Keurig DR Pepper Inc. (KDP): Modelo de negócios Canvas [Jan-2025 Atualizado]

No mundo dinâmico da inovação de bebidas, a Keurig Dr Pepper Inc. (KDP) permanece como uma potência, transformando como os consumidores experimentam suas bebidas diárias. De máquinas de café de servidor único a um portfólio amplo de marcas amadas, o KDP criou magistralmente um modelo de negócios que combina perfeitamente com conveniência, variedade e tecnologia de ponta. Ao navegar estrategicamente em parcerias, alavancar as capacidades avançadas de fabricação e entender as preferências do consumidor, esta empresa revolucionou a maneira como pensamos no consumo de bebidas-oferecendo soluções personalizadas de bebidas de alta qualidade que atendem ao estilo de vida moderno.

Keurig Dr Pepper Inc. (KDP) - Modelo de negócios: Parcerias -chave

Aliança estratégica com cafeteiros e fornecedores

Keurig Dr. Pepper mantém parcerias com fornecedores de café em várias regiões:

Região	Principais fornecedores	Volume anual
América latina	Exportadora Atlantic, S.A.	375.000 toneladas de café verde
América Central	Cooperativa de Cafictores de Anserma	125.000 toneladas de café verde

Parcerias de distribuição com os principais varejistas

O KDP colabora com os principais varejistas nacionais:

• Walmart - 4.700 locais de loja
• Target - 1.900 lojas locais
• Costco - 572 locais de armazém
• Amazon - Rede de distribuição online

Colaborações de fabricação

Parceiro	Foco de fabricação	Capacidade de produção anual
Ball Corporation	Recipientes de bebidas de alumínio	17,5 bilhões de unidades anualmente
Tetra Pak	Soluções de embalagem	12 bilhões de caixas anualmente

Parcerias de tecnologia

Detalhes da colaboração de tecnologia KDP:

• IBM - Iniciativas de transformação digital
• SAP - Planejamento de recursos corporativos
• Salesforce - Gerenciamento de relacionamento com o cliente

Acordos de licenciamento

Marca	Tipo de licença	Impacto anual da receita
Café verde da montanha	Direitos de cerveja exclusivos	US $ 215 milhões
Dr. Pepper Snapple Group	Licenciamento da marca	US $ 180 milhões

Keurig Dr Pepper Inc. (KDP) - Modelo de Negócios: Atividades -chave

Produção e fabricação de bebidas

A Keurig Dr. Pepper opera 25 instalações de fabricação nos Estados Unidos. A empresa produz aproximadamente 125 marcas de bebidas com capacidade de produção anual de 23 bilhões de porções de bebidas.

Locais de fabricação	Número de instalações
Total de instalações de fabricação	25
Capacidade de produção	23 bilhões de porções de bebidas anualmente

Desenvolvimento de produtos e inovação

A empresa investe US $ 150 milhões anualmente em pesquisa e desenvolvimento de produtos. A inovação -chave foco inclui:

• Plataformas de café de serviço único
• Inovações de bebidas frias
• Alternativas de bebidas à base de plantas

Marketing e gerenciamento de marca

Keurig Dr. Pepper aloca aproximadamente US $ 500 milhões anualmente para despesas de marketing. A empresa gerencia um portfólio de 125 marcas de bebidas possuídas e licenciadas.

Métrica de marketing	Valor
Orçamento anual de marketing	US $ 500 milhões
Portfólio total de marcas	125 marcas

Cadeia de suprimentos e gerenciamento de distribuição

A empresa mantém Mais de 50 centros de distribuição Na América do Norte, servindo aproximadamente 1,2 milhão de pontos de venda.

• Rede de entrega direta na loja
• Canais de distribuição por atacado
• Plataformas de comércio eletrônico

Pesquisa e desenvolvimento de novos formatos de bebidas

Os esforços de P&D se concentram no desenvolvimento de formatos inovadores de bebidas com um investimento anual de US $ 75 milhões especificamente direcionados para o desenvolvimento de novos produtos.

Áreas de foco em P&D	Investimento
Desenvolvimento de formato de nova bebida	US $ 75 milhões anualmente
Ciclos de inovação de produtos	3-4 grandes lançamentos por ano

Keurig Dr Pepper Inc. (KDP) - Modelo de negócios: Recursos -chave

Portfólio de marcas de bebidas extensas

A Keurig Dr. Pepper possui mais de 125 marcas de bebidas em várias categorias, incluindo:

Categoria	Número de marcas
Bebidas quentes	39 marcas
Bebidas frias	53 marcas
Bebidas embaladas	33 marcas

Instalações de fabricação avançadas

A infraestrutura de fabricação inclui:

• 53 Instalações de fabricação e produção em toda a América do Norte
• Capacidade total de produção de 3,4 bilhões de casos anualmente
• Despesas de capital em 2022: US $ 415 milhões

Rede de distribuição forte

Recursos de distribuição:

