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Keurig Dr Pepper vs Primo Brands: KDP and PRMB compared
Keurig Dr Pepper is the larger company: $7.3B of revenue in its latest quarter (Q3 2026) against $1.8B for Primo Brands (Q3 2026). Keurig Dr Pepper is growing faster (+71% against +3% a year earlier). Keurig Dr Pepper is more profitable, with an operating margin of 18.2% against 13.7%.
Where the money goes: KDP and PRMB
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.
Primo Brands (PRMB) · Q3 2026
Primo Brands, Q3 2026: revenue $1.8B (+3% year over year), operating margin 13.7%, net earnings $124M, operating cash flow $294M. The chart follows the revenue to costs, profit and cash.
| Keurig Dr Pepper (KDP) | Primo Brands (PRMB) | |
|---|---|---|
| Latest quarter | Q3 2026 | Q3 2026 |
| Revenue | $7.3B | $1.8B |
| Revenue growth, Y/Y | +71% | +3% |
| Gross margin | 48.0% | 30.4% |
| Operating margin | 18.2% | 13.7% |
| Net earnings | $882M | $124M |
| Net margin | 12.0% | 6.8% |
| Operating cash flow | $1.0B | $294M |
| Free cash flow | $884M | $215M |
| Market value | $50.3B | $8.0B |
| P/E | 33.7× | 40.8× |
| Analysts’ mean target | $38.08 | $28.36 |
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%)
Primo Brands
- Regional spring water: $912M (50%)
- Purified water: $574M (31%)
- Other: $182M (10%)
- Premium water: $122M (7%)
Questions
Which is bigger, Keurig Dr Pepper or Primo Brands?
Keurig Dr Pepper is the larger company: $7.3B of revenue in its latest quarter (Q3 2026) against $1.8B for Primo Brands (Q3 2026).
Is Keurig Dr Pepper or Primo Brands growing faster?
Keurig Dr Pepper is growing faster (+71% against +3% a year earlier).
Which is more profitable, Keurig Dr Pepper or Primo Brands?
Keurig Dr Pepper is more profitable, with an operating margin of 18.2% against 13.7%.
More: Keurig Dr Pepper earnings · how Keurig Dr Pepper makes money · Primo Brands earnings · how Primo Brands makes money
From the companies' latest 10-Q, 10-K or earnings release (8-K filed Nov 3, 2026; 10-Q filed Nov 5, 2026). Fiscal quarters can end on different dates. Not investment advice.