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Keurig Dr Pepper（KDP）与摩森康胜饮品公司（TAP）财务数据对比。点击上方公司名可切换其他公司
Keurig Dr Pepper的季度营收约是摩森康胜饮品公司的1.3倍（$4.0B vs $3.1B），摩森康胜饮品公司净利率更高（7.6% vs 6.8%，领先0.8%），Keurig Dr Pepper同比增速更快（9.4% vs -3.6%），摩森康胜饮品公司自由现金流更多（$357.8M vs $184.0M），过去两年摩森康胜饮品公司的营收复合增速更高（1.2% 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。
摩森康胜饮品公司是一家美加合资的跨国饮料酿造企业，旗下拥有多款知名酒精及非酒精饮品产品线，业务覆盖全球多个国家和地区，目前在伊利诺伊州芝加哥与魁北克省蒙特利尔设有双总部。
KDP vs TAP — 直观对比
营收规模更大
KDP
是对方的1.3倍
$3.1B
营收增速更快
KDP
高出13.0%
-3.6%
净利率更高
TAP
高出0.8%
6.8%
自由现金流更多
TAP
多$173.8M
$184.0M
两年增速更快
TAP
近两年复合增速
0.7%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $4.0B | $3.1B |
| 净利润 | $270.0M | $238.3M |
| 毛利率 | 52.8% | 31.0% |
| 营业利润率 | 19.0% | 10.4% |
| 净利率 | 6.8% | 7.6% |
| 营收同比 | 9.4% | -3.6% |
| 净利润同比 | -47.8% | -17.2% |
| 每股收益（稀释后） | $0.20 | $1.32 |
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KDPTAP
| Q1 26 | $4.0B | — | ||
| Q4 25 | $4.5B | $3.1B | ||
| Q3 25 | $4.3B | $3.5B | ||
| Q2 25 | $4.2B | $3.7B | ||
| Q1 25 | $3.6B | $2.7B | ||
| Q4 24 | $4.1B | $3.2B | ||
| Q3 24 | $3.9B | $3.6B | ||
| Q2 24 | $3.9B | $3.8B |
净利润KDPTAP
| Q1 26 | $270.0M | — | ||
| Q4 25 | $353.0M | $238.3M | ||
| Q3 25 | $662.0M | $-2.9B | ||
| Q2 25 | $547.0M | $428.7M | ||
| Q1 25 | $517.0M | $121.0M | ||
| Q4 24 | $-144.0M | $287.8M | ||
| Q3 24 | $616.0M | $199.8M | ||
| Q2 24 | $515.0M | $427.0M |
毛利率KDPTAP
| Q1 26 | 52.8% | — | ||
| Q4 25 | 53.8% | 31.0% | ||
| Q3 25 | 54.3% | 33.7% | ||
| Q2 25 | 54.2% | 34.3% | ||
| Q1 25 | 54.6% | 31.6% | ||
| Q4 24 | 55.9% | 32.0% | ||
| Q3 24 | 55.0% | 33.4% | ||
| Q2 24 | 55.4% | 34.6% |
营业利润率KDPTAP
| Q1 26 | 19.0% | — | ||
| Q4 25 | 19.6% | 10.4% | ||
| Q3 25 | 23.1% | -98.5% | ||
| Q2 25 | 21.6% | 15.6% | ||
| Q1 25 | 22.0% | 6.9% | ||
| Q4 24 | 1.5% | 12.0% | ||
| Q3 24 | 23.2% | 12.5% | ||
| Q2 24 | 22.0% | 15.6% |
净利率KDPTAP
| Q1 26 | 6.8% | — | ||
| Q4 25 | 7.8% | 7.6% | ||
| Q3 25 | 15.4% | -84.0% | ||
| Q2 25 | 13.1% | 11.5% | ||
| Q1 25 | 14.2% | 4.5% | ||
| Q4 24 | -3.5% | 8.9% | ||
| Q3 24 | 15.8% | 5.5% | ||
| Q2 24 | 13.1% | 11.1% |
每股收益（稀释后）KDPTAP
| Q1 26 | $0.20 | — | ||
| Q4 25 | $0.26 | $1.32 | ||
| Q3 25 | $0.49 | $-14.79 | ||
| Q2 25 | $0.40 | $2.13 | ||
| Q1 25 | $0.38 | $0.59 | ||
| Q4 24 | $-0.11 | $1.39 | ||
| Q3 24 | $0.45 | $0.96 | ||
| Q2 24 | $0.38 | $2.03 |
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 | $896.5M |
| 总债务越低越好 | — | $6.3B |
| 股东权益账面价值 | $25.3B | $10.2B |
| 总资产 | $73.1B | $22.7B |
| 负债/权益比越低杠杆越低 | — | 0.61× |
8季度趋势，按日历期对齐
现金及短期投资KDPTAP
| Q1 26 | $898.0M | — | ||
| Q4 25 | $1.0B | $896.5M | ||
| Q3 25 | $516.0M | $950.2M | ||
| Q2 25 | $509.0M | $613.8M | ||
