What it does
The company states that it makes and sells snacks in more than 150 countries. Its core business is chocolate, biscuits and baked snacks; it also operates in gum & candy, cheese & grocery, and powdered beverages. The filing lists brands including Oreo, Ritz, LU, Clif Bar, Tate’s Bake Shop, Cadbury Dairy Milk, Milka and Toblerone. It reported global net revenues of $38.5 billion and net earnings of $2.5 billion in 2025.
Source: Mondelez International, Inc. Form 10-K for fiscal 2025, Item 1 — sec.gov
How it makes money
The company generates revenue by selling snacks across five categories: Biscuits & Baked Snacks, Chocolate, Gum & Candy, Beverages, and Cheese & Grocery. As shown in the product table, Biscuits & Baked Snacks generated $18.4 billion in FY2025 revenue, while Chocolate generated $12.7 billion. The company organizes operations into four regional operating segments—Latin America, AMEA, Europe and North America—and states that regional teams oversee the business, product categories and financial results in their regions. The segment table below provides the full regional revenue breakdown.
| Product or service | Revenue, FY2025 | Share | Change on the year |
|---|---|---|---|
| Biscuits & Baked Snacks | $18.4 billion | 47.7% | 3.31% |
| Chocolate | $12.7 billion | 32.9% | 12.9% |
| Gum & Candy | $4.1 billion | 10.5% | 0.50% |
| Cheese & Grocery | $2.4 billion | 6.19% | 5.72% |
| Beverages | $1.0 billion | 2.61% | −8.21% |
Source: Mondelez International, Inc. Form 10-K for fiscal 2025, Item 1 — sec.gov
Customers and geography
The filing states that the company sells through supermarket chains, wholesalers, supercenters, club stores, mass merchandisers, distributors, convenience stores, gasoline stations, drug stores, value stores and other food retailers. It also sells directly to businesses and consumers through e-retail, retailer digital, direct-to-consumer and social-media platforms. No single customer accounted for 10% or more of continuing-operations net revenues in 2025. The company operated in approximately 80 countries; revenue outside the United States represented 75.8% in 2025.
| Region | Revenue, FY2025 | Share | Change on the year |
|---|---|---|---|
| Other | $29.2 billion | 75.8% | 8.24% |
| United States | $9.3 billion | 24.2% | −1.33% |
Source: Mondelez International, Inc. Form 10-K for fiscal 2025, Item 1 — sec.gov
Competition
The company states that it operates in highly competitive markets with global, regional and local competitors, including start-up brands and businesses. The filing does not name specific competitors. It says competition is based on factors including product quality, brand recognition and loyalty, service, innovation, taste, convenience, nutritional value, consumer insight, sales and marketing, distribution, promotions and price. The company also notes that some competitors may have different profit objectives and investment time horizons, which may affect their pricing and promotional decisions.
Source: Mondelez International, Inc. Form 10-K for fiscal 2025, Item 1 — sec.gov
Key risks
- Commodity and other input prices are volatile, and commodity availability may become constrained.
- The business is subject to an increasing focus on sustainability matters.
- The company faces risks in complying with changes in, and inconsistencies among, laws and regulations across many countries.
- Tax risks include changes in tax laws and rates, disagreements with taxing authorities and new taxes.
- Acquisitions and joint ventures can expose the company to risks in aligning controls, policies, procedures, cultures, operations and legal compliance.
Source: Mondelez International, Inc. Form 10-K for fiscal 2025, Item 1A — sec.gov
People and operations
At December 31, 2025, the company had approximately 91,000 employees, including approximately 12,000 in the United States and approximately 79,000 outside it. It had operations in approximately 80 countries and 145 principal manufacturing and processing facilities across 49 countries. The company states that demand is generally balanced through the year, with fourth-quarter increases primarily tied to holidays and other seasonal events. It also notes that the timing of Easter can shift holiday sales between the first and second quarters.
Source: Mondelez International, Inc. Form 10-K for fiscal 2025, Item 1 — sec.gov