⚡What does Keurig Dr Pepper do, in 30 seconds?
Keurig Dr Pepper sells cold drinks such as Dr Pepper, Canada Dry and Snapple 2, along with Keurig brewers and K-Cup pods 6. It sold $16.6bn ✓ in FY2025, and cold drinks made up 70% ✓ of that. Those figures leave out JDE Peet's, a global coffee company 258 whose purchase closed on April 1, 2026 8159. A planned split into a drinks company and a coffee company was still pending on November 3, 2026 3936.
📱What does Keurig Dr Pepper sell?
Cold drinks were the biggest of four product lines in FY2025, at 70% ✓ of sales. None of these FY2025 amounts include JDE Peet's, which joined on April 1, 2026 89. JDE Peet's is now a segment of its own, selling single-serve, ground, instant and whole bean coffee and tea worldwide 9. The mix has changed since FY2025. In the third quarter of 2026, JDE Peet's added $2.6 billion 36 out of net sales of $7.3 billion 36.
Liquid refreshment drinks
Cold drinks, from both owned and partner brands 1. Key US brands include Dr Pepper, Canada Dry, Mott's, A&W, GHOST, 7UP, Snapple, Squirt, Sunkist soda, Hawaiian Punch and Core Hydration 2. The company also distributes partner brands such as C4, Electrolit, Vita Coco, Bloom, evian and Polar seltzer 3. Its International segment's key brands include Peñafiel and Clamato 4. This line brought in $11.6bn ✓ in FY2025.
👥 In the US, bottlers, distributors and retailers buy its concentrates, syrups and finished drinks 2. Fountain customers such as fast-food restaurants buy its syrup 2.
K-Cup pods
K-Cup pods made for its own and licensed brands, including Green Mountain Coffee Roasters, McCafé and The Original Donut Shop 6. At the end of FY2025 it also made pods for partner brands including Starbucks, Dunkin' and Folgers 6. Some pods hold tea or hot cocoa, such as Celestial Seasonings, Bigelow and Swiss Miss 6. Pods brought in $3.8bn ✓ in FY2025. Pod sales volume fell 3.9% that year 1.
👥 Retailers, offices and consumers buy pods from Keurig Dr Pepper 6. Partner brands sell the pods made for them to retailers and consumers 6.
Appliances
This line covers appliances such as Keurig brewers 1. The company designs most of its single-serve brewers and uses contract manufacturers in Asia to build them 6. Appliances brought in $0.6bn ✓ in FY2025. Appliance sales volume fell 18.0% that year 1.
👥 Shoppers who buy through retailers, distributors or the company's own website 6.
How the mix has shifted
Where the customers are
In FY2025, before JDE Peet's, the United States was by far the biggest market, at 87% ✓ of sales, or $14.5bn ✓. Sales outside the US made up 13% ✓, or $2.1bn ✓. The International segment sells drinks in Canada, Mexico, the Caribbean and other markets, plus brewers and pods in Canada 4. These shares include none of JDE Peet's sales 89. JDE Peet's sells worldwide 9, and in the third quarter of 2026 it added $2.6 billion 36 out of net sales of $7.3 billion 36.
💸How does Keurig Dr Pepper make money?
Follow the money: what customers pay for, what it costs to make, and what is left as profit.
In FY2025, before JDE Peet's, Keurig Dr Pepper made most of its money from cold drinks, which were 70% ✓ of sales, with K-Cup pods next at 23% ✓. Sales were $16.6bn ✓. Making and buying those products cost $7.6bn ✓. What is left is gross profit, the money kept after paying for what was sold. That came to $9.0bn ✓.
Next come the costs of running the company. Research and development took $0.1bn ✓, and selling, marketing and admin, not counting research, took $5.3bn ✓. Other operating costs took $0.1bn ✓. What remains is operating profit, the profit from the main business, which was $3.6bn ✓. Items outside the main business came to -$0.9bn ✓, a net cost, and tax took $0.6bn ✓. That left net income of $2.1bn ✓. Put simply, out of every hundred dollars of sales, about $46 ✓ went on making and buying products and $32 ✓ on selling and admin. Tax took $4 ✓, other costs took $5 ✓, and $13 ✓ was left as profit. All of these FY2025 amounts come from before JDE Peet's joined 89. The mix has changed since then. In the third quarter of 2026, JDE Peet's added $2.6 billion 36 out of net sales of $7.3 billion 36.
