Keurig Dr Pepper Inc. (KDP)财务
NASDAQ · Consumer Defensive · Beverages - Non-Alcoholic · 员工30,600人 · CEO Timothy Cofer
- 股价
- $37.43 +1.8%
- 市值
- $512亿
- 企业价值
- $787亿 数据截至 2026-11-11
- 最近财报
- Q3 '26 2026-11-09提交
- 下次财报
- 2027-02-23 EPS预期 $0.67
营收(TTM)$231亿+43.0% 对比去年同期最近4个季度;柱状图=各季度
营业利润率(TTM)16.1%-5.4 百分点 对比去年同期营业利润 $37.2亿
净利润(TTM)$16.5亿+4.1% 对比去年同期税后,含营业外收益
自由现金流(TTM)$23.3亿+44.4% 对比去年同期资本支出 $6.03亿
稀释EPS(TTM)$1.09-5.7% 对比去年同期最近4个季度之和
净现金-$276亿-61.9% 对比去年同期现金 + 短期投资 - 债务
估值与关键数据
- 市值
- $512亿 1h 前更新
- 营收
- $231亿 过去12个月
- 营收增速
- +58% FY2026年一致预期
- 净利润率
- 7.1% 净利润 / 营收,TTM
- P/E
- 34.0× 预期 16.3×(FY2026)
- P/S
- 2.2× 股价 / 营收,TTM
- EV / EBITDA
- 16.3× TTM
- 自由现金流
- $23.3亿 过去12个月
- 净利润
- $16.5亿 过去12个月
- 营收预期
- $263亿 FY2026年一致预期
- 盈利
- 2027-02-23 营收预估 $76.3亿 · 1h 前更新
- 股息
- $0.23 每次派息 · 2026-09-28
核心要点
根据披露数据计算,每条结论都附有其依据的数字。
- 最近财报(2026-11-03):营收符合预期,EPS 超预期6.8%营收$73.4亿,预期$73.3亿(+0.2%);EPS $0.66,预期$0.62(+6.8%)。
- 营收增长加速:同比70.6%Q3 '26营收$73.4亿,此前四个季度的平均值为26.5%。
- 营业利润率16.1%(TTM),较去年同期-5.4 百分点营收增长43.0%,营业利润增长7.0%。
- 税前利润的59.5%被营业外亏损吞噬税前利润$23.3亿,营业利润$37.2亿(TTM)。股权投资亏损等一次性项目压低了净利润和EPS,营业利润更能反映业务本身。
- 资本支出占营收的2.6%(去年为3.2%)最近4个季度投入$6.03亿(同比+17.1%)。自由现金流$23.3亿,相当于净利润的141.4%。
- 股东回报$12.6亿 = 自由现金流的54.1%回购$800万(去年为$3800万),股息$12.5亿,股权激励$1.22亿(TTM)。
- 稀释股数一年内增加0.2%Q3 '26稀释股数13.7亿,一年前为13.6亿。
- 净债务 $276亿现金 + 短期投资 $12.9亿,含租赁债务 $289亿;一年前净债务 $170亿。
- KDP International:营收+11.0%,利润率24.5%(此前为26.4%)Q3 '26增长最快的披露分部:营收$6.44亿,营业利润$1.58亿(来自财报的分部附注)。
上一季度:Q3 '26
截至2026-09-30的季度。与去年同期及财报发布前的分析师一致预期对比。
本季度与去年同期
| Q3 '26 | 去年同期 | 变化 | |
|---|---|---|---|
| 营收 | $73.4亿 | $43.1亿 | +70.6% |
| 毛利率 | 48.0% | 54.3% | -6.3 百分点 |
| 营业利润 | $13.3亿 | $9.95亿 | +34.0% |
| 营业利润率 | 18.2% | 23.1% | -5.0 百分点 |
| 净利润 | $8.82亿 | $6.62亿 | +33.2% |
| 稀释EPS | $0.59 | $0.49 | +20.4% |
| 经营现金流 | $10.4亿 | $6.39亿 | +63.4% |
| 资本支出 | $1.6亿 | $1.12亿 | +42.9% |
| 自由现金流 | $8.84亿 | $5.27亿 | +67.7% |
| R&D | $0 | $0 | – |
| 股权激励费用 | $3300万 | $2500万 | +32.0% |
实际 vs 一致预期
2026-11-03| 实际 | 一致预期 | 对比预期 | |
|---|---|---|---|
| 营收 | $73.4亿 | $73.3亿 | +0.2% |
| EPS(一致预期口径) | $0.66 | $0.62 | +6.8% |
来自2026-11-03发布的Q3 '26财报：营收及分析师预期口径的EPS（通常为调整后），可能与上方报表中的EPS不同。
EPS与一致预期
最近8次财报营收
收入从何而来,按业务线和地区逐季展示。
营收、营业利润与增速
季度按业务线划分的营收
堆叠,季度| 分部 | Q2 '26 | 同比 | 占所列项目比例 | TTM | TTM同比 | 12个季度 |
|---|---|---|---|---|---|---|
| U.S. Refreshment Beverages | $29.3亿 | – | 40.0% | – | – | |
| JDE Peet's | $28亿 | – | 38.3% | – | – | |
| U.S. Coffee | $9.18亿 | – | 12.6% | – | – | |
| KDP International | $6.64亿 | – | 9.1% | – | – |
分部利润
取自每份10-Q / 10-K分部附注的各披露分部营业利润(多数数据源缺少的利润拆分)。
Q3 '26分部
| 分部 | 营收 | 同比 | 营业利润 | 同比 | 利润率 | 去年同期利润率 | TTM营业利润 |
|---|---|---|---|---|---|---|---|
| US Refreshment Beverages | $30.3亿 | +10.9% | $8.2亿 | +2.2% | 27.0% | 29.3% | – |
