Keurig Dr Pepper Inc. (KDP) quarterly cash flow statement — complete operating, investing & financing history
Keurig Dr Pepper Inc. (KDP) cash flow statement — 22-year operating, investing & financing cash flows
| Metric | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 | Q2'23 | Q1'23 | Q4'22 | Q3'22 | Q2'22 | Q1'22 | Q4'21 | Q3'21 |
|---|
| Cash from Operations | 895M | 281M | 712M | 639M | 431M | 209M | 849M | 628M | 657M | 85M | 297M | 580M | 381M | 71M | 739M | 759M | 676M | 663M | 941M | 794M |
| Operating CF Margin % | 12.25% | 7.07% | 15.83% | 14.84% | 10.35% | 5.75% | 20.86% | 16.14% | 16.75% | 2.45% | 7.68% | 15.24% | 10.06% | 2.12% | 19.43% | 20.96% | 19.02% | 21.54% | 27.75% | 24.43% |
| Operating CF Growth % | 107.66% | 34.45% | -16.14% | 1.75% | -34.4% | 145.88% | 185.86% | 8.28% | 72.44% | 19.72% | -59.81% | -23.58% | -43.64% | -89.29% | -21.47% | -4.41% | 14% | 21.43% | 19.11% | 31.46% |
| Net Income | 210M | 270M | 353M | 662M | 547M | 517M | -144M | 616M | 515M | 454M | 693M | 518M | 503M | 467M | 453M | 180M | 218M | 585M | 843M | 530M |
| Depreciation & Amortization | 332M | 151M | 39M | 206M | 185M | 163M | 183M | 175M | 205M | 170M | 182M | 177M | 175M | 186M | 179M | 172M | 176M | 182M | 185M | 170M |
| Stock-Based Compensation | 32M | 30M | 27M | 25M | 23M | 22M | 22M | 24M | 24M | 28M | 30M | 29M | 28M | 29M | 9M | 31M | 27M | -15M | 20M | 20M |
| Deferred Taxes | -26M | 4M | 84M | -43M | 10M | -6M | -275M | 4M | -4M | 21M | 18M | 4M | -26M | 0 | -8M | -229M | -60M | 8M | 52M | -9M |
| Other Non-Cash Items | 390M | 101M | 341M | -75M | -7M | -79M | 763M | -13M | 58M | -16M | -43M | 149M | 62M | -105M | 152M | 540M | 529M | -17M | -517M | 17M |
| Working Capital Changes | -43M | -275M | -132M | -136M | -327M | -408M | 300M | -178M | -141M | -572M | -583M | -297M | -361M | -506M | -46M | 65M | -214M | -80M | 358M | 66M |
| Change in Receivables | -68M | 118M | -186M | -19M | -161M | 164M | -61M | -81M | -109M | 42M | -100M | 8M | 134M | 28M | -26M | -166M | -133M | -73M | -26M | -85M |
| Change in Inventory | 234M | -101M | 113M | -102M | -177M | -239M | 128M | -101M | -54M | -65M | 213M | 30M | 13M | -74M | 126M | -206M | -199M | -147M | 77M | -79M |
| Change in Payables | 41M | -129M | -72M | -47M | 80M | -173M | 79M | 39M | 84M | -398M | -546M | -366M | -378M | -391M | 75M | 334M | 138M | 151M | -3.88B | 4.07B |
| Cash from Investing | -16.8B | 3.85B | -183M | -112M | -221M | -57M | -1.08B | -209M | -136M | -193M | -161M | -420M | -98M | -105M | -922M | -82M | -134M | 3M | 560M | -150M |
| Capital Expenditures | -181M | -118M | -148M | -112M | -106M | -134M | -165M | -125M | -133M | -189M | -155M | -122M | -91M | -113M | -100M | -83M | -77M | -119M | -99M | -140M |