Out of every $100 customers paid in FY2025…
⏱️ Keurig Dr Pepper by the clock
Spread the FY2025 totals evenly over its 365 days and you get this. Source: Keurig Dr Pepper Inc. 10-K [7].
📈How is Keurig Dr Pepper doing?
Keurig Dr Pepper's sales rose in all 6 ✓ fiscal years from FY2020 to FY2025, and its 2026 results now include JDE Peet's 89. In FY2025, before that deal, sales reached $16.6bn ✓, up 8.2% ✓ on FY2024. That growth includes GHOST, which added 3.8 percentage points to volume and mix growth 10. Volume and mix means how much was sold and of which products. Operating margin was 21.5% ✓, against 16.9% ✓ in FY2024, when other operating costs were $0.9bn ✓. Free cash flow was $1.5bn ✓, against $1.7bn ✓ in FY2024.
In the four quarters to June 30, 2026, sales were $20.1bn ✓, up 27.5% ✓ on the four quarters before. Only the final one of those quarters includes JDE Peet's, which counts from April 1, 2026 89. Operating margin over those four quarters was 16.2% ✓, and net income was $1.4bn ✓. Second-quarter 2025 net sales were $4.163 billion as reported 89. Had JDE Peet's been owned from the start of 2025, they would have been about $7.247 billion 89.
In the third quarter of 2026, net sales rose 70.6% to $7.3 billion 36. JDE Peet's added $2.6 billion of that 36. Without JDE Peet's, net sales rose 8.6%, with volume and mix up 6.5% and pricing up 2.1% 36. U.S. Refreshment Beverages net sales rose 10.9% to $3.0 billion 36. U.S. Coffee net sales rose 2.7% to $1.0 billion, as volume and mix rose 6.9% and pricing fell 4.2% 36. The quarter also carried a $99 million benefit from tariff refunds 3536.
Keurig Dr Pepper paid for JDE Peet's partly with debt: a $3.6 billion term loan and about $6 billion of bonds called senior notes 8. The funding also included a $4 billion joint-venture investment and $4.5 billion of convertible preferred stock, a kind of share 8. At September 30, 2026, the company had $29.2 billion of debt at principal value, the amount it must repay, and $1.3 billion of cash 45. Its leverage ratio, a gauge of debt against yearly earnings, was 4.1 times on its own pro forma measure 45.
FY2019 was the first full year as a combined company 4647. From FY2019 to FY2025, sales grew from $11.1bn ✓ to $16.6bn ✓, or 6.9% ✓ a year on average. Those years all fall after the 2018 merger 37 and before JDE Peet's 89. The FY2025 total also includes GHOST 10. Sales rose in 6 ✓ of those 6 ✓ years. Gross margin slipped from 57.0% ✓ to 54.2% ✓.
📝 The report card
Keurig Dr Pepper earns its best mark for steady growth and a good mark for profit, but low marks for cash and for its balance sheet. All five marks cover years up to FY2025, before JDE Peet's 89. Every company is graded on the same fixed scale, so an A means the same thing on every page. The strip shows where Keurig Dr Pepper (orange) and its 4 peers land; further right is better.
Growth
Keurig Dr Pepper's sales grew 5.7% ✓ a year over its last three fiscal years, to FY2025, which earns a C ✓. That is before JDE Peet's 89. The FY2025 end point includes GHOST, which added 3.8 percentage points to volume and mix growth that year 10. Monster Beverage grew 9.5% ✓ a year over its own three fiscal years to FY2025, also a C ✓. That period includes the Bang Energy business, bought on July 31, 2023 12. Coca-Cola grew 3.7% ✓, a D ✓.
Why this measure? (higher is better)
Growing sales is the engine of a business. Mature giants rarely grow fast, so 5% a year already earns a C.
Profitability
Over the last three years combined, FY2023 to FY2025, before JDE Peet's, Keurig Dr Pepper kept 20.01% ✓ of sales as operating profit, just above the 20% line for a B ✓. Monster Beverage kept 27.5% ✓, also a B ✓. PepsiCo kept 13.1% ✓, a C ✓.
Why this measure? (higher is better)
Operating margin is the share of each sales dollar left after running the business. Software and platforms often clear 30%; hardware makers usually sit below 10%.
