Dollar Amounts
USD (Millions)
Balance sheet data in USD (millions)
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Over 2021–2024 Keurig Dr Pepper’s balance sheet shows modest asset growth but rising leverage. Total assets increased from $50,598m to $53,430m (+$2,832m, +5.6%), while total liabilities rose faster from $25,626m to $29,187m (+$3,561m, +13.9%). As a result the liabilities-to-assets ratio moved from about 50.7% in 2021 to about 54.6% in 2024, and stockholders’ equity fell from $24,972m to $24,243m (a decline of $729m, -2.9%). The most notable single-year movement is 2024: assets grew ~2.5% year-over-year but liabilities jumped ~10.3%, which drove a ~5.6% drop in equity from 2023 to 2024. The pattern suggests the company financed recent growth or cash needs more with debt/liability increases than with equity (possible causes include higher borrowings, working-capital build, acquisitions, or capital returns such as buybacks/dividends—actual cause requires cash-flow/notes review). For a beverage industry peer with generally steady cash flows, moderate leverage can be normal, but the 2024 uptick in leverage reduces cushion and could raise interest‑cost sensitivity, especially in a rising‑rate environment. Note: 2025 figures are shown as zero and appear to be missing, so conclusions are limited to 2021–2024.
This analysis is for informational purposes only and does not constitute financial advice or recommendations for any investment decisions. Please consult with a qualified financial professional for personalized guidance.