Keurig Dr Pepper Inc. (KDP) Financial Ratios
22 years of historical data (2004–2025) · Consumer Defensive · Beverages - Non-Alcoholic
EV/EBITDA
↓
12.93
↓-23% vs avg
5yr avg: 16.71
30Y Low2.5·High26.4
P/FCF
↑
27.77
-7% vs avg
5yr avg: 29.94
30Y Low0.6·High55.3
P/B Ratio
↓
1.64
↓-11% vs avg
5yr avg: 1.85
30Y Low0.3·High2.1
ROE
↓
8.4%
↓+12% vs avg
5yr avg: 7.4%
30Y Low-8%·High47%
Debt/EBITDA
↓
3.67
↓-10% vs avg
5yr avg: 4.09
30Y Low1.7·High9.6
Percentile shows where the current value sits in 30-year historical distribution. Sparklines show 5-year trend.
KDP Valuation Multiples
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
Keurig Dr Pepper Inc. trades at 20.1x earnings, 23% below its 5-year average of 26.1x, sitting at the 59th percentile of its historical range. Compared to the Consumer Defensive sector median P/E of 18.8x, the stock trades at a premium of 7%. On a free-cash-flow basis, the stock trades at 27.8x P/FCF, 7% below the 5-year average of 29.9x.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $41.8B | $38.2B | $43.9B | $46.9B | $50.9B | $52.6B | $45.5B | $41.1B | $28.1B | $2.9B | $2.7B |
| Enterprise Value | $56.9B | $53.3B | $60.7B | $61.5B | $64.0B | $65.3B | $59.7B | $56.2B | $44.0B | $7.3B | $5.4B |
| P/E Ratio → | 20.10 | 18.31 | 30.59 | 21.50 | 35.31 | 24.57 | 34.41 | 32.90 | 48.38 | 2.65 | 3.22 |
| P/S Ratio | 2.52 | 2.30 | 2.86 | 3.17 | 3.62 | 4.15 | 3.92 | 3.69 | 3.78 | 0.43 | 0.42 |
| P/B Ratio | 1.64 | 1.50 | 1.81 | 1.83 | 2.03 | 2.11 | 1.91 | 1.77 | 1.25 | 1.17 | 1.28 |
| P/FCF | 27.77 | 25.36 | 26.54 | 55.34 | 20.72 | 21.76 | 23.47 | 19.48 | 19.64 | 3.44 | 3.60 |
| P/OCF | 20.99 | 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
KDP EV Ratios
Enterprise-value multiples — capital-structure-neutral measures of total business value
Keurig Dr Pepper Inc.'s enterprise value stands at 12.9x EBITDA, 23% below its 5-year average of 16.7x. The Consumer Defensive sector median is 11.0x, placing the stock at a 18% premium on an enterprise-value basis.
| 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 | 12.93 | 12.11 | 18.27 | 15.72 | 19.31 | 18.14 | 19.07 | 18.52 | 26.36 | 4.50 | 3.27 |
| EV / EBIT | 15.60 | 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 |
KDP Profitability
Margins and return-on-capital ratios measuring operating efficiency
Keurig Dr Pepper Inc. earns an operating margin of 22.0%, significantly above the Consumer Defensive sector average of 3.5%. ROE of 8.4% is modest. ROIC of 6.7% represents adequate returns on invested capital versus a sector median of 5.7%.
Margins
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 | 52.4% | 52.4% | 55.6% | 54.5% | 52.1% | 55.0% | 55.8% | 57.0% | 52.2% | 59.7% | 59.9% |
| Operating Margin | 22.0% | 22.0% | 16.9% | 21.5% | 18.5% | 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% |
Return on Capital
| 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% | 4.8% | 6.1% | 5.2% | 5.7% | 4.9% | 4.6% | 4.1% | 17.8% | 22.7% |
| ROCE | 7.9% | 7.9% | 5.9% | 7.3% | 5.9% | 6.7% | 5.8% | 5.5% | 4.8% | 15.8% | 17.9% |
KDP Leverage & Debt
Solvency and debt-coverage ratios — lower is generally safer
Keurig Dr Pepper Inc. carries a Debt/EBITDA ratio of 3.7x, which is moderately leveraged (roughly in line with the sector average of 3.5x). Net debt stands at $15.1B ($16.1B total debt minus $1.0B cash). Interest coverage of 4.6x is adequate, though a cyclical earnings downturn could tighten the margin of safety.