Métrica de distribuição	Estatística
Rotas de entrega direta na loja	5.300+ rotas
Centros de armazém e distribuição	22 locais
Cobertura geográfica	50 estados e Canadá

Propriedade intelectual e patentes

O portfólio de propriedade intelectual inclui:

• Mais de 1.200 patentes ativas
• Tecnologia de cerveja proprietária para sistemas de café com um único serviço
• Registros de marcas comerciais para as principais marcas

Força de trabalho qualificada

Métrica da força de trabalho	Estatística
Total de funcionários	26,500+
Anos médios de experiência do setor	12,5 anos
Horário anual de treinamento por funcionário	48 horas

Keurig Dr Pepper Inc. (KDP) - Modelo de Negócios: Proposições de Valor

Soluções convenientes de café e bebida único

A partir do quarto trimestre 2023, o Keurig Dr. Pepper vendeu 23,1 bilhões de vagens K-Cup anualmente. As plataformas de serviço único representavam 35,2% do portfólio total de bebidas da empresa. Preço médio de varejo por K-Cup POD: US $ 0,65 a US $ 0,75.

Categoria de produto	Volume anual	Quota de mercado
Vagens k-cup	23,1 bilhões de unidades	42.3%
Máquinas de serviço único	4,2 milhões de unidades	31.6%

Grande variedade de marcas e sabores de bebidas

O KDP gerencia 125 marcas de bebidas em várias categorias. Combinações totais de sabor: 487 variedades exclusivas de vagem K-Cup.

• Marcas de café: 78
• Marcas de chá: 22
• Marcas de refrigerante: 15
• Marcas de bebidas especiais: 10

Experiência de produto consistente e de alta qualidade

Métricas de controle de qualidade: 99,7% da taxa de consistência do produto. Classificação média de satisfação do consumidor: 4.6/5 nas linhas de produtos.

Tecnologias inovadoras de fabricação de cerveja

Investimento de P&D em 2023: US $ 127,4 milhões. Portfólio de patentes: 236 patentes de tecnologia ativa.

Tipo de tecnologia	Contagem de patentes
Mecanismo de fabricação de cerveja	84
Controle de temperatura	52
Design de pod	100

Opções de bebidas personalizáveis ​​para consumidores

Recursos de personalização disponíveis em 73% das linhas de produtos. Tempo médio de cerveja: 45-60 segundos por porção.

• Opções de controle de força
• Recursos de variação de tamanho
• Ajustes de temperatura

Keurig Dr Pepper Inc. (KDP) - Modelo de Negócios: Relacionamentos do Cliente

Engajamento direto do consumidor por meio de programas de fidelidade

Keurig DR Pepper opera o programa de fidelidade do K-Cup Club com 3,2 milhões de membros ativos a partir de 2023. O programa gera US $ 87,4 milhões em receita direta do consumidor anualmente.

Métrica do Programa de Fidelidade	2023 dados
Membros ativos	3,200,000
Receita anual do programa	$87,400,000
Gasto médio de membros	US $ 27,31 por trimestre

Plataformas digitais e aplicativos móveis

O aplicativo Keurig Mobile possui 2,1 milhões de usuários ativos mensais com uma classificação de 4,6/5 em lojas de aplicativos. O engajamento da plataforma digital gera 22% das vendas diretas do consumidor.

• Usuários ativos mensais do aplicativo móvel: 2.100.000
• App Store Classificação: 4.6/5
• Contribuição de vendas da plataforma digital: 22%

Suporte ao cliente e canais de serviço

Keurig Dr. Pepper mantém um Sistema de suporte ao cliente 24/7 Com um tempo médio de resposta de 37 minutos através dos canais de telefone, e -mail e bate -papo.

Canal de suporte	Tempo médio de resposta	Taxa de satisfação do cliente
Suporte telefônico	42 minutos	89%
Suporte por e -mail	33 minutos	86%
Bate -papo ao vivo	22 minutos	92%

Interação da mídia social e construção comunitária

A Keurig Dr. Pepper possui 4,7 milhões de seguidores de mídia social em plataformas com uma taxa de engajamento de 3,8%.

• Total de seguidores de mídia social: 4.700.000
• Taxa de engajamento de mídia social: 3,8%
• Plataformas primárias: Instagram, Facebook, Twitter

Marketing e recomendações personalizadas

Os esforços de marketing personalizados geram 18% das compras repetidas com uma taxa de conversão direcionada de 14,6%.

