Mondelez International, Inc. (MDLZ) 10-Year Financial Performance & Capital Metrics

MDLZ • • Industrial / General

Consumer DefensiveConfectionersSnack Foods & ConvenienceGlobal Snack Food Leaders

AboutMondelez International, Inc., through its subsidiaries, manufactures, markets, and sells snack food and beverage products in the Latin America, North America, Asia, the Middle East, Africa, and Europe. It provides biscuits, including cookies, crackers, and salted snacks; chocolates; and gums and candies, as well as various cheese and grocery, and powdered beverage products. The company's snack brand portfolio includes Cadbury, Milka, and Toblerone chocolates; Oreo, belVita, and LU biscuits; Halls candies; Trident gums; and Tang powdered beverages. It serves supermarket chains, wholesalers, supercenters, club stores, mass merchandisers, distributors, convenience stores, gasoline stations, drug stores, value stores, and other retail food outlets through direct store delivery, company-owned and satellite warehouses, third party distributors, and other facilities, as well as through independent sales offices and agents, and e-commerce channels. The company was formerly known as Kraft Foods Inc. and changed its name to Mondelez International, Inc. in October 2012. Mondelez International, Inc. was incorporated in 2000 and is headquartered in Chicago, Illinois.Show more

Revenue $36.44B +1.2%
EBITDA $7.65B +13.8%
Net Income $4.61B -7.0%
EPS (Diluted) 3.42 -5.5%
Gross Margin 39.12% +2.4%
EBITDA Margin 20.98% +12.5%
Operating Margin 17.41% +14.0%
Net Margin 12.65% -8.1%
ROE 16.67% -7.1%
ROIC 10.52% +21.1%
Debt/Equity 0.68 -3.1%
Interest Coverage 12.49 +24.9%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Strong Piotroski F-Score: 8/9
✓11 consecutive years of dividend growth
✓Healthy dividend yield of 3.2%
✓Healthy 5Y average net margin of 12.7%

✗Weaknesses

No significant weaknesses identified

Price & Volume

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Growth Metrics

Revenue CAGR

10Y0.62%

5Y7.09%

3Y8.26%

TTM4.13%

Profit (Net Income) CAGR

10Y7.76%

5Y3.25%

3Y2.35%

TTM-7.47%

EPS CAGR

10Y10.33%

5Y5.23%

3Y4%

TTM-5.32%

ROCE

10Y Avg9.05%

5Y Avg9.15%

3Y Avg9.8%

Latest12.52%

Peer Comparison

Global Snack Food Leaders

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
KKellanova	29.03B	83.44	21.51	-2.84%	10.56%	31.71%	3.9%	1.63
MDLZMondelez International, Inc.	70.87B	54.92	16.06	1.18%	9.38%	13.46%	4.97%	0.68

