Keurig Dr Pepper Inc's income statement, balance sheet and cash flow statement as filed with the SEC (10-K and 10-Q), with the latest fiscal years and quarters. In its latest fiscal year (Dec 31, 2025 · FY), Keurig Dr Pepper Inc reported revenue of $16.6B (+8.2% year on year) and net income of $2.1B (+44.3% year on year).
| Line item | Dec 31, 2025 · FY | Dec 31, 2024 · FY | Dec 31, 2023 · FY | Dec 31, 2022 · FY |
|---|---|---|---|---|
| Net sales | $16.6B | $15.4B | $14.8B | $14.1B |
| Cost of sales | $7.6B | $6.8B | $6.7B | $6.7B |
| Gross profit | $9.0B | $8.5B | $8.1B | $7.3B |
| Selling, general, and administrative expenses | $5.4B | $5.0B | $4.9B | $4.6B |
| Impairment of goodwill | $0 | $306.0M | — | — |
| Impairment of intangible assets (excluding goodwill) | $78.0M | $412.0M | $2.0M | $477.0M |
| Other operating (income) expense, net | ($5.0M) | $207.0M | ($26.0M) | ($105.0M) |
| Income from operations | $3.6B | $2.6B | $3.2B | $2.6B |
| Interest expense | $754.0M | $735.0M | $496.0M | $693.0M |
| Other expense (income), net | $134.0M | ($60.0M) | ($61.0M) | $14.0M |
| Income before provision for income taxes | $2.7B | $1.9B | $2.8B | $1.7B |
| Income Tax Expense (Benefit) | $608.0M | $473.0M | $576.0M | $284.0M |
| Net income | $2.1B | $1.4B | $2.2B | $1.4B |
| Basic (in dollars per share) | $1.53 | $1.06 | $1.56 | $1.01 |
| Diluted (in dollars per share) | $1.53 | $1.05 | $1.55 | $1.01 |
| Basic (in shares) | 1.4B | 1.4B | 1.4B | 1.4B |
| Diluted (in shares) | 1.4B | 1.4B | 1.4B | 1.4B |
| Line item | Jun 30, 2026 · Q2 | Mar 31, 2026 · Q1 | Sep 30, 2025 · Q3 | Jun 30, 2025 · Q2 |
|---|---|---|---|---|
| Net sales | $7.3B | $4.0B | $4.3B | $4.2B |
| Cost of sales | $4.2B | $1.9B | $2.0B | $1.9B |
| Gross profit | $3.1B | $2.1B | $2.3B | $2.3B |
| Selling, general, and administrative expenses | $2.4B | $1.3B | $1.3B | $1.4B |
| Other operating expense (income), net | $41.0M | $0 | $1.0M | $1.0M |
| Income from operations | $628.0M | $756.0M | $995.0M | $898.0M |
| Interest expense, net | $336.0M | $281.0M | $188.0M | $180.0M |
| Other (income) expense, net | ($13.0M) | $118.0M | ($45.0M) | $0 |
| Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest, Total | $305.0M | $357.0M | $852.0M | $718.0M |
| Provision for income taxes | $95.0M | $87.0M | $190.0M | $171.0M |
| Net income | $210.0M | — | — | — |
| Net Income (Loss) Attributable to Noncontrolling Interest | $68.0M | — | — | — |
| Net income attributable to KDP | $142.0M | $270.0M | $662.0M | $547.0M |
| Basic (in dollars per share) | $0.04 | $0.20 | $0.49 | $0.40 |
| Diluted (in dollars per share) | $0.04 | $0.20 | $0.49 | $0.40 |
| Basic (in shares) | 1.4B | 1.4B | 1.4B | 1.4B |
| Diluted (in shares) | 1.4B | 1.4B | 1.4B | 1.4B |
| Line item | Dec 31, 2025 · FY | Dec 31, 2024 · FY | Dec 31, 2023 · FY | Dec 31, 2022 · FY |
|---|---|---|---|---|
| Cash and Cash Equivalent | $1.0B | $510.0M | $267.0M | $535.0M |
