Mondelēz International Inc. (NASDAQ:MDLZ)

Debt to equity ratio

The debt to equity ratio exhibited fluctuations over the five-year period. It started at 0.73 in 2020, decreased slightly to 0.69 in 2021, then increased notably to 0.85 in 2022 before declining again to 0.69 in 2023 and further to 0.66 in 2024. This indicates a temporary peak in leverage in 2022 followed by a gradual reduction in debt relative to equity in subsequent years.

Debt to equity ratio (including operating lease liability)

This ratio followed a similar pattern to the standard debt to equity ratio, beginning at 0.75 in 2020, decreasing to 0.71 in 2021, rising to 0.88 in 2022, then declining to 0.71 in 2023 and 0.69 in 2024. The inclusion of operating lease liabilities slightly increased the ratio values compared to the standard measure but showed comparable trend fluctuations.

Debt to capital ratio

The debt to capital ratio showed slight volatility, moving from 0.42 in 2020 to 0.41 in 2021, rising to 0.46 in 2022, and then decreasing back to 0.41 in 2023 and 0.40 in 2024. This suggests that the company's capital structure temporarily included a higher proportion of debt in 2022 before returning to lower levels.

Debt to capital ratio (including operating lease liability)

When factoring in operating lease liabilities, the debt to capital ratio presented a marginally higher level than the standard ratio, ranging from 0.43 in 2020 to 0.42 in 2021, peaking at 0.47 in 2022, and then dropping to 0.42 and 0.41 in 2023 and 2024 respectively. This consistent pattern aligns with the trends observed in the non-inclusive ratio.

Debt to assets ratio

The debt to assets ratio was relatively stable but showed a slight upward trend to 2022 followed by a decline thereafter. It started at 0.30 in 2020, decreased slightly to 0.29 in 2021, increased to 0.32 in 2022, and then declined to 0.27 in 2023 and 0.26 in 2024. The peak in 2022 suggests a modest increase in debt financing relative to total assets, followed by deleveraging.

Debt to assets ratio (including operating lease liability)

This ratio mirrored the pattern of the standard debt to assets ratio but at slightly higher levels due to the inclusion of lease liabilities. Values ranged from 0.31 in 2020 to 0.3 in 2021, 0.33 in 2022, then decreased to 0.28 in 2023 and 0.27 in 2024.

Financial leverage ratio

Financial leverage experienced some variability, declining from 2.46 in 2020 to 2.37 in 2021, increasing significantly to 2.65 in 2022, then decreasing to 2.52 in 2023 before slightly rising to 2.54 in 2024. This pattern indicates changes in the company's use of debt relative to equity, with a notable peak in 2022 aligned with other leverage measures.

Interest coverage ratio

The interest coverage ratio improved from 12.33 in 2020 to 16.08 in 2021, indicating greater ability to cover interest expenses, but then fell sharply to 9.39 in 2022. It recovered to 12.83 in 2023 and slightly increased to 12.99 in 2024. This suggests some volatility in earnings relative to interest obligations, with 2022 being a year of tighter coverage.

Fixed charge coverage ratio

The fixed charge coverage ratio followed a pattern similar to the interest coverage ratio, rising from 8.27 in 2020 to 10.28 in 2021, decreasing to 6.6 in 2022, rising again to 9.42 in 2023, and slightly decreasing to 9.21 in 2024. This reflects fluctuations in the ability to cover fixed financial charges, with a notable dip in 2022 followed by improvement.

Total Debt

The total debt showed a fluctuating trend over the observed period. It initially decreased from 20,046 million USD at the end of 2020 to 19,512 million USD in 2021. This was followed by a significant increase to 22,933 million USD in 2022. Subsequently, total debt declined in the next two years, reaching 19,408 million USD in 2023 and further decreasing to 17,749 million USD in 2024. Overall, the downward movement in the last two years suggests a reduction in leverage or debt repayment efforts.