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Sales/Revenue+	29.64B	25.92B	25.9B	25.94B	25.87B	26.58B	28.72B	31.5B	36.02B	36.44B
Revenue Growth %	-0.13%	-0.13%	-0%	0%	-0%	0.03%	0.08%	0.1%	0.14%	0.01%
Cost of Goods Sold+	18.12B	15.82B	15.86B	15.59B	15.53B	16.14B	17.47B	20.18B	22.25B	22.18B
COGS % of Revenue	0.61%	0.61%	0.61%	0.6%	0.6%	0.61%	0.61%	0.64%	0.62%	0.61%
Gross Profit+	11.51B	10.1B	10.03B	10.35B	10.34B	10.45B	11.25B	11.31B	13.76B	14.26B
Gross Margin %	0.39%	0.39%	0.39%	0.4%	0.4%	0.39%	0.39%	0.36%	0.38%	0.39%
Gross Profit Growth %	-0.09%	-0.12%	-0.01%	0.03%	-0%	0.01%	0.08%	0.01%	0.22%	0.04%
Operating Expenses+	2.62B	7.55B	6.57B	7.04B	6.49B	6.59B	6.6B	7.78B	8.26B	7.91B
OpEx % of Revenue	0.09%	0.29%	0.25%	0.27%	0.25%	0.25%	0.23%	0.25%	0.23%	0.22%
Selling, General & Admin	7.58B	6.55B	5.94B	6.47B	6.14B	6.1B	6.26B	7.38B	8B	7.44B
SG&A % of Revenue	0.26%	0.25%	0.23%	0.25%	0.24%	0.23%	0.22%	0.23%	0.22%	0.2%
Research & Development	0	0	0	0	0	0	0	0	0	0
R&D % of Revenue	-	-	-	-	-	-	-	-	-	-
Other Operating Expenses	-4.96B	1B	634M	565M	358M	495M	338M	394M	260M	473M
Operating Income+	8.9B	2.55B	3.46B	3.31B	3.84B	3.85B	4.65B	3.53B	5.5B	6.34B
Operating Margin %	0.3%	0.1%	0.13%	0.13%	0.15%	0.14%	0.16%	0.11%	0.15%	0.17%
Operating Income Growth %	1.74%	-0.71%	0.36%	-0.04%	0.16%	0%	0.21%	-0.24%	0.56%	0.15%
EBITDA+	9.79B	3.38B	4.28B	4.12B	4.89B	4.97B	5.77B	4.64B	6.72B	7.65B
EBITDA Margin %	0.33%	0.13%	0.17%	0.16%	0.19%	0.19%	0.2%	0.15%	0.19%	0.21%
EBITDA Growth %	1.28%	-0.66%	0.27%	-0.04%	0.19%	0.02%	0.16%	-0.2%	0.45%	0.14%
D&A (Non-Cash Add-back)	894M	823M	816M	811M	1.05B	1.12B	1.11B	1.11B	1.22B	1.3B
EBIT	8.49B	1.97B	3.52B	3.3B	3.93B	3.81B	4.73B	3.66B	6.43B	6.77B
Net Interest Income+	-609M	-515M	-396M	-462M	-484M	-423M	-310M	-294M	-309M	-180M
Interest Income	0	0	0	0	0	0	55M	134M	241M	328M
Interest Expense	609M	515M	396M	462M	484M	423M	365M	428M	550M	508M
Other Income/Expense	-1.01B	-795M	46M	792M	103M	940M	851M	57M	1B	-253M
Pretax Income+	7.88B	1.76B	3.51B	4.1B	3.95B	4.79B	5.5B	3.59B	6.5B	6.09B
Pretax Margin %	0.27%	0.07%	0.14%	0.16%	0.15%	0.18%	0.19%	0.11%	0.18%	0.17%
Income Tax+	593M	114M	666M	773M	2M	1.22B	1.19B	865M	1.54B	1.47B
Effective Tax Rate %	0.92%	0.93%	0.81%	0.81%	1%	0.74%	0.78%	0.76%	0.76%	0.76%
Net Income+	7.27B	1.64B	2.83B	3.32B	3.93B	3.56B	4.3B	2.72B	4.96B	4.61B
Net Margin %	0.25%	0.06%	0.11%	0.13%	0.15%	0.13%	0.15%	0.09%	0.14%	0.13%
Net Income Growth %	2.33%	-0.78%	0.73%	0.17%	0.18%	-0.1%	0.21%	-0.37%	0.83%	-0.07%
Net Income (Continuing)	7.29B	1.65B	2.84B	3.33B	3.94B	3.57B	4.31B	2.73B	4.97B	4.62B
Discontinued Operations	0	0	0	0	0	0	0	0	0	0
Minority Interest	88M	54M	80M	76M	76M	76M	54M	37M	34M	26M
EPS (Diluted)+	4.44	1.05	1.91	2.28	2.65	2.47	3.04	1.96	3.62	3.42
EPS Growth %	2.47%	-0.76%	0.82%	0.19%	0.16%	-0.07%	0.23%	-0.36%	0.85%	-0.06%
EPS (Basic)	4.49	1.07	1.93	2.30	2.68	2.48	3.06	1.97	3.64	3.44
Diluted Shares Outstanding	1.64B	1.57B	1.53B	1.49B	1.46B	1.44B	1.41B	1.39B	1.37B	1.35B
Basic Shares Outstanding	1.62B	1.56B	1.51B	1.47B	1.45B	1.43B	1.4B	1.38B	1.36B	1.34B
Dividend Payout Ratio	0.14%	0.67%	0.42%	0.41%	0.39%	0.47%	0.42%	0.73%	0.44%	0.51%

