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Side-by-side financial comparison of Expand Energy (EXE) and Keurig Dr Pepper (KDP). Click either name above to swap in a different company.
Keurig Dr Pepper is the larger business by last-quarter revenue ($4.0B vs $3.3B, roughly 1.2× Expand Energy). Expand Energy runs the higher net margin — 16.9% vs 6.8%, a 10.1% gap on every dollar of revenue. On growth, Expand Energy posted the faster year-over-year revenue change (63.5% vs 9.4%). Expand Energy produced more free cash flow last quarter ($215.0M vs $184.0M). Over the past eight quarters, Expand Energy's revenue compounded faster (29.6% CAGR vs 0.7%).
Expand Energy Corporation is the largest independent natural gas producer in the U.S., based on net daily production. Headquartered in Oklahoma City, the company operates in the Appalachian Basin of the Marcellus Formation in Pennsylvania and West Virginia, as well as the Haynesville Shale in Northwestern Louisiana.
Keurig Dr Pepper Inc. is a publicly traded American beverage and coffeemaker conglomerate with headquarters located in Burlington, Massachusetts, and Frisco, Texas. Formed in July 2018, with the merger of Keurig Green Mountain and Dr Pepper Snapple Group, Keurig Dr Pepper produces and distributes more than 125 hot and cold beverages. The company's Canadian business unit subsidiary operates as Keurig Dr Pepper Canada.
EXE vs KDP — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $3.3B | $4.0B |
| Net Profit | $553.0M | $270.0M |
| Gross Margin | — | 52.8% |
| Operating Margin | 22.8% | 19.0% |
| Net Margin | 16.9% | 6.8% |
| Revenue YoY | 63.5% | 9.4% |
| Net Profit YoY | 238.6% | -47.8% |
| EPS (diluted) | $2.33 | $0.20 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q1 26 | — | $4.0B | ||
| Q4 25 | $3.3B | $4.5B | ||
| Q3 25 | $3.0B | $4.3B | ||
| Q2 25 | $3.7B | $4.2B | ||
| Q1 25 | $2.2B | $3.6B | ||
| Q4 24 | $2.0B | $4.1B | ||
| Q3 24 | $648.0M | $3.9B | ||
| Q2 24 | — | $3.9B |
| Q1 26 | — | $270.0M | ||
| Q4 25 | $553.0M | $353.0M | ||
| Q3 25 | $547.0M | $662.0M | ||
| Q2 25 | $968.0M | $547.0M | ||
| Q1 25 | $-249.0M | $517.0M | ||
| Q4 24 | $-399.0M | $-144.0M | ||
| Q3 24 | $-114.0M | $616.0M | ||
| Q2 24 | — | $515.0M |
| Q1 26 | — | 52.8% | ||
| Q4 25 | — | 53.8% | ||
| Q3 25 | — | 54.3% | ||
| Q2 25 | — | 54.2% | ||
| Q1 25 | — | 54.6% | ||
| Q4 24 | — | 55.9% | ||
| Q3 24 | — | 55.0% | ||
| Q2 24 | — | 55.4% |
| Q1 26 | — | 19.0% | ||
| Q4 25 | 22.8% | 19.6% | ||
| Q3 25 | 24.4% | 23.1% | ||
| Q2 25 | 34.4% | 21.6% | ||
| Q1 25 | -12.2% | 22.0% | ||
| Q4 24 | -19.3% | 1.5% | ||
| Q3 24 | -23.9% | 23.2% | ||
| Q2 24 | — | 22.0% |
| Q1 26 | — | 6.8% | ||
| Q4 25 | 16.9% | 7.8% | ||
| Q3 25 | 18.4% | 15.4% | ||
| Q2 25 | 26.2% | 13.1% | ||
| Q1 25 | -11.3% | 14.2% | ||
| Q4 24 | -19.9% | -3.5% | ||
| Q3 24 | -17.6% | 15.8% | ||
| Q2 24 | — | 13.1% |
| Q1 26 | — | $0.20 | ||
| Q4 25 | $2.33 | $0.26 | ||
| Q3 25 | $2.28 | $0.49 | ||
| Q2 25 | $4.02 | $0.40 | ||
| Q1 25 | $-1.06 | $0.38 | ||
| Q4 24 | $-2.15 | $-0.11 | ||
| Q3 24 | $-0.85 | $0.45 | ||
| Q2 24 | — | $0.38 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $616.0M | $898.0M |
