Financials Mondelez International, Inc.

Equities

MDLZ

US6092071058

Food Processing

Market Closed - Nasdaq Other stock markets 04:00:00 2024-04-26 pm EDT			5-day change	1st Jan Change
70.61 ^USD	-0.27%		+3.67%	-2.51%

Apr. 26	National Legal and Policy Files an Exempt Solicitation Statement	CI
Apr. 26	Stifel Adjusts Price Target on Mondelez International to $80 From $83	MT

Valuation

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	79,306	83,622	92,501	91,018	98,570	94,979	-	-
Enterprise Value (EV) ¹	96,441	100,049	108,467	112,028	116,168	112,781	112,216	111,861
P/E ratio	20.8 x	23.7 x	21.8 x	34 x	20 x	20.4 x	18.7 x	17.3 x
Yield	1.98%	2.05%	2.01%	2.21%	-	2.51%	2.74%	2.97%
Capitalization / Revenue	3.07 x	3.15 x	3.22 x	2.89 x	2.74 x	2.55 x	2.45 x	2.35 x
EV / Revenue	3.73 x	3.76 x	3.78 x	3.56 x	3.23 x	3.03 x	2.89 x	2.76 x
EV / EBITDA	18.2 x	18.1 x	18.4 x	18.3 x	17 x	15.2 x	14.3 x	13.3 x
EV / FCF	31.7 x	32.3 x	34.2 x	37.3 x	32.3 x	27.2 x	22.7 x	21.2 x
FCF Yield	3.15%	3.1%	2.93%	2.68%	3.1%	3.68%	4.41%	4.73%
Price to Book	2.9 x	3.03 x	3.29 x	3.42 x	3.48 x	3.33 x	3.22 x	3.12 x
Nbr of stocks (in thousands)	1,439,824	1,430,163	1,394,972	1,365,619	1,360,896	1,345,128	-	-
Reference price ²	55.08	58.47	66.31	66.65	72.43	70.61	70.61	70.61
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	37,176	38,812	40,476
EBITDA ¹	5,311	5,517	5,888	6,136	6,849	7,407	7,846	8,403
EBIT ¹	4,264	4,401	4,775	5,029	5,634	6,186	6,587	7,012
Operating Margin	16.48%	16.56%	16.63%	15.97%	15.64%	16.64%	16.97%	17.32%
Earnings before Tax (EBT) ¹	3,447	3,383	4,369	3,228	5,880	5,890	6,358	6,797
Net income ¹	3,870	3,555	4,300	2,717	4,959	4,631	4,962	5,326
Net margin	14.96%	13.37%	14.97%	8.63%	13.77%	12.46%	12.78%	13.16%
EPS ²	2.650	2.470	3.040	1.960	3.620	3.468	3.773	4.084
Free Cash Flow ¹	3,040	3,101	3,176	3,002	3,602	4,152	4,944	5,287
FCF margin	11.75%	11.67%	11.06%	9.53%	10%	11.17%	12.74%	13.06%
FCF Conversion (EBITDA)	57.24%	56.21%	53.94%	48.92%	52.59%	56.06%	63.01%	62.91%
FCF Conversion (Net income)	78.55%	87.23%	73.86%	110.49%	72.64%	89.67%	99.65%	99.27%
Dividend per Share ²	1.090	1.200	1.330	1.470	-	1.772	1.932	2.098
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 Q3	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
Net sales ¹	7,182	7,658	7,764	7,274	7,763	8,695	9,166	8,507	9,029	9,314	9,187	8,681	9,289	9,945	9,711
EBITDA ¹	1,509	1,451	1,653	1,373	1,524	1,590	1,884	1,622	1,820	1,716	1,868	1,683	1,890	1,939	1,986
EBIT ¹	1,236	1,175	1,378	1,100	1,253	1,302	1,581	1,332	1,511	1,403	1,560	1,386	1,596	1,639	1,686
Operating Margin	17.21%	15.34%	17.75%	15.12%	16.14%	14.97%	17.25%	15.66%	16.73%	15.06%	16.98%	15.96%	17.18%	16.48%	17.36%
Earnings before Tax (EBT) ¹	1,249	1,143	959	859	638	772	2,225	1,161	1,331	1,163	1,475	1,322	1,505	1,601	1,594
Net income ¹	1,258	1,003	855	747	532	583	2,081	944	984	950	1,154	1,030	1,181	1,180	1,250
Net margin	17.52%	13.1%	11.01%	10.27%	6.85%	6.71%	22.7%	11.1%	10.9%	10.2%	12.56%	11.86%	12.72%	11.87%	12.88%
EPS ²	0.8900	0.7100	0.6100	0.5400	0.3900	0.4200	1.520	0.6900	0.7200	0.7000	0.8633	0.7833	0.8867	0.9167	0.9400
Dividend per Share ²	0.3500	0.3500	0.3500	0.3500	0.3850	0.3850	0.3850	0.3850	-	-	0.4293	0.4293	0.4525	0.4725	0.4676
Announcement Date	11/2/21	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	-	-	-	-	-

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	17,801	17,237	16,881
Net Cash position ¹	-	-	-	-	-	-	-	-
Leverage (Debt/EBITDA)	3.226 x	2.978 x	2.712 x	3.424 x	2.569 x	2.403 x	2.197 x	2.009 x
Free Cash Flow ¹	3,040	3,101	3,176	3,002	3,602	4,152	4,944	5,287
ROE (net income / shareholders' equity)	13.6%	13.6%	14.5%	14.8%	18%	16.8%	17.5%	18.2%
ROA (Net income/ Total Assets)	5.66%	5.63%	6.02%	5.92%	6.96%	6.61%	6.81%	7.02%
Assets ¹	68,431	63,126	71,476	45,898	71,276	70,022	72,821	75,905
Book Value Per Share ²	19.00	19.30	20.10	19.50	20.80	21.20	21.90	22.60
Cash Flow per Share ²	2.720	2.750	2.930	2.820	3.440	4.060	4.760	5.170
Capex ¹	925	863	965	906	1,112	1,400	1,441	1,546
Capex / Sales	3.58%	3.25%	3.36%	2.88%	3.09%	3.77%	3.71%	3.82%
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

70.61 USD

Average target price

81.9 USD

Spread / Average Target

+15.98%

Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

Company calendar

Sector Other Food Processing

	1st Jan change	Capi.
MONDELEZ INTERNATIONAL, INC.	-2.51%	94.98B
NESTLÉ S.A.	-4.93%	261B
KRAFT HEINZ	+3.19%	46.39B
GENERAL MILLS, INC.	+8.74%	39.99B
THE HERSHEY COMPANY	-0.15%	38.02B
ARCHER-DANIELS-MIDLAND COMPANY	-16.78%	30.16B
NESTLÉ INDIA LIMITED	-6.61%	28.72B
ASSOCIATED BRITISH FOODS PLC	+11.32%	24.54B
YIHAI KERRY ARAWANA HOLDINGS CO., LTD	-9.29%	22.65B
MCCORMICK & COMPANY, INCORPORATED	+10.68%	20.14B

Other Food Processing