Keurig Dr Pepper Inc. (KDP)
NASDAQ: KDP · Real-Time Price · USD
32.18
+0.30 (0.94%)
At close: Aug 28, 2026, 4:00 PM EDT
32.50
+0.32 (0.99%)
After-hours: Aug 28, 2026, 7:50 PM EDT
Keurig Dr Pepper Cash Flow Statement
Financials in millions USD. Fiscal year is January - December.
Millions USD. Fiscal year is Jan - Dec.
Operating Activities
Fiscal Year | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
Period Ending | Jun '26 Jun 30, 2026 | Dec '25 Dec 31, 2025 | Dec '24 Dec 31, 2024 | Dec '23 Dec 31, 2023 | Dec '22 Dec 31, 2022 | Dec '21 Dec 31, 2021 |
Net Income | 1,427 | 2,079 | 1,441 | 2,181 | 1,436 | 2,146 |
Depreciation & Amortization | 970 | 753 | 733 | 720 | 709 | 708 |
Loss (Gain) From Sale of Assets | 14 | -2 | 16 | -1 | -80 | -75 |
Asset Writedown & Restructuring Costs | 78 | 78 | 718 | 2 | 477 | - |
Loss (Gain) From Sale of Investments | - | - | - | - | -38 | -507 |
Loss (Gain) on Equity Investments | -146 | -135 | -136 | -77 | 5 | 5 |
Stock-Based Compensation | 114 | 97 | 98 | 116 | 52 | 88 |
Other Operating Activities | 538 | 124 | -60 | 135 | 551 | 158 |
Change in Accounts Receivable | -155 | -202 | -209 | 70 | -398 | -152 |
Change in Inventory | 159 | -405 | -92 | 182 | -426 | -133 |
Change in Accounts Payable | -207 | -212 | -196 | -1,618 | 903 | 762 |
Change in Income Taxes | -40 | -141 | 133 | -199 | -105 | 114 |
Change in Other Net Operating Assets | -328 | -43 | -227 | -182 | -249 | -240 |
Operating Cash Flow | 2,527 | 1,991 | 2,219 | 1,329 | 2,837 | 2,874 |
Operating Cash Flow Growth | 19.37% | -10.27% | 66.97% | -53.15% | -1.29% | 17.02% |
Investing Activities
Fiscal Year | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
Period Ending | Jun '26 Jun 30, 2026 | Dec '25 Dec 31, 2025 | Dec '24 Dec 31, 2024 | Dec '23 Dec 31, 2023 | Dec '22 Dec 31, 2022 | Dec '21 Dec 31, 2021 |
Capital Expenditures | -557 | -486 | -563 | -425 | -353 | -423 |
Sale of Property, Plant & Equipment | 20 | 14 | 4 | 9 | 168 | 122 |
Cash Acquisitions | -16,653 | -149 | -1,000 | - | - | - |
Sale (Purchase) of Intangibles | -5 | -17 | -59 | -56 | -26 | -32 |
Investment in Securities | -1 | -1 | -7 | -316 | -912 | 578 |
Other Investing Activities | 2 | 66 | 11 | 4 | -12 | -35 |
Investing Cash Flow | -17,194 | -573 | -1,614 | -784 | -1,135 | 210 |
Financing Activities
Fiscal Year | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
Period Ending | Jun '26 Jun 30, 2026 | Dec '25 Dec 31, 2025 | Dec '24 Dec 31, 2024 | Dec '23 Dec 31, 2023 | Dec '22 Dec 31, 2022 | Dec '21 Dec 31, 2021 |
Short-Term Debt Issued | - | 594 | - | 1,697 | 250 | 5,406 |
Long-Term Debt Issued | - | 2,000 | 3,990 | - | 3,000 | 2,150 |
Total Debt Issued | 10,328 | 2,594 | 3,990 | 1,697 | 3,250 | 7,556 |
Short-Term Debt Repaid | - | - | -480 | - | - | -5,257 |
Long-Term Debt Repaid | - | -2,148 | -1,265 | -595 | -3,455 | -4,074 |
Total Debt Repaid | -1,141 | -2,148 | -1,745 | -595 | -3,455 | -9,331 |
Net Debt Issued (Repaid) | 9,187 | 446 | 2,245 | 1,102 | -205 | -1,775 |
Issuance of Common Stock | - | - | - | - | - | 140 |
Repurchase of Common Stock | -34 | -40 | -1,171 | -768 | -394 | -125 |
Common Dividends Paid | -1,249 | -1,250 | -1,194 | -1,142 | -1,080 | -955 |
Other Financing Activities | 3,711 | -155 | -103 | -24 | -49 | -47 |
Financing Cash Flow | 15,956 | -999 | -223 | -832 | -1,728 | -2,762 |
Net Cash Flow
Fiscal Year | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
Period Ending | Jun '26 Jun 30, 2026 | Dec '25 Dec 31, 2025 | Dec '24 Dec 31, 2024 | Dec '23 Dec 31, 2023 | Dec '22 Dec 31, 2022 | Dec '21 Dec 31, 2021 |
Foreign Exchange Rate Adjustments | -301 | 17 | -41 | 19 | -7 | -9 |
Net Cash Flow | 988 | 436 | 341 | -268 | -33 | 313 |
Free Cash Flow
Fiscal Year | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
Period Ending | Jun '26 Jun 30, 2026 | Dec '25 Dec 31, 2025 | Dec '24 Dec 31, 2024 | Dec '23 Dec 31, 2023 | Dec '22 Dec 31, 2022 | Dec '21 Dec 31, 2021 |
Free Cash Flow | 1,970 | 1,505 | 1,656 | 904 | 2,484 | 2,451 |
Free Cash Flow Growth | 23.05% | -9.12% | 83.19% | -63.61% | 1.35% | 22.86% |
Free Cash Flow Margin | 9.81% | 9.06% | 10.79% | 6.10% | 17.67% | 19.32% |
Free Cash Flow Per Share | 1.45 | 1.10 | 1.21 | 0.64 | 1.74 | 1.72 |
Levered Free Cash Flow | 4,607 | 1,134 | 1,293 | 664.88 | 1,874 | 2,369 |
Unlevered Free Cash Flow | 5,156 | 1,605 | 1,753 | 974.88 | 2,307 | 2,681 |
Additional Metrics
Fiscal Year | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
Period Ending | Jun '26 Jun 30, 2026 | Dec '25 Dec 31, 2025 | Dec '24 Dec 31, 2024 | Dec '23 Dec 31, 2023 | Dec '22 Dec 31, 2022 | Dec '21 Dec 31, 2021 |
Cash Interest Paid | 666 | 594 | 494 | 443 | 363 | 477 |
Cash Income Tax Paid | 400 | 460 | 331 | 507 | 686 | 506 |
Change in Working Capital | -571 | -1,003 | -591 | -1,747 | -275 | 351 |