| CapEx % of Revenue | 2.48% | 2.97% | 3.29% | 2.6% | 2.55% | 3.69% | 4.05% | 3.21% | 3.39% | 5.45% | 4.01% | 3.21% | 2.4% | 3.37% | 2.63% | 2.29% | 2.17% | 3.87% | 2.92% | 4.31% |
| Acquisitions | -16.61B | 3.97B | -34M | -3M | -112M | 13M | -915M | -85M | 1M | 0 | -8M | -300M | -8M | 7M | -914M | 1M | -45M | 78M | 104M | 0 |
| Investments | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Other Investing | -5M | 1M | -1M | 3M | -3M | 64M | 4M | 1M | -3M | 2M | 2M | 2M | 1M | 1M | 92M | 0 | -12M | -3M | -23M | -10M |
| Cash from Financing | -1.09B | 13.69B | -65M | -525M | -402M | -7M | 281M | -282M | -380M | 158M | -135M | -174M | -220M | -303M | -213M | -294M | -577M | -644M | -1.13B | -602M |
| Debt Issued (Net) | -511M | 9.57B | -533M | -33M | -62M | -1.01B | 631M | 46M | -63M | 1.63B | 426M | 136M | 286M | -24M | 371M | -24M | -182M | -369M | -863M | -341M |
| Equity Issued (Net) | -100M | 4.49B | -2M | -1M | -9M | -23M | -5M | -15M | -2M | -1.15B | -249M | -25M | -226M | -262M | -296M | -2M | -88M | -5M | 126M | 0 |
| Dividends Paid | -366M | -312M | -313M | -312M | -313M | -312M | -311M | -292M | -292M | -299M | -300M | -279M | -282M | -281M | -284M | -265M | -266M | -265M | -268M | -263M |
| Share Repurchases | -6M | 0 | -2M | -1M | -9M | -23M | -5M | -15M | -2M | -1.1B | -249M | -25M | -226M | -231M | -291M | -2M | -88M | -5M | 0 | 0 |
| Other Financing | -116M | -60M | 783M | -179M | -18M | 1.34B | -34M | -21M | -23M | -28M | -12M | -6M | 2M | 264M | -4M | -3M | -41M | -5M | -127M | 2M |
| Net Change in Cash | -17.16B | 17.67B | 475M | 4M | -186M | 143M | 48M | 122M | 121M | 50M | 7M | -18M | 74M | -331M | -393M | 374M | -40M | 26M | 365M | 33M |
| Free Cash Flow | 714M | 165M | 566M | 527M | 323M | 89M | 674M | 503M | 524M | -104M | 142M | 458M | 290M | -42M | 639M | 676M | 599M | 544M | 842M | 654M |
| FCF Margin % | 9.77% | 4.15% | 12.58% | 12.24% | 7.76% | 2.45% | 16.56% | 12.93% | 13.36% | -3% | 3.67% | 12.04% | 7.65% | -1.25% | 16.8% | 18.66% | 16.85% | 17.67% | 24.83% | 20.12% |
| FCF Growth % | 121.05% | 85.39% | -16.02% | 4.77% | -38.36% | 185.58% | 374.65% | 9.83% | 80.69% | -147.62% | -77.78% | -32.25% | -51.59% | -107.72% | -24.11% | 3.36% | 23.76% | 23.92% | 28.55% | 27.49% |
| FCF per Share | 0.52 | 0.12 | 0.42 | 0.39 | 0.24 | 0.07 | 0.49 | 0.37 | 0.38 | -0.07 | 0.10 | 0.33 | 0.21 | -0.03 | 0.45 | 0.47 | 0.42 | 0.38 | 0.59 | 0.46 |
| FCF Conversion (FCF/Net Income) | 6.30x | 1.04x | 2.02x | 0.97x | 0.79x | 0.40x | -5.90x | 1.02x | 1.28x | 0.19x | 0.43x | 1.12x | 0.76x | 0.15x | 1.63x | 4.22x | 3.10x | 1.13x | 1.12x | 1.50x |
| Interest Paid | 0 | 97M | -377M | 100M | 184M | 93M | 186M | 97M | 187M | 24M | 188M | 24M | 192M | 39M | 127M | 28M | 181M | 27M | 193M | 25M |
| Taxes Paid | 0 | 0 | -322M | 46M | 216M | 60M | -246M | 41M | 179M | 26M | 94M | 94M | 270M | 49M | 120M | 104M | 425M | 37M | 98M | 103M |