Mondelez International (MDLZ) AI Stock Analysis

• Market Cap: $78.94B
• Dividend Yield: 3.53%
• Average Volume (3M): 10.61M
• Price to Earnings (P/E): 32.6
• Beta (1Y): 0.02
• Revenue Growth: 4.13%
• EPS Growth: -5.19%
• Country: US
• Employees: 90,000
• Sector: Consumer Defensive
• Sector Strength: 42
• Industry: Food Confectioners
• EPS (TTM): 0.72
• Shares Outstanding: 1,281,845,700
• 10 Day Avg. Volume: 8,405,894
• 30 Day Avg. Volume: 10,611,101
• PEG Ratio: -0.63
• Price to Book (P/B): 2.70
• Price to Sales (P/S): 1.81
• P/FCF Ratio: 21.53
• Enterprise Value/Market Cap: 1.26
• Enterprise Value/Revenue: 2.59
• Enterprise Value/Gross Profit: 9.12
• Enterprise Value/Ebitda: 20.48
• 1Y Price Target: $66.88
• Price Target Upside: 8.61% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 18
• EPS Forecast (FY): 3.04
• Revenue Forecast (FY): $39.72B

• Rating: 63 Neutral
• Price Target: $64.00 ▲(3.93% Upside)
• Action: Reiterated Date: 02/19/26
• Date: Action: Reiterated 02/19/26

The score is primarily supported by durable revenue trends and strong free-cash-flow generation, but is held back by the sharp 2025 margin/return deterioration and higher leverage. Near-term technicals look extended, valuation is demanding at a ~33x P/E, and management’s outlook is cautious for 2026 due to a ~$1B Q1 hit and cocoa-hedge costs—partly offset by emerging-markets strength and a potential 2027 margin tailwind if cocoa normalization persists.

Positive Factors

Free cash flow generation

Consistent and growing free cash flow ($3.2B in 2025, +41% YoY) underpins durable capital allocation flexibility. Strong cash generation supports reinvestment in brands and supply chain, dividend coverage and debt servicing, improving resilience through economic cycles and funding strategic initiatives.

Emerging markets and premiumization

High-single-digit growth in emerging markets plus double-digit growth in premium/protein franchises diversifies revenue and drives structurally higher-margin mix. Geographic/portfolio breadth reduces dependency on any one market and gives pricing and innovation levers to restore volumes and margins over multiple years.

Supply-chain modernization & cocoa sourcing

A multi-year supply-chain modernization program and geographic diversification of cocoa supply reduce raw-material and logistics risk. Improving network flexibility and alternative sourcing (including lab-grown options) should sustainably lower input volatility and support margin recovery over the medium term.

Negative Factors

Sharp margin deterioration (2025)

Material margin compression in 2025 signals earnings vulnerability to input-cost shocks and pricing elasticity. Restoring prior profitability requires sustained pricing power, mix improvement or structural cost savings; until then returns and reinvestment capacity remain impaired and recovery may be gradual.

Rising leverage

Elevated leverage reduces financial flexibility and increases sensitivity to interest costs and cash-flow swings. Higher debt limits optionality for M&A, buybacks or aggressive marketing rebuilds and raises covenant and refinancing risks if margins and earnings don't normalize over the medium term.

2026 hedges and inventory accounting headwinds

Locked-in hedges and a ~$1B inventory accounting hit create front-loaded 2026 margin pressure and guidance uncertainty. This timing mismatch can force near-term tradeoffs between pricing, promotion and margin protection, constraining profitability until cocoa cost normalization benefits flow through in 2027.

