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

Keurig Dr Pepper brought in $16.6B of revenue in fiscal 2025, Primo Brands $6.7B in fiscal 2025. Revenue changed by +8.2% at Keurig Dr Pepper and +29.3% at Primo Brands on the year before, so Primo Brands grew faster. Keurig Dr Pepper kept 12.5% of its revenue as net profit, Primo Brands 0.9%. Free cash flow was $1.5B at Keurig Dr Pepper and $302.9M at Primo Brands.

Side by side, latest fiscal year

KDPPRMB
Fiscal year endedFY2025 (December 31, 2025)FY2025 (December 31, 2025)
Revenue$16.6B$6.7B
Revenue growth+8.2%+29.3%
Net income$2.1B$60.1M
Net margin12.5%0.9%
Free cash flow$1.5B$302.9M
Free cash flow margin9.1%4.5%
Earnings per share (diluted)$1.53$0.16
Cash$1B$376.7M
Debt$13.9B$5.1B
Price to earnings20.9121.9
Market value$43.5B$7.1B
Dividend yield2.88%2.05%
Rank by revenue in sector#16 of 93 · Consumer staples#33 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: $16.6BPRMB FY2022: $4.4BPRMB FY2024: $4.7BPRMB FY2024: $5.2BPRMB FY2025: $6.7BFY18FY19FY20FY21FY22FY23FY24FY25
KDP $16.6BPRMB $6.7B
Net income
KDP FY2018: $586MKDP FY2019: $1.3BKDP FY2020: $1.3BKDP FY2021: $2.1BKDP FY2022: $1.4BKDP FY2023: $2.2BKDP FY2024: $1.4BKDP FY2025: $2.1BPRMB FY2022: -$126.7MPRMB FY2024: $92.8MPRMB FY2024: -$16.4MPRMB FY2025: $60.1MFY18FY19FY20FY21FY22FY23FY24FY25
KDP $2.1BPRMB $60.1M
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%PRMB FY2022: -2.9%PRMB FY2024: 2.0%PRMB FY2024: -0.3%PRMB FY2025: 0.9%FY18FY19FY20FY21FY22FY23FY24FY25
KDP 12.5%PRMB 0.9%
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%PRMB FY2024: +5.8%PRMB FY2024: +9.7%PRMB FY2025: +29.3%FY19FY20FY21FY22FY23FY24FY25
KDP +8.2%PRMB +29.3%
Free cash flow
KDP FY2018: $1.4BKDP FY2019: $2.1BKDP FY2020: $2BKDP FY2021: $2.5BKDP FY2022: $2.5BKDP FY2023: $904MKDP FY2024: $1.7BKDP FY2025: $1.5BPRMB FY2022: -$150.2MPRMB FY2024: $117.3MPRMB FY2024: $313.6MPRMB FY2025: $302.9MFY18FY19FY20FY21FY22FY23FY24FY25
KDP $1.5BPRMB $302.9M

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

Questions about Keurig Dr Pepper and Primo Brands

Which is bigger by revenue, Keurig Dr Pepper or Primo Brands?

Keurig Dr Pepper is bigger by revenue: $16.6B in fiscal 2025, against $6.7B for Primo Brands in fiscal 2025.

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

Keurig Dr Pepper had a net margin of 12.5% in fiscal 2025; Primo Brands had 0.9% in fiscal 2025.

Which grew revenue faster, Keurig Dr Pepper or Primo Brands?

In their latest fiscal years revenue changed by +8.2% at Keurig Dr Pepper and +29.3% at Primo Brands.

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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