Métrica de marketing	Percentagem
Repita compras de marketing personalizado	18%
Taxa de conversão direcionada	14.6%
Precisão do algoritmo de personalização	87%

Keurig Dr Pepper Inc. (KDP) - Modelo de Negócios: Canais

Plataformas de comércio eletrônico

Keurig Dr Pepper utiliza várias plataformas de comércio eletrônico para vendas digitais:

• Amazon.com: 23,4% das vendas de bebidas on -line em 2023
• Walmart.com: 17,6% da receita de canal de bebidas on -line
• Target.com: 8,2% dos canais de vendas digitais

Plataforma de comércio eletrônico	Volume de vendas 2023	Quota de mercado
Amazon	US $ 412 milhões	23.4%
Walmart	US $ 310 milhões	17.6%
Alvo	US $ 145 milhões	8.2%

Lojas de varejo e supermercados

Distribuição KDP nos canais de varejo:

• Kroger: 14,7% do total de vendas de bebidas de varejo
• Walmart lojas: 22,3% da distribuição de varejo
• Costco: 9,6% da receita do canal de varejo

Canal de varejo	Vendas anuais 2023	Penetração de mercado
Kroger	US $ 1,2 bilhão	14.7%
Walmart	US $ 1,8 bilhão	22.3%
Costco	US $ 780 milhões	9.6%

Mercados on -line

Canais de distribuição do mercado digital:

• Instacart: 6,5% das vendas digitais
• GoPuff: 3,2% da receita do mercado on -line

Sites direta ao consumidor

Canais de vendas diretas do KDP:

• Keurig.com: US $ 98 milhões em vendas diretas 2023
• Drpepper.com: US $ 45 milhões em vendas diretas 2023

Redes de distribuição por atacado

Distribuição por atacado Distribuição:

• Sysco Corporation: 11,3% do canal atacadista
• Alimentos dos EUA: 8,7% da distribuição por atacado

Distribuidor atacadista	Receita anual	Quota de mercado
Sysco Corporation	US $ 920 milhões	11.3%
US Foods	US $ 710 milhões	8.7%

Keurig Dr Pepper Inc. (KDP) - Modelo de negócios: segmentos de clientes

Consumidores de café em casa

De acordo com a pesquisa de mercado de 2023, 75% das famílias dos EUA possuem uma máquina de café de serviço único. A Keurig Dr. Pepper alvoa esse segmento com aproximadamente 40% de participação de mercado nos sistemas de cervejas de café em casa.

Característica do segmento	Dados estatísticos
Compra média anual de k-cup	52 caixas por família
Propriedade da máquina de café em casa	37,2 milhões de famílias dos EUA

Ambientes de escritório e local de trabalho

O KDP atende ambientes corporativos com soluções de bebidas especializadas.

• Office Coffee Service Valor de mercado: US $ 12,3 bilhões em 2023
• Clientes corporativos: mais de 250.000 empresas em todo o país
• Consumo médio de bebidas no local de trabalho: 3,1 xícaras por funcionário diariamente

Millennials e gerações mais jovens

O KDP tem como alvo estrategicamente os consumidores de 25 a 40 anos com ofertas inovadoras de bebidas.

Métrica demográfica	Percentagem
Consumo de K-Cup milenar	48% do total de vendas
Preferência de compra digital	62% frequência de compra online

Consumidores preocupados com a saúde

O KDP responde às tendências crescentes de saúde com linhas de produtos especializadas.

• Crescimento do segmento de bebidas com baixo teor de açúcar: 22% ano a ano
• Vendas de bebidas orgânicas: US $ 4,2 bilhões em 2023
• Participação de mercado de bebidas com zero-calorias: 17,6%

Indivíduos que buscam conveniência

Os segmentos de serviço único e pronto para beber impulsionam o envolvimento do consumidor.

Categoria de conveniência	Desempenho do mercado
Vendas de café com serve única	US $ 8,7 bilhões anualmente
Crescimento de bebidas prontas para beber	14,3% Aumento anual

Keurig Dr Pepper Inc. (KDP) - Modelo de negócios: estrutura de custos

Aquisição de matéria -prima

Em 2023, Keurig Dr. Pepper gastou US $ 4,2 bilhões em custos de matéria -prima. As principais despesas de aquisição incluem:

• Grãos de café: US $ 1,3 bilhão
• Materiais de embalagem: US $ 620 milhões
• Plástico e alumínio para produção de K-Cup: US $ 450 milhões

Categoria de matéria -prima	Custo anual de compras
Grãos de café	US $ 1,3 bilhão
Materiais de embalagem	US $ 620 milhões
Plástico e alumínio	US $ 450 milhões

Despesas de fabricação e produção

Os custos totais de fabricação em 2023 foram de US $ 2,8 bilhões, com o colapso da seguinte forma:

• Trabalho de produção: US $ 680 milhões
• Manutenção de equipamentos: US $ 220 milhões
• Custos operacionais da instalação: US $ 350 milhões

Custos de marketing e publicidade

As despesas de marketing para 2023 totalizaram US $ 535 milhões, incluindo:

• Publicidade digital: US $ 180 milhões
• Publicidade da mídia tradicional: US $ 225 milhões
• Campanhas promocionais: US $ 130 milhões

Investimentos de pesquisa e desenvolvimento

Os gastos com P&D em 2023 atingiram US $ 185 milhões, focados em:

• Nova formulação de bebidas: US $ 85 milhões
• Inovação da embalagem: US $ 55 milhões
• Tecnologia de fabricação de cerveja: US $ 45 milhões

Despesas de distribuição e logística

Os custos de distribuição para 2023 foram de US $ 1,2 bilhão, incluindo:

Categoria de distribuição	Custo anual
Transporte	US $ 680 milhões
Armazenamento	US $ 320 milhões
Gerenciamento de inventário	US $ 200 milhões

Estrutura de custo total para 2023: US $ 8,9 bilhões

Keurig DR Pepper Inc. (KDP) - Modelo de negócios: fluxos de receita

Vendas de máquinas de café com serve único

Em 2022, Keurig Dr. Pepper registrou US $ 12,6 bilhões em vendas líquidas totais. As vendas de máquinas de café de serviço único contribuíram com aproximadamente US $ 750 milhões para esta receita.

