Keurig Dr Pepper Inc（KDP）の決算・業績分析
Keurig Dr Pepper Incの2025年有価証券報告書をAI分析。売上高$16.6B(+8.2%)。営業利益$3.6B。Consumer Staples。
目次
Keurig Dr Pepper Incの2025年度 業績サマリー
Keurig Dr Pepper Inc（証券コード: KDP）の2025年度決算・業績分析。売上高は$16.6B（前年比+8.2%）。営業利益は$3.6B（前年比+38.0%）。純利益は$2.1B（前年比+44.3%）。有価証券報告書を基に、業績変化の要因・リスク・見通し・セグメント構成を AI が分析しました。
Keurig Dr Pepper Incの2024年度 注目ポイント
※ 直近の2025年度XBRLデータは取込済みですが、AI分析は2024年度の10-Kを対象としています。
- Revenue grew 10.8% YoY to $14.1B (XBRL), but net income fell 33.1% YoY to $1.4B (XBRL) due to declining operating income (-10.0% YoY).
- Net debt surged to $9.7B (3.2x EBITDA) (XBRL), despite $2.5B free cash flow (FCF) (XBRL) and $1.5B shareholder returns (dividends + buybacks) (XBRL).
- Current ratio of 0.38x (XBRL) and ROE of 5.8% (XBRL) highlight liquidity and profitability challenges amid rising long-term debt ($9.9B) (XBRL).
Keurig Dr Pepper Incの売上高変化の要因
- •FY2024 revenue of $14.1B (XBRL) reflects a 10.8% YoY increase, driven by the 5-year CAGR of 14.8% (XBRL). However, operating income declined 10.0% YoY to $2.6B (XBRL), despite a 14.8% revenue CAGR over five years. Historical data shows operating income peaked at $2.9B in FY2023 (XBRL) before declining in FY2024.
Keurig Dr Pepper Incの営業利益変化の要因
- •Gross margin remained stable at 52.1% (XBRL), but operating margin fell to 18.5% (XBRL) from prior years. Net margin dropped 33.1% YoY to 10.2% (XBRL), reflecting the 10.0% decline in operating income. EBITDA of $3.0B (21.4% of revenue) (XBRL) highlights efficiency, though net income fell sharply due to rising costs and margin compression.
Keurig Dr Pepper Incの事業リスクと対応
Supply chain disruptions from limited suppliers, geopolitical instability, and weather impacts (10-K).
Commodity price volatility (coffee, packaging, energy) affecting costs and margins (10-K).
Intense competition from multinational and regional companies (10-K).
Regulatory/geopolitical risks like tariffs, trade barriers, and import/export restrictions (10-K).
Inability to hedge against input cost increases, risking reduced revenue and margins (10-K).
Keurig Dr Pepper Incの事業内容
Keurig Dr Pepper Inc. (KDP) operates as a leading global beverage company, specializing in single-serve coffee, ready-to-drink beverages, and fountain drinks. Key brands include Keurig, Dr Pepper, 7UP, and Snapple. The company faces intense competition from multinational corporations, regional players, and private-label manufacturers, while relying on proprietary K-Cup pod systems and Keurig brewers. Shifting consumer preferences and supply chain vulnerabilities remain critical challenges.
Keurig Dr Pepper IncのAI業績分析レポート（2024年度）
Keurig Dr Pepper Inc. (KDP) FY2024 Annual Report Analysis
Highlights
Business Overview
Keurig Dr Pepper Inc. (KDP) operates as a leading global beverage company, specializing in single-serve coffee, ready-to-drink beverages, and fountain drinks. Key brands include Keurig, Dr Pepper, 7UP, and Snapple. The company faces intense competition from multinational corporations, regional players, and private-label manufacturers, while relying on proprietary K-Cup pod systems and Keurig brewers. Shifting consumer preferences and supply chain vulnerabilities remain critical challenges.
Revenue Analysis
FY2024 revenue of $14.1B (XBRL) reflects a 10.8% YoY increase, driven by the 5-year CAGR of 14.8% (XBRL). However, operating income declined 10.0% YoY to $2.6B (XBRL), despite a 14.8% revenue CAGR over five years. Historical data shows operating income peaked at $2.9B in FY2023 (XBRL) before declining in FY2024.
Profitability Analysis
Gross margin remained stable at 52.1% (XBRL), but operating margin fell to 18.5% (XBRL) from prior years. Net margin dropped 33.1% YoY to 10.2% (XBRL), reflecting the 10.0% decline in operating income. EBITDA of $3.0B (21.4% of revenue) (XBRL) highlights efficiency, though net income fell sharply due to rising costs and margin compression.
Balance Sheet Analysis
Equity ratio of 47.9% (XBRL) and debt-to-equity (D/E) ratio of 1.06x (XBRL) indicate moderate leverage. However, net debt of $9.7B (3.2x EBITDA) (XBRL) and a current ratio of 0.38x (XBRL) signal liquidity risks. Total assets grew to $52.1B (XBRL), but cash reserves remain low at $267M (XBRL).
Cash Flow Analysis
Operating cash flow of $2.8B (XBRL) supported $2.5B FCF (XBRL) after $353M CapEx (XBRL). Shareholder returns totaled $1.5B (XBRL), including $1.1B in dividends (XBRL) and $379M in share repurchases (XBRL). Despite strong FCF, net debt remains elevated at $9.7B (XBRL).
Working Capital Analysis
Cash conversion cycle (CCC) of -98 days (XBRL) reflects efficient working capital management: 36 days receivables, 62 days inventory, and 195 days payables. This negative CCC indicates strong liquidity from rapid collections and extended payables.
Risks
Outlook
N/A (No forward-looking guidance or trends specified in the 10-K or XBRL data).
Historical Time Series
| Metric | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|
| Revenue | 7.4B | 11.1B | 11.6B | 12.7B | 14.1B | 14.8B |
| Operating Income | 1.2B | 2.4B | 2.5B | 2.9B | 2.6B | 3.2B |
| Net Income | 586M | 1.3B | 1.3B | 2.1B | 1.4B | 2.2B |
| Total Assets | 49.5B | 49.8B | 50.6B | 51.8B | 52.1B | 53.4B |
| Total Equity | 7.4B | 22.5B | 23.3B | 23.8B | 25.0B | 25.1B |
| Operating Cash Flow | 1.6B | 2.5B | 2.5B | 2.9B | 2.8B | 1.3B |
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