Analysis of Solvency Ratios
Solvency ratios also known as long-term debt ratios measure a company ability to meet long-term obligations.
Solvency Ratios (Summary)
Mondelēz International Inc., solvency ratios
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).
| Solvency ratio | Description | The company |
|---|---|---|
| Debt to equity ratio | A solvency ratio calculated as total debt divided by total shareholders’ equity. | Mondelēz International Inc. debt to equity ratio deteriorated from 2021 to 2022 but then improved from 2022 to 2023 exceeding 2021 level. |
| Debt to equity ratio (including operating lease liability) | A solvency ratio calculated as total debt (including operating lease liability) divided by total shareholders’ equity. | Mondelēz International Inc. debt to equity ratio (including operating lease liability) deteriorated from 2021 to 2022 but then improved from 2022 to 2023 exceeding 2021 level. |
| Debt to capital ratio | A solvency ratio calculated as total debt divided by total debt plus shareholders’ equity. | Mondelēz International Inc. debt to capital ratio deteriorated from 2021 to 2022 but then improved from 2022 to 2023 exceeding 2021 level. |
| Debt to capital ratio (including operating lease liability) | A solvency ratio calculated as total debt (including operating lease liability) divided by total debt (including operating lease liability) plus shareholders’ equity. | Mondelēz International Inc. debt to capital ratio (including operating lease liability) deteriorated from 2021 to 2022 but then improved from 2022 to 2023 exceeding 2021 level. |
| Debt to assets ratio | A solvency ratio calculated as total debt divided by total assets. | Mondelēz International Inc. debt to assets ratio deteriorated from 2021 to 2022 but then improved from 2022 to 2023 exceeding 2021 level. |
| Debt to assets ratio (including operating lease liability) | A solvency ratio calculated as total debt (including operating lease liability) divided by total assets. | Mondelēz International Inc. debt to assets ratio (including operating lease liability) deteriorated from 2021 to 2022 but then improved from 2022 to 2023 exceeding 2021 level. |
| Financial leverage ratio | A solvency ratio calculated as total assets divided by total shareholders’ equity. | Mondelēz International Inc. financial leverage ratio increased from 2021 to 2022 but then slightly decreased from 2022 to 2023. |
| Solvency ratio | Description | The company |
|---|---|---|
| Interest coverage ratio | A solvency ratio calculated as EBIT divided by interest payments. | Mondelēz International Inc. interest coverage ratio deteriorated from 2021 to 2022 but then improved from 2022 to 2023 not reaching 2021 level. |
| Fixed charge coverage ratio | A solvency ratio calculated as earnings before fixed charges and tax divided by fixed charges. | Mondelēz International Inc. fixed charge coverage ratio deteriorated from 2021 to 2022 but then improved from 2022 to 2023 not reaching 2021 level. |
Debt to Equity
Mondelēz International Inc., debt to equity calculation, comparison to benchmarks
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||
| Short-term borrowings | 420) | 2,299) | 216) | 29) | 2,638) | |
| Current portion of long-term debt | 2,101) | 383) | 1,746) | 2,741) | 1,581) | |
| Long-term debt, excluding current portion | 16,887) | 20,251) | 17,550) | 17,276) | 14,207) | |
| Total debt | 19,408) | 22,933) | 19,512) | 20,046) | 18,426) | |
| Total Mondelēz International shareholders’ equity | 28,332) | 26,883) | 28,269) | 27,578) | 27,275) | |
