Common Stock Valuation Ratios (Price Multiples)
Valuation ratios measure the quantity of an asset or flaw (e.g., earnings) associated with ownership of a specified claim (e.g., a share of ownership of the enterprise).
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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
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Current Valuation Ratios
Mondelēz International Inc., current price multiples
| Mondelēz International Inc. | Coca-Cola Co. | PepsiCo Inc. | Philip Morris International Inc. | Food, Beverage & Tobacco | Consumer Staples | ||||
|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data | |||||||||
| Current share price (P) | |||||||||
| No. shares of common stock outstanding | |||||||||
| Growth rate (g) | |||||||||
| Earnings per share (EPS) | |||||||||
| Next year expected EPS | |||||||||
| Operating profit per share | |||||||||
| Sales per share | |||||||||
| Book value per share (BVPS) | |||||||||
| Valuation Ratios (Price Multiples) | |||||||||
| Price to earnings (P/E) | |||||||||
| Price to next year expected earnings | |||||||||
| Price-earnings-growth (PEG) | |||||||||
| Price to operating profit (P/OP) | |||||||||
| Price to sales (P/S) | |||||||||
| Price to book value (P/BV) | |||||||||
Based on: 10-K (reporting date: 2025-12-31).
If the company price multiple is lower then the price multiple of benchmark then company stock is relatively undervalued.
Otherwise, if the company price multiple is higher then the price multiple of benchmark then company stock is relatively overvalued.
Historical Valuation Ratios (Summary)
Mondelēz International Inc., historical price multiples
| Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | ||
|---|---|---|---|---|---|---|
| Price to earnings (P/E) | ||||||
| Price to operating profit (P/OP) | ||||||
| Price to sales (P/S) | ||||||
| Price to book value (P/BV) |
Based on: 10-K (reporting date: 2025-12-31), 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31).
The valuation ratios exhibit varied trends over the five-year period. Generally, the ratios demonstrate fluctuation rather than consistent directional movement, suggesting a dynamic market perception of the company’s value.
- Price to Earnings (P/E)
- The Price to Earnings ratio increased significantly from 21.64 in 2021 to 33.07 in 2022, then decreased to 20.87 in 2023 and further to 16.11 in 2024. A subsequent increase to 31.07 is observed in 2025. This volatility suggests changing investor expectations regarding future earnings growth.
- Price to Operating Profit (P/OP)
- The Price to Operating Profit ratio followed a similar pattern to the P/E ratio, rising from 20.00 in 2021 to 25.43 in 2022, declining to 18.81 in 2023 and 11.71 in 2024, before increasing again to 21.46 in 2025. This movement indicates a correlation with the company’s operating profitability as perceived by the market.
- Price to Sales (P/S)
- The Price to Sales ratio decreased steadily from 3.24 in 2021 to 2.85 in 2022 and 2.87 in 2023, then experienced a more pronounced decline to 2.04 in 2024 and 1.98 in 2025. This consistent downward trend suggests that the market is valuing each dollar of revenue at a decreasing rate.
- Price to Book Value (P/BV)
- The Price to Book Value ratio increased from 3.29 in 2021 to 3.65 in 2023, then decreased to 2.76 in 2024, and rose slightly to 2.95 in 2025. This indicates fluctuations in the market’s assessment of the company’s net asset value relative to its market capitalization.
Overall, the observed fluctuations across all ratios suggest a period of evolving market sentiment. The declines in Price to Sales and the volatility in Price to Earnings and Price to Operating Profit warrant further investigation into the underlying drivers of these changes.
Price to Earnings (P/E)
Mondelēz International Inc., historical P/E calculation, comparison to benchmarks
| Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | ||
|---|---|---|---|---|---|---|
| No. shares of common stock outstanding1 | ||||||
| Selected Financial Data (US$) | ||||||
| Net earnings attributable to Mondelēz International (in millions) | ||||||
| Earnings per share (EPS)2 | ||||||
| Share price1, 3 | ||||||
| Valuation Ratio | ||||||
| P/E ratio4 | ||||||
| Benchmarks | ||||||
| P/E Ratio, Competitors5 | ||||||
| Coca-Cola Co. | ||||||
| PepsiCo Inc. | ||||||
| Philip Morris International Inc. | ||||||
| P/E Ratio, Sector | ||||||
| Food, Beverage & Tobacco | ||||||
| P/E Ratio, Industry | ||||||
| Consumer Staples | ||||||
Based on: 10-K (reporting date: 2025-12-31), 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31).
1 Data adjusted for splits and stock dividends.
2 2025 Calculation
EPS = Net earnings attributable to Mondelēz International ÷ No. shares of common stock outstanding
= ÷ =
3 Closing price as at the filing date of Mondelēz International Inc. Annual Report.
4 2025 Calculation
P/E ratio = Share price ÷ EPS
= ÷ =
5 Click competitor name to see calculations.
The price to earnings (P/E) ratio for the period demonstrates considerable fluctuation. Initial values indicate a relatively stable, though decreasing, share price alongside varying earnings per share, resulting in a dynamic P/E ratio.
