Financials Mondelez International, Inc.

Equities

MDLZ

US6092071058

Food Processing

Market Closed - Nasdaq Other stock markets 04:00:00 2024-05-17 pm EDT			5-day change	1st Jan Change
71.18 ^USD	-1.03%		-0.03%	-1.73%

May. 15	Swedish investor AP7 to back study on Mondelez Russia business	RE
May. 15	Swedish investor AP7 to back study on Mondelez Russia business	RE

Valuation

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	79,306	83,622	92,501	91,018	98,570	95,545	-	-
Enterprise Value (EV) ¹	96,441	100,049	108,467	112,028	116,168	113,323	112,697	112,240
P/E ratio	20.8 x	23.7 x	21.8 x	34 x	20 x	20 x	19.1 x	17.9 x
Yield	1.98%	2.05%	2.01%	2.21%	-	2.47%	2.71%	2.94%
Capitalization / Revenue	3.07 x	3.15 x	3.22 x	2.89 x	2.74 x	2.59 x	2.47 x	2.36 x
EV / Revenue	3.73 x	3.76 x	3.78 x	3.56 x	3.23 x	3.07 x	2.91 x	2.77 x
EV / EBITDA	18.2 x	18.1 x	18.4 x	18.3 x	17 x	15.2 x	14.4 x	13.5 x
EV / FCF	31.7 x	32.3 x	34.2 x	37.3 x	32.3 x	28.9 x	23.6 x	21.9 x
FCF Yield	3.15%	3.1%	2.93%	2.68%	3.1%	3.47%	4.23%	4.57%
Price to Book	2.9 x	3.03 x	3.29 x	3.42 x	3.48 x	3.37 x	3.28 x	3.18 x
Nbr of stocks (in thousands)	1,439,824	1,430,163	1,394,972	1,365,619	1,360,896	1,341,359	-	-
Reference price ²	55.08	58.47	66.31	66.65	72.43	71.23	71.23	71.23
Announcement Date	1/29/20	1/28/21	1/27/22	1/31/23	1/30/24	-	-	-

¹USD in Million²USD

Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	25,868	26,581	28,720	31,496	36,016	36,892	38,669	40,472
EBITDA ¹	5,311	5,517	5,888	6,136	6,849	7,470	7,845	8,338
EBIT ¹	4,264	4,401	4,775	5,029	5,634	6,179	6,518	6,924
Operating Margin	16.48%	16.56%	16.63%	15.97%	15.64%	16.75%	16.86%	17.11%
Earnings before Tax (EBT) ¹	3,447	3,383	4,369	3,228	5,880	6,792	6,336	6,757
Net income ¹	3,870	3,555	4,300	2,717	4,959	4,813	4,889	5,190
Net margin	14.96%	13.37%	14.97%	8.63%	13.77%	13.05%	12.64%	12.82%
EPS ²	2.650	2.470	3.040	1.960	3.620	3.562	3.723	3.989
Free Cash Flow ¹	3,040	3,101	3,176	3,002	3,602	3,927	4,771	5,134
FCF margin	11.75%	11.67%	11.06%	9.53%	10%	10.64%	12.34%	12.69%
FCF Conversion (EBITDA)	57.24%	56.21%	53.94%	48.92%	52.59%	52.57%	60.82%	61.57%
FCF Conversion (Net income)	78.55%	87.23%	73.86%	110.49%	72.64%	81.59%	97.59%	98.93%
Dividend per Share ²	1.090	1.200	1.330	1.470	-	1.759	1.929	2.092
Announcement Date	1/29/20	1/28/21	1/27/22	1/31/23	1/30/24	-	-	-

