Mondelez International, Inc. (MDLZ)
Consumer Staples · Packaged Foods & Meats · US stock · S&P 500 component
$65.19
▲ +2.45 (3.91%)
Fair valueFair
$66 +1.8% to fair value
$33fair band $56–$80$100
Day's range
$63.31 – $65.22
52-week range
$51.20 – $66.65
Red flags⚠ Dividend may be at risk⚠ Dividend may be at risk⚠ Dividend may be at risk⚠ Dividend may be at risk⚠ Dividend may be at risk
About Mondelez International, Inc.
Snacks are the focus at Mondelez International, a global company whose portfolio spans biscuits, chocolate, gum, candy and baked snacks. Its brands include Oreo, Cadbury, Milka and Toblerone, and it markets them in many countries. Customers are mainly supermarkets, convenience stores, wholesalers and other retailers. The business is managed by geographic region, covering Europe, North America, Latin America and a combined region for Asia, the Middle East and Africa.
Sales reached $39.3 billion over the last twelve months, earned by supplying snacks to retailers and distributors around the world. Sales have grown at 7.0% a year across the last three years. The operating margin is 9.4%, the business earns 6% on the capital invested in it, and net debt is 3.8 times EBITDA. The dividend yield is 3.1%. On the site's X-Ray Score it receives 36 out of 100.
Price chart
52-wk range $51.20 – $66.65Volume 9,144,068Daily, split-adjusted
Vitals
Market cap$83.8B
52-week range$51.20 – $66.65
Volume (last day)9,144,068
P/E (TTM)32.4
EBIT / EV yield3.6%
Free-cash-flow yield3.1%
Dividend yield3.1%
Revenue (TTM)$39.3B
Net income (TTM)$2.6B
Operating margin9.4%
Return on capital6.0%
Debt incl. leases$21.0B
Cash & securities$1.6B
Debt = borrowings plus lease liabilities. Cash & securities = cash, equivalents and short-term marketable securities (long-term securities are not counted, so net cash can be understated for companies that hold large long-term investments). Net debt = debt minus cash & securities. Source: latest SEC 10-Q/10-K. EBIT / EV yield = operating profit divided by market cap plus net debt.
Fair value estimate
$66middle half of models $58 – $73
Fair
+1.8% to fair value
Average of the 14 valuation models that pass our checks: multiples, discounted cash flow, dividend discount and earnings power value. A model more than 100% above or 60% below the price is left out as unrealistic. Model uncertainty is High, based on how far apart the models are. Undervalued or Overvalued means the gap to fair value is more than 17.5%.
Price $65
Undervalued < $56Fair $56 – $80Overvalued > $80
P/E multiple
$62
P/B multiple
$64
P/S multiple
$66
EV/EBITDA multiple
$59
EV/EBIT multiple
$57
EV/revenue multiple
$67
10-year DCF, EBITDA exit
$73
5-year DCF, EBITDA exit
$72
10-year DCF, revenue exit
$74
5-year DCF, revenue exit
$75
10-year DCF, growth exit
$44
5-year DCF, growth exit
$39
Dividend discount, stable
$122
Dividend discount, multi-stage · not used
$253
Earnings power value
$57
Growth the price implies
17.2%/yr
A model estimate, not a price target or recommendation. Inputs: risk-free 5.13%, equity risk premium 4.30% (Damodaran). How it works.
What this means
Weak business, fairly priced
The price sits inside our fair-value band. A high score does not guarantee a good outcome; it shifts the odds a little. Use the checklist as a prompt for your own research.
Before you invest · decision checklist
Ticked boxes are filled in from our data; the rest are yours to answer.
The five-lens scan
Every score explained in one sentence, ranked against Consumer Staples peers. Open a lens to see the numbers behind it.
Strong: 70 to 100Fair: 50 to 69Weak: under 50No score: not enough data
Valuation
Weak
29/100
Expensive against its sector on earnings and cash flow.
See the numbers →
EBIT / EV yield3.6%
Free-cash-flow yield3.1%
Fair value vs price1.0×
Growth
Fair
62/100
Growing at a typical pace for its sector.
