Keurig Dr Pepper (KDP) FY2023 results: revenue $14.8 billion, up 5.4% on the year
Keurig Dr Pepper Inc. (KDP) reported revenue of $14.8 billion for fiscal 2023, the year ended 31 December 2023, up 5.4% on the year before. Net income was $2.2 billion, up 51.9%, and diluted earnings per share $1.55. The figures are the company's own, from the 10-K it filed with the SEC on 22 February 2024.
Revenue
$14.8 billion
+5.4% on the year
FY2016FY2023
Operating margin
21.5%
18.5% a year earlier
FY2016FY2023
Net income
$2.2 billion
+51.9% on the year
FY2016FY2023
Diluted EPS
$1.55
+53.5% on the year
FY2016FY2023
this yearthe year beforeHover a bar for its figure.
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2023
FY2022
FY2021
On the year
Last 8 years
Operating cash flow
1,329
2,837
2,874
-53.2%
Capital expenditure
425
353
423
+20.4%
Free cash flow
904
2,484
2,451
-63.6%
Free cash flow margin
6.1%
17.7%
19.3%
Cash from investing
-784
-1,135
210
Cash from financing
-832
-1,728
-2,762
Depreciation and amortisation
539
537
544
+0.4%
Share-based compensation
116
52.0
88.0
+123.1%
Buybacks
706
379
0.0
+86.3%
Dividends paid
1,142
1,080
955
+5.7%
Dividend per share
$0.83
$0.78
$0.71
+7.1%
Diluted shares, weighted
1,408m
1,428m
1,428m
-1.4%
Shares outstanding at period end
1,390m
1,408m
1,418m
-1.3%
Balance sheet
$ million
FY2023
FY2022
FY2021
On the year
Last 8 years
Shareholders' equity
25,676
25,126
24,972
+2.2%
Non-controlling interest
0.0
-1.0
0.0
Debt
13,191
11,967
11,882
+10.2%
Operating lease liabilities
793
803
608
-1.2%
Finance lease liabilities
620
618
621
+0.3%
Other liabilities
11,850
13,324
12,515
-11.1%
Total liabilities and equity
52,130
51,837
50,598
+0.6%
Fixed assets
2,699
2,491
2,494
+8.4%
Goodwill
20,202
20,072
20,182
+0.6%
Intangible assets
23,287
23,183
23,856
+0.4%
Cash and equivalents
267
535
567
-50.1%
Receivables
1,368
1,484
1,148
-7.8%
Inventory
1,142
1,314
894
-13.1%
Other assets
3,165
2,758
1,457
+14.8%
Total assets
52,130
51,837
50,598
+0.6%
10-K for the year ended 31 December 2023, filed 22 February 2024: the filing.