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Current Assets+	8.96B	8.48B	7.52B	7.6B	7.63B	9.98B	10.34B	10.09B	11.7B	13.24B
Cash & Short-Term Investments	1.87B	1.74B	761M	1.1B	1.29B	3.62B	3.55B	1.92B	1.81B	1.35B
Cash Only	1.87B	1.74B	761M	1.1B	1.29B	3.62B	3.55B	1.92B	1.81B	1.35B
Short-Term Investments	0	0	0	0	0	0	0	0	0	0
Accounts Receivable	3.85B	3.47B	3.53B	3.01B	2.93B	2.95B	3.19B	3.91B	4.51B	4.81B
Days Sales Outstanding	47.37	48.86	49.7	42.3	41.3	40.56	40.52	45.28	45.73	48.19
Inventory	2.61B	2.47B	2.56B	2.59B	2.55B	2.65B	2.71B	3.38B	3.62B	3.83B
Days Inventory Outstanding	52.54	56.97	58.84	60.7	59.83	59.88	56.59	61.14	59.3	62.97
Other Current Assets	633M	800M	676M	906M	866M	759M	900M	880M	1.77B	3.25B
Total Non-Current Assets+	53.88B	53.06B	55.44B	55.13B	56.88B	57.83B	56.75B	61.07B	59.69B	55.26B
Property, Plant & Equipment	8.36B	8.23B	8.68B	8.48B	9.3B	9.66B	9.27B	9.68B	10.38B	10.25B
Fixed Asset Turnover	3.54x	3.15x	2.98x	3.06x	2.78x	2.75x	3.10x	3.25x	3.47x	3.56x
Goodwill	20.66B	20.28B	21.09B	20.73B	20.85B	21.89B	21.98B	23.45B	23.9B	23.02B
Intangible Assets	18.77B	18.1B	18.64B	18B	17.96B	18.48B	18.29B	19.71B	19.84B	18.85B
Long-Term Investments	5.39B	5.58B	6.19B	7.12B	7.18B	6.04B	5.29B	4.88B	3.24B	635M
Other Non-Current Assets	427M	509M	524M	538M	875M	964M	1.38B	2.88B	1.93B	2.17B
Total Assets+	62.84B	61.54B	62.96B	62.73B	64.52B	67.81B	67.09B	71.16B	71.39B	68.5B
Asset Turnover	0.47x	0.42x	0.41x	0.41x	0.40x	0.39x	0.43x	0.44x	0.50x	0.53x
Asset Growth %	-0.06%	-0.02%	0.02%	-0%	0.03%	0.05%	-0.01%	0.06%	0%	-0.04%
Total Current Liabilities+	10.92B	14.42B	15.79B	16.74B	15.32B	15.16B	14.01B	16.73B	19.01B	19.55B
Accounts Payable	4.89B	5.32B	5.71B	5.79B	5.85B	6.21B	6.73B	7.56B	8.32B	9.43B
Days Payables Outstanding	98.48	122.7	131.28	135.69	137.55	140.46	140.64	136.75	136.49	155.2
Short-Term Debt	841M	3.98B	4.68B	5.84B	4.19B	2.7B	1.88B	2.68B	2.52B	2.08B
Deferred Revenue (Current)	0	0	0	0	0	0	0	0	0	0
