Debt to Equity
since 2005
Calculation
Mondelēz International Inc., debt to equity, long-term trends, calculation
| Debt to equity | = | Total debt1 | ÷ | Total Mondelēz International shareholders’ equity1 | |
|---|---|---|---|---|---|
| Dec 31, 2025 | 0.82 | = | 21,205) | ÷ | 25,838) |
| Dec 31, 2024 | 0.66 | = | 17,749) | ÷ | 26,932) |
| Dec 31, 2023 | 0.69 | = | 19,408) | ÷ | 28,332) |
| Dec 31, 2022 | 0.85 | = | 22,933) | ÷ | 26,883) |
| Dec 31, 2021 | 0.69 | = | 19,512) | ÷ | 28,269) |
| Dec 31, 2020 | 0.73 | = | 20,046) | ÷ | 27,578) |
| Dec 31, 2019 | 0.68 | = | 18,426) | ÷ | 27,275) |
| Dec 31, 2018 | 0.72 | = | 18,372) | ÷ | 25,637) |
| Dec 31, 2017 | 0.68 | = | 17,652) | ÷ | 26,111) |
| Dec 31, 2016 | 0.68 | = | 17,199) | ÷ | 25,161) |
| Dec 31, 2015 | 0.55 | = | 15,398) | ÷ | 28,012) |
| Dec 31, 2014 | 0.60 | = | 16,700) | ÷ | 27,750) |
| Dec 31, 2013 | 0.53 | = | 17,121) | ÷ | 32,373) |
| Dec 31, 2012 | 0.60 | = | 19,425) | ÷ | 32,215) |
| Dec 31, 2011 | 0.76 | = | 26,931) | ÷ | 35,217) |
| Dec 31, 2010 | 0.80 | = | 28,724) | ÷ | 35,834) |
| Dec 31, 2009 | 0.73 | = | 18,990) | ÷ | 25,876) |
| Dec 31, 2008 | 0.91 | = | 20,251) | ÷ | 22,200) |
| Dec 31, 2007 | 0.77 | = | 21,009) | ÷ | 27,295) |
| Dec 31, 2006 | 0.36 | = | 10,214) | ÷ | 28,555) |
| Dec 31, 2005 | 0.36 | = | 10,548) | ÷ | 29,593) |
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), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).
1 US$ in millions
The debt-to-equity ratio for the analyzed period demonstrates considerable fluctuation. Initially, the ratio remained stable at 0.36 in 2005 and 2006. A significant increase is then observed, rising to 0.77 in 2007 and peaking at 0.91 in 2008, indicating a growing reliance on debt financing relative to equity. Following this peak, the ratio experienced a decline, reaching 0.60 in 2012, suggesting a period of deleveraging or increased equity.
- Initial Stability & Subsequent Increase (2005-2008)
- From 2005 through 2006, the debt-to-equity ratio remained consistent, indicating a balanced capital structure. However, a substantial increase from 2007 to 2008 suggests a strategic shift towards increased debt financing, potentially to fund acquisitions, expansion, or share repurchases. The rise in total debt significantly outpaced the growth in shareholders’ equity during this period.
- Fluctuation and Moderate Levels (2009-2015)
- The period between 2009 and 2015 is characterized by fluctuations in the debt-to-equity ratio, generally remaining between 0.53 and 0.80. While there is no consistent upward or downward trend, the ratio does not return to the levels observed in 2005 and 2006. This suggests a continued, though managed, reliance on debt. A slight increase is observed from 2014 to 2015.
- Recent Trends (2016-2025)
- From 2016 to 2022, the ratio generally increased, reaching a high of 0.85 in 2022. This indicates a renewed trend of increasing leverage. However, a decrease is observed in 2023, followed by a further increase in 2024 and 2025, bringing the ratio to 0.82. This recent volatility suggests potential shifts in financing strategies or responses to changing economic conditions. The latest value indicates a higher level of debt relative to equity compared to the beginning of the analyzed period.
Overall, the debt-to-equity ratio has demonstrated a cyclical pattern over the analyzed timeframe. While periods of deleveraging have occurred, the most recent trend suggests a growing reliance on debt financing. Continued monitoring of this ratio is recommended to assess the company’s financial risk and capital structure management.
