Analysis of Profitability Ratios
Quarterly Data
Profitability ratios measure the company ability to generate profitable sales from its resources (assets).
Profitability Ratios (Summary)
Mondelēz International Inc., profitability ratios (quarterly data)
Based on: 10-Q (reporting date: 2026-06-30), 10-Q (reporting date: 2026-03-31), 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 profitability profile exhibits significant volatility over the analyzed period, characterized by a cyclical pattern of contraction, recovery, and a subsequent sharp decline followed by a nascent rebound. A general trend of margin compression is evident in the latter half of the period, specifically throughout 2025.
- Gross Profit Margin
- The gross margin experienced an initial decline through 2022, reaching a low of 35.92% by December 31, 2022. A strong recovery followed in 2023, peaking at 41.69% in March 2024. However, a severe downward trajectory occurred throughout 2025, with the margin falling to a period low of 28.38% by December 31, 2025, before recovering to 31.15% by June 30, 2026.
- Operating and Net Profit Margins
- Both operating and net margins mirror the movements of the gross margin. Operating profit margin peaked at 18.61% in March 2024 but collapsed to 9.21% by December 2025. Net profit margin followed a similar trajectory, dropping from a peak of 13.77% in December 2023 and a subsequent high of 12.65% in December 2024, to a nadir of 6.36% in December 2025. By June 30, 2026, these figures showed signs of stabilization, with the operating margin rising to 11.22% and the net margin to 8.86%.
- Return on Equity (ROE) and Return on Assets (ROA)
- Efficiency ratios demonstrate a strong correlation with net profitability. ROE reached its highest levels between December 2023 (17.50%) and December 2024 (17.12%), before plummeting to 9.49% in December 2025. Similarly, ROA peaked at 6.95% in December 2023 and 6.73% in December 2024, subsequently dropping to 3.43% in December 2025. Both metrics showed a recovery trend in the first half of 2026, with ROE climbing to 13.20% and ROA returning to 4.93%.
The synchronization of these ratios suggests that the sharp decline observed in 2025 was driven by primary cost pressures or revenue contractions affecting the gross margin, which flowed directly through to operating income, net profit, and overall return metrics. The recovery observed in the first two quarters of 2026 indicates a potential reversal of these pressures.
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Return on Sales
Return on Investment
Gross Profit Margin
Mondelēz International Inc., gross profit margin calculation (quarterly data)
| Jun 30, 2026 | Mar 31, 2026 | 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) | ||||||||||||||||||||||||
| Gross profit | 3,986) | 2,803) | 2,956) | 2,612) | 2,937) | 2,430) | 3,711) | 2,999) | 2,797) | 4,750) | 3,470) | 3,494) | 3,354) | 3,446) | 3,075) | 2,613) | 2,641) | 2,983) | ||||||
| Net revenues | 9,355) | 10,080) | 10,496) | 9,744) | 8,984) | 9,313) | 9,604) | 9,204) | 8,343) | 9,290) | 9,314) | 9,029) | 8,507) | 9,166) | 8,695) | 7,763) | 7,274) | 7,764) | ||||||
| Profitability Ratio | ||||||||||||||||||||||||
