Keurig Dr Pepper Inc.
- Open
- 29.74
- Day high
- 30.31
- Day low
- 29.72
- Prev close
- 29.68
- Volume
- 5.0M
- Mkt cap
- $41.2B
- P/E (TTM)
- 22.4
- EPS (TTM)
- $1.35
- P/B
- 1.6
- P/S
- 2.4
- Yield
- 3.04%
- Per share
- $0.92
Keurig Dr Pepper Inc. (KDP) is a Consumer Defensive company listed on NASDAQ. The stock is down 11% over the past year. Drillr has 2 published research articles covering KDP.
Keurig Dr Pepper Inc. (KDP) financials & analyst ratings
Fundamentals (TTM)
Analyst consensus · 5 analysts
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
KDP earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| Apr 23, 2026 | $0.37 | $0.39 | +4.7% | $4.0B | +3.7% |
| Feb 24, 2026 | $0.59 | $0.60 | +1.9% | $4.5B | +3.2% |
| Jul 24, 2025 | $0.49 | $0.49 | +1.0% | $4.2B | +0.6% |
| Apr 24, 2025 | $0.38 | $0.42 | +9.8% | $3.6B | +1.9% |
| Feb 25, 2025 | $0.57 | $0.58 | +1.6% | $4.1B | +1.5% |
| Oct 24, 2024 | $0.51 | $0.51 | +0.0% | $3.9B | -0.8% |
| Jul 25, 2024 | $0.45 | $0.45 | +0.0% | $3.9B | +0.2% |
| Apr 25, 2024 | $0.35 | $0.38 | +8.6% | $3.5B | +1.8% |
| Feb 22, 2024 | $0.54 | $0.55 | +1.9% | $3.9B | -1.2% |
| Oct 26, 2023 | $0.47 | $0.48 | +2.1% | $3.8B | +1.0% |
| Jul 27, 2023 | $0.40 | $0.42 | +5.0% | $3.8B | +2.7% |
| Apr 27, 2023 | $0.33 | $0.34 | +3.0% | $3.4B | +1.7% |
KDP insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| Jun 3, 2026 | Stephens Angela A.officer: Senior VP & Controller | Tax | 1,161 | $30.20 |
| Jun 3, 2026 | Stephens Angela A.officer: Senior VP & Controller | Option | 2,950 | — |
| May 22, 2026 | Cofer Timothy P.director, officer: CEO & President | Option | 88,106 | — |
| May 22, 2026 | Cofer Timothy P.director, officer: CEO & President | Tax | 34,670 | $28.69 |
| Apr 29, 2026 | OLIVEIRA RAFAELofficer: CEO Coffee Operating Unit | Grant | 177,620 | — |
| Mar 6, 2026 | DeNooyer Mary Bethofficer: Chief Human Resources Officer | Grant | 83,132 | — |
| Mar 6, 2026 | Shoemaker Anthonyofficer: Chief Legal Officer | Grant | 103,915 | — |
| Mar 6, 2026 | Lemire Olivierofficer: President, U.S. Coffee | Grant | 48,494 | — |
| Mar 6, 2026 | Gamgort Robert Jamesdirector | Grant | 10,392 | — |
| Mar 6, 2026 | Gorli Ericofficer: President, US Refreshment Bev. | Tax | 2,659 | $28.05 |
| Mar 6, 2026 | Cofer Timothy P.director, officer: CEO & President | Grant | 168,861 | — |
| Mar 6, 2026 | Lemire Olivierofficer: President, U.S. Coffee | Tax | 1,239 | $28.05 |
| Mar 6, 2026 | O'Toole Amie Thuenerdirector | Grant | 6,062 | — |
| Mar 6, 2026 | Cofer Timothy P.director, officer: CEO & President | Grant | 225,148 | — |
| Mar 6, 2026 | Boston Oraydirector | Grant | 6,062 | — |
Source: KDP SEC Form 4 filings, latest Jun 3, 2026. For informational purposes only — not investment advice.
