CCEP vs KDP: Coca-Cola European Partners and Keurig Dr Pepper compared
The short version
From the latest prices and each company's SEC filings. Who's ahead on each measure, not which to buy.
- Coca-Cola European Partners is the larger company, worth $45.1B, close to Keurig Dr Pepper's $42.5B.
- Keurig Dr Pepper grew revenue faster over the last year (+75.6% vs +2.3%).
- Keurig Dr Pepper keeps more of each dollar of revenue as operating profit (16.2% vs 13.4%).
- On earnings, Coca-Cola European Partners is the cheaper stock (20.4x vs 23.2x).
Side by side
The stronger figure is shaded where higher (or, for valuation multiples, lower) reads as better. How the implied growth works.
| Measure | CCEP | KDP |
|---|---|---|
| Market cap | $45.1B | $42.5B |
| Share price | $104.25 | $31.76 |
| Revenue (last fiscal year) | $20.9B | $16.6B |
| Free cash flow (last fiscal year) | $2.0B | $1.5B |
| Revenue growth, last year | +2.3% | +75.6% |
| Revenue growth per year, last 5 fiscal years | +11.0% | +7.0% |
| Operating margin | 13.4% | 16.2% |
| Net margin | 9.3% | 7.1% |
| Return on equity | 28.4% | 5.7% |
| P/E (trailing) | 20.4x | 23.2x |
| Price / free cash flow | 23.2x | 28.3x |
| EV / EBITDA | 12.0x | 28.6x |
| FCF growth the price implies | — | 9.5% |
| Dividend yield | 2.4% | 2.9% |
| Debt / equity | 1.73x | 2.16x |
| Fundamental grade | C | D |
| Superinvestors holding it | 0 | 6 |
| Insider purchases, last 12 months | 0 | 4 |
Results from SEC filings
Revenue and free cash flow by fiscal year, from each company's 10-K filings.
Coca-Cola European Partners
| Year | Revenue | Free cash flow | Op. margin |
|---|---|---|---|
| 2021 | $13.8B | $1.7B | 11.0% |
| 2022 | $17.3B | $2.3B | 12.0% |
| 2023 | $18.3B | $2.0B | 12.8% |
| 2024 | $20.4B | $2.1B | 10.4% |
| 2025 | $20.9B | $2.0B | 13.4% |
Keurig Dr Pepper
| Year | Revenue | Free cash flow | Op. margin |
|---|---|---|---|
| 2021 | $12.7B | $2.5B | 22.8% |
| 2022 | $14.1B | $2.5B | 18.5% |
| 2023 | $14.8B | $904M | 21.5% |
| 2024 | $15.4B | $1.7B | 16.9% |
| 2025 | $16.6B | $1.5B | 21.5% |
Where the revenue comes from
Coca-Cola European Partners · by regions, 2025
Great Britain$3.5B17%
Iberia$3.4B16%
Germany$3.2B15%
France$2.4B12%
Australia$2.4B11%
Philippines$1.9B9%
Keurig Dr Pepper · by products, 2025
LRB$11.6B70%
Pods$3.8B23%
Appliances$646M4%
Other$578M3%
Compare them in fullFifteen years of statements, quarterly results, DCF and IRR models, and any number of peers side by side.
Open CCEP in InvestinglyQuestions
Which is bigger, Coca-Cola European Partners or Keurig Dr Pepper?
Coca-Cola European Partners (CCEP), at $45.1B against $42.5B.
Is CCEP or KDP cheaper?
By trailing P/E, Coca-Cola European Partners (20.4x) is cheaper than Keurig Dr Pepper (23.2x). A lower multiple can also mean the market expects less growth.
Which grows faster, CCEP or KDP?
Keurig Dr Pepper: revenue grew +75.6% over the last year, against +2.3%.
Prices and ratios as of the last daily update; statements from SEC filings. Information only, not investment advice.