Mondelez International, Inc. MDLZ
Mondelēz International's purpose is to empower people to snack right. We sell our products in over 150 countries 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 deliver a broad range of delicious, high-quality snacks that nourish life's moments, made with sustainable ingredients and packaging.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $38.54B | $36.44B | $36.02B | $31.50B | $28.72B | $26.58B | $25.87B | $25.94B | $25.90B | $25.92B |
| Cost of revenue | $27.60B | $22.18B | $22.25B | $20.18B | $17.47B | $16.14B | $15.53B | $15.59B | $15.86B | $15.82B |
| Gross profit | $10.94B | $14.26B | $13.76B | $11.31B | $11.25B | $10.45B | $10.34B | $10.35B | $10.03B | $10.10B |
| R&D | $400.0M | $400.0M | $380.0M | $346.0M | $347.0M | $332.0M | $351.0M | $362.0M | $366.0M | $376.0M |
| SG&A | $7.17B | $7.44B | $8.00B | $7.38B | $6.26B | $6.10B | $6.14B | $6.47B | $5.94B | $6.55B |
| Operating income | $3.55B | $6.34B | $5.50B | $3.53B | $4.65B | $3.85B | $3.84B | $3.31B | $3.46B | $2.55B |
| Pre-tax income | $3.01B | $6.26B | $5.88B | $3.23B | $4.37B | $3.38B | $3.45B | $2.84B | $3.12B | $1.45B |
| Income tax | $782.0M | $1.47B | $1.54B | $865.0M | $1.19B | $1.22B | $2.0M | $773.0M | $666.0M | $114.0M |
| Net income | $2.45B | $4.61B | $4.96B | $2.72B | $4.30B | $3.56B | $3.93B | $3.32B | $2.83B | $1.64B |
| EPS, basic | 1.89 | 3.44 | 3.64 | 1.97 | 3.06 | 2.48 | 2.72 | 2.25 | 1.87 | 1.05 |
| EPS, diluted | 1.89 | 3.42 | 3.62 | 1.96 | 3.04 | 2.47 | 2.69 | 2.23 | 1.85 | 1.04 |
| Shares, diluted (wtd. avg.) | $1.30B | $1.35B | $1.37B | $1.39B | $1.41B | $1.44B | $1.46B | $1.49B | $1.53B | $1.57B |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $2.19B | $1.40B | $1.88B | $1.95B | $3.55B | $3.65B | $1.33B | $1.10B | $761.0M | $1.74B |
| Receivables | $3.90B | $3.87B | $3.63B | $3.09B | $2.34B | $2.30B | $2.21B | $2.26B | $2.69B | $2.61B |
| Inventory | $4.42B | $3.83B | $3.62B | $3.38B | $2.71B | $2.65B | $2.55B | $2.59B | $2.56B | $2.47B |
| Total current assets | $12.95B | $13.24B | $11.70B | $10.09B | $10.34B | $9.98B | $7.63B | $7.60B | $7.52B | $8.48B |
| Property, plant and equipment | — | — | — | — | — | — | — | $8.48B | $8.68B | $8.23B |
| Goodwill | $24.34B | $23.02B | $23.90B | $23.45B | $21.98B | $21.89B | $20.85B | $20.73B | $21.09B | $20.28B |
| Other intangibles | $19.63B | $18.85B | $19.84B | $19.71B | $18.29B | $18.48B | $17.96B | $18.00B | $18.64B | $18.10B |
| Total assets | $71.49B | $68.50B | $71.39B | $71.16B | $67.09B | $67.81B | $64.52B | $62.62B | $62.96B | $61.51B |
| Accounts payable | $10.14B | $9.43B | $8.32B | $7.56B | $6.73B | $6.21B | $5.85B | $5.79B | $5.71B | $5.32B |
| Short-term debt | $2.69B | $71.0M | $420.0M | $2.30B | $216.0M | $29.0M | $2.64B | $3.19B | $3.52B | $2.53B |
| Total current liabilities | $21.86B | $19.55B | $19.01B | $16.73B | $14.01B | $15.16B | $15.32B | $16.74B | $15.79B | $14.42B |
| Long-term debt | — | — | — | — | — | — | $15.88B | $15.25B | $14.20B | $14.74B |
| Total liabilities | $45.60B | $41.54B | $43.02B | $44.24B | $38.77B | $40.16B | $37.20B | $37.02B | $36.88B | $36.32B |
| Retained earnings | $36.41B | $36.48B | $34.24B | $31.48B | $30.81B | $28.40B | $26.61B | $24.49B | $22.63B | $21.15B |
| Total equity | $25.84B | $26.93B | $28.37B | $26.92B | $28.32B | $27.65B | $27.32B | $25.60B | $26.02B | $25.20B |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $4.51B | $4.91B | $4.71B | $3.91B | $4.14B | $3.96B | $3.96B | $3.95B | $2.59B | $2.84B |
| Depreciation and amortisation | $853.0M | $810.0M | $741.0M | $690.0M | $683.0M | $652.0M | $645.0M | $635.0M | $638.0M | $647.0M |
| Stock-based compensation | $114.0M | $147.0M | $146.0M | $120.0M | $121.0M | $126.0M | $135.0M | $128.0M | $137.0M | $140.0M |
| Capital expenditure | $1.28B | $1.39B | $1.11B | $906.0M | $965.0M | $863.0M | $925.0M | $1.09B | $1.01B | $1.22B |
| Investing cash flow | -$1.20B | $526.0M | $2.81B | -$4.89B | -$26.0M | $500.0M | -$960.0M | -$1.22B | -$301.0M | -$1.03B |
| Financing cash flow | -$2.76B | -$5.78B | -$7.56B | -$456.0M | -$4.07B | -$2.21B | -$2.79B | -$2.33B | -$3.36B | -$1.86B |
| Dividends paid | $2.49B | $2.35B | $2.16B | $1.99B | $1.83B | $1.68B | $1.54B | $1.36B | $1.20B | $1.09B |
| Buybacks | $2.38B | $2.33B | $1.55B | $2.02B | $2.11B | $1.39B | $1.48B | $2.02B | $2.17B | $2.60B |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001628280-26-005345.
Others in SIC 2000
| Ticker | Company | Market cap | P/E | Revenue growth |
|---|---|---|---|---|
| CAG | CONAGRA BRANDS INC. | $7.41B | — | -2.9% |
| CPB | CAMPBELL'S Co | $6.38B | 10.6x | 6.4% |
| BYND | BEYOND MEAT, INC. | $6.08B | — | -15.6% |
| FLO | FLOWERS FOODS INC | $1.33B | 15.7x | 3.0% |
| BRBR | BELLRING BRANDS, INC. | $1.21B | 6.2x | 16.1% |
| SMPL | Simply Good Foods Co | $1.01B | 11.2x | 9.0% |
| VITL | Vital Farms, Inc. | $425.9M | 6.9x | 25.3% |
| BGS | B&G Foods, Inc. | $267.4M | — | -5.4% |