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Mondelez International, Inc.

MDLZ Consumer Defensive Confectioners

Mondelez International, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $38.5 billion, up 5.75% from fiscal 2024.

Revenue
+2.29%
EPS
+79.8%
Free cash flow
+137.3%
Total debt
−3.14%

Quarter to September 2026, against a year earlier

66.68 0.70 −1.04%
Market cap
$84.6B
P/E
20.9×
Fwd P/E
19.8×
Dividend yield
3.03%
F-score
5/9
Altman Z
2.18
Beneish M
−2.40
Dividend safety
32/100
Overview Business Profile Earnings & Analysis
Financials
Income Statement Balance Sheet Cash Flow Metrics & Ratios
Segments Valuation Filings

Revenue by segment Fiscal 2025

  • Europe
  • North America
  • AMEA
  • Latin America

Every year since 2009 →

Insider Decisions last twelve months

Sold, $m 17.29
Trades a month
Jan 26 Apr 26 Jul 26 Oct 26
Buy — — — — — — — — — — — —
Sell — — 1 — 1 — — — 1 — — 1
Insider Ownership 1.25%

Capital & Financial Ratios $m

Size
Market Cap 84,580.00
Revenue ttm 39,898.00
Net income ttm 4,093.00
Free cash flow ttm 3,663.00
Net debt Q 16,462.00
Valuation
P/E 20.87
Forward P/E 19.80
Price / sales 2.13
Forward P/S Powerpack
Price / FCF 23.23
Price / book 3.19
Financial health
Current ratio Q 0.62 (below 1: weak)
Debt / equity Q 0.68
Interest coverage Q 27.47
Growth
Revenue growth Q +2.29% (above 0%: growing)
Operating income growth Q +136.29% (above 0%: growing)
EPS, this year +4.63%
EPS, next year A +10.01%
Revenue, next year A +3.81%
EPS, past 5 yrs −5.21% (below 0%: weak)
EPS, next 5 yrs A +7.25%

Green and red mark values outside typical ranges; (Q) is the latest quarter, (A) analysts’ estimates. How we judge →

Valuation vs history

EV/Sales, ten years
EV/Sales is 2.5×, against a ten-year median of 3.2×; over the ten years it ranged from 2.2× in 2025 to 3.9× in 2021.
P/E against its own 10 years 33.08%
10-year low 10-year high
P/S against its own 10 years 10.78%
10-year low 10-year high
P/B against its own 10 years 73.30%
10-year low 10-year high
EV/Sales against its own 10 years 9.94%
10-year low 10-year high
EV/FCF against its own 10 years 20.87%
10-year low 10-year high

Dividends raised every year since 2017

Yield
3.03%
Annual rate
2.02
Payout ratio
63.7%
Growth, 2017–25
+11.4%/yr
  1. 0.82 ’17
  2. 0.96 ’18 +17
  3. 1.09 ’19 +14
  4. 1.20 ’20 +10
  5. 1.33 ’21 +11
  6. 1.47 ’22 +11
  7. 1.62 ’23 +10
  8. 1.79 ’24 +10
  9. 1.94 ’25 +8
  10. 2.04 ’26e +5
paid forecast change on the year, % Powerpack

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 1,810 1,351 2,125 1,628
Receivables 4,512 4,811 4,858 5,874
Inventory 3,615 3,827 4,419 4,441
Other 1,766 3,253 1,549 1,845
11,703 13,242 12,951 13,788
2023 2024 2025 Q'26
Payables 8,321 9,433 10,139 9,510
ST’ Debt 2,101 2,014 1,295 1,739
Other 4,330 4,545 3,955 3,566
19,013 19,549 21,864 22,399

Compound Annual Growth %

10y 5y 3y
Sales 2.66% 7.71% 6.96%
Cash Flow 1.93% 2.63% 4.92%
Earnings (10.30%) (7.17%) (3.38%)
Book Value (0.82%) (1.31%) (1.29%)

Earnings Trends EPS, adjusted, against the consensus

Q3 FY26 Estimate 0.72 Actual 0.78

Earnings per share against the consensus, by quarter
Quarter Estimate Reported Result
Q4 FY25 0.70 0.72 Beat by 0.02
Q1 FY26 0.61 0.67 Beat by 0.06
Q2 FY26 0.67 0.73 Beat by 0.06
Q3 FY26 0.72 0.78 Beat by 0.06
Q4 FY26 0.91 — Reports 2 February 2027

