Operating Profit Margin
since 2008
Calculation
Keurig Dr Pepper Inc., operating profit margin, long-term trends, calculation
| Operating profit margin | = | 100 | × | Income (loss) from operations1 | ÷ | Net sales1 | |
|---|---|---|---|---|---|---|---|
| Dec 31, 2021 | 22.82% | = | 100 | × | 2,894) | ÷ | 12,683) |
| Dec 31, 2020 | 21.35% | = | 100 | × | 2,480) | ÷ | 11,618) |
| Dec 31, 2019 | 21.38% | = | 100 | × | 2,378) | ÷ | 11,120) |
| Dec 31, 2018 | 16.62% | = | 100 | × | 1,237) | ÷ | 7,442) |
| Dec 31, 2017 | 20.75% | = | 100 | × | 1,388) | ÷ | 6,690) |
| Dec 31, 2016 | 22.25% | = | 100 | × | 1,433) | ÷ | 6,440) |
| Dec 31, 2015 | 20.66% | = | 100 | × | 1,298) | ÷ | 6,282) |
| Dec 31, 2014 | 19.28% | = | 100 | × | 1,180) | ÷ | 6,121) |
| Dec 31, 2013 | 17.44% | = | 100 | × | 1,046) | ÷ | 5,997) |
| Dec 31, 2012 | 18.22% | = | 100 | × | 1,092) | ÷ | 5,995) |
| Dec 31, 2011 | 17.35% | = | 100 | × | 1,024) | ÷ | 5,903) |
| Dec 31, 2010 | 18.19% | = | 100 | × | 1,025) | ÷ | 5,636) |
| Dec 31, 2009 | 19.62% | = | 100 | × | 1,085) | ÷ | 5,531) |
| Dec 31, 2008 | -2.94% | = | 100 | × | (168) | ÷ | 5,710) |
Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31).
1 US$ in millions
The operational performance demonstrates a significant transformation from a negative margin in 2008 to a sustained period of profitability through 2021. After an initial operational loss, the company achieved a rapid recovery, maintaining an operating profit margin generally between 16% and 23% for the remainder of the period.
- Initial Recovery and Stabilization (2008–2013)
- A sharp reversal is observed between 2008 and 2009, as the operating profit margin shifted from -2.94% to 19.62%. This recovery was followed by a period of relative stability, with margins fluctuating within a narrow range between 17.35% and 19.62% through 2013, while net sales remained steady around the 6 billion mark.
- Margin Expansion and Periodic Contraction (2014–2018)
- A trend of gradual margin expansion occurred from 2014 to 2016, with the operating profit margin reaching 22.25%. However, a notable contraction occurred in 2018, where the margin declined to 16.62%, the lowest level since 2011. This decline occurred despite a steady increase in net sales, suggesting a temporary rise in operating expenses relative to revenue growth during that fiscal year.
- Revenue Acceleration and Margin Optimization (2019–2021)
- A substantial escalation in net sales began in 2019, with revenues jumping from 7.44 billion in 2018 to 11.12 billion in 2019, eventually reaching 12.68 billion by 2021. This scaling of operations was accompanied by a recovery in profitability, with the operating profit margin returning to 21.38% in 2019 and climbing to a period peak of 22.82% by the end of 2021.
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Comparison to Competitors
Keurig Dr Pepper Inc., operating profit margin, long-term trends, comparison to competitors
| Keurig Dr Pepper Inc. | Coca-Cola Co. | Mondelēz International Inc. | PepsiCo Inc. | Philip Morris International Inc. | |
|---|---|---|---|---|---|
| Dec 31, 2021 | 22.82% | 26.67% | 16.20% | 14.04% | 41.32% |
| Dec 31, 2020 | 21.35% | 27.25% | 14.50% | 14.32% | 40.66% |
| Dec 31, 2019 | 21.38% | 27.06% | 14.86% | 15.32% | 35.33% |
| Dec 31, 2018 | 16.62% | 27.31% | 12.77% | 15.64% | 38.40% |
| Dec 31, 2017 | 20.75% | 21.18% | 13.54% | 16.54% | 40.01% |
| Dec 31, 2016 | 22.25% | 20.61% | 9.91% | 15.58% | 40.53% |
| Dec 31, 2015 | 20.66% | 19.70% | 30.02% | 13.25% | 39.65% |
| Dec 31, 2014 | 19.28% | 21.11% | 9.47% | 14.37% | 39.31% |
| Dec 31, 2013 | 17.44% | 21.83% | 11.25% | 14.61% | 43.29% |
| Dec 31, 2012 | 18.22% | 22.45% | 10.39% | 13.91% | 44.18% |
| Dec 31, 2011 | 17.35% | 21.82% | 12.25% | 14.48% | 42.90% |
| Dec 31, 2010 | 18.19% | 24.06% | 11.51% | 14.41% | 41.16% |
| Dec 31, 2009 | 19.62% | 26.56% | 13.68% | 18.61% | 40.10% |
| Dec 31, 2008 | -2.94% | 26.44% | 9.04% | 16.03% | 39.87% |
Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31).