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).
Historical Valuation Ratios (Summary)
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).
- Price to Earnings (P/E) Ratio
- The P/E ratio shows data starting from December 31, 2020. Initially, it experienced a slight decrease from 22.33 to 19.22 by the end of 2020. In 2021, the ratio fluctuated moderately, peaking at 26.93 in December. Throughout 2022, there was an upward trend reaching 33.07 in March before decreasing towards the end of the year and into 2023. During 2023, the P/E ratio declined to a low of 19.8 in December, then rose again in early 2024, fluctuating around the 22 to 24 range before falling sharply to 16.11 in March 2025 and recovering slightly thereafter. This volatility suggests varying investor sentiment or earnings changes over time.
- Price to Operating Profit (P/OP) Ratio
- The P/OP ratio follows a somewhat similar pattern to the P/E ratio, with data also beginning in December 2020. It started at 20.6, showing minor fluctuations within the 18.62 to 20.54 range through 2021. A significant increase occurred in the first quarter of 2022, reaching 25.43, followed by another peak at 25.48 in mid-2022. However, from late 2022 through 2023, the ratio decreased steadily to 17.68 by the end of that year. Early 2024 saw further decline reaching 11.71 in March 2025, followed by an uptick toward 19.78 and 19.54 by mid-2025. This pattern reflects periods of changing profitability or market valuation of operating income.
- Price to Sales (P/S) Ratio
- The P/S ratio data shows that after initial measurements in late 2020 around 2.99, the ratio rose slightly above 3.2 in 2021, indicating increased market valuation relative to sales. Entering 2022, the ratio gradually declined from 3.24 to 2.77 by the end of the year. During 2023 and early 2024, the ratio remained volatile but generally remained below 3.0, dipping to a low of 2.04 in March 2025 before experiencing a modest rebound. The decreasing trend in P/S over time suggests a moderation in market valuation relative to revenue or possibly sales growth outpacing price increases.
- Price to Book Value (P/BV) Ratio
- The P/BV ratio is available for all periods beginning in March 2020. Starting at 2.84, it increased gradually through 2020 and 2021, reaching highs of around 3.65 in late 2023. Thereafter, it experienced fluctuations mostly in the range of 3.2 to 3.5, with a notable drop to 2.76 in March 2025. Overall, the P/BV ratio demonstrated stability with gradual growth, indicating a consistent or improving valuation relative to book value with occasional adjustments likely tied to changes in equity or market conditions.
Price to Earnings (P/E)
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 | ||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
No. shares of common stock outstanding1 | 1,293,945,412 | 1,294,815,373 | 1,293,525,167 | 1,337,194,254 | 1,335,797,706 | 1,341,359,018 | 1,346,477,411 | 1,360,895,585 | 1,360,417,919 | 1,361,853,497 | 1,363,306,849 | 1,365,618,508 | 1,370,566,113 | 1,383,923,632 | 1,388,328,044 | 1,394,972,132 | 1,397,817,443 | 1,404,711,224 | 1,412,114,559 | 1,430,162,763 | 1,428,338,344 | 1,427,464,062 | |||||||
Selected Financial Data (US$) | |||||||||||||||||||||||||||||
Net earnings attributable to Mondelēz International (in millions) | 641) | 402) | 1,745) | 853) | 601) | 1,412) | 950) | 984) | 944) | 2,081) | 583) | 532) | 747) | 855) | 1,003) | 1,258) | 1,078) | 961) | 1,156) | 1,119) | 544) | 736) | |||||||
Earnings per share (EPS)2 | 2.81 | 2.78 | 3.56 | 2.85 | 2.95 | 3.20 | 3.68 | 3.37 | 3.04 | 2.90 | 1.99 | 2.30 | 2.82 | 3.03 | 3.10 | 3.19 | 3.09 | 2.69 | 2.52 | 0.00 | 0.00 | 0.00 | |||||||
Share price1, 3 | 69.71 | 65.65 | 57.43 | 69.15 | 67.05 | 71.94 | 76.87 | 66.82 | 72.36 | 73.82 | 65.91 | 61.87 | 62.94 | 64.04 | 67.02 | 61.36 | 65.23 | 60.88 | 56.21 | 54.42 | 56.79 | 51.05 | |||||||
Valuation Ratio | |||||||||||||||||||||||||||||
P/E ratio4 | 24.77 | 23.61 | 16.11 | 24.23 | 22.69 | 22.49 | 20.87 | 19.80 | 23.78 | 25.50 | 33.07 | 26.93 | 22.33 | 21.13 | 21.64 | 19.22 | 21.14 | 22.62 | 22.33 | — | — | — | |||||||
