Stock Analysis on Net
Stock Analysis on Net

Keurig Dr Pepper Inc. (NASDAQ:KDP)

This company has been moved to the archive! The financial data has not been updated since July 28, 2022.

Adjusted Financial Ratios

Microsoft Excel

Adjusted Financial Ratios (Summary)

Keurig Dr Pepper Inc., adjusted financial ratios

Microsoft Excel
Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018
Activity Ratio
Total Asset Turnover
Reported 0.25 0.23 0.22 0.15
Adjusted 0.25 0.23 0.22 0.15
Liquidity Ratio
Current Ratio
Reported 0.47 0.31 0.35 0.38
Adjusted 0.47 0.31 0.35 0.38
Solvency Ratios
Debt to Equity
Reported 0.50 0.58 0.63 0.71
Adjusted 0.43 0.49 0.52 0.57
Debt to Capital
Reported 0.34 0.37 0.39 0.42
Adjusted 0.30 0.33 0.34 0.36
Financial Leverage
Reported 2.03 2.09 2.13 2.17
Adjusted 1.63 1.67 1.69 1.73
Profitability Ratios
Net Profit Margin
Reported 16.92% 11.40% 11.28% 7.87%
Adjusted 16.30% 10.85% 13.06% 4.10%
Return on Equity (ROE)
Reported 8.59% 5.56% 5.39% 2.60%
Adjusted 6.68% 4.22% 4.96% 1.07%
Return on Assets (ROA)
Reported 4.24% 2.66% 2.53% 1.20%
Adjusted 4.09% 2.53% 2.93% 0.62%

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).

Financial ratio Description The company
Adjusted total asset turnover An activity ratio calculated as total revenue divided by adjusted total assets. Keurig Dr Pepper Inc. adjusted total asset turnover ratio improved from 2019 to 2020 and from 2020 to 2021.
Adjusted current ratio A liquidity ratio calculated as adjusted current assets divided by adjusted current liabilities. Keurig Dr Pepper Inc. adjusted current ratio deteriorated from 2019 to 2020 but then improved from 2020 to 2021 exceeding 2019 level.
Adjusted debt-to-equity ratio A solvency ratio calculated as adjusted total debt divided by adjusted total equity. Keurig Dr Pepper Inc. adjusted debt-to-equity ratio improved from 2019 to 2020 and from 2020 to 2021.
Adjusted debt-to-capital ratio A solvency ratio calculated as adjusted total debt divided by adjusted total debt plus adjusted total equity. Keurig Dr Pepper Inc. adjusted debt-to-capital ratio improved from 2019 to 2020 and from 2020 to 2021.
Adjusted financial leverage A measure of financial leverage calculated as adjusted total assets divided by adjusted total equity.
Financial leverage is the extent to which a company can effect, through the use of debt, a proportional change in the return on common equity that is greater than a given proportional change in operating income.		 Keurig Dr Pepper Inc. adjusted financial leverage ratio decreased from 2019 to 2020 and from 2020 to 2021.
Adjusted net profit margin An indicator of profitability, calculated as adjusted net income divided by total revenue. Keurig Dr Pepper Inc. adjusted net profit margin ratio deteriorated from 2019 to 2020 but then improved from 2020 to 2021 exceeding 2019 level.
Adjusted ROE A profitability ratio calculated as adjusted net income divided by adjusted total equity. Keurig Dr Pepper Inc. adjusted ROE deteriorated from 2019 to 2020 but then improved from 2020 to 2021 exceeding 2019 level.
Adjusted ROA A profitability ratio calculated as adjusted net income divided by adjusted total assets. Keurig Dr Pepper Inc. adjusted ROA deteriorated from 2019 to 2020 but then improved from 2020 to 2021 exceeding 2019 level.

Keurig Dr Pepper Inc., Financial Ratios: Reported vs. Adjusted

Adjusted Total Asset Turnover

Microsoft Excel
Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018
Reported
Selected Financial Data (US$ in millions)
Net sales 12,683 11,618 11,120 7,442
Total assets 50,598 49,779 49,518 48,918
Activity Ratio
Total asset turnover1 0.25 0.23 0.22 0.15
Adjusted
Selected Financial Data (US$ in millions)
Net sales 12,683 11,618 11,120 7,442
Adjusted total assets2 50,563 49,755 49,498 49,146
Activity Ratio
Adjusted total asset turnover3 0.25 0.23 0.22 0.15

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).

1 2021 Calculation
Total asset turnover = Net sales ÷ Total assets
= 12,683 ÷ 50,598 = 0.25

2 Adjusted total assets. See details »

3 2021 Calculation
Adjusted total asset turnover = Net sales ÷ Adjusted total assets
= 12,683 ÷ 50,563 = 0.25

Activity ratio Description The company
Adjusted total asset turnover An activity ratio calculated as total revenue divided by adjusted total assets. Keurig Dr Pepper Inc. adjusted total asset turnover ratio improved from 2019 to 2020 and from 2020 to 2021.

