Keurig Dr Pepper Inc. (KDP)
NASDAQ: KDP · Real-Time Price · USD
36.63
-0.26 (-0.70%)
At close: Nov 6, 2026, 4:00 PM EST
36.60
-0.03 (-0.08%)
After-hours: Nov 6, 2026, 7:59 PM EST
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 Quarter | Q3 2026 | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 | Q2 2022 | Q1 2022 | Q4 2021 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Period Ending | Sep '26 Sep 30, 2026 | Jun '26 Jun 30, 2026 | Mar '26 Mar 31, 2026 | Dec '25 Dec 31, 2025 | Sep '25 Sep 30, 2025 | Jun '25 Jun 30, 2025 | Mar '25 Mar 31, 2025 | Dec '24 Dec 31, 2024 | Sep '24 Sep 30, 2024 | Jun '24 Jun 30, 2024 | Mar '24 Mar 31, 2024 | Dec '23 Dec 31, 2023 | Sep '23 Sep 30, 2023 | Jun '23 Jun 30, 2023 | Mar '23 Mar 31, 2023 | Dec '22 Dec 31, 2022 | Sep '22 Sep 30, 2022 | Jun '22 Jun 30, 2022 | Mar '22 Mar 31, 2022 | Dec '21 Dec 31, 2021 |
Net Income | 882 | 142 | 270 | 353 | 662 | 547 | 517 | -144 | 616 | 515 | 454 | 693 | 518 | 503 | 467 | 453 | 180 | 218 | 585 | 843 |
Depreciation & Amortization | 373 | 380 | 185 | 199 | 206 | 185 | 163 | 183 | 175 | 205 | 170 | 182 | 177 | 175 | 186 | 179 | 172 | 176 | 182 | 185 |
Other Amortization | 6 | 11 | 98 | - | - | 3 | 3 | - | - | - | - | - | - | - | - | - | - | - | - | - |
Loss (Gain) From Sale of Assets | 59 | - | 10 | 1 | 3 | - | -6 | -3 | 1 | 17 | 1 | 2 | -1 | 3 | -5 | -42 | -5 | 5 | -38 | -70 |
Asset Writedown & Restructuring Costs | - | - | - | 78 | - | - | - | 718 | - | - | - | - | 2 | - | - | 166 | 311 | - | - | - |
Loss (Gain) From Sale of Investments | -400 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 6 | -44 | -507 |
Loss (Gain) on Equity Investments | -26 | -24 | -24 | -52 | -46 | -17 | -20 | -50 | -24 | -10 | -52 | -51 | -10 | -5 | -11 | -1 | 1 | 2 | 3 | 3 |
Stock-Based Compensation | 33 | 32 | 30 | 27 | 25 | 23 | 22 | 22 | 24 | 24 | 28 | 30 | 29 | 28 | 29 | 9 | 31 | 27 | -15 | 20 |
Other Operating Activities | 29 | 397 | -13 | 238 | -75 | 32 | -62 | -177 | 14 | 47 | 56 | 24 | 162 | 38 | -89 | 21 | 4 | 456 | 70 | 109 |
Change in Accounts Receivable | -181 | -68 | 118 | -186 | -19 | -161 | 164 | -61 | -81 | -109 | 42 | -100 | 8 | 134 | 28 | -26 | -166 | -133 | -73 | -26 |
Change in Inventory | 27 | 234 | -101 | 113 | -102 | -192 | -239 | 128 | -101 | -54 | -65 | 213 | 30 | 13 | -74 | 126 | -206 | -199 | -147 | 77 |
Change in Accounts Payable | 47 | 41 | -129 | -72 | -47 | 80 | -173 | 79 | 39 | 84 | -398 | -463 | -393 | -371 | -391 | -111 | 334 | 529 | 151 | 226 |
Change in Income Taxes | 104 | -28 | 43 | -114 | 59 | -59 | -27 | 140 | 27 | -24 | -10 | -160 | 31 | -130 | 60 | 1 | 139 | -380 | 135 | 125 |
Change in Other Net Operating Assets | 91 | -222 | -206 | 127 | -27 | -10 | -133 | 14 | -62 | -38 | -141 | -73 | 27 | -7 | -129 | -36 | -36 | -31 | -146 | -44 |
