Consumer Staples · Packaged Foods & Meats · US stock · price as of 16 Oct 2026
Key indicators
Price
$63.91
52-week range
$49.90 – $66.07
Market cap
$82.2B
P/E (trailing)
31.7×
EV / EBITDA
20.1×
Free-cash-flow yield
3.1%
Dividend yield
3.2%
Revenue (last 12 months)
$39.3B
Revenue growth (3y a year)
7.0%
Operating margin
9.4%
Return on invested capital
6.0%
Net debt / EBITDA
3.8×
Fair value
Blended fair value$48.95 range $46 – $52
Versus priceOvervalued−23% to fair value
Peer multiples
$44.42
Fundamentals-adjusted multiple
$60.62
10-year DCF (market-scaled)
$41.80
Earnings power value (floor, not blended)
$30.52
Model uncertainty
Medium
X-Ray Score
35/ 100 · High confidence · ahead of 10% of sector peers
Valuation24
Growth62
Profitability29
Financial health19
Dividends54
Five-year price chart navy: price · brown: 200-day average · blue band: fair value range
Executive summary
Snacks are the focus at Mondelez International, a global company whose portfolio spans biscuits, chocolate, gum, candy and baked snacks. Its brands include Oreo, Cadbury, Milka and Toblerone, and it markets them in many countries. Customers are mainly supermarkets, convenience stores, wholesalers and other retailers. The business is managed by geographic region, covering Europe, North America, Latin America and a combined region for Asia, the Middle East and Africa.
Sales reached $39.3 billion over the last twelve months, earned by supplying snacks to retailers and distributors around the world. Sales have grown at 7.0% a year across the last three years. The operating margin is 9.4%, the business earns 6% on the capital invested in it, and net debt is 3.8 times EBITDA. The dividend yield is 3.2%.
StocksXray gives Mondelez International, Inc. an X-Ray Score of 35 out of 100 (high confidence), ahead of 10% of the S&P 500 stocks in its sector. Its strongest lens is growth (62) and its weakest is financial health (19).
Our fair value blend is $48.95 (range $45.86 to $52.34). At $63.91 the stock trades 31% above that blend, so the label is "Overvalued" with medium model uncertainty. Fair value is a range, not a price target.
XStocksXray
Mondelez International, Inc. (MDLZ)
Valuation history multiples at each fiscal year-end price; the last column uses today's price and the last twelve months
FY2021
FY2022
FY2023
FY2024
FY2025
Now
Price
$58.22
$59.92
$66.62
$56.43
$52.46
$63.91
Market cap
$82.3B
$83.0B
$91.3B
$76.0B
$68.1B
$82.2B
P/E
19.2×
30.6×
18.4×
16.5×
27.8×
31.7×
EV / revenue
3.4×
3.3×
3.0×
2.5×
2.3×
2.6×
EV / EBITDA
17.0×
22.4×
16.2×
12.1×
17.8×
20.1×
Price / free cash flow
25.9×
27.6×
25.3×
21.6×
21.0×
31.9×
Free-cash-flow yield
3.9%
3.6%
3.9%
4.6%
4.8%
3.1%
Price / book
2.9×
3.1×
3.2×
2.8×
2.6×
3.2×
Dividend yield
–
2.45%
2.43%
3.17%
3.70%
3.16%
Fundamentals checklist ● 2 Good · ● 2 Average · ● 12 Bad · each check graded against the sector
Cash quality
Earnings backed by cash−1.8%Bad
Free-cash-flow yield3.1%Bad
Risk models
Altman Z score1.6×Bad
Piotroski F-Score5 of 9Bad
Growth
EPS growth (3y)−1.2%Average
Free-cash-flow growth (3y)2.5%Bad
Revenue growth (3y)7.0%Good
Growth consistency90%Good
Balance sheet
Current ratio0.5×Bad
Net debt / EBITDA3.8×Bad
Interest cover6.0×Bad
Valuation
Fair value vs price0.8×Bad
EBIT / EV yield3.6%Bad
Profitability
Return on invested capital6.0%Bad
Operating margin9.4%Average
Gross profitability15.9%Bad
Red flags
Dividend may be at risk — Dividends exceed free cash flow
XStocksXray
Mondelez International, Inc. (MDLZ)
Financials US$ millions, from SEC filings; last column is the last twelve months
Income statement
FY21
FY22
FY23
FY24
FY25
LTM
Revenue
28,720
31,496
36,016
36,441
38,537
39,304
Gross profit
11,254
11,312
13,764
14,257
10,935
11,308
Operating income
4,653
3,534
5,502
6,345
3,548
3,676
Net income
4,300
2,717
4,959
4,611
2,451
2,609
Diluted EPS ($)
3.04
1.96
3.62
3.42
1.89
2.02
Free cash flow
3,176
3,002
3,602
3,523
3,235
2,575
Gross margin
39.2%
35.9%
38.2%
39.1%
28.4%
28.8%
Operating margin
16.2%
11.2%
15.3%
17.4%
9.2%
9.4%
Net margin
15.0%
8.6%
13.8%
12.7%
6.4%
6.6%
Balance sheet
FY21
FY22
FY23
FY24
FY25
LTM
Total assets
67,092
71,161
71,391
68,497
71,487
71,122
Cash
3,553
1,948
1,884
1,400
2,195
1,631
Total debt
19,512
22,933
19,408
17,749
21,205
21,024
Equity
28,269
26,883
28,332
26,932
25,838
25,750
Dividend per share ($)
–
1.47
1.62
1.79
1.94
1.97
Revenue and net income US$ billions: navy revenue, teal net income
Every number comes from SEC filings, end-of-day prices and the StocksXray models described on the methodology page. The X-Ray Score ranks each metric against the company's own sector. Fair value blends three models and carries a typical error of about 40%, so treat it as a range. Analyst ratings, price targets and earnings-call summaries are not part of this report. Educational research, not financial advice; read the disclaimer.