Keurig Dr Pepper Inc.

KDPNASDAQConsumer Defensive● Active

$30.83

+$0.30(+0.97%)

Market Cap$41.9B

P/E Ratio—

52W High$35.94

52W Low$24.88

Avg Volume11.0M

Open$30.56

Beta0.42

Free Cash Flow Financials Revenue

Keurig Dr Pepper Inc. (KDP) Free Cash Flow & Analysis

Annual & trailing free cash flow, FCF margin, YoY change, valuation ratios, and peer context.

KDP · free cash flow · updated Jun 8, 2026

Core FCF metrics

KDP · FCF · TTM · margin & CAGR

Free cash flow was $1.50B for FY2025 (fiscal year ending 2025-12-31), down 9.1% year-over-year The FCF margin was 9.1%. Five-year CAGR stands at -4.9%.

FY2025 Free Cash Flow$1.50B▼ -9.1% YoY

Trailing 12M (TTM)$1.58Btrailing 4 quarters sum

FCF Margin9.1%$1.50B ÷ revenue

3-Year CAGR-15.1%FY2022 → FY2025

5-Year CAGR-4.9%FY2020 → FY2025

FormulaFCF = Operating Cash Flow − Capital ExpendituresTTM = trailing 4 quarters sumCAGR → N/A if either endpoint ≤ 0

Source: FMP /cash-flow-statement · SEC 10-K / 10-Q · USDUpdated: Jun 8, 2026

Annual free cash flow history

FCF ($B, upper) · YoY Growth % (lower)

Positive FCFNegative FCF

Free Cash Flow

YoY Growth %

Annual free cash flow data

KDP · free cash flow history · annual / quarterly

Fiscal YearOperating CFCapExFree Cash FlowYoY ChangeFCF Margin

FY2025Latest$1.99B(486M)$1.50B▼ 9.1%9.1%

FY2024$2.22B(563M)$1.66B▲ +95.3%10.8%

FY2023$1.33B(481M)$848.0M▼ 65.5%5.7%

FY2022$2.84B(379M)$2.46B▲ +1.6%17.5%

FY2021$2.87B(455M)$2.42B▲ +24.8%19.1%

FCF = Operating Cash Flow − Capital Expenditures · CapEx shown as (negative) · Source: SEC filings via FMP

FCF valuation metrics

KDP · P/FCF · FCF yield · FCF per share

Keurig Dr Pepper Inc. (KDP) trades at a FCF yield of 3.77% and a price-to-free-cash-flow ratio of 26.6x. FCF per share stands at $1.16, calculated using trailing twelve-month FCF divided by basic weighted-average shares outstanding.

FCF Yield (TTM)

3.77%

Free Cash Flow ÷ Market Cap

per FMP freeCashFlowYieldTTM definition

FCF per Share (TTM)

$1.16

TTM FCF ÷ Shares Outstanding

Price / FCF

x26.6

Share Price ÷ FCF per Share

EV / FCF (TTM)

x42.2

Enterprise Value basis

Source: FMP /key-metrics-ttm · /cash-flow-statement Q · /income-statementFY2025 · 2025-12-31

Cash flow statement summary

KDP · cash flow statement · operating / investing / financing

For FY2025, Keurig Dr Pepper Inc. generated $1.99B in operating cash flow and spent 486M in capital expenditures, yielding $1.50B in free cash flow.

Operating Activities

+$1.99B

Cash from core business operations

2025-12-31

Investing Activities

−$573.0M

CapEx, acquisitions & investments

2025-12-31

Financing Activities

−$999.0M

Buybacks, dividends & debt

2025-12-31

FCF FormulaOperating CF ($1.99B) − |CapEx| (486M) = FCF ($1.50B)

For the complete Operating / Investing / Financing line-item breakdown:

View Full Cash Flow Statement →

Free cash flow vs peers (Consumer Defensive)

KDP vs peers · FCF

#CompanyFree Cash FlowYoYFCF MarginRelative

Keurig Dr Pepper Inc.YOU

KDP

$1.50B-9.1%9.1%

10%

The Procter & Gamble Company

$14.04B-15.0%16.7%

94%

Philip Morris International Inc.

$10.66B-1.0%26.2%

71%

Costco Wholesale Corporation

COST

$7.84B+18.2%2.8%

53%

The Coca-Cola Company

$5.30B+11.7%11.0%

35%

Consumer Defensive · Sorted by FCF · FMP /cash-flow-statementFull FCF Rankings →

About Free Cash Flow & Methodology

Keurig Dr Pepper Inc. (KDP) reported free cash flow of $1.50B for FY2025 (fiscal year ending 2025-12-31), down 9.1% year-over-year. The FCF margin was 9.1%.

Based on available data, Keurig Dr Pepper Inc. has maintained positive free cash flow for at least 15 fiscal year(s). FCF peaked at $2.46B in FY2022. The 5-year CAGR stands at -4.9%.

Keurig Dr Pepper Inc.'s FCF yield is 3.77% and price-to-FCF ratio is 26.6x for FY2025, based on the latest available data.

Data sourced from FMP /cash-flow-statement · SEC 10-K / 10-Q · USD.

Q&A and summaries align with SEC 10-K/10-Q cash flow disclosures and FMP /cash-flow-statement where noted.

Revenue Financial statements Net income Earnings Forecast Price history Market cap Cash on hand P/E ratio

Frequently asked questions

KDP free cash flow · 8 questions

Keurig Dr Pepper Inc. free cash flow was $1.50B for FY2025, down 9.1% year-over-year. On a trailing twelve-month (TTM) basis, free cash flow stands at $1.58B.

KDP free cash flowKDP FCFKDP FCF 2025KDP free cash flow TTM

▸ Source: FMP /cash-flow-statement · US GAAP · Keurig Dr Pepper Inc. · Keurig Dr Pepper Inc. SEC 10-K & 10-Q filings · US GAAP · Last updated: Jun 8, 2026