North American beverage and coffee platform
Keurig Dr Pepper Inc.
Keurig Dr Pepper earns revenue by selling beverage concentrates and finished drinks, Keurig brewers, and K-Cup pods to retailers, bottlers, and distributors. It buys coffee and packaging inputs, pays royalties for licensed brands, and acquires companies and equity interests to expand its beverage distribution and global coffee operations.
KDP Updated Sep 12, 2026 4 AI consumers· 2 recurring
Per the valuechain.wiki graph, Keurig Dr Pepper Inc. is directly linked to 3 companies (1 supply, 2 revenue relationships) and reaches 9 companies within two hops; the links are backed by 7 dated sources, 4 of them primary filings (as of 2026-09-12).
Financials & Segments
- Total revenue · FY2025 revenue from contracts with customers: $16.603 billion
- Segments · U.S. Refreshment Beverages · U.S. Coffee · International
Revenue from
- Walmart Inc. High confidence· Revenue share 16 percent · FY2025 · Walmart's share of KDP consolidated net sales
Walmart is KDP's largest retail customer and purchases products across every reportable segment. The disclosed customer revenue concentration is recorded in the metric. - PepsiCo, Inc. High confidence
KDP grants carbonated-soft-drink manufacturing and distribution rights to PepsiCo-affiliated bottlers and sells products directly to partners and customers. PepsiCo independently confirms that it manufactures and distributes KDP-licensed Dr Pepper, Crush, and Schweppes; counterparty-specific revenue is not disclosed.
Pays to
- McDonald's Corporation High confidence
KDP holds the long-term master license for McCafé packaged coffee and manages U.S. sourcing, manufacturing, distribution, and marketing. KDP's 10-K says this class of trade-name license may include royalties or upfront payments, but it does not disclose the amount paid to McDonald's.Confirms EN Keurig Dr Pepper Published Sep 26, 2019: McDonald's USA Enters Agreement with Keurig Dr Pepper for McCafé Packaged Coffee - Sunkist Growers, Inc. High confidence
KDP licenses the Sunkist Growers trademark to manufacture and sell Sunkist carbonated soft drinks in the U.S. KDP says this type of trademark license generally includes a royalty payment, but no counterparty-specific amount is disclosed.Confirms EN U.S. Patent and Trademark Office, Trademark Trial and Appeal Board Published May 6, 2022: Declaration of Mark Madden, Vice President of Marketing and Global Licensing of Sunkist Growers
Investments
- JDE Peet's N.V. High confidence· Amount $17.4B · Acquisition completed through 2026-04-15 · Aggregate cash paid for tendered shares representing 97.75% of JDE Peet's issued shares
KDP acquired substantially all of JDE Peet's through a tender offer and combined it with the existing Keurig business to form a global coffee operation. The metric uses cash paid in the latest quarterly filing, which also states that KDP intends to acquire the remaining shares.Confirms EN SEC EDGAR Published Aug 10, 2026: Keurig Dr Pepper Inc. Form 10-Q for the Quarter Ended June 30, 2026Mentions EN S&P Global Ratings Published Mar 10, 2026: Keurig Dr Pepper Inc. Downgraded To 'BBB-' From 'BBB' On Acquisition Of JDE Peet's N.V.; Removed From CreditWatchMentions KO Edaily Published Aug 27, 2025: HSBC Cuts Keurig Dr Pepper to Neutral on Burden of $18 Billion JDE Peet's Acquisition
Value-chain ripple (2 tiers)
Following node-to-node links up to 2 tiers; each firm is shown once, at its nearest tier.
| Company | Chain | '21 | '22 | '23 | '24 | '25 | YTD |
|---|---|---|---|---|---|---|---|
| UnitedHealth Group Incorporated | lead2 | +45.2 | +6.9 | +0.8 | -2.4 | -33.1 | +21.9 |
| Sysco Corporation | lead2 | +8.3 | -0.3 | -1.7 | +7.4 | -1 | +11 |
| Costco Wholesale | lead2 | +51.8 | -19 | +49 | +39.6 | -5.4 | +6.7 |
| E-mart Inc. | lead2 | -18.4 | -19.5 | -25.3 | -14.6 | +44.7 | -17.1 |
| PepsiCo | lead1 | +20.6 | +6.8 | -3.3 | -7.6 | -1.8 | -2.2 |
| Walmart Inc | lead1 | +2 | -0.5 | +12.9 | +74 | +24.5 | -3.2 |
| Keurig Dr Pepper Inc. | node | +17.5 | -1.2 | -4.2 | -1.1 | -10.1 | +19.2 |
| McDonald's | benef1 | +27.8 | +0.5 | +15.1 | +0.1 | +7.9 | -14.7 |
| The Coca-Cola Company | benef2 | +11.4 | +10.6 | -4.4 | +8.9 | +15.6 | +27.7 |
| Alphabet (Google) | benef2 | +65.3 | -39.1 | +58.3 | +36 | +66 | +8.3 |
YTD as of 2026-09-04 · source: Yahoo Finance
Keurig Dr Pepper Inc. operates across North American beverage and coffee platform. It is +19.2% in 2026. The stock (+19.2%) is ahead of both its demand side (avg -2.7%) and supply side (avg -14.7%). Having run ahead of its chain, it is the first spot to give back if customer numbers fail to follow. Among connected nodes the furthest ahead is PepsiCo (-2.2%) and the furthest behind is McDonald's (-14.7%). If chain logic explains the gap, the laggard is the next propagation candidate; if not, the link itself deserves a second look. It buys coffee and packaging inputs, pays royalties for licensed brands, and acquires companies and equity interests to expand its beverage distribution and global coffee operations.
Analysis generated from returns as of 2026-09-04