- Share Price
- The share price experienced a slight decrease from $67.02 in 2021 to $65.91 in 2022. A subsequent increase to $76.87 was observed in 2023, followed by a substantial decline to $57.43 in 2024, and a modest recovery to $59.40 in 2025.
- Earnings Per Share (EPS)
- Earnings per share decreased significantly from $3.10 in 2021 to $1.99 in 2022. EPS then rose to $3.68 in 2023, remained relatively stable at $3.56 in 2024, before decreasing considerably to $1.91 in 2025.
- Price to Earnings (P/E) Ratio
- The P/E ratio began at 21.64 in 2021, then increased substantially to 33.07 in 2022. It decreased to 20.87 in 2023, and further to 16.11 in 2024. A significant increase to 31.07 was then observed in 2025. The P/E ratio’s movements appear to be heavily influenced by fluctuations in both share price and earnings per share, with the 2025 value being particularly sensitive to the decline in EPS.
The interplay between share price and earnings per share suggests a volatile valuation environment. The increase in the P/E ratio in 2022 was primarily driven by a decrease in earnings, while the decrease in 2024 was influenced by a substantial drop in share price. The 2025 increase in P/E, despite lower earnings, indicates a potential shift in investor sentiment or market conditions.
Price to Operating Profit (P/OP)
Mondelēz International Inc., historical P/OP calculation, comparison to benchmarks
| Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | ||
|---|---|---|---|---|---|---|
| No. shares of common stock outstanding1 | ||||||
| Selected Financial Data (US$) | ||||||
| Operating income (in millions) | ||||||
| Operating profit per share2 | ||||||
| Share price1, 3 | ||||||
| Valuation Ratio | ||||||
| P/OP ratio4 | ||||||
| Benchmarks | ||||||
| P/OP Ratio, Competitors5 | ||||||
| Coca-Cola Co. | ||||||
| PepsiCo Inc. | ||||||
| Philip Morris International Inc. | ||||||
| P/OP Ratio, Sector | ||||||
| Food, Beverage & Tobacco | ||||||
| P/OP Ratio, Industry | ||||||
| Consumer Staples | ||||||
Based on: 10-K (reporting date: 2025-12-31), 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31).
1 Data adjusted for splits and stock dividends.
2 2025 Calculation
Operating profit per share = Operating income ÷ No. shares of common stock outstanding
= ÷ =
3 Closing price as at the filing date of Mondelēz International Inc. Annual Report.
4 2025 Calculation
P/OP ratio = Share price ÷ Operating profit per share
= ÷ =
5 Click competitor name to see calculations.
The price to operating profit (P/OP) ratio for the period examined demonstrates considerable fluctuation. Initially, the ratio exhibited an increase followed by a decline and subsequent volatility. A review of the individual components, share price and operating profit per share, provides context for these movements.
- Share Price
- The share price experienced a slight decrease from 2021 to 2022, followed by a substantial increase in 2023. A significant decline occurred in 2024, with a modest recovery in 2025. This pattern suggests sensitivity to market conditions or company-specific events.
- Operating Profit Per Share
- Operating profit per share decreased from 2021 to 2022, then increased notably in 2023. It continued to rise in 2024 before decreasing again in 2025. This indicates variability in the company’s operational performance over the observed period.
- P/OP Ratio – Overall Trend
- The P/OP ratio increased from 20.00 in 2021 to 25.43 in 2022, coinciding with a decrease in operating profit per share and a slight decrease in share price. A subsequent decrease to 18.81 in 2023 occurred alongside increases in both share price and operating profit per share. The most dramatic change was the decline to 11.71 in 2024, driven by a substantial drop in share price despite an increase in operating profit per share. The ratio then increased to 21.46 in 2025, reflecting a modest share price recovery and a decrease in operating profit per share.
- P/OP Ratio – Key Observations
- The ratio’s volatility suggests that investor sentiment and expectations regarding future operating performance are shifting. The decrease in 2024, despite higher operating profit per share, indicates that the market may have reacted negatively to other factors impacting the company’s valuation. The 2025 increase, while present, does not fully restore the ratio to prior levels, suggesting continued uncertainty.
In conclusion, the P/OP ratio demonstrates a complex pattern influenced by both share price fluctuations and changes in operating profit per share. The observed trends warrant further investigation into the underlying drivers of these changes to gain a more comprehensive understanding of the company’s valuation.
Price to Sales (P/S)
Mondelēz International Inc., historical P/S calculation, comparison to benchmarks
| Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | ||
|---|---|---|---|---|---|---|
| No. shares of common stock outstanding1 | ||||||
| Selected Financial Data (US$) | ||||||
| Net revenues (in millions) | ||||||
| Sales per share2 | ||||||
| Share price1, 3 | ||||||
| Valuation Ratio | ||||||
| P/S ratio4 | ||||||
| Benchmarks | ||||||
| P/S Ratio, Competitors5 | ||||||
| Coca-Cola Co. | ||||||
| PepsiCo Inc. | ||||||
| Philip Morris International Inc. | ||||||
| P/S Ratio, Sector | ||||||
| Food, Beverage & Tobacco | ||||||
| P/S Ratio, Industry | ||||||
| Consumer Staples | ||||||
Based on: 10-K (reporting date: 2025-12-31), 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31).
