Analysis of Long-term (Investment) Activity Ratios
Activity ratios measure how efficiently a company performs day-to-day tasks, such us the collection of receivables and management of inventory.
Paying user area
Try for free
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
The data is hidden behind: . Unhide it.
Get full access to the entire website from $10.42/mo, or
get 1-month access to Mondelēz International Inc. for $24.99.
This is a one-time payment. There is no automatic renewal.
We accept:
Long-term Activity Ratios (Summary)
Mondelēz International Inc., long-term (investment) activity ratios
| Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | ||
|---|---|---|---|---|---|---|
| Net fixed asset turnover | ||||||
| Net fixed asset turnover (including operating lease, right-of-use asset) | ||||||
| Total asset turnover | ||||||
| Equity turnover |
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).
An examination of long-term activity ratios reveals generally positive trends across the observed period. Asset utilization appears to be improving, as indicated by increases in turnover ratios. These improvements suggest increasing efficiency in how assets are employed to generate revenue.
- Net Fixed Asset Turnover
- The net fixed asset turnover ratio demonstrates an upward trend from 3.32 in 2021 to 3.84 in 2024, indicating a growing ability to generate sales from fixed assets. A slight decrease to 3.61 is observed in 2025, but the level remains above that of earlier years. This suggests continued, though potentially moderating, efficiency in fixed asset utilization.
- Net Fixed Asset Turnover (Including Operating Lease, Right-of-Use Asset)
- Similar to the standard net fixed asset turnover, this ratio also exhibits an increasing trend from 3.10 in 2021 to 3.56 in 2024. The inclusion of operating lease obligations and right-of-use assets provides a broader view of asset utilization. A decrease to 3.38 is noted in 2025, mirroring the trend observed in the standard net fixed asset turnover.
- Total Asset Turnover
- The total asset turnover ratio shows consistent growth, rising from 0.43 in 2021 to 0.54 in 2025. This indicates an increasing efficiency in utilizing all assets, both fixed and current, to generate sales. The rate of increase appears to be slowing in the later years, but the overall trend remains positive.
- Equity Turnover
- The equity turnover ratio demonstrates the most substantial increase across the period, moving from 1.02 in 2021 to 1.49 in 2025. This signifies a growing ability to generate sales relative to the amount of equity invested in the business. The consistent upward trajectory suggests effective utilization of shareholder equity.
Collectively, these ratios suggest improving operational efficiency and asset utilization over the five-year period. The slight declines observed in 2025 for the fixed asset turnover ratios warrant further investigation, but do not negate the overall positive trend.
Net Fixed Asset Turnover
Mondelēz International Inc., net fixed asset turnover calculation, comparison to benchmarks
| Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||
| Net revenues | ||||||
| Property, plant and equipment, net | ||||||
| Long-term Activity Ratio | ||||||
| Net fixed asset turnover1 | ||||||
| Benchmarks | ||||||
| Net Fixed Asset Turnover, Competitors2 | ||||||
| Coca-Cola Co. | ||||||
| PepsiCo Inc. | ||||||
| Philip Morris International Inc. | ||||||
| Net Fixed Asset Turnover, Sector | ||||||
| Food, Beverage & Tobacco | ||||||
| Net Fixed Asset Turnover, Industry | ||||||
| Consumer Staples | ||||||
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).
1 2025 Calculation
Net fixed asset turnover = Net revenues ÷ Property, plant and equipment, net
= ÷ =
2 Click competitor name to see calculations.
The net fixed asset turnover ratio exhibits an overall positive trend from 2021 to 2024, followed by a slight decrease in the most recent year. This indicates a changing efficiency in how effectively the company generates net revenues from its fixed assets.
- Net Fixed Asset Turnover Trend
- The ratio increased from 3.32 in 2021 to 3.49 in 2022, representing a 5.12% improvement. This upward trajectory continued with a further increase to 3.72 in 2023, and peaked at 3.84 in 2024. This demonstrates a consistent improvement in the company’s ability to generate sales from its fixed asset base over these four years.