Cash generation
From FY2023 to FY2025 combined, before JDE Peet's, Keurig Dr Pepper turned 8.7% ✓ of sales into free cash flow, a D ✓. The weakest of those years was FY2023, at 6.1% ✓. PepsiCo's figure was close, at 8.2% ✓, also a D ✓. Monster Beverage did far better at 22.4% ✓, an A ✓.
Why this measure? (higher is better)
Free cash flow is the cash left after paying for factories, data centres and equipment. It funds dividends, buybacks and new bets.
Balance sheet
At the end of FY2025, before JDE Peet's, Keurig Dr Pepper's cash and investments minus its borrowings came to -91.0% ✓ of a year's sales, an F ✓. Leases and stakes in other companies are not counted. In dollars, net cash was -$15.1bn ✓, so borrowings were larger than cash and investments. The company bought JDE Peet's on April 1, 2026 815. At June 30, 2026, after that purchase, net cash was -$28.5bn ✓. At the end of FY2025, Coca-Cola was at -69.6% ✓, also an F ✓, and PepsiCo at -42.2% ✓, also an F ✓.
Why this measure? (higher is better)
More cash than debt gives a company room to ride out bad years. Some debt is normal; a lot of it makes a company fragile.
Steadiness
Keurig Dr Pepper's growth swings little from year to year, with a standard deviation of 2.9% ✓, which earns an A ✓. That covers FY2020 to FY2025, when yearly growth stayed between 3.6% ✓ and 10.8% ✓.
Why this measure? (lower is better)
Steady growers are easier to plan around. Big swings mean sales depend on product cycles, the economy or one-off events.
🧑🏫 How the grades work
- Same scale for everyone. Each measure has fixed cut-offs (shown under each strip). Clear the A line and you get an A, whatever your peers do.
- Three years together. Profitability and cash generation add up the last three fiscal years before dividing, so one unusual year counts for less than it would on its own (a year much bigger than the others still weighs most).
- Peers for context. The rank shows how Keurig Dr Pepper compares with the group. Companies within 0.1 percentage point share a rank.
- Same source. Every company's figures come from its own latest annual report (10-K), so fiscal years end in different months.
- Judgement, openly stated. The cut-offs are QuantVantage.ai's view of what good looks like for a large, established company. They are not a forecast or a recommendation.
7 years at a glance
Where the cash goes
In total from FY2019 to FY2025, Keurig Dr Pepper paid out less cash than its free cash flow. It spent $9.5bn ✓ on buybacks and dividends, against $13.1bn ✓ of free cash flow. Payouts were above free cash flow in two of those years, at 204% ✓ in FY2023 and 139% ✓ in FY2024. In FY2025, they equalled 84% ✓ of free cash flow. Nearly all of that was dividends, at $1.3bn ✓, with buybacks of $9.0m ✓. All of these years come before JDE Peet's 89.
🧮Ratios 101: what are Keurig Dr Pepper's key financial ratios?
Ratios shrink big numbers into easy comparisons. These are FY2025 figures, from before the purchase closed on April 1, 2026 815, so none of JDE Peet's sales, assets or debt are in them 89. FY2025 also includes GHOST 10. The FY2020 comparisons come from after the 2018 merger 37. A ratio divides one number by another so companies of any size can be compared. Each card shows the formula with Keurig Dr Pepper's real FY2025 numbers, the peer median and the trend.
💰 Profitability: how much of each sale is kept?
Gross margin
What is left from each sale after paying to make the product or deliver the service.
👉 At 54.2% ✓ in FY2025, gross margin was a little below the 55.0% ✓ peer median and its own 55.8% ✓ in FY2020.
📏 Rule of thumb: Above 40% usually signals pricing power or a big software or services mix.
Operating margin
What is left after also paying for research, marketing and running the company.
👉 Keurig Dr Pepper's 21.5% ✓ in FY2025 was just above the 20.5% ✓ peer median and close to its own 21.3% ✓ in FY2020.
📏 Rule of thumb: Above 20% is strong for a large company.
Net margin
The bottom line: profit after interest and taxes, per dollar of sales.
👉 In FY2025 the company kept 12.5% ✓ of sales as final profit, below the 15.9% ✓ peer median but up from 11.4% ✓ in FY2020.
📏 Rule of thumb: Above 15% is strong; one-off tax items can move it in a single year.
Return on equity (ROE)
Profit earned for each dollar that shareholders have left in the company.
