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Keurig Dr Pepper（KDP）与标普全球（VG）财务数据对比。点击上方公司名可切换其他公司
标普全球的季度营收约是Keurig Dr Pepper的1.1倍（$4.4B vs $4.0B），标普全球净利率更高（26.8% vs 6.8%，领先20.0%），标普全球同比增速更快（191.7% vs 9.4%），Keurig Dr Pepper自由现金流更多（$184.0M vs $-1.5B），过去两年标普全球的营收复合增速更高（77.3% 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。
标普全球是总部位于美国纽约曼哈顿的上市企业，核心业务涵盖金融信息与数据分析、能源及大宗商品情报服务，旗下拥有标普全球评级、标普全球能源、标普全球市场财智、印度信用评级机构CRISIL等子品牌，同时是标普道琼斯指数合资公司的控股股东。
KDP vs VG — 直观对比
营收规模更大
VG
是对方的1.1倍
$4.0B
营收增速更快
VG
高出182.3%
9.4%
净利率更高
VG
高出20.0%
6.8%
自由现金流更多
KDP
多$1.7B
$-1.5B
两年增速更快
VG
近两年复合增速
0.7%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $4.0B | $4.4B |
| 净利润 | $270.0M | $1.2B |
| 毛利率 | 52.8% | — |
| 营业利润率 | 19.0% | 38.7% |
| 净利率 | 6.8% | 26.8% |
| 营收同比 | 9.4% | 191.7% |
| 净利润同比 | -47.8% | 20.3% |
| 每股收益（稀释后） | $0.20 | $0.41 |
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KDPVG
| Q1 26 | $4.0B | — | ||
| Q4 25 | $4.5B | $4.4B | ||
| Q3 25 | $4.3B | $3.3B | ||
| Q2 25 | $4.2B | $3.1B | ||
| Q1 25 | $3.6B | $2.9B | ||
| Q4 24 | $4.1B | $1.5B | ||
| Q3 24 | $3.9B | $926.0M | ||
| Q2 24 | $3.9B | $1.1B |
净利润KDPVG
| Q1 26 | $270.0M | — | ||
| Q4 25 | $353.0M | $1.2B | ||
| Q3 25 | $662.0M | $550.0M | ||
| Q2 25 | $547.0M | $475.0M | ||
| Q1 25 | $517.0M | $517.0M | ||
| Q4 24 | $-144.0M | $990.0M | ||
| Q3 24 | $616.0M | $-294.0M | ||
| Q2 24 | $515.0M | $352.0M |
毛利率KDPVG
| 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KDPVG
| Q1 26 | 19.0% | — | ||
| Q4 25 | 19.6% | 38.7% | ||
| Q3 25 | 23.1% | 39.7% | ||
| Q2 25 | 21.6% | 33.5% | ||
| Q1 25 | 22.0% | 37.3% | ||
| Q4 24 | 1.5% | 39.0% | ||
| Q3 24 | 23.2% | 20.4% | ||
| Q2 24 | 22.0% | 32.8% |
净利率KDPVG
| Q1 26 | 6.8% | — | ||
| Q4 25 | 7.8% | 26.8% | ||
| Q3 25 | 15.4% | 16.5% | ||
| Q2 25 | 13.1% | 15.3% | ||
| Q1 25 | 14.2% | 17.9% | ||
| Q4 24 | -3.5% | 65.0% | ||
| Q3 24 | 15.8% | -31.7% | ||
| Q2 24 | 13.1% | 31.8% |
每股收益（稀释后）KDPVG
| Q1 26 | $0.20 | — | ||
| Q4 25 | $0.26 | $0.41 | ||
| Q3 25 | $0.49 | $0.16 | ||
| Q2 25 | $0.40 | $0.14 | ||
| Q1 25 | $0.38 | $0.15 | ||
| Q4 24 | $-0.11 | $0.35 | ||
| Q3 24 | $0.45 | $-0.15 | ||
| Q2 24 | $0.38 | $0.12 |
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 | $2.4B |
| 总债务越低越好 | — | $34.2B |
| 股东权益账面价值 | $25.3B | $6.7B |
| 总资产 | $73.1B | $53.4B |
| 负债/权益比越低杠杆越低 | — | 5.07× |
8季度趋势，按日历期对齐
现金及短期投资KDPVG
| Q1 26 | $898.0M | — | ||
| Q4 25 | $1.0B | $2.4B | ||
| Q3 25 | $516.0M | $1.9B | ||
| Q2 25 | $509.0M | $2.2B | ||
| Q1 25 | $653.0M | $3.6B | ||
