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.
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- Balance Sheet: Assets
- Balance Sheet: Liabilities and Stockholders’ Equity
- Common-Size Income Statement
- Selected Financial Data since 2005
- Net Profit Margin since 2005
- Operating Profit Margin since 2005
- Debt to Equity since 2005
- Total Asset Turnover since 2005
- Price to Book Value (P/BV) since 2005
- Analysis of Revenues
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Long-term Activity Ratios (Summary)
Mondelēz International Inc., long-term (investment) activity ratios (quarterly data)
Based on: 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), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31).
- Net fixed asset turnover
- The net fixed asset turnover ratio demonstrates a generally upward trend from March 2020 through June 2025. Starting around 2.94 in the earliest available data, the ratio increases gradually over time, peaking near 3.87 by December 2023. Although there are minor fluctuations, with values occasionally dipping slightly, the overall trend suggests improving efficiency in generating sales from fixed assets over the period.
- Net fixed asset turnover (including operating lease, right-of-use asset)
- This ratio follows a similar pattern to the standard net fixed asset turnover, albeit at slightly lower values. It starts near 2.75 and experiences steady increments, reaching a high point of approximately 3.63 in December 2023. Fluctuations are present but limited, indicating consistent management of assets, including leased assets, in relation to sales across the quarters.
- Total asset turnover
- The total asset turnover ratio exhibits a steady and modest increase from about 0.39 in early 2020 to about 0.53 by mid-2025. This indicates an enhanced ability to generate revenues from the company’s total asset base over time. Period-to-period changes are incremental without abrupt deviations, reflecting a stable improvement in asset utilization efficiency overall.
- Equity turnover
- Equity turnover shows a clear upward trajectory, improving from approximately 0.96 in early 2020 to around 1.42 by the second quarter of 2025. The increase is steady and consistent, suggesting that the company is generating higher sales relative to shareholders’ equity. This trend points to more efficient use of equity capital in driving revenue growth across the examined periods.
Net Fixed Asset Turnover
Mondelēz International Inc., net fixed asset turnover calculation (quarterly data)
| 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 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 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-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), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31).
1 Q2 2025 Calculation
Net fixed asset turnover
= (Net revenuesQ2 2025
+ Net revenuesQ1 2025
+ Net revenuesQ4 2024
+ Net revenuesQ3 2024)
÷ Property, plant and equipment, net
= ( + + + )
÷ =
2 Click competitor name to see calculations.
- Net Revenues
- The net revenues exhibit a seasonal pattern characterized by relatively lower revenues in the second quarter each year, followed by increases in the third and fourth quarters. From 2020 to 2021, net revenues generally showed recovery and growth, with a notable increase from 7298 million in December 2020 to 7658 million by December 2021. In 2022 and 2023, revenues continued a similar trend of seasonal dips in the mid-year quarters but maintained an overall upward trajectory, reaching a peak of 9314 million by December 2023. From the beginning of 2024 to the third quarter of 2025, net revenues showed fluctuations with a slight downward trend visible in several quarters, particularly in June 2024 and June 2025, indicating some stabilizing or softening sales environment.
- Property, Plant and Equipment, Net
- The carrying value of property, plant, and equipment (net) showed an overall increasing trend throughout the period. Beginning at 8054 million in March 2020, the asset base expanded steadily with occasional minor contractions, reaching a high of 10313 million by December 2025. Periodical decreases, such as those observed in mid-2020 and mid-2022, are offset by consistent investments or revaluations afterward. The general upward trend indicates ongoing capital expenditures or acquisitions of fixed assets, supporting capacity or operational enhancement over time.
- Net Fixed Asset Turnover Ratio
- The net fixed asset turnover ratio, available from September 2020 onward, demonstrated a positive trend, increasing from 2.94 to a peak of 3.87 by September 2023. This increase suggests improving efficiency in utilizing fixed assets to generate revenues. Following the peak, the ratio showed slight volatility but remained relatively high, fluctuating between 3.6 and 3.84 through the end of the forecast period. This indicates that despite fluctuations in revenues or fixed asset base, the company maintained effective deployment of its fixed assets to generate sales.
- Overall Insights
- Over the fourteen-quarter span, the company consistently increased its asset base while simultaneously improving the efficiency of asset utilization, as reflected by the rising net fixed asset turnover ratio. The revenue stream displays a clear seasonality but maintains an upward trend until late 2023, with some moderation in 2024 and 2025. The patterns suggest strategic investment in plant and equipment aligned with efforts to optimize asset productivity and support sustained revenue growth, albeit with recent signs of stabilization or slight weakening in revenue progression.
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-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), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31).
1 Q2 2025 Calculation
Net fixed asset turnover (including operating lease, right-of-use asset)
= (Net revenuesQ2 2025
+ Net revenuesQ1 2025
+ Net revenuesQ4 2024
+ Net revenuesQ3 2024)
÷ Property, plant and equipment, net (including operating lease, right-of-use asset)
= ( + + + )
÷ =
The financial data reveals several notable trends across the reported periods. Net revenues exhibit a pattern of fluctuations with an overall positive trajectory over the long term. Beginning at 6,707 million US dollars in the first quarter of 2020, revenues experience a dip in mid-2020 but rebound decisively by the end of that year. From 2021 onwards, revenues generally maintain an upward momentum with some variations, peaking at 9,604 million US dollars in the third quarter of 2025 before a slight decrease in the subsequent quarter.
