Price to Sales (P/S)
since 2008
Calculation
Keurig Dr Pepper Inc., P/S, long-term trends, calculation
| P/S | = | Share price1, 2, 3 | ÷ | Sales per share1 | Sales per share1 | = | Net sales1 (in millions) |
÷ | No. shares of common stock outstanding2 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Feb 24, 2022 | 4.10 | = | 36.65 | ÷ | 8.94 | 8.94 | = | 12,683 | ÷ | 1,418,158,363 | |
| Feb 25, 2021 | 3.74 | = | 30.86 | ÷ | 8.26 | 8.26 | = | 11,618 | ÷ | 1,407,267,272 | |
| Feb 27, 2020 | 3.57 | = | 28.24 | ÷ | 7.90 | 7.90 | = | 11,120 | ÷ | 1,406,986,313 | |
| Feb 28, 2019 | 4.75 | = | 25.15 | ÷ | 5.29 | 5.29 | = | 7,442 | ÷ | 1,406,081,521 | |
| Feb 14, 2018 | 3.09 | = | 114.91 | ÷ | 37.22 | 37.22 | = | 6,690 | ÷ | 179,744,078 | |
| Feb 14, 2017 | 2.65 | = | 93.07 | ÷ | 35.17 | 35.17 | = | 6,440 | ÷ | 183,094,247 | |
| Feb 23, 2016 | 2.75 | = | 92.09 | ÷ | 33.53 | 33.53 | = | 6,282 | ÷ | 187,349,988 | |
| Feb 19, 2015 | 2.47 | = | 78.22 | ÷ | 31.72 | 31.72 | = | 6,121 | ÷ | 192,962,748 | |
| Feb 20, 2014 | 1.69 | = | 51.47 | ÷ | 30.40 | 30.40 | = | 5,997 | ÷ | 197,274,122 | |
| Feb 21, 2013 | 1.45 | = | 42.57 | ÷ | 29.44 | 29.44 | = | 5,995 | ÷ | 203,632,429 | |
| Feb 22, 2012 | 1.40 | = | 38.88 | ÷ | 27.83 | 27.83 | = | 5,903 | ÷ | 212,073,549 | |
| Feb 22, 2011 | 1.42 | = | 35.80 | ÷ | 25.16 | 25.16 | = | 5,636 | ÷ | 223,974,770 | |
| Mar 1, 2010 | 1.43 | = | 31.18 | ÷ | 21.77 | 21.77 | = | 5,531 | ÷ | 254,115,758 | |
| Mar 26, 2009 | 0.79 | = | 17.87 | ÷ | 22.50 | 22.50 | = | 5,710 | ÷ | 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.
An analysis of the Price to Sales (P/S) ratio from 2009 to 2022 reveals a long-term trajectory of valuation expansion. The ratio evolved from a low of 0.79 in 2009 to 4.10 by 2022, indicating that the market has progressively assigned a higher premium to each dollar of the company's revenue over the analyzed period.
- Initial Growth Phase (2009–2014)
- Between 2009 and 2014, the P/S ratio experienced a steady upward trend, moving from 0.79 to 1.69. This growth was supported by a consistent increase in both share price and sales per share, suggesting a period of stable organic growth and increasing investor confidence in the revenue model.
- Valuation Acceleration (2015–2018)
- A significant acceleration in valuation is observed between 2015 and 2018, during which the P/S ratio climbed from 2.47 to 3.09. This period is characterized by a sharp increase in share price, which rose from 78.22 to 114.91, outpacing the growth in sales per share and resulting in an expanded valuation multiple.
- Structural Adjustment and Peak Valuation (2019–2022)
- The data indicates a major structural change in February 2019, evidenced by a substantial decrease in nominal share price and sales per share. Despite this adjustment, the P/S ratio reached its historical peak of 4.75 in 2019. While the ratio experienced a temporary correction to 3.57 in 2020, it recovered to 4.10 by 2022, confirming a sustained shift toward a higher valuation floor compared to the pre-2019 era.
