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PepsiCo vs Keurig Dr Pepper: PEP and KDP compared
PepsiCo is the larger company: $25.3B of revenue in its latest quarter (Q3 2026) against $7.3B for Keurig Dr Pepper (Q3 2026). Keurig Dr Pepper is growing faster (+71% against +6% a year earlier). Keurig Dr Pepper is more profitable, with an operating margin of 18.2% against 16.9%.
Where the money goes: PEP and KDP
PepsiCo (PEP) · Q3 2026
PepsiCo, Q3 2026: revenue $25.3B (+6% year over year), operating margin 16.9%, net earnings $3.1B, operating cash flow $5.6B. 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.
| PepsiCo (PEP) | Keurig Dr Pepper (KDP) | |
|---|---|---|
| Latest quarter | Q3 2026 | Q3 2026 |
| Revenue | $25.3B | $7.3B |
| Revenue growth, Y/Y | +6% | +71% |
| Gross margin | 54.4% | 48.0% |
| Operating margin | 16.9% | 18.2% |
| Net earnings | $3.1B | $882M |
| Net margin | 12.1% | 12.0% |
| Operating cash flow | $5.6B | $1.0B |
| Free cash flow | $4.7B | $884M |
| Market value | $195.8B | $50.3B |
| P/E | 17.9× | 33.7× |
| Analysts’ mean target | $141.59 | $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, PepsiCo or Keurig Dr Pepper?
PepsiCo is the larger company: $25.3B of revenue in its latest quarter (Q3 2026) against $7.3B for Keurig Dr Pepper (Q3 2026).
Is PepsiCo or Keurig Dr Pepper growing faster?
Keurig Dr Pepper is growing faster (+71% against +6% a year earlier).
Which is more profitable, PepsiCo or Keurig Dr Pepper?
Keurig Dr Pepper is more profitable, with an operating margin of 18.2% against 16.9%.
More: PepsiCo earnings · how PepsiCo makes money · Keurig Dr Pepper earnings · how Keurig Dr Pepper makes money
From the companies' latest 10-Q, 10-K or earnings release (10-Q filed Oct 8, 2026; 8-K filed Nov 3, 2026). Fiscal quarters can end on different dates. Not investment advice.