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

Keurig Dr Pepper brought in $16.6B of revenue in fiscal 2025, Constellation Brands $9.8B in fiscal 2026. Revenue changed by +8.2% at Keurig Dr Pepper and -11.0% at Constellation Brands on the year before, so Keurig Dr Pepper grew faster. Keurig Dr Pepper kept 12.5% of its revenue as net profit, Constellation Brands 17.3%. Free cash flow was $1.5B at Keurig Dr Pepper and $1.8B at Constellation Brands.

Side by side, latest fiscal year

KDPSTZ
Fiscal year endedFY2025 (December 31, 2025)FY2026 (February 28, 2026)
Revenue$16.6B$9.8B
Revenue growth+8.2%-11.0%
Net income$2.1B$1.7B
Net margin12.5%17.3%
Free cash flow$1.5B$1.8B
Free cash flow margin9.1%18.4%
Earnings per share (diluted)$1.53n/a
Cash$1B$102.4M
Debt$13.9B$10.3B
Price to earnings20.9n/a
Market value$43.5B$19.4B
Dividend yield2.88%n/a
Rank by revenue in sector#16 of 93 · Consumer staples#22 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: $16.6BSTZ FY2018: $8.9BSTZ FY2020: $9.1BSTZ FY2021: $9.4BSTZ FY2022: $9.5BSTZ FY2023: $10.2BSTZ FY2024: $10.7BSTZ FY2025: $11BSTZ FY2026: $9.8BFY18FY19FY20FY21FY22FY23FY24FY25FY26
KDP $16.6BSTZ $9.8B
Net income
KDP FY2018: $586MKDP FY2019: $1.3BKDP FY2020: $1.3BKDP FY2021: $2.1BKDP FY2022: $1.4BKDP FY2023: $2.2BKDP FY2024: $1.4BKDP FY2025: $2.1BSTZ FY2018: $3.4BSTZ FY2020: -$11.8MSTZ FY2021: $2BSTZ FY2022: -$40.4MSTZ FY2023: -$71MSTZ FY2024: $1.7BSTZ FY2025: -$81.4MSTZ FY2026: $1.7BFY18FY19FY20FY21FY22FY23FY24FY25FY26
KDP $2.1BSTZ $1.7B
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%STZ FY2018: 38.7%STZ FY2020: -0.1%STZ FY2021: 21.4%STZ FY2022: -0.4%STZ FY2023: -0.7%STZ FY2024: 16.1%STZ FY2025: -0.7%STZ FY2026: 17.3%FY18FY19FY20FY21FY22FY23FY24FY25FY26
KDP 12.5%STZ 17.3%
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%STZ FY2020: +2.6%STZ FY2021: +2.7%STZ FY2022: +1.9%STZ FY2023: +6.8%STZ FY2024: +5.2%STZ FY2025: +2.3%STZ FY2026: -11.0%FY19FY20FY21FY22FY23FY24FY25FY26
KDP +8.2%STZ -11.0%
Free cash flow
KDP FY2018: $1.4BKDP FY2019: $2.1BKDP FY2020: $2BKDP FY2021: $2.5BKDP FY2022: $2.5BKDP FY2023: $904MKDP FY2024: $1.7BKDP FY2025: $1.5BSTZ FY2018: $1.4BSTZ FY2020: $1.8BSTZ FY2021: $1.9BSTZ FY2022: $1.7BSTZ FY2023: $1.7BSTZ FY2024: $1.5BSTZ FY2025: $1.9BSTZ FY2026: $1.8BFY18FY19FY20FY21FY22FY23FY24FY25FY26
KDP $1.5BSTZ $1.8B

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

Questions about Keurig Dr Pepper and Constellation Brands

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

Keurig Dr Pepper is bigger by revenue: $16.6B in fiscal 2025, against $9.8B for Constellation Brands in fiscal 2026.

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

Keurig Dr Pepper had a net margin of 12.5% in fiscal 2025; Constellation Brands had 17.3% in fiscal 2026.

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

In their latest fiscal years revenue changed by +8.2% at Keurig Dr Pepper and -11.0% at Constellation 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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