Keurig Dr Pepper
Combines North American refreshment brands with Keurig and a global coffee portfolio.
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Profile
Sells branded soft drinks, water, juice, energy drinks, Keurig brewers and K-Cup pods, plus a global coffee portfolio led by Jacobs, L'OR and Peet's. Revenue comes from concentrates, packaged beverages, coffee products and distribution, with the combined group preparing to split into two public companies.
Manufactures and distributes refreshment beverages across North America while selling coffee products worldwide. The beverage portfolio spans Dr Pepper, Canada Dry, 7UP, Snapple, Mott's, GHOST and Core Hydration; coffee combines Keurig brewers and K-Cup pods with JDE Peet's brands including Jacobs, L'OR and Peet's.
Earns from branded concentrates and syrups, packaged drinks, coffee pods and brewing systems. A company-owned direct-store-delivery network complements warehouse delivery in the United States, while the acquired coffee platform extends the business across Europe, Asia, Australia and Latin America.
Results depend on beverage demand, coffee volumes, commodity costs, and manufacturing and distribution execution. The combined group is carrying acquisition-related debt and integrating JDE Peet's while preparing to separate its beverage and coffee portfolios into two publicly traded companies.
Company facts
Key statistics
Year to date +16.0% · Average volume (30d) 11.4M
Analysts
Ratings
Target range
Latest analyst notes
| Date | Firm | Action | Prior rating | Rating | Prior target | Target |
|---|---|---|---|---|---|---|
| Aug 20, 2026 | Morgan Stanley | Target | $36 | $38 | ||
| Aug 13, 2026 | HSBC | Upgrade | Hold | Buy | $30 | $40 |
| Aug 10, 2026 | Barclays | Reiterate | Overweight | $28 | $38 | |
| Aug 4, 2026 | RBC Capital | Reiterate | Outperform | $43 | $42 | |
| Jul 16, 2026 | UBS | Reiterate | Buy | $34 | $38 |
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Aug 6, 2026Q2 FY26 | $0.54 | $0.57 | +6.1% | $7.23B | $7.31B | +1.1% | −1.24% |
| Apr 23, 2026Q1 FY26 | $0.37 | $0.39 | +4.7% | $3.84B | $3.98B | +3.7% | +2.42% |
| Feb 24, 2026Q4 FY25 | $0.59 | $0.60 | +1.9% | $4.36B | $4.50B | +3.2% | −2.84% |
| Oct 27, 2025Q3 FY25 | $0.54 | $0.54 | +0.6% | $4.15B | $4.31B | +3.7% | −1.30% |
Financial highlights
| 12 quarters | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $3.64B | $4.16B | $4.31B | $4.50B | $3.98B | $7.31B | |
| Gross profit | $1.99B | $2.26B | $2.34B | $2.42B | $2.10B | $3.07B | |
| Operating income | $801.0M | $898.0M | $995.0M | $959.0M | $756.0M | $669.0M | |
| Net income | $517.0M | $547.0M | $662.0M | $353.0M | $270.0M | $142.0M | |
| Diluted EPS | $0.38 | $0.40 | $0.49 | $0.26 | $0.20 | $0.04 | |
| Gross margin | 54.6% | 54.2% | 54.3% | 53.8% | 52.8% | 41.9% | |
| Operating margin | 22.0% | 21.6% | 23.1% | 21.3% | 19.0% | 9.2% |
Fiscal years (4-quarter sums)FY21 $12.68B · FY22 $14.06B · FY23 $14.81B · FY24 $15.35B · FY25 $16.60B
Revenue by product · Q2 FY26
Revenue by geography · Q1 FY26
Balance sheet, Jun 30, 2026Cash & short-term investments $1.52B · Total debt $34.40B · Total assets $87.62B · Shareholders' equity $25.03B
Dividends
Raised for 6 straight years — most recently to $0.23 from $0.215 in Sep 2024. To collect a payout, hold shares through the close before the ex-date.
History
| Ex-date | Record | Paid | Amount | Note |
|---|---|---|---|---|
| Jun 26, 2026 | Jun 26 | Jul 10 | $0.23 | |
| Mar 27, 2026 | Mar 27 | Apr 10 | $0.23 | |
| Jan 2, 2026 | Jan 2 | Jan 16 | $0.23 | |
| Sep 26, 2025 | Sep 26 | Oct 10 | $0.23 | |
| Jun 27, 2025 | Jun 27 | Jul 11 | $0.23 | |
| Mar 28, 2025 | Mar 28 | Apr 11 | $0.23 | |
| Jan 3, 2025 | Jan 3 | Jan 17 | $0.23 | |
| Sep 27, 2024 | Sep 27 | Oct 11 | $0.23 | raised from $0.215 |
Ownership
A 13F quarter can total more than the shares outstanding — sub-advisers file the same block twice, and a filer's own share count can be a quarter stale. No split is drawn from it.
Shares outstanding 1.36B · Float 1.35B · 99.5% free float
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| FMR LLC | 172.40M | 12.67% | 13F | Aug 13, 2026 |
| BlackRock, Inc. | 143.53M | 10.55% | 13F | Aug 7, 2026 |
| JAB BevCo B.V. · 10 percent owner | 134.11M | 9.86% | Form 4 | Feb 28, 2025 |
| Capital World Investors | 118.73M | 8.73% | 13F | Aug 12, 2026 |
| Harris Associates L P | 92.85M | 6.82% | 13F | Aug 14, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Aug 25, 2026 | Aaron E. Alt | director | +7,862 | $31.83 |
| Dec 12, 2025 | Angela A. Stephens | officer: Senior VP & Controller | −10,000 | $29.52 |
| Sep 11, 2025 | Eric Gorli | officer: President, US Refreshment Bev. | +9,175 | $27.69 |
Peers
- Coca-Cola
Broadest rival — CSD, energy, juice, water, and functional beverages at scale.
- PepsiCo
CSD, hydration, and energy rival; Pepsi-Cola now ranks #3 in US soda.
- Monster Beverage
#1 energy brand challenged by Ghost / C4 / Bloom at the convenience cooler.
- J.M. Smucker
Folgers and Dunkin' K-Cups contest Green Mountain and McCafé on the pod shelf.
- Celsius
#3 US energy brand via PepsiCo; Ghost was acquired partly to contest it.
- Starbucks
Starbucks K-Cups and RTD coffee rival KDP's own coffee brands in grocery.
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Keurig Dr Pepper | $32.50 | +1.03% | $43.78B | 32.4 | 13.1 | 2.2 | +75.6% |
| Coca-Cola | $89.75 | +0.11% | $385.77B | 26.9 | 26.5 | 7.7 | +6.7% |
| PepsiCo | $141.75 | +0.48% | $192.70B | 18.5 | 16.2 | 2.0 | +6.4% |
| Monster Beverage | $46.92 | +0.13% | $91.66B | 43.2 | 38.3 | 9.9 | +20.2% |
| J.M. Smucker | $132.34 | −0.00% | $14.14B | 61.8 | 13.0 | 1.5 | +5.0% |
| Celsius | $32.98 | −0.03% | $8.43B | 157.0 | 21.4 | 2.8 | +10.6% |
| Starbucks | $108.15 | +0.30% | $122.95B | 62.0 | 36.0 | 3.2 | −1.4% |
| Median | 52.5 | 24.0 | 3.0 | +6.5% |