| Gross profit margin1 | 31.15% | 28.77% | 28.38% | 31.05% | 32.55% | 32.74% | 39.12% | 38.77% | 40.34% | 41.69% | 38.22% | 37.77% | 36.59% | 35.79% | 35.92% | 36.34% | 37.76% | 38.54% | ||||||
| Benchmarks | ||||||||||||||||||||||||
| Gross Profit Margin, Competitors2 | ||||||||||||||||||||||||
| Coca-Cola Co. | 61.89% | 61.74% | 61.63% | 61.63% | 61.43% | 61.07% | 61.06% | 60.43% | 60.53% | 59.98% | 59.52% | 59.14% | 58.52% | 58.09% | 58.14% | 58.49% | 58.89% | 60.27% | ||||||
| PepsiCo Inc. | 53.96% | 54.06% | 54.15% | 53.96% | 54.43% | 54.74% | 54.55% | 54.68% | 54.44% | 54.13% | 54.21% | 53.93% | 53.58% | 53.28% | 53.03% | 53.03% | 53.13% | 53.20% | ||||||
| Philip Morris International Inc. | 67.51% | 67.30% | 67.12% | 66.92% | 66.44% | 65.68% | 64.81% | 64.08% | 63.88% | 63.70% | 63.35% | 63.12% | 62.58% | 63.07% | 64.10% | 65.32% | 66.49% | 67.17% | ||||||
Based on: 10-Q (reporting date: 2026-06-30), 10-Q (reporting date: 2026-03-31), 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 Q2 2026 Calculation
Gross profit margin = 100
× (Gross profitQ2 2026
+ Gross profitQ1 2026
+ Gross profitQ4 2025
+ Gross profitQ3 2025)
÷ (Net revenuesQ2 2026
+ Net revenuesQ1 2026
+ Net revenuesQ4 2025
+ Net revenuesQ3 2025)
= 100 × (3,986 + 2,803 + 2,956 + 2,612)
÷ (9,355 + 10,080 + 10,496 + 9,744)
= 31.15%
2 Click competitor name to see calculations.
The gross profit margin exhibits significant volatility over the analyzed period, characterized by an initial period of fluctuation, a peak in efficiency, and a subsequent sharp contraction followed by a partial recovery.
- Early Trend and Recovery (2022-2023)
- A gradual decline in the gross profit margin was observed throughout 2022, falling from 38.54% in March to 35.92% by December. This downward trend reversed in 2023, with the margin demonstrating a consistent quarter-over-quarter recovery to reach 38.22% by the end of the year.
- Peak Performance (2024)
- Profitability reached its maximum level in the first quarter of 2024, peaking at 41.69%. Although the margin moderated throughout the remainder of the year, it remained relatively strong, concluding December 2024 at 39.12%.
- Margin Compression and Recent Volatility (2025-2026)
- A substantial deterioration in gross profit margins occurred beginning in March 2025, with a sharp drop to 32.74%. The decline accelerated through the year, hitting a period low of 28.38% in December 2025. This compression occurred despite net revenues reaching their highest absolute values during this timeframe, suggesting that the cost of goods sold increased at a rate significantly higher than revenue growth. A moderate rebound is evident in the first half of 2026, with the margin improving to 31.15% by June.
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Operating Profit Margin
Mondelēz International Inc., operating profit margin calculation (quarterly data)
| Jun 30, 2026 | Mar 31, 2026 | 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) | ||||||||||||||||||||||||
| Operating income | 1,946) | 808) | 952) | 744) | 1,172) | 680) | 1,611) | 1,153) | 854) | 2,727) | 1,193) | 1,379) | 1,425) | 1,505) | 834) | 679) | 927) | 1,094) | ||||||
| Net revenues | 9,355) | 10,080) | 10,496) | 9,744) | 8,984) | 9,313) | 9,604) | 9,204) | 8,343) | 9,290) | 9,314) | 9,029) | 8,507) | 9,166) | 8,695) | 7,763) | 7,274) | 7,764) | ||||||