| Solvency Ratio | ||||||
| Debt to equity1 | 0.69 | 0.85 | 0.69 | 0.73 | 0.68 | |
| Benchmarks | ||||||
| Debt to Equity, Competitors2 | ||||||
| Altria Group Inc. | — | — | — | 10.38 | 4.51 | |
| Coca-Cola Co. | 1.62 | 1.62 | 1.86 | 2.22 | 2.25 | |
| PepsiCo Inc. | 2.38 | 2.28 | 2.51 | 3.28 | 2.17 | |
| Philip Morris International Inc. | — | — | — | — | — | |
| Debt to Equity, Sector | ||||||
| Food, Beverage & Tobacco | 5.40 | 5.23 | 5.08 | 6.43 | 4.71 | |
| Debt to Equity, Industry | ||||||
| Consumer Staples | 1.39 | 1.26 | 1.27 | 1.44 | 1.34 | |
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 2023 Calculation
Debt to equity = Total debt ÷ Total Mondelēz International shareholders’ equity
= 19,408 ÷ 28,332 = 0.69
2 Click competitor name to see calculations.
| Solvency ratio | Description | The company |
|---|---|---|
| Debt to equity ratio | A solvency ratio calculated as total debt divided by total shareholders’ equity. | Mondelēz International Inc. debt to equity ratio deteriorated from 2021 to 2022 but then improved from 2022 to 2023 exceeding 2021 level. |
Debt to Equity (including Operating Lease Liability)
Mondelēz International Inc., debt to equity (including operating lease liability) calculation, comparison to benchmarks
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||
| Short-term borrowings | 420) | 2,299) | 216) | 29) | 2,638) | |
| Current portion of long-term debt | 2,101) | 383) | 1,746) | 2,741) | 1,581) | |
| Long-term debt, excluding current portion | 16,887) | 20,251) | 17,550) | 17,276) | 14,207) | |
| Total debt | 19,408) | 22,933) | 19,512) | 20,046) | 18,426) | |
| Current operating lease liabilities (included in Other current liabilities) | 165) | 166) | 174) | 190) | 178) | |
| Long-term operating lease liabilities | 537) | 514) | 459) | 470) | 403) | |
| Total debt (including operating lease liability) | 20,110) | 23,613) | 20,145) | 20,706) | 19,007) | |
| Total Mondelēz International shareholders’ equity | 28,332) | 26,883) | 28,269) | 27,578) | 27,275) | |
| Solvency Ratio | ||||||
| Debt to equity (including operating lease liability)1 | 0.71 | 0.88 | 0.71 | 0.75 | 0.70 | |
| Benchmarks | ||||||
| Debt to Equity (including Operating Lease Liability), Competitors2 | ||||||
| Coca-Cola Co. | 1.67 | 1.68 | 1.92 | 2.30 | 2.33 | |
| PepsiCo Inc. | 2.54 | 2.42 | 2.64 | 3.41 | 2.27 | |
| Philip Morris International Inc. | — | — | — | — | — | |
| Debt to Equity (including Operating Lease Liability), Sector | ||||||
| Food, Beverage & Tobacco | 5.57 | 5.38 | 5.23 | 6.60 | 4.84 | |
| Debt to Equity (including Operating Lease Liability), Industry | ||||||
| Consumer Staples | 1.57 | 1.43 | 1.44 | 1.64 | 1.38 | |
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 2023 Calculation
Debt to equity (including operating lease liability) = Total debt (including operating lease liability) ÷ Total Mondelēz International shareholders’ equity
