Analysis of Long-term (Investment) Activity Ratios
Quarterly Data
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 (quarterly data)
Based on: 10-K (reporting date: 2025-12-31), 10-Q (reporting date: 2025-09-30), 10-Q (reporting date: 2025-06-30), 10-Q (reporting date: 2025-03-31), 10-K (reporting date: 2024-12-31), 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31).
The investment activity ratios demonstrate generally positive trends over the observed period, indicating increasing efficiency in asset utilization. Both fixed asset turnover ratios, with and without operating leases, show improvement, as does total asset turnover and equity turnover. These increases suggest the company is generating more revenue per dollar invested in assets and equity.
- Net Fixed Asset Turnover
- The net fixed asset turnover ratio exhibits an upward trend from 3.24 in March 2022 to 3.61 in December 2025. While fluctuations occur, the overall trajectory is positive, peaking at 3.87 in September 2023 before settling slightly. This indicates increasing efficiency in utilizing fixed assets to generate revenue.
- Net Fixed Asset Turnover (Including Operating Lease, Right-of-Use Asset)
- Similar to the standard net fixed asset turnover, this ratio also demonstrates an increasing trend, moving from 3.03 in March 2022 to 3.38 in December 2025. The inclusion of operating lease obligations results in lower values compared to the standard ratio, but the trend remains consistently positive, peaking at 3.63 in September 2023. This suggests that incorporating lease obligations does not negate the overall improvement in fixed asset utilization.
- Total Asset Turnover
- The total asset turnover ratio shows a consistent increase from 0.43 in March 2022 to 0.54 in December 2025. This represents a significant improvement in the company’s ability to generate sales from its total asset base. The ratio experiences its highest values in the latter half of the period, specifically reaching 0.53 in December 2024 and 0.54 in December 2025.
- Equity Turnover
- The equity turnover ratio displays the most pronounced upward trend, increasing from 1.04 in March 2022 to 1.49 in December 2025. This indicates a substantial improvement in revenue generation relative to shareholder equity. The rate of increase appears to accelerate in the later quarters, suggesting a growing ability to leverage equity investments for sales.
In summary, the observed trends across all ratios point to improved asset utilization and increased efficiency in generating revenue from both assets and equity. The consistent positive movements suggest effective investment strategies and operational improvements over the analyzed timeframe.
Net Fixed Asset Turnover
Mondelēz International Inc., net fixed asset turnover calculation (quarterly data)
| Dec 31, 2025 | Sep 30, 2025 | Jun 30, 2025 | Mar 31, 2025 | Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | ||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 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. | |||||||||||||||||||||
Based on: 10-K (reporting date: 2025-12-31), 10-Q (reporting date: 2025-09-30), 10-Q (reporting date: 2025-06-30), 10-Q (reporting date: 2025-03-31), 10-K (reporting date: 2024-12-31), 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31).
1 Q4 2025 Calculation
Net fixed asset turnover
= (Net revenuesQ4 2025
+ Net revenuesQ3 2025
+ Net revenuesQ2 2025
+ Net revenuesQ1 2025)
÷ Property, plant and equipment, net
= ( + + + )
÷ =
2 Click competitor name to see calculations.
The net fixed asset turnover ratio demonstrates a generally increasing trend over the observed period, with some quarterly fluctuations. This ratio, which measures how efficiently a company utilizes its fixed assets to generate revenue, has shown improvement from 3.24 in the first quarter of 2022 to 3.61 in the final quarter of 2025.
- Overall Trend
- From March 31, 2022, through December 31, 2023, the ratio generally increased, indicating improving efficiency in asset utilization. A peak of 3.87 was reached in September 2023. Subsequent quarters show some moderation, but the ratio remains consistently above the initial value from early 2022.
- Short-Term Fluctuations
- While the overall trend is positive, quarterly variations are present. A slight decrease was observed from the first to the second quarter of 2022, followed by consistent increases through September 2023. The final quarters of 2023 and the first half of 2024 show a slight dip before stabilizing and increasing again in the latter half of 2025.