| Q1 25 | $653.0M | $412.7M | ||
| Q4 24 | $510.0M | $969.3M | ||
| Q3 24 | $552.0M | $1.0B | ||
| Q2 24 | $438.0M | $1.6B |
总债务KDPTAP
| Q1 26 | — | — | ||
| Q4 25 | — | $6.3B | ||
| Q3 25 | — | $6.3B | ||
| Q2 25 | — | $6.3B | ||
| Q1 25 | — | $6.2B | ||
| Q4 24 | — | $6.1B | ||
| Q3 24 | — | $6.2B | ||
| Q2 24 | — | $7.0B |
股东权益KDPTAP
| Q1 26 | $25.3B | — | ||
| Q4 25 | $25.5B | $10.2B | ||
| Q3 25 | $25.3B | $10.3B | ||
| Q2 25 | $25.0B | $13.4B | ||
| Q1 25 | $24.4B | $13.1B | ||
| Q4 24 | $24.2B | $13.1B | ||
| Q3 24 | $25.0B | $13.3B | ||
| Q2 24 | $24.7B | $13.2B |
总资产KDPTAP
| Q1 26 | $73.1B | — | ||
| Q4 25 | $55.5B | $22.7B | ||
| Q3 25 | $54.6B | $22.9B | ||
| Q2 25 | $54.4B | $26.8B | ||
| Q1 25 | $53.7B | $25.9B | ||
| Q4 24 | $53.4B | $26.1B | ||
| Q3 24 | $52.7B | $26.6B | ||
| Q2 24 | $52.3B | $27.4B |
负债/权益比KDPTAP
| Q1 26 | — | — | ||
| Q4 25 | — | 0.61× | ||
| Q3 25 | — | 0.61× | ||
| Q2 25 | — | 0.47× | ||
| Q1 25 | — | 0.47× | ||
| Q4 24 | — | 0.47× | ||
| Q3 24 | — | 0.47× | ||
| Q2 24 | — | 0.53× |
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 | $540.7M |
| 自由现金流经营现金流 - 资本支出 | $184.0M | $357.8M |
| 自由现金流率自由现金流/营收 | 4.6% | 11.4% |
| 资本支出强度资本支出/营收 | — | 5.9% |
| 现金转化率经营现金流/净利润 | 1.04× | 2.27× |
| 过去12个月自由现金流最近4个季度 | $1.6B | $1.1B |
8季度趋势，按日历期对齐
经营现金流KDPTAP
| Q1 26 | $281.0M | — | ||
| Q4 25 | $712.0M | $540.7M | ||
| Q3 25 | $639.0M | $616.1M | ||
| Q2 25 | $431.0M | $718.3M | ||
| Q1 25 | $209.0M | $-90.7M | ||
| Q4 24 | $849.0M | $494.5M | ||
| Q3 24 | $628.0M | $521.2M | ||
| Q2 24 | $657.0M | $869.2M |
自由现金流KDPTAP
| Q1 26 | $184.0M | — | ||
| Q4 25 | $564.0M | $357.8M | ||
| Q3 25 | $527.0M | $483.0M | ||
| Q2 25 | $325.0M | $555.0M | ||
| Q1 25 | $89.0M | $-328.0M | ||
| Q4 24 | $684.0M | $383.4M | ||
| Q3 24 | $503.0M | $350.4M | ||
| Q2 24 | $542.0M | $691.7M |
自由现金流率KDPTAP
| Q1 26 | 4.6% | — | ||
| Q4 25 | 12.5% | 11.4% | ||
| Q3 25 | 12.2% | 13.9% | ||
| Q2 25 | 7.8% | 14.8% | ||
| Q1 25 | 2.4% | -12.2% | ||
| Q4 24 | 16.8% | 11.8% | ||
| Q3 24 | 12.9% | 9.7% | ||
| Q2 24 | 13.8% | 18.0% |
资本支出强度KDPTAP
| Q1 26 | — | — | ||
| Q4 25 | 3.3% | 5.9% | ||
| Q3 25 | 2.6% | 3.8% | ||
| Q2 25 | 2.5% | 4.4% | ||
| Q1 25 | 3.3% | 8.8% | ||
| Q4 24 | 4.1% | 3.4% | ||
| Q3 24 | 3.2% | 4.7% | ||
| Q2 24 | 2.9% | 4.6% |
现金转化率KDPTAP
| Q1 26 | 1.04× | — | ||
| Q4 25 | 2.02× | 2.27× | ||
| Q3 25 | 0.97× | — | ||
| Q2 25 | 0.79× | 1.68× | ||
| Q1 25 | 0.40× | -0.75× | ||
| Q4 24 | — | 1.72× | ||
| Q3 24 | 1.02× | 2.61× | ||
| Q2 24 | 1.28× | 2.04× |
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 | $877.0M | 22% |
| International | $435.0M | 11% |
TAP
暂无分部数据