| 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 | 3.67 | 3.67 | 5.20 | 3.79 | 4.10 | 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 | 5.04 | 3.72 | 3.94 | 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 |
KDP Liquidity & Efficiency
Short-term solvency ratios and asset-utilisation metrics
The current ratio of 0.64x is below 1.0, meaning current liabilities exceed current assets — though the company's $1.0B cash position helps mitigate short-term liquidity concerns. The current ratio has improved from 0.38x to 0.64x over the past 3 years.
| 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 | 4.56 | 4.56 | 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 |
KDP Shareholder Yields
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Keurig Dr Pepper Inc. returns 3.0% to shareholders annually — split between a 3.0% dividend yield and 0.0% buyback yield. A payout ratio of 60.1% is moderate and appears sustainable, balancing shareholder returns with reinvestment capacity. The earnings yield of 5.0% (inverse of P/E) provides a useful comparison to bond yields when assessing the stock's relative attractiveness to fixed income.
Dividends
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 | 3.0% | 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% |
Total Shareholder Return Metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 5.0% | 5.5% | 3.3% | 4.7% | 2.8% | 4.1% | 2.9% | 3.0% | 2.1% | 37.7% | 31.1% |
| FCF Yield | 3.6% | 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 | 3.0% | 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 |
Peer Comparison
Compare KDP with 10 similar companies in its peer group
| Company | Market Cap | P/E | EV/EBITDA | P/FCF | Gross Margin | Op Margin | ROE | ROIC | Debt/EBITDA |
|---|---|---|---|---|---|---|---|---|---|
 KDPYou | $42B | 20.1 | 12.9 | 27.8 | 52.4% | 22.0% | 8.4% | 6.7% | 3.7 |
 PEP | $194B | 23.7 | 16.4 | 25.3 | 54.1% | 12.2% | 42.6% | 14.9% | 3.5 |
 KO | $342B | 26.1 | 25.4 | 64.5 | 61.6% | 28.7% | 43.2% | 15.8% | 3.1 |
 MNST | $89B | 47.1 | 34.4 | 45.4 | 55.8% | 29.2% | 26.8% | 33.1% | — |
 CELH | $8B | 123.2 | 16.4 | 24.3 | 50.4% | 18.6% | 5.2% | 19.7% | 1.3 |
 FIZZ | $3B | 18.2 | 12.8 | 19.9 | 37.0% | 19.6% | 37.2% | 57.9% | 0.3 |
 SBUX | $115B | 61.7 | 26.2 | 47.0 | 24.2% | 9.6% | — | 17.7% | 5.1 |
 FARM | $28M | -1.9 | 7.5 | 4.3 | 43.5% | -0.4% | -32.6% | -1.2% | 5.3 |
 COKE | $15B | 26.7 | 15.3 | 24.3 | 39.7% | 13.2% | 168.3% | 34.2% | 2.6 |
 CCK | $11B | 15.9 | 8.0 | 10.4 | 18.3% | 13.2% | 21.9% | 14.1% | 3.0 |
 SEE | $6B | 12.3 | 14.3 | 13.5 | 29.8% | 13.5% | 54.3% | 11.2% | 5.9 |
| Consumer Defensive Median | — | 18.8 | 11.0 | 15.3 | 40.8% | 3.5% | 6.5% | 5.7% | 3.5 |
Peer selection based on competitive and market overlap. Compare multiple stocks →
Download Financial Ratios Data
Includes 30+ ratios · 22 years · Updated daily
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KDP — Frequently Asked Questions
Quick answers to the most common questions about buying KDP stock.
What is Keurig Dr Pepper Inc.'s P/E ratio?
Keurig Dr Pepper Inc.'s current P/E ratio is 20.1x. The historical average is 15.9x. This places it at the 59th percentile of its historical range.
What is Keurig Dr Pepper Inc.'s EV/EBITDA?
Keurig Dr Pepper Inc.'s current EV/EBITDA is 12.9x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 10.4x.
What is Keurig Dr Pepper Inc.'s ROE?
Keurig Dr Pepper Inc.'s return on equity (ROE) is 8.4%. The historical average is 17.6%.
Is KDP stock overvalued?
Based on historical data, Keurig Dr Pepper Inc. is trading at a P/E of 20.1x. This is at the 59th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
What is Keurig Dr Pepper Inc.'s dividend yield?
Keurig Dr Pepper Inc.'s current dividend yield is 2.98% with a payout ratio of 60.1%.
What are Keurig Dr Pepper Inc.'s profit margins?
Keurig Dr Pepper Inc. has 52.4% gross margin and 22.0% operating margin. Operating margin above 20% indicates strong pricing power and cost efficiency.
How much debt does Keurig Dr Pepper Inc. have?
Keurig Dr Pepper Inc.'s Debt/EBITDA ratio is 3.7x, indicating high leverage. A ratio between 2-4x is manageable but warrants monitoring.