| Profitability Ratio | ||||||||||||||||||||||||
| Operating profit margin1 | 11.22% | 9.35% | 9.21% | 11.18% | 12.44% | 11.79% | 17.41% | 16.40% | 17.10% | 18.61% | 15.28% | 14.53% | 13.02% | 11.99% | 11.22% | 12.82% | 15.12% | 15.26% | ||||||
| Benchmarks | ||||||||||||||||||||||||
| Operating Profit Margin, Competitors2 | ||||||||||||||||||||||||
| Coca-Cola Co. | 29.63% | 29.34% | 28.71% | 30.69% | 27.96% | 24.55% | 21.23% | 20.61% | 22.20% | 21.89% | 24.72% | 24.68% | 24.76% | 24.99% | 25.37% | 24.81% | 24.96% | 27.39% | ||||||
| PepsiCo Inc. | 14.82% | 12.71% | 12.24% | 11.03% | 11.44% | 13.93% | 14.03% | 13.40% | 13.54% | 13.14% | 13.10% | 12.14% | 11.60% | 10.08% | 13.33% | 15.85% | 15.96% | 17.46% | ||||||
| Philip Morris International Inc. | 37.75% | 36.73% | 36.64% | 36.95% | 36.28% | 36.21% | 35.38% | 35.01% | 34.97% | 33.02% | 32.85% | 33.81% | 33.73% | 36.46% | 38.56% | 38.69% | 40.11% | 40.64% | ||||||
Based on: 10-Q (reporting date: 2026-06-30), 10-Q (reporting date: 2026-03-31), 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 Q2 2026 Calculation
Operating profit margin = 100
× (Operating incomeQ2 2026
+ Operating incomeQ1 2026
+ Operating incomeQ4 2025
+ Operating incomeQ3 2025)
÷ (Net revenuesQ2 2026
+ Net revenuesQ1 2026
+ Net revenuesQ4 2025
+ Net revenuesQ3 2025)
= 100 × (1,946 + 808 + 952 + 744)
÷ (9,355 + 10,080 + 10,496 + 9,744)
= 11.22%
2 Click competitor name to see calculations.
The operating profit margin exhibits significant volatility over the analyzed period, characterized by a cycle of contraction, expansion, and a subsequent sharp decline before a recent recovery. The margin fluctuated between a low of 9.21% and a peak of 18.61%, reflecting inconsistent operational efficiency relative to revenue growth.
- Initial Contraction and Recovery (2022–2023)
- A downward trend is observed throughout 2022, where the operating profit margin declined from 15.26% in March to 11.22% by December. This contraction reversed in 2023, as margins steadily improved each quarter, returning to 15.28% by the end of the year, signaling a recovery in operational profitability.
- Operational Peak (2024)
- The first quarter of 2024 marked the highest point of operational efficiency in the dataset, with the operating profit margin reaching 18.61%. While the margin experienced a slight moderation in the subsequent two quarters, it remained robust, staying above 16% for the duration of the year and closing at 17.41% in December.
- Margin Compression and Revenue Divergence (2025)
- A significant deterioration in profitability is evident during 2025. Despite net revenues reaching their highest historical levels—peaking at 10,496 million US dollars in December 2025—the operating profit margin fell consistently, reaching a period low of 9.21%. This divergence indicates that operating expenses grew at a rate that significantly outpaced revenue gains, leading to severe margin compression.
- Recent Trajectory (2026)
- The first half of 2026 shows a stabilization and subsequent upward movement. After starting the year at 9.35%, the operating profit margin rose to 11.22% by June 2026. This improvement is supported by a substantial increase in operating income, which rose to 1,946 million US dollars in the most recent quarter despite a decrease in total net revenues.