| JDE Peets | $26.5亿 | – | $2.89亿 | – | 10.9% | – | – |
| US Coffee | $10.2亿 | +2.7% | $3.19亿 | +34.6% | 31.3% | 23.9% | – |
| KDP International | $6.44亿 | +11.0% | $1.58亿 | +3.3% | 24.5% | 26.4% | – |
| International | – | – | – | – | – | 26.4% | – |
| Corporate (unallocated) | – | – | -$2.53亿 | -28.4% | – | – | -$12.4亿 |
各分部营业利润
季度各分部营业利润率
季度第四季度为推算值:10-K披露全年数据,减去10-Q的前三个季度。
利润率与成本结构
每一单位营收在各层级还剩多少,成本又花在哪里。
利润率
季度成本占营收比例
季度现金流与资本配置
创造了多少现金,用在何处,又有多少回到股东手中。
经营现金流、资本支出、自由现金流
季度现金用途与经营现金流
财年最近4个季度
现金流量表- 经营现金流
- $29.3亿
- 资本支出
- -$6.03亿
- 股票回购
- -$800万
- 股息
- -$12.5亿
- 收购
- -$127亿
- 债务净发行
- $73.9亿
- 股权激励费用
- $1.22亿
- 自由现金流
- $23.3亿
- 股东回报 / FCF
- 54.1%
股数与EPS
季度,稀释资产负债表
各季度末的流动性、投资和债务。
现金、投资与债务
季度末估值与回报
当前估值倍数与公司自身过去五个财年对比;分析师目标价与评级。
估值倍数与回报
TTM与过去5个财年| 当前 | 5年均值 | 当前处于5年区间的位置 | |
|---|---|---|---|
| P/E(TTM) | 34.0× | 25.9× | 18.3× – 35.3× |
| EV / EBITDA | 16.3× | 16.5× | 12.7× – 20.4× |
| EV / 营收 | 3.4× | 4.2× | 3.2× – 5.1× |
| 股价 / FCF | 22.0× | 29.8× | 20.6× – 55.0× |
| 股价 / 净资产 | 2.0× | 1.8× | 1.5× – 2.1× |
| FCF收益率 | 4.6% | 3.8% | 1.8% – 4.9% |
| 投入资本回报率 | 3.8% | 5.3% | 5.0% – 5.6% |
| 净资产收益率 | 6.5% | 7.4% | 5.7% – 8.6% |
分析师
一致目标价 $38.86 (+3.4%)
区间 $37.00 – $42.00 · 评级 Buy
强烈买入0
买入18
持有11
卖出0
强烈卖出0
展望
分析师对未来财年的一致预期,以及按当前股价意味着什么。
一致预期
| 财年 | 营收 | 增速 | EPS | 增速 | 按当前股价的P/E | 分析师(EPS) |
|---|---|---|---|---|---|---|
| FY2026 | $263亿 | +58.2% | $2.30 | +50.2% | 16.3× | 11 |
| FY2027 | $299亿 | +13.7% | $2.53 | +10.3% | 14.8× | 11 |
| FY2028 | $308亿 | +3.0% | $2.73 | +7.9% | 13.7× | 7 |
| FY2029 | $324亿 | +5.2% | $2.95 | +7.9% | 12.7× | 2 |
| FY2030 | $336亿 | +3.9% | $3.12 | +5.5% | 12.0× | 4 |
财务报表
利润表、资产负债表和现金流量表的每一项,含12个季度和10个财年,以金额、占营收比例或增速展示。
全部披露项目
Keurig Dr Pepper Inc.在近期10-Q / 10-K文件中标记的全部328项数据,附SEC官方标签和定义,包括附注(租赁、税务、回购、员工等)。
| 项目(SEC标签) | 最近季度 | 去年同期 | 同比 | 最近财年 | 上一财年 | 同比 |
|---|---|---|---|---|---|---|
| $37.252026-03-30 | – | – | – | – | – | |
| Accounts Payable, Current | $62.2亿 | $29.9亿 | +107.9% | $30亿 | $29.9亿 | +0.4% |
| Accounts Receivable, after Allowance for Credit Loss, Current | $25.2亿 | $15亿 | +68.5% | $16.7亿 | $15亿 | +11.3% |
| Accrued Income Taxes, Current | $9000万2025-09-30 | $6500万 | +38.5% | $6700万2024-12-31 | $2900万 | +131.0% |
| Accrued Insurance, Current | $7500万2025-09-30 | $6600万 | +13.6% | $5700万2024-12-31 | $5000万 | +14.0% |
| Accrued Insurance, Noncurrent | $1.06亿2025-09-30 | $9000万 | +17.8% | $9500万2024-12-31 | $8500万 | +11.8% |
| Accrued Liabilities, Current | $26.4亿 | $14亿 | +88.8% | $13.8亿 | $15.8亿 | -12.9% |
| Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment | $26亿2025-12-31 | $22.5亿 | +15.6% | $26亿 | $22.5亿 | +15.6% |
| Accumulated Other Comprehensive Income (Loss), Net of Tax | -$2.69亿 | -$2400万 | -1,020.8% | $1.02亿 | -$2.76亿 | +137.0% |
