Financials Mondelez International, Inc. Buenos Aires S.E.

Equities

MDLZ

AR0774942129

Food Processing

End-of-day quote Buenos Aires S.E. Other stock markets 06:00:00 2024-07-09 pm EDT			5-day change	1st Jan Change
6,150 ^ARS	+0.25%		-3.82%	0.00%

Jul. 08	That's not so bad, is it?
Jul. 08	ANALYST RECOMMENDATIONS : Meta Platforms, American Express, Mondelez, Goldman Sachs, Morgan Stanley...

Valuation

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	79,306	83,622	92,501	91,018	98,570	88,436	-	-
Enterprise Value (EV) ¹	96,441	100,049	108,467	112,028	116,168	106,163	105,587	105,234
P/E ratio	20.8 x	23.7 x	21.8 x	34 x	20 x	18.8 x	17.8 x	16.7 x
Yield	1.98%	2.05%	2.01%	2.21%	-	2.68%	2.93%	3.19%
Capitalization / Revenue	3.07 x	3.15 x	3.22 x	2.89 x	2.74 x	2.4 x	2.29 x	2.19 x
EV / Revenue	3.73 x	3.76 x	3.78 x	3.56 x	3.23 x	2.88 x	2.73 x	2.61 x
EV / EBITDA	18.2 x	18.1 x	18.4 x	18.3 x	17 x	14.3 x	13.6 x	12.7 x
EV / FCF	31.7 x	32.3 x	34.2 x	37.3 x	32.3 x	27.7 x	22.3 x	20.7 x
FCF Yield	3.15%	3.1%	2.93%	2.68%	3.1%	3.61%	4.49%	4.83%
Price to Book	2.9 x	3.03 x	3.29 x	3.42 x	3.48 x	3.11 x	3.03 x	2.94 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	65.93	65.93	65.93
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	36,827	38,622	40,361
EBITDA ¹	5,311	5,517	5,888	6,136	6,849	7,443	7,761	8,273
EBIT ¹	4,264	4,401	4,775	5,029	5,634	6,149	6,412	6,867
Operating Margin	16.48%	16.56%	16.63%	15.97%	15.64%	16.7%	16.6%	17.01%
Earnings before Tax (EBT) ¹	3,447	3,383	4,369	3,228	5,880	6,762	6,293	6,691
Net income ¹	3,870	3,555	4,300	2,717	4,959	4,782	4,865	5,151
Net margin	14.96%	13.37%	14.97%	8.63%	13.77%	12.99%	12.6%	12.76%
EPS ²	2.650	2.470	3.040	1.960	3.620	3.514	3.694	3.953
Free Cash Flow ¹	3,040	3,101	3,176	3,002	3,602	3,833	4,744	5,082
FCF margin	11.75%	11.67%	11.06%	9.53%	10%	10.41%	12.28%	12.59%
FCF Conversion (EBITDA)	57.24%	56.21%	53.94%	48.92%	52.59%	51.5%	61.13%	61.43%
FCF Conversion (Net income)	78.55%	87.23%	73.86%	110.49%	72.64%	80.15%	97.52%	98.67%
Dividend per Share ²	1.090	1.200	1.330	1.470	-	1.765	1.932	2.100
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	8,508	9,145	9,797	9,749	8,945
EBITDA ¹	1,451	1,653	1,373	1,524	1,590	1,884	1,622	1,820	1,716	2,029	1,744	1,903	1,869	2,121	1,797
EBIT ¹	1,175	1,378	1,100	1,253	1,302	1,581	1,332	1,511	1,403	1,710	1,385	1,541	1,505	1,736	1,445
Operating Margin	15.34%	17.75%	15.12%	16.14%	14.97%	17.25%	15.66%	16.73%	15.06%	18.41%	16.28%	16.85%	15.36%	17.8%	16.15%
Earnings before Tax (EBT) ¹	1,143	959	859	638	772	2,225	1,161	1,331	1,163	2,682	1,345	1,499	1,469	1,796	1,480
Net income ¹	1,003	855	747	532	583	2,081	944	984	950	1,412	1,050	1,155	1,107	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%	12.34%	12.62%	11.29%	13.51%	12.66%
EPS ²	0.7100	0.6100	0.5400	0.3900	0.4200	1.520	0.6900	0.7200	0.7000	1.040	0.7933	0.8733	0.8500	1.015	0.8600
Dividend per Share ²	0.3500	0.3500	0.3500	0.3850	0.3850	0.3850	0.3850	-	-	-	0.4298	0.4492	0.4734	0.4750	0.4805
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	17,727	17,151	16,798
Net Cash position ¹	-	-	-	-	-	-	-	-
Leverage (Debt/EBITDA)	3.226 x	2.978 x	2.712 x	3.424 x	2.569 x	2.382 x	2.21 x	2.031 x
Free Cash Flow ¹	3,040	3,101	3,176	3,002	3,602	3,833	4,744	5,082
ROE (net income / shareholders' equity)	13.6%	13.6%	14.5%	14.8%	18%	16.6%	17%	17.9%
ROA (Net income/ Total Assets)	5.66%	5.63%	6.02%	5.92%	6.96%	6.48%	6.56%	6.94%
Assets ¹	68,431	63,126	71,476	45,898	71,276	73,789	74,188	74,238
Book Value Per Share ²	19.00	19.30	20.10	19.50	20.80	21.20	21.80	22.40
Cash Flow per Share ²	2.720	2.750	2.930	2.820	3.440	4.440	4.580	4.940
Capex ¹	925	863	965	906	1,112	1,338	1,412	1,499
Capex / Sales	3.58%	3.25%	3.36%	2.88%	3.09%	3.63%	3.66%	3.71%
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

More Ratings

Analysts' Consensus

Sell

Buy

Mean consensus

BUY

Number of Analysts

Last Close Price

65.93 USD

Average target price

79.96 USD

Spread / Average Target

+21.29%

Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

Company calendar

Sector Other Food Processing

	1st Jan change	Capi.
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NESTLÉ INDIA LIMITED	-2.52%	30.25B
ASSOCIATED BRITISH FOODS PLC	+3.99%	23.37B
YIHAI KERRY ARAWANA HOLDINGS CO., LTD	-21.99%	19.4B

Other Food Processing