- Recent Performance
- In 2025, the net fixed asset turnover ratio decreased to 3.61. While still a relatively strong value compared to 2021, this represents a 6.04% decline from the 2024 peak. This decrease warrants further investigation to determine the underlying causes, such as potential underutilization of assets or a slower growth in net revenues relative to fixed asset investment.
- Relationship to Revenue
- Net revenues increased consistently from 2021 to 2025, growing from US$28,720 million to US$38,537 million. Simultaneously, property, plant, and equipment net also increased, but at a slower pace than revenues between 2021 and 2024. The 2025 increase in property, plant, and equipment net was more substantial than the revenue increase, which likely contributed to the observed decrease in the net fixed asset turnover ratio.
The observed trend suggests that, up to 2024, the company was becoming increasingly efficient in utilizing its fixed assets to generate revenue. The 2025 decline, however, signals a potential shift in this efficiency and may require attention to asset management strategies.
Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset)
Mondelēz International Inc., net fixed asset turnover (including operating lease, right-of-use asset) calculation, comparison to benchmarks
| Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||
| Net revenues | ||||||
| Property, plant and equipment, net | ||||||
| Operating lease right-of-use assets | ||||||
| Property, plant and equipment, net (including operating lease, right-of-use asset) | ||||||
| Long-term Activity Ratio | ||||||
| Net fixed asset turnover (including operating lease, right-of-use asset)1 | ||||||
| Benchmarks | ||||||
| Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset), Competitors2 | ||||||
| Coca-Cola Co. | ||||||
| PepsiCo Inc. | ||||||
| Philip Morris International Inc. | ||||||
| Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset), Sector | ||||||
| Food, Beverage & Tobacco | ||||||
| Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset), Industry | ||||||
| Consumer Staples | ||||||
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).
1 2025 Calculation
Net fixed asset turnover (including operating lease, right-of-use asset) = Net revenues ÷ Property, plant and equipment, net (including operating lease, right-of-use asset)
= ÷ =
2 Click competitor name to see calculations.
The net fixed asset turnover ratio, alongside its contributing components of net revenues and net fixed assets, demonstrates a generally positive trend over the observed five-year period, with a slight decrease in the most recent year. Net revenues consistently increased, while net fixed assets also increased, though with some fluctuation.
- Net Revenues
- Net revenues exhibited a consistent upward trajectory, increasing from US$28,720 million in 2021 to US$38,537 million in 2025. The largest year-over-year increase occurred between 2022 and 2023, with a growth of US$4,520 million. Growth rates moderated in subsequent years, but remained positive.
- Property, Plant & Equipment (Including Operating Lease, Right-of-Use Asset)
- Net property, plant, and equipment, inclusive of operating leases and right-of-use assets, generally increased from US$9,271 million in 2021 to US$11,398 million in 2025. There was a minor decrease between 2023 and 2024, from US$10,377 million to US$10,248 million, before resuming an upward trend. This suggests potential asset disposals or depreciation exceeding acquisitions in 2024.
- Net Fixed Asset Turnover (Including Operating Lease, Right-of-Use Asset)
- The net fixed asset turnover ratio increased from 3.10 in 2021 to 3.56 in 2024, indicating improving efficiency in generating revenue from fixed assets. However, the ratio decreased slightly to 3.38 in 2025. This decrease, while minor, warrants further investigation to determine if it signals a potential shift in asset utilization or a temporary fluctuation. The overall trend suggests that the company is effectively leveraging its fixed asset base to generate sales, although the most recent year shows a slight moderation of this efficiency.
The consistent growth in net revenues, coupled with the generally increasing fixed asset base, has largely driven the positive trend in the net fixed asset turnover ratio. The slight dip in the ratio during 2025, despite continued revenue growth, suggests a potential need to monitor asset utilization and investment strategies.
