Mondelez International (MDLZ) MDLZ Financial Results Summary
QuoteReporter
•5 min read
Mondelēz International (MDLZ) Q4 2025 Financial Results Summary
CHICAGO, Ill. – On February 3, 2026, Mondelēz International, Inc. (Nasdaq: MDLZ) announced its fourth quarter and full year 2025 financial results, displaying significant changes in revenues, margins, and earnings.
Key Highlights
- FY 2025 Performance:
- Net Revenues: Increased by 5.8% year-over-year to $38.54 billion.
- Organic Net Revenue Growth: 4.3% driven by higher net pricing, partially offset by a 3.7% decline in volume/mix.
- Diluted EPS: Declined by 44.7% compared to prior year, now at $1.89.
- Adjusted EPS: Down 14.6% on a constant currency basis to $2.92.
- Cash Provided by Operating Activities: Totaled $4.5 billion.
- Free Cash Flow: Reported at $3.2 billion.
-
Return of Capital to Shareholders: $4.9 billion through dividends and share repurchases.
-
Q4 2025 Performance:
- Net Revenues: Rose 9.3% year-over-year to $10.50 billion.
- Organic Net Revenue Growth: 5.1% comprising 8.5% pricing and a 4.8% volume/mix decline.
- Gross Profit: Fell by 20.3% to $2.96 billion, with a gross profit margin of 28.2%, down by 10.4 percentage points.
- Operating Income: Decreased 40.9% to $952 million, equating to an operating income margin of 9.1%, down 7.7 percentage points.
- Net Earnings: Dropped 61.9% to $665 million.
- Diluted EPS: Declined 60.8% to $0.51.
- Adjusted EPS: Increased by 4.6% on a constant currency basis to $0.72.
Revenue Breakdown by Regions for Q4 2025
- Latin America:
- Net Revenues: $1,264 million (+7.9% vs. Q4 2024)
-
Organic Growth: 4.4% (Pricing +8.5%, Volume/Mix -4.1%)
-
Asia, Middle East & Africa:
- Net Revenues: $2,078 million (+8.9%)
-
Organic Growth: 7.5% (Pricing +9.3%, Volume/Mix -1.8%)
-
Europe:
- Net Revenues: $4,391 million (+17.3%)
-
Organic Growth: 8.3% (Pricing +15.7%, Volume/Mix -7.4%)
-
North America:
- Net Revenues: $2,763 million (-0.6%)
- Organic Growth: -0.5% (Pricing +3.2%, Volume/Mix -3.7%)
Financial Metrics Overview
- Gross Profit Margin: Decreased from 38.6% in Q4 2024 to 28.2% due to increased commodity costs and changes in product mix.
- Operating Income Margin: Fell from 16.8% in Q4 2024 to 9.1%. Adjusted Operating Income margin rose from 10.0% to 11.9%.
- Net Earnings for FY 2025: Dropped 46.8% to $2.45 billion.
Dividend and Share Repurchase Information
- Mondelēz announced a return of $4.9 billion to shareholders, which included both cash dividends and share repurchases.
FY 2026 Outlook
- Organic Net Revenue Growth: Expected to range from flat to 2%.
- Adjusted EPS Growth: Forecasted to be flat to 5% on a constant currency basis.
- Free Cash Flow: Projected around $3 billion.
The company aims to focus on pricing strategy, structural cost savings, brand investments, and disciplined capital allocation as it navigates through ongoing challenges such as commodity price inflation and macroeconomic volatility.
Mondelēz International remains committed to driving sustainable, profitable growth as it leverages its scale and strong brand portfolio in the upcoming year.
