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Mondelez International, Inc.MDLZ

Sector
Consumer
Industry
Food and Kindred Products
Exchange
Nasdaq

Stock Price $MDLZ

Latest filings

You are here#9 of 17 in Consumer Staples by market cap

Filing record · 2016–202610-K1110-Q328-K184

MDLZ filed 11 annual reports (10-K), 32 quarterly reports (10-Q) and 184 current reports (8-K) between 2016 and 2026.

  1. Material agreement8-K · Oct ’16Oct ’16
  2. Material agreement8-K · Feb ’19Feb ’19
  3. Leadership change8-K · Aug ’21Aug ’21
  4. Leadership change8-K · May ’25May ’25

01—Key figures

Source: 10-KFY2025
Source: 10-KFY2025
Source: 10-KFY2025
Source: 10-KFY2025

Revenue Trend

Year-over-year comparison from 10-K annual reports

  20. $38.54B
YoY changeLargest recent move+14.4%in FY23Latest +5.8%

Latest bar from 10-KFY2025Click a bar to open its SEC filing

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All MDLZ Financial Metrics59 metrics

Income Statement14

Balance Sheet25

Cash Flow15

Per Share5

02—Overview

Mondelez International, Inc. Financial Overview 2021–2025

Updated Jul 10, 2026

When Mondelēz International reported a staggering 75.1% plunge in operating income for Q1 2025, it laid bare the profound impact of soaring cocoa costs on the global snacking sector. The core thesis for this confectioner is a high-stakes battle between corporate pricing power and relentless commodity inflation, continuously testing management's ability to defend margins against brutal supply-chain shocks.

Despite these severe cost headwinds, aggressive price hikes helped net revenues grow steadily from $28.7 billion in FY2021 to $38.5 billiona in FY2025. During FY2025, the company achieved 5.8% revenue growth, fueled by higher shelf prices and the strategic acquisition of Evirth in China, even as underlying volume and mix turned unfavorable. The sheer weight of raw material expenses and derivative mark-to-market losses ultimately drove a 12.8% decline in adjusted EPS for the full year. To offset these operational pressures, the company leaned heavily into capital returns, repurchasing $2.3 billion in stock over FY2025 while maintaining a $6.7 billion remaining buyback authorization.

The market has had to weigh this resilient top-line generation against near-term earnings compression. At the close of FY2025, the stock traded at $53.83b, carrying a 28.5x P/E ratio based on a $1.89 reported EPS. This valuation multiple suggests investors are betting that strategic pricing and a newly launched $1.2 billion ERP transformation program will eventually restore operational profitability once the cocoa inflation cycle normalizes.

Recent Developments (Q4 2025 and Q1 2026)

In Q1 2026, net revenues surged 8.2% year-over-year to $10.1 billionc, driven by favorable pricing. However, regional profitability suffered severe contractions, with segment operating income plunging 36.4% in Europe and 20.8% in North America. Adjusted EPS fell 9.5% to $0.67 as the company absorbed elevated raw material and restructuring expenses. To fortify liquidity, the firm secured a new $1.5 billion revolving credit agreement in February 2026. Management also initiated a major executive transition, shifting Luca Zaramella to Chief Operating Officer and appointing Amit Banati as Chief Financial Officer.

Bulls can highlight the 3.0% organic revenue expansion and a 39.3% jump in reported net earnings to $560 milliond as evidence of enduring consumer demand. Conversely, bears will emphasize ongoing margin erosion from input inflation and regional volume deterioration. Trading at 31.0x earnings as of the Q1 2026 earnings release, the stock appears richly valued given these persistent operational headwinds.

What to watch: the margin impact of raw material costs in Europe; Amit Banati's strategic priorities upon assuming the CFO role.

