Mondelez International, Inc. financial statements

Income statement, balance sheet and cash flow statement for the last 10 fiscal years, taken from the XBRL data Mondelez International, Inc. files with the SEC in its annual reports.

In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.

Income statement

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Revenue	25,923	25,896	25,938	25,868	26,581	28,720	31,496	36,016	36,441	38,537
Cost of revenue	15,819	15,862	15,586	15,531	16,135	17,466	20,184	22,252	22,184	27,602
Gross profit	10,104	10,034	10,352	10,337	10,446	11,254	11,312	13,764	14,257	10,935
Research and development	376	366	362	351	332	347	346	380	400	400
Selling, general and administrative	6,546	5,938	6,475	6,136	6,098	6,263	7,384	8,002	7,439	7,173
Operating income	2,554	3,462	3,312	3,843	3,853	4,653	3,534	5,502	6,345	3,548
Interest expense	515	396	462	484	423	365	428	550	508	599
Other non-operating income	-1,115	-382	-520	-456	-608	-447	-423	-310	-180	-282
Pre-tax income	1,454	3,124	2,842	3,447	3,383	4,369	3,228	5,880	6,261	3,014
Income tax	114	666	773	2	1,224	1,190	865	1,537	1,469	782
Net income to minority interests	10	14	14	15	14	14	9	9	12	15
Net income	1,635	2,828	3,317	3,929	3,555	4,300	2,717	4,959	4,611	2,451
EBITDA	3,377	4,278	4,123	4,890	4,969	5,766	4,641	6,717	7,647	4,906
EPS, basic	1.05	1.87	2.25	2.72	2.48	3.06	1.97	3.64	3.44	1.89
EPS, diluted	1.04	1.85	2.23	2.69	2.47	3.04	1.96	3.62	3.42	1.89
Shares, basic (weighted)	1,556	1,513	1,472	1,445	1,431	1,403	1,378	1,363	1,341	1,294
Shares, diluted (weighted)	1,573	1,531	1,486	1,458	1,441	1,413	1,385	1,370	1,347	1,298
Dividend per share	0.72	0.82					1.47	1.62	1.79	1.94

Balance sheet

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Cash and equivalents	1,741	761	1,100	1,328	3,650	3,553	1,948	1,884	1,400	2,195
Receivables	2,611	2,691	2,262	2,212	2,297	2,337	3,088	3,634	3,874	3,903
Inventory	2,469	2,557	2,592	2,546	2,647	2,708	3,381	3,615	3,827	4,419
Other current assets	800	676	906	866	759	900	880	1,766	3,253	1,549
Total current assets	8,480	7,520	7,604	7,630	9,979	10,342	10,091	11,703	13,242	12,951
Property, plant and equipment	8,229	8,677	8,482	8,733	9,026	8,658	9,020	9,694	9,481	10,667
Lease right-of-use assets			0	568	638	613	660	683	767	731
Goodwill	20,276	21,085	20,725	20,848	21,895	21,978	23,450	23,896	23,017	24,336
Intangible assets	18,101	18,639	18,002	17,957	18,482	18,291	19,710	19,836	18,848	19,628
Other non-current assets	350	366	406	359	292	371	1,862	886	1,187	951
Total assets	61,506	62,957	62,618	64,515	67,810	67,092	71,161	71,391	68,497	71,487
Accounts payable	5,318	5,705	5,794	5,853	6,209	6,730	7,562	8,321	9,433	10,139
Accrued liabilities	736	721	701	769	834	822	949	1,158	928	1,000
Short-term debt	1,451	1,163	2,648	1,581	2,741	1,746	383	2,101	2,014	1,295
Total current liabilities	14,417	15,793	16,737	15,322	15,159	14,008	16,731	19,013	19,549	21,864
Long-term debt	13,217	12,972	12,532	14,207	17,276	17,550	20,251	16,887	15,664	17,222
Lease liabilities			0	403	470	459	514	537	623	599
Other non-current liabilities	1,572	2,689	2,623	2,351	2,302	2,326	2,688	2,735	1,789	1,885
Total liabilities	36,323	36,883	37,016	37,198	40,156	38,769	44,241	43,025	41,539	45,596
Total debt	14,737	14,199	15,250	15,875	20,017	19,296	20,634	18,988	17,678	18,517
Paid-in capital	31,847	31,915	31,961	32,019	32,070	32,097	32,143	32,216	32,276	32,322
Retained earnings	21,149	22,631	24,491	26,615	28,402	30,806	31,481	34,236	36,476	36,413
Treasury stock	-16,713	-18,555	-20,185	-21,139	-22,204	-24,010	-25,794	-27,174	-29,349	-31,533
Other comprehensive income	-11,122	-9,997	-10,630	-10,254	-10,690	-10,624	-10,947	-10,946	-12,471	-11,364
Shareholders' equity	25,161	25,994	25,637	27,241	27,578	28,269	26,883	28,332	26,932	25,838
Minority interests	54	80	76	76	76	54	37	34	26	53
Total equity	25,195	26,025	25,602	27,317	27,654	28,323	26,920	28,366	26,958	25,891
Total liabilities and equity	61,538	62,957	62,729	64,515	67,810	67,092	71,161	71,391	68,497	71,487

