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Makes Keurig single-serve coffee systems/pods plus Dr Pepper, 7Up, Snapple and other soft-drink and flavored-beverage brands.
Makes Keurig single-serve coffee systems/pods plus Dr Pepper, 7Up, Snapple and other soft-drink and flavored-beverage brands.
Sells coffee pods, a repeat purchase like razor blades for the Keurig brewers it has already placed in homes and offices, and soft drinks through bottlers it owns and independent bottlers, including Coca-Cola and Pepsi bottlers carrying its brands. It was formed in 2018 by merging Keurig Green Mountain into Dr Pepper Snapple, with JAB the biggest shareholder.
Moat: narrow (brand, installed base, distribution). A large installed base of Keurig brewers creates a razor/razor-blade pod-refill business alongside strong soda brands.
Headquarters: Burlington, Massachusetts, US · Founded: 2018 · Employees: 30,600
Size Keurig Dr Pepper (KDP) is a United States Consumer Staples company (Beverages: Non-Alcoholic) with a market value of $49.8B, the 253rd largest of 3,117 United States companies the cockpit tracks. Shares closed at $36.63 on 6 Nov 2026.
Performance Over six months the shares gained 28.0%, against +9.0% for the median peer and -1.1% for the United States market (cap-weighted) — highest of 9 in its peer set.
Growth Revenue grew 43.0% over the last twelve months (peer median +15.5%); the operating margin is 16.6% (peer median 13.3%).
Valuation It trades at 14.8× forward earnings against a peer median of 24.0× (2nd cheapest of 8).
Price implies For today's price to make sense, revenue must grow about 6% a year for seven years (Req g). Recent delivered growth is +7%, so the hurdle is -1 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 0.4 points below its cost of capital (6.2% WACC).
Credit Keurig Dr Pepper has 22 bonds outstanding ($13.7B), rated BBB- by the agencies and trading like BBB at a weighted spread of 94 bp.
Short interest Short interest is 6.2% of the free float (15 Oct 2026).
Next results Next results expected around 25 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | $23.1B | $16.6B | $15.4B | $14.8B | $14.1B |
| Revenue growth | — | +8% | +4% | +5% | — |
| Gross profit | $11.4B | $8.35B | $8.01B | $7.61B | $6.86B |
| EBITDA | $5.74B | $4.33B | $4.30B | $3.92B | $3.54B |
| Net income | $1.65B | $2.08B | $1.44B | $2.18B | $1.44B |
| Free cash flow | $2.19B | $1.37B | $1.66B | $904M | $2.48B |
| Capital expenditure | $610M | $503M | $622M | $481M | $379M |
| Total debt | $33.3B | $18.0B | $17.3B | $14.9B | $13.7B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Keurig Dr Pepper KDP | $49.8B | +28% | +43% | 17% | 14.8× | 6.3% |
| Coca-Cola Company (The) KO | $412B | +23% | +8% | 32% | 27.6× | 2.8% |
| PepsiCo PEP | $193B | -8% | +6% | 16% | 16.6× | -5.5% |
| Nestle NESN.SW | $266B | +11% | -2% | 16% | 19.0× | 1.3% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | KDP | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +17.2% | +8.9% | highest of 9 |
| 6-month return | +28.0% | +9.0% | highest of 9 |
| Distance from 52-week high | -3.3% | -8.5% | 3rd highest of 9 |
| Revenue growth (TTM) | +43.0% | +15.5% | highest of 9 |
| Operating margin | 16.6% | 13.3% | 4th highest of 9 |
| Forward P/E | 14.8× | 24.0× | 2nd cheapest of 8 |
| Growth the price implies (Req g, 7 yrs) | 6.3% | 4.4% | 4th most demanding of 9 |
| Growth delivered (Del g) | +7.4% | +13.3% | 2nd lowest of 9 |
| Hurdle (Req g minus delivered) | -1.1 pp | -8.4 pp | 3rd most demanding of 9 |
| ROIC minus cost of capital | -0.4 pp | +7.4 pp | 2nd lowest of 9 |
| EV / EBITDA | 15.0× | 15.4× | 5th cheapest of 9 |
| Net debt / EBITDA | 5.6× | 1.2× | most indebted of 9 |
| Bond spread | 94 bp | 76 bp | widest of 4 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Keurig Dr Pepper KDP | United States | $49.8B | +28% | +43% | 17% | 14.8× | 6.3% | +7.4% |
| Coca-Cola Europacific Partners CCEP | United States | $51.0B | +23% | +10% | 14% | 21.8× | 3.9% | +14.3% |
| Nongfu Spring 9633.HK | Hong Kong | $64.9B | -1% | +27% | 38% | 24.0× | -0.2% | +17.3% |
| Monster Beverage MNST | United States | $89.6B | +11% | +20% | 29% | 36.2× | 10.2% | +12.5% |
| Fomento Economico Mexicano SAB de CV Sponsored ADR FMX | United States | $26.1B | +7% | +18% | 9% | 24.2× | -6.9% | +13.8% |
| Coca-Cola HBC CCH.L | United Kingdom | $20.5B | -2% | +13% | 11% | 17.2× | 4.9% | +12.8% |
| Swire Pacific 0019.HK | Hong Kong | $17.0B | +23% | +7% | 12% | 11.4× | 6.9% | +2.9% |
| Varun Beverages VBL.NS | India | $15.7B | -14% | +22% | 17% | 42.8× | 37.2% | +26.8% |
| Coca-Cola Consolidated COKE | United States | $13.8B | +19% | +11% | 13% | n/a | -1.3% | +7.6% |
Keurig Dr Pepper has 22 bonds outstanding with $13.7B face value. The agencies rate it BBB-; its bonds trade like BBB. Weighted yield 5.73%, a spread of 94 bp over government bonds.