Latest Ratios: P/E Ratio 31.3x · EV/EBITDA 19.3x · ROE 9.3%. (1998–2025 historical series)
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $76.0B | $69.9B | $80.5B | $99.2B | $92.3B | $93.7B | $84.3B | $80.3B | $59.5B | $65.5B | $69.7B |
| Enterprise Value | $96.2B | $90.1B | $97.5B | $117.4B | $113.9B | $110.1B | $101.2B | $97.8B | $76.8B | $82.4B | $85.2B |
| P/E Ratio → | 31.31 | 28.48 | 17.46 | 20.01 | 34.01 | 21.81 | 23.67 | 20.78 | 17.56 | 22.41 | 42.22 |
| P/S Ratio | 1.97 | 1.81 | 2.21 | 2.76 | 2.93 | 3.26 | 3.17 | 3.10 | 2.29 | 2.53 | 2.69 |
| P/B Ratio | 2.97 | 2.70 | 2.98 | 3.50 | 3.43 | 3.31 | 3.05 | 2.94 | 2.31 | 2.51 | 2.77 |
| P/FCF | 23.48 | 21.60 | 22.84 | 27.55 | 30.75 | 29.50 | 27.17 | 26.42 | 20.85 | 41.50 | 43.20 |
| P/OCF | 16.83 | 15.48 | 16.39 | 21.05 | 23.62 | 22.63 | 21.26 | 20.25 | 15.07 | 25.27 | 24.57 |
P/E links to full P/E history page with 30-year chart
Enterprise-value multiples — capital-structure-neutral measures of total business value
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 2.34 | 2.67 | 3.26 | 3.62 | 3.83 | 3.81 | 3.78 | 2.96 | 3.18 | 3.29 |
| EV / EBITDA | 19.33 | 18.11 | 12.75 | 17.47 | 24.55 | 19.10 | 20.36 | 20.01 | 18.62 | 19.27 | 25.23 |
| EV / EBIT | 26.58 | 27.35 | 14.40 | 18.25 | 31.16 | 23.26 | 26.58 | 24.89 | 23.23 | 23.41 | 43.27 |
| EV / FCF | — | 27.87 | 27.67 | 32.58 | 37.95 | 34.67 | 32.62 | 32.19 | 26.90 | 52.20 | 52.78 |
Margins and return-on-capital ratios measuring operating efficiency
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 28.0% | 28.0% | 39.1% | 38.2% | 35.9% | 39.2% | 39.3% | 40.0% | 39.9% | 38.7% | 39.0% |
| Operating Margin | 9.4% | 9.4% | 17.4% | 15.3% | 11.2% | 16.2% | 14.5% | 14.9% | 12.8% | 13.4% | 9.9% |
| Net Profit Margin | 6.4% | 6.4% | 12.7% | 13.8% | 8.6% | 15.0% | 13.4% | 15.2% | 12.8% | 10.9% | 6.3% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 9.3% | 9.3% | 16.7% | 17.9% | 9.8% | 15.4% | 12.9% | 14.8% | 12.8% | 11.0% | 6.1% |
| ROA | 3.5% | 3.5% | 6.6% | 7.0% | 3.9% | 6.4% | 5.4% | 6.2% | 5.3% | 4.5% | 2.6% |
| ROIC | 6.0% | 6.0% | 10.5% | 8.7% | 5.7% | 7.8% | 6.5% | 6.6% | 5.8% | 6.2% | 4.7% |
| ROCE | 7.3% | 7.3% | 12.5% | 10.3% | 6.6% | 8.8% | 7.6% | 8.1% | 7.1% | 7.3% | 5.2% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.87 | 0.87 | 0.68 | 0.70 | 0.87 | 0.71 | 0.74 | 0.69 | 0.71 | 0.68 | 0.68 |
| Debt / EBITDA | 4.50 | 4.50 | 2.40 | 2.97 | 5.07 | 3.46 | 4.13 | 3.85 | 4.46 | 4.13 | 5.09 |
| Net Debt / Equity | — | 0.78 | 0.63 | 0.64 | 0.80 | 0.58 | 0.61 | 0.64 | 0.67 | 0.65 | 0.61 |
| Net Debt / EBITDA | 4.07 | 4.07 | 2.23 | 2.70 | 4.66 | 2.85 | 3.40 | 3.59 | 4.19 | 3.95 | 4.58 |
| Debt / FCF | — | 6.27 | 4.83 | 5.03 | 7.20 | 5.17 | 5.45 | 5.77 | 6.05 | 10.70 | 9.58 |
| Interest Coverage | 11.69 | 11.69 | 13.32 | 11.69 | 8.54 | 12.97 | 9.00 | 8.12 | 7.15 | 8.89 | 3.82 |
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 0.59 | 0.59 | 0.68 | 0.62 | 0.60 | 0.74 | 0.66 | 0.50 | 0.45 | 0.48 | 0.59 |
| Quick Ratio | 0.39 | 0.39 | 0.48 | 0.43 | 0.40 | 0.54 | 0.48 | 0.33 | 0.30 | 0.31 | 0.42 |
| Cash Ratio | 0.10 | 0.10 | 0.07 | 0.10 | 0.11 | 0.25 | 0.24 | 0.08 | 0.07 | 0.05 | 0.12 |
| Asset Turnover | — | 0.54 | 0.53 | 0.50 | 0.44 | 0.43 | 0.39 | 0.40 | 0.41 | 0.41 | 0.42 |
| Inventory Turnover | 6.28 | 6.28 | 5.80 | 6.16 | 5.97 | 6.45 | 6.10 | 6.10 | 6.01 | 6.20 | 6.41 |
| Days Sales Outstanding | — | 46.01 | 48.19 | 45.73 | 45.28 | 40.52 | 40.56 | 41.30 | 42.30 | 49.70 | 48.86 |
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 3.2% | 3.6% | 2.9% | 2.2% | 2.2% | 1.9% | 2.0% | 1.9% | 2.3% | 1.8% | 1.6% |
| Payout Ratio | 101.5% | 101.5% | 50.9% | 43.6% | 73.1% | 42.5% | 47.2% | 39.2% | 41.0% | 42.4% | 66.9% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 3.2% | 3.5% | 5.7% | 5.0% | 2.9% | 4.6% | 4.2% | 4.8% | 5.7% | 4.5% | 2.4% |
| FCF Yield | 4.3% | 4.6% | 4.4% | 3.6% | 3.3% | 3.4% | 3.7% | 3.8% | 4.8% | 2.4% | 2.3% |
| Buyback Yield | 3.1% | 3.4% | 2.9% | 1.6% | 2.2% | 2.3% | 1.6% | 1.8% | 3.4% | 3.3% | 3.7% |
| Total Shareholder Yield | 6.4% | 7.0% | 5.8% | 3.7% | 4.3% | 4.2% | 3.6% | 3.8% | 5.7% | 5.1% | 5.3% |
| Shares Outstanding | — | $1.3B | $1.3B | $1.4B | $1.4B | $1.4B | $1.4B | $1.5B | $1.5B | $1.5B | $1.6B |