See the full KDP insider & 13F page →KDP research & analysis
Keurig Dr Pepper Cements Coffee Empire With $4.5B Preferred Issue as JDE Integration Lands
KDP's first earnings since closing the €14.86B JDE Peet's acquisition reveals a financing structure using $4.5B in convertible preferred equity and $4B from JV monetization, landing net leverage a full turn below consensus expectations. The combined $15B coffee platform carries 22-25% EBITDA margins in single-serve and out-of-home channels, materially above KDP's legacy beverage portfolio, with the stock trading at a 25% discount to peers despite faster deleveraging capacity.
Iran War Oil Shock: USO Up 24%, XLE Up 8% — Which ETFs Have More Room to Run?
War disruptions choke sugar exports from a key hub, spiking prices to benefit producers ADM and BG while pressuring Hershey, Mondelez, and KDP margins. Bunge leads conviction with 32% revenue growth and attractive P/E; Hershey trails as most vulnerable.
ADMBGHSY
Keurig Dr Pepper Inc. company profile
Overview
Keurig Dr Pepper Inc. (NASDAQ:KDP) is a leading North American beverage company formed through the 2018 merger of Keurig Green Mountain and Dr Pepper Snapple Group. The company traces its roots back to 1981 and has evolved into one of the largest beverage manufacturers in the United States, operating across multiple beverage categories including coffee systems, soft drinks, and specialty beverages. Headquartered in Burlington, Massachusetts, KDP serves both retail consumers and commercial customers through an extensive distribution network spanning the United States, Canada, Mexico, and other international markets.
Business
Keurig Dr Pepper operates as a diversified beverage company across four main business segments that collectively generate approximately $15.4 billion in annual revenue. The U.S. Refreshment Beverages segment represents the largest portion of the business, manufacturing and distributing packaged beverages under iconic brands such as Dr Pepper, Canada Dry, A&W, 7UP, Sunkist, Snapple, and Hawaiian Punch. This segment includes both carbonated soft drinks and non-carbonated beverages like bottled water, juice drinks, and sports drinks, generating roughly 60% of total company revenue. The U.S. Coffee segment operates the Keurig single-serve coffee system, which includes manufacturing and selling coffee brewing machines (brewers) and the proprietary K-Cup pods that contain pre-measured coffee grounds. This segment also encompasses specialty coffee brands and partnerships with major coffee companies. The Keurig system revolutionized home coffee consumption by allowing consumers to brew individual cups of coffee quickly and consistently. This segment contributes approximately 25% of total revenue. The Beverage Concentrates segment manufactures and sells liquid concentrates and syrups to bottling partners, who then add carbonated or still water to create finished beverages for retail sale. This asset-light model allows KDP to leverage its brand portfolio without the capital intensity of bottling operations. The International segment primarily focuses on Mexico and Canada, manufacturing and distributing carbonated soft drinks, bottled water, and other beverages under brands like Peñafiel and Squirt. These two segments combined account for the remaining 15% of revenue. The company has been actively expanding into high-growth beverage categories, particularly energy drinks through acquisitions and partnerships with brands like C4 Energy, GHOST, Black Rifle Coffee, and Bloom Energy, positioning itself to capture market share in the fastest-growing segment of the beverage industry.
Revenue model
Keurig Dr Pepper generates revenue through multiple complementary business models across its portfolio. The company's product sales model dominates its revenue stream, selling finished beverages directly to retailers, distributors, and foodservice operators. In the coffee segment, KDP employs a unique razor-and-blade strategy where it sells Keurig brewing machines at relatively low margins to drive adoption, then generates recurring revenue from higher-margin K-Cup pod sales. This creates a captive customer base that must purchase proprietary pods to use their brewers. The concentrate and syrup sales model provides KDP with an asset-light, high-margin revenue stream where the company sells beverage concentrates to independent bottlers who handle the capital-intensive bottling and distribution operations. This model is particularly prevalent with brands like Dr Pepper and 7UP. Additionally, KDP operates contract manufacturing services for private label and emerging brands, leveraging its production capacity to generate additional revenue. KDP's customers span multiple channels including large retailers like Walmart and Kroger, convenience stores, restaurants, office coffee distributors, and direct-to-consumer sales through its website. The company's margins are influenced by several key factors: commodity price fluctuations (particularly green coffee beans, aluminum, and sugar) can significantly impact input costs, while the company's pricing power varies by brand strength and competitive positioning. Transportation and logistics costs affect distribution margins, especially given the company's extensive geographic footprint. The company benefits from economies of scale in manufacturing and procurement, while investments in automation and productivity improvements help offset inflationary pressures. Market share dynamics and promotional activity levels also influence profitability, as does the company's ability to innovate and expand into higher-growth, higher-margin beverage categories like energy drinks and premium coffee offerings.