EPS $

Mar Jun Sep Dec Year
’26 0.44 1.20 1.02 — —
’25 0.31 0.49 0.57 0.51 1.89
’24 1.04 0.45 0.63 1.30 3.42
’23 1.52 0.69 0.72 0.70 3.62
’22 0.61 0.54 0.39 0.42 1.96
’21 0.68 0.76 0.89 0.71 3.04
’20 0.52 0.38 0.78 0.80 2.47
Fiscal quarters ending in the months shown.

Revenue $m

Mar Jun Sep Dec Year
’26 10,080 9,355 9,967 — —
’25 9,313 8,984 9,744 10,496 38,537
’24 9,290 8,343 9,204 9,604 36,441
’23 9,166 8,507 9,029 9,314 36,016
’22 7,764 7,274 7,763 8,695 31,496
’21 7,238 6,642 7,182 7,658 28,720
’20 6,707 5,911 6,665 7,298 26,581
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Mar Jun Sep Dec Year
’26 467 855 1,284 — —
’25 1,092 308 717 2,397 4,514
’24 1,324 822 1,305 1,459 4,910
’23 1,123 850 1,177 1,564 4,714
’22 1,131 836 549 1,392 3,908
’21 915 877 928 1,421 4,141
’20 284 1,274 757 1,649 3,964
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Mar Jun Sep Dec Year
’26 155 516 992 — —
’25 816 10 418 2,000 3,244
’24 1,027 468 990 1,054 3,539
’23 914 674 802 1,231 3,621
’22 1,042 540 917 548 3,047
’21 715 667 2,197 (189) 3,390
’20 255 858 1,929 69 3,111
Fiscal quarters ending in the months shown.

Valuation

The price implies free cash flow after share-based pay growing 10.7% a year for ten years. It grew 6.3% a year over the last ten.