Here are the extracted tables from the press release:
Condensed Consolidated Statements of Earnings
(in millions of U.S. dollars and shares, except per share data)
| For the Three Months Ended December 31, | For the Twelve Months Ended December 31, | |||
|---|---|---|---|---|
| 2025 | 2024 | 2025 | 2024 | |
| Net revenues | $ 10,496 | $ 9,604 | $ 38,537 | $ 36,441 |
| Cost of sales | -7,540 | -5,893 | -27,602 | -22,184 |
| Gross profit | 2,956 | 3,711 | 10,935 | 14,257 |
| Gross profit margin | 28.2 % | 38.6 % | 28.4 % | 39.1 % |
| Selling, general and administrative expenses | -1,942 | -1,980 | -7,173 | -7,439 |
| Asset impairments and exit costs | -40 | -86 | -85 | -324 |
| Gain on divestiture and acquisition | 13 | 4 | 13 | 4 |
| Amortization of intangible assets | -35 | -38 | -142 | -153 |
| Operating income | 952 | 1,611 | 3,548 | 6,345 |
| Operating income margin | 9.1 % | 16.8 % | 9.2 % | 17.4 % |
| Benefit plan non-service (expense)/income | 21 | 20 | -252 | 96 |
| Interest and other expense, net | -54 | -34 | -282 | -180 |
| Earnings before income taxes | 919 | 1,597 | 3,014 | 6,261 |
| Income tax provision | -261 | -216 | -782 | -1,469 |
| Effective tax rate | 28.4 % | 13.5 % | 25.9 % | 23.5 % |
| Gain/(loss) on equity method investment transactions | — | 332 | 169 | -337 |
| Equity method investment net earnings | 11 | 35 | 65 | 168 |
| Net earnings | 669 | 1,748 | 2,466 | 4,623 |
| less: Noncontrolling interest earnings | -4 | -3 | -15 | -12 |
| Net earnings attributable to Mondelēz International | $ 665 | $ 1,745 | $ 2,451 | $ 4,611 |
| Per share data: | ||||
| Basic earnings per share attributable to | $ 0.52 | $ 1.31 | $ 1.89 | $ 3.44 |
| Mondelēz International | ||||
| Diluted earnings per share attributable | $ 0.51 | $ 1.30 | $ 1.89 | $ 3.42 |
| to Mondelēz International | ||||
| Weighted-average shares outstanding: | ||||
| Basic | 1,289 | 1,336 | 1,294 | 1,341 |
| Diluted | 1,292 | 1,340 | 1,298 | 1,347 |
Condensed Consolidated Balance Sheets
(in millions of U.S. dollars)
| December 31, 2025 | December 31, 2024 | |
|---|---|---|
| ASSETS | ||
| Cash and cash equivalents | $ 2,125 | $ 1,351 |
| Trade receivables | 3,903 | 3,874 |
| Other receivables | 955 | 937 |
| Inventories | 4,419 | 3,827 |
| Other current assets | 1,549 | 3,253 |
| Total current assets | 12,951 | 13,242 |
| Property, plant and equipment, net | 10,667 | 9,481 |
| Operating lease right-of-use assets | 731 | 767 |
| Goodwill | 24,336 | 23,017 |
| Intangible assets, net | 19,628 | 18,848 |
| Prepaid pension assets | 1,220 | 987 |
| Deferred income taxes | 336 | 333 |
| Equity method investments | 667 | 635 |
| Other assets | 951 | 1,187 |
| TOTAL ASSETS | $ 71,487 | $ 68,497 |
| LIABILITIES | ||
| Short-term borrowings | $ 2,688 | $ 71 |
| Current portion of long-term debt | 1,295 | 2,014 |
| Accounts payable | 10,139 | 9,433 |
| Accrued marketing | 2,787 | 2,558 |
| Accrued employment costs | 1,000 | 928 |
| Other current liabilities | 3,955 | 4,545 |
| Total current liabilities | 21,864 | 19,549 |
| Long-term debt | 17,222 | 15,664 |
| Long-term operating lease liabilities | 599 | 623 |
| Deferred income taxes | 3,530 | 3,425 |
| Accrued pension costs | 422 | 391 |
| Accrued postretirement health care costs | 74 | 98 |
| Other liabilities | 1,885 | 1,789 |
| TOTAL LIABILITIES | 45,596 | 41,539 |
| EQUITY | ||
| Common Stock | — | — |
| Additional paid-in capital | 32,322 | 32,276 |
| Retained earnings | 36,413 | 36,476 |
| Accumulated other comprehensive losses | -11,364 | -12,471 |
| Treasury stock | -31,533 | -29,349 |
| Total Mondelēz International | 25,838 | 26,932 |
| Shareholders’ Equity | ||
| Noncontrolling interest | 53 | 26 |
| TOTAL EQUITY | 25,891 | 26,958 |
| TOTAL LIABILITIES AND EQUITY | $ 71,487 | $ 68,497 |