Stock Analysis on Net

Mondelēz International Inc. (NASDAQ:MDLZ)

Analysis of Solvency Ratios 
Quarterly Data

Microsoft Excel

Solvency Ratios (Summary)

Mondelēz International Inc., solvency ratios (quarterly data)

Microsoft Excel
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
Debt Ratios
Debt to equity 0.66 0.71 0.71 0.67 0.69 0.70 0.74 0.79 0.85 0.81 0.70 0.70 0.69 0.72 0.69 0.72 0.73 0.75 0.76 0.77
Debt to equity (including operating lease liability) 0.68 0.73 0.73 0.69 0.70 0.72 0.76 0.80 0.87 0.83 0.72 0.72 0.71 0.74 0.71 0.74 0.74 0.76 0.78 0.79
Debt to capital 0.40 0.42 0.42 0.40 0.41 0.41 0.43 0.44 0.46 0.45 0.41 0.41 0.41 0.42 0.41 0.42 0.42 0.43 0.43 0.44
Debt to capital (including operating lease liability) 0.41 0.42 0.42 0.41 0.41 0.42 0.43 0.45 0.47 0.45 0.42 0.42 0.41 0.42 0.41 0.42 0.43 0.43 0.44 0.44
Debt to assets 0.26 0.27 0.27 0.25 0.27 0.28 0.29 0.31 0.32 0.32 0.29 0.29 0.29 0.30 0.29 0.29 0.30 0.30 0.31 0.31
Debt to assets (including operating lease liability) 0.27 0.28 0.28 0.25 0.28 0.29 0.30 0.31 0.33 0.33 0.30 0.30 0.30 0.30 0.29 0.30 0.30 0.31 0.31 0.32
Financial leverage 2.54 2.59 2.64 2.73 2.52 2.48 2.51 2.58 2.65 2.55 2.40 2.41 2.37 2.43 2.41 2.45 2.46 2.46 2.47 2.48

Based on: 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).

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 improved from Q2 2024 to Q3 2024 and from Q3 2024 to Q4 2024.
Debt to equity (including operating lease liability) ratio 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 Q2 2024 to Q3 2024 but then improved from Q3 2024 to Q4 2024 exceeding Q2 2024 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 improved from Q2 2024 to Q3 2024 and from Q3 2024 to Q4 2024.
Debt to capital (including operating lease liability) ratio 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 Q2 2024 to Q3 2024 but then improved from Q3 2024 to Q4 2024 exceeding Q2 2024 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 Q2 2024 to Q3 2024 but then improved from Q3 2024 to Q4 2024 exceeding Q2 2024 level.
Debt to assets (including operating lease liability) ratio 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 Q2 2024 to Q3 2024 but then improved from Q3 2024 to Q4 2024 exceeding Q2 2024 level.
Financial leverage ratio A solvency ratio calculated as total assets divided by total shareholders’ equity. Mondelēz International Inc. financial leverage ratio decreased from Q2 2024 to Q3 2024 and from Q3 2024 to Q4 2024.

Debt to Equity

Mondelēz International Inc., debt to equity calculation (quarterly data)

Microsoft Excel
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
Selected Financial Data (US$ in millions)
Short-term borrowings 71 1,484 838 259 420 1,221 2,178 2,461 2,299 1,753 605 606 216 234 64 674 29 199 2,755 4,764
Current portion of long-term debt 2,014 1,821 2,774 2,024 2,101 2,354 901 1,185 383 100 746 754 1,746 2,061 1,905 1,895 2,741 999 945 1,672
Long-term debt, excluding current portion 15,664 16,499 16,141 16,781 16,887 16,411 18,147 18,556 20,251 19,811 17,861 18,344 17,550 17,692 17,046 16,961 17,276 18,916 16,004 13,354
Total debt 17,749 19,804 19,753 19,064 19,408 19,986 21,226 22,202 22,933 21,664 19,212 19,704 19,512 19,987 19,015 19,530 20,046 20,114 19,704 19,790
 
Total Mondelēz International shareholders’ equity 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
Solvency Ratio
Debt to equity1 0.66 0.71 0.71 0.67 0.69 0.70 0.74 0.79 0.85 0.81 0.70 0.70 0.69 0.72 0.69 0.72 0.73 0.75 0.76 0.77
Benchmarks
Debt to Equity, Competitors2
Coca-Cola Co. 1.79 1.74 1.69 1.61 1.62 1.53 1.60 1.68 1.62 1.74 1.82 1.68 1.86 1.88 1.89 2.21 2.22 2.84 2.99 2.78
PepsiCo Inc. 2.46 2.31 2.31 2.41 2.38 2.38 2.47 2.45 2.28 2.07 2.12 2.20 2.51 2.60 2.76 3.13 3.28 3.31 3.60 3.06
Philip Morris International Inc.

