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
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
FCF
Total debt
Cash
2025
$16.6B
$2.1B
54.2%
21.5%
$1.5B
$13.9B
$1.0B
2024
$15.4B
$1.4B
55.6%
16.9%
$1.7B
$13.9B
$510M
2023
$14.8B
$2.2B
54.5%
21.5%
$904M
$11.1B
$267M
2022
$14.1B
$1.4B
52.1%
18.5%
$2.5B
$11.6B
$535M
2021
$12.7B
$2.1B
55.0%
22.8%
$2.5B
$11.7B
$567M
2020
$11.6B
$1.3B
55.8%
21.3%
$2.0B
$13.5B
$240M
2019
$11.1B
$1.3B
57.0%
21.4%
$2.1B
$13.2B
$75M
2018
$7.4B
$586M
52.2%
16.6%
$1.4B
$14.6B
$83M
2017
—
$1.1B
—
—
$836M
$3.3B
$90M
2017
$4.3B
$378M
47.9%
21.0%
$1.7B
$3.9B
$66M
2016
—
$847M
—
—
$781M
$4.3B
$1.8B
2015
—
$764M
—
—
$835M
$3.2B
$911M
2014
—
$703M
—
—
$852M
$2.5B
$237M
2013
—
$624M
—
—
$687M
$2.6B
$153M
2012
—
$629M
—
—
$265M
$2.8B
$366M
Revenue & net income
RevenueNet income
Margins (gross / operating / net)
GrossOperatingNet
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
FCF
Total debt
Cash
Mar '26
$4.0B
$270M
52.8%
19.0%
$165M
$22.9B
$898M
Dec '25
$4.5B
$353M
53.8%
19.6%
$564M
$13.9B
$1.0B
Sep '25
$4.3B
$662M
54.3%
23.1%
$527M
$14.4B
$516M
Jun '25
$4.2B
$547M
54.2%
21.6%
$325M
$14.4B
$509M
Mar '25
$3.6B
$517M
54.6%
22.0%
$89M
$13.0B
$653M
Dec '24
$4.1B
-$144M
55.9%
1.5%
$684M
$13.9B
$510M
Sep '24
$3.9B
$616M
55.0%
23.2%
$503M
$12.9B
$552M
Jun '24
$3.9B
$515M
55.4%
22.0%
$542M
$12.9B
$438M
Mar '24
$3.5B
$454M
55.9%
22.1%
-$73M
$12.9B
$317M
Dec '23
$3.9B
$693M
56.5%
24.4%
$143M
$11.1B
$267M
Sep '23
$3.8B
$518M
55.5%
23.5%
$458M
$11.6B
$260M
Jun '23
$3.8B
$503M
53.9%
20.3%
$294M
$11.6B
$278M
Mar '23
$3.4B
$467M
52.0%
17.4%
$9M
$11.6B
$204M
Dec '22
$3.8B
$453M
52.5%
17.7%
$646M
$11.6B
$535M
Sep '22
$3.6B
$180M
52.5%
10.9%
$685M
$11.6B
$925M
Jun '22
$3.6B
$218M
50.0%
16.1%
$599M
$11.6B
$552M
Mar '22
$3.1B
$585M
53.6%
31.4%
$554M
$11.6B
$592M
Dec '21
$3.4B
$843M
52.3%
21.4%
$843M
$11.7B
$567M
Sep '21
$3.3B
$530M
56.5%
24.5%
$673M
$11.7B
$200M
Jun '21
$3.1B
$448M
56.4%
23.4%
$484M
$11.7B
$167M
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 21.3× (Jun '26).
The price-to-sales ratio has fallen from 3.4× (Mar '23) to 2.7× (Jun '26).
The dividend yield has risen from 2.2% (Mar '23) to 2.8% (Jun '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?
As of Jun '26, Keurig Dr Pepper traded at a price-to-earnings ratio of about 21.3× (market cap ÷ latest annual net income). The valuation charts above show how its P/E, P/S and dividend yield have moved with the share price. 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), corporate-action-adjusted ·
growth rates, valuation multiples & ratios computed by tradmap. Valuation uses each month-end price
against the latest annual filing. Informational only — not investment advice.