Keurig Dr Pepper income statement

In fiscal 2025, Keurig Dr Pepper reported revenue of $16.60bn, up 8.2% on the year before, operating income of $3.58bn (a 21.5% margin) and net income of $2.08bn, or $1.53 per diluted share. Every line below comes from the company's 10-K and 10-Q filings; column headings link to the filing.

Income statement

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

Keurig Dr Pepper: income statement, annual
Fiscal year	2009Dec 2009	2010Dec 2010	2011Dec 2011	2012Dec 2012	2013Dec 2013	2014Dec 2014	2015Dec 2015	2016Dec 2016	2017Sept 2017	2018Dec 2018	2019Dec 2019	2020Dec 2020	2021Dec 2021	2022Dec 2022	2023Dec 2023	2024Dec 2024	2025Dec 2025	LTMJun 2026
Revenue	5.5	5.6	5.9	6.0	6.0	6.1	6.3	6.4	4.3	7.4	11.1	11.6	12.7	14.1	14.8	15.4	16.6	20.1
Cost of revenue	—	—	—	—	—	—	—	—	2.2	3.6	4.8	5.1	5.7	6.7	6.7	6.8	7.6	10.2
Gross profit	3.3	3.4	3.4	3.5	3.5	3.6	3.7	3.9	2.0	3.9	6.3	6.5	7.0	7.3	8.1	8.5	9.0	9.9
Research and development	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.1	0.1	0.1	0.1	0.1	0.1	0.1	0.1	0.1	—
Selling, general and administrative	2.1	2.2	2.3	2.3	2.3	2.3	2.3	2.3	1.1	2.6	4.0	4.0	4.2	4.6	4.9	5.0	5.4	6.5
Operating income	1.1	1.0	1.0	1.1	1.0	1.2	1.3	1.4	0.9	1.2	2.4	2.5	2.9	2.6	3.2	2.6	3.6	3.3
Interest expense	0.2	0.1	0.1	0.1	0.1	0.1	0.1	0.1	0.1	0.4	0.7	0.6	0.5	0.7	0.5	—	—	—
Net interest income	−0.2	−0.1	−0.1	−0.1	−0.1	−0.1	−0.1	−0.1	−0.1	−0.4	−0.7	—	—	—	—	—	—	—
Provision for credit losses	—	—	—	—	—	—	—	—	—	0.0	0.0	0.0	—	—	—	—	—	—
Income before tax	0.9	0.8	0.9	1.0	0.5	1.1	1.2	1.3	0.6	0.8	1.7	1.8	2.8	1.7	2.8	1.9	2.7	2.0
Income tax	0.3	0.3	0.3	0.3	−0.1	0.4	0.4	0.4	0.2	0.2	0.4	0.4	0.7	0.3	0.6	0.5	0.6	0.5
Net income	0.6	0.5	0.6	0.6	0.6	0.7	0.8	0.8	0.4	0.6	1.3	1.3	2.1	1.4	2.2	1.4	2.1	1.4
Diluted EPS	$0.54	$0.54	$0.69	$0.74	$0.76	$0.89	$0.99	$1.14	$0.47	$0.53	$0.88	$0.93	$1.50	$1.01	$1.55	$1.05	$1.53	$1.05
Diluted shares (average)	1,021m	970m	885m	849m	818m	790m	770m	746m	791m	1,098m	1,419m	1,422m	1,428m	1,429m	1,408m	1,368m	1,363m	1,364m
EBITDA	1.2	1.2	1.2	1.2	1.2	1.3	1.4	1.5	1.0	1.5	2.7	2.8	3.3	3.0	3.6	3.0	4.0	3.8

US$ millions unless shown otherwise. Fiscal quarters.

Keurig Dr Pepper: income statement, quarterly
Quarter	2024 Q3Sept 2024	2024 Q4Dec 2024	2025 Q1Mar 2025	2025 Q2Jun 2025	2025 Q3Sept 2025	2025 Q4Dec 2025	2026 Q1Mar 2026	2026 Q2Jun 2026
Revenue	3,891	4,070	3,635	4,163	4,306	4,499	3,976	7,309
Cost of revenue	1,751	1,793	1,650	1,908	1,966	2,080	1,878	4,243
Gross profit	2,140	2,277	1,985	2,255	2,340	2,419	2,098	3,066
Selling, general and administrative	1,245	1,297	1,192	1,356	1,344	1,459	1,342	2,397
Operating income	902	63	801	898	995	881	756	628
Net interest income	−106	—	−148	−180	−188	—	−281	−336
Income before tax	802	−154	660	718	852	457	357	305
Income tax	186	−10	143	171	190	104	87	95
Net income	616	−144	517	547	662	353	270	142
Diluted EPS	$0.45	−$0.11	$0.38	$0.40	$0.49	$0.26	$0.20	$0.04
EBITDA	1,005	175	907	1,009	1,114	1,000	870	836

EBITDA is operating income plus depreciation and amortisation. EPS and share counts are restated for stock splits. A dash means the company did not report the line for that period; expense lines are shown as reported, so they need not add up to the totals when a company reports other items between them.

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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.