Benchmarks | |||||||||||||||||||||||||||||
P/E Ratio, Competitors5 | |||||||||||||||||||||||||||||
Coca-Cola Co. | 24.41 | 28.45 | 28.34 | 27.85 | 27.05 | 24.76 | 24.43 | 22.33 | 25.69 | 27.85 | 27.12 | 25.88 | 28.47 | 27.84 | 27.63 | 27.47 | 30.49 | 32.01 | 27.91 | — | — | — | |||||||
PepsiCo Inc. | 26.37 | 19.80 | 20.55 | 24.99 | 23.66 | 25.63 | 25.40 | 27.27 | 32.68 | 39.71 | 26.71 | 24.02 | 25.33 | 23.57 | 30.58 | 25.66 | 25.76 | 26.23 | 26.15 | — | — | — | |||||||
Philip Morris International Inc. | 30.43 | 34.84 | 32.02 | 21.00 | 19.99 | 18.54 | 17.69 | 17.38 | 19.02 | 17.50 | 17.54 | 15.87 | 16.58 | 17.60 | 18.37 | 16.43 | 17.54 | 17.03 | 16.55 | — | — | — |
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 Data adjusted for splits and stock dividends.
2 Q2 2025 Calculation
EPS
= (Net earnings attributable to Mondelēz InternationalQ2 2025
+ Net earnings attributable to Mondelēz InternationalQ1 2025
+ Net earnings attributable to Mondelēz InternationalQ4 2024
+ Net earnings attributable to Mondelēz InternationalQ3 2024)
÷ No. shares of common stock outstanding
= (641,000,000 + 402,000,000 + 1,745,000,000 + 853,000,000)
÷ 1,293,945,412 = 2.81
3 Closing price as at the filing date of Mondelēz International Inc. Quarterly or Annual Report.
4 Q2 2025 Calculation
P/E ratio = Share price ÷ EPS
= 69.71 ÷ 2.81 = 24.77
5 Click competitor name to see calculations.
- Share Price Trend
- The share price of the company exhibited considerable fluctuations over the analyzed periods. Initially, from early 2020 through the end of 2021, the price demonstrated an overall upward trajectory, increasing from $51.05 in March 2020 to a peak around $76.87 by December 2023. However, starting in 2024, the share price experienced notable volatility, with values oscillating between approximately $57.43 and $71.94. By mid-2025, there was a partial recovery, reaching $69.71. This pattern suggests periods of both investor confidence and market uncertainty impacting the stock value.
- Earnings per Share (EPS) Evolution
- EPS data begins from the first quarter of 2021, showing an ascent from $2.52 in March 2021 to a high of $3.68 in December 2023. Following that peak, EPS declined to lower values, such as $2.95 in March 2024 and $2.78 by June 2025. Despite intermittent increases, the EPS trend displays a level of inconsistency, with significant drops especially notable after the late 2023 peak, potentially indicating fluctuating profitability or operational challenges.
- Price-to-Earnings (P/E) Ratio Analysis
- The P/E ratio, available concurrently with EPS data, reveals a general upward movement from 22.33 in March 2021 to a peak of 33.07 by March 2023, indicating market optimism with respect to earnings growth. Following this peak, the ratio declined, reflecting reduced market valuation relative to earnings, before again showing moderate increases toward mid-2025. The lowest P/E recorded was 16.11 in March 2025, signaling a relatively more attractive valuation or decreased investor expectations during that period.
- Interrelation Between Metrics
- The share price trends generally align with EPS and P/E ratio movements, where increases in EPS correlate with share price gains, particularly through 2023. However, the divergence in late 2024 and 2025, where share prices show volatility alongside falling EPS and fluctuating P/E ratios, could suggest market sensitivity to external factors beyond fundamental earnings, including possibly macroeconomic conditions or company-specific events.
- Summary
- Overall, the financial indicators demonstrate periods of growth and optimism up to late 2023, followed by heightened volatility and mixed signals regarding earnings quality and market valuation in subsequent quarters. The variability in EPS and P/E ratios alongside fluctuating share prices suggests an environment of both opportunity and risk, warranting close monitoring for potential underlying causes influencing financial performance and market perception.
