15 years of revenue, profit, cash flow and balance-sheet history through FY2025,
from SEC filings — with a computed, factual read of the trend.
Updated Overview →
Growth & profitability
Revenue has grown 7.4% per year over the past 5 years.
Net income has grown faster than revenue (9.4% vs 7.4% per year).
Operating margin has been roughly flat, at 21.5% in the latest year.
Free cash flow has declined 5.5% per year over the past 5 years.
Financial health
Total debt ($13.9B) exceeds cash ($1.0B); net debt is $12.9B.
Total debt has grown slower than revenue (0.6% vs 7.4% per year).
Total debt is 3.9× EBITDA.
Shareholder returns
Dividends have been paid for 8 consecutive years, consuming 60.1% of earnings and 83.1% of free cash flow.
The dividend has grown 8.1% per year over the past 5 years.
Revenue & net income
RevenueNet income
Margins (gross / operating / net)
GrossOperatingNet
Return on equity & assets (ROE / ROA)
ROEROA
Free cash flow (CFO − capex)
Free cash flow
Cash vs total debt
CashTotal debt
Cash flow: operating / investing / financing
OperatingInvestingFinancing
Key annual figures
FY
Revenue
Net income
Gross M
Op M
ROE
ROA
FCF
Total debt
Cash
2025
$16.6B
$2.1B
54.2%
21.5%
8.1%
3.7%
$1.5B
$13.9B
$1.0B
2024
$15.4B
$1.4B
55.6%
16.9%
5.9%
2.7%
$1.7B
$13.9B
$510M
2023
$14.8B
$2.2B
54.5%
21.5%
8.5%
4.2%
$904M
$11.1B
$267M
2022
$14.1B
$1.4B
52.1%
18.5%
5.7%
2.8%
$2.5B
$11.6B
$535M
2021
$12.7B
$2.1B
55.0%
22.8%
8.6%
4.2%
$2.5B
$11.7B
$567M
2020
$11.6B
$1.3B
55.8%
21.3%
5.6%
2.7%
$2.0B
$13.5B
$240M
2019
$11.1B
$1.3B
57.0%
21.4%
5.4%
2.5%
$2.1B
$13.2B
$75M
2018
$7.4B
$586M
52.2%
16.6%
2.6%
1.2%
$1.4B
$14.6B
$83M
2017
—
$1.1B
—
—
14.5%
6.8%
$836M
$3.3B
$90M
2017
$4.3B
$378M
47.9%
21.0%
5.5%
2.3%
$1.7B
$3.9B
$66M
2016
—
$847M
—
—
39.7%
8.7%
$781M
$4.3B
$1.8B
2015
—
$764M
—
—
35.0%
8.6%
$835M
$3.2B
$911M
2014
—
$703M
—
—
30.6%
8.5%
$852M
$2.5B
$237M
2013
—
$624M
—
—
27.4%
7.6%
$687M
$2.6B
$153M
2012
—
$629M
—
—
27.6%
7.0%
$265M
$2.8B
$366M
Revenue & net income
RevenueNet income
Margins (gross / operating / net)
GrossOperatingNet
Return on equity & assets (ROE / ROA)
ROEROA
Free cash flow (CFO − capex, quarterly)
Free cash flow
Cash vs total debt
CashTotal debt
Cash flow: operating / investing / financing
OperatingInvestingFinancing
Key quarterly figures
Quarter
Revenue
Net income
Gross M
Op M
ROE
ROA
FCF
Total debt
Cash
Jun '26
$7.3B
$142M
41.9%
8.6%
0.6%
0.2%
$714M
$24.8B
$1.5B
Mar '26
$4.0B
$270M
52.8%
19.0%
1.1%
0.4%
$165M
$22.9B
$898M
Dec '25
$4.5B
$353M
53.8%
19.6%
1.4%
0.6%
$564M
$13.9B
$1.0B
Sep '25
$4.3B
$662M
54.3%
23.1%
2.6%
1.2%
$527M
$14.4B
$516M
Jun '25
$4.2B
$547M
54.2%
21.6%
2.2%
1.0%
$325M
$14.4B
$509M
Mar '25
$3.6B
$517M
54.6%
22.0%
2.1%
1.0%
$89M
$13.0B
$653M
Dec '24
$4.1B
-$144M
55.9%
1.5%
-0.6%
-0.3%
$684M
$13.9B
$510M
Sep '24
$3.9B
$616M
55.0%
23.2%
2.5%
1.2%
$503M
$12.9B
$552M
Jun '24
$3.9B
$515M
55.4%