Operating Cash Flow | 1,044 | 895 | 281 | 712 | 639 | 431 | 209 | 849 | 628 | 657 | 85 | 297 | 580 | 381 | 71 | 739 | 759 | 676 | 663 | 941 |
Operating Cash Flow Growth (YoY) | 63.38% | 107.66% | 34.45% | -16.14% | 1.75% | -34.40% | 145.88% | 185.86% | 8.28% | 72.44% | 19.72% | -59.81% | -23.58% | -43.64% | -89.29% | -21.47% | -4.41% | 14.00% | 21.43% | 19.11% |
Investing Activities
Fiscal Quarter | Q3 2026 | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 | Q2 2022 | Q1 2022 | Q4 2021 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Period Ending | Sep '26 Sep 30, 2026 | Jun '26 Jun 30, 2026 | Mar '26 Mar 31, 2026 | Dec '25 Dec 31, 2025 | Sep '25 Sep 30, 2025 | Jun '25 Jun 30, 2025 | Mar '25 Mar 31, 2025 | Dec '24 Dec 31, 2024 | Sep '24 Sep 30, 2024 | Jun '24 Jun 30, 2024 | Mar '24 Mar 31, 2024 | Dec '23 Dec 31, 2023 | Sep '23 Sep 30, 2023 | Jun '23 Jun 30, 2023 | Mar '23 Mar 31, 2023 | Dec '22 Dec 31, 2022 | Sep '22 Sep 30, 2022 | Jun '22 Jun 30, 2022 | Mar '22 Mar 31, 2022 | Dec '21 Dec 31, 2021 |
Capital Expenditures | -160 | -181 | -116 | -148 | -112 | -106 | -120 | -165 | -125 | -115 | -158 | -154 | -122 | -87 | -62 | -93 | -74 | -77 | -109 | -98 |
Sale of Property, Plant & Equipment | 126 | - | 19 | - | 1 | - | 13 | 3 | - | 1 | - | - | 1 | 1 | 7 | 89 | 1 | - | 78 | 104 |
Cash Acquisitions | -18 | -16,615 | - | -35 | -3 | -111 | - | -915 | -85 | - | - | - | - | - | - | - | - | - | - | - |
Sale (Purchase) of Intangibles | - | -2 | -2 | -1 | - | -2 | -14 | -10 | - | -18 | -31 | -1 | - | -4 | -51 | -7 | -9 | - | -10 | -1 |
Investment in Securities | 400 | - | - | - | - | - | - | - | - | -1 | -6 | -8 | -300 | -8 | - | -914 | - | -45 | 47 | 578 |
Other Investing Activities | - | -3 | 1 | 1 | 2 | -2 | 64 | 11 | 1 | -3 | 2 | 2 | 1 | - | 1 | 3 | - | -12 | -3 | -23 |
Investing Cash Flow | 348 | -16,801 | -98 | -183 | -112 | -221 | -57 | -1,076 | -209 | -136 | -193 | -161 | -420 | -98 | -105 | -922 | -82 | -134 | 3 | 560 |
Financing Activities
Fiscal Quarter | Q3 2026 | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 | Q2 2022 | Q1 2022 | Q4 2021 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Period Ending | Sep '26 Sep 30, 2026 | Jun '26 Jun 30, 2026 | Mar '26 Mar 31, 2026 | Dec '25 Dec 31, 2025 | Sep '25 Sep 30, 2025 | Jun '25 Jun 30, 2025 | Mar '25 Mar 31, 2025 | Dec '24 Dec 31, 2024 | Sep '24 Sep 30, 2024 | Jun '24 Jun 30, 2024 | Mar '24 Mar 31, 2024 | Dec '23 Dec 31, 2023 | Sep '23 Sep 30, 2023 | Jun '23 Jun 30, 2023 | Mar '23 Mar 31, 2023 | Dec '22 Dec 31, 2022 | Sep '22 Sep 30, 2022 | Jun '22 Jun 30, 2022 | Mar '22 Mar 31, 2022 | Dec '21 Dec 31, 2021 |
Short-Term Debt Issued | - | - | - | - | - | - | 1,356 | - | - | - | - | - | - | - | 265 | - | - | - | - | - |