= 20,110 ÷ 28,332 = 0.71
2 Click competitor name to see calculations.
| Solvency ratio | Description | The company |
|---|---|---|
| Debt to equity ratio (including operating lease liability) | A solvency ratio calculated as total debt (including operating lease liability) divided by total shareholders’ equity. | Mondelēz International Inc. debt to equity ratio (including operating lease liability) deteriorated from 2021 to 2022 but then improved from 2022 to 2023 exceeding 2021 level. |
Debt to Capital
Mondelēz International Inc., debt to capital calculation, comparison to benchmarks
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||
| Short-term borrowings | 420) | 2,299) | 216) | 29) | 2,638) | |
| Current portion of long-term debt | 2,101) | 383) | 1,746) | 2,741) | 1,581) | |
| Long-term debt, excluding current portion | 16,887) | 20,251) | 17,550) | 17,276) | 14,207) | |
| Total debt | 19,408) | 22,933) | 19,512) | 20,046) | 18,426) | |
| Total Mondelēz International shareholders’ equity | 28,332) | 26,883) | 28,269) | 27,578) | 27,275) | |
| Total capital | 47,740) | 49,816) | 47,781) | 47,624) | 45,701) | |
| Solvency Ratio | ||||||
| Debt to capital1 | 0.41 | 0.46 | 0.41 | 0.42 | 0.40 | |
| Benchmarks | ||||||
| Debt to Capital, Competitors2 | ||||||
| Altria Group Inc. | 1.16 | 1.17 | 1.06 | 0.91 | 0.82 | |
| Coca-Cola Co. | 0.62 | 0.62 | 0.65 | 0.69 | 0.69 | |
| PepsiCo Inc. | 0.70 | 0.69 | 0.72 | 0.77 | 0.68 | |
| Philip Morris International Inc. | 1.31 | 1.26 | 1.57 | 1.66 | 1.59 | |
| Debt to Capital, Sector | ||||||
| Food, Beverage & Tobacco | 0.84 | 0.84 | 0.84 | 0.87 | 0.82 | |
| Debt to Capital, Industry | ||||||
| Consumer Staples | 0.58 | 0.56 | 0.56 | 0.59 | 0.57 | |
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 2023 Calculation
Debt to capital = Total debt ÷ Total capital
= 19,408 ÷ 47,740 = 0.41
2 Click competitor name to see calculations.
| Solvency ratio | Description | The company |
|---|---|---|
| Debt to capital ratio | A solvency ratio calculated as total debt divided by total debt plus shareholders’ equity. | Mondelēz International Inc. debt to capital ratio deteriorated from 2021 to 2022 but then improved from 2022 to 2023 exceeding 2021 level. |
Debt to Capital (including Operating Lease Liability)
Mondelēz International Inc., debt to capital (including operating lease liability) calculation, comparison to benchmarks
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||
| Short-term borrowings | 420) | 2,299) | 216) | 29) | 2,638) | |
| Current portion of long-term debt | 2,101) | 383) | 1,746) | 2,741) | 1,581) | |
| Long-term debt, excluding current portion | 16,887) | 20,251) | 17,550) | 17,276) | 14,207) | |
| Total debt | 19,408) | 22,933) | 19,512) | 20,046) | 18,426) | |
| Current operating lease liabilities (included in Other current liabilities) | 165) | 166) | 174) | 190) | 178) | |
| Long-term operating lease liabilities | 537) | 514) | 459) | 470) | 403) | |
| Total debt (including operating lease liability) | 20,110) | 23,613) | 20,145) | 20,706) | 19,007) | |
| Total Mondelēz International shareholders’ equity | 28,332) | 26,883) | 28,269) | 27,578) | 27,275) | |
| Total capital (including operating lease liability) | 48,442) | 50,496) | 48,414) | 48,284) | 46,282) | |
| Solvency Ratio | ||||||
| Debt to capital (including operating lease liability)1 | 0.42 | 0.47 | 0.42 | 0.43 | 0.41 | |
| Benchmarks | ||||||
| Debt to Capital (including Operating Lease Liability), Competitors2 | ||||||
| Coca-Cola Co. | 0.63 | 0.63 | 0.66 | 0.70 | 0.70 | |
| PepsiCo Inc. | 0.72 | 0.71 | 0.73 | 0.77 | 0.69 | |
| Philip Morris International Inc. | 1.30 | 1.26 | 1.55 | 1.64 | 1.57 | |
| Debt to Capital (including Operating Lease Liability), Sector | ||||||
| Food, Beverage & Tobacco | 0.85 | 0.84 | 0.84 | 0.87 | 0.83 | |
| Debt to Capital (including Operating Lease Liability), Industry | ||||||
| Consumer Staples | 0.61 | 0.59 | 0.59 | 0.62 | 0.58 | |
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 2023 Calculation
Debt to capital (including operating lease liability) = Total debt (including operating lease liability) ÷ Total capital (including operating lease liability)