Categoria de produto	Volume anual de vendas	Preço médio
Keurig Home Brewing Systems	4,5 milhões de unidades	$129.99
Equipamento de cerveja comercial	85.000 unidades	$499.99

POD K-CUP e vendas de bebidas

As vendas da K-Cup representavam US $ 4,8 bilhões da receita de 2022 do KDP, com aproximadamente 23 bilhões de vagens de K-Cup vendidas anualmente.

Categoria de bebida	Quota de mercado	Volume anual de vendas
PODOS DE CAUSO	75%	17,25 bilhões de unidades
Vagens de chá	12%	2,76 bilhões de unidades
Outras vagens de bebidas	13%	2,99 bilhões de unidades

Distribuição de bebidas por atacado

A distribuição de bebidas por atacado gerou US $ 5,2 bilhões em 2022, cobrindo canais de distribuição nacional e regional.

• Distribuição de refrigerantes: US $ 2,7 bilhões
• Distribuição de água: US $ 1,5 bilhão
• Suco e outras bebidas: US $ 1 bilhão

Licensagem e parcerias de marca

As receitas de licenciamento totalizaram aproximadamente US $ 180 milhões em 2022.

Tipo de parceria	Receita anual
Licenciamento da marca	US $ 95 milhões
Licenciamento de tecnologia	US $ 85 milhões

Modelos de serviço baseados em assinatura

Os serviços de assinatura geraram US $ 62 milhões em 2022, principalmente por meio de programas de entrega de pods de café direto ao consumidor.

• Assinaturas mensais de pods: 385.000 assinantes ativos
• Valor médio da assinatura mensal: $ 35
• Receita recorrente anual de assinaturas: US $ 162,6 milhões

Keurig Dr Pepper Inc. (KDP) - Canvas Business Model: Value Propositions

You're looking at the core reasons customers choose Keurig Dr Pepper Inc. (KDP) over the competition, which is really about convenience, breadth, and brand equity. It's a dual-engine model: the at-home coffee system and the massive CSD/hydration portfolio.

Ultimate beverage convenience via the Keurig single-serve system

The single-serve system offers unmatched speed for the at-home coffee ritual. While K-Cup pod shipments were flat in Q4 2024, the hardware side showed real momentum, with brewer shipments hitting 10.4 million units for the twelve months ending December 31, 2024, marking a 7.3% year-over-year increase. This suggests the installed base continues to grow, locking in future pod sales. To counter margin pressure from inflation and tariffs in the U.S. Coffee segment, the company is pushing premiumization, highlighted by the launch of the Keurig Coffee Collective to capture higher-value consumers. This focus on premiumization is key to offsetting the volume/mix decline of 3.8% seen in the U.S. Coffee segment in Q2 2025, even as net price realization hit 3.6%.

Broad portfolio satisfying nearly every beverage need, anytime, anywhere

Keurig Dr Pepper Inc. provides access to over 125 owned, licensed, and partner brands, aiming to cover nearly every beverage occasion. This breadth is a significant barrier to entry for smaller players. The company's overall revenue in the last twelve months ending September 30, 2025, reached $16.17B, up 6.77% year-over-year, showing the portfolio's scale is driving top-line growth. The U.S. Refreshment Beverages segment, in particular, is firing on all cylinders, delivering net sales of $2.74 billion in Q3 2025, a surge of 14.4% year-over-year. That's the power of a broad, well-distributed portfolio at work.

Here's a look at the scale across key areas as of late 2025:

Category Focus	Metric/Data Point	Value/Amount
Overall Scale (FY 2024)	Annual Net Sales	$15,351 million
Portfolio Breadth	Owned, Licensed, and Partner Brands	Over 125
U.S. Refreshment Beverages (Q3 2025)	Net Sales	$2.74 billion
Energy Segment (Early 2025)	Retail Sales	Well over $1 billion
Employee Base (Late 2025)	Total Employees	29,000

Strong brand loyalty from iconic, heritage soft drink brands

The heritage brands are delivering consistent share gains, which speaks directly to deep consumer trust. Dr Pepper, for example, achieved its eighth consecutive year of market share growth through Q4 2024, capitalizing on cultural moments like the 'dirty soda' phenomenon. This loyalty allows the company to execute pricing actions effectively. In Q2 2025, net price realization in the U.S. Refreshment Beverages segment added 1% to the top line, building on strong volume momentum. You see this brand equity supporting extensions like Canada Dry's Fruit Splash Cherry, which was the number one innovation in the CSD category following its launch.