Cash flow statement

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Net income	1,645	2,842	3,331	3,944	3,569	4,314	2,726	4,968	4,623	2,466
Depreciation and amortization	823	816	811	1,047	1,116	1,113	1,107	1,215	1,302	1,358
Stock-based compensation	140	137	128	135	126	121	120	146	147	114
Deferred income tax	-156	-1,228	233	-631	-70	205	-42	-37	257	16
Change in receivables	31	-24	257	124	59	-197	-719	-628	-519	433
Change in inventory	62	-18	-204	31	-24	-170	-635	-193	-458	-253
Change in payables	409	5	236	4	436	702	715	264	1,682	-145
Cash from operations	2,838	2,593	3,948	3,965	3,964	4,141	3,908	4,714	4,910	4,514
Capital expenditures	-1,224	-1,014	-1,095	-925	-863	-965	-906	-1,112	-1,387	-1,279
Acquisitions	-246	0	-528	-284	-1,136	-833	-5,286	19	-240	-15
Purchases of investments						-30	-24	-309	-278
Cash from investing	-1,029	-301	-1,224	-960	500	-26	-4,888	2,812	526	-1,196
Debt issued	5,640	350	2,948	3,136	7,213	5,921	4,490	277	1,671	1,594
Debt repaid	-6,186	-1,470	-1,821	-2,677	-3,878	-6,247	-3,032	-2,432	-2,554	-2,077
Stock issued	221	257	231	369	236	206	158	152	175	94
Share buybacks	-2,601	-2,174	-2,020	-1,480	-1,390	-2,110	-2,017	-1,547	-2,334	-2,385
Dividends paid	-1,094	-1,198	-1,359	-1,542	-1,678	-1,826	-1,985	-2,160	-2,349	-2,487
Cash from financing	-1,862	-3,361	-2,329	-2,787	-2,215	-4,069	-456	-7,558	-5,780	-2,759
Exchange rate effect	-76	89	-56	10	73	-143	-169	-32	-140	236
Net change in cash	-129	-980	339	228	2,322	-97	-1,605	-64	-484	795
Free cash flow	1,614	1,579	2,853	3,040	3,101	3,176	3,002	3,602	3,523	3,235
Interest paid	630	398	491	486	413	426	551	568	554	570
Income taxes paid	527	848	864	981	1,264	1,556	1,103	1,607	1,474	1,074

Key metrics

Worked out from the statements above. Latest values use the trailing twelve months to March 31, 2026; growth uses fiscal years. Valuation uses the share price of $60.25 on September 25, 2026.

