One-glance verdict
Overvalued
$48.45 our estimate vs market $65.19
Wall Street consensus: $69.09 (42.6% higher than our fair-value estimate)
35% above our estimate, beyond the bull case
Fundamentals snapshot
Mondelez International, Inc.
MDLZ · NMS · Consumer Defensive · Confectioners
Current price
$65.19
52-week range
$51.20 - $66.65
Market cap
$83.20B
Balance sheet
Watch
6.04x Adequate
Net debt $20.34B. Interest coverage shows how many times profit covers the interest bill.
What stands out
3 Rewards
1 Risk
3 rewards · 1 risks
- Reward Revenue grew 2.0% last year.
- Reward Returns 13.3% on equity, ahead of 33% of its peers.
- Reward Free cash flow was positive in 10/10 years.
- Risk Insider ownership is only 0.2% (peer median: 0.3%).
What this company does
Mondelez International, Inc.
Mondelez International makes and sells popular snack foods and drinks like Oreos and Cadbury chocolate around the world. The company makes most of its money from selling these well-known brands in grocery stores and other shops. This matters because it shows how successful they are at getting people to buy their products regularly.
How the company got here
Mondelez International, Inc. wasn't always known by its current name. It was formerly part of Kraft Foods Inc., a company with a long history in the food industry. In 2012, Kraft Foods Inc. split into two companies: one focused on grocery items (which kept the Kraft name) and the other on global snacks (which became Mondelez International). This strategic move allowed Mondelez to concentrate on its portfolio of well-known snack brands and expand its international presence. The company was officially incorporated in 2000 and is headquartered in Chicago, Illinois.
What it actually does
Mondelez International is a global giant in the snack food and beverage industry. Think of the cookies, chocolates, and crackers you see in the snack aisle at your local supermarket – many of those are made by Mondelez. They manufacture, market, and sell a wide variety of treats that people enjoy around the world. Their products are distributed through various channels, from large supermarket chains to smaller convenience stores, and increasingly, through online platforms directly to consumers.
Biscuits and Baked Snacks
This is a major part of Mondelez's business, encompassing a wide range of products that are baked. It includes iconic cookie brands like Oreo and Ritz crackers, as well as other baked goods such as snack bars, cakes, and pastries. These products are sold globally to consumers who enjoy them as treats or with meals. This segment represents a significant portion of the company's overall revenue, making it a cornerstone of their operations.
Chocolates
Mondelez is also a powerhouse in the global chocolate market. They produce and sell beloved chocolate brands like Cadbury Dairy Milk, Milka, and Toblerone. These chocolates are enjoyed by millions worldwide and are a key driver of the company's sales, particularly in Europe and emerging markets. This segment contributes a substantial share to Mondelez's total income.
Gums and Candies
Beyond cookies and chocolates, Mondelez also has a significant presence in the gums and candies category. This includes a variety of confectionery products that cater to consumers looking for smaller, on-the-go treats. While perhaps not as large as their biscuit or chocolate businesses, this segment still represents a valuable slice of their overall sales and provides a diverse offering to their customer base.
What management is betting on now
Mondelez's current strategy focuses on accelerating growth by strengthening its core brands and expanding into new areas. They are investing in innovation to develop new products that appeal to changing consumer tastes, such as healthier snack options. Additionally, the company is prioritizing digital transformation, aiming to improve its e-commerce capabilities and direct-to-consumer sales channels. This focus on both product development and digital reach is intended to drive future revenue and profitability.
Price history
How the share price has moved
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Loading price history…
Earnings history
Last 8 quarters — what happened
Click any quarter to read the call summary and what the numbers say.
