Keurig Dr Pepper (KDP) Operating Margin (2009 - 2026)
Keurig Dr Pepper (KDP) posted quarterly Operating Margin of 19.01% for Q1 2026, down 302.0% year-over-year from 9.41% in Q1 2025, and down 2.9% quarter-over-quarter from 19.58% in Q4 2025.
Keurig Dr Pepper (KDP) Operating Margin (2009 - 2026) Analysis & Trends
Keurig Dr Pepper (KDP) has reported Operating Margin for 18 consecutive years, with 19.01% the latest figure, recorded in Q1 2026.
- In Q1 2026, Operating Margin fell 302.0% year-over-year to 19.01%; the TTM figure through Mar 2026 stood at 20.83% (up 390.0% YoY), while the FY2025 annual figure was 21.53%, up 465.0% from the prior year.
- Operating Margin declined to 19.01% in Q1 2026 per KDP's latest filing, from 19.58% in the prior quarter.
- Across five years, Operating Margin topped out at 31.38% in Q1 2022 and bottomed at 1.55% in Q4 2024.
- Historically, Operating Margin has averaged 19.75% across 5 years, with a median of 21.57% in 2025.
- Annual changes were most pronounced in 2024 — Operating Margin slumped 2284 bps — and 2025, when it surged 1803 bps.
- Keurig Dr Pepper's Operating Margin stood at 17.7% in 2022, then surged by 38 bps to 24.39% in 2023, then tumbled by 94 bps to 1.55% in 2024, then soared by 1165 bps to 19.58% in 2025, then slipped by 3 bps to 19.01% in 2026.
- Business Quant data shows KDP's Operating Margin at 19.01% in Q1 2026, 19.58% in Q4 2025, and 23.11% in Q3 2025.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Operating Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Coca Cola Femsa Sab De Cv | 1,821.21 Bn | 1,821.21 Bn | 2.06 Bn | 13.21% |
| 2 | Coca Cola | 373.41 Bn | 359.26 Bn | 8.42 Bn | 34.92% |
| 3 | Pepsico | 187.99 Bn | 177.27 Bn | 13.11 Bn | 16.64% |
| 4 | Coca-Cola Europacific Partners | 48.25 Bn | 47.09 Bn | - | - |
| 5 | Monster Beverage | 44.77 Bn | 41.35 Bn | 1.42 Bn | 29.18% |
| 6 | Keurig Dr Pepper | 39.51 Bn | 38.61 Bn | 2.10 Bn | 19.01% |
| 7 | Andina Bottling | 21.78 Bn | 21.78 Bn | 319.18 Bn | 66.47% |
| 8 | Coca-Cola Consolidated | 10.26 Bn | 10.09 Bn | 778.41 Mn | 13.22% |
| 9 | Primo Brands | 8.50 Bn | 8.13 Bn | 548.70 Mn | 10.04% |
| 10 | Celsius Holdings | 6.85 Bn | 6.22 Bn | 393.69 Mn | 9.20% |
Historic Data
Download Data| Date | Value |
|---|---|
| Mar 31, 2026 | 19.01% |
| Dec 31, 2025 | 19.58% |
| Sep 30, 2025 | 23.11% |
| Jun 30, 2025 | 21.57% |
| Mar 31, 2025 | 22.04% |
| Dec 31, 2024 | 1.55% |
| Sep 30, 2024 | 23.18% |
| Jun 30, 2024 | 21.95% |
| Mar 31, 2024 | 22.06% |
| Dec 31, 2023 | 24.39% |
| Sep 30, 2023 | 23.55% |
| Jun 30, 2023 | 20.30% |
| Mar 31, 2023 | 17.42% |
| Dec 31, 2022 | 17.70% |
| Sep 30, 2022 | 10.88% |
| Jun 30, 2022 | 16.09% |
| Mar 31, 2022 | 31.38% |
| Dec 31, 2021 | 21.38% |
| Sep 30, 2021 | 24.46% |
| Jun 30, 2021 | 23.38% |