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Keurig Dr Pepper vs Pepsico: revenue, profit, margins and growth compared

Keurig Dr Pepper brought in $16.6B of revenue in fiscal 2025, Pepsico $93.9B in fiscal 2025. Revenue changed by +8.2% at Keurig Dr Pepper and +2.3% at Pepsico on the year before, so Keurig Dr Pepper grew faster. Keurig Dr Pepper kept 12.5% of its revenue as net profit, Pepsico 8.8%. Free cash flow was $1.5B at Keurig Dr Pepper and $7.7B at Pepsico.

Side by side, latest fiscal year

KDPPEP
Fiscal year endedFY2025 (December 31, 2025)FY2025 (December 27, 2025)
Revenue$16.6B$93.9B
Revenue growth+8.2%+2.3%
Net income$2.1B$8.2B
Net margin12.5%8.8%
Free cash flow$1.5B$7.7B
Free cash flow margin9.1%8.2%
Earnings per share (diluted)$1.53$6.00
Cash$1B$9.2B
Debt$13.9B$46.4B
Price to earnings20.921.4
Market value$43.5B$175.6B
Dividend yield2.88%4.37%
Rank by revenue in sector#16 of 93 · Consumer staples#3 of 93 · Consumer staples

Over the years

Revenue
KDP FY2018: $7.4BKDP FY2019: $11.1BKDP FY2020: $11.6BKDP FY2021: $12.7BKDP FY2022: $14.1BKDP FY2023: $14.8BKDP FY2024: $15.4BKDP FY2025: $16.6BPEP FY2018: $64.7BPEP FY2019: $67.2BPEP FY2020: $70.4BPEP FY2021: $79.5BPEP FY2022: $86.4BPEP FY2023: $91.5BPEP FY2024: $91.9BPEP FY2025: $93.9BFY18FY19FY20FY21FY22FY23FY24FY25
KDP $16.6BPEP $93.9B
Net income
KDP FY2018: $586MKDP FY2019: $1.3BKDP FY2020: $1.3BKDP FY2021: $2.1BKDP FY2022: $1.4BKDP FY2023: $2.2BKDP FY2024: $1.4BKDP FY2025: $2.1BPEP FY2018: $12.5BPEP FY2019: $7.3BPEP FY2020: $7.1BPEP FY2021: $7.6BPEP FY2022: $8.9BPEP FY2023: $9.1BPEP FY2024: $9.6BPEP FY2025: $8.2BFY18FY19FY20FY21FY22FY23FY24FY25
KDP $2.1BPEP $8.2B
Net margin
KDP FY2018: 7.9%KDP FY2019: 11.3%KDP FY2020: 11.4%KDP FY2021: 16.9%KDP FY2022: 10.2%KDP FY2023: 14.7%KDP FY2024: 9.4%KDP FY2025: 12.5%PEP FY2018: 19.4%PEP FY2019: 10.9%PEP FY2020: 10.1%PEP FY2021: 9.6%PEP FY2022: 10.3%PEP FY2023: 9.9%PEP FY2024: 10.4%PEP FY2025: 8.8%FY18FY19FY20FY21FY22FY23FY24FY25
KDP 12.5%PEP 8.8%
Revenue growth
KDP FY2019: +49.4%KDP FY2020: +4.5%KDP FY2021: +9.2%KDP FY2022: +10.8%KDP FY2023: +5.4%KDP FY2024: +3.6%KDP FY2025: +8.2%PEP FY2019: +3.9%PEP FY2020: +4.8%PEP FY2021: +12.9%PEP FY2022: +8.7%PEP FY2023: +5.9%PEP FY2024: +0.4%PEP FY2025: +2.3%FY19FY20FY21FY22FY23FY24FY25
KDP +8.2%PEP +2.3%
Free cash flow
KDP FY2018: $1.4BKDP FY2019: $2.1BKDP FY2020: $2BKDP FY2021: $2.5BKDP FY2022: $2.5BKDP FY2023: $904MKDP FY2024: $1.7BKDP FY2025: $1.5BPEP FY2018: $6.1BPEP FY2019: $5.4BPEP FY2020: $6.4BPEP FY2021: $7BPEP FY2022: $5.6BPEP FY2023: $7.9BPEP FY2024: $7.2BPEP FY2025: $7.7BFY18FY19FY20FY21FY22FY23FY24FY25
KDP $1.5BPEP $7.7B

Fiscal years as each company reports them; the two may end in different months.

Questions about Keurig Dr Pepper and Pepsico

Which is bigger by revenue, Keurig Dr Pepper or Pepsico?

Pepsico is bigger by revenue: $93.9B in fiscal 2025, against $16.6B for Keurig Dr Pepper in fiscal 2025.

Which keeps more of its revenue as profit, Keurig Dr Pepper or Pepsico?

Keurig Dr Pepper had a net margin of 12.5% in fiscal 2025; Pepsico had 8.8% in fiscal 2025.

Which grew revenue faster, Keurig Dr Pepper or Pepsico?

In their latest fiscal years revenue changed by +8.2% at Keurig Dr Pepper and +2.3% at Pepsico.

Where do these numbers come from?

From the annual reports each company files with the SEC (10-K, or 20-F and 40-F for foreign companies), read from their XBRL data. Margins and growth are simple arithmetic on those figures. Nothing here is a recommendation.

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