Total Shareholders’ Equity

Shareholders’ equity exhibited relative stability with minor fluctuations. After a rise from 27,578 million USD in 2020 to 28,269 million USD in 2021, it decreased to 26,883 million USD in 2022. Equity then recovered to 28,332 million USD in 2023 before decreasing again to 26,932 million USD in 2024. These fluctuations indicate modest variability but no dramatic shifts in the company's net asset base during the period.

Debt to Equity Ratio

The debt to equity ratio mirrored the changes in debt relative to equity with noticeable fluctuations. Starting at 0.73 in 2020, the ratio improved to 0.69 in 2021, indicating a stronger equity base relative to debt. However, it increased to 0.85 in 2022, reflecting higher leverage possibly due to the peak in total debt that year. The ratio then improved again to 0.69 in 2023 and further to 0.66 in 2024, suggesting a trend toward reduced financial leverage and a more conservative capital structure toward the end of the period.

Total Debt (including operating lease liability)

The total debt level experienced fluctuations over the five-year period. Starting at $20,706 million in 2020, it decreased slightly to $20,145 million in 2021, then increased significantly to $23,613 million in 2022. Subsequently, the debt declined notably to $20,110 million in 2023 and further to $18,544 million in 2024, reflecting a downward trend in recent years.

Total Shareholders' Equity

Shareholders’ equity showed moderate variability across the period. It rose from $27,578 million in 2020 to a peak of $28,269 million in 2021, before declining to $26,883 million in 2022. It then recovered again to $28,332 million in 2023, followed by another decrease to $26,932 million in 2024, suggesting some volatility but a generally stable equity base.

Debt to Equity Ratio (including operating lease liability)

The debt to equity ratio declined from 0.75 in 2020 to 0.71 in 2021, indicating a slight improvement in leverage. However, it increased substantially to 0.88 in 2022, coinciding with the peak in total debt. The ratio then improved again to 0.71 in 2023 and further to 0.69 in 2024, reflecting a trend toward reduced leverage and a stronger equity position relative to debt in the latter years.

Total Debt

The total debt level exhibited fluctuations over the five-year period. It started at 20,046 million USD at the end of 2020, then slightly decreased to 19,512 million USD by the end of 2021. In 2022, a notable increase occurred, pushing total debt up to 22,933 million USD. However, in the subsequent years, the debt decreased consistently, reaching 19,408 million USD by the end of 2023 and further declining to 17,749 million USD by the end of 2024. This pattern indicates a peak in debt during 2022, followed by a reduction strategy in the following years.

Total Capital

Total capital showed less volatility compared to total debt but still varied moderately. It was 47,624 million USD at the end of 2020, staying relatively stable through 2021 and 2023 with values around 47,781 million USD and 47,740 million USD respectively. A slight increase occurred in 2022 to 49,816 million USD, possibly reflecting an infusion of capital or retained earnings. By 2024, total capital declined to 44,681 million USD, indicating a reduction in overall capital either through repayments, asset disposals, or other means.

Debt to Capital Ratio

The debt to capital ratio demonstrated a modest range of variation, starting at 0.42 in 2020. It decreased to 0.41 in 2021, indicating a slight improvement in capital structure or reduction of debt relative to capital. The ratio increased to 0.46 in 2022, coinciding with the rise in total debt that year, representing higher financial leverage. In 2023 and 2024, the ratio decreased again to 0.41 and 0.40 respectively, suggesting an improvement in the balance between debt and capital, with a trend towards reducing leverage over the last two years analyzed.

Total Debt (including operating lease liability)

The total debt exhibited fluctuations over the analyzed periods. It decreased slightly from 20,706 million US dollars at the end of 2020 to 20,145 million in 2021, then rose significantly to 23,613 million in 2022. Following this peak, the debt declined steadily to 20,110 million in 2023 and further to 18,544 million in 2024. Overall, the total debt demonstrated a downward trend from 2020 to 2024, with a mid-period increase observed in 2022.