Implied
10.7%
10 years, reported
6.3%
Open the model

Target Price Range

Analyst price targets

Recommendation Rating

1.7
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to December

Ten-year view Analyst estimates Powerpack
Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 TTM Sep ’26 Trend 10 yrs 2026e 2027e 2028e Next 3/yr
Income, $m
Income, $m Revenue 25,923 25,896 25,938 25,868 26,581 28,720 31,496 36,016 36,441 38,537 39,898 +4.5% 40,004 40,960 42,297 +3.2%
Gross margin, % 38.98 38.75 39.91 39.96 39.30 39.19 35.92 38.22 39.12 28.38 34.26 (10.6) pt
EBT 1,454 3,124 2,842 3,447 3,383 4,369 3,228 5,880 6,261 3,014 5,314 +8.4%
EBT margin, % 5.61 12.06 10.96 13.33 12.73 15.21 10.25 16.33 17.18 7.82 13.32 +2.2 pt
Net income 1,645 2,842 3,331 3,944 3,569 4,314 2,726 4,968 4,623 2,466 4,093 +4.6%
Per share, $
Per share, $ Revenue 16.66 17.12 17.62 17.90 18.58 20.47 22.86 26.42 27.17 29.78 31.27 +6.7%
Earnings 1.07 1.93 2.30 2.68 2.48 3.06 1.97 3.64 3.44 1.89 3.20 +6.5%
Cash flow 1.82 1.71 2.68 2.74 2.77 2.95 2.84 3.46 3.66 3.49 3.92 +7.5%
Capex (0.70) (0.60) (0.47) (0.58) (0.60) (0.54) (0.62) (0.80) (1.02) (0.98) (1.05) +3.9%
Free cash flow 1.13 1.12 2.21 2.16 2.17 2.42 2.21 2.66 2.64 2.51 2.87 +9.3%
Book value 16.21 17.23 17.47 18.90 19.32 20.19 19.54 20.81 20.10 20.01 20.89 +2.4%
Shares, m 1,556 1,513 1,472 1,445 1,431 1,403 1,378 1,363 1,341 1,294 1,284 (2.0%)
Valuation, ×
Valuation, × P/E 42.81 21.86 18.03 20.63 23.39 21.60 33.46 20.34 17.31 28.48 20.87 24.8
P/S 2.69 2.48 2.27 3.08 3.15 3.24 2.90 2.79 2.20 1.81 2.13 2.7
P/B 2.77 2.46 2.29 2.91 3.03 3.28 3.39 3.55 2.97 2.69 3.19 2.9
EV/Sales 3.19 2.99 2.81 3.64 3.76 3.79 3.49 3.27 2.65 2.23 2.55 3.2
EV/FCF 47.21 45.94 22.46 30.14 32.17 32.09 36.10 32.54 27.25 26.53 27.72 33.2
Cash, $m
Cash, $m Operating cash flow 2,838 2,593 3,948 3,965 3,964 4,141 3,908 4,714 4,910 4,514 5,003 +5.3%
Capex (1,086) (905) (697) (843) (853) (751) (861) (1,093) (1,371) (1,270) (1,340) +1.8%
Free cash flow 1,752 1,688 3,251 3,122 3,111 3,390 3,047 3,621 3,539 3,244 3,663 +7.1%
Balance, $m
Balance, $m Working capital (5,937) (8,273) (9,133) (7,692) (5,180) (3,666) (6,640) (7,310) (6,307) (8,913) (8,611) +4.6%
Net debt 12,927 13,374 14,080 14,497 16,398 15,750 18,711 17,178 16,327 16,392 16,462 +2.7%
Shareholders’ equity 25,215 26,074 25,713 27,317 27,654 28,323 26,920 28,366 26,958 25,891 26,659 +0.3%
Returns, %
Returns, % ROA 2.63 4.54 5.28 6.18 5.37 6.37 3.93 6.96 6.59 3.50 5.70 +0.9 pt
ROIC 4.19 5.49 5.20 5.74 5.47 6.60 4.84 7.55 9.16 5.24 7.92 +1.1 pt
ROE 6.13 11.03 12.81 14.82 12.93 15.36 9.84 17.94 16.67 9.28 15.42 +3.1 pt
People
People Employees 90,000 83,000 80,000 80,000 79,000 79,000 91,000 91,000 90,000 91,000 — +0.1%
Revenue/emp, $m 0.29 0.31 0.32 0.32 0.34 0.36 0.35 0.40 0.40 0.42 — +4.4%
Negative figures in brackets.
estimates

All 10 years →

Fiscal years to Dec 2025 · latest quarter Sep 2026 · fundamentals updated 2 Nov 2026

Business profile

Updated

Mondelez International was founded in 2012, is headquartered in Chicago and is led by Chief Executive Officer Dirk Van de Put. It is a snack-food company that makes and sells chocolate, biscuits and baked snacks, alongside gum and candy, cheese and grocery products, and powdered beverages.

Its biscuit and baked-snack brands include Oreo, Ritz, LU, Clif Bar and Tate’s Bake Shop. Its chocolate brands include Cadbury Dairy Milk, Milka and Toblerone. The company sells in over 150 countries and operates in approximately 80 countries. Its products are sold mainly through retailers, distributors and digital channels rather than directly through a single customer.

Where the money comes from and where it goes Fiscal 2025

Fiscal 2025: revenue by segment, and margins
Europe 15,027 38.99%
North America 10,679 27.71%
AMEA 7,932 20.58%
Latin America 4,899 12.71%
Gross margin 28.38%
Operating margin 9.21%
Pre-tax margin 7.82%

Revenue by segment since 2009

Mondelez International, Inc. vs peers in Confectioners (Q) = latest quarter vs a year earlier

Company Market cap P/E Fwd P/E Revenue growth (Q) EPS growth (Q) FCF growth (Q) Gross margin (Q) EBIT margin (Q) Compare
MDLZ Mondelez International, Inc. $84.6B 20.9× 19.8× +2.29% (above 0%: growing) +79.84% (above 0%: growing) +137.32% (above 0%: growing) 39.37% 17.64%
HSY Hershey Company (The) $35.7B 15.2× 19.2× +2.96% (above 0%: growing) +183.11% (above 0%: growing) −14.00% (below 0%: shrinking) 46.13% 24.96% Compare
TR Tootsie Roll Industries, Inc. $2.9B 30.3× 38.6× −0.56% (below 0%: shrinking) −22.75% (below 0%: shrinking) −116.74% (below 0%: shrinking) 34.13% (1.05%) Compare
SOWG Sow Good Inc. $45.2M — (loss-making) — −56.30% (below 0%: shrinking) n/m −406.71% (below 0%: shrinking) (576.11%) 0.00% Compare
RMCF Rocky Mountain Chocolate Factory, Inc. $7.4M — (loss-making) — −2.51% (below 0%: shrinking) n/m +74.63% (above 0%: growing) 26.53% (16.31%) Compare
Median of peers $1.5B — — −1.53% — −65.37% 30.33% (0.52%)

