Common-Size Balance Sheet: Assets
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Mondelēz International Inc. pages available for free this week:
- Balance Sheet: Liabilities and Stockholders’ Equity
- Analysis of Profitability Ratios
- Analysis of Solvency Ratios
- Enterprise Value to FCFF (EV/FCFF)
- Capital Asset Pricing Model (CAPM)
- Net Profit Margin since 2005
- Return on Assets (ROA) since 2005
- Current Ratio since 2005
- Debt to Equity since 2005
- Price to Operating Profit (P/OP) since 2005
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Based on: 10-K (reporting date: 2025-12-31), 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31).
The asset composition of the entity demonstrates notable shifts between 2021 and 2025. Current assets as a percentage of total assets generally increased over the period, while noncurrent assets experienced a more complex trend. Within current assets, significant changes are observed in several components, while the noncurrent asset side is largely driven by goodwill and intangible assets.
- Liquidity and Current Assets
- Current assets increased from 15.41% of total assets in 2021 to a peak of 19.33% in 2024, before decreasing slightly to 18.12% in 2025. This increase was primarily fueled by growth in inventories and other current assets. Cash and cash equivalents decreased substantially from 5.29% in 2021 to 1.97% in 2024, before a modest recovery to 2.97% in 2025. Trade receivables also exhibited an upward trend, rising from 3.48% to 5.66% in 2024, then decreasing to 5.46% in 2025. The most substantial change within current assets was observed in ‘other current assets’, increasing from 1.34% to 4.75% in 2024, then declining to 2.17% in 2025.
- Long-Term Investments and Fixed Assets
- Property, plant, and equipment, net, remained relatively stable as a percentage of total assets, increasing from 12.90% in 2021 to 14.92% in 2025. Operating lease right-of-use assets showed a gradual increase, from 0.91% to 1.12% in 2024, followed by a slight decrease to 1.02% in 2025. A significant decrease is observed in equity method investments, falling from 7.88% in 2021 to just 0.93% in both 2024 and 2025. Deferred income taxes consistently decreased as a percentage of total assets, from 0.81% in 2021 to 0.47% in 2025.
- Goodwill and Intangible Assets
- Goodwill consistently represented a substantial portion of total assets, increasing from 32.76% in 2021 to 34.04% in 2025. Intangible assets, net, also remained a significant component, fluctuating between 27.26% and 27.79% throughout the period, ending at 27.46% in 2025. Together, goodwill and intangible assets accounted for approximately 60% of total assets throughout the analyzed period.
- Overall Asset Composition
- Noncurrent assets decreased from 84.59% in 2021 to 80.67% in 2024, before increasing slightly to 81.88% in 2025. This shift reflects the increasing proportion of current assets, particularly in 2024. The changes in equity method investments and other assets contributed to the fluctuations in the noncurrent asset portion of the balance sheet. The overall trend suggests a move towards a slightly more liquid asset base, although goodwill and intangible assets continue to dominate the asset structure.