Based on: 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 Q4 2024 Calculation
Debt to equity = Total debt ÷ Total Mondelēz International shareholders’ equity
= 17,749 ÷ 26,932 = 0.66

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 improved from Q2 2024 to Q3 2024 and from Q3 2024 to Q4 2024.

Debt to Equity (including Operating Lease Liability)

Mondelēz International Inc., debt to equity (including operating lease liability) calculation (quarterly data)

Microsoft Excel
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
Selected Financial Data (US$ in millions)
Short-term borrowings 71 1,484 838 259 420 1,221 2,178 2,461 2,299 1,753 605 606 216 234 64 674 29 199 2,755 4,764
Current portion of long-term debt 2,014 1,821 2,774 2,024 2,101 2,354 901 1,185 383 100 746 754 1,746 2,061 1,905 1,895 2,741 999 945 1,672
Long-term debt, excluding current portion 15,664 16,499 16,141 16,781 16,887 16,411 18,147 18,556 20,251 19,811 17,861 18,344 17,550 17,692 17,046 16,961 17,276 18,916 16,004 13,354
Total debt 17,749 19,804 19,753 19,064 19,408 19,986 21,226 22,202 22,933 21,664 19,212 19,704 19,512 19,987 19,015 19,530 20,046 20,114 19,704 19,790
Long-term operating lease liabilities 623 621 492 504 537 466 492 508 514 523 489 508 459 476 489 447 470 484 479 433
Total debt (including operating lease liability) 18,372 20,425 20,245 19,568 19,945 20,452 21,718 22,710 23,447 22,187 19,701 20,212 19,971 20,463 19,504 19,977 20,516 20,598 20,183 20,223
 
Total Mondelēz International shareholders’ equity 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
Solvency Ratio
Debt to equity (including operating lease liability)1 0.68 0.73 0.73 0.69 0.70 0.72 0.76 0.80 0.87 0.83 0.72 0.72 0.71 0.74 0.71 0.74 0.74 0.76 0.78 0.79

Based on: 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 Q4 2024 Calculation
Debt to equity (including operating lease liability) = Total debt (including operating lease liability) ÷ Total Mondelēz International shareholders’ equity
= 18,372 ÷ 26,932 = 0.68

Solvency ratio Description The company
Debt to equity (including operating lease liability) ratio 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 Q2 2024 to Q3 2024 but then improved from Q3 2024 to Q4 2024 exceeding Q2 2024 level.

Debt to Capital

Mondelēz International Inc., debt to capital calculation (quarterly data)

Microsoft Excel
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
Selected Financial Data (US$ in millions)
Short-term borrowings 71 1,484 838 259 420 1,221 2,178 2,461 2,299 1,753 605 606 216 234 64 674 29 199 2,755 4,764
Current portion of long-term debt 2,014 1,821 2,774 2,024 2,101 2,354 901 1,185 383 100 746 754 1,746 2,061 1,905 1,895 2,741 999 945 1,672
Long-term debt, excluding current portion 15,664 16,499 16,141 16,781 16,887 16,411 18,147 18,556 20,251 19,811 17,861 18,344 17,550 17,692 17,046 16,961 17,276 18,916 16,004 13,354
Total debt 17,749 19,804 19,753 19,064 19,408 19,986 21,226 22,202 22,933 21,664 19,212 19,704 19,512 19,987 19,015 19,530 20,046 20,114 19,704 19,790
Total Mondelēz International shareholders’ equity 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
Total capital 44,681 47,658 47,442 47,546 47,740 48,521 49,873 50,430 49,816 48,305 46,723 47,865 47,781 47,685 46,558 46,605 47,624 47,057 45,722 45,464
Solvency Ratio
Debt to capital1 0.40 0.42 0.42 0.40 0.41 0.41 0.43 0.44 0.46 0.45 0.41 0.41 0.41 0.42 0.41 0.42 0.42 0.43 0.43 0.44
Benchmarks
Debt to Capital, Competitors2
Coca-Cola Co. 0.64 0.64 0.63 0.62 0.62 0.60 0.62 0.63 0.62 0.63 0.65 0.63 0.65 0.65 0.65 0.69 0.69 0.74 0.75 0.74
PepsiCo Inc. 0.71 0.70 0.70 0.71 0.70 0.70 0.71 0.71 0.69 0.67 0.68 0.69 0.72 0.72 0.73 0.76 0.77 0.77 0.78 0.75
Philip Morris International Inc. 1.35 1.25 1.25 1.26 1.31 1.25 1.25 1.23 1.26 1.51 1.48 1.52 1.57 1.57 1.62 1.65 1.66 1.70 1.68 1.84

Based on: 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 Q4 2024 Calculation
Debt to capital = Total debt ÷ Total capital
= 17,749 ÷ 44,681 = 0.40

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 improved from Q2 2024 to Q3 2024 and from Q3 2024 to Q4 2024.

