TTM
21.3%
YoY change
+0.45pp
Trough year (2008)
-2.9%
Peak year (2005)
28.3%
Latest annual
22.0%
Operating Margin history chart for Keurig Dr Pepper (KDP) from 2004 to 2025
Latest: 22.0%
Operating Margin change chart for Keurig Dr Pepper (KDP) from 2004 to 2025
Latest: +0.45pp
Operating Margin history table for Keurig Dr Pepper (KDP) from 2004 to 2025
| 2025 | 22.0% | +0.45pp | ||
| 2024 | 21.6% | -0.01pp | ||
| 2023 | 21.6% | +1.76pp | ||
| 2022 | 19.8% | -3.02pp | ||
| 2021 | 22.8% | +1.47pp | ||
| 2020 | 21.3% | -0.04pp | ||
| 2019 | 21.4% | +4.76pp | ||
| 2018 | 16.6% | -4.13pp | ||
| 2017 | 20.7% | -1.50pp | ||
| 2016 | 22.3% | +1.59pp | ||
| 2015 | 20.7% | +1.38pp | ||
| 2014 | 19.3% | +1.84pp | ||
| 2013 | 17.4% | -0.77pp | ||
| 2012 | 18.2% | +0.87pp | ||
| 2011 | 17.3% | -0.84pp | ||
| 2010 | 18.2% | -1.43pp | ||
| 2009 | 19.6% | +22.56pp | ||
| 2008 | -2.9% | -20.41pp | ||
| 2007 | 17.5% | -4.03pp | ||
| 2006 | 21.5% | -6.77pp | ||
| 2005 | 28.3% | +1.06pp | ||
| 2004 | 27.2% | — |
- 202522.0%+0.45pp
- 202421.6%-0.01pp
- 202321.6%+1.76pp
- 202219.8%-3.02pp
- 202122.8%+1.47pp
- 202021.3%-0.04pp
- 201921.4%+4.76pp
- 201816.6%-4.13pp
- 201720.7%-1.50pp
- 201622.3%+1.59pp
- 201520.7%+1.38pp
- 201419.3%+1.84pp
- 201317.4%-0.77pp
- 201218.2%+0.87pp
- 201117.3%-0.84pp
- 201018.2%-1.43pp
- 200919.6%+22.56pp
- 2008-2.9%-20.41pp
- 200717.5%-4.03pp
- 200621.5%-6.77pp
- 200528.3%+1.06pp
- 200427.2%—
Operating Margin values are taken from Keurig Dr Pepper's reported income statements (quarterly 10-Q and annual 10-K filings with the U.S. Securities and Exchange Commission). Each row shows the period end date and the filing date. YoY compares each figure to the same period one year earlier. Amounts are in USD as filed.
About Operating Margin at Keurig Dr Pepper (KDP)
According to Keurig Dr Pepper's latest reported financial statements, the company's latest reported operating margin is 21.3%. Operating margin is operating income divided by revenue — the share of each sales dollar left after cost of goods sold and operating expenses (SG&A, R&D), but before interest and taxes. It isolates how profitable the core business is before financing and tax decisions, so it is comparable across companies with different capital structures.
Headline figure above is from the reporting period ending (reported ). Chart and table below cover the full reported history back to .
2025's annual operating margin for Keurig Dr Pepper (KDP) came in at 22.00% – expanded 0.4 percentage points year-over-year.
The record annual operating margin stands at 28.27%, reached in 2005; the historical low of -2.94% was recorded in 2008.
Keurig Dr Pepper Operating Margin by Year
Keurig Dr Pepper Operating Margin 2025: 22.0%
Keurig Dr Pepper operating margin in 2025 was 22.00%, expanded 0.4 percentage points from 2024.
Keurig Dr Pepper Operating Margin 2024: 21.6%
2024's operating margin for Keurig Dr Pepper came in at 21.56%, contracted 0.0 percentage points from 2023.
Keurig Dr Pepper Operating Margin 2023: 21.6%
Keurig Dr Pepper posted operating margin of 21.56% in 2023, expanded 1.8 percentage points from 2022.
Keurig Dr Pepper Operating Margin 2022: 19.8%
In 2022, Keurig Dr Pepper reported operating margin of 19.80%, contracted 3.0 percentage points from 2021.
Keurig Dr Pepper Operating Margin 2021: 22.8%
Keurig Dr Pepper operating margin in 2021 was 22.82%.
See more financial history for Keurig Dr Pepper (KDP).
Sector peers by Operating Margin
Consumer Defensive peers of Keurig Dr Pepper (KDP), ranked by their latest operating margin
| 50.7% | |
| 36.8% | |
| 29.3% | |
| 29.3% | |
| 23.2% | |
| 14.8% | |
| 4.2% | |
| 3.8% |
- 50.7%
- 29.3%
- 14.8%
- 4.2%
- 3.8%
Frequently asked questions
Keurig Dr Pepper (KDP) Key Financials
Charts, filings, and peer comparison for every metric
Explore more
Deep-dives across the income statement, cash flow, capital return, and valuation