= 20,110 ÷ 48,442 = 0.42
2 Click competitor name to see calculations.
| Solvency ratio | Description | The company |
|---|---|---|
| Debt to capital ratio (including operating lease liability) | A solvency ratio calculated as total debt (including operating lease liability) divided by total debt (including operating lease liability) plus shareholders’ equity. | Mondelēz International Inc. debt to capital ratio (including operating lease liability) deteriorated from 2021 to 2022 but then improved from 2022 to 2023 exceeding 2021 level. |
Debt to Assets
Mondelēz International Inc., debt to assets calculation, comparison to benchmarks
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||
| Short-term borrowings | 420) | 2,299) | 216) | 29) | 2,638) | |
| Current portion of long-term debt | 2,101) | 383) | 1,746) | 2,741) | 1,581) | |
| Long-term debt, excluding current portion | 16,887) | 20,251) | 17,550) | 17,276) | 14,207) | |
| Total debt | 19,408) | 22,933) | 19,512) | 20,046) | 18,426) | |
| Total assets | 71,391) | 71,161) | 67,092) | 67,810) | 64,549) | |
| Solvency Ratio | ||||||
| Debt to assets1 | 0.27 | 0.32 | 0.29 | 0.30 | 0.29 | |
| Benchmarks | ||||||
| Debt to Assets, Competitors2 | ||||||
| Altria Group Inc. | 0.68 | 0.72 | 0.71 | 0.62 | 0.57 | |
| Coca-Cola Co. | 0.43 | 0.42 | 0.45 | 0.49 | 0.50 | |
| PepsiCo Inc. | 0.44 | 0.42 | 0.44 | 0.48 | 0.41 | |
| Philip Morris International Inc. | 0.73 | 0.70 | 0.67 | 0.70 | 0.72 | |
| Debt to Assets, Sector | ||||||
| Food, Beverage & Tobacco | 0.53 | 0.52 | 0.52 | 0.54 | 0.52 | |
| Debt to Assets, Industry | ||||||
| Consumer Staples | 0.33 | 0.31 | 0.32 | 0.35 | 0.35 | |
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 2023 Calculation
Debt to assets = Total debt ÷ Total assets
= 19,408 ÷ 71,391 = 0.27
2 Click competitor name to see calculations.
| Solvency ratio | Description | The company |
|---|---|---|
| Debt to assets ratio | A solvency ratio calculated as total debt divided by total assets. | Mondelēz International Inc. debt to assets ratio deteriorated from 2021 to 2022 but then improved from 2022 to 2023 exceeding 2021 level. |
Debt to Assets (including Operating Lease Liability)
Mondelēz International Inc., debt to assets (including operating lease liability) calculation, comparison to benchmarks
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||
| Short-term borrowings | 420) | 2,299) | 216) | 29) | 2,638) | |
| Current portion of long-term debt | 2,101) | 383) | 1,746) | 2,741) | 1,581) | |
| Long-term debt, excluding current portion | 16,887) | 20,251) | 17,550) | 17,276) | 14,207) | |
| Total debt | 19,408) | 22,933) | 19,512) | 20,046) | 18,426) | |
| Current operating lease liabilities (included in Other current liabilities) | 165) | 166) | 174) | 190) | 178) | |
| Long-term operating lease liabilities | 537) | 514) | 459) | 470) | 403) | |
| Total debt (including operating lease liability) | 20,110) | 23,613) | 20,145) | 20,706) | 19,007) | |
| Total assets | 71,391) | 71,161) | 67,092) | 67,810) | 64,549) | |
| Solvency Ratio | ||||||
| Debt to assets (including operating lease liability)1 | 0.28 | 0.33 | 0.30 | 0.31 | 0.29 | |
| Benchmarks | ||||||
| Debt to Assets (including Operating Lease Liability), Competitors2 | ||||||
| Coca-Cola Co. | 0.44 | 0.44 | 0.47 | 0.51 | 0.51 | |
| PepsiCo Inc. | 0.47 | 0.45 | 0.46 | 0.49 | 0.43 | |
| Philip Morris International Inc. | 0.74 | 0.71 | 0.69 | 0.72 | 0.74 | |
| Debt to Assets (including Operating Lease Liability), Sector | ||||||
| Food, Beverage & Tobacco | 0.55 | 0.54 | 0.53 | 0.56 | 0.54 | |
| Debt to Assets (including Operating Lease Liability), Industry | ||||||
| Consumer Staples | 0.38 | 0.36 | 0.36 | 0.40 | 0.36 | |
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 2023 Calculation
Debt to assets (including operating lease liability) = Total debt (including operating lease liability) ÷ Total assets