Profitability

Metric	Value	How it is calculated
Gross margin	28.8%	Gross profit / revenue.
Operating margin	9.4%	Operating income / revenue.
EBITDA margin	12.2%	EBITDA (operating income + depreciation and amortization) / revenue.
Pre-tax margin	8.3%	Pre-tax income / revenue.
Net margin	6.6%	Net income / revenue.
FCF margin	6.6%	Free cash flow (cash from operations - capital expenditures) / revenue.
Operating cash flow margin	9.9%	Cash from operations / revenue.
Effective tax rate	26.4%	Income tax / pre-tax income, when pre-tax income is positive.
Return on equity (ROE)	10.1%	Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)	3.7%	Net income / average total assets.
Return on invested capital (ROIC)	6.4%	Approximation: operating income x (1 - tax rate) / average (total debt + equity - cash). Tax rate is the effective rate when between 0% and 50%, else 21%.
SG&A / revenue	18.8%	Selling, general and administrative expense / revenue.
Stock-based pay / revenue	0.3%	Stock-based compensation (from the cash flow statement) / revenue.
Capex / revenue	3.3%	Capital expenditures / revenue.
D&A / revenue	2.9%	Depreciation and amortization / revenue.

Growth

Metric	Value	How it is calculated
Revenue growth, 1y	5.8%	Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y	7.0%	Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y	7.7%	Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Gross profit growth, 1y	-23.3%	Gross profit vs the same period a year earlier. Only from a positive base.
Gross profit CAGR, 3y	-1.1%	Compound annual growth of gross profit over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Gross profit CAGR, 5y	0.9%	Compound annual growth of gross profit over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating income growth, 1y	-44.1%	Operating income vs the same period a year earlier. Only from a positive base.
Operating income CAGR, 3y	0.1%	Compound annual growth of operating income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating income CAGR, 5y	-1.6%	Compound annual growth of operating income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
EBITDA growth, 1y	-35.8%	EBITDA vs the same period a year earlier. Only from a positive base.
EBITDA CAGR, 3y	1.9%	Compound annual growth of ebitda over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EBITDA CAGR, 5y	-0.3%	Compound annual growth of ebitda over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Net income growth, 1y	-46.8%	Net income vs the same period a year earlier. Only from a positive base.
Net income CAGR, 3y	-3.4%	Compound annual growth of net income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Net income CAGR, 5y	-7.2%	Compound annual growth of net income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
EPS growth, 1y	-44.7%	EPS vs the same period a year earlier. Only from a positive base.
EPS CAGR, 3y	-1.2%	Compound annual growth of eps over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EPS CAGR, 5y	-5.2%	Compound annual growth of eps over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating cash flow growth, 1y	-8.1%	Operating cash flow vs the same period a year earlier. Only from a positive base.
Operating cash flow CAGR, 3y	4.9%	Compound annual growth of operating cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating cash flow CAGR, 5y	2.6%	Compound annual growth of operating cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Free cash flow growth, 1y	-8.2%	Free cash flow vs the same period a year earlier. Only from a positive base.
Free cash flow CAGR, 3y	2.5%	Compound annual growth of free cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Free cash flow CAGR, 5y	0.8%	Compound annual growth of free cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Dividend per share growth, 1y	8.4%	Dividend per share vs the same period a year earlier. Only from a positive base.
Dividend per share CAGR, 3y	9.7%	Compound annual growth of dividend per share over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Book value growth, 1y	-4.1%	Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y	-1.3%	Compound annual growth of book value over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Book value CAGR, 5y	-1.3%	Compound annual growth of book value over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Total assets growth, 1y	4.4%	Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y	0.2%	Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets CAGR, 5y	1.1%	Compound annual growth of total assets over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Share count change, 1y	-3.6%	Change in diluted weighted shares vs a year earlier. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 3y	-2.1%	Change in diluted weighted shares, per year over 3 years. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 5y	-2.1%	Change in diluted weighted shares, per year over 5 years. Negative means buybacks shrank the share count; positive means dilution.