| Restricted Cash and Cash Equivalent, Current | $18.0M | $80.0M | — | $0 |
| Trade accounts receivable, net | $1.7B | $1.5B | $1.4B | $1.5B |
| Inventories | $1.7B | $1.3B | $1.1B | $1.3B |
| Prepaid expenses and other current assets | $818.0M | $606.0M | $598.0M | $471.0M |
| Total current assets | $5.3B | $4.0B | $3.4B | $3.8B |
| Property, plant, and equipment, net | $3.2B | $3.0B | $2.7B | $2.5B |
| Equity method investments | $1.7B | $1.5B | $1.4B | $1.0B |
| Goodwill | $20.2B | $20.1B | $20.2B | $20.1B |
| Intangible assets, net | $23.7B | $23.6B | $23.3B | $23.2B |
| Deferred tax assets | $36.0M | $39.0M | $31.0M | $35.0M |
| Other non-current assets | $1.3B | $1.2B | $1.1B | $1.3B |
| Total assets | $55.5B | $53.4B | $52.1B | $51.8B |
| Accounts payable | $3.0B | $3.0B | $3.6B | $5.2B |
| Accrued expenses | $1.4B | $1.6B | $1.2B | $1.2B |
| Structured payables | $25.0M | $41.0M | $117.0M | $137.0M |
| Short-term borrowings and current portion of long-term obligations | $3.1B | $2.6B | $3.2B | $895.0M |
| Other current liabilities | $785.0M | $835.0M | $714.0M | $685.0M |
| Total current liabilities | $8.3B | $8.1B | $8.9B | $8.1B |
| Long-term obligations | $13.0B | $12.9B | $9.9B | $11.1B |
| Deferred tax liabilities | $5.5B | $5.4B | $5.8B | $5.7B |
| Other non-current liabilities | $3.1B | $2.8B | $1.8B | $1.8B |
| Total liabilities | $29.9B | $29.2B | $26.5B | $26.7B |
| Preferred Stock, Value, Issued | $0 | $0 | $0 | $0 |
| Common Stock, Value, Issued | $14.0M | $14.0M | $14.0M | $14.0M |
| Additional paid-in capital | $19.8B | $19.7B | $20.8B | $21.4B |
| Retained earnings | $5.6B | $4.8B | $4.6B | $3.5B |
| Accumulated other comprehensive income (loss) | $102.0M | ($276.0M) | $315.0M | $129.0M |
| Total equity | $25.5B | $24.2B | $25.7B | $25.1B |
| Stockholders' Equity Attributable to Noncontrolling Interest | $0 | $0 | $0 | ($1.0M) |
| Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest | $25.5B | $24.2B | $25.7B | $25.1B |
| Total liabilities and stockholders' equity | $55.5B | $53.4B | $52.1B | $51.8B |
| Line item | Jun 30, 2026 | Mar 31, 2026 | Sep 30, 2025 | Jun 30, 2025 |
|---|---|---|---|---|
| Cash and cash equivalents | $1.5B | $898.0M | $516.0M | $509.0M |
| Restricted cash and restricted cash equivalents | $36.0M | $17.8B | $53.0M | $56.0M |
| Trade accounts receivable, net | $2.4B | $1.5B | $1.5B | $1.5B |
| Inventories | $3.9B | $1.8B | $1.8B | $1.7B |
| Prepaid expenses and other current assets | $1.6B | $1.0B | $795.0M | $802.0M |
| Total current assets | $9.5B | $23.1B | $4.7B | $4.6B |
| Property, plant, and equipment, net | $6.3B | $3.2B | $3.0B | $3.0B |
| Equity method investments | $1.7B | $1.7B | $1.6B | $1.6B |
| Goodwill | $29.8B | $20.2B | $20.2B | $20.2B |
| Intangible assets, net | $38.1B | $23.7B | $23.8B | $23.8B |
| Deferred tax assets | $192.0M | $17.0M | $36.0M | $36.0M |
| Other non-current assets | $2.0B | $1.2B | $1.2B | $1.1B |
