KDP Keurig Dr Pepper
FY2025 10-K
Keurig Dr Pepper (KDP) filed its fiscal year 2025 10-K annual report with the SEC on Feb 24, 2026. This page provides AI-powered analysis of the filing, including business overview, management discussion, risk factors, and key financial metrics from XBRL data.
AI Filing AnalysisFY2025 10-K
Business Overview
- • North American beverage company manufacturing/distributing hot & cold beverages and Keurig single-serve brewing systems across 125+ owned, licensed, and partner brands
- • Aug 2025: announced acquisition of JDE Peet's (Jacobs, L'OR, Peet's brands) with planned post-close separation into two independent public companies — beverage vs coffee
Management Discussion & Analysis
- • Revenue $16,603M, up $1,252M (+8.2%) YoY; volume/mix +4.8% (GHOST acquisition +3.8pp) and net price realization +3.8%
- • Gross margin 54.2% vs 55.6% (-140 bps); operating margin 21.5% vs 16.9% (+460 bps), latter aided by prior-year impairment charges ($640M goodwill + intangibles) and $225M ABI termination fee comparison
Risk Factors
- • JDE Peet's acquisition (announced Aug 24, 2025) adds Russia exposure — 6% of JDE Peet's consolidated revenue, subject to Ukraine-conflict sanctions risk
- • Significant debt load post-JDE Peet's close plus Convertible Preferred Stock at 4.75% dividend rate risks credit rating downgrade from Moody's/S&P
Financial SummaryXBRL
Revenue
$16.6B
Net Income
$2.1B
Gross Margin
54.2%
Operating Margin
21.5%
Net Margin
12.5%
ROE
8.1%
Total Assets
$55.5B
EPS (Diluted)
$1.53
Operating Cash Flow
$2.0B
Source: XBRL data from Keurig Dr Pepper FY2025 10-K filing on SEC EDGAR. All figures in USD.
Other Keurig Dr Pepper Annual Reports
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