- Recent Performance
- The ratio experienced a slight decline from 3.84 in December 2023 to 3.60 in June 2025. However, it recovered to 3.64 in September 2025 and 3.61 in December 2025. This suggests potential short-term challenges in asset utilization that were subsequently addressed, or that the initial decline was an anomaly.
- Revenue and Asset Relationship
- The observed increases in the net fixed asset turnover ratio generally align with increases in net revenues, while the growth in property, plant, and equipment has been more moderate. This suggests that revenue growth is outpacing the investment in fixed assets, contributing to the improved turnover ratio.
In conclusion, the net fixed asset turnover ratio indicates a positive trend in the company’s ability to generate revenue from its fixed asset base. While some quarterly variations exist, the overall pattern suggests increasing efficiency in asset utilization over the analyzed period.
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 (quarterly data)
Based on: 10-K (reporting date: 2025-12-31), 10-Q (reporting date: 2025-09-30), 10-Q (reporting date: 2025-06-30), 10-Q (reporting date: 2025-03-31), 10-K (reporting date: 2024-12-31), 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31).
1 Q4 2025 Calculation
Net fixed asset turnover (including operating lease, right-of-use asset)
= (Net revenuesQ4 2025
+ Net revenuesQ3 2025
+ Net revenuesQ2 2025
+ Net revenuesQ1 2025)
÷ Property, plant and equipment, net (including operating lease, right-of-use asset)
= ( + + + )
÷ =
The net fixed asset turnover ratio, incorporating operating leases and right-of-use assets, demonstrates a generally positive trend over the observed period, with some quarterly fluctuations. Initial values indicate a ratio of 3.03 in March 2022, increasing to 3.36 by March 2023. Further increases are noted through September 2023, peaking at 3.63, before experiencing a slight decline to 3.38 by December 2025.
- Overall Trend
- The ratio generally increased from early 2022 through late 2023, suggesting improving efficiency in utilizing fixed assets to generate revenue. The subsequent stabilization and slight decrease in the latter part of the period may indicate a plateauing of this efficiency or the impact of increased investment in fixed assets.
- Quarterly Fluctuations
- While the overall trend is positive, quarterly variations are present. For example, a decrease is observed from December 2022 (3.25) to March 2023 (3.36), followed by a more substantial increase to September 2023 (3.63). Similar patterns of increase and slight decrease are visible throughout the period, potentially reflecting seasonal sales patterns or timing differences in asset deployment.
- Recent Performance
- The ratio remained relatively stable between March 2024 (3.54) and December 2025 (3.38). This suggests that revenue growth and fixed asset investment have been relatively balanced during this timeframe. The slight decrease in the most recent quarter could warrant further investigation to determine if it represents a temporary fluctuation or the beginning of a more sustained decline.
- Relationship to Revenue
- The observed increases in the net fixed asset turnover ratio generally coincide with periods of revenue growth. This suggests a positive correlation between the company’s ability to generate sales and its efficient use of fixed assets. However, the ratio’s stabilization in recent quarters, despite continued revenue increases, indicates that asset investment is keeping pace with sales growth.
In conclusion, the net fixed asset turnover ratio indicates a generally efficient utilization of fixed assets to generate revenue. While fluctuations exist, the overall trend suggests effective asset management, although recent stability warrants continued monitoring.
Total Asset Turnover
Mondelēz International Inc., total asset turnover calculation (quarterly data)
| Dec 31, 2025 | Sep 30, 2025 | Jun 30, 2025 | Mar 31, 2025 | Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | ||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 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. | |||||||||||||||||||||
Based on: 10-K (reporting date: 2025-12-31), 10-Q (reporting date: 2025-09-30), 10-Q (reporting date: 2025-06-30), 10-Q (reporting date: 2025-03-31), 10-K (reporting date: 2024-12-31), 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31).
1 Q4 2025 Calculation
Total asset turnover
= (Net revenuesQ4 2025
+ Net revenuesQ3 2025
+ Net revenuesQ2 2025
+ Net revenuesQ1 2025)
÷ Total assets
= ( + + + )
÷ =
2 Click competitor name to see calculations.
The total asset turnover ratio for the analyzed period demonstrates a generally increasing trend, with some quarterly fluctuations. Initially, the ratio exhibited stability before showing improvement in later periods. This suggests a growing efficiency in utilizing assets to generate revenue.
