Mondelez International (MDLZ)
Consumer Staples · $84.1B market cap · SEC CIK 0001103982
ahead of 60% of the S&P 500 · #15 of 36 in Consumer Staples
Next reports on Feb 1, 2027, after the close, with analysts expecting $0.90 in earnings per share.
52-week range $51.20 to $68.75. 3% below its 52-week high and 30% above its low.
The case for MDLZ
- Return on equity of 16%.
- Moves less than the market (beta 0.33).
- Pays a modest 2.4% dividend.
The case against
- Pricey for its growth: 20.6× earnings, where 3% a year of growth plus a 2.4% dividend would justify about 16×.
- Current liabilities exceed current assets (ratio 0.62).
- Long-term debt of $17.2B against $2.2B of cash.
What the score is made of
Each factor is half a curve over reported figures and half a rank among the other Consumer Staples companies (momentum is judged against fixed thresholds only), and the five are blended by weight. The score is where that blend places it in the S&P 500. It describes the last filing and the current price. It is not a forecast.
| Valuewhat you pay for the earnings and cash, against the growth you get | 46 |
|---|---|
| Growthhow fast revenue and earnings are moving, this year and over five | 61 |
| Profitabilityhow much of the revenue becomes profit, and how much of that is cash | 56 |
| Momentumhow the price has behaved lately | 74 |
| Stabilityhow violently it moves, what it owes and what it pays you | 59 |
- Each factor except momentum is half fixed thresholds, half rank among the 36 Consumer Staples companies.
The financials
Revenue growth
Is the business growing? Slowly
| Last 12 months | +6.0% |
|---|---|
| Over 5 years | +7.7% a year |
| FY2025 revenue | $38.5B (+6%) |
Free cash flow
Is it generating real cash? Yes
| FY2025 free cash flow | $3.2B |
|---|---|
| Of revenue | 8% |
| Of profit | 132% |
Profit margins
Is profitability improving? No, slipping
| Gross margin | 34% |
|---|---|
| Operating margin | 14% |
| Net margin, FY24 → FY25 → now | 12.7% → 6.4% → 10.2% |
Debt vs. cash
Is the balance sheet healthy? Mostly, with some debt to carry
| Cash | $2.2B |
|---|---|
| Long-term debt | $17.2B |
| Net debt | $15.0B |
| Years to repay | 3.8 yrs |
Valuation
Is the stock price reasonable? A bit pricey
| P/E | 20.6× |
|---|---|
| Fair P/E for its growth | 16× |
| P/FCF | 26.0× |
| Forward P/E | 19.7× |
| EV / EBITDA | 18.7× |
At 20.6× earnings it trades above the 16× that 3% a year of growth plus a 2.4% dividend would justify. At 26.0× free cash flow it trades well above that same mark.
The financials, five years deep
Pulled from Mondelez International's XBRL filings on SEC EDGAR. Italic rows are worked out from the others.
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|
| Revenue growth | |||||
| Revenue | $38.5B | $36.4B | $36.0B | $31.5B | $28.7B |
| Change on the year | +6% | +1% | +14% | +10% | — |
| Free cash flow | |||||
| Free cash flow | $3.2B | $3.5B | $3.6B | $3.0B | $3.2B |
| Of revenue | 8% | 10% | 10% | 10% | 11% |
| Profit margins | |||||
| Gross margin | 28.4% | 39.1% | 38.2% | 35.9% | 39.2% |
| Operating margin | 9.2% | 17.4% | 15.3% | 11.2% | 16.2% |
| Net margin | 6.4% | 12.7% | 13.8% | 8.6% | 15.0% |
| Debt vs. cash | |||||
| Cash | $2.2B | $1.4B | $1.9B | $1.9B | $3.6B |
| Long-term debt | $17.2B | $15.7B | $16.9B | $20.3B | $17.6B |
| Net cash (debt) | −$15.0B | −$14.3B | −$15.0B | −$18.3B | −$14.0B |
What Mondelez International says it does
Mondelēz International’s purpose is to empower people to snack right. We sell our products in over 150 c ountries around the world. We are one of the world’s largest snack companies with global net revenues of $38.5 billion and net earnings of $2.5 billion in 2025. Our core business is making and selling chocolate, biscuits and baked snacks. We also have additional businesses in adjacent, locally relevant categories including gum & candy, cheese & grocery and powdered beverages. Our portfolio includes iconic global and local brands such as Oreo, Ritz, LU, Clif Bar and Tate’s Bake Shop biscuits and baked snacks, as well as Cadbury Dairy Milk, Milka and Toblerone chocolate. We strive to create a positive impact on the world and communities in which we operate while driving business performance. Our goal is to lead the future of snacking around the world by offering the right snack, for the right moment, made the right way. We aim to…