Long-Term Debt Issued | - | - | 9,629 | - | - | - | - | - | - | - | 3,000 | - | - | - | - | - | - | - | - | - |
Total Debt Issued | - | 105 | 9,629 | 594 | - | 644 | 1,356 | 990 | - | - | 3,000 | 947 | 161 | 324 | 265 | 1,198 | -500 | 3,500 | - | 650 |
Short-Term Debt Repaid | - | - | -21 | - | - | - | - | - | - | - | -188 | - | - | - | - | - | - | - | -149 | - |
Long-Term Debt Repaid | - | - | -34 | - | - | - | -1,015 | - | - | - | -1,181 | - | - | - | -24 | - | - | - | -221 | - |
Total Debt Repaid | -1,205 | -659 | -55 | -308 | -119 | -706 | -1,015 | -359 | 46 | -63 | -1,369 | -521 | -25 | -25 | -24 | -824 | 476 | -3,685 | -370 | -1,513 |
Net Debt Issued (Repaid) | -1,205 | -554 | 9,574 | 286 | -119 | -62 | 341 | 631 | 46 | -63 | 1,631 | 426 | 136 | 299 | 241 | 374 | -24 | -185 | -370 | -863 |
Repurchase of Common Stock | -3 | -6 | -25 | -2 | -1 | -14 | -23 | -8 | -15 | -2 | -1,146 | -254 | -25 | -227 | -262 | -296 | -2 | -91 | -5 | - |
Preferred Dividends Paid | -53 | -54 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Common Dividends Paid | -314 | -312 | -312 | -313 | -312 | -313 | -312 | -311 | -292 | -292 | -299 | -300 | -279 | -282 | -281 | -284 | -265 | -266 | -265 | -268 |
Dividends Paid | -367 | -366 | -312 | -313 | -312 | -313 | -312 | -311 | -292 | -292 | -299 | -300 | -279 | -282 | -281 | -284 | -265 | -266 | -265 | -268 |
Other Financing Activities | -100 | -73 | 3,913 | -36 | -93 | -13 | -13 | -31 | -21 | -23 | -28 | -7 | -6 | -10 | -1 | -7 | -3 | -35 | -4 | -1 |
Financing Cash Flow | -1,675 | -1,093 | 17,639 | -65 | -525 | -402 | -7 | 281 | -282 | -380 | 158 | -135 | -174 | -220 | -303 | -213 | -294 | -577 | -644 | -1,132 |
Net Cash Flow
Fiscal Quarter | Q3 2026 | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 | Q2 2022 | Q1 2022 | Q4 2021 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Period Ending | Sep '26 Sep 30, 2026 | Jun '26 Jun 30, 2026 | Mar '26 Mar 31, 2026 | Dec '25 Dec 31, 2025 | Sep '25 Sep 30, 2025 | Jun '25 Jun 30, 2025 | Mar '25 Mar 31, 2025 | Dec '24 Dec 31, 2024 | Sep '24 Sep 30, 2024 | Jun '24 Jun 30, 2024 | Mar '24 Mar 31, 2024 | Dec '23 Dec 31, 2023 | Sep '23 Sep 30, 2023 | Jun '23 Jun 30, 2023 | Mar '23 Mar 31, 2023 | Dec '22 Dec 31, 2022 | Sep '22 Sep 30, 2022 | Jun '22 Jun 30, 2022 | Mar '22 Mar 31, 2022 | Dec '21 Dec 31, 2021 |
Foreign Exchange Rate Adjustments | 36 | -164 | -150 | 11 | 2 | 6 | -2 | -6 | -15 | -20 | - | 6 | -4 | 11 | 6 | 3 | -9 | -5 | 4 | -4 |
Net Cash Flow | -247 | -17,163 | 17,672 | 475 | 4 | -186 | 143 | 48 | 122 | 121 | 50 | 7 | -18 | 74 | -331 | -393 | 374 | -40 | 26 | 365 |
Free Cash Flow
