KDP FY 2025 Earnings Report — Keurig Dr Pepper Inc. Revenue & Financial Results | Market Cap Arena

Keurig Dr Pepper Inc.KDP

FY 2025 Earnings

Reported February 24, 2026

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2025	Prior Q	FY 2024	QoQ Change	YoY Change
Revenue	$16.6B	—	$15.4B	—	8.2%
Op. Income	$3.6B	—	$2.6B	—	40.8%
Gross Margin	52.4%	—	55.6%	—	-3.2pp
Net Margin	12.5%	—	9.4%	—	3.1pp
EPS (Diluted)	$1.53	—	$1.05	—	45.7%
Free Cash Flow	$1.5B	—	$1.7B	—	-9.1%

Revenue Flow

Item	Amount
REVENUE	$16.6B
Cost of Revenue	$7.9B
GROSS PROFIT	$8.7B
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$5.1B
Other Expenses	$0
Operating Expenses	$5.1B
Cost & Expenses	$13.0B
OPERATING INCOME	$3.6B
Interest Income	$0
Interest Expense	$754M
Other Income/Expenses	-$961M
INCOME BEFORE TAX	$2.7B
Income Tax Expense	$608M
Net Income from Continuing Ops	$2.1B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$2.1B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$2.1B
D&A	$753M
EBIT	$3.4B
EBITDA	$4.2B
EPS	$2
EPS Diluted	$2

Income Statement

Item	Amount
REVENUE	$16.6B
Cost of Revenue	$7.9B
GROSS PROFIT	$8.7B
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$5.1B
Other Expenses	$0
Operating Expenses	$5.1B
Cost & Expenses	$13.0B
OPERATING INCOME	$3.6B
Interest Income	$0
Interest Expense	$754M
Other Income/Expenses	-$961M
INCOME BEFORE TAX	$2.7B
Income Tax Expense	$608M
Net Income from Continuing Ops	$2.1B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$2.1B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$2.1B
D&A	$753M
EBIT	$3.4B
EBITDA	$4.2B
EPS	$2
EPS Diluted	$2

Cash Flow Statement

Item	Amount
Net Income	$2.1B
Depreciation & Amortization	$753M
Stock-Based Compensation	$97M
Deferred Income Tax	$45M
Other Non-Cash Items	$20M
Change in Working Capital	-$1.0B
OPERATING CASH FLOW	$2.0B
Capital Expenditure	-$486M
Acquisitions (Net)	-$149M
Purchases of Investments	$0
Sales/Maturities of Investments	$0
Other Investing Activities	$62M
NET CASH FROM INVESTING	-$573M
Net Debt Issuance	$575M
Common Stock Repurchased	-$9M
Common Dividends Paid	-$1.3B
Other Financing Activities	-$315M
NET CASH FROM FINANCING	-$999M
FREE CASH FLOW	$1.5B
Net Change in Cash	$454M

Balance Sheet

Item	Amount
Cash & Equivalents	$1.0B
Short-Term Investments	$0
Net Receivables	$1.7B
Inventory	$1.7B
Other Current Assets	$836M
TOTAL CURRENT ASSETS	$5.3B
PP&E (Net)	$3.2B
Goodwill	$20.2B
Intangible Assets	$23.7B
Long-Term Investments	$1.7B
Tax Assets	$36M
Other Non-Current Assets	$1.3B
TOTAL NON-CURRENT ASSETS	$50.2B
TOTAL ASSETS	$55.5B
Account Payables	$3.0B
Short-Term Debt	$3.1B
Deferred Revenue	$0
Other Current Liabilities	$2.2B
TOTAL CURRENT LIABILITIES	$8.3B
Long-Term Debt	$13.0B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$5.5B
Other Non-Current Liabilities	$3.1B
TOTAL NON-CURRENT LIABILITIES	$21.7B
TOTAL LIABILITIES	$29.9B
Common Stock	$14M
Additional Paid-In Capital	$19.8B
Retained Earnings	$5.6B
Treasury Stock	$0
Accum. Other Comp. Income	$102M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$25.5B
Minority Interest	$0
TOTAL EQUITY	$25.5B
TOTAL LIABILITIES & EQUITY	$55.5B
Total Debt	$16.1B
Net Debt	$15.1B