Keurig Dr Pepper (KDP) Operating Expenses (2009 - 2026)
Keurig Dr Pepper's Operating Expenses came in at $2.4 billion for Q2 2026, up 76.8% from $1.36 billion a year earlier and up 78.6% from the prior quarter.
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Analysis
Keurig Dr Pepper (KDP) Operating Expenses (2009 - 2026) Analysis & Trends
Over the trailing twelve months to Jun 30, 2026, Keurig Dr Pepper reported Operating Expenses of $6.54 billion, up 28.5% year-over-year; for FY2025, it was $5.35 billion, up 6.7% from FY2024.
- Operating Expenses has increased in each of the last seven years, with a five-year compound annual growth rate of 6.1% (FY2020 to FY2025).
- Going back by year, Operating Expenses was $5.01 billion in FY2024 (+2.1%), $4.91 billion in FY2023 (+5.7%), $4.65 billion in FY2022 (+11.8%) and $4.15 billion in FY2021 (+4.4%).
- The Q2 2026 figure represents the highest quarterly Operating Expenses in data going back to Q1 2009.
- Year-over-year, Operating Expenses has increased for 21 consecutive quarters, with growth averaging 15.2% over the last eight quarters.
- Across the past five years, year-over-year growth in Operating Expenses ran from 0.9% in Q1 2024 to 76.8% in Q2 2026.
- Business Quant data shows KDP's Operating Expenses at $1.34 billion (Q1 2026), $1.46 billion (Q4 2025) and $1.34 billion (Q3 2025) in the three quarters before Q2 2026.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | Coca Cola | 396.95 Bn | 383.42 Bn | 8.42 Bn | 3.72 Bn |
| 2 | Coca Cola Femsa Sab De Cv | 195.90 Bn | 195.90 Bn | 2.06 Bn | 1.49 Bn |
| 3 | Pepsico | 177.13 Bn | 134.89 Bn | 13.75 Bn | 9.49 Bn |
| 4 | Monster Beverage | 88.55 Bn | 76.80 Bn | 1.42 Bn | 679.19 Mn |
| 5 | Diageo | 52.36 Bn | 32.42 Bn | - | - |
| 6 | Ambev | 51.15 Bn | 36.44 Bn | 2.06 Bn | -263.15 Mn |
| 7 | Coca-Cola Europacific Partners | 50.01 Bn | 42.68 Bn | - | -1.63 Bn |
| 8 | Keurig Dr Pepper | 46.09 Bn | 42.13 Bn | 3.07 Bn | 2.40 Bn |
| 9 | Constellation Brands | 22.13 Bn | 21.68 Bn | 1.39 Bn | 538.20 Mn |
| 10 | Coca-Cola Consolidated | 13.88 Bn | 11.51 Bn | 778.41 Mn | 507.07 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 2.40 Bn |
| Mar 31, 2026 | 1.34 Bn |
| Dec 31, 2025 | 1.46 Bn |
| Sep 30, 2025 | 1.34 Bn |
| Jun 30, 2025 | 1.36 Bn |
| Mar 31, 2025 | 1.19 Bn |
| Dec 31, 2024 | 1.30 Bn |
| Sep 30, 2024 | 1.25 Bn |
| Jun 30, 2024 | 1.30 Bn |
| Mar 31, 2024 | 1.18 Bn |
| Dec 31, 2023 | 1.26 Bn |
| Sep 30, 2023 | 1.22 Bn |
| Jun 30, 2023 | 1.27 Bn |
| Mar 31, 2023 | 1.17 Bn |
| Dec 31, 2022 | 1.23 Bn |
| Sep 30, 2022 | 1.20 Bn |
| Jun 30, 2022 | 1.20 Bn |
| Mar 31, 2022 | 1.02 Bn |
| Dec 31, 2021 | 1.11 Bn |
| Sep 30, 2021 | 1.04 Bn |
API Access
Keurig Dr Pepper Operating Expenses API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=operating-expenses&ticker=KDP&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "operating-expenses", "ticker": "KDP", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=operating-expenses&ticker=KDP&period=max&api_key=YOUR_API_KEY");
const data = await res.json();