Fiscal Quarter | Q3 2026 | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 | Q2 2022 | Q1 2022 | Q4 2021 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Period Ending | Sep '26 Sep 30, 2026 | Jun '26 Jun 30, 2026 | Mar '26 Mar 31, 2026 | Dec '25 Dec 31, 2025 | Sep '25 Sep 30, 2025 | Jun '25 Jun 30, 2025 | Mar '25 Mar 31, 2025 | Dec '24 Dec 31, 2024 | Sep '24 Sep 30, 2024 | Jun '24 Jun 30, 2024 | Mar '24 Mar 31, 2024 | Dec '23 Dec 31, 2023 | Sep '23 Sep 30, 2023 | Jun '23 Jun 30, 2023 | Mar '23 Mar 31, 2023 | Dec '22 Dec 31, 2022 | Sep '22 Sep 30, 2022 | Jun '22 Jun 30, 2022 | Mar '22 Mar 31, 2022 | Dec '21 Dec 31, 2021 |
Free Cash Flow | 884 | 714 | 165 | 564 | 527 | 325 | 89 | 684 | 503 | 542 | -73 | 143 | 458 | 294 | 9 | 646 | 685 | 599 | 554 | 843 |
Free Cash Flow Growth (YoY) | 67.74% | 119.69% | 85.39% | -17.54% | 4.77% | -40.04% | - | 378.32% | 9.83% | 84.35% | - | -77.86% | -33.14% | -50.92% | -98.38% | -23.37% | 1.78% | 23.76% | 22.84% | 23.07% |
Free Cash Flow Margin | 12.04% | 9.77% | 4.15% | 12.54% | 12.24% | 7.81% | 2.45% | 16.81% | 12.93% | 13.82% | -2.10% | 3.70% | 12.04% | 7.76% | 0.27% | 16.99% | 18.91% | 16.85% | 18.00% | 24.86% |
Free Cash Flow Per Share | 0.65 | 0.52 | 0.12 | 0.41 | 0.39 | 0.24 | 0.07 | 0.50 | 0.37 | 0.40 | -0.05 | 0.10 | 0.33 | 0.21 | 0.01 | 0.45 | 0.48 | 0.42 | 0.39 | 0.59 |
Levered Free Cash Flow | 795.5 | 21,091 | -17,501 | 431.5 | 513.38 | 216.75 | -21.88 | 690.13 | 487.5 | 376.63 | -261.13 | 249.25 | 228.13 | 177.13 | 1.63 | 601.38 | 716.88 | 364.13 | 191.75 | 989.75 |
Unlevered Free Cash Flow | 1,081 | 21,290 | -17,424 | 580.25 | 630.88 | 326.25 | 67.63 | 844.5 | 553.75 | 504.13 | -149.88 | 289.25 | 376.25 | 284.63 | 16 | 678.25 | 846.25 | 473.5 | 309.25 | 1,064 |
Additional Metrics
Fiscal Quarter | Q3 2026 | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 | Q2 2022 | Q1 2022 | Q4 2021 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Period Ending | Sep '26 Sep 30, 2026 | Jun '26 Jun 30, 2026 | Mar '26 Mar 31, 2026 | Dec '25 Dec 31, 2025 | Sep '25 Sep 30, 2025 | Jun '25 Jun 30, 2025 | Mar '25 Mar 31, 2025 | Dec '24 Dec 31, 2024 | Sep '24 Sep 30, 2024 | Jun '24 Jun 30, 2024 | Mar '24 Mar 31, 2024 | Dec '23 Dec 31, 2023 | Sep '23 Sep 30, 2023 | Jun '23 Jun 30, 2023 | Mar '23 Mar 31, 2023 | Dec '22 Dec 31, 2022 | Sep '22 Sep 30, 2022 | Jun '22 Jun 30, 2022 | Mar '22 Mar 31, 2022 | Dec '21 Dec 31, 2021 |
Cash Interest Paid | - | 252 | 97 | 217 | 100 | 184 | 93 | 186 | 97 | 187 | 24 | 188 | 24 | 192 | 39 | 127 | 28 | 181 | 27 | 193 |
Cash Income Tax Paid | - | 169 | 47 | 138 | 46 | 216 | 60 | 85 | 41 | 179 | 26 | 94 | 94 | 270 | 49 | 120 | 104 | 425 | 37 | 98 |
Change in Working Capital | 88 | -43 | -275 | -132 | -136 | -342 | -408 | 300 | -178 | -141 | -572 | -583 | -297 | -361 | -506 | -46 | 65 | -214 | -80 | 358 |