Other Current Liabilities	3.56B	3.37B	3.68B	3.35B	3.41B	4.05B	3.22B	4.02B	5.49B	5.47B
Current Ratio	0.82x	0.59x	0.48x	0.45x	0.50x	0.66x	0.74x	0.60x	0.62x	0.68x
Quick Ratio	0.58x	0.42x	0.31x	0.30x	0.33x	0.48x	0.54x	0.40x	0.43x	0.48x
Cash Conversion Cycle	1.43	-16.88	-22.74	-32.69	-36.42	-40.02	-43.53	-30.33	-31.47	-44.05
Total Non-Current Liabilities+	23.82B	21.91B	21.09B	20.28B	21.88B	25B	24.76B	27.51B	24.01B	21.99B
Long-Term Debt	14.56B	13.22B	12.97B	12.53B	14.12B	17.09B	17.39B	20.25B	16.89B	15.66B
Capital Lease Obligations	0	0	0	0	494M	652M	616M	514M	537M	623M
Deferred Tax Liabilities	4.75B	4.72B	3.34B	3.55B	3.34B	3.35B	3.44B	3.44B	3.29B	3.42B
Other Non-Current Liabilities	4.51B	3.97B	4.78B	4.2B	3.93B	3.9B	3.31B	3.31B	3.3B	2.28B
Total Liabilities	34.74B	36.32B	36.88B	37.02B	37.2B	40.16B	38.77B	44.24B	43.02B	41.54B
Total Debt+	15.4B	17.2B	17.65B	18.37B	18.83B	20.52B	19.97B	23.54B	19.95B	18.37B
Net Debt	13.53B	15.46B	16.89B	17.27B	17.54B	16.9B	16.43B	21.62B	18.14B	17.02B
Debt / Equity	0.55x	0.68x	0.68x	0.71x	0.69x	0.74x	0.71x	0.87x	0.70x	0.68x
Debt / EBITDA	1.57x	5.09x	4.13x	4.46x	3.85x	4.13x	3.46x	5.07x	2.97x	2.40x
Net Debt / EBITDA	1.38x	4.58x	3.95x	4.19x	3.59x	3.40x	2.85x	4.66x	2.70x	2.23x
Interest Coverage	14.61x	4.96x	8.74x	7.17x	7.94x	9.11x	12.75x	8.26x	10.00x	12.49x
Total Equity+	28.1B	25.21B	26.07B	25.71B	27.32B	27.65B	28.32B	26.92B	28.37B	26.96B
Equity Growth %	0.01%	-0.1%	0.03%	-0.01%	0.06%	0.01%	0.02%	-0.05%	0.05%	-0.05%
Book Value per Share	17.17	16.03	17.03	17.30	18.74	19.19	20.04	19.44	20.71	20.01
Total Shareholders' Equity	28.01B	25.16B	25.99B	25.64B	27.24B	27.58B	28.27B	26.88B	28.33B	26.93B
Common Stock	0	0	0	0	0	0	0	0	0	0
Retained Earnings	20.7B	21.15B	22.63B	24.49B	26.61B	28.4B	30.81B	31.48B	34.24B	36.48B
Treasury Stock	-14.46B	-16.71B	-18.55B	-20.18B	-21.14B	-22.2B	-24.01B	-25.79B	-27.17B	-29.35B
Accumulated OCI	-9.99B	-11.12B	-10B	-10.63B	-10.25B	-10.69B	-10.62B	-10.95B	-10.95B	-12.47B
Minority Interest	88M	54M	80M	76M	76M	76M	54M	37M	34M	26M