Balance sheet health

Metric	Value	How it is calculated
Current ratio	0.54x	Current assets / current liabilities.
Quick ratio	0.26x	(Cash + short-term investments + receivables) / current liabilities.
Cash ratio	0.07x	(Cash + short-term investments) / current liabilities.
Debt / equity	0.70x	Total debt / shareholders' equity. Not shown when equity is negative.
Debt / assets	25.5%	Total debt / total assets.
Liabilities / assets	63.7%	Total liabilities / total assets.
Net debt	$16.51B	Total debt - cash - short-term investments. Negative means more cash than debt.
Net debt / EBITDA	3.44x	Net debt / EBITDA (twelve months), when EBITDA is positive.
Interest coverage	6.03x	Operating income / interest expense.
Working capital	-$10.76B	Current assets - current liabilities.
Goodwill and intangibles / assets	61.5%	(Goodwill + intangible assets) / total assets.
Tangible book value	-$18.01B	Shareholders' equity - goodwill - intangible assets.

Efficiency

Metric	Value	How it is calculated
Asset turnover	0.55x	Revenue / average total assets.
Fixed asset turnover	3.72x	Revenue / average property, plant and equipment.
Inventory turnover	6.86x	Cost of revenue / average inventory.
Days inventory	53 days	365 x average inventory / cost of revenue.
Receivables turnover	8.94x	Revenue / average receivables.
Days sales outstanding	41 days	365 x average receivables / revenue.
Days payables	127 days	365 x average accounts payable / cost of revenue.
Cash conversion cycle	-33 days	Days inventory + days sales outstanding - days payables.
FCF conversion	98.7%	Free cash flow / net income, when net income is positive.
Capex / operating cash flow	33.8%	Capital expenditures / cash from operations, when that is positive.

Per share

Metric	Value	How it is calculated
EPS, diluted	$2.03	Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS.
Revenue per share	$30.56	Revenue / diluted weighted shares.
FCF per share	$2.00	Free cash flow / diluted weighted shares.
Operating cash flow per share	$3.02	Cash from operations / diluted weighted shares.
Book value per share	$20.02	Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Tangible book per share	-$14.00	Tangible book value / shares outstanding.
Cash per share	$1.27	(Cash + short-term investments) / shares outstanding.
Payout ratio	96.1%	Dividends paid / net income, when net income is positive.
Dividends / FCF	97.4%	Dividends paid / free cash flow, when free cash flow is positive.
Buybacks / FCF	33.5%	Share buybacks / free cash flow, when free cash flow is positive.

Valuation

Metric	Value	How it is calculated
Market cap	$76.90B	Share price x shares outstanding.
Enterprise value	$93.41B	Market cap + total debt - cash - short-term investments.
P/E	29.5x	Market cap / net income. Only when net income is positive.
P/S	1.96x	Market cap / revenue.
P/B	2.99x	Market cap / shareholders' equity. Only when equity is positive.
P/FCF	29.9x	Market cap / free cash flow. Only when free cash flow is positive.
P/OCF	19.8x	Market cap / cash from operations, when positive.
EV/Sales	2.38x	Enterprise value / revenue.
EV/EBIT	25.4x	Enterprise value / operating income, when both are positive.
EV/EBITDA	19.5x	Enterprise value / EBITDA, when both are positive.
EV/FCF	36.3x	Enterprise value / free cash flow, when both are positive.
FCF yield	3.3%	Free cash flow / market cap.
Earnings yield	3.4%	Net income / market cap (the inverse of P/E).
Dividend yield	3.3%	Dividends paid over the period / market cap.
Shareholder yield	4.4%	(Dividends paid + share buybacks) / market cap.

What was Mondelez International, Inc.'s revenue in fiscal 2025?

Mondelez International, Inc. reported revenue of $38.54B for fiscal 2025, 5.8% higher than the year before.

Was Mondelez International, Inc. profitable in fiscal 2025?

Yes. Net income was $2.45B, a net margin of 6.4%.

How much free cash flow did Mondelez International, Inc. generate in fiscal 2025?

Cash from operations of $4.51B minus capital expenditures of $1.28B left free cash flow of $3.24B.

Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.

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