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Keurig Dr Pepper（KDP）与PPL Corporation（PPL）财务数据对比。点击上方公司名可切换其他公司
Keurig Dr Pepper的季度营收约是PPL Corporation的1.7倍（$4.0B vs $2.3B），PPL Corporation净利率更高（11.3% vs 6.8%，领先4.5%），Keurig Dr Pepper同比增速更快（9.4% vs 7.2%），Keurig Dr Pepper自由现金流更多（$184.0M vs $-614.0M），过去两年PPL Corporation的营收复合增速更高（1.0% vs 0.7%）
Keurig Dr Pepper是美国上市的饮品与咖啡机综合企业，2018年由克里格绿山和胡椒博士斯奈普集团合并成立，在马萨诸塞州伯灵顿及得克萨斯州弗里斯科设有双总部，旗下拥有超125款冷热饮品，加拿大区域业务由当地子公司负责运营。
PPL公司是总部位于美国宾夕法尼亚州的能源公用事业控股企业，为宾州、肯塔基州、罗德岛州约350万居民及工商业用户提供电力与天然气供应服务，核心业务方向包括电网现代化升级、清洁能源转型、高可靠性可持续能源服务供给。
KDP vs PPL — 直观对比
营收规模更大
KDP
是对方的1.7倍
$2.3B
营收增速更快
KDP
高出2.2%
7.2%
净利率更高
PPL
高出4.5%
6.8%
自由现金流更多
KDP
多$798.0M
$-614.0M
两年增速更快
PPL
近两年复合增速
0.7%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $4.0B | $2.3B |
| 净利润 | $270.0M | $266.0M |
| 毛利率 | 52.8% | — |
| 营业利润率 | 19.0% | 20.3% |
| 净利率 | 6.8% | 11.3% |
| 营收同比 | 9.4% | 7.2% |
| 净利润同比 | -47.8% | 50.3% |
| 每股收益（稀释后） | $0.20 | $0.35 |
绿色 = 该指标领先。财年不对齐时期间可能不同
8季度营收与利润趋势
并排季度历史对比，按日历期对齐，财年错位的公司也能正确匹配
营收KDPPPL
| Q1 26 | $4.0B | — | ||
| Q4 25 | $4.5B | $2.3B | ||
| Q3 25 | $4.3B | $2.2B | ||
| Q2 25 | $4.2B | $2.0B | ||
| Q1 25 | $3.6B | $2.5B | ||
| Q4 24 | $4.1B | $2.2B | ||
| Q3 24 | $3.9B | $2.1B | ||
| Q2 24 | $3.9B | $1.9B |
净利润KDPPPL
| Q1 26 | $270.0M | — | ||
| Q4 25 | $353.0M | $266.0M | ||
| Q3 25 | $662.0M | $318.0M | ||
| Q2 25 | $547.0M | $183.0M | ||
| Q1 25 | $517.0M | $414.0M | ||
| Q4 24 | $-144.0M | $177.0M | ||
| Q3 24 | $616.0M | $214.0M | ||
| Q2 24 | $515.0M | $190.0M |
毛利率KDPPPL
| 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% | — |
营业利润率KDPPPL
| Q1 26 | 19.0% | — | ||
| Q4 25 | 19.6% | 20.3% | ||
| Q3 25 | 23.1% | 25.4% | ||
| Q2 25 | 21.6% | 19.9% | ||
| Q1 25 | 22.0% | 26.6% | ||
| Q4 24 | 1.5% | 17.2% | ||
| Q3 24 | 23.2% | 20.6% | ||
| Q2 24 | 22.0% | 20.8% |
净利率KDPPPL
| Q1 26 | 6.8% | — | ||
| Q4 25 | 7.8% | 11.3% | ||
| Q3 25 | 15.4% | 14.2% | ||
| Q2 25 | 13.1% | 9.0% | ||
| Q1 25 | 14.2% | 16.3% | ||
| Q4 24 | -3.5% | 8.1% | ||
| Q3 24 | 15.8% | 10.3% | ||
| Q2 24 | 13.1% | 10.1% |
每股收益（稀释后）KDPPPL
| Q1 26 | $0.20 | — | ||
| Q4 25 | $0.26 | $0.35 | ||
| Q3 25 | $0.49 | $0.43 | ||
| Q2 25 | $0.40 | $0.25 | ||
| Q1 25 | $0.38 | $0.56 | ||
| Q4 24 | $-0.11 | $0.23 | ||
| Q3 24 | $0.45 | $0.29 | ||
| Q2 24 | $0.38 | $0.26 |
资产负债表与财务实力
最新季度各公司的流动性、杠杆与账面价值一览
| 指标 | | |
|---|---|---|
| 现金及短期投资手头流动性 | $898.0M | $1.1B |
| 总债务越低越好 | — | $18.9B |
| 股东权益账面价值 | $25.3B | $14.9B |
| 总资产 | $73.1B | $45.2B |
| 负债/权益比越低杠杆越低 | — | 1.27× |
8季度趋势，按日历期对齐
现金及短期投资KDPPPL
| Q1 26 | $898.0M | — | ||
| Q4 25 | $1.0B | $1.1B | ||
| Q3 25 | $516.0M | $1.1B | ||
| Q2 25 | $509.0M | $294.0M | ||
| Q1 25 | $653.0M | $312.0M | ||
| Q4 24 | $510.0M | $306.0M | ||
| Q3 24 | $552.0M | $542.0M | ||
| Q2 24 | $438.0M | $282.0M |
总债务KDPPPL
| Q1 26 | — | — | ||
