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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Long-term Activity Ratios (Summary)
Mondelēz International Inc., long-term (investment) activity ratios (quarterly data)
Based on: 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).
The analysis of the quarterly financial ratios over the observed periods reveals several notable trends in asset and equity utilization efficiency.
- Net Fixed Asset Turnover
- The net fixed asset turnover ratio demonstrates a generally upward trajectory from the initial recorded period in March 2020 through March 2025. Starting around 2.94 in early 2020, the ratio incrementally increases, reaching peaks above 3.80 in late 2023 and early 2024, before stabilizing slightly below this threshold. This upward trend suggests improving efficiency in generating revenue relative to net fixed assets, indicating better utilization or enhanced productivity of the company’s fixed assets.
- Net Fixed Asset Turnover (Including Operating Lease, Right-of-Use Asset)
- Including operating leases and right-of-use assets exhibits a similar but slightly lower pattern compared to the net fixed asset turnover alone. The ratio starts near 2.75 and gradually rises to the mid-3.5 range before experiencing minor fluctuations around this level towards the end of the period. The consistency between both metrics suggests that the inclusion of leased assets does not significantly distort asset turnover dynamics but does reflect slightly lower efficiency measures possibly due to the differing nature of leased assets.
- Total Asset Turnover
- Total asset turnover shows a steady increase over time, beginning from 0.39 and improving to approximately 0.53 by the end of the observed series. This upward movement highlights an enhanced ability to generate sales from total assets, signaling improved operational efficiency or asset management on a broader scale beyond fixed assets alone.
- Equity Turnover
- Equity turnover displays a consistent rising trend, moving from 0.96 to 1.41 during the analyzed periods. This growth indicates increasingly effective use of shareholder equity to produce revenue. The increase suggests stronger financial leverage or enhanced capital structure efficiency influencing the capacity to generate sales from equity.
Overall, the ratios indicate a positive development in asset and equity usage efficiency across multiple dimensions. The steady climbs in turnover ratios suggest sustained improvements in operational performance, asset management, and capital utilization from 2020 through the projected 2025 period. Minor fluctuations in late periods warrant monitoring but do not significantly detract from the broad pattern of increased efficiency.
Net Fixed Asset Turnover
Mondelēz International Inc., net fixed asset turnover calculation (quarterly data)
| 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: 2025-03-31), 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 Q1 2025 Calculation
Net fixed asset turnover
= (Net revenuesQ1 2025
+ Net revenuesQ4 2024
+ Net revenuesQ3 2024
+ Net revenuesQ2 2024)
÷ Property, plant and equipment, net
= ( + + + )
÷ =
2 Click competitor name to see calculations.
The financial data indicates notable fluctuations and trending patterns across multiple quarters for the examined company. Net revenues show a generally upward trajectory over the five-year period, despite some interim declines. There is a visible cyclical pattern with peaks typically in the fourth quarter of each year, which may suggest seasonal influences on sales performance.
Beginning with net revenues, the figures started at 6,707 million US dollars in the first quarter of 2020, experiencing a dip in the second quarter of 2020, followed by recovery and gradual growth. By the first quarter of 2025, net revenues reached 9,313 million US dollars, reflecting a substantial increase from the baseline period. The growth is somewhat uneven, with declines notably in the middle quarters of some years—for example, a decrease in the second quarter of 2024 compared to the previous quarter—indicating volatility possibly linked to external market factors.
The property, plant, and equipment (PP&E) net values also display fluctuations but overall exhibit growth from 8,054 million US dollars in early 2020 to 9,767 million US dollars in the first quarter of 2025. The values tend to increase steadily with occasional minor reversals, such as the decrease seen at mid-2024. This suggests a consistent investment in fixed assets, signaling capacity expansion or ongoing capital expenditures.