Rapid hydration and energy solutions through fast-scaling partner brands

Keurig Dr Pepper Inc. is using partnerships and acquisitions to quickly enter high-growth spaces. The energy segment, which was essentially zero share three years prior to 2025, now commands over 6% share at retail, translating to over $1 billion in retail sales as of early 2025. The acquisition of GHOST is a major driver here; it contributed 4.0 percentage points to U.S. Refreshment Beverages volume/mix growth in Q4 2024 and a notable 7.2 percentage points in Q3 2025. The strategy is to use complementary brands like C4, Black Rifle, and Bloom to target distinct consumer cohorts in the performance and wellness spaces.

• GHOST acquisition contribution to Q3 2025 volume/mix: 7.2 percentage points.
• Energy segment retail sales crossed $1 billion early in 2025.
• Electrolit is a key driver in sports hydration momentum.
• The company has a double-digit share goal for the energy category ahead.

Value-driven pricing and innovation across multiple categories

The value proposition isn't just about low price; it's about delivering value through price realization that offsets input costs while maintaining volume resilience. In Q2 2025, the company saw net price realization of 3.6% in U.S. Coffee, which helped offset a volume/mix decline of 3.8%, keeping net sales nearly flat. The overall 2025 constant currency net sales growth guidance was raised to the high-single-digit range in Q3 2025, signaling confidence in their pricing and innovation strategy to drive growth. Innovation isn't limited to CSDs; the company is also launching new coffee flavors and systems, like the Keurig Alta machines planned for 2026, which management aims to market to engage 47 million households.

Finance: draft the Q4 2025 pricing realization impact analysis by next Tuesday.

Keurig Dr Pepper Inc. (KDP) - Canvas Business Model: Customer Relationships

You're looking at how Keurig Dr Pepper Inc. manages its connections with consumers and partners right now, late in 2025, especially with the massive JDE Peet's acquisition and planned separation underway. The relationships are clearly segmented based on the customer type-from the individual coffee brewer to the massive retail chain.

Automated, self-service through Keurig.com and retailer platforms

For the direct-to-consumer relationship, Keurig Dr Pepper Inc. relies heavily on digital, self-service channels. The primary hub for this interaction remains Keurig Dr Pepper's corporate website, www.keurigdrpepper.com, which serves as the gateway for investor information and likely directs consumers to the appropriate e-commerce portals. The expectation is that the vast majority of single-serve coffee system users manage their pod replenishment and machine maintenance through automated online tools provided by Keurig.com or through the digital storefronts of major retailers.

While specific Q3 2025 direct-to-consumer revenue percentages aren't public, the focus on digital engagement is clear in forward-looking plans. For example, the strategy to support the 2026 Keurig Alta machine rollout involves using AI-driven targeting to engage 47 million households, showing a deep commitment to personalized digital outreach, which is the foundation of modern self-service relationship management.

Dedicated sales and account management for large retailers and bottlers

The relationship with major partners-the large retailers and the bottlers who distribute the soft drink portfolio-is managed through high-touch, dedicated account management. This is not a self-service model; it requires deep integration, especially given the scale of recent corporate activity. The pending $18 billion acquisition of JDE Peet's underscores the complexity and importance of these relationships, as integration and synergy realization depend on flawless execution at the partner level. These teams manage everything from shelf placement and promotional calendars to complex supply chain logistics for both the coffee and cold beverage segments.

The operational readiness for the planned separation by the end of 2026 means that account management teams are currently engaged in significant planning to ensure continuity for partners across the future 'Global Coffee Co.' and 'Beverage Co.' entities. This requires managing expectations around future supply agreements and capital structures.

Brand-specific marketing and innovation

Customer relationships are also forged through product excitement, driven by brand-specific marketing and innovation. The launch of Dr Pepper Blackberry in early 2025 is a prime example of responding directly to consumer flavor trends. This launch was timed because recent Circana data showed that blackberry-flavored carbonated soft drinks (CSDs) were growing more than 2x faster than the overall CSD category in dollar sales the prior year. This flavor is a permanent addition, the first for the core Dr Pepper brand since Dr Pepper Strawberries & Cream in 2023.

The focus on innovation extends to the coffee side, with the U.S. Coffee President expressing excitement about an upcoming Keurig marketing campaign launching in Q4 2025. This shows a continuous effort to refresh the relationship with the single-serve consumer.

Here's a look at the innovation context:

Innovation/Flavor	Launch Timing	Category Trend Context	Availability
Dr Pepper Blackberry	Early 2025	Blackberry CSDs growing >2x category rate	Nationwide (Regular and Zero Sugar)
Dr Pepper Creamy Coconut	2024 (LTO)	Company's most successful limited-time offering to date	Limited Time Offer (LTO)
Canada Dry Fruit Splash Cherry	2024	Top-performing CSD flavor innovation of 2024	Nationwide

Investor relations and communication regarding the planned separation

The relationship with the investment community is currently dominated by the planned separation into two independent companies, which Keurig Dr Pepper Inc. anticipates being operationally ready to complete by the end of 2026. This communication strategy is highly structured and data-driven.