| Q4 25 | — | $18.9B | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | $16.5B | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
股东权益KDPPPL
| Q1 26 | $25.3B | — | ||
| Q4 25 | $25.5B | $14.9B | ||
| Q3 25 | $25.3B | $14.4B | ||
| Q2 25 | $25.0B | $14.3B | ||
| Q1 25 | $24.4B | $14.3B | ||
| Q4 24 | $24.2B | $14.1B | ||
| Q3 24 | $25.0B | $14.1B | ||
| Q2 24 | $24.7B | $14.1B |
总资产KDPPPL
| Q1 26 | $73.1B | — | ||
| Q4 25 | $55.5B | $45.2B | ||
| Q3 25 | $54.6B | $43.9B | ||
| Q2 25 | $54.4B | $42.4B | ||
| Q1 25 | $53.7B | $41.8B | ||
| Q4 24 | $53.4B | $41.1B | ||
| Q3 24 | $52.7B | $40.5B | ||
| Q2 24 | $52.3B | $39.8B |
负债/权益比KDPPPL
| Q1 26 | — | — | ||
| Q4 25 | — | 1.27× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 1.17× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
现金流与资本效率
扣除再投资后实际产生的现金。现金流比净利润更难造假
| 指标 | | |
|---|---|---|
| 经营现金流最新季度 | $281.0M | $548.0M |
| 自由现金流经营现金流 - 资本支出 | $184.0M | $-614.0M |
| 自由现金流率自由现金流/营收 | 4.6% | -26.1% |
| 资本支出强度资本支出/营收 | — | 49.5% |
| 现金转化率经营现金流/净利润 | 1.04× | 2.06× |
| 过去12个月自由现金流最近4个季度 | $1.6B | $-1.4B |
8季度趋势，按日历期对齐
经营现金流KDPPPL
| Q1 26 | $281.0M | — | ||
| Q4 25 | $712.0M | $548.0M | ||
| Q3 25 | $639.0M | $966.0M | ||
| Q2 25 | $431.0M | $602.0M | ||
| Q1 25 | $209.0M | $513.0M | ||
| Q4 24 | $849.0M | $511.0M | ||
| Q3 24 | $628.0M | $781.0M | ||
| Q2 24 | $657.0M | $766.0M |
自由现金流KDPPPL
| Q1 26 | $184.0M | — | ||
| Q4 25 | $564.0M | $-614.0M | ||
| Q3 25 | $527.0M | $-179.0M | ||
| Q2 25 | $325.0M | $-328.0M | ||
| Q1 25 | $89.0M | $-280.0M | ||
| Q4 24 | $684.0M | $-349.0M | ||
| Q3 24 | $503.0M | $102.0M | ||
| Q2 24 | $542.0M | $96.0M |
自由现金流率KDPPPL
| Q1 26 | 4.6% | — | ||
| Q4 25 | 12.5% | -26.1% | ||
| Q3 25 | 12.2% | -8.0% | ||
| Q2 25 | 7.8% | -16.1% | ||
| Q1 25 | 2.4% | -11.0% | ||
| Q4 24 | 16.8% | -15.9% | ||
| Q3 24 | 12.9% | 4.9% | ||
| Q2 24 | 13.8% | 5.1% |
资本支出强度KDPPPL
| Q1 26 | — | — | ||
| Q4 25 | 3.3% | 49.5% | ||
| Q3 25 | 2.6% | 51.2% | ||
| Q2 25 | 2.5% | 45.6% | ||
| Q1 25 | 3.3% | 31.2% | ||
| Q4 24 | 4.1% | 39.3% | ||
| Q3 24 | 3.2% | 32.7% | ||
| Q2 24 | 2.9% | 35.8% |
现金转化率KDPPPL
| Q1 26 | 1.04× | — | ||
| Q4 25 | 2.02× | 2.06× | ||
| Q3 25 | 0.97× | 3.04× | ||
| Q2 25 | 0.79× | 3.29× | ||
| Q1 25 | 0.40× | 1.24× | ||
| Q4 24 | — | 2.89× | ||
| Q3 24 | 1.02× | 3.65× | ||
| Q2 24 | 1.28× | 4.03× |
财务流量对比
营收 → 毛利润 → 营业利润 → 净利润流向图
业务分部营收拆解
KDP
| U.S. Refreshment Beverages | $2.6B | 65% |
| U.S. Coffee | $857.0M | 22% |
| International | $520.0M | 13% |
PPL
| Rhode Island Regulated | $539.0M | 23% |
| Other | $532.0M | 23% |
| Residential | $451.0M | 19% |
| Nonrelated Party | $425.0M | 18% |
| Transmission | $228.0M | 10% |
| Commercial | $117.0M | 5% |
| Wholesale Other | $23.0M | 1% |
| Industrial | $14.0M | 1% |
| Related Party | $13.0M | 1% |
| Wholesale Municipal | $6.0M | 0% |