👉 ROE of 8.1% ✓ in FY2025 was far below the 31.7% ✓ peer median. It was up from 5.6% ✓ in FY2020. Shareholders' equity was $25.5bn ✓.
📏 Rule of thumb: Around 15% or more is good, but buybacks shrink equity and can make ROE look huge.
⚙️ Efficiency: how hard do the assets work?
Return on assets (ROA)
Profit earned from everything the company owns, however it was paid for.
👉 ROA of 3.7% ✓ in FY2025 was well below the 10.1% ✓ peer median, though up from 2.7% ✓ in FY2020.
📏 Rule of thumb: Above 10% is strong; banks and factories usually earn less.
Asset turnover
Dollars of sales squeezed out of each dollar of assets.
👉 In FY2025, sales were 0.3x ✓ the value of everything the company owned, up from 0.2x ✓ in FY2020 but below the 0.7x ✓ peer median. Total assets were $55.5bn ✓.
📏 Rule of thumb: Retailers often top 2x; asset-heavy businesses can sit below 0.5x.
Inventory days
How many days of products sit in warehouses before they are sold.
👉 At the end of FY2025 the company held 83 ✓ days of stock, about level with the peer median of 84 ✓ days but up from 54 ✓ days in FY2020.
📏 Rule of thumb: Fewer days means less cash tied up and less risk of products going stale.
🛟 Safety: could it survive a bad year?
Current ratio
Can short-term assets (cash, money owed by customers, stock) pay the bills due within a year?
👉 At the end of FY2025, at 0.6x ✓, short-term assets of $5.3bn ✓ did not cover the $8.3bn ✓ of bills due within a year. The peer median was 1.6x ✓, and the company's own FY2020 figure was 0.3x ✓.
📏 Rule of thumb: Above 1.0x is the classic comfort line, but cash-rich giants can run below it on purpose.
Debt to equity
How much the company has borrowed for each dollar shareholders have in it.
👉 Debt of 0.6x ✓ equity at the end of FY2025, before JDE Peet's, was close to 0.6x ✓ in FY2020 and below the 1.0x ✓ peer median. Total debt was $16.1bn ✓ then. At June 30, 2026, after the deal, it was $30.0bn ✓.
📏 Rule of thumb: Below 1.0x is conservative. Like ROE, it can rise when buybacks shrink equity, even if debt has not changed.
💵 Cash and owners: where does the money end up?
Cash conversion
Does reported profit turn into real cash? Free cash flow is operating cash minus capital spending.
👉 Keurig Dr Pepper turned profit into cash at 0.7x ✓ in FY2025, below the 1.0x ✓ peer median and 1.5x ✓ in FY2020.
📏 Rule of thumb: Near or above 1.0x means profits are backed by cash.
R&D intensity
How much of each sales dollar goes into inventing future products.
👉 In FY2025 the company spent 0.4% ✓ of sales on R&D, close to the 0.5% ✓ median of the two peers that report it and down from 0.6% ✓ in FY2020.
📏 Rule of thumb: Tech companies often spend 10% to 20%; more is not always better if it does not pay off.
Stock pay
Pay given to staff in shares instead of cash. It is a real cost to owners because it adds shares.
👉 Stock pay was 0.6% ✓ of FY2025 sales, below the 0.8% ✓ peer median and near 0.7% ✓ in FY2020.
📏 Rule of thumb: Under 5% of sales is modest for a tech company.
Shareholder payout
How much of the year's profit was handed back to owners.
👉 Keurig Dr Pepper returned 60.6% ✓ of FY2025 profit (and 84% ✓ of its free cash flow), above the 39.1% ✓ peer median and close to 63.8% ✓ in FY2020.
📏 Rule of thumb: Above 100% means it returned more than it earned, using cash savings or debt.
Ratios use fiscal-year-end balance sheet values. Inputs are shown rounded, so dividing them can differ from the result in the last digit. A peer median leaves out peers that do not report the inputs, or where the ratio means nothing (for example, negative shareholders' equity). Rules of thumb are general guides from QuantVantage.ai, not hard limits. No share-price ratios (like price-to-earnings) are shown on this page.
🥊Who are Keurig Dr Pepper's competitors?