| Q4 24 | $510.0M | $3.6B | ||
| Q3 24 | $552.0M | — | ||
| Q2 24 | $438.0M | — |
总债务KDPVG
| Q1 26 | — | — | ||
| Q4 25 | — | $34.2B | ||
| Q3 25 | — | $32.6B | ||
| Q2 25 | — | $30.0B | ||
| Q1 25 | — | $29.3B | ||
| Q4 24 | — | $29.3B | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
股东权益KDPVG
| Q1 26 | $25.3B | — | ||
| Q4 25 | $25.5B | $6.7B | ||
| Q3 25 | $25.3B | $5.7B | ||
| Q2 25 | $25.0B | $5.3B | ||
| Q1 25 | $24.4B | $4.9B | ||
| Q4 24 | $24.2B | $2.9B | ||
| Q3 24 | $25.0B | — | ||
| Q2 24 | $24.7B | — |
总资产KDPVG
| Q1 26 | $73.1B | — | ||
| Q4 25 | $55.5B | $53.4B | ||
| Q3 25 | $54.6B | $50.1B | ||
| Q2 25 | $54.4B | $46.5B | ||
| Q1 25 | $53.7B | $45.1B | ||
| Q4 24 | $53.4B | $43.5B | ||
| Q3 24 | $52.7B | — | ||
| Q2 24 | $52.3B | — |
负债/权益比KDPVG
| Q1 26 | — | — | ||
| Q4 25 | — | 5.07× | ||
| Q3 25 | — | 5.73× | ||
| Q2 25 | — | 5.69× | ||
| Q1 25 | — | 6.01× | ||
| Q4 24 | — | 10.11× | ||
| 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 | $2.1B |
| 自由现金流经营现金流 - 资本支出 | $184.0M | $-1.5B |
| 自由现金流率自由现金流/营收 | 4.6% | -34.1% |
| 资本支出强度资本支出/营收 | — | 81.6% |
| 现金转化率经营现金流/净利润 | 1.04× | 1.77× |
| 过去12个月自由现金流最近4个季度 | $1.6B | $-6.8B |
8季度趋势，按日历期对齐
经营现金流KDPVG
| Q1 26 | $281.0M | — | ||
| Q4 25 | $712.0M | $2.1B | ||
| Q3 25 | $639.0M | $1.9B | ||
| Q2 25 | $431.0M | $1.5B | ||
| Q1 25 | $209.0M | $1.1B | ||
| Q4 24 | $849.0M | — | ||
| Q3 24 | $628.0M | — | ||
| Q2 24 | $657.0M | — |
自由现金流KDPVG
| Q1 26 | $184.0M | — | ||
| Q4 25 | $564.0M | $-1.5B | ||
| Q3 25 | $527.0M | $-1.4B | ||
| Q2 25 | $325.0M | $-1.5B | ||
| Q1 25 | $89.0M | $-2.4B | ||
| Q4 24 | $684.0M | — | ||
| Q3 24 | $503.0M | — | ||
| Q2 24 | $542.0M | — |
自由现金流率KDPVG
| Q1 26 | 4.6% | — | ||
| Q4 25 | 12.5% | -34.1% | ||
| Q3 25 | 12.2% | -42.4% | ||
| Q2 25 | 7.8% | -49.1% | ||
| Q1 25 | 2.4% | -81.3% | ||
| Q4 24 | 16.8% | — | ||
| Q3 24 | 12.9% | — | ||
| Q2 24 | 13.8% | — |
资本支出强度KDPVG
| Q1 26 | — | — | ||
| Q4 25 | 3.3% | 81.6% | ||
| Q3 25 | 2.6% | 98.9% | ||
| Q2 25 | 2.5% | 96.1% | ||
| Q1 25 | 3.3% | 119.8% | ||
| Q4 24 | 4.1% | — | ||
| Q3 24 | 3.2% | — | ||
| Q2 24 | 2.9% | — |
现金转化率KDPVG
| Q1 26 | 1.04× | — | ||
| Q4 25 | 2.02× | 1.77× | ||
| Q3 25 | 0.97× | 3.42× | ||
| Q2 25 | 0.79× | 3.07× | ||
| Q1 25 | 0.40× | 2.15× | ||
| Q4 24 | — | — | ||
| Q3 24 | 1.02× | — | ||
| Q2 24 | 1.28× | — |
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% |
VG
| Plaquemines Project Segment | $3.4B | 76% |
| Calcasieu Project Segment | $841.0M | 19% |
| Other | $208.0M | 5% |
