Price to Earnings (P/E)
since 2008
Calculation
Keurig Dr Pepper Inc., P/E, long-term trends, calculation
| P/E | = | Share price1, 2, 3 | ÷ | Earnings per share1 (EPS) | EPS1 | = | Net income (loss) attributable to KDP1 (in millions) |
÷ | No. shares of common stock outstanding2 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Feb 24, 2022 | 24.22 | = | 36.65 | ÷ | 1.51 | 1.51 | = | 2,146 | ÷ | 1,418,158,363 | |
| Feb 25, 2021 | 32.78 | = | 30.86 | ÷ | 0.94 | 0.94 | = | 1,325 | ÷ | 1,407,267,272 | |
| Feb 27, 2020 | 31.69 | = | 28.24 | ÷ | 0.89 | 0.89 | = | 1,254 | ÷ | 1,406,986,313 | |
| Feb 28, 2019 | 60.35 | = | 25.15 | ÷ | 0.42 | 0.42 | = | 586 | ÷ | 1,406,081,521 | |
| Feb 14, 2018 | 19.20 | = | 114.91 | ÷ | 5.99 | 5.99 | = | 1,076 | ÷ | 179,744,078 | |
| Feb 14, 2017 | 20.12 | = | 93.07 | ÷ | 4.63 | 4.63 | = | 847 | ÷ | 183,094,247 | |
| Feb 23, 2016 | 22.58 | = | 92.09 | ÷ | 4.08 | 4.08 | = | 764 | ÷ | 187,349,988 | |
| Feb 19, 2015 | 21.47 | = | 78.22 | ÷ | 3.64 | 3.64 | = | 703 | ÷ | 192,962,748 | |
| Feb 20, 2014 | 16.27 | = | 51.47 | ÷ | 3.16 | 3.16 | = | 624 | ÷ | 197,274,122 | |
| Feb 21, 2013 | 13.78 | = | 42.57 | ÷ | 3.09 | 3.09 | = | 629 | ÷ | 203,632,429 | |
| Feb 22, 2012 | 13.61 | = | 38.88 | ÷ | 2.86 | 2.86 | = | 606 | ÷ | 212,073,549 | |
| Feb 22, 2011 | 15.19 | = | 35.80 | ÷ | 2.36 | 2.36 | = | 528 | ÷ | 223,974,770 | |
| Mar 1, 2010 | 14.28 | = | 31.18 | ÷ | 2.18 | 2.18 | = | 555 | ÷ | 254,115,758 | |
| Mar 26, 2009 | — | = | 17.87 | ÷ | -1.23 | -1.23 | = | -312 | ÷ | 253,827,507 |
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$
2 Data adjusted for splits and stock dividends.
3 Closing price as at the filing date of Keurig Dr Pepper Inc. Annual Report.
The financial trajectory between 2009 and 2022 reveals a distinct bifurcation in performance and valuation metrics, separated by a significant structural shift occurring in 2019.
- Earnings per Share (EPS) Trends
- Following a period of negative earnings in 2009, a consistent growth phase was observed from 2010 through 2018, with EPS increasing from 2.18 to a peak of 5.99. A sharp contraction occurred in 2019, where earnings dropped to 0.42, followed by a steady recovery to 1.51 by 2022.
- Share Price Evolution
- The share price tracked the upward movement of earnings from 2009 to 2018, rising from 17.87 to 114.91. This trend was interrupted in 2019 by a significant price adjustment to 25.15, after which a moderate recovery trend emerged, bringing the price to 36.65 by 2022.
- Price-to-Earnings (P/E) Ratio Dynamics
- Between 2010 and 2014, valuation multiples remained relatively stable, ranging between 13.61 and 16.27. A valuation expansion occurred from 2015 to 2018, with the ratio peaking at 22.58. An extreme spike to 60.35 was recorded in 2019, resulting from the disproportionate collapse in earnings relative to the share price. From 2020 to 2022, the ratio began to normalize, declining from 31.69 to 24.22.
The observed patterns indicate a fundamental realignment of the financial profile starting in 2019. While the period from 2010 to 2018 was characterized by steady growth and moderate valuation multiples, the subsequent period shows a higher valuation baseline despite lower absolute earnings and share price levels compared to the 2018 peak.
