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Keurig Dr Pepper cash flow statement

In fiscal 2025, Keurig Dr Pepper's operations generated $1.99bn of cash; it spent $486m on capital projects, leaving free cash flow of $1.50bn. It returned $1.25bn in dividends and $9.0m through buybacks.

Cash flow statement

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year2009Dec 20092010Dec 20102011Dec 20112012Dec 20122013Dec 20132014Dec 20142015Dec 20152016Dec 20162017Sept 20172018Dec 20182019Dec 20192020Dec 20202021Dec 20212022Dec 20222023Dec 20232024Dec 20242025Dec 2025LTMJun 2026
Cash from operations8652,5357834828661,0221,0149611,7491,6132,4742,4562,8742,8371,3292,2191,9912,527
Depreciation and amortisation11712712612411511510599142233358362410399402422455560
Stock-based pay19293435374844455835648588521169897259
Capital spending31724623821717917017918066180330461423353425563486557
Free cash flow5482,2895452656878528357811,6831,4332,1441,9952,4512,4849041,6561,5051,970
Free cash flow after stock pay5292,2605112306508047917361,6251,3982,0801,9102,3632,4327881,5581,4081,711
Dividends paid0194251284302317355386552328448469551,0801,1421,1941,2501,249
Share buybacks01,11352240040040052151900—003797061,1109—
Shares issued————————09,0000014000———

Free cash flow is cash from operations minus capital spending. Free cash flow after stock pay also subtracts stock-based compensation, a real cost to shareholders that the cash flow statement adds back. Dividends, buybacks and shares issued are cash amounts for the period.

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Figures from Keurig Dr Pepper's SEC filings (10-K and 10-Q), retrieved October 20, 2026. How we read and check them: methodology and data sources. Not investment advice. Back to Keurig Dr Pepper.