See the numbers →
Revenue growth (3y)7.0%
EPS growth (3y)-1.2%
Growth consistency90%
Profitability
Weak
29/100
Earns lower returns on its capital than most peers.
See the numbers →
Return on invested capital6.0%
Operating margin9.4%
Gross profitability15.9%
Financial health
Weak
19/100
Balance sheet is more stretched than most peers.
See the numbers →
Piotroski F-Score5 / 9
Net debt / EBITDA3.8×
Interest cover6.0×
Dividends
Fair
54/100
Dividend is typical for its sector.
See the numbers →
Dividend yield3.1%
Dividends vs free cash flow101%
Dividend growth7.8%
Quarterly results: last 6 quarters
+3.1%
Dec '24
+0.2%
Mar '25
+7.7%
Jun '25
+5.9%
Sep '25
+9.3%
Dec '25
+8.2%
Mar '26
Revenue against the same quarter a year earlier. Latest quarter revenue $10.1B, diluted EPS $0.44.
Compare with peers
MKC Mccormick & Co Inc54 TSN Tyson Foods, Inc.43 HRL Hormel Foods Corp42 KHC Kraft Heinz Co29Other Packaged Foods & Meats companies by X-Ray Score.
SWOT analysis: Mondelez International, Inc.
Strengthsinside the company
- No standout strength in the figures we track.
Weaknessesinside the company
- Return on invested capital is only 6.0% (median 3.6% for industry peers), so the business earns little above its cost of capital.
- Net debt is 3.8x EBITDA, above the 3x level that lenders usually watch.
- Altman Z-score of 1.6 is in the zone linked with financial distress in past studies.
- Dividends (3.1% yield) are larger than free cash flow (payout 101% of it).
Opportunitiesvaluation and setting
- Price momentum is strong on the weekly and monthly signals (trends can reverse).
Threatsvaluation and setting
- Heavy debt makes profits sensitive to interest rates and refinancing conditions.
- Valuation uncertainty is high: the models give widely different values, so the fair value range is wide.
- Our checks raised: Dividend may be at risk; Dividend may be at risk.
Written by fixed rules from the figures on this page and the peer table below: filings, our fair value, the sector climate and the price trend. It summarises the data, it is not a forecast or advice.
Compare MDLZ with peers and sector
Medians of 5 Packaged Foods & Meats peers and of 28 Consumer Staples stocks in our universe.
Largest peers (X-Ray Score): KHC 29, TSN 43, GIS 28, MKC 54, HRL 42.
| Metric | MDLZ | Peers | Sector |
|---|---|---|---|
| X-Ray Score (out of 100) | 36 | 42 | 51 |
| Valuation | 29 | 53 | 53 |
| Growth | 62 | 29 | 48 |
| Profitability | 29 | 27 | 53 |
| Financial health | 19 | 28 | 54 |
| Dividends | 54 | 51 | 50 |
Sector leaders: highest X-Ray Score in Consumer Staples
MDLZ ranks #24 of 29 in Consumer Staples and #4 of 6 in Packaged Foods & Meats by X-Ray Score. A higher score is stronger on our five pillars; it is a ranking of facts, not a forecast.
Green means better than the peer median, red worse (only where a higher or lower figure is clearly better). A dash means too few companies report the figure. P/E, EV/EBITDA and price changes are not graded: a different level is not good or bad by itself.
Factor ratings for MDLZ
Each factor is rated by where MDLZ stands among the 29 Consumer Staples stocks in our universe.
Rating against the sector
Goodthe top third of these stocks
Averagethe middle third of these stocks
Badthe bottom third of these stocks
"Beats" is the share of those stocks it is ahead of.
Against its own history
The last columns set today's figure against the company's own median of its last five financial years:
▲ Betterbetter than its usual level
▼ Worseworse than its usual level
≈ In linewithin its usual range
For valuation factors Good means cheaper than most of the sector and Better means cheaper than usual for this company, which is not the same as a bargain.
