Stock Analysis on Net

Mondelēz International Inc. (NASDAQ:MDLZ)

Price to FCFE (P/FCFE)

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Free Cash Flow to Equity (FCFE)

Mondelēz International Inc., FCFE calculation

US$ in millions

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12 months ended: Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Net earnings attributable to Mondelēz International 4,959 2,717 4,300 3,555 3,870
Noncontrolling interest earnings 9 9 14 14 15
Net noncash charges 47 1,477 163 339 360
Change in assets and liabilities, net of acquisitions and divestitures (301) (295) (336) 56 (280)
Net cash provided by operating activities 4,714 3,908 4,141 3,964 3,965
Capital expenditures (1,112) (906) (965) (863) (925)
Issuances of commercial paper, maturities greater than 90 days 67 677 1,306
Repayments of commercial paper, maturities greater than 90 days (67) (1,174) (2,367)
Net issuances (repayments) of short-term borrowings (1,869) 1,914 194 (2,116) 524
Long-term debt proceeds 277 4,490 5,921 7,213 3,136
Long-term debt repayments (2,432) (3,032) (6,247) (3,878) (2,677)
Free cash flow to equity (FCFE) (422) 6,374 3,044 3,823 2,962

Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).

Item Description The company
FCFE Free cash flow to equity is the cash flow available to Mondelēz International Inc. equity holders after all operating expenses, interest, and principal payments have been paid and necessary investments in working and fixed capital have been made. Mondelēz International Inc. FCFE increased from 2021 to 2022 but then decreased significantly from 2022 to 2023.

Price to FCFE Ratio, Current

Mondelēz International Inc., current P/FCFE calculation, comparison to benchmarks

Microsoft Excel
No. shares of common stock outstanding 1,346,477,411
Selected Financial Data (US$)
Free cash flow to equity (FCFE) (in millions) (422)
FCFE per share -0.31
Current share price (P) 70.00
Valuation Ratio
P/FCFE
Benchmarks
P/FCFE, Competitors1
Coca-Cola Co. 22.59
PepsiCo Inc. 18.66
P/FCFE, Sector
Food, Beverage & Tobacco 24.79
P/FCFE, Industry
Consumer Staples 29.87

Based on: 10-K (reporting date: 2023-12-31).

1 Click competitor name to see calculations.

If the company P/FCFE is lower then the P/FCFE of benchmark then company is relatively undervalued.
Otherwise, if the company P/FCFE is higher then the P/FCFE of benchmark then company is relatively overvalued.


Price to FCFE Ratio, Historical

Mondelēz International Inc., historical P/FCFE calculation, comparison to benchmarks

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
No. shares of common stock outstanding1 1,346,477,411 1,363,306,849 1,388,328,044 1,412,114,559 1,432,943,006
Selected Financial Data (US$)
Free cash flow to equity (FCFE) (in millions)2 (422) 6,374 3,044 3,823 2,962
FCFE per share3 -0.31 4.68 2.19 2.71 2.07
Share price1, 4 76.87 65.91 67.02 56.21 58.66
Valuation Ratio
P/FCFE5 14.10 30.57 20.76 28.38
Benchmarks
P/FCFE, Competitors6
Coca-Cola Co. 22.42 29.91 23.29 30.91 33.31
PepsiCo Inc. 17.88 47.17 77.00 10.51 38.90
P/FCFE, Sector
Food, Beverage & Tobacco 24.67 29.23 33.74 16.88 34.24
P/FCFE, Industry
Consumer Staples 26.54 34.77 25.41 18.67 20.36

Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).

1 Data adjusted for splits and stock dividends.

2 See details »

3 2023 Calculation
FCFE per share = FCFE ÷ No. shares of common stock outstanding
= -422,000,000 ÷ 1,346,477,411 = -0.31

4 Closing price as at the filing date of Mondelēz International Inc. Annual Report.

5 2023 Calculation
P/FCFE = Share price ÷ FCFE per share
= 76.87 ÷ -0.31 =

6 Click competitor name to see calculations.