- Initial Period (Mar 31, 2022 – Dec 31, 2022)
- The ratio began at 0.43 and fluctuated between 0.43 and 0.45 for the first three quarters. A slight increase to 0.44 was observed in the final quarter of 2022, indicating a minimal change in asset utilization during this timeframe.
- Improvement Phase (Mar 31, 2023 – Dec 31, 2023)
- A clear upward trend emerged starting in the first quarter of 2023, with the ratio increasing from 0.45 to 0.50 by the end of the year. This suggests improved efficiency in converting assets into sales revenue. The ratio reached 0.47 in the first quarter, 0.50 in the third, and maintained at 0.50 in the fourth quarter of 2023.
- Continued Growth and Stabilization (Mar 31, 2024 – Dec 31, 2025)
- The ratio continued to climb in the first half of 2024, peaking at 0.53 in the second quarter. It then experienced a slight decrease to 0.52 in the third quarter, before stabilizing around 0.53-0.54 through the end of the analyzed period. The final reported value for December 31, 2025, is 0.54, representing the highest point in the observed timeframe. This indicates a sustained level of efficiency in asset utilization.
- Overall Trend
- The overall trend indicates a positive development in asset management. The increase in the total asset turnover ratio suggests that the company is becoming more effective at generating sales revenue from its asset base. The stabilization in the most recent quarters implies a consistent and potentially optimal level of asset utilization.
Equity Turnover
Mondelēz International Inc., equity turnover calculation (quarterly data)
| Dec 31, 2025 | Sep 30, 2025 | Jun 30, 2025 | Mar 31, 2025 | Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | ||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 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. | |||||||||||||||||||||
Based on: 10-K (reporting date: 2025-12-31), 10-Q (reporting date: 2025-09-30), 10-Q (reporting date: 2025-06-30), 10-Q (reporting date: 2025-03-31), 10-K (reporting date: 2024-12-31), 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31).
1 Q4 2025 Calculation
Equity turnover
= (Net revenuesQ4 2025
+ Net revenuesQ3 2025
+ Net revenuesQ2 2025
+ Net revenuesQ1 2025)
÷ Total Mondelēz International shareholders’ equity
= ( + + + )
÷ =
2 Click competitor name to see calculations.
The equity turnover ratio for the analyzed period demonstrates a consistent upward trend. Initially, the ratio fluctuated around 1.0, but exhibited increasing values over the subsequent quarters, culminating in a ratio of 1.49.
- Overall Trend
- From March 31, 2022, to December 31, 2025, the equity turnover ratio generally increased. The ratio moved from 1.04 to 1.49, indicating a growing efficiency in generating revenue from shareholders’ equity.
- Initial Period (Mar 31, 2022 – Dec 31, 2022)
- The ratio experienced moderate growth during this period, increasing from 1.04 to 1.17. This suggests a gradual improvement in the company’s ability to generate sales relative to its equity base.
- Period of Stabilization (Mar 31, 2023 – Sep 30, 2023)
- The ratio remained relatively stable between 1.17 and 1.24 during this timeframe. While still positive, the rate of increase slowed, suggesting a plateau in revenue generation efficiency relative to equity.
- Accelerated Growth (Dec 31, 2023 – Dec 31, 2025)
- A more pronounced increase in the equity turnover ratio was observed from December 31, 2023, to December 31, 2025. The ratio climbed from 1.27 to 1.49, indicating a significant improvement in the company’s efficiency in utilizing equity to generate revenue. This acceleration suggests potentially improved operational performance or strategic shifts impacting revenue generation.
- Quarterly Fluctuations
- While the overall trend is upward, minor quarterly fluctuations are present. For example, a slight decrease is observed between December 31, 2023 (1.27) and March 31, 2024 (1.27), followed by a consistent increase. These fluctuations likely reflect seasonal sales patterns or short-term market conditions.
The consistent increase in the equity turnover ratio suggests that the company is becoming more effective at utilizing its shareholders’ equity to generate revenue. The acceleration in growth during the latter part of the analyzed period warrants further investigation to understand the underlying drivers of this improved performance.