FY2024 Q2
$455.00M
FY2024 Q3
$989.00M
FY2024 Q4
$1.05B
FY2025 Q1
$815.00M
FY2025 Q2
$3.00M
FY2025 Q3
$418.00M
FY2025 Q4
$2.00B
FY2026 Q1
$155.00M
Revenue
$10.08B
Net income
$560.00M
Diluted EPS
0.44
Operating cash flow
$467.00M
Free cash flow
$155.00M
Fetching…
Sources
Revenue
$10.50B
Net income
$665.00M
Diluted EPS
0.52
Operating cash flow
$2.40B
Free cash flow
$2.00B
Fetching…
Sources
Revenue
$9.74B
Net income
$743.00M
Diluted EPS
0.57
Operating cash flow
$717.00M
Free cash flow
$418.00M
Fetching…
Sources
Revenue
$8.98B
Net income
$641.00M
Diluted EPS
0.49
Operating cash flow
$308.00M
Free cash flow
$3.00M
Fetching…
Sources
Revenue
$9.31B
Net income
$402.00M
Diluted EPS
0.31
Operating cash flow
$1.09B
Free cash flow
$815.00M
Fetching…
Sources
Revenue
$9.60B
Net income
$1.75B
Diluted EPS
1.30
Operating cash flow
$1.46B
Free cash flow
$1.05B
Fetching…
Sources
Revenue
$9.20B
Net income
$853.00M
Diluted EPS
0.63
Operating cash flow
$1.30B
Free cash flow
$989.00M
Fetching…
Sources
Revenue
$8.34B
Net income
$601.00M
Diluted EPS
0.45
Operating cash flow
$822.00M
Free cash flow
$455.00M
Fetching…
Sources
Is it cheap or expensive?
Fair value $48.45 vs current price $65.19
Wall Street consensus is the average analyst price target: $69.09 (42.6% higher than our fair-value estimate).
Our most-likely fair value is $48.45 a share — about 25.7% below today's price of $65.19, so the stock currently looks expensive (overvalued).
Is it drowning in debt?
Watch
Net debt $20.3B. Interest coverage 6.0x.
Net debt
$20.34B
Interest coverage
6.04x
Mondelez International, Inc.'s profit covers its interest bill about 6.0 times over. which is stronger than most peers shown here.
Watch
Worse cushion
Baseline
Better cushion
MDLZ
BASELINE
Mondelez International, Inc.
Total debt $22.06B Interest coverage 6.04x This is the baseline the peer rows are being compared against.
Total debt $5.92B Interest coverage 6.50x +8% vs MDLZ Has roughly the same debt cushion as MDLZ.
Total debt $51.88B Interest coverage 12.03x +99% vs MDLZ Carries about 2.0x more debt cushion than MDLZ.
Total debt $76.28B Interest coverage 7.67x +27% vs MDLZ Carries about 1.3x more debt cushion than MDLZ.
Total debt $19.00B Interest coverage 4.90x -19% vs MDLZ Carries about 1.2x less debt cushion than MDLZ.
Total debt $13.62B Interest coverage 4.93x -18% vs MDLZ Carries about 1.2x less debt cushion than MDLZ.
What you should know
The case for and against MDLZ
3 Rewards
1 Risk
Rewards
-
Revenue grew 2.0% last year.
-
Returns 13.3% on equity, ahead of 33% of its peers.
-
Free cash flow was positive in 10/10 years.
Risks
-
Insider ownership is only 0.2% (peer median: 0.3%).
The numbers
All the key metrics, grouped by purpose
Tap any ? icon to learn what it means.
Valuation
How expensive the stock looks
P/E (TTM)
23.97x
Forward P/E
19.41x
P/B
3.13x
P/S
2.10x
EV/EBITDA
17.04x
PEG ratio
0.93x
Profitability
How much profit each dollar creates
Gross margin
31.1%
Operating margin
22.0%
Net margin
8.9%
ROE
13.3%
ROA
4.1%
Health
Liquidity and balance-sheet strength
Debt / equity
0.83x
Current ratio
0.60x
Quick ratio
0.31x
Total debt
$22.06B
Total cash
$1.72B
Growth
How the business has been compounding
Revenue TTM
$39.30B
Revenue 5Y CAGR
7.6%
EPS TTM
2.72
EPS 5Y CAGR
-1.2%
Cash flow
How much cash the business throws off
Operating CF TTM
$3.89B
Free CF TTM
$3.23B
FCF margin
8.2%
Dividend
Shareholder payout
Yield
3.2%
Payout ratio
73.5%
Last ex-div date
2026-09-30