01—Abstract
Summary
Summary of the 10-K filed February 4, 2026. Cited figures are marked; the original filing is the authoritative source.
Mondelez International, Inc. reported net revenues of $38.5 billiona for the fiscal year ended December 30, 2025, representing a 5.8% increase compared to the previous year.
This growth was primarily driven by higher net pricing and the acquisition of Evirth, partially offset by unfavorable volume/mix and the lapping of a prior-year distributor agreement. Despite revenue growth, reported operating income and net earnings saw significant declines due to substantial mark-to-market losses on derivatives and increased operating costs, particularly for raw materials like cocoa. Adjusted EPS decreased by 12.8%b (14.6% on a constant currency basis), reflecting these cost pressures and a less favorable operational performance year-over-year.
The company continues to focus on its four strategic priorities: accelerating consumer-centric growth, driving operational excellence, building a winning growth culture, and scaling sustainable snacking. While the company navigates a challenging macroeconomic environment characterized by inflation and supply chain disruptions, it is also investing in its digital transformation and innovation capabilities. The company maintained its commitment to returning capital to shareholders through dividends and share repurchases, with $6.7 billionc remaining under its current share repurchase authorization.
02—Key points
Key Highlights
- Net revenues grew 5.8% to $38.5 billion, driven by pricing and acquisitions, although organic net revenue growth was a more moderate 4.3% due to unfavorable volume/mix.
- Reported operating income and net earnings declined significantly due to higher input costs (especially cocoa), unfavorable volume/mix, and substantial mark-to-market losses on derivatives.
- Adjusted EPS decreased by 12.8% year-over-year, reflecting operational pressures and increased costs.
- The company continues to execute its strategy focused on consumer-centric growth, operational excellence, culture, and sustainability.
- Significant investments are being made in digital transformation and innovation to meet evolving consumer demands.
- Mondelez is actively returning capital to shareholders, having repurchased $2.3 billion of its common stock in 2025 and maintaining a $6.7 billion repurchase authorization.
- The company is managing its exposure to currency fluctuations and commodity price volatility through hedging and cost control measures.
03—One dollar
Follow one dollar
Of each $1.00 of revenue in FY2025, Mondelez International, Inc. kept $0.06.
- Revenue$38.54B100.0%
- Cost of revenue−$27.60B71.6%
- Gross profit$10.94B28.4%
- Operating costs−$7.39B19.2%
- Operating income$3.55B9.2%
- Interest, other & tax−$1.10B2.8%
- Net income$2.45B6.4%
Where FY2025 revenue went
$38.54B- Cost of revenue: $27.60B, 72% of revenue
- SG&A: $7.17B, 19% of revenue
- Net income: $2.45B, 6.4% of revenue
- R&D: $400.0M, 1.0% of revenue
- Interest, other & tax: $1.10B, 2.8% of revenue
Kept 6.4% as net income
Full revenue history →04—Financials
Financial Highlights
Figures from 10-KFY2025filed February 4, 2026Financial Statements
FY2025 against FY2024
| Line item | FY2025FY2024 | Change |
|---|---|---|
| Revenue | $38.54B$36.44B | +5.8% |
| Cost of Revenue | $27.60B$22.18B | +24.4% |
| Gross Profit | $10.94B$14.26B | −23.3% |
| R&D Expenses | $400.00M$400.00M | 0.0% |
| SG&A Expenses | $7.17B$7.44B | −3.6% |
| Operating Income | $3.55B$6.34B | −44.1% |
| Interest Expense | $599.00M$508.00M | +17.9% |
| Net Income | $2.45B$4.61B | −46.8% |
| EPS (Basic) | $1.89$3.44 | −45.1% |
| EPS (Diluted) | $1.89$3.42 | −44.7% |
| Shares Outstanding (Basic) | 1.29B1.34B | −3.5% |
| Shares Outstanding (Diluted) | 1.30B1.35B | −3.6% |
05—Questions
Frequently Asked Questions
What was Mondelez International's revenue performance in 2025?
Mondelez International reported net revenues of $38.5 billion for the fiscal year ended December 30, 2025, an increase of 5.8% compared to the prior year. Organic Net Revenue, which excludes currency impacts, acquisitions, and divestitures, grew by 4.3% to $37.9 billion.
What factors impacted the company's profitability in 2025?
Profitability was impacted by several factors, including significantly higher operating costs driven by increased raw material prices (especially cocoa), labor, and energy. Additionally, unfavorable volume/mix and substantial mark-to-market losses from derivative contracts contributed to a decline in reported operating income and net earnings. Adjusted EPS decreased by 12.8% year-over-year.
How is Mondelez International managing rising costs and inflationary pressures?
The company is addressing higher costs through a combination of pricing actions, productivity improvements, and cost control initiatives. They are also utilizing hedging techniques for commodity and currency exposures. However, pricing elasticity has impacted consumer demand in certain markets.
What is the company's outlook and strategic focus for the future?
Mondelez International's strategy remains focused on being the global leader in snacking, driven by four key priorities: accelerating consumer-centric growth, driving operational excellence, building a winning growth culture, and scaling sustainable snacking. They are investing in digital commerce and innovation to adapt to evolving consumer preferences.
06—Continue