Mondelez International Business Overview & Revenue Model

Company Description

Mondelez International, Inc., through its subsidiaries, manufactures, markets, and sells snack food and beverage products in the Latin America, North America, Asia, the Middle East, Africa, and Europe. It provides biscuits, including cookies, crackers, and salted snacks; chocolates; and gums and candies, as well as various cheese and grocery, and powdered beverage products. The company's snack brand portfolio includes Cadbury, Milka, and Toblerone chocolates; Oreo, belVita, and LU biscuits; Halls candies; Trident gums; and Tang powdered beverages. It serves supermarket chains, wholesalers, supercenters, club stores, mass merchandisers, distributors, convenience stores, gasoline stations, drug stores, value stores, and other retail food outlets through direct store delivery, company-owned and satellite warehouses, third party distributors, and other facilities, as well as through independent sales offices and agents, and e-commerce channels. The company was formerly known as Kraft Foods Inc. and changed its name to Mondelez International, Inc. in October 2012. Mondelez International, Inc. was incorporated in 2000 and is headquartered in Chicago, Illinois.

How the Company Makes Money

Mondelez International generates revenue primarily through the sales of its diverse range of snack products across various categories. The company employs a multi-channel revenue model that includes retail partnerships, e-commerce platforms, and direct sales to distributors. Key revenue streams come from the sale of packaged foods and snacks to grocery chains, convenience stores, and food service operators. Additionally, Mondelez benefits from significant global brand recognition, which enables it to command premium pricing for its products. Strategic partnerships with retailers and distributors enhance its market presence, while ongoing innovation in product offerings and targeted marketing campaigns drive consumer demand. Seasonal promotions and limited-edition product launches also contribute to revenue spikes during specific periods. Overall, Mondelez's ability to adapt to changing consumer trends and preferences plays a crucial role in its financial performance.

Mondelez International Financial Statement Overview

Summary

Steady multi-year revenue growth and strong free-cash-flow generation (2025 FCF $3.2B, up ~41% YoY) are clear positives. However, 2025 profitability deteriorated sharply (gross margin ~28% vs ~39% in 2024; net margin ~6% vs ~12.7%) and leverage increased (debt-to-equity ~0.87), which tempers the overall financial strength.

Income Statement

Revenue has grown steadily from $26.6B (2020) to $38.5B (2025), with 2025 up ~2.4% year over year, showing durability but slowing momentum versus prior years. Profitability, however, weakened materially in 2025: gross margin fell to ~28% (from ~39% in 2024) and net margin declined to ~6% (from ~12.7% in 2024), with EBIT/EBITDA margins also compressing sharply. Overall: solid top-line resilience, but the 2025 step-down in margins and earnings is a notable near-term concern.

Balance Sheet

Leverage is moderate for a large branded food company: debt-to-equity moved up to ~0.87 in 2025 (from ~0.68 in 2024) as total debt increased to $22.4B while equity dipped to $25.8B. Returns on equity were healthy in 2023–2024 (~17%) but fell to ~9.5% in 2025 alongside weaker profitability. Overall: generally sound capitalization, but rising leverage and softer returns in 2025 reduce balance-sheet strength versus the prior year.

Cash Flow

Cash generation remains a strength: operating cash flow was $4.5B and free cash flow was $3.2B in 2025, with free cash flow up ~41% year over year despite the decline in net income. Free cash flow covered roughly ~72% of net income in both 2024 and 2025, indicating earnings are still reasonably supported by cash. Overall: strong free-cash-flow profile and improvement in 2025, though operating cash flow was slightly lower than 2024.

Breakdown	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	38.54B	36.44B	36.02B	31.50B	28.72B
Gross Profit	10.79B	14.26B	13.76B	11.31B	11.25B
EBITDA	4.65B	8.07B	7.64B	4.76B	5.85B
Net Income	2.45B	4.61B	4.96B	2.72B	4.30B
Balance Sheet
Total Assets	71.49B	68.50B	71.39B	71.16B	67.09B
Cash, Cash Equivalents and Short-Term Investments	2.13B	1.35B	1.81B	1.92B	3.55B
Total Debt	22.40B	18.37B	19.95B	23.54B	19.97B
Total Liabilities	45.60B	41.54B	43.02B	44.24B	38.77B
Stockholders Equity	25.84B	26.93B	28.33B	26.88B	28.27B
Cash Flow
Free Cash Flow	3.23B	3.52B	3.60B	3.00B	3.18B
Operating Cash Flow	4.51B	4.91B	4.71B	3.91B	4.14B
Investing Cash Flow	-1.20B	526.00M	2.81B	-4.89B	-26.00M
Financing Cash Flow	-2.76B	-5.78B	-7.56B	-456.00M	-4.07B