22.0%
2.1%
1.0%
$542M
$12.9B
$438M
Mar '24
$3.5B
$454M
55.9%
22.1%
1.8%
0.9%
-$73M
$12.9B
$317M
Dec '23
$3.9B
$693M
56.5%
24.4%
2.7%
1.3%
$143M
$11.1B
$267M
Sep '23
$3.8B
$518M
55.5%
23.5%
2.0%
1.0%
$458M
$11.6B
$260M
Jun '23
$3.8B
$503M
53.9%
20.3%
2.0%
1.0%
$294M
$11.6B
$278M
Mar '23
$3.4B
$467M
52.0%
17.4%
1.9%
0.9%
$9M
$11.6B
$204M
Dec '22
$3.8B
$453M
52.5%
17.7%
1.8%
0.9%
$646M
$11.6B
$535M
Sep '22
$3.6B
$180M
52.5%
10.9%
0.7%
0.3%
$685M
$11.6B
$925M
Jun '22
$3.6B
$218M
50.0%
16.1%
0.9%
0.4%
$599M
$11.6B
$552M
Mar '22
$3.1B
$585M
53.6%
31.4%
2.3%
1.1%
$554M
$11.6B
$592M
Dec '21
$3.4B
$843M
52.3%
21.4%
3.4%
1.7%
$843M
$11.7B
$567M
Sep '21
$3.3B
$530M
56.5%
24.5%
2.2%
1.1%
$673M
$11.7B
$200M
Valuation over time
How the market has priced KDP against its own fundamentals since 2023-03 —
each month-end's share price set against the most recent annual filing, so the multiple moves
as price runs ahead of (or behind) earnings. Split-adjusted.
The price-to-earnings ratio has fallen from 33.4× (Mar '23) to 24.2× (Nov '26).
The price-to-sales ratio has fallen from 3.4× (Mar '23) to 3.0× (Nov '26).
The dividend yield has risen from 2.2% (Mar '23) to 2.5% (Nov '26).
Price / earnings (P/E)
P/E
Price / sales (P/S)
P/S
Dividend yield (%)
Dividend yield %
Frequently asked questions
Is KDP growing its revenue and profit?
Over the past 5 years, Keurig Dr Pepper's revenue has grown 7.4% per year, and net income grown 9.4% per year. These are computed facts, not advice.
How much debt does KDP have?
As of FY2025, Keurig Dr Pepper reported $13.9B of total debt against $1.0B of cash.
What is KDP's profit margin?
In FY2025, gross margin was 54.2%, operating margin 21.5%, and net margin 12.5%.
What is KDP's P/E ratio?
Keurig Dr Pepper's P/E (TTM) is 35.23 as of the 2026-11-02 close — market cap ÷ net income over the trailing twelve months where four consecutive quarters are reported, otherwise the latest fiscal year, the same figure as on the KDP stock page. The valuation chart above sets each month-end's price against the latest annual net income instead, so its latest point (about 24.2× as of Nov '26) can differ. These are computed facts, not advice.
Where does this data come from?
All figures are extracted from the company’s SEC EDGAR/XBRL filings — 10-K annual reports and 10-Q quarterly reports (use the Annual / Quarterly toggle). Quarterly figures are derived from the as-filed statements (year-to-date amounts are differenced into discrete quarters). Growth rates and ratios are computed by tradmap; nothing here is investment advice.
Source: SEC EDGAR / XBRL (10-K + 10-Q filings) · prices EOD (Databento), split-adjusted; price return — dividends not reinvested ·
growth rates, valuation multiples & ratios computed by tradmap. Valuation uses each month-end price
against the latest annual filing. Informational only — not investment advice.