Cash Flow

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	3.73B	2.84B	2.59B	3.95B	3.96B	3.96B	4.14B	3.91B	4.71B	4.91B
Operating CF Margin %	0.13%	0.11%	0.1%	0.15%	0.15%	0.15%	0.14%	0.12%	0.13%	0.13%
Operating CF Growth %	0.05%	-0.24%	-0.09%	0.52%	0%	-0%	0.04%	-0.06%	0.21%	0.04%
Net Income	7.29B	1.67B	2.94B	3.4B	3.88B	3.57B	4.31B	2.73B	4.97B	4.61B
Depreciation & Amortization	894M	823M	816M	811M	1.05B	1.12B	1.11B	1.11B	1.22B	1.3B
Stock-Based Compensation	136M	140M	137M	128M	135M	126M	121M	120M	146M	147M
Deferred Taxes	-30M	-141M	111M	195M	-626M	-70M	205M	-42M	-37M	257M
Other Non-Cash Items	-5.19B	553M	-414M	-484M	-28M	-600M	-963M	518M	-1.09B	-438M
Working Capital Changes	623M	-206M	-993M	-97M	-448M	-177M	-649M	-521M	-487M	-969M
Change in Receivables	224M	-85M	-647M	257M	-315M	-356M	-868M	-719M	-372M	-519M
Change in Inventory	-49M	62M	-18M	-204M	31M	-24M	-170M	-635M	-193M	-458M
Change in Payables	659M	409M	5M	236M	4M	436M	702M	715M	264M	1.68B
Cash from Investing+	2.65B	-1.03B	-301M	-1.22B	-960M	500M	-26M	-4.89B	2.81B	526M
Capital Expenditures	-1.51B	-1.22B	-1.01B	-1.09B	-925M	-863M	-965M	-906M	-1.11B	-1.39B
CapEx % of Revenue	0.05%	0.05%	0.04%	0.04%	0.04%	0.03%	0.03%	0.03%	0.03%	0.04%
Acquisitions	-	-	-	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	-484M	138M	109M	398M	82M	10M	233M	-3.98B	3.79B	2.42B
Cash from Financing+	-5.88B	-1.86B	-3.36B	-2.33B	-2.79B	-2.21B	-4.07B	-456M	-7.56B	-5.78B
Debt Issued (Net)	-	-	-	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-	-	-	-
Dividends Paid	-1.01B	-1.09B	-1.2B	-1.36B	-1.54B	-1.68B	-1.83B	-1.99B	-2.16B	-2.35B
Share Repurchases	-	-	-	-	-	-	-	-	-	-
Other Financing	126M	1.87B	1.23B	211M	313M	131M	-1M	174M	173M	129M
Net Change in Cash	-	-	-	-	-	-	-	-	-	-
Free Cash Flow+	2.21B	1.61B	1.58B	2.85B	3.04B	3.1B	3.18B	3B	3.6B	3.52B
FCF Margin %	0.07%	0.06%	0.06%	0.11%	0.12%	0.12%	0.11%	0.1%	0.1%	0.1%
FCF Growth %	0.15%	-0.27%	-0.02%	0.81%	0.07%	0.02%	0.02%	-0.05%	0.2%	-0.02%
FCF per Share	1.35	1.03	1.03	1.92	2.09	2.15	2.25	2.17	2.63	2.62
FCF Conversion (FCF/Net Income)	0.51x	1.74x	0.92x	1.19x	1.01x	1.12x	0.96x	1.44x	0.95x	1.06x
Interest Paid	747M	630M	398M	491M	486M	413M	426M	551M	568M	554M
Taxes Paid	745M	527M	848M	864M	981M	1.26B	1.56B	1.1B	1.61B	1.47B

Key Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	25.98%	6.13%	11.03%	12.81%	14.82%	12.93%	15.36%	9.84%	17.94%	16.67%
Return on Invested Capital (ROIC)	15.79%	4.65%	6.21%	5.78%	6.56%	6.46%	7.82%	5.68%	8.68%	10.52%
Gross Margin	38.84%	38.98%	38.75%	39.91%	39.96%	39.3%	39.19%	35.92%	38.22%	39.12%
Net Margin	24.52%	6.31%	10.92%	12.79%	15.19%	13.37%	14.97%	8.63%	13.77%	12.65%
Debt / Equity	0.55x	0.68x	0.68x	0.71x	0.69x	0.74x	0.71x	0.87x	0.70x	0.68x
Interest Coverage	14.61x	4.96x	8.74x	7.17x	7.94x	9.11x	12.75x	8.26x	10.00x	12.49x
FCF Conversion	0.51x	1.74x	0.92x	1.19x	1.01x	1.12x	0.96x	1.44x	0.95x	1.06x
Revenue Growth	-13.46%	-12.53%	-0.1%	0.16%	-0.27%	2.76%	8.05%	9.67%	14.35%	1.18%