| Total DebtLower is stronger | $5.0B | — |
| Stockholders' EquityBook value | $18.6B | $25.3B |
| Total Assets | $28.3B | $73.1B |
| Debt / EquityLower = less leverage | 0.27× | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $898.0M | ||
| Q4 25 | $616.0M | $1.0B | ||
| Q3 25 | $613.0M | $516.0M | ||
| Q2 25 | $731.0M | $509.0M | ||
| Q1 25 | $349.0M | $653.0M | ||
| Q4 24 | $317.0M | $510.0M | ||
| Q3 24 | $1.0B | $552.0M | ||
| Q2 24 | — | $438.0M |
| Q1 26 | — | — | ||
| Q4 25 | $5.0B | — | ||
| Q3 25 | $5.0B | — | ||
| Q2 25 | $5.1B | — | ||
| Q1 25 | $5.2B | — | ||
| Q4 24 | $5.7B | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
| Q1 26 | — | $25.3B | ||
| Q4 25 | $18.6B | $25.5B | ||
| Q3 25 | $18.1B | $25.3B | ||
| Q2 25 | $17.9B | $25.0B | ||
| Q1 25 | $17.2B | $24.4B | ||
| Q4 24 | $17.6B | $24.2B | ||
| Q3 24 | $10.2B | $25.0B | ||
| Q2 24 | — | $24.7B |
| Q1 26 | — | $73.1B | ||
| Q4 25 | $28.3B | $55.5B | ||
| Q3 25 | $27.6B | $54.6B | ||
| Q2 25 | $27.8B | $54.4B | ||
| Q1 25 | $27.9B | $53.7B | ||
| Q4 24 | $27.9B | $53.4B | ||
| Q3 24 | $13.4B | $52.7B | ||
| Q2 24 | — | $52.3B |
| Q1 26 | — | — | ||
| Q4 25 | 0.27× | — | ||
| Q3 25 | 0.28× | — | ||
| Q2 25 | 0.29× | — | ||
| Q1 25 | 0.30× | — | ||
| Q4 24 | 0.32× | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $956.0M | $281.0M |
| Free Cash FlowOCF − Capex | $215.0M | $184.0M |
| FCF MarginFCF / Revenue | 6.6% | 4.6% |
| Capex IntensityCapex / Revenue | 22.6% | — |
| Cash ConversionOCF / Net Profit | 1.73× | 1.04× |
| TTM Free Cash FlowTrailing 4 quarters | $1.8B | $1.6B |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $281.0M | ||
| Q4 25 | $956.0M | $712.0M | ||
| Q3 25 | $1.2B | $639.0M | ||
| Q2 25 | $1.3B | $431.0M | ||
| Q1 25 | $1.1B | $209.0M | ||
| Q4 24 | $382.0M | $849.0M | ||
| Q3 24 | $422.0M | $628.0M | ||
| Q2 24 | — | $657.0M |
| Q1 26 | — | $184.0M | ||
| Q4 25 | $215.0M | $564.0M | ||
| Q3 25 | $426.0M | $527.0M | ||
| Q2 25 | $665.0M | $325.0M | ||
| Q1 25 | $533.0M | $89.0M | ||
| Q4 24 | $-154.0M | $684.0M | ||
| Q3 24 | $124.0M | $503.0M | ||
| Q2 24 | — | $542.0M |
| Q1 26 | — | 4.6% | ||
| Q4 25 | 6.6% | 12.5% | ||
| Q3 25 | 14.4% | 12.2% | ||
| Q2 25 | 18.0% | 7.8% | ||
| Q1 25 | 24.3% | 2.4% | ||
| Q4 24 | -7.7% | 16.8% | ||
| Q3 24 | 19.1% | 12.9% | ||
| Q2 24 | — | 13.8% |
| Q1 26 | — | — | ||
| Q4 25 | 22.6% | 3.3% | ||
| Q3 25 | 26.1% | 2.6% | ||
| Q2 25 | 17.8% | 2.5% | ||
| Q1 25 | 25.6% | 3.3% | ||
| Q4 24 | 26.8% | 4.1% | ||
| Q3 24 | 46.0% | 3.2% | ||
| Q2 24 | — | 2.9% |
| Q1 26 | — | 1.04× | ||
| Q4 25 | 1.73× | 2.02× | ||
| Q3 25 | 2.20× | 0.97× | ||
| Q2 25 | 1.37× | 0.79× | ||
| Q1 25 | — | 0.40× | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 1.02× | ||
| Q2 24 | — | 1.28× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
EXE
| Oil And Gas | $2.3B | 70% |
| Natural Gas Marketing Sales | $734.0M | 22% |
| Natural Gas Liquids Sales | $174.0M | 5% |
| Natural Gas Liquids Marketing Sales | $34.0M | 1% |
| Oil Marketing Sales | $31.0M | 1% |
KDP
| U.S. Refreshment Beverages | $2.6B | 65% |
| U.S. Coffee | $857.0M | 22% |
| International | $520.0M | 13% |