= 20,110 ÷ 71,391 = 0.28
2 Click competitor name to see calculations.
| Solvency ratio | Description | The company |
|---|---|---|
| Debt to assets ratio (including operating lease liability) | A solvency ratio calculated as total debt (including operating lease liability) divided by total assets. | Mondelēz International Inc. debt to assets ratio (including operating lease liability) deteriorated from 2021 to 2022 but then improved from 2022 to 2023 exceeding 2021 level. |
Financial Leverage
Mondelēz International Inc., financial leverage calculation, comparison to benchmarks
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||
| Total assets | 71,391) | 71,161) | 67,092) | 67,810) | 64,549) | |
| Total Mondelēz International shareholders’ equity | 28,332) | 26,883) | 28,269) | 27,578) | 27,275) | |
| Solvency Ratio | ||||||
| Financial leverage1 | 2.52 | 2.65 | 2.37 | 2.46 | 2.37 | |
| Benchmarks | ||||||
| Financial Leverage, Competitors2 | ||||||
| Altria Group Inc. | — | — | — | 16.70 | 7.92 | |
| Coca-Cola Co. | 3.77 | 3.85 | 4.10 | 4.52 | 4.55 | |
| PepsiCo Inc. | 5.43 | 5.38 | 5.76 | 6.91 | 5.31 | |
| Philip Morris International Inc. | — | — | — | — | — | |
| Financial Leverage, Sector | ||||||
| Food, Beverage & Tobacco | 10.18 | 10.01 | 9.79 | 11.83 | 9.05 | |
| Financial Leverage, Industry | ||||||
| Consumer Staples | 4.19 | 3.99 | 4.01 | 4.15 | 3.82 | |
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 2023 Calculation
Financial leverage = Total assets ÷ Total Mondelēz International shareholders’ equity