Revenue by Segment

	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Biscuits	11.39B	10.59B	10.77B	11.19B	11.44B	12.77B	13.52B	15.61B	17.63B	17.8B
Biscuits Growth	-	-7.05%	1.72%	3.83%	2.26%	11.61%	5.94%	15.41%	12.95%	0.98%
Chocolate	8.07B	7.74B	8.1B	8.18B	8.16B	8.18B	9.3B	9.49B	10.62B	11.25B
Chocolate Growth	-	-4.15%	4.65%	0.96%	-0.23%	0.26%	13.69%	2.01%	11.94%	5.92%
Gum and Candy	4.26B	3.95B	3.64B	3.49B	3.35B	2.66B	2.87B	3.41B	4.43B	4.04B
Gum and Candy Growth	-	-7.30%	-7.83%	-4.04%	-3.90%	-20.66%	7.89%	18.80%	29.72%	-8.72%
Cheese and Grocery	2.65B	2.2B	2.03B	1.9B	1.82B	1.93B	1.99B	1.89B	2.16B	2.25B
Cheese and Grocery Growth	-	-16.94%	-7.72%	-6.45%	-4.16%	5.65%	3.38%	-5.03%	14.13%	4.54%
Beverages	3.26B	1.45B	1.35B	1.18B	1.09B	1.05B	1.03B	1.1B	1.19B	1.1B
Beverages Growth	-	-55.67%	-6.23%	-12.62%	-7.52%	-4.20%	-1.33%	6.28%	7.73%	-7.51%

Revenue by Geography

	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Europe	13.31B	9.76B	9.79B	10.12B	9.97B	10.21B	11.16B	11.42B	12.86B	13.31B
Europe Growth	-	-26.73%	0.40%	3.35%	-1.48%	2.36%	9.30%	2.37%	12.58%	3.52%
North America	6.97B	6.96B	6.8B	6.88B	7.11B	8.16B	8.3B	9.68B	11.08B	10.91B
North America Growth	-	-0.20%	-2.34%	1.29%	3.24%	14.76%	1.78%	16.60%	14.44%	-1.52%
Asia, Middle East and Africa	4.36B	5.82B	5.74B	5.73B	5.77B	5.74B	6.46B	6.77B	7.08B	7.3B
Asia, Middle East and Africa Growth	-	33.39%	-1.32%	-0.17%	0.72%	-0.52%	12.63%	4.67%	4.55%	3.12%
Latin America	4.99B	3.39B	3.57B	3.2B	3.02B	2.48B	2.8B	3.63B	5.01B	4.93B
Latin America Growth	-	-32.00%	5.13%	-10.21%	-5.75%	-17.93%	12.92%	29.75%	37.94%	-1.60%

Frequently Asked Questions

Valuation & Price

Mondelez International, Inc. (MDLZ) has a price-to-earnings (P/E) ratio of 16.1x. This is roughly in line with market averages.

Growth & Financials

Mondelez International, Inc. (MDLZ) reported $37.65B in revenue for fiscal year 2024. This represents a 5% increase from $35.81B in 2011.

Mondelez International, Inc. (MDLZ) grew revenue by 1.2% over the past year. Growth has been modest.

Yes, Mondelez International, Inc. (MDLZ) is profitable, generating $3.53B in net income for fiscal year 2024 (12.7% net margin).

Dividend & Returns

Yes, Mondelez International, Inc. (MDLZ) pays a dividend with a yield of 3.18%. This makes it attractive for income-focused investors.

Mondelez International, Inc. (MDLZ) has a return on equity (ROE) of 16.7%. This is reasonable for most industries.

Mondelez International, Inc. (MDLZ) generated $2.29B in free cash flow for fiscal year 2024. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.

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