Stock Analysis on Net

Mondelēz International Inc. (NASDAQ:MDLZ)

$24.99

Common-Size Balance Sheet: Assets

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Mondelēz International Inc., common-size consolidated balance sheet: assets

Microsoft Excel
Dec 31, 2025 Dec 31, 2024 Dec 31, 2023 Dec 31, 2022 Dec 31, 2021
Cash and cash equivalents
Trade receivables, net of allowance
Other receivables, net of allowance
Inventories
Other current assets
Current assets
Property, plant and equipment, net
Operating lease right-of-use assets
Goodwill
Intangible assets, net
Prepaid pension assets
Deferred income taxes
Equity method investments
Other assets
Noncurrent assets
Total assets

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.