KDP vs. PEP

Last updated Apr 1, 2026

Compare and contrast key facts about Keurig Dr Pepper Inc. (KDP) and PepsiCo, Inc. (PEP).

Performance

KDP vs. PEP - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Keurig Dr Pepper Inc. (KDP) and PepsiCo, Inc. (PEP). The values are adjusted to include any dividend payments, if applicable.

KDP vs. PEP - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
KDP Keurig Dr Pepper Inc.	-4.38%	-10.14%	-1.05%	-4.24%	-1.23%	17.49%	13.03%	15.43%	-73.28%	9.76%
PEP PepsiCo, Inc.	9.17%	-1.85%	-7.60%	-3.29%	6.78%	20.56%	11.67%	27.38%	-4.81%	17.82%

Fundamentals

Market Cap KDP : $35.88B PEP : $212.90B
EPS KDP : $1.53 PEP : $6.00
PE Ratio KDP : 17.26 PEP : 25.86
PEG Ratio KDP : 2.08 PEP : 9.18
PS Ratio KDP : 2.16 PEP : 2.27
PB Ratio KDP : 1.41 PEP : 10.43
Total Revenue (TTM) KDP : $16.60B PEP : $93.93B
Gross Profit (TTM) KDP : $9.00B PEP : $50.86B
EBITDA (TTM) KDP : $3.58B PEP : $14.39B

Returns By Period

In the year-to-date period, KDP achieves a -4.38% return, which is significantly lower than PEP's 9.17% return. Over the past 10 years, KDP has underperformed PEP with an annualized return of -9.58%, while PEP has yielded a comparatively higher 7.32% annualized return.

KDP

• 1D: -0.45%
• 1M: -12.28%
• YTD: -4.38%
• 6M: 4.99%
• 1Y: -20.48%
• 3Y*: -6.64%
• 5Y*: -2.78%
• 10Y*: -9.58%

PEP

• 1D: -0.98%
• 1M: -7.70%
• YTD: 9.17%
• 6M: 12.65%
• 1Y: 7.72%
• 3Y*: -1.95%
• 5Y*: 5.12%
• 10Y*: 7.32%

*Multi-year figures are annualized to reflect compound growth (CAGR)

Return for Risk

KDP vs. PEP — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

KDP

KDP Risk / Return Rank: 15
KDP Sharpe Ratio Rank: 10
KDP Sortino Ratio Rank: 12
KDP Omega Ratio Rank: 12
KDP Calmar Ratio Rank: 18
KDP Martin Ratio Rank: 21

PEP

PEP Risk / Return Rank: 52
PEP Sharpe Ratio Rank: 55
PEP Sortino Ratio Rank: 48
PEP Omega Ratio Rank: 45
PEP Calmar Ratio Rank: 55
PEP Martin Ratio Rank: 55

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

KDP vs. PEP - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Keurig Dr Pepper Inc. (KDP) and PepsiCo, Inc. (PEP). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	KDP	PEP	Difference
Sharpe ratio Return per unit of total volatility	-0.77	0.35	-1.11
Sortino ratio Return per unit of downside risk	-0.91	0.70	-1.61
Omega ratio Gain probability vs. loss probability	0.87	1.08	-0.21
Calmar ratio Return relative to maximum drawdown	-0.69	0.54	-1.23
Martin ratio Return relative to average drawdown	-1.15	1.11	-2.26
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

KDP vs. PEP - Sharpe Ratio Comparison

The current KDP Sharpe Ratio is -0.77, which is lower than the PEP Sharpe Ratio of 0.35. The chart below compares the historical Sharpe Ratios of KDP and PEP, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	KDP	PEP	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.77	0.35	-1.11
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.14	0.28	-0.42
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	-0.27	0.38	-0.65
Sharpe Ratio (All Time) Calculated using the full available price history	0.07	0.39	-0.32

Correlation

The correlation between KDP and PEP is 0.52, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

KDP vs. PEP - Dividend Comparison

KDP's dividend yield for the trailing twelve months is around 3.49%, less than PEP's 3.66% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
KDP Keurig Dr Pepper Inc.	3.49%	3.28%	2.72%	2.45%	2.14%	1.83%	1.88%	2.07%	2.85%	2.39%	2.34%	2.06%
PEP PepsiCo, Inc.	3.66%	3.92%	3.51%	2.91%	2.50%	2.45%	2.71%	2.77%	3.25%	2.64%	2.83%	2.76%

Drawdowns

KDP vs. PEP - Drawdown Comparison

The maximum KDP drawdown since its inception was -83.62%, which is greater than PEP's maximum drawdown of -73.92%. Use the drawdown chart below to compare losses from any high point for KDP and PEP.

Drawdown Indicators

	KDP	PEP	Difference
Max Drawdown Largest peak-to-trough decline	-83.62%	-73.92%	-9.70%
Max Drawdown (1Y) Largest decline over 1 year	-28.01%	-15.14%	-12.87%
Max Drawdown (5Y) Largest decline over 5 years	-31.20%	-30.32%	-0.88%
Max Drawdown (10Y) Largest decline over 10 years	-83.62%	-30.32%	-53.30%
Current Drawdown Current decline from peak	-74.31%	-12.39%	-61.92%
Average Drawdown Average peak-to-trough decline	-35.21%	-13.64%	-21.57%
Ulcer Index Depth and duration of drawdowns from previous peaks	16.81%	7.37%	+9.44%

Volatility

KDP vs. PEP - Volatility Comparison

Keurig Dr Pepper Inc. (KDP) has a higher volatility of 5.93% compared to PepsiCo, Inc. (PEP) at 5.35%. This indicates that KDP's price experiences larger fluctuations and is considered to be riskier than PEP based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	KDP	PEP	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.93%	5.35%	+0.58%
Volatility (6M) Calculated over the trailing 6-month period	17.94%	14.83%	+3.11%
Volatility (1Y) Calculated over the trailing 1-year period	26.80%	22.46%	+4.34%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.62%	18.11%	+2.51%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	34.97%	19.55%	+15.42%

Financials

KDP vs. PEP - Profitability Comparison

The chart below illustrates the profitability comparison between Keurig Dr Pepper Inc. and PepsiCo, Inc. over time, highlighting three key metrics: Gross Profit Margin, Operating Margin, and Net Profit Margin.

KDP - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Apr 2026, Keurig Dr Pepper Inc. reported a gross profit of 2.42B and revenue of 4.50B. Therefore, the gross margin over that period was 53.8%.

PEP - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Apr 2026, PepsiCo, Inc. reported a gross profit of 15.62B and revenue of 29.34B. Therefore, the gross margin over that period was 53.2%.

KDP - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Apr 2026, Keurig Dr Pepper Inc. reported an operating income of 881.00M and revenue of 4.50B, resulting in an operating margin of 19.6%.

PEP - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Apr 2026, PepsiCo, Inc. reported an operating income of 3.56B and revenue of 29.34B, resulting in an operating margin of 12.1%.

KDP - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Apr 2026, Keurig Dr Pepper Inc. reported a net income of 353.00M and revenue of 4.50B, resulting in a net margin of 7.9%.

PEP - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Apr 2026, PepsiCo, Inc. reported a net income of 2.54B and revenue of 29.34B, resulting in a net margin of 8.7%.