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Keurig Dr Pepper vs Constellation Brands: KDP and STZ compared
Keurig Dr Pepper is the larger company: $7.3B of revenue in its latest quarter (Q3 2026) against $2.8B for Constellation Brands (Q2 FY27). Keurig Dr Pepper is growing faster (+71% against +6% a year earlier). Constellation Brands is more profitable, with an operating margin of 28.6% against 18.2%.
Where the money goes: KDP and STZ
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.
Constellation Brands (STZ) · Q2 FY27
Constellation Brands, Q2 FY27: revenue $2.8B (+6% year over year), operating margin 28.6%, net earnings $566M, operating cash flow $817M. The chart follows the revenue to costs, profit and cash.
| Keurig Dr Pepper (KDP) | Constellation Brands (STZ) | |
|---|---|---|
| Latest quarter | Q3 2026 | Q2 FY27 |
| Revenue | $7.3B | $2.8B |
| Revenue growth, Y/Y | +71% | +6% |
| Gross margin | 48.0% | 49.5% |
| Operating margin | 18.2% | 28.6% |
| Net earnings | $882M | $566M |
| Net margin | 12.0% | 20.1% |
| Operating cash flow | $1.0B | $817M |
| Free cash flow | $884M | $640M |
| Market value | $50.3B | $24.0B |
| P/E | 33.7× | 12.5× |
| Analysts’ mean target | $38.08 | $152.91 |
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, Keurig Dr Pepper or Constellation Brands?
Keurig Dr Pepper is the larger company: $7.3B of revenue in its latest quarter (Q3 2026) against $2.8B for Constellation Brands (Q2 FY27).
Is Keurig Dr Pepper or Constellation Brands growing faster?
Keurig Dr Pepper is growing faster (+71% against +6% a year earlier).
Which is more profitable, Keurig Dr Pepper or Constellation Brands?
Constellation Brands is more profitable, with an operating margin of 28.6% against 18.2%.
More: Keurig Dr Pepper earnings · how Keurig Dr Pepper makes money · Constellation Brands earnings · how Constellation Brands makes money
From the companies' latest 10-Q, 10-K or earnings release (8-K filed Nov 3, 2026; 10-Q filed Oct 7, 2026). Fiscal quarters can end on different dates. Not investment advice.