In total: 4 Good · 7 Average · 12 Bad of 23
Growth: 2 · 1 · 0
Profitability: 0 · 2 · 3
Financial strength: 0 · 0 · 4
Valuation: 1 · 2 · 2
Cash flow: 0 · 2 · 2
Efficiency: 1 · 0 · 1
| Factor | MDLZ | Rating | Sector median | Own 5-year median | Against own history |
|---|---|---|---|---|---|
| Growth | |||||
| Revenue growth, 3 years a year | +7.0% | Good beats 88% | +2.3% | – | – |
| Revenue growth, last year | +5.8% | Good beats 73% | +2.2% | +8.0% | ▼ Worse |
| EPS growth, 3 years a year | −1.2% | Average beats 42% | +2.0% | – | – |
| Profitability | |||||
| Gross margin | 28.8% | Bad beats 28% | 38.7% | 38.2% | ▼ Worse |
| Operating margin | 9.4% | Average beats 46% | 11.0% | 15.3% | ▼ Worse |
| Net margin | 6.6% | Average beats 48% | 6.9% | 12.7% | ▼ Worse |
| Return on invested capital | 6.0% | Bad beats 28% | 15.2% | – | – |
| Return on equity | 10.1% | Bad beats 33% | 18.6% | 15.2% | ▼ Worse |
| Financial strength | |||||
| Net debt / EBITDA | 3.8x | Bad beats 14% | 2.0x | 2.8x | ▼ Worse |
| Interest cover | 6.0x | Bad beats 25% | 11.8x | 10.0x | ▼ Worse |
| Current ratio | 0.54 | Bad beats 9% | 1.04 | 0.62 | ≈ In line |
| Piotroski F-score | 5 / 9 | Bad beats 21% | 6 / 9 | – | – |
| Valuation | |||||
| P/E ratio | 32.1x | Average beats 35% | 25.0x | 21.8x | ▼ Worse |
| Price / book | 3.3x | Good beats 67% | 4.5x | 3.3x | ≈ In line |
| Price / sales | 2.1x | Average beats 45% | 1.8x | 2.8x | ▲ Better |
| EV / EBITDA | 20.4x | Bad beats 33% | 15.2x | 18.1x | ▼ Worse |
| Free cash flow yield | 3.1% | Bad beats 21% | 4.8% | 3.6% | ≈ In line |
| Cash flow | |||||
| Free cash flow margin | 6.6% | Average beats 40% | 9.3% | 9.7% | ▼ Worse |
| Cash from operations / net income | 1.49 | Average beats 44% | 1.54 | 1.06 | ▲ Better |
| Free cash flow growth, 3 years a year | +2.5% | Bad beats 30% | +11.0% | – | – |
| Accruals (lower is better) | −1.8% | Bad beats 21% | −4.2% | – | – |
| Efficiency | |||||
| Inventory turnover | 6.9x | Good beats 77% | 5.3x | 6.2x | ▲ Better |
| Days sales outstanding | 41 days | Bad beats 31% | 35 days | 37 days | ▼ Worse |
These ratings compare companies with each other and describe the past; they are not a forecast, a recommendation or part of the X-Ray Score. A factor is left out when its data is missing or meaningless (for example a P/E on negative earnings). A dash in the history columns means fewer than three usable years.
Fundamentals checklist
● 2 Good · ● 3 Average · ● 11 BadCash quality
Earnings backed by cashBad
Free-cash-flow yieldBad
Risk models
Altman Z''Bad
Piotroski F-ScoreBad
Growth
EPS growth (3y)Average
Free-cash-flow growth (3y)Bad
Revenue growth (3y)Good
Growth consistencyGood
Balance sheet
Current ratioBad
Net debt / EBITDABad
Interest coverBad
Valuation
Fair value vs priceAverage
EBIT / EV yieldBad
Profitability
Return on invested capitalBad
Operating marginAverage
Gross profitabilityBad
Each check is graded against the company's sector, not a fixed number. Checklist score 33/100.
Financials
| FY21 | FY22 | FY23 | FY24 | FY25 | |
|---|---|---|---|---|---|
| Revenue | $28.7B | $31.5B | $36.0B | $36.4B | $38.5B |
| Operating income | $4.7B | $3.5B | $5.5B | $6.3B | $3.5B |
| Net income | $4.3B | $2.7B | $5.0B | $4.6B | $2.5B |
| Operating cash flow | $4.1B | $3.9B | $4.7B | $4.9B | $4.5B |
| Operating margin | 16.2% | 11.2% | 15.3% | 17.4% | 9.2% |
| Free cash flow | $3.2B | $3.0B | $3.6B | $3.5B | $3.2B |
| Diluted EPS | $3.04 | $1.96 | $3.62 | $3.42 | $1.89 |
Fiscal years, from SEC filings.