Adjusted Current Ratio

Microsoft Excel
Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018
Reported
Selected Financial Data (US$ in millions)
Current assets 3,057 2,388 2,273 2,159
Current liabilities 6,485 7,694 6,474 5,702
Liquidity Ratio
Current ratio1 0.47 0.31 0.35 0.38
Adjusted
Selected Financial Data (US$ in millions)
Adjusted current assets2 3,064 2,409 2,282 2,167
Adjusted current liabilities3 6,453 7,670 6,451 5,665
Liquidity Ratio
Adjusted current ratio4 0.47 0.31 0.35 0.38

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).

1 2021 Calculation
Current ratio = Current assets ÷ Current liabilities
= 3,057 ÷ 6,485 = 0.47

2 Adjusted current assets. See details »

3 Adjusted current liabilities. See details »

4 2021 Calculation
Adjusted current ratio = Adjusted current assets ÷ Adjusted current liabilities
= 3,064 ÷ 6,453 = 0.47

Liquidity ratio Description The company
Adjusted current ratio A liquidity ratio calculated as adjusted current assets divided by adjusted current liabilities. Keurig Dr Pepper Inc. adjusted current ratio deteriorated from 2019 to 2020 but then improved from 2020 to 2021 exceeding 2019 level.

Adjusted Debt to Equity

Microsoft Excel
Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018
Reported
Selected Financial Data (US$ in millions)
Total debt 12,582 13,830 14,730 15,990
Stockholders’ equity 24,972 23,829 23,257 22,533
Solvency Ratio
Debt to equity1 0.50 0.58 0.63 0.71
Adjusted
Selected Financial Data (US$ in millions)
Adjusted total debt2 13,266 14,482 15,226 16,236
Adjusted total equity3 30,955 29,823 29,290 28,475
Solvency Ratio
Adjusted debt to equity4 0.43 0.49 0.52 0.57

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).

1 2021 Calculation
Debt to equity = Total debt ÷ Stockholders’ equity
= 12,582 ÷ 24,972 = 0.50

2 Adjusted total debt. See details »

3 Adjusted total equity. See details »

4 2021 Calculation
Adjusted debt to equity = Adjusted total debt ÷ Adjusted total equity
= 13,266 ÷ 30,955 = 0.43

Solvency ratio Description The company
Adjusted debt-to-equity ratio A solvency ratio calculated as adjusted total debt divided by adjusted total equity. Keurig Dr Pepper Inc. adjusted debt-to-equity ratio improved from 2019 to 2020 and from 2020 to 2021.

Adjusted Debt to Capital

Microsoft Excel
Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018
Reported
Selected Financial Data (US$ in millions)
Total debt 12,582 13,830 14,730 15,990
Total capital 37,554 37,659 37,987 38,523
Solvency Ratio
Debt to capital1 0.34 0.37 0.39 0.42
Adjusted
Selected Financial Data (US$ in millions)
Adjusted total debt2 13,266 14,482 15,226 16,236
Adjusted total capital3 44,221 44,305 44,516 44,711
Solvency Ratio
Adjusted debt to capital4 0.30 0.33 0.34 0.36

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).

1 2021 Calculation
Debt to capital = Total debt ÷ Total capital
= 12,582 ÷ 37,554 = 0.34

2 Adjusted total debt. See details »

3 Adjusted total capital. See details »

4 2021 Calculation
Adjusted debt to capital = Adjusted total debt ÷ Adjusted total capital
= 13,266 ÷ 44,221 = 0.30

Solvency ratio Description The company
Adjusted debt-to-capital ratio A solvency ratio calculated as adjusted total debt divided by adjusted total debt plus adjusted total equity. Keurig Dr Pepper Inc. adjusted debt-to-capital ratio improved from 2019 to 2020 and from 2020 to 2021.

Adjusted Financial Leverage

Microsoft Excel
Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018
Reported
Selected Financial Data (US$ in millions)
Total assets 50,598 49,779 49,518 48,918
Stockholders’ equity 24,972 23,829 23,257 22,533
Solvency Ratio
Financial leverage1 2.03 2.09 2.13 2.17
Adjusted
Selected Financial Data (US$ in millions)
Adjusted total assets2 50,563 49,755 49,498 49,146
Adjusted total equity3 30,955 29,823 29,290 28,475
Solvency Ratio
Adjusted financial leverage4 1.63 1.67 1.69 1.73

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).

