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Diageo vs Keurig Dr Pepper: DEO and KDP compared
Diageo is the larger company: $12.8B of revenue in its latest quarter (H2 FY25) against $7.3B for Keurig Dr Pepper (Q3 2026). Keurig Dr Pepper is more profitable, with an operating margin of 18.2% against 9.2%.
Where the money goes: DEO and KDP
Diageo (DEO) · H2 FY25
Diageo, H2 FY25: revenue $12.8B, operating margin 9.2%, net earnings $419M, operating cash flow $1.1B. The chart follows the revenue to costs, profit and cash.
Keurig Dr Pepper (KDP) · Q3 2026
Keurig Dr Pepper, Q3 2026: revenue $7.3B (+71% year over year), operating margin 18.2%, net earnings $882M, operating cash flow $1.0B. The chart follows the revenue to costs, profit and cash.
| Diageo (DEO) | Keurig Dr Pepper (KDP) | |
|---|---|---|
| Latest quarter | H2 FY25 | Q3 2026 |
| Revenue | $12.8B | $7.3B |
| Revenue growth, Y/Y | — | +71% |
| Gross margin | 42.5% | 48.0% |
| Operating margin | 9.2% | 18.2% |
| Net earnings | $419M | $882M |
| Net margin | 3.3% | 12.0% |
| Operating cash flow | $1.1B | $1.0B |
| Free cash flow | — | $884M |
| Market value | — | $50.3B |
| P/E | — | 33.7× |
| Analysts’ mean target | — | $38.08 |
Where the revenue comes from
Keurig Dr Pepper
- U.S. Refreshment Beverages: $3.0B (41%)
- JDE Peet's: $2.6B (36%)
- U.S. Coffee: $1.0B (14%)
- KDP International: $644M (9%)
Questions
Which is bigger, Diageo or Keurig Dr Pepper?
Diageo is the larger company: $12.8B of revenue in its latest quarter (H2 FY25) against $7.3B for Keurig Dr Pepper (Q3 2026).
Is Diageo or Keurig Dr Pepper growing faster?
Keurig Dr Pepper is more profitable, with an operating margin of 18.2% against 9.2%.
More: Diageo earnings · how Diageo makes money · Keurig Dr Pepper earnings · how Keurig Dr Pepper makes money
From the companies' latest 10-Q, 10-K or earnings release (20-F filed Aug 14, 2025; 8-K filed Nov 3, 2026). Fiscal quarters can end on different dates. Not investment advice.