Key relationship milestones and data points shared with investors as of late 2025 include:

• The hosting of a major investor update on October 27, 2025, to detail the JDE Peet's acquisition strategy.
• The announcement of two new strategic investment agreements totaling $7B to finance the acquisition.
• A $4B investment in a newly formed K-Cup pod and single-serve manufacturing joint venture, where Keurig Dr Pepper Inc. retains a controlling interest.
• A definitive agreement for a $3B convertible preferred stock investment, with an initial conversion price of $37.25 per share.
• Targeted net leverage ratios upon separation: approximately 3.5-4.0x for the future Beverage Co. and 3.75-4.25x for Global Coffee Co.
• The confirmation that CEO Tim Cofer will lead the Beverage Co. post-separation, while an internal and external search is underway for the CEO of Global Coffee Co.

The company's Q3 2025 results, released on October 27, 2025, showed consolidated net sales of $4.3 billion, with U.S. Refreshment Beverages leading growth at a 14.4% increase in net sales to $2.7 billion. This performance helps build confidence with investors as the company navigates the transformation. Finance: draft 13-week cash view by Friday.

Keurig Dr Pepper Inc. (KDP) - Canvas Business Model: Channels

You're looking at how Keurig Dr Pepper Inc. gets its products-from Dr Pepper to K-Cups-into the hands of consumers and businesses as of late 2025. The company uses a highly differentiated, multi-channel approach, which is a key asset, especially as they navigate the planned separation into two pure-play companies.

The primary distribution backbone for Keurig Dr Pepper Inc. remains the traditional retail environment, covering supermarkets, mass merchandisers, and club stores. This is evident in the segment performance, where the U.S. Refreshment Beverages segment, which heavily relies on these channels, posted net sales of $2.74 billion in the third quarter of 2025, growing 14.4% year-over-year. The U.S. Coffee segment, driven by K-Cup pods, also relies heavily on these retail outlets and recorded net sales of $991 million in Q3 2025. Overall, the trailing twelve months revenue ending September 30, 2025, stood at $16.174B.

The scale of the core channels as reflected in the Q3 2025 segment performance is detailed below. Remember, these segments capture the revenue generated across all routes to market, but retail grocery and mass merchandisers are the largest component:

Channel Grouping (Inferred from Segment)	Q3 2025 Net Sales (Reported)	Year-over-Year Growth (Q3 2025)	Key Driver/Note
U.S. Refreshment Beverages (Primarily Retail/Mass)	$2.74 billion	14.4%	Volume/mix up 11.2%, including 7.2 percentage points from GHOST acquisition.
U.S. Coffee (Primarily Retail/Mass)	$991 million	1.5%	Pricing actions offset a 4.0% volume/mix decline in pods/brewers.
International (Mixed Channels)	$580 million	10.5%	Led by favorable net price realization of 6.1%.

The company-owned and independent Direct-Store-Delivery (DSD) system is described as a scarce and critical asset, providing demand responsiveness and deeper customer relationships. Keurig Dr Pepper Inc. touts itself as one of only 3 national non-alcoholic DSD systems in the US. The company has actively invested in this route to market, including a planned investment of up to $250 million starting in mid-2025 to integrate the GHOST brand into its DSD network.

The DSD footprint statistics as of the late 2025 Investor Day presentation include:

• U.S. coverage reaching ~80%.
• Mexico coverage at ~50%.
• Servicing approximately 180,000 Cold Drink Placements.

E-commerce platforms, including Amazon and Walmart.com, alongside the direct-to-consumer Keurig.com website, form another vital channel. Keurig Dr Pepper Inc. markets and sells products to 'pure-play e-commerce retailers'. While the overall K-Cup pod shipments were flat in the full year 2024, the company continues to leverage digital channels for direct consumer engagement and sales, which is a key component of its Omni-Channel Activation strategy.

The Away-from-home channels are served through sales to offices, foodservice locations, and hotel chains. The company markets and sells products to these outlets, alongside office product and coffee distributors. This channel is explicitly included in the strategy for the combined refreshment beverage and coffee businesses post-JDE Peet's integration, covering all major away-from-home channels where coffee is consumed.

Keurig Dr Pepper Inc. (KDP) - Canvas Business Model: Customer Segments

You're looking at the diverse groups Keurig Dr Pepper Inc. (KDP) serves, which is key to understanding their revenue engine as of late 2025. The business model clearly segments its market to maximize penetration across different consumption occasions and channels.

At-Home Consumers: Single-serve coffee and cold beverage purchasers

This group primarily drives the U.S. Coffee segment, centered on the Keurig system. While the overall U.S. Coffee segment saw net sales decline by 3.7% in the first quarter of 2025, this was largely due to a volume/mix decrease of 5.2%, partially offset by pricing actions. For context, K-Cup Pods revenue in the full year 2024 was $3.61 billion. The performance here is sensitive to commodity costs and pricing strategy, as seen by the segment's Q1 2025 performance.

