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Keurig Dr PepperKDP

Legal name
Keurig Dr Pepper Inc.
Sector
Consumer
Industry
Beverages
Exchange
Nasdaq

Stock Price $KDP

Latest filings

You are here#12 of 25 in Consumer Staples by market cap

Filing record · 2016–202610-K1210-Q338-K216

KDP filed 12 annual reports (10-K), 33 quarterly reports (10-Q) and 216 current reports (8-K) between 2016 and 2026.

  1. Material agreement8-K · Jun ’17Jun ’17
  2. Leadership change8-K · Jul ’19Jul ’19
  3. Leadership change8-K · Feb ’22Feb ’22
  4. Material agreement8-K · Dec ’25Dec ’25

01—Key figures

Source: 10-KFY2025
Source: 10-KFY2025
Source: 10-KFY2025
Source: 10-KFY2025

Revenue Trend

Year-over-year comparison from 10-K annual reports

  18. $16.60B
YoY changeLargest recent move+49.4%in FY19Latest +8.2%

Latest bar from 10-KFY2025Click a bar to open its SEC filing

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All KDP Financial Metrics60 metrics

Income Statement15

Balance Sheet26

Cash Flow14

Per Share5

02—Overview

Keurig Dr Pepper Financial Overview 2021–2025

Updated Nov 4, 2026

KDP grew Q2 2026 net sales 75.6% to $7.31 billion, yet diluted EPS collapsed to $0.04a from $0.40. That gap is the story. A steadily growing beverage business is financing a leveraged leap into global coffee through JDE Peet's, and per-share earnings are the price of admission until integration and the planned separation play out.

The base was solid before the deal. Net sales rose from $12.68 billion in FY2021 to $16.60 billionb in FY2025, including 8.2% growth in the final year. Operating income jumped 38.0% to $3.58 billion in FY2025 as impairments faded. U.S. Refreshment Beverages sales climbed 11.9% to $10.44 billion, helped by GHOST. U.S. Coffee managed only 0.6% growth, with appliance volume down 19.9%. Dividends paid totaled $1.25 billion in FY2025, while operating cash flow slipped to $1.99 billion from $2.22 billion.

The balance sheet now carries the weight. Total assets rose from $55.46 billion at year-end FY2025 to $87.62 billionc at June 30, 2026. Moody's and S&P ratings sit at Baa3 and BBB-, the lowest investment-grade rung. At the close of FY2025 (December 30, 2025), the stock traded at $28.01, or 18.3x earnings, for a market cap of $38.1 billion. That valuation predates the acquisition's closing and its heavier debt load.

Recent Developments (Q1 and Q2 2026)

KDP closed the JDE Peet's deal on April 1, 2026, and the Q1 2026 quarter shows the cost of getting there. Acquisition and separation costs hit about $298 milliond pre-tax, and net interest expense rose 89.9% to $281 million. In Q2 2026, legacy KDP net sales grew 7.3%, and Adjusted diluted EPS rose 16.3% to $0.57. JDE Peet's added $414 million of Adjusted operating income. Management reaffirmed 2026 guidance of $25.9-$26.4 billion in net sales. It also sold its Chobani stake and Allentown assets for $925 million to cut debt. Russ Torres, from Kimberly-Clark, becomes Coffee CEO on November 3, 2026.

Bull case: the core beverage business is healthy, and leverage is targeted near 4.1x by year-end. Bear case: U.S. Coffee sales fell 3.2% in Q2 2026, and a $1.5 billione antitrust damages claim carries no accrual. At $31.10, the stock traded at 20.3x earnings as of the Q2 2026 report date of August 9, 2026, not today.

What to watch: Torres's integration of JDE Peet's before the early 2027 separation; progress toward the 4.1x leverage target