03—Filings

Recent SEC Filings

  1. 8-KMondelez International, Inc. 8-K Report, Financial Results (Jul 28, 2026)Mondelēz International (MDLZ) reported second-quarter 2026 results on July 28, 2026, with reported net revenues up 4.1% to $9.355 billion. Organic Net Revenue growth was a more modest 2.2%, driven by higher net pricing (+1.5 pp) and favorable volume/mix (+0.7 pp), with Europe declining 3.5% on an organic basis while Emerging Markets grew 4.4%. The headline reported diluted EPS of $1.20 (up 144.9%) is inflated by a favorable swing in mark-to-market derivative gains ($827 million pre-tax), lower pension participation charges and initial tax-law impacts. On a non-GAAP basis, Adjusted EPS was $0.73, flat as reported and down 2.7% at constant currency, with Adjusted Operating Income declining 6.1% at constant currency as raw material costs, SG&A and advertising spend weighed on margins. Full-year 2026 guidance was modestly revised: Organic Net Revenue growth is now expected to be at least 2%, up from the prior framing, while Adjusted EPS growth of flat to 5% on a constant currency basis was maintained and Free Cash Flow of approximately $3 billion was reaffirmed. The company also announced a 4% increase to its quarterly dividend. Currency translation is estimated to add roughly 2.0 percent to 2026 net revenue growth and $0.053 to Adjusted EPS. Cash generation was softer in the first half, with operating cash flow of $1.3 billion and Free Cash Flow of $0.7 billion versus $0.8 billion a year earlier, though the company returned $1.5 billion to shareholders in the period. Investors should focus on the gap between strong GAAP headline figures and the more muted underlying operating trends, along with the sustainability of margin pressure from input costs and geopolitical disruption.
  2. 8-KMondelez International, Inc. 8-K Report, Executive Changes (Jun 18, 2026)Mondelēz International (MDLZ) announced that Amit Banati will become Executive Vice President and Chief Financial Officer effective July 1, 2026, reporting directly to Chair and CEO Dirk Van de Put. Banati is a veteran consumer-goods CFO. He most recently served as CFO of Kenvue (May 2025 to May 2026), and previously as Vice Chair and CFO of Kellanova (formerly Kellogg) and as Kellogg's CFO from 2019 to 2023. He also has earlier experience at Kraft Foods, Cadbury Schweppes, and Procter & Gamble, and he previously led Kellogg's Asia Pacific, Middle East and Africa region. The appointment is a leadership transition rather than a financial disclosure, and the filing contains no change to guidance or financial results. The transition is orderly. Luca Zaramella, who has served as CFO for eight years, remains with the company as Executive Vice President and Chief Operating Officer, overseeing commercial operations, the four geographic regions, corporate sales, marketing, and supply chain. Investors should read this as a continuity-minded handoff in which the CEO gains a new finance lead with global consumer and emerging-market experience while the prior CFO's operational expertise stays in the business. Compensation is disclosed at a headline level. Banati's base salary is $1.05 million, his target annual incentive is 125% of base salary, and his target long-term equity grant is $5 million. For 2026 the equity grant is split 50% performance share units, 25% deferred stock units, and 25% stock options. He will also receive a cash make-whole award capped at $7 million to offset forfeited compensation from his former employer. That award is subject to repayment on specified termination events before the second anniversary of the start date. The full Offer Letter will be filed with the Q2 2026 Form 10-Q.
  3. 8-KMondelez International, Inc. 8-K Report, Shareholder Vote Results (May 26, 2026)Mondelez International, Inc. (MDLZ) filed an 8-K on May 26, 2026, reporting the results of its annual meeting of shareholders held on May 20, 2026. The filing indicates strong shareholder support for the company's slate of 10 directors, with all nominees elected by a significant majority. Additionally, shareholders approved, on an advisory basis, the company's executive compensation and ratified the appointment of PricewaterhouseCoopers LLP as the independent auditor for the fiscal year ending December 31, 2026. The meeting also saw the rejection of two shareholder proposals: one requesting a report on plastic packaging policies and another advocating for an independent board chairman policy. The overwhelming 'against' votes on these proposals suggest shareholders are largely aligned with current company policies and board structure. Overall, the filing reflects a stable shareholder base and continued confidence in the current leadership and governance of Mondelez International.
  4. 8-KMondelez International, Inc. 8-K Report, Financial Results (Apr 28, 2026)Mondelēz International (MDLZ) reported first-quarter 2026 results on April 28, 2026, with headline growth driven largely by currency and mark-to-market accounting rather than underlying operations. Reported net revenues rose 8.2% to $10.08 billion, but Organic Net Revenue grew only 3.0%, with pricing (+3.5 pp) offsetting a 0.5 pp decline in volume/mix. Emerging Markets were the clear bright spot, with Organic growth of 6.3%, while Developed Markets grew just 0.8% organically and Europe's organic revenue declined 0.6%. Reported diluted EPS jumped 41.9% to $0.44, but this was primarily due to a favorable $273 million year-over-year swing in mark-to-market derivative impacts. Excluding these and other items, Adjusted EPS was $0.67, down 14.9% on a constant-currency basis, reflecting weaker operations, higher input costs, unfavorable volume/mix, and higher advertising and SG&A spending. Profitability and cash flow were weaker on an underlying basis. Adjusted gross profit margin fell 270 basis points to 30.7%, and Adjusted operating income declined 19.0% at constant currency, with margin down 310 basis points to 11.7%. Operating cash flow fell sharply to $467 million from $1,092 million, and Free Cash Flow dropped to $155 million from $815 million, driven by higher receivables, lower payables and a $257 million unrealized derivative loss. Net debt rose $420 million to $19.5 billion as cash fell by $601 million, while the company returned about $644 million in dividends and made no share repurchases in the quarter (versus $1.5 billion in Q1 2025). Management reaffirmed its full-year 2026 outlook: Organic Net Revenue growth of flat to 2%, Adjusted EPS growth of flat to 5% at constant currency, and Free Cash Flow of approximately $3 billion, with currency expected to add about 2.0% to reported net revenue growth and $0.063 to Adjusted EPS. For investors, the key takeaway is that the reported beat-like headline numbers overstate underlying momentum. Adjusted EPS declined, margins compressed meaningfully, and cash generation weakened, so the reaffirmed guidance now requires a notable improvement in the remaining quarters to be achieved. Management's emphasis on increased brand and growth investment, along with ongoing restructuring and ERP spending, adds to near-term earnings pressure that investors will likely scrutinize.
  5. 8-KMondelez International, Inc. 8-K Report, Material Agreement (Feb 18, 2026)Mondelēz International, Inc. (MDLZ) has filed an 8-K report detailing the execution of a new 364-day senior unsecured revolving credit agreement, effective February 18, 2026. This new facility, with an aggregate principal amount of $1.5 billion, replaces a similar agreement that expired on February 19, 2025. The credit facility has a termination date of February 17, 2027, but allows for the extension of outstanding loans to February 17, 2028, under specific conditions. The company also has the option to increase the facility by up to an additional $500 million with lender agreement. This refinancing demonstrates Mondelez's proactive approach to managing its liquidity and financing needs. The agreement is intended for general corporate purposes, including working capital and supporting its commercial paper program. The terms include a minimum shareholders' equity requirement of $25.0 billion, with certain adjustments for accounting impacts. This facility provides significant financial flexibility, ensuring the company has access to substantial capital for its ongoing operations and strategic initiatives.
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04—See also

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