Price to Operating Profit (P/OP)
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 | ||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
No. shares of common stock outstanding1 | 1,293,945,412 | 1,294,815,373 | 1,293,525,167 | 1,337,194,254 | 1,335,797,706 | 1,341,359,018 | 1,346,477,411 | 1,360,895,585 | 1,360,417,919 | 1,361,853,497 | 1,363,306,849 | 1,365,618,508 | 1,370,566,113 | 1,383,923,632 | 1,388,328,044 | 1,394,972,132 | 1,397,817,443 | 1,404,711,224 | 1,412,114,559 | 1,430,162,763 | 1,428,338,344 | 1,427,464,062 | |||||||
Selected Financial Data (US$) | |||||||||||||||||||||||||||||
Operating income (in millions) | 1,172) | 680) | 1,611) | 1,153) | 854) | 2,727) | 1,193) | 1,379) | 1,425) | 1,505) | 834) | 679) | 927) | 1,094) | 1,204) | 1,294) | 872) | 1,283) | 1,149) | 1,135) | 713) | 856) | |||||||
Operating profit per share2 | 3.57 | 3.32 | 4.91 | 4.43 | 4.61 | 5.01 | 4.09 | 3.78 | 3.27 | 2.90 | 2.59 | 2.86 | 3.30 | 3.23 | 3.35 | 3.30 | 3.18 | 3.05 | 2.73 | 0.00 | 0.00 | 0.00 | |||||||
Share price1, 3 | 69.71 | 65.65 | 57.43 | 69.15 | 67.05 | 71.94 | 76.87 | 66.82 | 72.36 | 73.82 | 65.91 | 61.87 | 62.94 | 64.04 | 67.02 | 61.36 | 65.23 | 60.88 | 56.21 | 54.42 | 56.79 | 51.05 | |||||||
Valuation Ratio | |||||||||||||||||||||||||||||
P/OP ratio4 | 19.54 | 19.78 | 11.71 | 15.60 | 14.56 | 14.35 | 18.81 | 17.68 | 22.16 | 25.48 | 25.43 | 21.64 | 19.09 | 19.85 | 20.00 | 18.62 | 20.54 | 19.98 | 20.60 | — | — | — | |||||||
Benchmarks | |||||||||||||||||||||||||||||
P/OP Ratio, Competitors5 | |||||||||||||||||||||||||||||
Coca-Cola Co. | 22.60 | 26.66 | 30.15 | 30.34 | 27.92 | 26.48 | 23.14 | 21.65 | 24.70 | 25.28 | 23.72 | 24.45 | 26.41 | 26.11 | 26.19 | 22.06 | 23.74 | 24.74 | 24.03 | — | — | — | |||||||
PepsiCo Inc. | 18.97 | 14.55 | 15.27 | 18.98 | 18.07 | 19.50 | 19.23 | 20.33 | 24.69 | 29.45 | 20.67 | 17.60 | 17.90 | 16.97 | 20.87 | 18.28 | 18.75 | 18.78 | 18.47 | — | — | — | |||||||
Philip Morris International Inc. | 17.68 | 19.04 | 16.86 | 15.84 | 13.81 | 12.44 | 11.96 | 12.02 | 13.68 | 13.05 | 12.96 | 11.31 | 11.81 | 12.37 | 12.90 | 11.42 | 12.23 | 11.95 | 11.43 | — | — | — |
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 Data adjusted for splits and stock dividends.
2 Q2 2025 Calculation
Operating profit per share
= (Operating incomeQ2 2025
+ Operating incomeQ1 2025
+ Operating incomeQ4 2024
+ Operating incomeQ3 2024)
÷ No. shares of common stock outstanding
= (1,172,000,000 + 680,000,000 + 1,611,000,000 + 1,153,000,000)
÷ 1,293,945,412 = 3.57
3 Closing price as at the filing date of Mondelēz International Inc. Quarterly or Annual Report.
4 Q2 2025 Calculation
P/OP ratio = Share price ÷ Operating profit per share
= 69.71 ÷ 3.57 = 19.54
5 Click competitor name to see calculations.
The analyzed financial data reveals several key trends over the observed periods. The share price shows variability with a general upward movement from the beginning of the series through early 2023, with notable peaks and troughs. After reaching a high point of approximately $76.87 in December 2023, the share price experiences a decline, falling to around $57.43 by December 2024, before recovering somewhat towards the middle of 2025.
