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.

Enterprise Value to EBITDA (EV/EBITDA)

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Earnings before Interest, Tax, Depreciation and Amortization (EBITDA)

Keurig Dr Pepper Inc., EBITDA calculation

US$ in millions

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12 months ended: Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018
Net income attributable to KDP 2,146 1,325 1,254 586
Add: Net income attributable to noncontrolling interest (1) 3
Add: Income tax expense 653 428 440 202
Earnings before tax (EBT) 2,798 1,753 1,694 791
Add: Interest expense 500 604 654 452
Earnings before interest and tax (EBIT) 3,298 2,357 2,348 1,243
Add: Depreciation expense 410 362 358 233
Add: Amortization of intangibles 134 133 126 121
Earnings before interest, tax, depreciation and amortization (EBITDA) 3,842 2,852 2,832 1,597

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).

Item Description The company
EBITDA To calculate EBITDA analysts start with net earnings. To that earnings number, interest, taxes, depreciation, and amortization are added. EBITDA as a pre-interest number is a flow to all providers of capital. Keurig Dr Pepper Inc. EBITDA increased from 2019 to 2020 and from 2020 to 2021.

Enterprise Value to EBITDA Ratio, Current

Keurig Dr Pepper Inc., current EV/EBITDA calculation, comparison to benchmarks

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Selected Financial Data (US$ in millions)
Enterprise value (EV) 66,533
Earnings before interest, tax, depreciation and amortization (EBITDA) 3,842
Valuation Ratio
EV/EBITDA 17.32
Benchmarks
EV/EBITDA, Competitors1
Coca-Cola Co. 18.78
Mondelēz International Inc. 13.55
PepsiCo Inc. 17.26
EV/EBITDA, Sector
Food, Beverage & Tobacco 18.35
EV/EBITDA, Industry
Consumer Staples 18.42

Based on: 10-K (reporting date: 2021-12-31).

1 Click competitor name to see calculations.

If the company EV/EBITDA is lower then the EV/EBITDA of benchmark then company is relatively undervalued.
Otherwise, if the company EV/EBITDA is higher then the EV/EBITDA of benchmark then company is relatively overvalued.


Enterprise Value to EBITDA Ratio, Historical

Keurig Dr Pepper Inc., historical EV/EBITDA calculation, comparison to benchmarks

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Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018
Selected Financial Data (US$ in millions)
Enterprise value (EV)1 63,990 57,004 54,362 51,224
Earnings before interest, tax, depreciation and amortization (EBITDA)2 3,842 2,852 2,832 1,597
Valuation Ratio
EV/EBITDA3 16.66 19.99 19.20 32.08
Benchmarks
EV/EBITDA, Competitors4
Coca-Cola Co. 19.52 19.66 21.79
Mondelēz International Inc. 15.62 15.14 18.69
PepsiCo Inc. 18.42 17.17 17.85
EV/EBITDA, Sector
Food, Beverage & Tobacco 18.35 17.76 19.64
EV/EBITDA, Industry
Consumer Staples 15.91 15.18 18.37

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 See details »

2 See details »

3 2021 Calculation
EV/EBITDA = EV ÷ EBITDA
= 63,990 ÷ 3,842 = 16.66

4 Click competitor name to see calculations.

Valuation ratio Description The company
EV/EBITDA Enterprise value to earnings before interest, tax, depreciation and amortization is a valuation indicator for the overall company rather than common stock. Keurig Dr Pepper Inc. EV/EBITDA ratio increased from 2019 to 2020 but then decreased significantly from 2020 to 2021.