Total Asset Turnover
Mondelēz International Inc., total asset turnover calculation, comparison to benchmarks
| Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||
| Net revenues | ||||||
| Total assets | ||||||
| Long-term Activity Ratio | ||||||
| Total asset turnover1 | ||||||
| Benchmarks | ||||||
| Total Asset Turnover, Competitors2 | ||||||
| Coca-Cola Co. | ||||||
| PepsiCo Inc. | ||||||
| Philip Morris International Inc. | ||||||
| Total Asset Turnover, Sector | ||||||
| Food, Beverage & Tobacco | ||||||
| Total Asset Turnover, Industry | ||||||
| Consumer Staples | ||||||
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).
1 2025 Calculation
Total asset turnover = Net revenues ÷ Total assets
= ÷ =
2 Click competitor name to see calculations.
The total asset turnover ratio demonstrates a consistent upward trend over the five-year period. This indicates increasing efficiency in utilizing assets to generate revenue.
- Total Asset Turnover Trend
- The ratio began at 0.43 in 2021 and increased to 0.54 in 2025. This represents a roughly 25% increase in asset utilization efficiency over the observed timeframe.
- Year-over-Year Changes
- From 2021 to 2022, the ratio experienced a modest increase from 0.43 to 0.44. The most significant improvement occurred between 2022 and 2023, with the ratio rising to 0.50. Further gains were observed in subsequent years, with increases to 0.53 in 2024 and 0.54 in 2025. The rate of increase slowed between 2023 and 2025.
- Relationship to Revenue and Assets
- Net revenues increased steadily throughout the period, from US$28,720 million in 2021 to US$38,537 million in 2025. Total assets remained relatively stable between 2021 and 2024, fluctuating between US$67,092 million and US$71,391 million, before increasing to US$71,487 million in 2025. The increasing turnover ratio, coupled with revenue growth and relatively stable asset levels, suggests improved operational efficiency.
- Implications
- A rising total asset turnover ratio is generally viewed favorably, as it suggests the company is becoming more effective at converting its investments in assets into sales. The observed trend may indicate successful strategies related to inventory management, production processes, or asset allocation.
Equity Turnover
Mondelēz International Inc., equity turnover calculation, comparison to benchmarks
| Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||
| Net revenues | ||||||
| Total Mondelēz International shareholders’ equity | ||||||
| Long-term Activity Ratio | ||||||
| Equity turnover1 | ||||||
| Benchmarks | ||||||
| Equity Turnover, Competitors2 | ||||||
| Coca-Cola Co. | ||||||
| PepsiCo Inc. | ||||||
| Philip Morris International Inc. | ||||||
| Equity Turnover, Sector | ||||||
| Food, Beverage & Tobacco | ||||||
| Equity Turnover, Industry | ||||||
| Consumer Staples | ||||||
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).
1 2025 Calculation
Equity turnover = Net revenues ÷ Total Mondelēz International shareholders’ equity
= ÷ =
2 Click competitor name to see calculations.
An increasing trend is observed in equity turnover from 2021 to 2025. This indicates a growing efficiency in generating revenue relative to the amount of shareholder equity invested in the business.
- Equity Turnover
- The equity turnover ratio demonstrates a consistent upward trajectory over the five-year period. Starting at 1.02 in 2021, the ratio rose to 1.49 by 2025. This signifies that for each dollar of equity, the company generated an increasing amount of revenue.
- The increase from 1.02 in 2021 to 1.17 in 2022 represents a 14.7% rise, suggesting improved asset utilization or a more efficient capital structure. The subsequent increase to 1.27 in 2023, and further to 1.35 in 2024, indicates this positive trend continued.
- The most substantial increase occurred between 2024 and 2025, with the ratio moving from 1.35 to 1.49, a 10.4% increase. This suggests a potentially accelerated improvement in the company’s ability to generate sales from its equity base during this period.
Concurrently, net revenues have also increased over the period, moving from US$28,720 million in 2021 to US$38,537 million in 2025. However, total shareholders’ equity experienced a slight decrease from US$28,269 million in 2021 to US$25,838 million in 2025. The combined effect of increasing revenues and decreasing equity contributed to the observed rise in equity turnover.
The consistent increase in equity turnover suggests effective management of equity financing and operations, leading to a more productive use of shareholder investments.