Canadian Halal Investor.

NASDAQ Shariah screener · October 2026

Is Keurig Dr Pepper Inc. (KDP) Halal?

FAIL

Keurig Dr Pepper Inc. · NASDAQ: KDP · Consumer Staples

The short answer

No -- Keurig Dr Pepper Inc. (KDP) fails this Shariah stock screen at the debt gate. Per its own FY2025 10-K, interest-bearing debt of $17,956M (senior unsecured notes $13,931M, commercial paper $2,210M, and operating/finance lease liabilities $1,815M) is about 43.06% of its ~$41.70B market cap ($30.69 latest close retrieved October 2, 2026; 1,358,666,059 shares outstanding), above the ~33% ceiling -- and it fails even excluding lease liabilities (38.71%). Its business itself is clean: Item 1 describes only beverages and single-serve brewing systems, and the filing lists no alcoholic beverage brands. Its non-compliant income is 0.00% of $16,603M revenue (no interest income is separately disclosed; interest is reported only as net expense). Third-party screeners agree it is not compliant: Zoya flags KDP not Shariah-compliant and Musaffa classifies it not halal (both October 2026). All figures are from the filed 10-K. This is a factual screen, not a religious ruling.

Gate 1 — Business activity: PASS

Keurig Dr Pepper Inc. (NASDAQ: KDP), created July 9, 2018 through the combination of Keurig and Dr Pepper Snapple Group, describes its business in Item 1 of its FY2025 10-K as manufacturing, marketing, distributing, and selling hot and cold beverages and single-serve brewing systems in North America -- brands include Dr Pepper, Canada Dry, Mott's, A&W, Peñafiel, GHOST, 7UP, Snapple, Green Mountain Coffee Roasters, Clamato, The Original Donut Shop, and Core Hydration. Business screen (factual, from the filing): there are no haram segments -- no conventional lending or insurance, gambling, pork, tobacco, or weapons operations. Alcohol check: the 10-K lists no alcoholic beverage brands; the only beer-adjacent items are an equity-method investment in Athletic Brewing Holding Company, LLC (a non-alcoholic beer company) and a passing mention of selling through beer wholesalers and wine/spirit distributors as a distribution channel, not owned products. Gate 1 passes. Facts only.

Gate 2 — Debt and cash: FAIL

Per Keurig Dr Pepper's FY2025 10-K (fiscal year ended December 31, 2025), interest-bearing debt was $17,956M -- $13,931M of senior unsecured notes, $2,210M of commercial paper notes, and $1,815M of operating and finance lease liabilities. Structured payables of $25M are trade-related operating liabilities and are not counted as debt. Against a market cap of about $41.70B ($30.69 latest close retrieved October 2, 2026; 1,358,666,059 shares outstanding per the 10-K cover), debt divided by market cap is about 43.06%, above the ~33% ceiling -- it fails even excluding lease liabilities (38.71%). Cash and cash equivalents of $1,026M are about 2.46% of market cap. Gate 2 fails. Facts only.

Gate 3 — Non-compliant income: PASS

Keurig Dr Pepper's FY2025 10-K income statement reports net sales of $16,603M and no separately disclosed interest-income line -- interest is reported only as 'Interest expense, net' of $754M (an expense) and 'Other expense (income), net' of $134M, so no interest-type income figure can be extracted from the filing. Zoya's KDP page likewise reports $0 interest income with 'no separate interest income disclosed' against $16,603M revenue for FY2025. The non-compliant income ratio is therefore 0.00% of revenue, below the 5% ceiling. Gate 3 passes. Facts only.

Key figures used

Frequently asked questions

What does Keurig Dr Pepper do?

Keurig Dr Pepper Inc. (NASDAQ: KDP) describes its business in Item 1 of its FY2025 10-K as manufacturing, marketing, distributing, and selling hot and cold beverages and single-serve brewing systems in North America. Its brand portfolio includes Dr Pepper, Canada Dry, Mott's, A&W, Penafiel, GHOST, 7UP, Snapple, Green Mountain Coffee Roasters, Clamato, The Original Donut Shop, and Core Hydration, plus the Keurig brewing system. It was created on July 9, 2018 through the combination of Keurig and Dr Pepper Snapple Group, and trades on Nasdaq under the symbol KDP. The 10-K discloses no alcoholic beverage brands: its only beer-adjacent mention is an equity-method investment in Athletic Brewing Holding Company, LLC (a non-alcoholic beer company), and a passing reference to selling through beer wholesalers and wine and spirit distributors as a distribution channel, not products it owns.

Why does Keurig Dr Pepper fail this Shariah stock screen?

Keurig Dr Pepper fails this screen at the debt gate only. Per its FY2025 10-K, interest-bearing debt totals $17,956M -- $13,931M of senior unsecured notes, $2,210M of commercial paper, and $1,815M of operating and finance lease liabilities. Against a market cap of about $41.70B ($30.69 latest close retrieved October 2, 2026; 1,358,666,059 shares outstanding per the 10-K cover), debt divided by market cap is about 43.06%, above the ~33% ceiling. The business-activity gate passes (beverages, no haram segments) and the non-compliant income gate passes (no separately disclosed interest income). This is a factual screen, not a religious ruling -- consult a qualified scholar for personal rulings.

What is Keurig Dr Pepper's interest-bearing debt ratio?

Per Keurig Dr Pepper's FY2025 10-K (fiscal year ended December 31, 2025), interest-bearing debt was $17,956M -- $13,931M of senior unsecured notes (Note 5), $2,210M of commercial paper notes, and $1,815M of operating and finance lease liabilities ($127M + $764M operating; $179M + $745M finance). Structured payables of $25M are trade-related operating liabilities and are not counted as debt. Against a market cap of about $41.70B ($30.69 latest close retrieved October 2, 2026; 1,358,666,059 shares outstanding per the 10-K cover), debt divided by market cap is about 43.06%, above the ~33% ceiling -- it fails even excluding leases (38.71%). Cash and cash equivalents of $1,026M are about 2.46% of market cap. Gate 2 fails. Facts only.

What is Keurig Dr Pepper's non-compliant income ratio?

Keurig Dr Pepper's FY2025 10-K income statement reports net sales of $16,603M and discloses no separate interest-income line -- interest is reported only as 'Interest expense, net' of $754M, an expense, and 'Other expense (income), net' of $134M. No interest-type income figure can be extracted from the filing, and Zoya's KDP page likewise reports $0 interest income with 'no separate interest income disclosed' against $16,603M revenue. The non-compliant income ratio is therefore 0.00% of revenue, below the 5% ceiling. Gate 3 passes. Facts only.

Do Zoya, Musaffa, or ShariaPortfolio cover Keurig Dr Pepper?

Zoya covers KDP and flags it as not Shariah-compliant (assessment date blank when accessed in October 2026), reporting revenue of $16,603M with $0 / no separately disclosed interest income for the fiscal year ended December 31, 2025. Musaffa covers KDP and classifies it as 'not halal' as of October 2026 under its AAOIFI methodology. No ShariaPortfolio screener page for KDP was found. This page applies the screen directly from Keurig Dr Pepper's own 10-K filing and reports these positions honestly.

Sources

Screened 2026-10-02 from published company figures and market data. Figures change; this page is educational, not financial advice and not a religious ruling.

Screened with our two-gate Shariah screening methodology (business-activity gate, then AAOIFI-style financial ratios).