Keurig Dr Pepper Inc. — Earnings Quality Grade F
KDP · Consumer Defensive
Major red flags
Screening Summary
管理层信号
数据来源：SEC EDGAR 8-K Item 5.02，附 Exhibit 99.1 链接
Financial Trends
Revenue & Net Income ($B)
Margins (%)
18-Point Screening
Revenue Quality
DSO 37 days, change +1 days YoY
AR outpaced revenue for 2 consecutive years
Revenue 8.2%, CFFO -10.3%. Cash follows revenue
Expense Quality
Inventory growth 33.4% exceeds COGS 11.5%
CapEx growth -19.1% vs revenue 8.2%. Normal
SG&A/Gross Profit = 59.5%. Normal
Gross margin 54.2%, change -1.4pp. Stable
Cash Flow Quality
CFFO/NI = 0.96. Profits backed by cash
FCF $1.5B, FCF/NI = 0.72
Accruals ratio = 0.2%. Low accruals
Cash $1.0B covers only 6% of debt $16.1B
Balance Sheet Health
Goodwill+Intangibles $44.0B = 172% of equity. Over 50%
Debt/EBITDA = 3.8x. Healthy
Other assets 7.9% vs revenue 8.2%. Normal
No write-off data
Acquisition Risk
FCF after acquisitions positive
Goodwill+Intangibles change 1% YoY. Normal
Manipulation Score
M-Score = -2.36 (< -2.22). Unlikely manipulator
Beneish M-Score
Altman Z-Score
Generated from public financial data using forensic accounting frameworks. Not investment advice. Data: Yahoo Finance · 2026-04-25