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Net Profit Margin
Mondelēz International Inc., net profit margin calculation (quarterly data)
| Jun 30, 2026 | Mar 31, 2026 | 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 earnings attributable to Mondelēz International | 1,548) | 560) | 665) | 743) | 641) | 402) | 1,745) | 853) | 601) | 1,412) | 950) | 984) | 944) | 2,081) | 583) | 532) | 747) | 855) | ||||||
| Net revenues | 9,355) | 10,080) | 10,496) | 9,744) | 8,984) | 9,313) | 9,604) | 9,204) | 8,343) | 9,290) | 9,314) | 9,029) | 8,507) | 9,166) | 8,695) | 7,763) | 7,274) | 7,764) | ||||||
| Profitability Ratio | ||||||||||||||||||||||||
| Net profit margin1 | 8.86% | 6.64% | 6.36% | 9.38% | 9.81% | 9.88% | 12.65% | 10.56% | 10.97% | 11.87% | 13.77% | 12.97% | 12.13% | 11.99% | 8.63% | 10.30% | 12.93% | 14.34% | ||||||
| Benchmarks | ||||||||||||||||||||||||
| Net Profit Margin, Competitors2 | ||||||||||||||||||||||||
| Coca-Cola Co. | 28.56% | 27.80% | 27.34% | 27.34% | 25.89% | 23.00% | 22.59% | 22.45% | 22.92% | 23.41% | 23.42% | 23.92% | 23.81% | 22.69% | 22.19% | 23.44% | 23.16% | 25.69% | ||||||
| PepsiCo Inc. | 10.78% | 9.15% | 8.77% | 7.82% | 8.23% | 10.24% | 10.43% | 10.18% | 10.34% | 10.00% | 9.92% | 9.05% | 8.76% | 7.48% | 10.31% | 11.61% | 11.28% | 12.57% | ||||||
| Philip Morris International Inc. | 25.56% | 26.74% | 27.92% | 21.57% | 21.08% | 19.80% | 18.63% | 26.42% | 24.15% | 22.16% | 22.21% | 23.38% | 24.26% | 27.20% | 28.49% | 27.57% | 28.56% | 28.58% | ||||||
Based on: 10-Q (reporting date: 2026-06-30), 10-Q (reporting date: 2026-03-31), 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 Q2 2026 Calculation
Net profit margin = 100
× (Net earnings attributable to Mondelēz InternationalQ2 2026
+ Net earnings attributable to Mondelēz InternationalQ1 2026
+ Net earnings attributable to Mondelēz InternationalQ4 2025
+ Net earnings attributable to Mondelēz InternationalQ3 2025)
÷ (Net revenuesQ2 2026
+ Net revenuesQ1 2026
+ Net revenuesQ4 2025
+ Net revenuesQ3 2025)
= 100 × (1,548 + 560 + 665 + 743)
÷ (9,355 + 10,080 + 10,496 + 9,744)
= 8.86%
2 Click competitor name to see calculations.
An analysis of the profitability metrics reveals significant volatility in the net profit margin over the reported period, characterized by a cyclical pattern of contraction, recovery, and a subsequent steep decline. While net revenues generally trended upward, the ability to convert these revenues into net earnings experienced substantial fluctuations.
- Initial Margin Contraction and Recovery (2022-2023)
- A downward trend is observed during 2022, with the net profit margin falling from 14.34% in March to a low of 8.63% by December. This contraction was followed by a steady recovery throughout 2023, where margins climbed back to a peak of 13.77% by the end of the year.
- Stability and Moderate Fluctuations (2024)
- During 2024, the net profit margin exhibited a period of relative stabilization, fluctuating between a high of 12.65% in December and a low of 10.56% in September. Despite these shifts, the margin remained consistently above the lows seen in late 2022.
- Significant Margin Compression (2025-2026)
- A pronounced decline in profitability is evident starting in early 2025. The net profit margin dropped consistently, reaching a period low of 6.36% by December 31, 2025. A marginal recovery to 8.86% was recorded by June 30, 2026, though this remains substantially below the profitability levels observed in the early stages of the analysis.
- Revenue and Profitability Divergence
- A notable divergence between revenue growth and profit margins is observed toward the end of the period. Net revenues reached their highest point of 10,496 million in December 2025, yet this coincided with the lowest net profit margin of 6.36%. This suggests that increased operational costs or non-operating expenses outweighed the gains from revenue expansion during this timeframe.