The operating profit per share (OPPS), available from the first quarter of 2020 onward, demonstrates a consistent overall increase. Starting at $2.73 in March 2020, the OPPS rises steadily with minor fluctuations, peaking notably at $5.01 in December 2023. This upward trend signals improving operational profitability on a per-share basis over the timeframe, although there is a noticeable dip following this peak, a pattern that continues into 2025.
The price to operating profit ratio (P/OP) illustrates the relationship between share price and operating profit per share, offering insights into valuation trends. Initially, this ratio remains around the low 20s, reflecting market valuation levels relative to underlying operating profit. Thereafter, from late 2021 through early 2023, the ratio increases, reaching a maximum of approximately 25.48, indicating that the share price was relatively higher compared to operating profit at that time. Subsequently, the ratio declines significantly toward the latter part of 2024, dropping to around 11.71, which suggests an improved valuation from an earnings perspective or a decrease in share price relative to profits. However, the ratio increases again slightly by mid-2025.
In combination, these trends suggest that while the company's operational profitability per share improved consistently over the period, share price movements were more volatile and at times detached from underlying earnings growth, particularly around late 2023. The fluctuation in the price to operating profit ratio confirms changing investor perceptions or market conditions influencing valuation multiples. The decline in both share price and operating profit per share in late 2024 indicates a period of weaker performance or market sentiment, followed by a partial recovery in 2025.
- Share Price
- Initial upward trend with peaks in late 2023, followed by a decline through late 2024 and partial recovery by mid-2025.
- Operating Profit Per Share
- Consistent growth with minor fluctuations, peaking in December 2023, then decreasing slightly thereafter.
- Price to Operating Profit Ratio
- Generally stable near 20, rising to mid-20s in early 2023, then declining sharply in late 2024 before a moderate increase.
Price to Sales (P/S)
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 | ||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
No. shares of common stock outstanding1 | 1,293,945,412 | 1,294,815,373 | 1,293,525,167 | 1,337,194,254 | 1,335,797,706 | 1,341,359,018 | 1,346,477,411 | 1,360,895,585 | 1,360,417,919 | 1,361,853,497 | 1,363,306,849 | 1,365,618,508 | 1,370,566,113 | 1,383,923,632 | 1,388,328,044 | 1,394,972,132 | 1,397,817,443 | 1,404,711,224 | 1,412,114,559 | 1,430,162,763 | 1,428,338,344 | 1,427,464,062 | |||||||
Selected Financial Data (US$) | |||||||||||||||||||||||||||||
Net revenues (in millions) | 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) | 7,658) | 7,182) | 6,642) | 7,238) | 7,298) | 6,665) | 5,911) | 6,707) | |||||||
Sales per share2 | 28.68 | 28.16 | 28.17 | 27.03 | 26.93 | 26.94 | 26.75 | 26.01 | 25.09 | 24.16 | 23.10 | 22.30 | 21.80 | 21.13 | 20.69 | 20.33 | 19.92 | 19.30 | 18.82 | 0.00 | 0.00 | 0.00 | |||||||
Share price1, 3 | 69.71 | 65.65 | 57.43 | 69.15 | 67.05 | 71.94 | 76.87 | 66.82 | 72.36 | 73.82 | 65.91 | 61.87 | 62.94 | 64.04 | 67.02 | 61.36 | 65.23 | 60.88 | 56.21 | 54.42 | 56.79 | 51.05 | |||||||
Valuation Ratio | |||||||||||||||||||||||||||||
P/S ratio4 | 2.43 | 2.33 | 2.04 | 2.56 | 2.49 | 2.67 | 2.87 | 2.57 | 2.88 | 3.06 | 2.85 | 2.77 | 2.89 | 3.03 | 3.24 | 3.02 | 3.27 | 3.15 | 2.99 | — | — | — | |||||||
Benchmarks | |||||||||||||||||||||||||||||
P/S Ratio, Competitors5 | |||||||||||||||||||||||||||||
Coca-Cola Co. | 6.32 | 6.54 | 6.40 | 6.25 | 6.20 | 5.80 | 5.72 | 5.34 | 6.12 | 6.32 | 6.02 | 6.07 | 6.59 | 7.15 | 6.99 | 6.40 | 6.76 | 6.91 | 6.55 | — | — | — | |||||||
PepsiCo Inc. | 2.17 | 2.03 | 2.14 | 2.54 | 2.45 | 2.56 | 2.52 | 2.47 | 2.86 | 2.97 | 2.75 | 2.79 | 2.86 | 2.96 | 2.93 | 2.72 | 2.83 | 2.76 | 2.65 | — | — | — | |||||||
Philip Morris International Inc. | 6.41 | 6.90 | 5.97 | 5.55 | 4.83 | 4.11 | 3.93 | 4.06 | 4.61 | 4.76 | 5.00 | 4.38 | 4.74 | 5.03 | 5.33 | 4.80 | 5.17 | 5.06 | 4.65 | — | — | — |
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 Data adjusted for splits and stock dividends.
