Latest Ratios: P/E Ratio 30.4x · EV/EBITDA 13.4x · ROE 8.4%. (2004–2025 historical series)
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $49.8B | $38.2B | $43.9B | $46.9B | $50.9B | $52.6B | $45.5B | $41.1B | $28.1B | $2.9B | $2.7B |
| Enterprise Value | $65.0B | $53.3B | $60.7B | $61.5B | $64.0B | $65.3B | $59.7B | $56.2B | $44.0B | $7.3B | $5.4B |
| P/E Ratio → | 30.38 | 18.31 | 30.59 | 21.50 | 35.31 | 24.57 | 34.41 | 32.90 | 48.38 | 2.65 | 3.22 |
| P/S Ratio | 2.15 | 2.30 | 2.86 | 3.17 | 3.62 | 4.15 | 3.92 | 3.69 | 3.78 | 0.43 | 0.42 |
| P/B Ratio | 1.96 | 1.50 | 1.81 | 1.83 | 2.03 | 2.11 | 1.91 | 1.77 | 1.25 | 1.17 | 1.28 |
| P/FCF | 21.40 | 25.36 | 26.54 | 55.34 | 20.72 | 21.76 | 23.47 | 19.48 | 19.64 | 3.44 | 3.60 |
| P/OCF | 25.03 | 19.17 | 19.81 | 35.31 | 17.96 | 18.31 | 18.53 | 16.61 | 17.45 | 2.75 | 2.90 |
P/E links to full P/E history page with 30-year chart
Enterprise-value multiples — capital-structure-neutral measures of total business value
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 3.21 | 3.96 | 4.15 | 4.55 | 5.15 | 5.14 | 5.06 | 5.92 | 1.09 | 0.84 |
| EV / EBITDA | 13.38 | 12.09 | 15.02 | 15.71 | 18.32 | 18.14 | 19.07 | 18.52 | 26.36 | 4.50 | 3.27 |
| EV / EBIT | 17.78 | 15.49 | 22.92 | 18.90 | 26.53 | 19.81 | 25.35 | 23.95 | 35.44 | 5.44 | 3.79 |
| EV / FCF | — | 35.41 | 36.66 | 72.51 | 26.03 | 27.01 | 30.81 | 26.66 | 30.74 | 8.77 | 7.15 |
Margins and return-on-capital ratios measuring operating efficiency
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 54.2% | 54.2% | 55.6% | 54.5% | 52.1% | 55.0% | 55.8% | 57.0% | 52.2% | 59.7% | 59.9% |
| Operating Margin | 22.0% | 22.0% | 21.6% | 21.6% | 19.8% | 22.8% | 21.3% | 21.4% | 16.6% | 20.7% | 22.3% |
| Net Profit Margin | 12.5% | 12.5% | 9.4% | 14.7% | 10.2% | 16.9% | 11.4% | 11.3% | 7.9% | 16.1% | 13.2% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 8.4% | 8.4% | 5.8% | 8.6% | 5.7% | 8.8% | 5.6% | 5.5% | 4.7% | 46.9% | 39.2% |
| ROA | 3.8% | 3.8% | 2.7% | 4.2% | 2.8% | 4.3% | 2.7% | 2.5% | 2.0% | 10.9% | 9.1% |
| ROIC | 6.7% | 6.7% | 6.1% | 6.1% | 5.5% | 5.7% | 4.9% | 4.6% | 4.1% | 17.8% | 22.7% |
| ROCE | 7.9% | 7.9% | 7.5% | 7.3% | 6.3% | 6.7% | 5.8% | 5.5% | 4.8% | 15.8% | 17.9% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.63 | 0.63 | 0.71 | 0.58 | 0.54 | 0.53 | 0.61 | 0.65 | 0.71 | 1.83 | 2.10 |
| Debt / EBITDA | 3.66 | 3.66 | 4.27 | 3.79 | 3.89 | 3.68 | 4.62 | 5.02 | 9.57 | 2.77 | 2.70 |
| Net Debt / Equity | — | 0.59 | 0.69 | 0.57 | 0.52 | 0.51 | 0.60 | 0.65 | 0.71 | 1.80 | 1.26 |
| Net Debt / EBITDA | 3.43 | 3.43 | 4.15 | 3.72 | 3.74 | 3.53 | 4.55 | 4.99 | 9.52 | 2.73 | 1.62 |
| Debt / FCF | — | 10.04 | 10.12 | 17.17 | 5.31 | 5.25 | 7.35 | 7.18 | 11.10 | 5.32 | 3.55 |
| Interest Coverage | 4.56 | 4.56 | 3.87 | 5.46 | 5.15 | 6.28 | 3.95 | 3.63 | 2.79 | 7.96 | 10.21 |
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 0.64 | 0.64 | 0.49 | 0.38 | 0.47 | 0.47 | 0.31 | 0.35 | 0.38 | 0.90 | 2.60 |
| Quick Ratio | 0.43 | 0.43 | 0.33 | 0.25 | 0.31 | 0.33 | 0.21 | 0.25 | 0.27 | 0.72 | 2.41 |
| Cash Ratio | 0.12 | 0.12 | 0.06 | 0.03 | 0.07 | 0.09 | 0.03 | 0.01 | 0.01 | 0.05 | 1.70 |
| Asset Turnover | — | 0.30 | 0.29 | 0.28 | 0.27 | 0.25 | 0.23 | 0.22 | 0.15 | 0.67 | 0.66 |
| Inventory Turnover | 4.39 | 4.39 | 5.25 | 5.90 | 5.12 | 6.38 | 6.73 | 7.31 | 5.69 | 11.77 | 12.78 |
| Days Sales Outstanding | — | 36.74 | 40.97 | 37.43 | 43.31 | 36.66 | 35.94 | 38.86 | 59.98 | 38.74 | 36.61 |
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 2.5% | 3.3% | 2.7% | 2.4% | 2.1% | 1.8% | 1.9% | 2.1% | 0.8% | 14.5% | 14.2% |
| Payout Ratio | 60.1% | 60.1% | 82.9% | 52.4% | 75.2% | 44.5% | 63.8% | 67.3% | 39.6% | 38.5% | 45.6% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 3.3% | 5.5% | 3.3% | 4.7% | 2.8% | 4.1% | 2.9% | 3.0% | 2.1% | 37.7% | 31.1% |
| FCF Yield | 4.7% | 3.9% | 3.8% | 1.8% | 4.8% | 4.6% | 4.3% | 5.1% | 5.1% | 29.0% | 27.8% |
| Buyback Yield | 0.0% | 0.0% | 2.5% | 1.5% | 0.7% | 0.0% | 0.0% | 0.0% | 0.0% | 14.0% | 19.1% |
| Total Shareholder Yield | 2.5% | 3.3% | 5.2% | 3.9% | 2.9% | 1.8% | 1.9% | 2.1% | 0.8% | 28.5% | 33.2% |
| Shares Outstanding | — | $1.4B | $1.4B | $1.4B | $1.4B | $1.4B | $1.4B | $1.4B | $1.1B | $183M | $187M |
Includes 30+ ratios · 22 years · Updated daily
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Quick answers to the most common questions about buying KDP stock.