Debt to Capital (including Operating Lease Liability)

Mondelēz International Inc., debt to capital (including operating lease liability) calculation (quarterly data)

Microsoft Excel
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
Selected Financial Data (US$ in millions)
Short-term borrowings 71 1,484 838 259 420 1,221 2,178 2,461 2,299 1,753 605 606 216 234 64 674 29 199 2,755 4,764
Current portion of long-term debt 2,014 1,821 2,774 2,024 2,101 2,354 901 1,185 383 100 746 754 1,746 2,061 1,905 1,895 2,741 999 945 1,672
Long-term debt, excluding current portion 15,664 16,499 16,141 16,781 16,887 16,411 18,147 18,556 20,251 19,811 17,861 18,344 17,550 17,692 17,046 16,961 17,276 18,916 16,004 13,354
Total debt 17,749 19,804 19,753 19,064 19,408 19,986 21,226 22,202 22,933 21,664 19,212 19,704 19,512 19,987 19,015 19,530 20,046 20,114 19,704 19,790
Long-term operating lease liabilities 623 621 492 504 537 466 492 508 514 523 489 508 459 476 489 447 470 484 479 433
Total debt (including operating lease liability) 18,372 20,425 20,245 19,568 19,945 20,452 21,718 22,710 23,447 22,187 19,701 20,212 19,971 20,463 19,504 19,977 20,516 20,598 20,183 20,223
Total Mondelēz International shareholders’ equity 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
Total capital (including operating lease liability) 45,304 48,279 47,934 48,050 48,277 48,987 50,365 50,938 50,330 48,828 47,212 48,373 48,240 48,161 47,047 47,052 48,094 47,541 46,201 45,897
Solvency Ratio
Debt to capital (including operating lease liability)1 0.41 0.42 0.42 0.41 0.41 0.42 0.43 0.45 0.47 0.45 0.42 0.42 0.41 0.42 0.41 0.42 0.43 0.43 0.44 0.44

Based on: 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 Q4 2024 Calculation
Debt to capital (including operating lease liability) = Total debt (including operating lease liability) ÷ Total capital (including operating lease liability)
= 18,372 ÷ 45,304 = 0.41

Solvency ratio Description The company
Debt to capital (including operating lease liability) ratio 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 Q2 2024 to Q3 2024 but then improved from Q3 2024 to Q4 2024 exceeding Q2 2024 level.

Debt to Assets

Mondelēz International Inc., debt to assets calculation (quarterly data)

Microsoft Excel
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
Selected Financial Data (US$ in millions)
Short-term borrowings 71 1,484 838 259 420 1,221 2,178 2,461 2,299 1,753 605 606 216 234 64 674 29 199 2,755 4,764
Current portion of long-term debt 2,014 1,821 2,774 2,024 2,101 2,354 901 1,185 383 100 746 754 1,746 2,061 1,905 1,895 2,741 999 945 1,672
Long-term debt, excluding current portion 15,664 16,499 16,141 16,781 16,887 16,411 18,147 18,556 20,251 19,811 17,861 18,344 17,550 17,692 17,046 16,961 17,276 18,916 16,004 13,354
Total debt 17,749 19,804 19,753 19,064 19,408 19,986 21,226 22,202 22,933 21,664 19,212 19,704 19,512 19,987 19,015 19,530 20,046 20,114 19,704 19,790
 
Total assets 68,497 72,191 73,096 77,624 71,391 70,860 72,025 72,786 71,161 68,036 66,014 67,994 67,092 67,317 66,477 66,349 67,810 66,249 64,194 63,598
Solvency Ratio
Debt to assets1 0.26 0.27 0.27 0.25 0.27 0.28 0.29 0.31 0.32 0.32 0.29 0.29 0.29 0.30 0.29 0.29 0.30 0.30 0.31 0.31
Benchmarks
Debt to Assets, Competitors2
Coca-Cola Co. 0.44 0.44 0.43 0.43 0.43 0.41 0.42 0.44 0.42 0.43 0.45 0.44 0.45 0.46 0.47 0.50 0.49 0.54 0.55 0.54
PepsiCo Inc. 0.45 0.45 0.45 0.46 0.44 0.45 0.45 0.45 0.42 0.42 0.42 0.43 0.44 0.44 0.46 0.48 0.48 0.48 0.50 0.48
Philip Morris International Inc. 0.74 0.74 0.75 0.77 0.73 0.76 0.77 0.76 0.70 0.67 0.68 0.70 0.67 0.70 0.72 0.74 0.70 0.75 0.76 0.76