= 71,391 ÷ 28,332 = 2.52
2 Click competitor name to see calculations.
| Solvency ratio | Description | The company |
|---|---|---|
| Financial leverage ratio | A solvency ratio calculated as total assets divided by total shareholders’ equity. | Mondelēz International Inc. financial leverage ratio increased from 2021 to 2022 but then slightly decreased from 2022 to 2023. |
Interest Coverage
Mondelēz International Inc., interest coverage calculation, comparison to benchmarks
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||
| Net earnings attributable to Mondelēz International | 4,959) | 2,717) | 4,300) | 3,555) | 3,870) | |
| Add: Net income attributable to noncontrolling interest | 9) | 9) | 14) | 14) | 15) | |
| Add: Income tax expense | 1,537) | 865) | 1,190) | 1,224) | 2) | |
| Add: Interest expense, debt | 550) | 428) | 365) | 423) | 484) | |
| Earnings before interest and tax (EBIT) | 7,055) | 4,019) | 5,869) | 5,216) | 4,371) | |
| Solvency Ratio | ||||||
| Interest coverage1 | 12.83 | 9.39 | 16.08 | 12.33 | 9.03 | |
| Benchmarks | ||||||
| Interest Coverage, Competitors2 | ||||||
| Altria Group Inc. | 10.51 | 7.55 | 4.22 | 6.63 | 1.58 | |
| Coca-Cola Co. | 9.48 | 14.25 | 8.78 | 7.78 | 12.40 | |
| PepsiCo Inc. | 8.95 | 10.57 | 5.94 | 8.24 | 9.20 | |
| Philip Morris International Inc. | 7.95 | 16.33 | 17.80 | 16.07 | 13.59 | |
| Interest Coverage, Sector | ||||||
| Food, Beverage & Tobacco | 9.14 | 11.66 | 7.98 | 8.90 | 8.36 | |
| Interest Coverage, Industry | ||||||
| Consumer Staples | 11.27 | 14.88 | 10.59 | 11.00 | 8.58 | |
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 2023 Calculation
Interest coverage = EBIT ÷ Interest expense
= 7,055 ÷ 550 = 12.83
2 Click competitor name to see calculations.
| Solvency ratio | Description | The company |
|---|---|---|
| Interest coverage ratio | A solvency ratio calculated as EBIT divided by interest payments. | Mondelēz International Inc. interest coverage ratio deteriorated from 2021 to 2022 but then improved from 2022 to 2023 not reaching 2021 level. |
Fixed Charge Coverage
Mondelēz International Inc., fixed charge coverage calculation, comparison to benchmarks
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||
| Net earnings attributable to Mondelēz International | 4,959) | 2,717) | 4,300) | 3,555) | 3,870) | |
| Add: Net income attributable to noncontrolling interest | 9) | 9) | 14) | 14) | 15) | |
| Add: Income tax expense | 1,537) | 865) | 1,190) | 1,224) | 2) | |
| Add: Interest expense, debt | 550) | 428) | 365) | 423) | 484) | |
| Earnings before interest and tax (EBIT) | 7,055) | 4,019) | 5,869) | 5,216) | 4,371) | |
| Add: Operating lease cost | 223) | 213) | 228) | 236) | 222) | |
| Earnings before fixed charges and tax | 7,278) | 4,232) | 6,097) | 5,452) | 4,593) | |
| Interest expense, debt | 550) | 428) | 365) | 423) | 484) | |
| Operating lease cost | 223) | 213) | 228) | 236) | 222) | |
| Fixed charges | 773) | 641) | 593) | 659) | 706) | |
| Solvency Ratio | ||||||
| Fixed charge coverage1 | 9.42 | 6.60 | 10.28 | 8.27 | 6.51 | |
| Benchmarks | ||||||
| Fixed Charge Coverage, Competitors2 | ||||||
| Coca-Cola Co. | 7.73 | 10.14 | 7.41 | 6.45 | 9.47 | |
| PepsiCo Inc. | 6.43 | 7.28 | 4.85 | 6.06 | 6.79 | |
| Philip Morris International Inc. | 6.92 | 12.59 | 13.43 | 11.50 | 9.88 | |
| Fixed Charge Coverage, Sector | ||||||
| Food, Beverage & Tobacco | 7.59 | 9.10 | 6.76 | 7.27 | 6.79 | |
| Fixed Charge Coverage, Industry | ||||||
| Consumer Staples | 6.97 | 8.29 | 6.71 | 6.68 | 5.11 | |
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 2023 Calculation
Fixed charge coverage = Earnings before fixed charges and tax ÷ Fixed charges
= 7,278 ÷ 773 = 9.42
2 Click competitor name to see calculations.
| Solvency ratio | Description | The company |
|---|---|---|
| Fixed charge coverage ratio | A solvency ratio calculated as earnings before fixed charges and tax divided by fixed charges. | Mondelēz International Inc. fixed charge coverage ratio deteriorated from 2021 to 2022 but then improved from 2022 to 2023 not reaching 2021 level. |