Keurig Dr Pepper names Coca-Cola, PepsiCo, Starbucks, J.M. Smucker, Kraft Heinz and Nestlé as primary competitors, and many of them also buy products from it or are its partners 29. Monster Beverage and Celsius meet it in US energy drinks 3102223.
| Company | Where they compete | Revenue | Growth/yr (3y) | Op. margin | FCF margin |
|---|---|---|---|---|---|
| Keurig Dr Pepper (KDP, FY2025) | Cold drinks, K-Cup pods, brewers and, since April 2026, coffee and tea worldwide 9 | $16.6bn | 5.7% | 21.5% | 9.1% |
| Coca-Cola (KO, FY2025) | Each names the other as a competitor; Coca-Cola owns the Dr Pepper trademark and formula in some countries outside North America 1718 | $47.9bn | 3.7% | 28.7% | 11.0% |
| PepsiCo (PEP, FY2025) | Carbonated soft drinks and other cold drinks in North America; PepsiCo also makes and distributes Dr Pepper, Crush and Schweppes under licence in certain markets 192021 | $93.9bn | 2.8% | 12.2% | 8.2% |
| Monster Beverage (MNST, FY2025) | Energy drinks in the US: Keurig Dr Pepper owns most of GHOST and distributes C4 and Bloom, while Monster reaches US stores through Coca-Cola's bottler network 31022 | $8.3bn | 9.5% | 29.2% | 23.7% |
| Celsius (CELH, FY2025) | Energy drinks in the US: Celsius owns CELSIUS, Alani Nu and Rockstar, and it names Keurig Dr Pepper as a direct competitor 31023 | $2.5bn | 56.7% | 5.6% | 12.9% |
Keurig brewers compete with all kinds of coffee makers and coffee shops 26. Keurig Dr Pepper also describes growing competition among makers of Keurig-compatible pods 26.
🧭Keurig Dr Pepper SWOT: strengths, weaknesses, opportunities and threats
💪 Strengths
- In August 2025 the company said Dr Pepper has more than $5 billion of annual retail sales and Canada Dry more than $1 billion 25.
- Sales grew in 6 ✓ of the 6 ✓ fiscal years from FY2020 to FY2025. Growth was steady enough to earn an A ✓ for steadiness.
- At the end of 2025, before JDE Peet's, it had 29 principal production plants and 169 principal warehouse and distribution sites 28.
- At the end of 2025 it made K-Cup pods for partner brands including Starbucks, Dunkin' and Folgers 6.
🩹 Weaknesses
- At the end of FY2025, before JDE Peet's, borrowings were well above cash, with net cash of -$15.1bn ✓. Its JDE Peet's purchase closed on April 1, 2026 815. At June 30, 2026, net cash was -$28.5bn ✓.
- Walmart was about 16% of consolidated net sales in 2025, before JDE Peet's 30. Bottlers also buy concentrate and sell finished drinks to Walmart, adding to that dependence 31.
- From FY2023 to FY2025 combined, before JDE Peet's, it turned only 8.7% ✓ of sales into free cash flow, a D ✓.
- In FY2025, appliance sales volume fell 18.0% 1, and pod sales volume fell 3.9% 1.
🚀 Opportunities
- Buying JDE Peet's brought in brands such as Jacobs, L'OR and Peet's 25815.
- When it announced the JDE Peet's deal in August 2025, the company expected about $400 million of cost synergies over three years 25.
- It sells energy drinks, a category it describes as high-growth, through GHOST and partner brands C4, Bloom and Black Rifle Coffee 31025.
- In the fourth quarter of 2025 it launched Keurig Coffee Collective, the first coffee line sold under the Keurig name 32.
⚠️ Threats
- Some bottlers of its brands are direct competitors or also bottle competing drinks, and they may favor their own products 26.
- Higher sweetened-beverage taxes in Mexico reduced International operating income growth in the second quarter and first half of 2026 33.
- In FY2025, before JDE Peet's 89, ingredients and materials made up about 55% of cost of sales 34. The price it pays under many supply arrangements moves with commodity costs such as aluminum, corn and resin 34.
- At June 30, 2026, remaining plaintiffs in Keurig's single-serve antitrust cases filed before 2026 claimed more than $1.5 billion; Keurig disputed the claims 35.
🏰Does Keurig Dr Pepper have a moat?
Why 4?
In August 2025 the company said Dr Pepper has more than $5 billion of annual retail sales and Canada Dry more than $1 billion 25. It said both sit in what it called the leading US flavored carbonated soft drink portfolio 25. Key US brands also include 7UP, A&W, Snapple and Hawaiian Punch 2. Dr Pepper accounts for most of its fountain channel volume 2.