Based on: 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 Q4 2024 Calculation
Debt to assets = Total debt ÷ Total assets
= 17,749 ÷ 68,497 = 0.26

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 Q2 2024 to Q3 2024 but then improved from Q3 2024 to Q4 2024 exceeding Q2 2024 level.

Debt to Assets (including Operating Lease Liability)

Mondelēz International Inc., debt to assets (including operating lease liability) calculation (quarterly data)

Microsoft Excel
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
Selected Financial Data (US$ in millions)
Short-term borrowings 71 1,484 838 259 420 1,221 2,178 2,461 2,299 1,753 605 606 216 234 64 674 29 199 2,755 4,764
Current portion of long-term debt 2,014 1,821 2,774 2,024 2,101 2,354 901 1,185 383 100 746 754 1,746 2,061 1,905 1,895 2,741 999 945 1,672
Long-term debt, excluding current portion 15,664 16,499 16,141 16,781 16,887 16,411 18,147 18,556 20,251 19,811 17,861 18,344 17,550 17,692 17,046 16,961 17,276 18,916 16,004 13,354
Total debt 17,749 19,804 19,753 19,064 19,408 19,986 21,226 22,202 22,933 21,664 19,212 19,704 19,512 19,987 19,015 19,530 20,046 20,114 19,704 19,790
Long-term operating lease liabilities 623 621 492 504 537 466 492 508 514 523 489 508 459 476 489 447 470 484 479 433
Total debt (including operating lease liability) 18,372 20,425 20,245 19,568 19,945 20,452 21,718 22,710 23,447 22,187 19,701 20,212 19,971 20,463 19,504 19,977 20,516 20,598 20,183 20,223
 
Total assets 68,497 72,191 73,096 77,624 71,391 70,860 72,025 72,786 71,161 68,036 66,014 67,994 67,092 67,317 66,477 66,349 67,810 66,249 64,194 63,598
Solvency Ratio
Debt to assets (including operating lease liability)1 0.27 0.28 0.28 0.25 0.28 0.29 0.30 0.31 0.33 0.33 0.30 0.30 0.30 0.30 0.29 0.30 0.30 0.31 0.31 0.32

Based on: 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 Q4 2024 Calculation
Debt to assets (including operating lease liability) = Total debt (including operating lease liability) ÷ Total assets
= 18,372 ÷ 68,497 = 0.27

Solvency ratio Description The company
Debt to assets (including operating lease liability) ratio 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 Q2 2024 to Q3 2024 but then improved from Q3 2024 to Q4 2024 exceeding Q2 2024 level.

Financial Leverage

Mondelēz International Inc., financial leverage calculation (quarterly data)

Microsoft Excel
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
Selected Financial Data (US$ in millions)
Total assets 68,497 72,191 73,096 77,624 71,391 70,860 72,025 72,786 71,161 68,036 66,014 67,994 67,092 67,317 66,477 66,349 67,810 66,249 64,194 63,598
Total Mondelēz International shareholders’ equity 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
Solvency Ratio
Financial leverage1 2.54 2.59 2.64 2.73 2.52 2.48 2.51 2.58 2.65 2.55 2.40 2.41 2.37 2.43 2.41 2.45 2.46 2.46 2.47 2.48
Benchmarks
Financial Leverage, Competitors2
Coca-Cola Co. 4.05 4.01 3.91 3.76 3.77 3.71 3.78 3.86 3.85 4.05 4.05 3.79 4.10 4.09 4.05 4.42 4.52 5.22 5.42 5.18
PepsiCo Inc. 5.51 5.17 5.12 5.25 5.43 5.31 5.42 5.46 5.38 4.98 5.02 5.11 5.76 5.88 6.04 6.54 6.91 6.83 7.17 6.32
Philip Morris International Inc.

Based on: 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 Q4 2024 Calculation
Financial leverage = Total assets ÷ Total Mondelēz International shareholders’ equity
= 68,497 ÷ 26,932 = 2.54

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 decreased from Q2 2024 to Q3 2024 and from Q3 2024 to Q4 2024.