| Total assets | $87.6B | $73.1B | $54.6B | $54.4B |
| Accounts payable | $6.3B | $2.8B | $3.0B | $3.1B |
| Accrued expenses | $2.4B | $1.5B | $1.4B | $1.3B |
| Structured payables | $1.0B | $22.0M | $30.0M | $31.0M |
| Short-term borrowings and current portion of long-term obligations | $8.4B | $4.8B | $2.3B | $2.0B |
| Other current liabilities | $1.6B | $878.0M | $823.0M | $777.0M |
| Total current liabilities | $19.7B | $10.0B | $7.5B | $7.2B |
| Long-term obligations | $21.6B | $20.9B | $13.5B | $13.9B |
| Deferred tax liabilities | $8.9B | $5.5B | $5.4B | $5.5B |
| Other non-current liabilities | $3.7B | $3.2B | $2.8B | $2.8B |
| Total liabilities | $54.0B | $39.5B | $29.3B | $29.4B |
| Temporary Equity, Carrying Amount, Attributable to Parent | $4.4B | $4.4B | — | — |
| Preferred stock, par value (in dollars per share) | $0.01 | $0.01 | $0.01 | $0.01 |
| Preferred Stock, Value, Issued | $0 | $0 | $0 | $0 |
| Common Stock, Value, Issued | $14.0M | $14.0M | $14.0M | $14.0M |
| Additional paid-in capital | $19.8B | $19.8B | $19.8B | $19.7B |
| Retained earnings | $5.3B | $5.6B | $5.6B | $5.2B |
| Accumulated other comprehensive (loss) income | ($116.0M) | ($116.0M) | ($24.0M) | $10.0M |
| Total stockholders' equity | $25.0B | $25.3B | $25.3B | $25.0B |
| Non-controlling interests | $4.2B | $3.9B | — | — |
| Total equity | $29.2B | $29.2B | — | — |
| Total liabilities, convertible preferred stock, and equity | $87.6B | $73.1B | $54.6B | $54.4B |
| Temporary Equity, Shares Authorized | 4.5M | 4.5M | — | — |
| Line item | Dec 31, 2025 · FY | Dec 31, 2024 · FY | Dec 31, 2023 · FY | Dec 31, 2022 · FY |
|---|---|---|---|---|
| Net income | $2.1B | $1.4B | $2.2B | $1.4B |
| Depreciation expense | $455.0M | $422.0M | $402.0M | $399.0M |
| Amortization of intangibles | $138.0M | $133.0M | $137.0M | $138.0M |
| Other amortization expense | $160.0M | $178.0M | $181.0M | $172.0M |
| Provision for sales returns | $60.0M | $70.0M | $61.0M | $61.0M |
| Deferred income taxes | $45.0M | ($254.0M) | ($4.0M) | ($289.0M) |
| Employee stock-based compensation expense | $97.0M | $98.0M | $116.0M | $52.0M |
| Gain (loss) on disposition of property, plant, and equipment | ($2.0M) | $16.0M | ($1.0M) | ($80.0M) |
| Unrealized (gain) loss on foreign currency | ($6.0M) | $33.0M | ($13.0M) | $26.0M |
| Unrealized (gain) loss on derivatives | ($1.0M) | $91.0M | $31.0M | $383.0M |
| Settlements of interest rate contracts | $0 | $0 | $54.0M | $125.0M |
| Earnings of equity method investments | $81.0M | ($42.0M) | ($33.0M) | $5.0M |
| Earned equity from distribution arrangements | $54.0M | — | — | — |
| Impairment of goodwill | $0 | $306.0M | — | — |
| Impairment of intangible assets (excluding goodwill) | $78.0M | $412.0M | $2.0M | $477.0M |
| Other, net | ($26.0M) | ($2.0M) | $6.0M | $28.0M |
| Trade accounts receivable | $202.0M | ($209.0M) | $70.0M | ($398.0M) |