Why 2?
The company holds long-term licences to make and sell pods under partner trade names, generally covering the whole US or Canada 3. At the end of 2025 it made pods for partner brands including Starbucks, Dunkin' and Folgers 6. But it describes growing competition among makers of compatible pods 26.
Why 3?
At the end of 2025, before JDE Peet's, its fleet held about 8,100 vehicles in the US and 2,200 in Mexico 27. It had 29 principal production plants and 169 principal warehouse and distribution sites at the same date 28. It competes with multinationals that have significant financial resources, and it says rivals' willingness to spend can push up in-store placement and slotting fees 2926. It uses contract manufacturers in Asia to build its brewers 6.
Why 3?
The company holds US and international patents on brewers and pods, but it does not view any single patent as critical to its success 3. It protects its brands, technologies and formulas with trademarks, copyrights, patents and trade secrets 3. In many countries outside the US, Canada and Mexico, rights to many of its soda brands, including Dr Pepper, belong to third parties, in some cases competitors such as Coca-Cola 3. It generally grants bottlers long-term and typically exclusive territories for its carbonated drinks in the US and Canada 30.
A moat is what keeps rivals from taking a company's customers and profits. Scores are QuantVantage.ai's judgement (5 = strongest), set with the same rubric on every explainer (orange is Keurig Dr Pepper; grey dots are peers).
🔭What should you watch next?
The planned split into two companies
Keurig Dr Pepper plans to split into two US-listed companies, Beverage Co. and Global Coffee Co., and the split was still pending on November 3, 2026 3936. If it goes ahead, Global Coffee Co., including Keurig and JDE Peet's, will be spun off and leave the company's reported figures 2539.
Where the two companies would be based
Under the 2025 plan, Beverage Co. will be based in Frisco, Texas, and Global Coffee Co. in Burlington, Massachusetts, with an international headquarters in Amsterdam 25.
Alta brewer and K-Rounds pods
The company said in February 2026 that it expected to launch its Alta brewer and K-Rounds pods, which are free of plastic and aluminum, in late 2026 32.
📚Learn the words
❓Frequently asked questions about Keurig Dr Pepper
How does Keurig Dr Pepper make money?
In FY2025, before JDE Peet's, Keurig Dr Pepper made most of its money from cold drinks and coffee pods. That year, liquid refreshment drinks brought in $11.6bn ✓, K-Cup pods $3.8bn ✓ and appliances $0.6bn ✓. None of those amounts include JDE Peet's 89. The mix has changed since then. In the third quarter of 2026, JDE Peet's added $2.6 billion 36 out of net sales of $7.3 billion 36.
Who owns Dr Pepper?
Keurig Dr Pepper counts Dr Pepper among its own brands 3. In many countries outside the US, Canada and Mexico, though, the rights to Dr Pepper belong to third parties, in some cases competitors such as Coca-Cola 3. PepsiCo also makes and distributes Dr Pepper under licence in certain markets 192021.
How did Keurig Dr Pepper start?
It was created on July 9, 2018, by combining Keurig, a maker of single-serve brewers and specialty coffee, with Dr Pepper Snapple Group, a North American drinks company 37. Former Keurig owners held about 87% of the combined company on a fully diluted basis, and former Dr Pepper Snapple holders about 13% 38.
Did Keurig Dr Pepper buy JDE Peet's?
Yes, it bought 96.22% of the shares on April 1, 2026, and held 97.75% after a further acceptance period ended on April 13, 2026 815. At June 30, 2026, it had begun statutory buy-out proceedings for the remaining shares 8. It recorded total consideration of about $17.93 billion 8.
Is Keurig Dr Pepper splitting up?
The split had not happened as of November 3, 2026 3936. The company plans to split into two US-listed companies, Beverage Co. and Global Coffee Co., with a target of early 2027 3936. Global Coffee Co. would include Keurig and JDE Peet's 2539.
Who runs Keurig Dr Pepper?
Tim Cofer has been CEO since April 26, 2024 40. He will become CEO of Beverage Co. after the planned separation 3941. On October 1, 2026, the company said Russ Torres would join on November 3, 2026, lead the coffee unit and become CEO of Global Coffee Co. 39.
Does Keurig Dr Pepper pay a dividend?
