Mondelez International (MDLZ) financial statements
Mondelez International reported revenue of $38.5B in fiscal 2025, up 4.5% a year over 9 years.
Net income was $2.5B and the operating margin 9.2%, against 9.9% in 2016.
Free cash flow was $3.2B, and the company returned $2.5B in dividends and $2.4B in net buybacks.
The diluted share count fell 17% over the period (buybacks).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from Mondelez International's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $25.9B | $25.9B | $25.9B | $25.9B | $26.6B | $28.7B | $31.5B | $36.0B | $36.4B | $38.5B |
| Cost of revenue | $15.8B | $15.9B | $15.6B | $15.5B | $16.1B | $17.5B | $20.2B | $22.3B | $22.2B | $27.6B |
| Gross profit | $10.1B | $10.0B | $10.4B | $10.3B | $10.4B | $11.3B | $11.3B | $13.8B | $14.3B | $10.9B |
| Research and development | $376M | $366M | $362M | $351M | $332M | $347M | $346M | $380M | $400M | $400M |
| Selling, general and admin | $6.5B | $5.9B | $6.5B | $6.1B | $6.1B | $6.3B | $7.4B | $8.0B | $7.4B | $7.2B |
| Operating income | $2.6B | $3.5B | $3.3B | $3.8B | $3.9B | $4.7B | $3.5B | $5.5B | $6.3B | $3.5B |
| Interest expense | $515M | $396M | $462M | $484M | $423M | $365M | $428M | $550M | $508M | $599M |
| Pre-tax income | $1.5B | $3.1B | $2.8B | $3.4B | $3.4B | $4.4B | $3.2B | $5.9B | $6.3B | $3.0B |
| Income tax | $114M | $666M | $773M | $2M | $1.2B | $1.2B | $865M | $1.5B | $1.5B | $782M |
| Net income | $1.6B | $2.8B | $3.3B | $3.9B | $3.6B | $4.3B | $2.7B | $5.0B | $4.6B | $2.5B |
| EPS (diluted) | $1.04 | $1.85 | $2.23 | $2.69 | $2.47 | $3.04 | $1.96 | $3.62 | $3.42 | $1.89 |
| Diluted shares | 1.57B | 1.53B | 1.49B | 1.46B | 1.44B | 1.41B | 1.39B | 1.37B | 1.35B | 1.30B |
| Gross margin | 39.0% | 38.7% | 39.9% | 40.0% | 39.3% | 39.2% | 35.9% | 38.2% | 39.1% | 28.4% |
| Operating margin | 9.9% | 13.4% | 12.8% | 14.9% | 14.5% | 16.2% | 11.2% | 15.3% | 17.4% | 9.2% |
| Net margin | 6.3% | 10.9% | 12.8% | 15.2% | 13.4% | 15.0% | 8.6% | 13.8% | 12.7% | 6.4% |
Balance sheet
Fiscal years, from Mondelez International's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $1.7B | $761M | $1.1B | $1.3B | $3.6B | $3.6B | $1.9B | $1.9B | $1.4B | $2.2B |
| Receivables | $2.6B | $2.7B | $2.3B | $2.2B | $2.3B | $2.3B | $3.1B | $3.6B | $3.9B | $3.9B |
| Inventory | $2.5B | $2.6B | $2.6B | $2.5B | $2.6B | $2.7B | $3.4B | $3.6B | $3.8B | $4.4B |
| Total current assets | $8.5B | $7.5B | $7.6B | $7.6B | $10.0B | $10.3B | $10.1B | $11.7B | $13.2B | $13.0B |
| Property, plant and equipment | $8.2B | $8.7B | $8.5B | $8.7B | $9.0B | $8.7B | $9.0B | $9.7B | $9.5B | $10.7B |
| Goodwill | $20.3B | $21.1B | $20.7B | $20.8B | $21.9B | $22.0B | $23.4B | $23.9B | $23.0B | $24.3B |
| Total assets | $61.5B | $63.0B | $62.6B | $64.5B | $67.8B | $67.1B | $71.2B | $71.4B | $68.5B | $71.5B |
| Total current liabilities | $14.4B | $15.8B | $16.7B | $15.3B | $15.2B | $14.0B | $16.7B | $19.0B | $19.5B | $21.9B |
| Long-term debt | $13.2B | $13.0B | $12.5B | $14.2B | $17.3B | $17.6B | $20.3B | $16.9B | $15.7B | $17.2B |
| Total liabilities | $36.3B | $36.9B | $37.0B | $37.2B | $40.2B | $38.8B | $44.2B | $43.0B | $41.5B | $45.6B |
| Shareholders' equity | $25.2B | $26.0B | $25.6B | $27.2B | $27.6B | $28.3B | $26.9B | $28.3B | $26.9B | $25.8B |
| Net debt | $11.5B | $12.2B | $11.4B | $12.9B | $13.6B | $14.0B | $18.3B | $15.0B | $14.3B | $15.0B |
Cash flow
Fiscal years, from Mondelez International's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $2.8B | $2.6B | $3.9B | $4.0B | $4.0B | $4.1B | $3.9B | $4.7B | $4.9B | $4.5B |
| Capital spending | $1.2B | $1.0B | $1.1B | $925M | $863M | $965M | $906M | $1.1B | $1.4B | $1.3B |
| Free cash flow | $1.6B | $1.6B | $2.9B | $3.0B | $3.1B | $3.2B | $3.0B | $3.6B | $3.5B | $3.2B |
| Stock-based compensation | $140M | $137M | $128M | $135M | $126M | $121M | $120M | $146M | $147M | $114M |
| Dividends paid | $1.1B | $1.2B | $1.4B | $1.5B | $1.7B | $1.8B | $2.0B | $2.2B | $2.3B | $2.5B |
| Share buybacks (net) | -$2.6B | -$2.2B | -$2.0B | -$1.5B | -$1.4B | -$2.1B | -$2.0B | -$1.5B | -$2.3B | -$2.4B |
| Net borrowing | $1.2B | -$93M | -$286M | $983M | $3.3B | -$326M | $1.5B | -$2.2B | -$883M | -$483M |
| Free cash flow margin | 6.2% | 6.1% | 11.0% | 11.8% | 11.7% | 11.1% | 9.5% | 10.0% | 9.7% | 8.4% |
| Dividends per share | $0.70 | $0.78 | $0.91 | $1.06 | $1.16 | $1.29 | $1.43 | $1.58 | $1.74 | $1.92 |
Questions
What was Mondelez International's revenue in 2025?
$38.5B in fiscal 2025, from its 10-K filing.
How much free cash flow does Mondelez International generate?
$3.2B in fiscal 2025 (operating cash flow minus capital spending).
From Mondelez International's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.