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Return on Equity (ROE)
Mondelēz International Inc., ROE calculation (quarterly data)
| Jun 30, 2026 | Mar 31, 2026 | 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 earnings attributable to Mondelēz International | 1,548) | 560) | 665) | 743) | 641) | 402) | 1,745) | 853) | 601) | 1,412) | 950) | 984) | 944) | 2,081) | 583) | 532) | 747) | 855) | ||||||
| Total Mondelēz International shareholders’ equity | 26,639) | 25,750) | 25,838) | 26,177) | 26,193) | 25,785) | 26,932) | 27,854) | 27,689) | 28,482) | 28,332) | 28,535) | 28,647) | 28,228) | 26,883) | 26,641) | 27,511) | 28,161) | ||||||
| Profitability Ratio | ||||||||||||||||||||||||
| ROE1 | 13.20% | 10.13% | 9.49% | 13.49% | 13.90% | 13.97% | 17.12% | 13.70% | 14.25% | 15.06% | 17.50% | 16.09% | 14.45% | 13.97% | 10.11% | 11.78% | 14.04% | 14.89% | ||||||
| Benchmarks | ||||||||||||||||||||||||
| ROE, Competitors2 | ||||||||||||||||||||||||
| Coca-Cola Co. | 39.60% | 40.74% | 40.74% | 41.70% | 42.62% | 41.16% | 42.77% | 39.25% | 41.19% | 40.80% | 41.30% | 40.92% | 40.40% | 39.13% | 39.59% | 43.52% | 41.60% | 41.49% | ||||||
| PepsiCo Inc. | 47.29% | 40.84% | 40.38% | 37.26% | 40.99% | 50.95% | 53.09% | 48.10% | 48.95% | 48.22% | 49.04% | 44.08% | 44.67% | 38.62% | 51.96% | 51.19% | 49.78% | 55.85% | ||||||
| Philip Morris International Inc. | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | ||||||
Based on: 10-Q (reporting date: 2026-06-30), 10-Q (reporting date: 2026-03-31), 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 Q2 2026 Calculation
ROE = 100
× (Net earnings attributable to Mondelēz InternationalQ2 2026
+ Net earnings attributable to Mondelēz InternationalQ1 2026
+ Net earnings attributable to Mondelēz InternationalQ4 2025
+ Net earnings attributable to Mondelēz InternationalQ3 2025)
÷ Total Mondelēz International shareholders’ equity
= 100 × (1,548 + 560 + 665 + 743)
÷ 26,639 = 13.20%
2 Click competitor name to see calculations.
Analysis of the profitability ratios reveals significant volatility in the Return on Equity (ROE), primarily driven by fluctuations in quarterly net earnings rather than substantial changes in the total shareholders' equity base.
- Return on Equity Trends
- ROE exhibited a descending trend throughout 2022, falling from 14.89% in March to a low of 10.11% by December. A strong recovery occurred throughout 2023, where the ratio climbed steadily to reach a peak of 17.50% by year-end. Following this peak, the ratio experienced instability through 2024 and a pronounced decline in 2025, reaching a period low of 9.49% in December 2025, before recovering to 13.20% by June 2026.
- Shareholders' Equity Stability
- The equity base remained relatively stable, fluctuating within a range of approximately US$ 25.7 billion to US$ 28.6 billion. A gradual contraction is observed from March 2022 through March 2026, where equity declined from US$ 28,161 million to US$ 25,750 million. This reduction in the capital base provides a slight mathematical lift to the ROE, though it was insufficient to offset the impact of declining earnings during the 2025 troughs.
- Net Earnings Volatility
- Net earnings demonstrate high quarterly variance, which serves as the primary catalyst for the fluctuations in ROE. Significant peaks are noted in March 2023 (US$ 2,081 million) and December 2024 (US$ 1,745 million). Conversely, earnings troughs, specifically the low of US$ 402 million in March 2025, correlate directly with the sharp contractions in the ROE percentage, indicating that profitability consistency is the main driver of shareholder return variance.