Competitive moat
Keurig Dr Pepper possesses a moderate to strong competitive moat built primarily on brand strength, distribution advantages, and switching costs in its coffee system. The company's beverage brands, particularly Dr Pepper, Canada Dry, and Snapple, have established strong consumer loyalty and brand recognition accumulated over decades. Dr Pepper, in particular, enjoys a unique flavor profile that has cultivated a devoted consumer base, providing pricing power and shelf space advantages. The Keurig coffee system represents the strongest moat component through its proprietary ecosystem of brewers and K-Cup pods. Once consumers invest in a Keurig brewer, they face switching costs and convenience factors that encourage continued pod purchases. The company has built an extensive network of coffee brand partnerships, making the Keurig system a platform that benefits from network effects as more brands join the ecosystem. KDP's distribution network and route-to-market capabilities provide significant competitive advantages, particularly in the fragmented beverage industry where shelf space and retailer relationships are crucial. The company's scale allows it to negotiate favorable terms with retailers and maintain prominent product placement. However, the moat faces several challenges. The beverage industry is highly competitive with large players like Coca-Cola and PepsiCo possessing similar or superior resources and distribution capabilities. Private label competition continues to pressure branded products, particularly during economic downturns. In coffee, competitors like Nespresso offer alternative single-serve systems, while traditional coffee brewing methods and coffee shops provide substitutes. The company's brands, while strong, are not immune to changing consumer preferences toward healthier options, which has pressured traditional soft drink categories. Additionally, the concentrate business model, while asset-light, depends on bottling partners and can be disrupted by changes in those relationships or by partners' strategic decisions.
Risks & safety
KDP presents a moderate margin of safety with manageable debt levels but some liquidity concerns and mixed valuation metrics. • Liquidity and Solvency: Current ratio of 0.47 indicates potential short-term liquidity pressure, though this is partially offset by strong operational cash flow generation of $2.2 billion annually. Cash position of $510 million provides limited buffer. Debt-to-equity ratio of 0.71 represents moderate leverage that is manageable given stable cash flows. • Valuation Metrics: Trading at 18.2x EV/EBITDA and 30.4x P/E ratio, suggesting premium valuation that limits margin of safety. Graham number of $20.58 compared to current price around $35 indicates potential overvaluation from a traditional value perspective. • Other Considerations: Strong free cash flow generation of $1.7 billion provides financial flexibility. Diversified revenue streams across multiple beverage categories reduce concentration risk. However, exposure to commodity price volatility and competitive pressures in core categories present ongoing risks to cash flow stability.
Recent development
Over the past several years, KDP has executed a strategic transformation focused on portfolio diversification and expansion into high-growth beverage categories. The company has aggressively entered the energy drink market through multiple acquisitions and partnerships, including C4 Energy, GHOST (majority stake acquired in 2024), Black Rifle Coffee, and Bloom Energy. This strategy aims to establish KDP as a major player in the fastest-growing segment of the beverage industry, with management targeting double-digit market share in energy drinks. The company has also expanded its sports and hydration portfolio through partnerships with brands like Electrolit, capitalizing on the growing sports hydration category. In coffee, KDP has focused on innovation with new brewing platforms like K-Iced for cold coffee preparation and expanded its partnership network to include premium coffee brands like La Colombe. International expansion has been another key focus, particularly in Mexico where the company has invested heavily in distribution infrastructure and manufacturing capabilities. The Mexico operations have shown strong growth with double-digit volume increases, while the company has also strengthened its Canadian market presence. KDP has emphasized operational efficiency and productivity improvements across its network, implementing automation and optimizing its manufacturing and distribution footprint. The company has also been actively managing its brand portfolio, focusing resources on higher-growth categories while maintaining its core beverage franchises. Recent initiatives include expanding into premium and functional beverage categories, leveraging its distribution network to support partner brands, and investing in direct-to-consumer capabilities and digital marketing platforms.
KDP company profile · for informational purposes only — not investment advice.
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