| Inventories | $405.0M | ($92.0M) | $182.0M | ($426.0M) |
| Income taxes receivable and payable, net | ($141.0M) | $133.0M | ($199.0M) | ($105.0M) |
| Other current and non-current assets | $216.0M | ($227.0M) | ($192.0M) | ($456.0M) |
| Accounts payable and accrued expenses | ($212.0M) | ($196.0M) | ($1.6B) | $903.0M |
| Other current and non-current liabilities | $173.0M | $0 | $10.0M | $207.0M |
| Net change in operating assets and liabilities | $1.0B | ($591.0M) | ($1.7B) | ($275.0M) |
| Net cash provided by operating activities | $2.0B | $2.2B | $1.3B | $2.8B |
| Acquisition of business, net of cash acquired | $149.0M | ($1.0B) | — | — |
| Purchases of property, plant, and equipment | $486.0M | ($563.0M) | ($425.0M) | ($353.0M) |
| Proceeds from sale of property, plant, and equipment | ($14.0M) | ($4.0M) | ($9.0M) | ($168.0M) |
| Purchases of intangibles | $17.0M | $59.0M | $56.0M | $26.0M |
| Investments in unconsolidated affiliates | $1.0M | ($7.0M) | ($316.0M) | ($962.0M) |
| Other, net | ($66.0M) | $11.0M | $4.0M | $6.0M |
| Net cash used in investing activities | ($573.0M) | ($1.6B) | ($784.0M) | ($1.1B) |
| Proceeds from issuance of Notes | $2.0B | $3.0B | $0 | $3.0B |
| Repayments of Notes | ($1.0B) | ($1.1B) | ($500.0M) | ($3.4B) |
| Net issuance (repayment) of commercial paper | $594.0M | ($480.0M) | — | — |
| Proceeds from term loan | $0 | $990.0M | — | — |
| Repayment of term loan | $990.0M | — | $0 | $0 |
| Proceeds from structured payables | $31.0M | $49.0M | $130.0M | $155.0M |
| Repayments of structured payables | $47.0M | — | — | — |
| Cash dividends paid | $1.3B | ($1.2B) | ($1.1B) | ($1.1B) |
| Repurchases of common stock, inclusive of excise tax obligation | ($9.0M) | ($1.1B) | ($706.0M) | ($379.0M) |
| Tax withholdings related to net share settlements | $31.0M | ($61.0M) | ($62.0M) | ($15.0M) |
| Payments on finance leases | ($129.0M) | ($115.0M) | ($95.0M) | ($90.0M) |
| Deferred financing charges paid | $134.0M | — | — | — |
| Other, net | ($5.0M) | ($23.0M) | ($6.0M) | ($46.0M) |
| Net cash used in financing activities | ($999.0M) | ($223.0M) | ($832.0M) | ($1.7B) |
| Line item | Jun 30, 2026 · YTD | Mar 31, 2026 · Q1 | Sep 30, 2025 · YTD | Jun 30, 2025 · YTD |
|---|---|---|---|---|
| Net income | $480.0M | $270.0M | $1.7B | $1.1B |
| Depreciation expense | $322.0M | $114.0M | $336.0M | $217.0M |
| Amortization of intangibles | $161.0M | $37.0M | $101.0M | $68.0M |
| Amortization of inventory step-up | $314.0M | — | — | — |
| Other amortization expense | $82.0M | $34.0M | $117.0M | $63.0M |
| Provision for sales returns | $67.0M | $11.0M | $42.0M | $24.0M |
| Deferred income taxes | ($22.0M) | $4.0M | ($39.0M) | $4.0M |
| Employee stock-based compensation expense | $62.0M | $30.0M | $70.0M | $45.0M |
| Amortization of Debt Issuance Costs | $109.0M | $98.0M | — | — |
| Loss (gain) on disposal of property, plant, and equipment | $10.0M | $10.0M | ($3.0M) | ($6.0M) |
