Keurig Dr Pepper (KDP): financials, SEC filings and peers
Keurig Dr Pepper (KDP) is a soft drinks & non-alcoholic beverages company in the Consumer Staples sector of the S&P 500, headquartered in Burlington, Massachusetts.
It was founded in 1981 and joined the S&P 500 on June 21, 2022.
Its fiscal year ends in December, and its shares trade on the Nasdaq.
In its SEC filings it is classified as “Beverages”.
Keurig Dr Pepper at a glance
- Revenue (12 months)
- $23.1B
- Revenue growth
- +43.0%
- Operating margin
- 15.6%
- Net income (12 months)
- $1.6B
- Free cash flow (12 months)
- $2.3B
- Cash
- $1.3B
- Debt
- $24.4B
- Diluted EPS (12 months)
- $1.09
Twelve months to September 30, 2026, from the 10-Q filed November 9, 2026.
Latest twelve months
Over the twelve months to September 30, 2026, Keurig Dr Pepper reported revenue of $23.1 billion, up a strong 43.0% from $16.2 billion a year earlier.
Its operating margin was 15.6%, down 1.5 percentage points from a year earlier: for every $100 of sales, about $16 was left as operating profit.
Net income was $1.6 billion (7.1% of revenue), 4.1% higher than a year earlier.
Operating cash flow was $2.9 billion and capital spending $605 million, leaving free cash flow of $2.3 billion (10.1% of revenue).
At the end of the period it held $1.3 billion in cash and $24.4 billion in debt, a net debt position of $23.1 billion.
Five-year trend
- Revenue went from $11.6 billion in fiscal 2020 to $16.6 billion in fiscal 2025, about 7.4% a year.
- Revenue has grown for 5 fiscal years in a row.
- Operating margin has been steady, around 21.5%.
- Free cash flow was positive in each of the last 6 fiscal years.
| Fiscal year | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Revenue | $12.7B | $14.1B | $14.8B | $15.4B | $16.6B |
| Revenue growth | 9.2% | 10.8% | 5.4% | 3.6% | 8.2% |
| Operating margin | 22.8% | 18.5% | 21.5% | 16.9% | 21.5% |
| Net income | $2.1B | $1.4B | $2.2B | $1.4B | $2.1B |
| Free cash flow | $2.5B | $2.5B | $904M | $1.7B | $1.5B |
| Diluted EPS | $1.50 | $1.01 | $1.55 | $1.05 | $1.53 |
Fiscal years as reported in Keurig Dr Pepper’s 10-K filings. Free cash flow is operating cash flow minus capital spending.
Recent SEC filings
- 10-Q filed November 9, 2026 — quarterly report
- 8-K filed November 3, 2026 — Earnings results
- 8-K filed October 1, 2026 — Other event
- 8-K filed September 28, 2026 — Other event
- 8-K filed September 16, 2026 — Other event
- 8-K filed September 1, 2026 — Other event
- 8-K filed August 12, 2026 — Executive or director change
- 10-Q filed August 10, 2026 — quarterly report
Companies like Keurig Dr Pepper
Other S&P 500 companies in Soft Drinks & Non-alcoholic Beverages:
- KOCoca-Cola Company (The)Atlanta, Georgia
- MNSTMonster BeverageCorona, California
- PEPPepsiCoPurchase, New York
More from Consumer Staples
Questions about Keurig Dr Pepper
Is Keurig Dr Pepper's revenue growing?
Yes. Revenue for the twelve months to September 30, 2026 was $23.1 billion, up 43.0% from a year earlier, according to its SEC filings.
Is Keurig Dr Pepper profitable?
Yes. It earned $1.6 billion in net income over the twelve months to September 30, 2026, a net margin of 7.1%.
Does Keurig Dr Pepper have more cash or more debt?
At September 30, 2026 it had $1.3 billion in cash and $24.4 billion in debt, so more debt than cash.
When did Keurig Dr Pepper last file financial results?
Its latest quarterly report (10-Q) was filed with the SEC on November 9, 2026.
Which companies are similar to Keurig Dr Pepper?
In the S&P 500, Keurig Dr Pepper is grouped in Soft Drinks & Non-alcoholic Beverages within the Consumer Staples sector. Coca-Cola Company (The) (KO), Monster Beverage (MNST), PepsiCo (PEP) are in the same group.
Understand the numbers
Source: Keurig Dr Pepper’s filings with the U.S. Securities and Exchange Commission (EDGAR), retrieved November 11, 2026. Figures are as reported by the company and may be restated. This page is for information only and is not financial advice.