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Return on Assets (ROA)
Mondelēz International Inc., ROA calculation (quarterly data)
| Jun 30, 2026 | Mar 31, 2026 | 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 earnings attributable to Mondelēz International | 1,548) | 560) | 665) | 743) | 641) | 402) | 1,745) | 853) | 601) | 1,412) | 950) | 984) | 944) | 2,081) | 583) | 532) | 747) | 855) | ||||||
| Total assets | 71,247) | 71,122) | 71,487) | 71,358) | 71,020) | 68,927) | 68,497) | 72,191) | 73,096) | 77,624) | 71,391) | 70,860) | 72,025) | 72,786) | 71,161) | 68,036) | 66,014) | 67,994) | ||||||
| Profitability Ratio | ||||||||||||||||||||||||
| ROA1 | 4.93% | 3.67% | 3.43% | 4.95% | 5.13% | 5.22% | 6.73% | 5.29% | 5.40% | 5.53% | 6.95% | 6.48% | 5.75% | 5.42% | 3.82% | 4.61% | 5.85% | 6.17% | ||||||
| Benchmarks | ||||||||||||||||||||||||
| ROA, Competitors2 | ||||||||||||||||||||||||
| Coca-Cola Co. | 13.27% | 13.15% | 12.50% | 12.29% | 11.68% | 10.60% | 10.57% | 9.80% | 10.52% | 10.85% | 10.97% | 11.04% | 10.67% | 10.13% | 10.29% | 10.73% | 10.27% | 10.96% | ||||||
| PepsiCo Inc. | 9.32% | 7.89% | 7.67% | 6.78% | 7.17% | 9.21% | 9.63% | 9.31% | 9.56% | 9.18% | 9.03% | 8.29% | 8.24% | 7.07% | 9.67% | 10.28% | 9.92% | 10.93% | ||||||
| Philip Morris International Inc. | 15.93% | 16.10% | 16.40% | 12.87% | 12.02% | 11.68% | 11.42% | 14.70% | 13.38% | 12.20% | 11.96% | 12.74% | 13.01% | 14.04% | 14.67% | 21.48% | 22.18% | 21.62% | ||||||
Based on: 10-Q (reporting date: 2026-06-30), 10-Q (reporting date: 2026-03-31), 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 Q2 2026 Calculation
ROA = 100
× (Net earnings attributable to Mondelēz InternationalQ2 2026
+ Net earnings attributable to Mondelēz InternationalQ1 2026
+ Net earnings attributable to Mondelēz InternationalQ4 2025
+ Net earnings attributable to Mondelēz InternationalQ3 2025)
÷ Total assets
= 100 × (1,548 + 560 + 665 + 743)
÷ 71,247 = 4.93%
2 Click competitor name to see calculations.
The analysis of profitability metrics reveals a period of volatility in asset utilization and net earnings generation between March 2022 and June 2026.
- Return on Assets (ROA) Trends
- The ROA demonstrates a cyclical pattern characterized by periodic fluctuations. An initial decline was observed throughout 2022, falling from 6.17% to 3.82%. This was followed by a recovery phase in 2023, reaching a peak of 6.95% by December 31, 2023. While 2024 maintained moderate levels between 5.29% and 5.53% for the first three quarters, a sharp increase to 6.73% occurred in the final quarter. However, a sustained downward trend materialized throughout 2025, with the ratio reaching a low of 3.43% in December 2025 before recovering to 4.93% by June 2026.
- Net Earnings Volatility
- Net earnings show substantial quarterly variance. Significant peaks are evident in March 2023 (US$ 2,081 million) and December 2024 (US$ 1,745 million). These peaks correlate directly with higher ROA figures, indicating that profitability spikes are primarily driven by earnings growth rather than asset reductions.
- Asset Base Stability and Impact
- Total assets remained relatively stable, generally fluctuating between US$ 66 billion and US$ 77 billion. A notable peak in the asset base occurred in March 2024 (US$ 77,624 million), which coincided with a period of lower ROA, suggesting that the expansion of the asset base did not yield an immediate proportional increase in net income. The subsequent reduction of assets toward the end of 2024 contributed to the ROA peak of 6.73% observed in December of that year.
- Correlation Analysis
- A recurring pattern is observed where the lowest ROA figures typically align with quarters of diminished net earnings, such as September 2022 and December 2025. The recovery in the first half of 2026, with ROA rising to 4.93%, is driven by a significant increase in net earnings to US$ 1,548 million, despite a nearly stagnant asset base.
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