Total Capital (including operating lease liability)

The total capital level was relatively stable, starting at 48,284 million US dollars in 2020 and slightly increasing to 48,414 million in 2021. It reached a peak of 50,496 million in 2022 before declining to 48,442 million in 2023 and further to 45,476 million in 2024. This indicates a moderate decrease in total capital in the last two years after a period of growth in 2022.

Debt to Capital Ratio (including operating lease liability)

The debt to capital ratio was generally stable but reflected the changes seen in the debt and capital amounts. It started at 0.43 in 2020, slightly decreased to 0.42 in 2021, rose to 0.47 in 2022 consistent with the debt increase, and then decreased again to 0.42 in 2023 and 0.41 in 2024. This pattern indicates that the leverage peaked in 2022 and then improved over the subsequent two years, implying a reduction in reliance on debt financing relative to capital.

Total Debt

The total debt of the company experienced fluctuations over the analyzed period. Initially, there was a slight decrease from 20,046 million USD in 2020 to 19,512 million USD in 2021. This was followed by a notable increase to 22,933 million USD in 2022. Subsequently, the total debt declined again, reaching 19,408 million USD in 2023 and further decreasing to 17,749 million USD in 2024. Overall, the debt showed a trend of reduction in the later years, indicating a possible focus on debt repayment or deleveraging.

Total Assets

Total assets remained relatively stable throughout the period with minor variations. Starting at 67,810 million USD in 2020, assets slightly decreased to 67,092 million USD in 2021. A modest increase occurred in the next two years, with total assets rising to 71,161 million USD in 2022 and marginally increasing to 71,391 million USD in 2023. However, in 2024, assets declined to 68,497 million USD. This suggests a general maintenance of asset base with small fluctuations rather than significant growth or contraction.

Debt to Assets Ratio

The debt to assets ratio showed an overall decreasing trend, reflecting an improvement in the company's leverage position. Starting at 0.30 in 2020, the ratio slightly declined to 0.29 in 2021 before increasing to 0.32 in 2022, aligning with the peak in total debt for that year. From 2022 onward, the ratio consistently decreased, falling to 0.27 in 2023 and further to 0.26 in 2024. This pattern indicates that the company reduced its reliance on debt financing relative to its asset base in the latter years.

The analysis of the financial data over the five-year period reveals several notable trends in the company's financial structure and leverage.

Total Debt (including operating lease liability)

Total debt experienced fluctuations throughout the period. Starting at US$20,706 million in 2020, the debt slightly declined to US$20,145 million in 2021. However, there was a significant increase in 2022 reaching US$23,613 million, followed by a consistent decrease in the subsequent years, falling to US$20,110 million in 2023 and further down to US$18,544 million in 2024. This pattern suggests an active approach to managing debt, with an increase in leverage in 2022, then a notable reduction thereafter.

Total Assets

Total assets showed a generally positive trend until 2023, increasing from US$67,810 million in 2020 to a peak of US$71,391 million in 2023. However, in 2024, assets decreased to US$68,497 million, indicating a potential contraction or asset revaluation after a period of growth. The asset base remained relatively stable with only slight variations within the group.

Debt to Assets Ratio (including operating lease liability)

The debt to assets ratio reflects the changes in both debt and asset totals, revealing the company's leverage position. It started at 0.31 in 2020, slightly decreased to 0.30 in 2021, then increased to 0.33 in 2022, corresponding with the peak in total debt. This ratio then decreased noticeably in the following years to 0.28 in 2023 and further down to 0.27 in 2024. The declining ratio in the last two years indicates an improvement in the company's leverage, implying reduced financial risk and a stronger balance sheet.

In summary, the data reflects a period of increased leverage in 2022, followed by a strategic deleveraging effort in 2023 and 2024. Total assets peaked in 2023 but slightly contracted in 2024, coinciding with the reduction in total debt and debt-to-assets ratio. Overall, the company appears to be strengthening its financial position by managing debt levels effectively while maintaining a relatively stable asset base.

