22 years of historical data (2004–2025) · Consumer Defensive · Beverages - Non-Alcoholic
Percentile shows where the current value sits in 30-year historical distribution. Sparklines show 5-year trend.
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
Keurig Dr Pepper Inc. trades at 19.8x earnings, 24% 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 21.6x, the stock trades at a discount of 8%. On a free-cash-flow basis, the stock trades at 27.3x P/FCF, 9% 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 | $41.1B | $38.2B | $43.9B | $46.9B | $50.9B | $52.6B | $45.5B | $41.1B | $28.1B | $2.9B | $2.7B |
| Enterprise Value | $56.3B | $53.3B | $60.7B | $61.5B | $64.0B | $65.3B | $59.7B | $56.2B | $44.0B | $7.3B | $5.4B |
| P/E Ratio → | 19.79 | 18.31 | 30.59 | 21.50 | 35.31 | 24.57 | 34.41 | 32.90 | 48.38 | 2.65 | 3.22 |
| P/S Ratio | 2.48 | 2.30 | 2.86 | 3.17 | 3.62 | 4.15 | 3.92 | 3.69 | 3.78 | 0.43 | 0.42 |
| P/B Ratio | 1.62 | 1.50 | 1.81 | 1.83 | 2.03 | 2.11 | 1.91 | 1.77 | 1.25 | 1.17 | 1.28 |
| P/FCF | 27.34 | 25.36 | 26.54 | 55.34 | 20.72 | 21.76 | 23.47 | 19.48 | 19.64 | 3.44 | 3.60 |
| P/OCF | 20.66 | 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
Keurig Dr Pepper Inc.'s enterprise value stands at 12.8x EBITDA, 23% below its 5-year average of 16.7x. This is roughly in line with the Consumer Defensive sector median of 12.3x.
| 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 | 12.78 | 12.11 | 18.27 | 15.72 | 19.31 | 18.14 | 19.07 | 18.52 | 26.36 | 4.50 | 3.27 |
| EV / EBIT | 15.42 | 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
Keurig Dr Pepper Inc. earns an operating margin of 22.0%, significantly above the Consumer Defensive sector average of 1.1%. ROE of 8.4% is modest. ROIC of 6.7% represents adequate returns on invested capital versus a sector median of 5.7%.
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% |
| 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% |
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 (13% above the sector average of 3.2x). Net debt stands at $15.1B ($16.1B total debt minus $1.0B cash). Interest coverage of 4.8x 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 | 4.84 | 4.84 | 3.79 | 5.36 | 5.57 | 5.51 | 4.15 | 3.68 | 2.77 | 8.26 | 10.24 |
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 |
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Keurig Dr Pepper Inc. returns 3.1% 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 5.1% (inverse of P/E) provides a useful comparison to bond yields when assessing the stock's relative attractiveness to fixed income.
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% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 5.1% | 5.5% | 3.3% | 4.7% | 2.8% | 4.1% | 2.9% | 3.0% | 2.1% | 37.7% | 31.1% |
| FCF Yield | 3.7% | 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% | 21.9% | 0.0% | 14.0% | 19.1% |
| Total Shareholder Yield | 3.1% | 3.3% | 5.2% | 3.9% | 2.9% | 1.8% | 1.9% | 24.0% | 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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Start ComparisonKeurig Dr Pepper Inc.'s current P/E ratio is 19.8x. The historical average is 15.9x. This places it at the 59th percentile of its historical range.
Keurig Dr Pepper Inc.'s current EV/EBITDA is 12.8x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 10.4x.
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 19.8x. This is at the 59th 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 3.03% with a payout ratio of 60.1%.
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.
Keurig Dr Pepper Inc.'s Debt/EBITDA ratio is 3.7x, indicating high leverage. A ratio between 2-4x is manageable but warrants monitoring.