Commodity-driven margin compression
According to current market data, Mondelez trades at a trailing P/E of 32.16, which appears elevated relative to its historical averages and peer group, suggesting that investors are pricing in a recovery in profitability that remains unsupported by the most recent quarterly margin performance metrics.
The forward P/E of 19.90 implies a significant expectation for earnings expansion, yet this valuation seems disconnected from the reality of persistent gross margin compression. Investors should monitor whether this premium is justified by brand equity or if it represents a mispricing of the company's ability to navigate current commodity headwinds.
Based on reported financial statements, Mondelez's ROIC has trended downward to 1.3% in 2026Q1 from 4.4% in 2024Q1, indicating a significant erosion in the company's ability to generate value from its invested capital base during this period of intense input cost volatility and operational restructuring.
This decline in returns suggests that recent acquisitions and capital expenditures have yet to yield the expected synergies or growth. The persistent gap between invested capital and returns warrants further investigation into whether the company's capital allocation strategy is effectively creating long-term shareholder value.
As reported in recent filings, the cash conversion cycle has shifted to -25 days in 2026Q1, reflecting erratic inventory management and a reliance on extended supplier payment terms to offset the cash flow pressures currently impacting the company's broader operational efficiency and liquidity position.
While a negative cash conversion cycle is typical for consumer staples, the volatility in days inventory outstanding suggests potential inefficiencies in supply chain management. This reliance on supplier leverage may become a liability if credit terms tighten or if inventory turnover continues to decelerate.
According to the latest balance sheet data, the current ratio has deteriorated to 0.54 in 2026Q1, which indicates a diminishing liquidity buffer that may leave the company vulnerable to sudden shocks in working capital requirements or unexpected disruptions in its global supply chain operations.
The low quick ratio of 0.37 further underscores a reliance on inventory liquidation to meet short-term obligations, which is concerning given the current margin environment. Investors should monitor this trend closely, as it suggests limited flexibility to absorb further operational or macroeconomic shocks.
The P/E ratio is frequently misapplied to Mondelez, as it obscures the significant impact of non-cash commodity hedging and restructuring charges that distort GAAP earnings, making the EV/EBITDA metric a more reliable indicator of the company's true operational cash-generating capacity and underlying business health.
Relying solely on P/E multiples ignores the capital-intensive nature of the company's DSD network and the volatility introduced by its global currency exposure. Analysts should prioritize EV/EBITDA and free cash flow yield to better assess the company's valuation relative to its peers in the snacking industry.
Includes 30+ ratios · 28 years · Updated daily
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Quick answers to the most common questions about buying MDLZ stock.
Mondelez International, Inc.'s current P/E ratio is 31.3x. The historical average is 18.1x. This places it at the 92th percentile of its historical range.
Mondelez International, Inc.'s current EV/EBITDA is 19.3x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 14.3x.
Mondelez International, Inc.'s return on equity (ROE) is 9.3%. The historical average is 12.2%.
Based on historical data, Mondelez International, Inc. is trading at a P/E of 31.3x. This is at the 92th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Mondelez International, Inc.'s current dividend yield is 3.24% with a payout ratio of 101.5%.
Mondelez International, Inc. has 28.0% gross margin and 9.4% operating margin.
Mondelez International, Inc.'s Debt/EBITDA ratio is 4.5x, indicating high leverage. A ratio above 4x may signal elevated financial risk.