03—Filings

Recent SEC Filings

  1. 8-KKeurig Dr Pepper 8-K Report, Financial Results (Nov 3, 2026)
  2. 8-KKeurig Dr Pepper 8-K Report, Corporate Update (Oct 1, 2026)Keurig Dr Pepper Inc. (NASDAQ: KDP) filed a Form 8-K on October 1, 2026, under Item 8.01 (Other Events) to announce the appointment of Russ Torres as Chief Executive Officer of the Company's Coffee Operating Unit and future Chief Executive Officer of Global Coffee Co., the standalone entity expected to result from the previously announced separation of the Company's coffee and beverage businesses. The appointment is effective November 3, 2026. Torres most recently served as President and Chief Operating Officer of Kimberly-Clark Corporation, and will report to KDP CEO Tim Cofer, who will become CEO of Beverage Co. following separation. Torres will also join the future Global Coffee Co. Board of Directors upon the planned separation, which is targeted for early 2027. The filing's press release states that Global Coffee Co. will generate approximately $16 billion in annual revenue, employ more than 25,000 people, and serve consumers in over 100 markets, with brands including Keurig, Jacobs, Peet's, L'OR, and Green Mountain Coffee Roasters. Pamela Patsley, KDP Board Chairman, will serve as Chairman of the future Global Coffee Co. Board. In his role before separation, Torres will lead the integration of KDP's and JDE Peet's coffee operations. Cofer stated that the base business is healthy and that integration and deleveraging work is on plan. For investors, the key takeaways are the leadership structure for the planned coffee separation and the ongoing integration of JDE Peet's. The filing's forward-looking statements flag risks including completion of the separation within the anticipated timeframe, retention of key executives, debt incurred for the JDE Peet's acquisition, potential credit rating downgrades, and integration challenges.
  3. 8-KKeurig Dr Pepper 8-K Report, Corporate Update (Sep 28, 2026)On September 28, 2026, Keurig Dr Pepper Inc. (KDP) disclosed in an Item 8.01 (Other Events) report that its wholly-owned subsidiaries DPS Holdings Inc. and Mott's LLP, along with certain other affiliates, completed previously announced transactions with FHU US Holdings, LLC and certain of its affiliates (collectively, "Chobani"). The transactions had two components. First, Chobani redeemed all of the Company's indirect equity interests in Chobani for aggregate consideration of $800 million, consisting of $400 million in cash and a $400 million promissory note issued by Chobani to a Company subsidiary, which matures on December 26, 2026. Second, the Company sold certain assets, including its leasehold interests in two facilities in Allentown, Pennsylvania, for $125 million in cash. For investors, the filing establishes total cash proceeds of $525 million at closing, with a further $400 million due in the form of a note maturing in December 2026. The filing does not describe the accounting impact or the effect on KDP's financial results.
  4. 8-KKeurig Dr Pepper 8-K Report, Corporate Update (Sep 16, 2026)Keurig Dr Pepper Inc. (Nasdaq: KDP) filed this Current Report on Form 8-K under Item 8.01 (Other Events) to disclose that its Board of Directors has declared a regular quarterly cash dividend of $0.23 per share on the Company's common stock. The announcement was made in a press release dated September 16, 2026, which is furnished as Exhibit 99.1. The dividend is payable on October 9, 2026, to shareholders of record as of September 28, 2026. The filing contains no financial results, guidance, or other operational or financial metrics beyond the dividend declaration itself. For investors, the key takeaway is the routine declaration of a regular quarterly dividend, with the record and payment dates clearly set out. The filing does not indicate any change to the dividend amount or policy beyond this declaration.
  5. 8-KKeurig Dr Pepper 8-K Report, Corporate Update (Sep 1, 2026)On September 1, 2026, Keurig Dr Pepper Inc. (KDP) disclosed that, under definitive agreements dated August 28, 2026, its subsidiary Mott's LLP and affiliates will redeem all of the company's indirect equity interests in Chobani for aggregate consideration of $800 million, consisting of $400 million in cash at closing and a $400 million promissory note issued by Chobani to a company subsidiary that matures on December 26, 2026. The filing also covers the sale of certain assets, including leasehold interests in two Allentown, Pennsylvania facilities, for $125 million. The company's press release (Exhibit 99.1) describes total pre-tax proceeds of $925 million and states that net proceeds will be used to reduce debt as KDP positions its two future businesses, Beverage Co. and Global Coffee Co. The transactions are expected to close in the third quarter of 2026, subject to customary closing conditions. Chobani will also take over the Allentown manufacturing and warehouse operations, offering employment to the site's manufacturing and warehouse employees, and will continue manufacturing certain products for KDP there under a co-manufacturing agreement for a defined period. Delivery, customer service and other corporate employees remain with KDP. The relationship is also being expanded commercially. KDP will continue to distribute La Colombe's ready-to-drink lattes and other Chobani-owned beverages through its direct store delivery network, including future RTD innovations, and the companies will continue their La Colombe-branded K-Cup pod licensing, manufacturing and distribution agreement in the U.S. and Canada. The forward-looking statements flag risks including closing timing, realization of expected proceeds and deleveraging, co-manufacturing transition, and potential litigation.
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04—See also

Related Companies

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