| Unrealized gain on foreign currency | ($48.0M) | $20.0M | ($7.0M) | $6.0M |
| Unrealized gain on derivatives | ($171.0M) | ($64.0M) | ($127.0M) | ($56.0M) |
| Settlements of interest rate contracts | $70.0M | $70.0M | — | — |
| Earnings of equity method investments | $40.0M | $16.0M | $62.0M | $27.0M |
| Earned equity from distribution arrangements | $8.0M | $8.0M | $21.0M | $10.0M |
| Other, net | $10.0M | ($14.0M) | $3.0M | ($5.0M) |
| Trade accounts receivable | $50.0M | $118.0M | ($16.0M) | $3.0M |
| Inventories | $133.0M | ($101.0M) | ($518.0M) | ($416.0M) |
| Income taxes receivable and payable, net | $15.0M | $43.0M | ($27.0M) | ($86.0M) |
| Other current and non-current assets | ($324.0M) | ($216.0M) | ($183.0M) | ($136.0M) |
| Accounts payable and accrued expenses | ($88.0M) | ($129.0M) | ($140.0M) | ($93.0M) |
| Other current and non-current liabilities | ($104.0M) | $10.0M | $13.0M | ($7.0M) |
| Net change in operating assets and liabilities | ($318.0M) | ($275.0M) | ($871.0M) | ($735.0M) |
| Net cash provided by operating activities | $1.2B | $281.0M | $1.3B | $640.0M |
| Acquisitions of businesses, net of cash acquired | $16.6B | — | $114.0M | $111.0M |
| Purchases of property, plant, and equipment | ($297.0M) | ($116.0M) | ($338.0M) | ($226.0M) |
| Proceeds from sales of property, plant, and equipment | $19.0M | $19.0M | $14.0M | $13.0M |
| Purchases of intangibles | ($4.0M) | ($2.0M) | ($16.0M) | ($16.0M) |
| Other, net | ($2.0M) | $1.0M | $65.0M | $63.0M |
| Net cash used in investing activities | ($16.9B) | ($98.0M) | ($390.0M) | ($278.0M) |
| Proceeds from Issuance of Senior Long-Term Debt | $6.1B | $6.0B | $2.0B | $2.0B |
| Repayments of Senior Debt | $0 | — | ($529.0M) | ($529.0M) |
| Net repayment of commercial paper | ($232.0M) | ($21.0M) | ($225.0M) | ($139.0M) |
| Proceeds from delayed draw term loan | $3.6B | $3.6B | — | — |
| Repayment of term loan | ($405.0M) | $0 | ($990.0M) | ($990.0M) |
| Proceeds from Issuance of Convertible Preferred Stock | $4.4B | $4.5B | — | — |
| Proceeds from Noncontrolling Interests | $3.9B | $3.9B | — | — |
| Proceeds from structured payables | $333.0M | $3.0M | $23.0M | $16.0M |
| Repayments of structured payables | ($343.0M) | ($7.0M) | ($34.0M) | ($26.0M) |
| Payments of Ordinary Dividends, Common Stock | $624.0M | — | — | — |
| Payments of Ordinary Dividends, Preferred Stock and Preference Stock | ($54.0M) | — | — | — |
| Payments for Repurchase of Common Stock | $0 | — | ($9.0M) | ($9.0M) |
| Tax withholdings related to net share settlements | ($31.0M) | ($25.0M) | ($29.0M) | ($28.0M) |
| Payments on finance leases | ($77.0M) | ($34.0M) | ($96.0M) | ($63.0M) |
| Deferred financing charges paid | ($44.0M) | ($28.0M) | ($103.0M) | — |
Keurig Dr Pepper Inc score and earnings-call analysis · All covered companies
Figures as reported in SEC filings. General information, not investment advice.