Technical summary
Daily
Strongly bullish
12 bullish · 1 neutral · 3 bearish
Weekly
Strongly bullish
11 bullish · 1 neutral · 0 bearish
Monthly
Strongly bullish
6 bullish · 1 neutral · 1 bearish
Moving averages (daily)
| SMA 10 | 62.85 | Bullish |
| EMA 10 | 62.90 | Bullish |
| SMA 20 | 60.93 | Bullish |
| EMA 20 | 61.95 | Bullish |
| SMA 50 | 61.47 | Bullish |
| EMA 50 | 61.32 | Bullish |
| SMA 100 | 60.93 | Bullish |
| EMA 100 | 60.74 | Bullish |
| SMA 200 | 59.23 | Bullish |
| EMA 200 | 59.97 | Bullish |
Oscillators (daily)
| RSI (14) | 66.80 | Neutral |
| MACD (12, 26) | 0.92 | Bullish |
| Momentum (12) | 9.34 | Bullish |
| Stochastic %K (14) | 99.68 | Bearish |
| Williams %R (14) | -0.32 | Bearish |
| CCI (20) | 122.7 | Bearish |
Pivot points (classic, last session)
S3 62.02 | S2 62.67 | S1 63.93 | Pivot 64.57 | R1 65.83 | R2 66.48 | R3 67.74 |
Signals describe what the chart is doing, not what to do. Moving averages: price above the average is bullish. Oscillators use the usual thresholds (RSI 30/70, Stochastic 20/80, CCI ±100, Williams %R −80/−20; MACD and momentum above zero are bullish). Weekly and monthly views use closing prices only.
Dividends
Paid, last 12 months
2.02 USD
Yield on today's price
3.10%
Frequency
Quarterly
Next ex-dividend date
Not announced
| Ex-dividend date | Amount per share |
|---|---|
| 0.5200 | |
| 0.5000 | |
| 0.5000 | |
| 0.5000 | |
| 0.5000 | |
| 0.4700 | |
| 0.4700 | |
| 0.4700 | |
| 0.4700 | |
| 0.4250 | |
| 0.4250 | |
| 0.4250 |
Ex-dividend dates and amounts from EODHD. Shown as declared, before tax.
ETFs that hold MDLZ
| ETF | Share of the fund |
|---|---|
| XLP Consumer Staples Select Sector SPDR | 4.15% |
| IYK iShares US Consumer Staples | 3.21% |
| RSPS Invesco S&P 500 Equal Weight Consumer... | 2.93% |
| VDC Vanguard Consumer Staples | 2.68% |
| FSTA Fidelity MSCI Consumer Staples Index | 2.65% |
| MOAT VanEck Morningstar Wide Moat | 2.34% |
| FDL First Trust Morningstar Dividend Leade... | 1.57% |
| CGDG Capital Group Dividend Growers | 1.41% |
The eight funds with the largest weight in MDLZ among the ETFs we cover, from each fund's latest SEC Form N-PORT (quarter-end positions, so they can be months old). All ETFs.
MDLZ SEC filings
10-QSEC EDGAR
Quarterly report
8-KSEC EDGAR
Results of operations
8-KSEC EDGAR
Director or officer change
8-KSEC EDGAR
Shareholder vote results
10-QSEC EDGAR
Quarterly report
8-KSEC EDGAR
Results of operations
DEF 14ASEC EDGAR
Proxy statement
8-KSEC EDGAR
Entered a material agreement
Where the numbers come from
Statements SEC EDGAR filings (10-K, 10-Q), quarters derived from year-to-date figures.
Prices end-of-day closes, split-adjusted.
Industry inputs beta, multiples and equity risk premium from Damodaran Online (NYU Stern).
StocksXray is for education only and is not financial advice. Scores and fair values are model estimates from public filings and carry uncertainty.