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Comparison to Competitors
Keurig Dr Pepper Inc., P/E, long-term trends, comparison to competitors
| Keurig Dr Pepper Inc. | Coca-Cola Co. | Mondelēz International Inc. | PepsiCo Inc. | Philip Morris International Inc. | |
|---|---|---|---|---|---|
| Feb 24, 2022 | 24.22 | 27.63 | 21.64 | 30.58 | 18.37 |
| Feb 25, 2021 | 32.78 | 27.91 | 22.33 | 26.15 | 16.55 |
| Feb 27, 2020 | 31.69 | 28.21 | 21.72 | 27.83 | 18.94 |
| Feb 28, 2019 | 60.35 | 30.47 | 20.03 | 13.01 | 15.08 |
| Feb 14, 2018 | 19.20 | 150.54 | 21.45 | 32.81 | 26.52 |
| Feb 14, 2017 | 20.12 | 27.48 | 41.76 | 24.09 | 22.84 |
| Feb 23, 2016 | 22.58 | 26.01 | 8.59 | 25.72 | 20.57 |
| Feb 19, 2015 | 21.47 | 25.87 | 27.92 | 22.86 | 17.14 |
| Feb 20, 2014 | 16.27 | 19.54 | 14.69 | 17.66 | 14.60 |
| Feb 21, 2013 | 13.78 | 19.00 | 15.56 | 18.84 | 17.49 |
| Feb 22, 2012 | 13.61 | 18.27 | 19.01 | 15.45 | 16.64 |
| Feb 22, 2011 | 15.19 | 12.42 | 13.54 | 15.93 | 15.41 |
| Mar 1, 2010 | 14.28 | 17.81 | 14.11 | 16.49 | 14.53 |
| Mar 26, 2009 | — | 16.37 | 11.54 | 15.82 | 9.95 |
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).
Comparison to Sector (Food, Beverage & Tobacco)
Keurig Dr Pepper Inc., P/E, long-term trends, comparison to sector (food, beverage & tobacco)
| Keurig Dr Pepper Inc. | Food, Beverage & Tobacco | |
|---|---|---|
| Feb 24, 2022 | 24.22 | 24.78 |
| Feb 25, 2021 | 32.78 | 23.23 |
| Feb 27, 2020 | 31.69 | 24.75 |
| Feb 28, 2019 | 60.35 | 18.05 |
| Feb 14, 2018 | 19.20 | 37.84 |
| Feb 14, 2017 | 20.12 | 26.08 |
| Feb 23, 2016 | 22.58 | 19.86 |
| Feb 19, 2015 | 21.47 | 22.41 |
| Feb 20, 2014 | 16.27 | 16.88 |
| Feb 21, 2013 | 13.78 | 18.09 |
| Feb 22, 2012 | 13.61 | 17.18 |
| Feb 22, 2011 | 15.19 | 14.06 |
| Mar 1, 2010 | 14.28 | 16.01 |
| Mar 26, 2009 | — | 13.43 |
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).
Comparison to Industry (Consumer Staples)
Keurig Dr Pepper Inc., P/E, long-term trends, comparison to industry (consumer staples)
| Keurig Dr Pepper Inc. | Consumer Staples | |
|---|---|---|
| Feb 24, 2022 | 24.22 | 26.07 |
| Feb 25, 2021 | 32.78 | 24.12 |
| Feb 27, 2020 | 31.69 | 31.92 |
| Feb 28, 2019 | 60.35 | 20.62 |
| Feb 14, 2018 | 19.20 | 22.78 |
| Feb 14, 2017 | 20.12 | 21.50 |
| Feb 23, 2016 | 22.58 | 21.97 |
| Feb 19, 2015 | 21.47 | 19.71 |
| Feb 20, 2014 | 16.27 | 17.00 |
| Feb 21, 2013 | 13.78 | 16.60 |
| Feb 22, 2012 | 13.61 | 14.81 |
| Feb 22, 2011 | 15.19 | 14.32 |
| Mar 1, 2010 | 14.28 | 14.63 |
| Mar 26, 2009 | — | 15.52 |
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).