Keurig Dr Pepper Inc.'s current P/E ratio is 30.4x. The historical average is 15.9x. This places it at the 71th percentile of its historical range.
Keurig Dr Pepper Inc.'s current EV/EBITDA is 13.4x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 10.1x.
Keurig Dr Pepper Inc.'s return on equity (ROE) is 8.4%. The historical average is 17.6%.
Based on historical data, Keurig Dr Pepper Inc. is trading at a P/E of 30.4x. This is at the 71th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Keurig Dr Pepper Inc.'s current dividend yield is 2.50% with a payout ratio of 60.1%.
Keurig Dr Pepper Inc. has 54.2% gross margin and 22.0% operating margin. Operating margin above 20% indicates strong pricing power and cost efficiency.
Keurig Dr Pepper Inc.'s Debt/EBITDA ratio is 3.7x, indicating high leverage. A ratio between 2-4x is manageable but warrants monitoring.
Key Metrics
Top Statement Risk
Post-JDE Peet's leverage strain
Metrics are mathematically derived from official filings.
Premium Multiples Pricing Synergy Recovery
Based on EDBL's reported figures, KDP trades at 24.11x trailing earnings and 14.82x EV/EBITDA, a premium to PepsiCo's 13.34x EV/EBITDA that assumes integration synergies will restore earnings power.
The gap between the trailing P/E of 24.11 and forward P/E of 16.10 suggests the market is already looking through the recent earnings volatility toward a recovery in normalized earnings. The PEG ratio of 2.30 sits well above the peer median, implying investors are paying a meaningful premium for growth that the reported quarterly trajectory has not yet demonstrated. Investors should monitor whether the forward multiple compresses as realized margins fail to converge with the pre-acquisition baseline.
Margin Recovery Lags Pre-Acquisition Baseline
As reported in quarterly statements, KDP's operating margin fell from roughly 22% in 2025 to 9.2% in Q2 2026 before recovering to 18.2% in Q3, still below its pre-acquisition level.
The gross margin trajectory from 55.4% in 2024 to 41.9% in Q2 2026 suggests lower-margin coffee revenue has diluted the mix materially. The rebound to 48.0% in Q3 is encouraging but has not returned to prior levels, which may indicate that some dilution is structural rather than temporary. Net margin of 12.0% in the latest quarter compares unfavorably with the 13-15% range seen through 2024 and 2025, warranting continued monitoring of integration cost absorption.
Returns Compressed by Acquisition Capital Base
According to the reported figures, KDP's ROIC fell to 1.7% in Q3 2026 and ROE to 3.0%, both measured against an equity and invested capital base that expanded sharply with acquisition goodwill.
ROIC has hovered between roughly 1.4% and 1.8% across the ten quarters shown, a level that is far below the 15.8% to 51.7% range reported by peers such as Coca-Cola and National Beverage. This gap suggests that the capital deployed into the JDE Peet's transaction has not yet generated returns commensurate with its cost. The low ROE in several quarters may partly reflect acquisition goodwill inflating the equity denominator rather than a deterioration in operating efficiency alone.
Leverage Peaked Before Partial Deleveraging
Based on EDBL's reported figures, debt-to-equity rose to 1.18 in Q2 2026 before easing to 0.97, while debt-to-EBITDA reached 51.42x at the peak before falling to 16.92x.
Interest coverage collapsed to 1.99x in Q2 2026 and recovered only to 3.56x in Q3, a level that leaves limited headroom against a further earnings shortfall. The rapid deleveraging in the latest quarter is directionally positive, but the trend is still being established across only two data points. Investors should monitor refinancing exposure and whether coverage stabilizes above 4x as synergies are realized.
Gross-to-Net Revenue Accounting Obscures Growth
Based on the supplied data, the headline revenue step-up driven by the JDE Peet's acquisition may overstate organic growth, and the gross versus net treatment of partner brands could further distort reported margins.
The apparent 70.6% year-over-year revenue growth in Q3 2026 appears to be largely inorganic, which means margin ratios computed on the expanded revenue base may not be directly comparable to pre-acquisition periods. The current ratio of 0.52 in Q3 2026, computed against a much larger liability base, may also understate liquidity pressure if working capital from the acquired business has not yet normalized. Conventional ROIC and ROE figures may therefore mislead about underlying capital efficiency until an adjusted, same-perimeter analysis is available.