Regarding operational efficiency, the net fixed asset turnover ratio demonstrates a positive trend. Starting from a ratio of 2.94 in the fourth quarter of 2020, it generally rises to a high of 3.87 in the fourth quarter of 2023 before stabilizing around 3.70-3.80 through early 2025. This increasing turnover ratio indicates improving effectiveness in utilizing fixed assets to generate revenue, implying better asset management or enhanced operational productivity over the analyzed period.
In summary, the company shows growth in net revenues supported by steady investment in fixed assets. The upward trend in net fixed asset turnover ratio signals improved efficiency in asset utilization. However, intermittent revenue decreases highlight some vulnerability to market conditions or seasonal factors. Monitoring these fluctuations while maintaining asset growth and efficient usage will be critical for sustaining positive financial development.
- Net Revenues
- Gradual increase from 6,707 million to 9,313 million US dollars; seasonal peaks in Q4; intermittent mid-year declines.
- Property, Plant, and Equipment (Net)
- Incremental growth from 8,054 million to 9,767 million US dollars; occasional minor decreases; consistent capital investment implied.
- Net Fixed Asset Turnover Ratio
- Improvement from 2.94 to peak at 3.87; slight stabilization near the end of the period; indicates greater asset efficiency.
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: 2025-03-31), 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 Q1 2025 Calculation
Net fixed asset turnover (including operating lease, right-of-use asset)
= (Net revenuesQ1 2025
+ Net revenuesQ4 2024
+ Net revenuesQ3 2024
+ Net revenuesQ2 2024)
÷ Property, plant and equipment, net (including operating lease, right-of-use asset)
= ( + + + )
÷ =
- Net Revenues
- The net revenues exhibit a generally increasing trend over the observed period, starting at 6,707 million USD in March 2020 and reaching 9,313 million USD by March 2025. Despite some quarterly fluctuations, revenues tend to increase notably during the later quarters of each fiscal year, particularly around December. The data also shows revenue dips in mid-year quarters but recovers strongly by year-end. This pattern suggests a seasonal element affecting sales, with stronger performances in the fourth quarter consistently observed.
- Property, Plant and Equipment, Net
- The net value of property, plant, and equipment, including operating lease right-of-use assets, rises steadily from 8,644 million USD in March 2020 to 10,528 million USD by March 2025. Although there are small periodic declines or stagnations in some quarters, the overall asset base reflects continuous investment or valuation increases. This indicates sustained capital expenditure or asset revaluation supporting the company's operational capacity through the years.
- Net Fixed Asset Turnover Ratio
- The net fixed asset turnover ratio shows a clear upward trajectory from the end of 2020 when data begins, starting at 2.75 and increasing to a peak of 3.63 by December 2023. Subsequently, the ratio fluctuates with some decline but remains elevated above 3.4 through March 2025. The rising trend in this ratio suggests improving efficiency in utilizing fixed assets to generate revenues. Despite minor short-term variances, the company appears to be optimizing asset usage over the years.
- Overall Insights
- The company demonstrates steady revenue growth alongside an expanding asset base, with increasing efficiency in converting assets into revenue. Seasonal patterns impact revenue notably with stronger year-end performances. Capital investment in property and equipment continues progressively, potentially supporting future growth. The improvement in fixed asset turnover ratio confirms enhanced operational efficiency, reflecting a positive capacity management strategy in recent years.
Total Asset Turnover
Mondelēz International Inc., total asset turnover calculation (quarterly data)
| 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: 2025-03-31), 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 Q1 2025 Calculation
Total asset turnover
= (Net revenuesQ1 2025
+ Net revenuesQ4 2024
+ Net revenuesQ3 2024
+ Net revenuesQ2 2024)
÷ Total assets
= ( + + + )
÷ =
2 Click competitor name to see calculations.
- Net Revenues
- The net revenues display a general upward trend over the periods analyzed. Starting at 6,707 million USD in March 2020, revenues experienced some fluctuations, with declines observed in the second quarters of 2020, 2021, 2022, and 2024. However, these declines were followed by recoveries in subsequent quarters. The highest revenue point appears in December 2023 at 9,314 million USD, indicating strong growth compared to early 2020. Despite periodic dips, the overall trajectory suggests a positive growth momentum in net revenues during the analyzed timeframe.