Property, plant, and equipment (net), inclusive of operating lease and right-of-use assets, shows a steady increase over time. Starting at 8,644 million US dollars in March 2020, there is a general upward trend noted through the quarters, reaching 11,074 million US dollars by the last recorded period in June 2025. This indicates ongoing asset investment or capital expenditures, with some minor fluctuations but without any significant or sustained declines.
The net fixed asset turnover ratio, which measures efficiency in using fixed assets to generate revenue, shows consistent growth early in the reported periods, starting at approximately 2.75 at the end of 2020 and increasing to a peak of 3.63 by the third quarter of 2023. Following this peak, the ratio exhibits some volatility but remains relatively high, fluctuating between 3.35 and 3.56 through 2024 and into mid-2025.
- Net Revenues
- Initial decline in mid-2020 followed by a recovery and sustained growth until late 2023. A mild decrease and some variability are observed toward 2025.
- Property, Plant, and Equipment (Net)
- Steady and continuous growth observed across the full timeline, suggesting ongoing investment in physical and lease assets.
- Net Fixed Asset Turnover Ratio
- Improvement in asset utilization efficiency through 2023, peaking above 3.6, followed by moderate fluctuations, but maintaining relatively high levels thereafter.
In summary, the data suggests strengthening financial performance with increasing revenues and asset base over time. The improved fixed asset turnover ratio reflects enhanced operational efficiency in utilizing assets to generate sales. Minor declines and fluctuations in some quarters may indicate external or market influences but do not materially alter the overall positive trends observed.
Total Asset Turnover
Mondelēz International Inc., total asset turnover calculation (quarterly data)
| 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 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 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-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), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31).
1 Q2 2025 Calculation
Total asset turnover
= (Net revenuesQ2 2025
+ Net revenuesQ1 2025
+ Net revenuesQ4 2024
+ Net revenuesQ3 2024)
÷ Total assets
= ( + + + )
÷ =
2 Click competitor name to see calculations.
The analysis reveals that net revenues exhibit a generally upward trend over the periods under review, with some fluctuations observed quarter to quarter. Starting from approximately 6,707 million US dollars in the first quarter of 2020, revenues experienced a decline in the subsequent quarter, followed by a recovery and steady growth reaching a peak around the end of 2023. The revenues then exhibit mild volatility but tend to hover around elevated levels compared to early 2020, suggesting resilience and potential growth despite short-term variations.
Total assets show relative stability with moderate increases and decreases across the timeline. Initial values near 63,598 million US dollars rise gradually to peak levels above 77,000 million US dollars in mid-2024 before declining slightly towards the latter periods. This pattern suggests ongoing asset base adjustments possibly aligned with operational needs and strategic asset management.
The total asset turnover ratio, which measures the efficiency in utilizing assets to generate revenue, shows a clear positive trajectory over the period. Starting at about 0.39, the ratio steadily increases, reaching values as high as approximately 0.53 before slightly easing towards the latest quarters. This improvement indicates enhanced operational efficiency or better asset utilization over time, contributing to stronger revenue generation relative to asset levels.
- Net Revenues Trends
- Initially fluctuating with a mid-year dip in 2020, followed by a recovering and generally rising trend throughout subsequent periods, peaking near late 2023.
- Total Assets Movement
- Moderate net increase over time with peaks in mid-2024 and some declines thereafter, indicating strategic asset management amid evolving business conditions.
- Total Asset Turnover Ratio
- Steady improvement from 0.39 to roughly 0.53 signifies increasing efficiency in asset utilization to generate sales, enhancing operational performance.
Equity Turnover
Mondelēz International Inc., equity turnover calculation (quarterly data)
| 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 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 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-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), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31).
1 Q2 2025 Calculation
Equity turnover
= (Net revenuesQ2 2025
+ Net revenuesQ1 2025
+ Net revenuesQ4 2024
+ Net revenuesQ3 2024)
÷ Total Mondelēz International shareholders’ equity
= ( + + + )
÷ =
2 Click competitor name to see calculations.
- Net Revenues
- Net revenues exhibited noticeable seasonal fluctuations within each fiscal year, with higher values in the December quarters compared to other quarters. Over the period analyzed, there was an overall upward trend in net revenues from around 6.7 billion USD in the first quarter of 2020 to more than 9 billion USD by the first quarter of 2025. Despite some quarterly volatility, particularly visible in decreases between consecutive quarters like June to September 2024 and others, the general pattern reflects steady revenue growth over five years.
- Total Mondelēz International Shareholders’ Equity
- Shareholders’ equity showed some variability over the reported quarters but remained relatively stable around a range from about 25.7 billion to just above 28.6 billion USD. After peaking near 28.3 billion USD in late 2021 and early 2023, equity values showed a gradual declining trend starting in mid-2023 through mid-2025, ending just below 26.2 billion USD. This suggests moderate fluctuations possibly due to changes in retained earnings, dividends, or other comprehensive income, but without dramatic swings indicating major equity dilution or recapitalization.
- Equity Turnover Ratio
- The equity turnover ratio, starting to be reported in late 2020, revealed a steadily increasing trend over time. Beginning near 0.96, it rose consistently to about 1.42 by mid-2025. This upward momentum implies improving efficiency in generating revenues from equity, signaling enhanced asset utilization or better operational performance relative to shareholders' equity. The rise in this ratio matches the upward trend in net revenues, while equity remained somewhat stable to slightly declining.