2 Q2 2025 Calculation
Sales per share
= (Net revenuesQ2 2025
+ Net revenuesQ1 2025
+ Net revenuesQ4 2024
+ Net revenuesQ3 2024)
÷ No. shares of common stock outstanding
= (8,984,000,000 + 9,313,000,000 + 9,604,000,000 + 9,204,000,000)
÷ 1,293,945,412 = 28.68
3 Closing price as at the filing date of Mondelēz International Inc. Quarterly or Annual Report.
4 Q2 2025 Calculation
P/S ratio = Share price ÷ Sales per share
= 69.71 ÷ 28.68 = 2.43
5 Click competitor name to see calculations.
The analysis of the quarterly financial data reveals several key trends and patterns in the performance indicators over the reported periods.
- Share Price
- The share price demonstrated a general upward trend from early 2020 through 2023, increasing from $51.05 in March 2020 to a peak of $76.87 in December 2023. However, in 2024, the share price experienced notable volatility and a downward correction, declining to $57.43 by March 2025 before partially recovering to $69.71 by June 2025. This fluctuation suggests a period of uncertainty or external pressures affecting investor sentiment during 2024.
- Sales per Share
- Beginning from March 2021, sales per share exhibited a consistent upward trajectory. The value increased steadily from $18.82 in Q1 2021 to $28.68 in Q2 2025. This trend indicates continuous growth in revenue generation on a per-share basis, reflecting positive operational performance and possibly market expansion or pricing power.
- Price-to-Sales (P/S) Ratio
- The P/S ratio showed some variability but generally declined over time. It reached a high of 3.27 in September 2021, followed by a gradual decrease, notably falling to 2.04 by March 2025 before a slight recovery to 2.43 by June 2025. The declining P/S ratio amid rising sales per share and fluctuating share prices may imply market recalibration of valuation multiples, possibly driven by changes in growth expectations, margin outlooks, or broader market conditions impacting valuation standards.
In summary, the financial indicators suggest robust sales growth persistently improving over the last four years, while the share price experienced peaks and corrections, and the valuation multiple reflected adjusting market perceptions. This combination points to solid operational fundamentals but increased market uncertainty or changing investor sentiment in the most recent periods.