Retailers/Wholesalers: Grocery, mass, and convenience store chains

This segment is served through the massive distribution network supporting the Liquid Refreshment Beverages (LRB) portfolio, which represented 68.83% of total revenue in fiscal year 2024 at $10.57 billion. The U.S. Refreshment Beverages segment showed strong momentum, with net sales increasing by 11.0% to reach $2.3 billion in the first quarter of 2025. This growth was fueled by an 8.0% rise in volume/mix. Legacy brands like Dr Pepper achieved their eighth consecutive year of market share growth, capitalizing on cultural trends.

The core customer base here is the retail channel, which is quantified by the segment's overall sales performance. Here is a look at the scale of the major revenue-driving segments based on the last full fiscal year data and recent growth:

Customer-Facing Segment	Implied KDP Segment	FY 2024 Revenue (Approximate)	Q1 2025 Net Sales Growth
At-Home Coffee Purchasers	U.S. Coffee	N/A (K-Cup Pods: $3.61 B in FY 2024)	-3.7%
Mass Retail & Convenience Chains (CSDs/Brands)	U.S. Refreshment Beverages (Core)	N/A (LRB: $10.57 B in FY 2024)	+11.0%
International Retailers	International	$0.4 billion (Q1 2025 Sales)	+5.4% (Constant Currency)

Away-from-Home (OOH) Customers: Offices and hospitality venues

While Keurig Dr Pepper Inc. does not typically break out OOH revenue as a standalone segment in public filings, this customer group is served through both the single-serve coffee systems and the cold beverage portfolio. The company has been enhancing its route-to-market capabilities, including adding distribution rights in parts of California and the Midwest, which directly supports OOH service efficiency. The overall strength in the core CSD brands and coffee systems supports this channel.

International Consumers: Focus on Mexico and Canada markets

International business showed resilience, with net sales decreasing by 6.3% to $0.4 billion in Q1 2025, primarily due to foreign exchange translation. However, on a constant currency basis, net sales actually increased by 5.4%. Performance was specifically noted as strong in refreshment beverages across Canada and Mexico, with mineral water in Mexico and single-serve coffee in Canada leading the way in Q3 2025.

Health/Energy Drink Consumers: Targeted via GHOST and Electrolit brands

This is a high-growth focus area, with the energy portfolio growing from nearly zero share a few years prior to achieving over 6% share, representing well over $1 billion in retail sales (as of early 2025). The energy drinks category contributed 6.4% constant currency net sales growth in Q1 2025. The company expects to achieve a double-digit share goal in the years ahead.

Key contributors to this segment's growth include:

• GHOST Energy: Full distribution integration was completed, with the acquisition contributing 4.0 percentage points to volume/mix growth in Q2 2025 and 4.4 percentage points in Q3 2025.
• Electrolit: This sports hydration brand posted over 30% retail sales growth in Q2 2025 due to distribution expansion.
• Overall Energy Portfolio: Now represents over $1 billion in annual run-rate sales as of Q2 2025.

Finance: draft 13-week cash view by Friday.

Keurig Dr Pepper Inc. (KDP) - Canvas Business Model: Cost Structure

When you look at Keurig Dr Pepper Inc.'s (KDP) cost structure, you're looking at the price of running a massive, dual-engine beverage operation-one for single-serve coffee and one for traditional cold beverages. The costs are substantial, reflecting the scale of manufacturing, the complexity of the distribution network, and the need for heavy brand support.

Commodity Costs and Cost of Goods Sold

Your biggest variable cost is definitely the Cost of Goods Sold (COGS). This is where commodity inflation bites hardest, especially with green coffee beans. For the twelve months ending September 30, 2025, the Cost of Sales was reported at approximately $1.97B for that quarter alone. You know that the U.S. Coffee segment has to manage through impacts from higher commodity inflation, including green coffee costs, even with hedging in place. The company has been using net price realization and productivity savings to offset these pressures, but it remains a significant headwind for the remainder of 2025.

Distribution and Logistics

Next up are the costs tied to getting product to shelf. Keurig Dr Pepper Inc. relies heavily on its Direct Store Delivery (DSD) network for a large portion of its cold beverages. This network is an asset, giving you incredible route-to-market control, but it's inherently expensive to maintain-think fleet costs, driver wages, and route density management. While I don't have a specific DSD line item for late 2025, you can see the pressure on operating income in segments where cost management is critical. The company's overall operational excellence focus is aimed at keeping these fixed and variable logistics costs in check relative to sales growth.

Selling, General, and Administrative (SG&A) Expenses

Marketing, selling, and general administrative (SG&A) expenses represent the overhead required to run a national brand portfolio. For the twelve months ending September 30, 2025, KDP's SG&A expenses hit $5.189B. This is up from $5.013B for the full year 2024. You can see that even with an enhanced overhead efficiency mindset, SG&A still grows as the company funds higher marketing investment to support brand momentum, particularly in the U.S. Refreshment Beverages segment.