Overall, the data demonstrates a clear transition from a valuation below 1.0x sales to a valuation consistently exceeding 3.0x sales in the latter half of the period. This suggests a fundamental shift in market perception regarding the quality, stability, or growth potential of the company's revenue streams.
AI Ask an analyst for more
Hi, I’m an AI-powered financial analyst at Stock Analysis on Net.
Without a user account, I tend to respond rather slowly.
How can I help you?
Comparison to Competitors
Keurig Dr Pepper Inc., P/S, 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 | 4.10 | 6.99 | 3.24 | 2.93 | 5.33 |
| Feb 25, 2021 | 3.74 | 6.55 | 2.99 | 2.65 | 4.65 |
| Feb 27, 2020 | 3.57 | 6.75 | 3.25 | 3.03 | 4.57 |
| Feb 28, 2019 | 4.75 | 6.15 | 2.61 | 2.52 | 4.03 |
| Feb 14, 2018 | 3.09 | 5.31 | 2.42 | 2.51 | 5.57 |
| Feb 14, 2017 | 2.65 | 4.28 | 2.67 | 2.43 | 5.96 |
| Feb 23, 2016 | 2.75 | 4.32 | 2.11 | 2.22 | 5.28 |
| Feb 19, 2015 | 2.47 | 3.99 | 1.78 | 2.23 | 4.32 |
| Feb 20, 2014 | 1.69 | 3.58 | 1.63 | 1.79 | 4.01 |
| Feb 21, 2013 | 1.45 | 3.57 | 1.35 | 1.78 | 4.91 |
| Feb 22, 2012 | 1.40 | 3.36 | 1.23 | 1.50 | 4.60 |
| Feb 22, 2011 | 1.42 | 4.18 | 1.13 | 1.74 | 4.11 |
| Mar 1, 2010 | 1.43 | 3.92 | 1.06 | 2.27 | 3.68 |
| Mar 26, 2009 | 0.79 | 2.98 | 0.79 | 1.88 | 2.67 |
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/S, long-term trends, comparison to sector (food, beverage & tobacco)
| Keurig Dr Pepper Inc. | Food, Beverage & Tobacco | |
|---|---|---|
| Feb 24, 2022 | 4.10 | 4.28 |
| Feb 25, 2021 | 3.74 | 3.88 |
| Feb 27, 2020 | 3.57 | 4.22 |
| Feb 28, 2019 | 4.75 | 3.59 |
| Feb 14, 2018 | 3.09 | 3.71 |
| Feb 14, 2017 | 2.65 | 3.56 |
| Feb 23, 2016 | 2.75 | 3.27 |
| Feb 19, 2015 | 2.47 | 2.95 |
| Feb 20, 2014 | 1.69 | 2.61 |
| Feb 21, 2013 | 1.45 | 2.72 |
| Feb 22, 2012 | 1.40 | 2.35 |
| Feb 22, 2011 | 1.42 | 2.45 |
| Mar 1, 2010 | 1.43 | 2.54 |
| Mar 26, 2009 | 0.79 | 1.95 |
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 Industry (Consumer Staples)
Keurig Dr Pepper Inc., P/S, long-term trends, comparison to industry (consumer staples)
| Keurig Dr Pepper Inc. | Consumer Staples | |
|---|---|---|
| Feb 24, 2022 | 4.10 | 1.61 |
| Feb 25, 2021 | 3.74 | 1.49 |
| Feb 27, 2020 | 3.57 | 1.47 |
| Feb 28, 2019 | 4.75 | 1.24 |
| Feb 14, 2018 | 3.09 | 1.25 |
| Feb 14, 2017 | 2.65 | 1.26 |
| Feb 23, 2016 | 2.75 | 1.23 |
| Feb 19, 2015 | 2.47 | 1.18 |
| Feb 20, 2014 | 1.69 | 1.14 |
| Feb 21, 2013 | 1.45 | 1.10 |
| Feb 22, 2012 | 1.40 | 1.03 |
| Feb 22, 2011 | 1.42 | 1.08 |
| Mar 1, 2010 | 1.43 | 1.01 |
| Mar 26, 2009 | 0.79 | 1.04 |
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).