Yes, it paid $1.3bn ✓ in dividends in FY2025. It bought back only $9.0m ✓ of shares that year.
🎮Play: higher or lower, then test yourself
Figures come from each company's latest annual report (10-K); fiscal years end in different months. Sources: [7] [13] [14] [11] [24].
🧠 Test yourself
5 quick questions. Score: 0 / 5
1. Which line brought in the most sales in FY2025?
2. When was Dr Pepper introduced?
3. Which coffee company did Keurig Dr Pepper buy in 2026?
4. About how much of FY2025 sales came from Walmart?
5. K-Cup pods hold coffee and what else?
🔎Sources and method
Every figure comes from a source listed here or is calculated from those sources (marked ✓). Company financials come from the reports each company files with the SEC (10-K annual and 10-Q quarterly reports). Peer grades rank the same measures across the company and its peers. This page contains no share-price data and no valuation.
- Keurig Dr Pepper Form 10-K for fiscal year 2025 — Note 10 net sales by portfolio; MD&A sales volumes (accessed 2026-11-08)
- Keurig Dr Pepper Form 10-K for fiscal year 2025 — Item 1 segments: U.S. Refreshment Beverages products and channels (accessed 2026-11-08)
- Keurig Dr Pepper Form 10-K for fiscal year 2025 — Item 1 intellectual property and licensing (accessed 2026-11-08)
- Keurig Dr Pepper Form 10-K for fiscal year 2025 — Item 1 segments: International (accessed 2026-11-08)
- Keurig Dr Pepper (KDP) Form 10-K for fiscal year 2025, filed 2026-02-24 — revenue and cost of sales by product, segment and geography (accessed 2026-11-04)
- Keurig Dr Pepper Form 10-K for fiscal year 2025 — Item 1 segments: U.S. Coffee, K-Cup pods and brewers (accessed 2026-11-08)
- SEC EDGAR companyfacts: Keurig Dr Pepper (KDP) — annual 10-K facts (accessed 2026-11-04)
- Keurig Dr Pepper Form 10-Q for the quarter ended June 30, 2026 — Note 2: JDE Peet's acquisition, consideration, funding, pro forma (accessed 2026-11-08)
- Keurig Dr Pepper Form 10-Q for the quarter ended June 30, 2026 — Note 10: four segments, JDE Peet's description, second-quarter segment sales (accessed 2026-11-08)
- Keurig Dr Pepper Form 10-K for fiscal year 2025 — Note 4 GHOST transactions; MD&A effect on growth (accessed 2026-11-08)
- SEC EDGAR companyfacts: Monster Beverage Corp (MNST) — annual 10-K facts (accessed 2026-11-04)
- Monster Beverage Corporation Form 10-K for fiscal year ended December 31, 2023 (filed 2024-02-29) — Bang Energy acquisition, 2023 stock split (accessed 2026-11-08)
- SEC EDGAR companyfacts: COCA COLA CO (KO) — annual 10-K facts (accessed 2026-11-04)
- SEC EDGAR companyfacts: PEPSICO INC (PEP) — annual 10-K facts (accessed 2026-11-04)
- Keurig Dr Pepper press release, April 1, 2026 (8-K exhibit 99.1) — JDE Peet's closing, delisting and coffee CEO (accessed 2026-11-08)
- SEC EDGAR companyfacts: Keurig Dr Pepper (KDP) — balance sheet at 2026-06-30 (accessed 2026-11-04)
- The Coca-Cola Company Form 10-K for 2025 — Item 1 competition, raw materials, patents and trademarks, government regulation, human capital (accessed 2026-11-08)
- Keurig Dr Pepper Inc. Form 10-K for 2025 — Item 1 bottlers, competitors, trademark ownership abroad (accessed 2026-11-08)
- PepsiCo Form 10-K for fiscal year 2025 — Item 1 competition: named competitors, US liquid refreshment share, bases of competition (accessed 2026-11-08)
- PepsiCo Form 10-K for fiscal year 2025 — Item 1 overview, incorporation, countries and the six reportable segments (accessed 2026-11-08)
- Keurig Dr Pepper Form 10-K for fiscal year 2025 — Item 1 primary competitors and brands (accessed 2026-11-08)
- Monster Beverage Form 10-K for fiscal year 2025 — Item 1 competition and Coca-Cola bottler distribution (accessed 2026-11-08)