Total assets

The total assets exhibited some fluctuations over the five-year period. Starting at approximately $67.81 billion in 2020, assets slightly decreased to about $67.09 billion in 2021. Subsequently, there was an increase to $71.16 billion in 2022 and remained relatively stable in 2023 at $71.39 billion. By 2024, total assets decreased again to $68.50 billion. Overall, the asset base shows moderate volatility with a peak observed during 2022 and 2023.

Total shareholders’ equity

Shareholders' equity started at $27.58 billion in 2020 and experienced a modest increase to $28.27 billion in 2021. However, 2022 saw a decline to approximately $26.88 billion. Equity recovered in 2023, rising back to $28.33 billion, but decreased again in 2024 to $26.93 billion. This pattern suggests some variability in equity value, possibly reflecting changes in retained earnings or other equity components.

Financial leverage

The financial leverage ratio demonstrated some variability across the analyzed years. It decreased from 2.46 in 2020 to 2.37 in 2021, indicating a slight reduction in debt relative to equity. In 2022, leverage increased significantly to 2.65, suggesting greater reliance on debt financing. This ratio then declined to 2.52 in 2023 before a minimal increase to 2.54 in 2024. The leverage ratio remains elevated throughout the period, indicating sustained financial leverage with moderate fluctuations.

Earnings before interest and tax (EBIT)

The EBIT showed variability over the analyzed periods. It increased from 5,216 million USD in 2020 to 5,869 million USD in 2021, indicating a positive growth trend during that interval. However, a significant decline occurred in 2022 where EBIT dropped to 4,019 million USD. Subsequently, EBIT recovered substantially in 2023, reaching 7,055 million USD, the highest value in the given data. In 2024, a slight decrease to 6,600 million USD was observed, yet the EBIT remained elevated compared to the earlier years.

Interest expense, debt

The interest expense on debt demonstrated moderate fluctuations across the periods. It declined from 423 million USD in 2020 to 365 million USD in 2021, followed by an increase to 428 million USD in 2022. A more noticeable rise was seen in 2023 when interest expense reached 550 million USD, before a slight reduction to 508 million USD in 2024. Overall, interest expenses showed an increasing tendency in the later years relative to the early period.

Interest coverage ratio

The interest coverage ratio experienced notable changes in line with EBIT and interest expense trends. It improved from 12.33 in 2020 to a peak of 16.08 in 2021, signaling a stronger ability to cover interest expenses with operating earnings. This ratio dropped sharply to 9.39 in 2022, reflecting the decrease in EBIT and the relative increase in interest expenses. In the subsequent years, the ratio recovered to 12.83 in 2023 and slightly improved further to 12.99 in 2024, indicating a restored but more moderate capacity to cover interest obligations compared to earlier years.

Earnings before fixed charges and tax

The earnings before fixed charges and tax show a fluctuating pattern over the analyzed periods. An initial increase is observed from 5,452 million US dollars in 2020 to 6,097 million in 2021, followed by a notable decline to 4,232 million in 2022. A significant recovery occurs in 2023, reaching 7,278 million, although a slight decrease takes place in 2024 to 6,834 million.

Fixed charges

Fixed charges exhibit moderate variation throughout the years. The value decreases slightly from 659 million in 2020 to 593 million in 2021, then rises to 641 million in 2022. A further increase is observed in 2023, peaking at 773 million, followed by a modest reduction to 742 million in 2024.

Fixed charge coverage ratio

The fixed charge coverage ratio follows a trend roughly aligned with earnings fluctuations. It increases from 8.27 in 2020 to a peak of 10.28 in 2021, then declines sharply to 6.6 in 2022. Thereafter, it recovers to 9.42 in 2023 and slightly decreases to 9.21 in 2024. This pattern suggests periods of higher and lower ability to cover fixed charges, correlating with the earnings volatility.