Price to Book Value (P/BV)
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 | ||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
No. shares of common stock outstanding1 | 1,293,945,412 | 1,294,815,373 | 1,293,525,167 | 1,337,194,254 | 1,335,797,706 | 1,341,359,018 | 1,346,477,411 | 1,360,895,585 | 1,360,417,919 | 1,361,853,497 | 1,363,306,849 | 1,365,618,508 | 1,370,566,113 | 1,383,923,632 | 1,388,328,044 | 1,394,972,132 | 1,397,817,443 | 1,404,711,224 | 1,412,114,559 | 1,430,162,763 | 1,428,338,344 | 1,427,464,062 | |||||||
Selected Financial Data (US$) | |||||||||||||||||||||||||||||
Total Mondelēz International shareholders’ equity (in millions) | 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) | 28,269) | 27,698) | 27,543) | 27,075) | 27,578) | 26,943) | 26,018) | 25,674) | |||||||
Book value per share (BVPS)2 | 20.24 | 19.91 | 20.82 | 20.83 | 20.73 | 21.23 | 21.04 | 20.97 | 21.06 | 20.73 | 19.72 | 19.51 | 20.07 | 20.35 | 20.36 | 19.86 | 19.70 | 19.27 | 19.53 | 18.84 | 18.22 | 17.99 | |||||||
Share price1, 3 | 69.71 | 65.65 | 57.43 | 69.15 | 67.05 | 71.94 | 76.87 | 66.82 | 72.36 | 73.82 | 65.91 | 61.87 | 62.94 | 64.04 | 67.02 | 61.36 | 65.23 | 60.88 | 56.21 | 54.42 | 56.79 | 51.05 | |||||||
Valuation Ratio | |||||||||||||||||||||||||||||
P/BV ratio4 | 3.44 | 3.30 | 2.76 | 3.32 | 3.23 | 3.39 | 3.65 | 3.19 | 3.44 | 3.56 | 3.34 | 3.17 | 3.14 | 3.15 | 3.29 | 3.09 | 3.31 | 3.16 | 2.88 | 2.89 | 3.12 | 2.84 | |||||||
Benchmarks | |||||||||||||||||||||||||||||
P/BV Ratio, Competitors5 | |||||||||||||||||||||||||||||
Coca-Cola Co. | 10.40 | 11.71 | 12.12 | 10.93 | 11.14 | 10.10 | 10.09 | 9.14 | 10.38 | 10.90 | 10.73 | 11.26 | 11.85 | 11.55 | 11.74 | 10.91 | 11.07 | 11.35 | 11.20 | 11.70 | 11.91 | 10.75 | |||||||
PepsiCo Inc. | 10.81 | 10.09 | 10.91 | 12.02 | 11.58 | 12.36 | 12.45 | 12.02 | 14.60 | 15.34 | 13.88 | 12.30 | 12.61 | 13.16 | 14.52 | 13.16 | 13.82 | 14.10 | 13.84 | 14.43 | 14.95 | 14.05 | |||||||
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 Data adjusted for splits and stock dividends.
2 Q2 2025 Calculation
BVPS = Total Mondelēz International shareholders’ equity ÷ No. shares of common stock outstanding
= 26,193,000,000 ÷ 1,293,945,412 = 20.24
3 Closing price as at the filing date of Mondelēz International Inc. Quarterly or Annual Report.
4 Q2 2025 Calculation
P/BV ratio = Share price ÷ BVPS
= 69.71 ÷ 20.24 = 3.44
5 Click competitor name to see calculations.
The analyzed data reveals several notable trends regarding the share price, book value per share (BVPS), and price-to-book value (P/BV) ratio over the quarterly periods from March 2020 to June 2025.
- Share Price
- The share price demonstrates considerable volatility with an overall upward trajectory during the initial periods from March 2020 to December 2021. Starting at $51.05 in March 2020, it peaks at $76.87 in December 2023 amid fluctuations. Following this peak, the price exhibits a declining trend into early 2025, reaching a low point of $57.43 in December 2024, before recovering slightly to $69.71 in June 2025. This pattern indicates periods of market optimism interspersed with downturns possibly influenced by external market or company-specific factors.
- Book Value Per Share (BVPS)
- BVPS shows a relatively stable and gradual increase from $17.99 in March 2020 to about $21.23 in March 2024, reflecting consistent accumulation of net assets on a per-share basis. However, after March 2024, BVPS trends slightly downward, indicating potential changes in the company's equity base or share count, with levels around $19.91 to $20.24 towards mid-2025. The stability in BVPS suggests the company maintained its underlying net worth with modest growth during most of the period.
- Price-to-Book Value Ratio (P/BV)
- The P/BV ratio fluctuates in correspondence with movements in share price and BVPS. Initially, it decreases from 2.84 in early 2020 to about 2.88 by December 2020, despite a rising BVPS. Then, it rises sharply to a peak of 3.65 at the end of 2023, indicating investor valuation premiums over book value at this time. The P/BV ratio then declines steeply to 2.76 by December 2024, reflecting the share price correction relative to book value. A mild recovery to 3.44 by June 2025 signals renewed market confidence or positive sentiment adjustments.
Overall, the data suggests that while the intrinsic book value grew steadily, market valuation in terms of share price was more volatile, reaching high valuation multiples in late 2023 before retreating. Such patterns are indicative of external market dynamics influencing the equity valuation beyond the fundamental book value. The crossing patterns of the P/BV ratio provide insights into changing investor perceptions and confidence over time.