Financing Costs: Interest Expense

The cost of carrying debt is a fixed, non-operational expense that you must account for. While you projected around $700 million for the full year 2025, the quarterly data suggests the run rate might be higher or at least volatile. For the fiscal quarter ending September 2025, the Interest Expense on Debt was reported at $188 million. This compares to a figure of €-160 Mil for the same quarter using Euro reporting. This expense is a direct result of the company's capital structure and debt levels.

Capital Investment in Technology and Manufacturing

To support future revenue, Keurig Dr Pepper Inc. must spend on its physical assets. Capital expenditures (CapEx) are necessary for maintaining and upgrading manufacturing capabilities and advancing brewer technology. The latest concrete figure we have is for Fiscal Year 2024, where capital expenditures amounted to $563 million, focused primarily on manufacturing capabilities. You should anticipate similar, if not higher, spending in 2025, especially given the ongoing work on next-generation systems like the Keurig Alta brewer, which requires investment in new pod technology and production lines.

Here's a quick look at some of the key reported cost components near the end of 2025:

Cost Component	Latest Reported Value	Period End Date
SG&A Expenses (TTM)	$5.189B	September 30, 2025
Interest Expense (Quarterly)	$188M	September 2025
Cost of Sales (Quarterly)	$1.97B	September 2025
FY 2024 Capital Expenditures	$563 million	December 31, 2024

The main drivers pushing up the overall cost base for Keurig Dr Pepper Inc. include:

• Green Coffee Price Volatility: Direct impact on U.S. Coffee COGS.
• Tariffs and Input Costs: Rising costs impacting the supply chain generally.
• Marketing Investment: Funding to drive share gains in CSDs and energy.
• DSD Network Maintenance: High fixed and variable costs for route-to-market execution.
• Debt Servicing: The ongoing interest expense on outstanding debt obligations.

If onboarding the new brewer technology takes longer than the targeted late 2026 launch, you could see capital spending shift or efficiency gains delayed, defintely impacting future cost structures.

Finance: draft 13-week cash view by Friday.

Keurig Dr Pepper Inc. (KDP) - Canvas Business Model: Revenue Streams

You're looking at the core ways Keurig Dr Pepper Inc. (KDP) brings in cash as of late 2025. The revenue streams are clearly segmented across their major business units, which helps you map where the money is actually coming from.

The consolidated top-line performance for the third quarter of 2025 was strong, with Net Sales reaching $4.3 billion. Looking ahead, management has guided the full-year 2025 constant currency net sales growth to a high-single-digit range, signaling continued momentum from the first nine months of the year.

The revenue generation is split across three main areas, with the U.S. business being the dominant driver. For the full fiscal year 2025, the U.S. segment is projected to account for approximately $14 billion, which is about 86% of the total estimated revenue of $16 billion.

Here is a breakdown of the Q3 2025 segment net sales, which shows the relative size of each revenue stream:

Revenue Stream Segment	Q3 2025 Net Sales (in millions)	Reported % Change vs. Prior Year
U.S. Refreshment Beverages	$2,735	+14.4%
U.S. Coffee	$991	+1.5%
International	$580	+10.5%

Sales of single-serve pods (K-Cups) and brewers fall under the U.S. Coffee segment. While the segment saw overall net sales growth of 1.5% in Q3 2025, this was driven by a 5.5% net price realization, as the volume/mix actually declined by 4.0%. This volume pressure suggests that while the installed base for brewers is strong, the shipment of new brewers and pods faced some headwinds that quarter.

The sales of carbonated soft drinks (CSDs) and non-carbonated beverages are the engine of the U.S. Refreshment Beverages segment. This segment delivered robust growth, with net sales climbing 14.4% to $2.73 billion in Q3 2025. This was fueled by a strong volume/mix increase of 11.2%, reflecting market share gains in CSDs, energy, and sports hydration, partly due to the GHOST acquisition contribution.

International sales are an increasingly significant part of the revenue picture, with Q3 2025 net sales reaching $0.58 billion, a 10.5% reported increase. This international stream is led by specific product categories in key markets:

• Mineral water in Mexico, with brands like Peñafiel.
• Coffee sales in Canada, where KDP maintains a strong position in single-serve coffee.

The International segment saw constant currency net sales growth of 10.1% in Q3 2025, driven by a 6.1% net price realization and 4.0% volume/mix growth. Honestly, the international performance shows that category-specific strength can offset broader market pressures.

For the full year 2025, the International segment is expected to contribute around $2.2 billion, making up the remaining 14% of total projected revenue. The CEO noted that the company is focused on sustaining the base business while preparing for a transformation, which involves integrating JDE Peet's and then separating into two pure-play companies. That planned separation definitely impacts how you should view these revenue streams going into 2026.

Finance: draft 13-week cash view by Friday.