- Total Assets
- Total assets show moderate variability across the time periods. Beginning at 63,598 million USD in March 2020, assets generally increased to a peak of 77,624 million USD in June 2024. Thereafter, a mild decline is visible through the last quarter, with assets decreasing to 68,927 million USD by March 2025. The fluctuations suggest occasional asset disposals or revaluations, but the substantial growth peak around mid-2024 demonstrates expanded asset base capacity during most of the period.
- Total Asset Turnover
- This ratio, which measures efficiency in generating revenue from assets, exhibits a gradual improvement over the quarters reported. From 0.39 in September 2020, the ratio rose steadily, reaching 0.53 by December 2024, and maintained at 0.53 in the final quarter reported. This improvement implies enhanced asset utilization, indicating increasing operational efficiency and better management of the company’s asset base with respect to generating sales.
- Summary Insights
- The combination of rising net revenues and improving total asset turnover indicates overall enhanced performance, suggesting the company is effectively leveraging its assets to generate income. The moderate fluctuations in total assets, though somewhat volatile especially post mid-2024, do not appear to detract from operational gains. The pattern of revenue dips followed by recoveries points to resilience amid changing market or operational conditions. Together, these trends reflect a generally favorable financial position and effectiveness in asset use within the periods analyzed.
Equity Turnover
Mondelēz International Inc., equity turnover calculation (quarterly data)
| 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: 2025-03-31), 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 Q1 2025 Calculation
Equity turnover
= (Net revenuesQ1 2025
+ Net revenuesQ4 2024
+ Net revenuesQ3 2024
+ Net revenuesQ2 2024)
÷ Total Mondelēz International shareholders’ equity
= ( + + + )
÷ =
2 Click competitor name to see calculations.
The financial data reveals several notable trends in revenues, shareholders' equity, and equity turnover for the periods analyzed.
- Net Revenues
- The net revenues exhibit a generally upward trajectory from March 2020 through March 2025, with some fluctuations. Starting at approximately $6.7 billion in the first quarter of 2020, revenues dipped to a low of around $5.9 billion in the second quarter of 2020 but rebounded thereafter. From late 2020 onward, there is a clear pattern of incremental growth, reaching a peak near $9.3 billion by December 2024 before a slight decrease in the final quarter to $9.3 billion. Overall, the data suggests a recovery from early 2020 challenges and consistent growth through subsequent years.
- Total Shareholders’ Equity
- Total shareholders’ equity has shown moderate volatility across the same period. Starting at about $25.7 billion in the first quarter of 2020, equity increased steadily until the end of 2020, peaking near $28.3 billion by December 2021. Following this peak, a gradual decline is observable from 2022 onwards, with equity falling to approximately $25.8 billion by March 2025. This decline in shareholders’ equity may reflect share repurchases, dividend payouts, or other capital structure activities influenced by operational performance or market conditions.
- Equity Turnover
- Equity turnover, reported from September 2020 forward, displays a consistent upward trend across the quarters. Beginning at 0.96 in September 2020, the ratio steadily rises to 1.41 by March 2025. This indicates improving efficiency in using shareholders’ equity to generate revenues, suggesting enhanced asset utilization or operating performance. The upward movement in equity turnover aligns with the increase in net revenues, supporting the interpretation of improved operational effectiveness despite the decline in shareholders’ equity.
In summary, the data implies that despite some pressures on shareholders' equity, the company has demonstrated resilience and effective capital use, reflected in rising revenues and increasing efficiency ratios. The trend toward higher equity turnover alongside growing revenues suggests strengthening financial performance and potentially enhanced management of equity resources over the analyzed timeframe.