1 2021 Calculation
Financial leverage = Total assets ÷ Stockholders’ equity
= 50,598 ÷ 24,972 = 2.03

2 Adjusted total assets. See details »

3 Adjusted total equity. See details »

4 2021 Calculation
Adjusted financial leverage = Adjusted total assets ÷ Adjusted total equity
= 50,563 ÷ 30,955 = 1.63

Solvency ratio Description The company
Adjusted financial leverage A measure of financial leverage calculated as adjusted total assets divided by adjusted total equity.
Financial leverage is the extent to which a company can effect, through the use of debt, a proportional change in the return on common equity that is greater than a given proportional change in operating income.		 Keurig Dr Pepper Inc. adjusted financial leverage ratio decreased from 2019 to 2020 and from 2020 to 2021.

Adjusted Net Profit Margin

Microsoft Excel
Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018
Reported
Selected Financial Data (US$ in millions)
Net income attributable to KDP 2,146 1,325 1,254 586
Net sales 12,683 11,618 11,120 7,442
Profitability Ratio
Net profit margin1 16.92% 11.40% 11.28% 7.87%
Adjusted
Selected Financial Data (US$ in millions)
Adjusted net income including non-controlling interest2 2,067 1,260 1,452 305
Net sales 12,683 11,618 11,120 7,442
Profitability Ratio
Adjusted net profit margin3 16.30% 10.85% 13.06% 4.10%

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).

1 2021 Calculation
Net profit margin = 100 × Net income attributable to KDP ÷ Net sales
= 100 × 2,146 ÷ 12,683 = 16.92%

2 Adjusted net income including non-controlling interest. See details »

3 2021 Calculation
Adjusted net profit margin = 100 × Adjusted net income including non-controlling interest ÷ Net sales
= 100 × 2,067 ÷ 12,683 = 16.30%

Profitability ratio Description The company
Adjusted net profit margin An indicator of profitability, calculated as adjusted net income divided by total revenue. Keurig Dr Pepper Inc. adjusted net profit margin ratio deteriorated from 2019 to 2020 but then improved from 2020 to 2021 exceeding 2019 level.

Adjusted Return on Equity (ROE)

Microsoft Excel
Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018
Reported
Selected Financial Data (US$ in millions)
Net income attributable to KDP 2,146 1,325 1,254 586
Stockholders’ equity 24,972 23,829 23,257 22,533
Profitability Ratio
ROE1 8.59% 5.56% 5.39% 2.60%
Adjusted
Selected Financial Data (US$ in millions)
Adjusted net income including non-controlling interest2 2,067 1,260 1,452 305
Adjusted total equity3 30,955 29,823 29,290 28,475
Profitability Ratio
Adjusted ROE4 6.68% 4.22% 4.96% 1.07%

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).

1 2021 Calculation
ROE = 100 × Net income attributable to KDP ÷ Stockholders’ equity
= 100 × 2,146 ÷ 24,972 = 8.59%

2 Adjusted net income including non-controlling interest. See details »

3 Adjusted total equity. See details »

4 2021 Calculation
Adjusted ROE = 100 × Adjusted net income including non-controlling interest ÷ Adjusted total equity
= 100 × 2,067 ÷ 30,955 = 6.68%

Profitability ratio Description The company
Adjusted ROE A profitability ratio calculated as adjusted net income divided by adjusted total equity. Keurig Dr Pepper Inc. adjusted ROE deteriorated from 2019 to 2020 but then improved from 2020 to 2021 exceeding 2019 level.

Adjusted Return on Assets (ROA)

Microsoft Excel
Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018
Reported
Selected Financial Data (US$ in millions)
Net income attributable to KDP 2,146 1,325 1,254 586
Total assets 50,598 49,779 49,518 48,918
Profitability Ratio
ROA1 4.24% 2.66% 2.53% 1.20%
Adjusted
Selected Financial Data (US$ in millions)
Adjusted net income including non-controlling interest2 2,067 1,260 1,452 305
Adjusted total assets3 50,563 49,755 49,498 49,146
Profitability Ratio
Adjusted ROA4 4.09% 2.53% 2.93% 0.62%

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).

1 2021 Calculation
ROA = 100 × Net income attributable to KDP ÷ Total assets
= 100 × 2,146 ÷ 50,598 = 4.24%

2 Adjusted net income including non-controlling interest. See details »

3 Adjusted total assets. See details »

4 2021 Calculation
Adjusted ROA = 100 × Adjusted net income including non-controlling interest ÷ Adjusted total assets
= 100 × 2,067 ÷ 50,563 = 4.09%

Profitability ratio Description The company
Adjusted ROA A profitability ratio calculated as adjusted net income divided by adjusted total assets. Keurig Dr Pepper Inc. adjusted ROA deteriorated from 2019 to 2020 but then improved from 2020 to 2021 exceeding 2019 level.