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Comparison to Competitors
Mondelēz International Inc., debt to equity, long-term trends, comparison to competitors
| Mondelēz International Inc. | Coca-Cola Co. | PepsiCo Inc. | Philip Morris International Inc. | |
|---|---|---|---|---|
| Dec 31, 2025 | 0.82 | 1.41 | 2.41 | — |
| Dec 31, 2024 | 0.66 | 1.79 | 2.46 | — |
| Dec 31, 2023 | 0.69 | 1.62 | 2.38 | — |
| Dec 31, 2022 | 0.85 | 1.62 | 2.28 | — |
| Dec 31, 2021 | 0.69 | 1.86 | 2.51 | — |
| Dec 31, 2020 | 0.73 | 2.22 | 3.28 | — |
| Dec 31, 2019 | 0.68 | 2.25 | 2.17 | — |
| Dec 31, 2018 | 0.72 | 2.56 | 2.23 | — |
| Dec 31, 2017 | 0.68 | 2.79 | 3.61 | — |
| Dec 31, 2016 | 0.68 | 1.98 | 3.33 | — |
| Dec 31, 2015 | 0.55 | 1.73 | 2.79 | — |
| Dec 31, 2014 | 0.60 | 1.38 | 1.66 | — |
| Dec 31, 2013 | 0.53 | 1.12 | 1.22 | — |
| Dec 31, 2012 | 0.60 | 0.99 | 1.27 | — |
| Dec 31, 2011 | 0.76 | 0.90 | 1.30 | 80.98 |
| Dec 31, 2010 | 0.80 | 0.76 | 1.18 | 4.71 |
| Dec 31, 2009 | 0.73 | 0.48 | 0.47 | 2.70 |
| Dec 31, 2008 | 0.91 | 0.45 | 0.68 | 1.59 |
| Dec 31, 2007 | 0.77 | 0.43 | 0.24 | — |
| Dec 31, 2006 | 0.36 | 0.27 | 0.18 | — |
| Dec 31, 2005 | 0.36 | 0.35 | 0.37 | — |
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), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).
Comparison to Sector (Food, Beverage & Tobacco)
Mondelēz International Inc., debt to equity, long-term trends, comparison to sector (food, beverage & tobacco)
| Mondelēz International Inc. | Food, Beverage & Tobacco | |
|---|---|---|
| Dec 31, 2025 | 0.82 | 2.41 |
| Dec 31, 2024 | 0.66 | 2.62 |
| Dec 31, 2023 | 0.69 | 2.49 |
| Dec 31, 2022 | 0.85 | 2.44 |
| Dec 31, 2021 | 0.69 | 2.28 |
| Dec 31, 2020 | 0.73 | 2.90 |
| Dec 31, 2019 | 0.68 | 2.51 |
| Dec 31, 2018 | 0.72 | 2.82 |
| Dec 31, 2017 | 0.68 | 3.31 |
| Dec 31, 2016 | 0.68 | 2.76 |
| Dec 31, 2015 | 0.55 | 2.32 |
| Dec 31, 2014 | 0.60 | 1.86 |
| Dec 31, 2013 | 0.53 | 1.36 |
| Dec 31, 2012 | 0.60 | 1.23 |
| Dec 31, 2011 | 0.76 | 1.15 |
| Dec 31, 2010 | 0.80 | 1.02 |
| Dec 31, 2009 | 0.73 | 0.74 |
| Dec 31, 2008 | 0.91 | 0.80 |
| Dec 31, 2007 | 0.77 | 0.52 |
| Dec 31, 2006 | 0.36 | 0.29 |
| Dec 31, 2005 | 0.36 | 0.36 |
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), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).
Comparison to Industry (Consumer Staples)
Mondelēz International Inc., debt to equity, long-term trends, comparison to industry (consumer staples)
| Mondelēz International Inc. | Consumer Staples | |
|---|---|---|
| Dec 31, 2025 | 0.82 | 1.04 |
| Dec 31, 2024 | 0.66 | 1.11 |
| Dec 31, 2023 | 0.69 | 1.15 |
| Dec 31, 2022 | 0.85 | 1.07 |
| Dec 31, 2021 | 0.69 | 1.07 |
| Dec 31, 2020 | 0.73 | 1.24 |
| Dec 31, 2019 | 0.68 | 1.18 |
| Dec 31, 2018 | 0.72 | 1.11 |
| Dec 31, 2017 | 0.68 | 1.20 |
| Dec 31, 2016 | 0.68 | 1.09 |
| Dec 31, 2015 | 0.55 | 1.00 |
| Dec 31, 2014 | 0.60 | 0.96 |
| Dec 31, 2013 | 0.53 | 0.87 |
| Dec 31, 2012 | 0.60 | 0.83 |
| Dec 31, 2011 | 0.76 | 0.80 |
| Dec 31, 2010 | 0.80 | 0.74 |
| Dec 31, 2009 | 0.73 | 0.69 |
| Dec 31, 2008 | 0.91 | 0.68 |
| Dec 31, 2007 | 0.77 | 0.55 |
| Dec 31, 2006 | 0.36 | 0.52 |
| Dec 31, 2005 | 0.36 | 0.59 |
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), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).