| Additional Paid in Capital, Common Stock | $198亿 | $198亿 | +0.4% | $198亿 | $197亿 | +0.3% |
| Amortization of Debt Issuance Costs | $600万 | $900万 | -33.3% | $500万2010-12-31 | $1700万 | -70.6% |
| Amortization of Intangible Assets | $1.24亿 | $3300万 | +275.8% | $1.38亿 | $1.33亿 | +3.8% |
| Amortization of Other Deferred Charges | $4300万 | $5400万 | -20.4% | $1.6亿 | $1.78亿 | -10.1% |
| Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 40万 | 130万 | -69.2% | 130万 | 80万 | +62.5% |
| APIC, Share-based Payment Arrangement, Recognition and Exercise | $3400万 | $2500万 | +36.0% | $9700万 | $9900万 | -2.0% |
| Assets | $869亿 | $546亿 | +59.1% | $555亿 | $534亿 | +3.8% |
| Assets, Current | $96.1亿 | $47亿 | +104.5% | $52.7亿 | $40亿 | +31.7% |
| Buildings and Improvements, Gross | $9.12亿2025-12-31 | $8.25亿 | +10.5% | $9.12亿 | $8.25亿 | +10.5% |
| Business Acquisition, Transaction Costs | $1.26亿 | – | – | – | – | – |
| Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Assets, Receivables | $8.86亿 | – | – | – | – | – |
| Capital Expenditures Incurred but Not yet Paid | -$1300万 | -$400万 | -225.0% | $2.04亿 | $2.2亿 | -7.3% |
| Capitalized Computer Software, Gross | $5.43亿2025-12-31 | $5.17亿 | +5.0% | $5.43亿 | $5.17亿 | +5.0% |
| Cash and Cash Equivalents, at Carrying Value | $12.9亿 | $5.16亿 | +150.0% | $10.3亿 | $5.1亿 | +101.2% |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents | $13.1亿 | $5.69亿 | +129.5% | $10.4亿 | $6.08亿 | +71.7% |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Excluding Exchange Rate Effect | -$2.83亿 | $200万 | -14,250.0% | $4.19亿 | $3.82亿 | +9.7% |
| Common Stock, Dividends, Per Share, Declared | $0.23 | $0.23 | 0.0% | $0.92 | $0.89 | +3.4% |
| Common Stock, Par or Stated Value Per Share | $0.01 | $0.01 | 0.0% | $0.01 | $0.01 | 0.0% |
| Common Stock, Shares Authorized | 20亿 | 20亿 | 0.0% | 20亿 | 20亿 | 0.0% |
| Common Stock, Shares, Issued | 13.6亿 | 13.6亿 | +0.2% | 13.6亿 | 13.6亿 | +0.1% |
| Common Stock, Shares, Outstanding | 13.6亿 | 13.6亿 | +0.2% | 13.6亿 | 13.6亿 | +0.1% |
| Common Stock, Value, Issued | $1400万 | $1400万 | 0.0% | $1400万 | $1400万 | 0.0% |
| Comprehensive Income (Loss), Net of Tax, Attributable to Noncontrolling Interest | $7300万 | $0 | – | – | – | – |
| Comprehensive Income (Loss), Net of Tax, Attributable to Parent | $7.29亿 | $6.28亿 | +16.1% | $24.6亿 | $8.5亿 | +189.1% |
| Comprehensive Income (Loss), Net of Tax, Including Portion Attributable to Noncontrolling Interest | $8.02亿 | $6.28亿 | +27.7% | $8.5亿2024-12-31 | $23.7亿 | -64.1% |
| Construction in Progress, Gross | $2.89亿2025-12-31 | $3.84亿 | -24.7% | $2.89亿 | $3.84亿 | -24.7% |
| Cost of Goods and Services Sold | $38.2亿 | $19.7亿 | +94.3% | $76亿 | $68.2亿 | +11.5% |