¹USD in Million²USD

Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December	2021 Q4	2022 Q1	2022 Q2	2022 Q3	2022 Q4	2023 Q1	2023 Q2	2023 Q3	2023 Q4	2024 Q1	2024 Q2	2024 Q3	2024 Q4	2025 Q1	2025 Q2
Net sales ¹	7,658	7,764	7,274	7,763	8,695	9,166	8,507	9,029	9,314	9,290	8,548	9,162	9,814	9,775	9,008
EBITDA ¹	1,451	1,653	1,373	1,524	1,590	1,884	1,622	1,820	1,716	2,029	1,710	1,891	1,885	2,128	1,824
EBIT ¹	1,175	1,378	1,100	1,253	1,302	1,581	1,332	1,511	1,403	1,710	1,388	1,555	1,521	1,785	1,480
Operating Margin	15.34%	17.75%	15.12%	16.14%	14.97%	17.25%	15.66%	16.73%	15.06%	18.41%	16.24%	16.97%	15.49%	18.26%	16.43%
Earnings before Tax (EBT) ¹	1,143	959	859	638	772	2,225	1,161	1,331	1,163	2,682	1,348	1,510	1,481	1,796	1,480
Net income ¹	1,003	855	747	532	583	2,081	944	984	950	1,412	1,034	1,163	1,119	1,317	1,132
Net margin	13.1%	11.01%	10.27%	6.85%	6.71%	22.7%	11.1%	10.9%	10.2%	15.2%	12.1%	12.69%	11.41%	13.48%	12.57%
EPS ²	0.7100	0.6100	0.5400	0.3900	0.4200	1.520	0.6900	0.7200	0.7000	1.040	0.7933	0.8767	0.8567	1.027	0.8600
Dividend per Share ²	0.3500	0.3500	0.3500	0.3850	0.3850	0.3850	0.3850	-	-	-	0.4293	0.4525	0.4725	0.4716	0.4782
Announcement Date	1/27/22	4/26/22	7/26/22	11/1/22	1/31/23	4/27/23	7/27/23	11/1/23	1/30/24	4/30/24	-	-	-	-	-

¹USD in Million²USD

Estimates

Balance Sheet Analysis

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net Debt ¹	17,135	16,427	15,966	21,010	17,598	17,778	17,152	16,695
Net Cash position ¹	-	-	-	-	-	-	-	-
Leverage (Debt/EBITDA)	3.226 x	2.978 x	2.712 x	3.424 x	2.569 x	2.38 x	2.186 x	2.002 x
Free Cash Flow ¹	3,040	3,101	3,176	3,002	3,602	3,927	4,771	5,134
ROE (net income / shareholders' equity)	13.6%	13.6%	14.5%	14.8%	18%	16.6%	17.2%	17.9%
ROA (Net income/ Total Assets)	5.66%	5.63%	6.02%	5.92%	6.96%	6.48%	6.6%	7%
Assets ¹	68,431	63,126	71,476	45,898	71,276	74,284	74,117	74,131
Book Value Per Share ²	19.00	19.30	20.10	19.50	20.80	21.20	21.70	22.40
Cash Flow per Share ²	2.720	2.750	2.930	2.820	3.440	4.450	4.660	5.010
Capex ¹	925	863	965	906	1,112	1,354	1,440	1,536
Capex / Sales	3.58%	3.25%	3.36%	2.88%	3.09%	3.67%	3.72%	3.79%
Announcement Date	1/29/20	1/28/21	1/27/22	1/31/23	1/30/24	-	-	-

¹USD in Million²USD

Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Ratings for Mondelez International, Inc.

Trading Rating

Investor Rating

ESG Refinitiv

C+

More Ratings

Analysts' Consensus

Sell

Buy

Mean consensus

BUY

Number of Analysts

Last Close Price

71.23 USD

Average target price

81.55 USD

Spread / Average Target

+14.49%

Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

Company calendar

Sector Other Food Processing

	1st Jan change	Capi.
MONDELEZ INTERNATIONAL, INC.	-1.73%	95.55B
NESTLÉ S.A.	-0.91%	279B
KRAFT HEINZ	-2.65%	43.71B
THE HERSHEY COMPANY	+11.05%	41.87B
DANONE	+2.15%	41.83B
GENERAL MILLS, INC.	+9.36%	40.22B
ARCHER-DANIELS-MIDLAND COMPANY	-14.68%	30.47B
NESTLÉ INDIA LIMITED	-5.92%	28.3B
ASSOCIATED BRITISH FOODS PLC	+15.34%	25.89B
YIHAI KERRY ARAWANA HOLDINGS CO., LTD	-4.40%	23.96B

Other Food Processing