- Celsius Holdings Form 10-K for fiscal year 2025 — Item 1 competition, brands and PepsiCo distribution (accessed 2026-11-08)
- SEC EDGAR companyfacts: Celsius Holdings, Inc. (CELH) — annual 10-K facts (accessed 2026-11-04)
- Keurig Dr Pepper and JDE Peet's press release, August 25, 2025 (8-K exhibit 99.1) — Deal and separation plan, company sizes, brand sizes, headquarters, synergies (accessed 2026-11-08)
- Keurig Dr Pepper Form 10-K for fiscal year 2025 — Item 1A: Keurig brewers, compatible pods, bottlers, competition for shelf space (accessed 2026-11-08)
- Keurig Dr Pepper Form 10-K for fiscal year 2025 — Item 1 strategy: route to market, delivery fleet (accessed 2026-11-08)
- Keurig Dr Pepper Form 10-K for fiscal year 2025 — Item 2: headquarters and facilities (accessed 2026-11-08)
- Keurig Dr Pepper Form 10-K for fiscal year 2025 — Item 1 competitors (accessed 2026-11-08)
- Keurig Dr Pepper Form 10-K for fiscal year 2025 — Item 1 customers: retailers, Walmart, bottlers (accessed 2026-11-08)
- Keurig Dr Pepper Form 10-K for fiscal year 2025 — Note 9 concentration: indirect Walmart sales through bottlers (accessed 2026-11-08)
- Keurig Dr Pepper Form 10-K for fiscal year 2025 — Item 1 product innovation: new brewers, K-Rounds, Keurig Coffee Collective (accessed 2026-11-08)
- Keurig Dr Pepper Form 10-Q for the quarter ended June 30, 2026 — MD&A: Mexico sweetened beverage tax (accessed 2026-11-08)
- Keurig Dr Pepper Form 10-K for fiscal year 2025 — Item 1 raw materials and costs (accessed 2026-11-08)
- Keurig Dr Pepper Form 10-Q for the quarter ended June 30, 2026 — Legal note: single-serve antitrust litigation; tariff refund claims (accessed 2026-11-08)
- Keurig Dr Pepper third-quarter 2026 results, November 3, 2026 (8-K exhibit 99.1) — Q3 results, segments, guidance, tariff refunds (accessed 2026-11-08)
- Keurig Dr Pepper Form 10-K for fiscal year 2025 — Cover and Item 1: incorporation, fiscal year, listing, formation in 2018, brand count (accessed 2026-11-08)
- Keurig Dr Pepper Form 10-K for fiscal year 2018 — Item 1: history of Dr Pepper Snapple and Keurig; merger terms (accessed 2026-11-08)
- Keurig Dr Pepper press release, October 1, 2026 (8-K exhibit 99.1) — Global Coffee Co. CEO, separation timing, company size, employees (accessed 2026-11-08)
- Keurig Dr Pepper 2026 proxy statement — CEO background; former chair; former large holder JAB (accessed 2026-11-08)
- Keurig Dr Pepper press release, June 23, 2026 (8-K exhibit 99.1) — Leadership updates and separation timing (accessed 2026-11-08)
- Dr Pepper Snapple Group Form 10-K for fiscal year 2017 — Item 1 brand table: Dr Pepper introduced in 1885 (accessed 2026-11-08)
- Keurig Dr Pepper Form 10-K for fiscal year 2025 — Item 1 employees (accessed 2026-11-08)
- SEC EDGAR companyfacts: Keurig Dr Pepper (KDP) — quarterly 10-Q/10-K facts (accessed 2026-11-04)
- Keurig Dr Pepper third-quarter 2026 results, November 3, 2026 (8-K exhibit 99.1) — Reconciliation tables: debt, cash and leverage ratio at September 30, 2026 (accessed 2026-11-08)
- Keurig Dr Pepper Form 10-K for fiscal year 2019 — Income statement: 2019 net sales (accessed 2026-11-08)
- Keurig Dr Pepper Form 10-K for fiscal year 2018 — Notes 1 and 3: reverse merger accounting, periods shown, fiscal year (accessed 2026-11-08)
- Keurig Dr Pepper Form 8-K, September 28, 2026 — Chobani transactions completed; promissory note (accessed 2026-11-08)
- Keurig Dr Pepper and Chobani press release, September 1, 2026 (8-K exhibit 99.1) — Chobani transactions announced; use of proceeds; La Colombe distribution (accessed 2026-11-08)