| Current Federal Tax Expense (Benefit) | – | – | – | $2.55亿 | $3.77亿 | -32.4% |
| Current Foreign Tax Expense (Benefit) | – | – | – | $2.4亿 | $2.42亿 | -0.8% |
| Current Income Tax Expense (Benefit) | – | – | – | $5.63亿 | $7.27亿 | -22.6% |
| Current State and Local Tax Expense (Benefit) | – | – | – | $6800万 | $1.08亿 | -37.0% |
| Debt and Equity Securities, Realized Gain (Loss) | $02025-09-30 | – | – | – | – | – |
| Debt, Current | $72.7亿 | $22.9亿 | +218.2% | $31.1亿 | $26.4亿 | +17.5% |
| Deferred Compensation Liability, Classified, Noncurrent | $3300万2025-09-30 | $3300万 | 0.0% | $3300万2024-12-31 | $3200万 | +3.1% |
| Deferred Federal Income Tax Expense (Benefit) | – | – | – | $1000万 | -$1.99亿 | +105.0% |
| Deferred Foreign Income Tax Expense (Benefit) | – | – | – | $2200万 | $0 | – |
| Deferred Income Tax Assets, Net | $2.14亿 | $3600万 | +494.4% | $3600万 | $3900万 | -7.7% |
| Deferred Income Tax Expense (Benefit) | – | – | – | $4500万 | -$2.54亿 | +117.7% |
| Deferred Income Tax Liabilities, Net | $88亿 | $54.3亿 | +61.9% | $55.3亿 | $54.4亿 | +1.7% |
| Deferred Income Taxes and Tax Credits | -$1.55亿 | -$4300万 | -260.5% | $4500万 | -$2.54亿 | +117.7% |
| Deferred State and Local Income Tax Expense (Benefit) | – | – | – | $1300万 | -$5500万 | +123.6% |
| Deferred Tax Assets, Gross | $5.98亿2025-12-31 | $6.8亿 | -12.1% | $5.98亿 | $6.8亿 | -12.1% |
| Deferred Tax Assets, Net of Valuation Allowance | $5.74亿2025-12-31 | $6.55亿 | -12.4% | $5.74亿 | $6.55亿 | -12.4% |
| Deferred Tax Assets, Operating Loss Carryforwards | $2400万2025-12-31 | $3000万 | -20.0% | $2400万 | $3000万 | -20.0% |
| Deferred Tax Assets, Other | $8400万2025-12-31 | $1.07亿 | -21.5% | $8400万 | $1.07亿 | -21.5% |
| Deferred Tax Assets, Tax Credit Carryforwards | $500万2025-12-31 | $1000万 | -50.0% | $500万 | $1000万 | -50.0% |
| Deferred Tax Assets, Tax Deferred Expense, Reserves and Accruals, Accrued Liabilities | $1.52亿2025-12-31 | $1.54亿 | -1.3% | $1.52亿 | $1.54亿 | -1.3% |
| Deferred Tax Assets, Valuation Allowance | $2400万2025-12-31 | $2500万 | -4.0% | $2400万 | $2500万 | -4.0% |
| Deferred Tax Liabilities, Gross | $60.6亿2025-12-31 | $60.5亿 | +0.2% | $60.6亿 | $60.5亿 | +0.2% |
| Deferred Tax Liabilities, Intangible Assets | $55.4亿2025-12-31 | $54.9亿 | +1.0% | $55.4亿 | $54.9亿 | +1.0% |
| Deferred Tax Liabilities, Leasing Arrangements | $2.34亿2025-12-31 | $2.24亿 | +4.5% | $2.34亿 | $2.24亿 | +4.5% |
来源:SEC companyfacts(每份10-Q / 10-K的XBRL)。现金流量表的季度数据由10-Q标记的年初至今累计数推算。分部拆分带有维度标记,在分部章节中单独展示。
数据来源
报表、分部营收、指标和预期均根据公司文件标准化。分部利润及全部披露项目:SEC EDGAR(XBRL)。 已读取的文件: 10-Q 2026-09-30, 10-Q 2026-06-30, 10-Q 2026-03-31, 10-K 2025-12-31, 10-Q 2025-09-30, 10-Q 2025-06-30, 10-Q 2025-03-31, 10-K 2024-12-31, 10-Q 2024-09-30
数据截至 2026-11-11