All 5 Confectioners stocks →

Analyst rating changes each firm’s latest, last six months

Firm Date Action Rating Target
UBS Oct 30, 2026 Target raised — 68.00
Stifel Oct 30, 2026 Reiterated Buy 68.00
Jefferies Oct 30, 2026 Target raised Buy 73.00

Largest institutional holders 13F, quarter to 30 June 2026

Held by institutions 86.21%
Held by the ten largest 49.17%
Holder Shares Stake Change
Vanguard 131.72m 10.26% +1.26m
Capital Group 122.16m 9.52% +995.54k
BlackRock 105.97m 8.26% +35.41k
JPMorgan Chase 60.74m 4.73% −1.39m
State Street 59.58m 4.64% −2.20m
Invesco 45.65m 3.56% −257.41k
T. Rowe Price 33.00m 2.57% −11.03m
Geode Capital Management 30.09m 2.34% +223.22k
Fidelity (FMR) 21.68m 1.69% −2.68m
Morgan Stanley 20.59m 1.60% −2.80m
13F filings for the quarter to 30 June 2026: long positions in US-listed shares reported by managers with $100m or more, ~45 days after the quarter.

Pay and ownership Proxy statement filed 3 April 2026

Chief executive’s pay

Year Total pay Actually paid $100 invested
2025 24.52m 8.05m 104.41
2024 22.30m (4.10m) 112.30
2023 21.02m 49.73m 132.58
2022 17.93m 27.02m 119.26
2021 16.13m 26.85m 115.87

Ownership

Directors and executive officers, together less than 1%
The Vanguard Group100 Vanguard Blvd.Malvern, PA 10.40%
BlackRock, Inc. 7.70%
Capital International Investors333 South Hope Street, 6.90%
Total pay is as the Summary Compensation Table states it; actually paid revalues the year’s share awards at its end, as the SEC’s pay-versus-performance rule asks. $100 invested is what $100 in the company’s shares at the start of the earliest year shown was worth at each year’s end. Ownership is the proxy’s own table: the directors and officers as a group, and every holder of 5% or more. Read the proxy statement

Mondelez International, Inc. (MDLZ) Latest News

2 Nov

Impact 3 · · StockStory

31 Oct

Impact 3 · · StockStory

30 Oct

Impact 3 · · The Motley Fool transcript
Impact 3 · · Zacks
Impact 3 · · Moby
Impact 3 · · InvestorsHub

29 Oct

Impact 4 · · MarketBeat transcript
Impact 4 · · Investing.com earnings
Impact 3 · · Zacks
Impact 3 · · StockStory earnings
Impact 3 · · Zacks
Impact 3 · · Associated Press

28 Oct

Impact 3 · · StockStory

27 Oct

Impact 3 · · Zacks
Impact 3 · · Zacks

23 Oct

Impact 3 · · 24/7 Wall St.

22 Oct

Impact 3 · · Zacks

21 Oct

Impact 3 · · GlobeNewswire

20 Oct

Impact 3 · · fooddive.com
Impact 3 · · Simply Wall St.

19 Oct

Impact 4 · · fooddive.com
Impact 3 · · Simply Wall St.
Impact 3 · · Simply Wall St.
Impact 3 · · Trefis
Impact 3 · · TIKR
Impact 3 · · GlobeNewswire

17 Oct

Impact 4 · · 24/7 Wall St.

15 Oct

Impact 3 · · Insider Monkey

13 Oct

Impact 3 · · PR Newswire
Impact 3 · · PR Newswire

MDLZ metrics, ten years each

stockrow.com/MDLZ · Data as of Nov 2, 2026 · For information only; not investment advice. · © 2026 stockrow.com