, efficiency

Computed at import · 5 years

Ratio	2025	2024	2023	2022	2021
Profitability
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%
FCF margin	+9.1%	+10.8%	+6.1%	+17.7%	+19.3%
Growth
Revenue CAGR (3y)	+5.7%	+6.6%	+8.4%	+8.1%	+19.4%
Returns
ROE	+8.1%	+5.9%	+8.5%	+5.7%	+8.6%
ROA	+3.7%	+2.7%	+4.2%	+2.8%	+4.2%
ROIC	+7.2%	+5.2%	+6.9%	+6.0%	+6.1%
Liquidity
Current ratio	0.64x	0.49x	0.38x	0.47x	0.47x
Quick ratio	0.33x	0.26x	0.18x	0.25x	0.26x
Leverage
D/E	1.17x	1.20x	1.03x	1.06x	1.03x
Interest coverage	94.08x	78.52x	6.44x	3.76x	5.79x
Efficiency
Asset turnover	0.30x	0.29x	0.28x	0.27x	0.25x
Cash conversion cycle	-24d	-54d	-99d	-172d	-186d

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FY2025 fundamentals · no price

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Keurig Dr Pepper

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