1 Data adjusted for splits and stock dividends.
2 2025 Calculation
Sales per share = Net revenues ÷ No. shares of common stock outstanding
= ÷ =
3 Closing price as at the filing date of Mondelēz International Inc. Annual Report.
4 2025 Calculation
P/S ratio = Share price ÷ Sales per share
= ÷ =
5 Click competitor name to see calculations.
The price-to-sales ratio exhibited a generally decreasing trend over the five-year period. Initial values indicated a relatively high valuation based on sales, which subsequently declined. Fluctuations were observed, but the overall trajectory suggests a diminishing premium investors were willing to pay for each dollar of sales generated by the company.
- Price-to-Sales Ratio (P/S)
- The P/S ratio began at 3.24 in 2021, then decreased to 2.85 in 2022. A slight increase to 2.87 was noted in 2023, followed by a more substantial decline to 2.04 in 2024. This downward movement continued into 2025, with the ratio reaching 1.98. This represents a significant reduction from the initial value in 2021.
The share price demonstrated volatility during the observed period. It decreased from US$67.02 in 2021 to US$65.91 in 2022, then increased substantially to US$76.87 in 2023. However, a significant drop occurred in 2024, with the share price falling to US$57.43, and a modest recovery to US$59.40 was seen in 2025.
- Sales per Share
- Sales per share consistently increased throughout the period, rising from US$20.69 in 2021 to US$30.06 in 2025. This indicates a steady growth in revenue generated per outstanding share, despite the fluctuations in share price and the overall decline in the P/S ratio.
The combined trends suggest that while the company increased sales per share, investor valuation, as measured by the P/S ratio, decreased. This could indicate changing market perceptions regarding the company’s growth prospects, profitability, or competitive positioning, or broader macroeconomic factors influencing valuation multiples.
Price to Book Value (P/BV)
Mondelēz International Inc., historical P/BV calculation, comparison to benchmarks
| Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | ||
|---|---|---|---|---|---|---|
| No. shares of common stock outstanding1 | ||||||
| Selected Financial Data (US$) | ||||||
| Total Mondelēz International shareholders’ equity (in millions) | ||||||
| Book value per share (BVPS)2 | ||||||
| Share price1, 3 | ||||||
| Valuation Ratio | ||||||
| P/BV ratio4 | ||||||
| Benchmarks | ||||||
| P/BV Ratio, Competitors5 | ||||||
| Coca-Cola Co. | ||||||
| PepsiCo Inc. | ||||||
| Philip Morris International Inc. | ||||||
| P/BV Ratio, Sector | ||||||
| Food, Beverage & Tobacco | ||||||
| P/BV Ratio, Industry | ||||||
| Consumer Staples | ||||||
Based on: 10-K (reporting date: 2025-12-31), 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31).
1 Data adjusted for splits and stock dividends.
2 2025 Calculation
BVPS = Total Mondelēz International shareholders’ equity ÷ No. shares of common stock outstanding
= ÷ =
3 Closing price as at the filing date of Mondelēz International Inc. Annual Report.
4 2025 Calculation
P/BV ratio = Share price ÷ BVPS
= ÷ =
5 Click competitor name to see calculations.
The price-to-book value (P/BV) ratio for the period demonstrates fluctuations, initially increasing before declining and stabilizing. The share price and book value per share exhibit their own trends that contribute to the observed P/BV movements.
- Share Price
- The share price began at 67.02 US$ in 2021, decreased to 65.91 US$ in 2022, and then increased substantially to 76.87 US$ in 2023. A significant decline occurred in 2024, falling to 57.43 US$, followed by a modest increase to 59.40 US$ in 2025.
- Book Value Per Share
- Book value per share showed a slight decrease from 20.36 US$ in 2021 to 19.72 US$ in 2022. It then increased to 21.04 US$ in 2023, followed by a decrease to 20.82 US$ in 2024, and a further decrease to 20.16 US$ in 2025. The changes in book value per share are relatively moderate compared to the share price fluctuations.
- Price-to-Book Value Ratio
- The P/BV ratio increased from 3.29 in 2021 to 3.34 in 2022, indicating a slight increase in the market’s valuation of the company’s net assets relative to its share price. The ratio peaked at 3.65 in 2023, coinciding with the increase in share price. A substantial decrease was observed in 2024, with the P/BV ratio falling to 2.76, driven by the significant decline in share price. The ratio stabilized somewhat in 2025, increasing to 2.95, suggesting a partial recovery in market valuation relative to book value.
The largest single-year change in the P/BV ratio occurred between 2023 and 2024, decreasing by 0.89. This decrease is directly attributable to the substantial drop in share price during that period. The relatively stable book value per share suggests that the change in P/BV is primarily driven by market sentiment and share price performance.