Keurig Dr Pepper (KDP) FY2024 results: revenue $15.4 billion, up 3.6% on the year
Keurig Dr Pepper Inc. (KDP) reported revenue of $15.4 billion for fiscal 2024, the year ended 31 December 2024, up 3.6% on the year before. Net income was $1.4 billion, down 33.9%, and diluted earnings per share $1.05. The figures are the company's own, from the 10-K it filed with the SEC on 25 February 2025.
Revenue
$15.4 billion
+3.6% on the year
FY2017FY2024
Operating margin
16.9%
21.5% a year earlier
FY2017FY2024
Net income
$1.4 billion
-33.9% on the year
FY2017FY2024
Diluted EPS
$1.05
-32.3% on the year
FY2017FY2024
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
FY2024
FY2023
FY2022
On the year
Last 8 years
Operating cash flow
2,219
1,329
2,837
+67.0%
Capital expenditure
563
425
353
+32.5%
Free cash flow
1,656
904
2,484
+83.2%
Free cash flow margin
10.8%
6.1%
17.7%
Cash from investing
-1,614
-784
-1,135
Cash from financing
-223
-832
-1,728
Depreciation and amortisation
555
539
537
+3.0%
Share-based compensation
98.0
116
52.0
-15.5%
Buybacks
1,110
706
379
+57.2%
Dividends paid
1,194
1,142
1,080
+4.6%
Dividend per share
$0.89
$0.83
$0.78
+7.2%
Diluted shares, weighted
1,368m
1,408m
1,428m
-2.8%
Shares outstanding at period end
1,357m
1,390m
1,408m
-2.4%
Balance sheet
$ million
FY2024
FY2023
FY2022
On the year
Last 8 years
Shareholders' equity
24,243
25,676
25,126
-5.6%
Non-controlling interest
0.0
0.0
-1.0
Debt
15,554
13,191
11,967
+17.9%
Operating lease liabilities
790
793
803
-0.4%
Finance lease liabilities
677
620
618
+9.2%
Other liabilities
12,166
11,850
13,324
+2.7%
Total liabilities and equity
53,430
52,130
51,837
+2.5%
Fixed assets
2,964
2,699
2,491
+9.8%
Goodwill
20,053
20,202
20,072
-0.7%
Intangible assets
23,634
23,287
23,183
+1.5%
Cash and equivalents
510
267
535
+91.0%
Receivables
1,502
1,368
1,484
+9.8%
Inventory
1,299
1,142
1,314
+13.7%
Other assets
3,468
3,165
2,758
+9.6%
Total assets
53,430
52,130
51,837
+2.5%
10-K for the year ended 31 December 2024, filed 25 February 2025: the filing.