Mondelez International Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 61.58
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For MDLZ, the sentiment is Positive. The current price of 61.58 is above the 20-day moving average (MA) of 60.21, above the 50-day MA of 57.40, and above the 200-day MA of 61.10, indicating a bullish trend. The MACD of 0.81 indicates Positive momentum. The RSI at 60.20 is Neutral, neither overbought nor oversold. The STOCH value of 52.96 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for MDLZ.

Mondelez International Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
KDP	69 Neutral	$41.14B	19.85	8.36%	3.12%	6.77%	-29.84%
GIS	68 Neutral	$24.13B	9.77	27.29%	5.19%	-5.65%	0.41%
HSY	68 Neutral	$47.89B	54.40	18.89%	3.00%	4.71%	-23.03%
MDLZ	63 Neutral	$78.94B	32.61	9.29%	3.53%	4.13%	-5.19%
Sector *	62 Neutral	$20.33B	14.63	-3.31%	3.23%	1.93%	-12.26%
KHC	54 Neutral	$29.13B	-4.98	-12.87%	6.75%	-3.70%	-431.05%

Mondelez International Corporate Events

Mondelez Establishes New $1.5 Billion Credit Facility

On February 18, 2026, Mondelez International entered into a new 364‑day senior unsecured revolving credit facility for $1.5 billion with a syndicate of lenders led by JPMorgan Chase Bank, N.A., replacing its prior $1.5 billion 364‑day revolving credit agreement dated February 19, 2025. The agreement, which terminates on February 17, 2027, may be upsized by up to $500 million and allows extension of outstanding loan maturities to February 17, 2028, with borrowing costs tied to SOFR or a base rate plus a margin linked to the company’s long‑term unsecured debt rating.

The facility includes a covenant requiring Mondelez to maintain minimum shareholders’ equity of at least $25 billion, excluding certain accounting items and mark‑to‑market pension effects, and contains customary representations, covenants and events of default. Mondelez expects to use the new facility for general corporate purposes, including working capital and support for its commercial paper program, reinforcing its short‑term liquidity position and ongoing access to bank and capital markets funding.

The most recent analyst rating on (MDLZ) stock is a Buy with a $67.00 price target. To see the full list of analyst forecasts on Mondelez International stock, see the MDLZ Stock Forecast page.

Mondelez Elevates CFO Luca Zaramella to Chief Operating Officer

On January 29, 2026, Mondelēz International announced that longtime finance executive Luca Zaramella has been appointed Chief Operating Officer effective February 1, 2026, while retaining his role as Executive Vice President and Chief Financial Officer until a successor CFO is named. In his expanded remit, Zaramella will oversee commercial operations across the company’s four geographic regions as well as corporate sales, marketing and supply chain functions, consolidating key operational and financial responsibilities under a single leader. The board’s People and Compensation Committee set his 2026 compensation package, including a $1.25 million base salary, a target annual incentive equal to 150% of base pay, and a long-term incentive opportunity valued at $7.225 million, and approved limited business and personal use of the company aircraft in line with corporate policy. With nearly three decades at Mondelēz and a track record leading global finance, procurement, IT and shared services, the move underscores management’s focus on executional excellence and operational agility as it pursues its growth agenda, without any related-party, familial or special arrangement issues flagged around the appointment.

The most recent analyst rating on (MDLZ) stock is a Buy with a $66.00 price target. To see the full list of analyst forecasts on Mondelez International stock, see the MDLZ Stock Forecast page.