Analysis of Short-term (Operating) Activity Ratios
Activity ratios measure how efficiently a company performs day-to-day tasks, such us the collection of receivables and management of inventory.
Short-term Activity Ratios (Summary)
Mondelēz International Inc., short-term (operating) activity ratios
Based on: 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), 10-K (reporting date: 2020-12-31).
| Short-term activity ratio | Description | The company |
|---|---|---|
| Inventory turnover | An activity ratio calculated as cost of goods sold divided by inventory. | Mondelēz International Inc. inventory turnover ratio improved from 2022 to 2023 but then deteriorated significantly from 2023 to 2024. |
| Receivables turnover | An activity ratio equal to revenue divided by receivables. | Mondelēz International Inc. receivables turnover ratio deteriorated from 2022 to 2023 and from 2023 to 2024. |
| Payables turnover | An activity ratio calculated as cost of goods sold divided by payables. | Mondelēz International Inc. payables turnover ratio increased from 2022 to 2023 but then decreased significantly from 2023 to 2024. |
| Short-term activity ratio | Description | The company |
|---|---|---|
| Average inventory processing period | An activity ratio equal to the number of days in the period divided by inventory turnover over the period. | Mondelēz International Inc. number of days of inventory outstanding improved from 2022 to 2023 but then deteriorated significantly from 2023 to 2024. |
| Average receivable collection period | An activity ratio equal to the number of days in the period divided by receivables turnover. | Mondelēz International Inc. number of days of receivables outstanding deteriorated from 2022 to 2023 and from 2023 to 2024. |
| Operating cycle | Equal to average inventory processing period plus average receivables collection period. | Mondelēz International Inc. operating cycle improved from 2022 to 2023 but then deteriorated significantly from 2023 to 2024. |
| Average payables payment period | An estimate of the average number of days it takes a company to pay its suppliers; equal to the number of days in the period divided by payables turnover ratio for the period. | Mondelēz International Inc. number of days of payables outstanding decreased from 2022 to 2023 but then increased from 2023 to 2024 exceeding 2022 level. |
| Cash conversion cycle | A financial metric that measures the length of time required for a company to convert cash invested in its operations to cash received as a result of its operations; equal to average inventory processing period plus average receivables collection period minus average payables payment period. |
Inventory Turnover
Mondelēz International Inc., inventory turnover calculation, comparison to benchmarks
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||
| Cost of sales | 22,184) | 22,252) | 20,184) | 17,466) | 16,135) | |
| Inventories, net | 3,827) | 3,615) | 3,381) | 2,708) | 2,647) | |
| Short-term Activity Ratio | ||||||
| Inventory turnover1 | 5.80 | 6.16 | 5.97 | 6.45 | 6.10 | |
| Benchmarks | ||||||
| Inventory Turnover, Competitors2 | ||||||
| Coca-Cola Co. | — | 4.19 | 4.25 | 4.50 | 4.11 | |
| PepsiCo Inc. | 7.87 | 7.85 | 7.77 | 8.53 | 7.62 | |
| Philip Morris International Inc. | 1.41 | 1.20 | 1.15 | 1.15 | 1.00 | |
| Inventory Turnover, Sector | ||||||
| Food, Beverage & Tobacco | — | 3.96 | 3.97 | 4.17 | 3.61 | |
| Inventory Turnover, Industry | ||||||
| Consumer Staples | — | 7.60 | 7.08 | 8.15 | 7.71 | |
Based on: 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), 10-K (reporting date: 2020-12-31).
1 2024 Calculation
Inventory turnover = Cost of sales ÷ Inventories, net
= 22,184 ÷ 3,827 = 5.80
2 Click competitor name to see calculations.
| Short-term activity ratio | Description | The company |
|---|---|---|
| Inventory turnover | An activity ratio calculated as cost of goods sold divided by inventory. | Mondelēz International Inc. inventory turnover ratio improved from 2022 to 2023 but then deteriorated significantly from 2023 to 2024. |
Receivables Turnover
Mondelēz International Inc., receivables turnover calculation, comparison to benchmarks
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||
| Net revenues | 36,441) | 36,016) | 31,496) | 28,720) | 26,581) | |
| Trade receivables, net of allowances | 3,874) | 3,634) | 3,088) | 2,337) | 2,297) | |
| Short-term Activity Ratio | ||||||
| Receivables turnover1 | 9.41 | 9.91 | 10.20 | 12.29 | 11.57 | |
| Benchmarks | ||||||
| Receivables Turnover, Competitors2 | ||||||
| Coca-Cola Co. | — | 13.42 | 12.33 | 11.01 | 10.50 | |
| PepsiCo Inc. | 8.89 | 8.46 | 8.50 | 9.16 | 8.37 | |
| Philip Morris International Inc. | 10.00 | 10.16 | 8.25 | 10.06 | 9.88 | |
| Receivables Turnover, Sector | ||||||
| Food, Beverage & Tobacco | — | 9.78 | 9.36 | 10.10 | 9.47 | |
| Receivables Turnover, Industry | ||||||
| Consumer Staples | — | 32.52 | 31.49 | 34.92 | 33.83 | |
Based on: 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), 10-K (reporting date: 2020-12-31).
1 2024 Calculation
Receivables turnover = Net revenues ÷ Trade receivables, net of allowances
= 36,441 ÷ 3,874 = 9.41
2 Click competitor name to see calculations.
| Short-term activity ratio | Description | The company |
|---|---|---|
| Receivables turnover | An activity ratio equal to revenue divided by receivables. | Mondelēz International Inc. receivables turnover ratio deteriorated from 2022 to 2023 and from 2023 to 2024. |
Payables Turnover
Mondelēz International Inc., payables turnover calculation, comparison to benchmarks
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||
| Cost of sales | 22,184) | 22,252) | 20,184) | 17,466) | 16,135) | |
| Accounts payable | 9,433) | 8,321) | 7,562) | 6,730) | 6,209) | |
| Short-term Activity Ratio | ||||||
| Payables turnover1 | 2.35 | 2.67 | 2.67 | 2.60 | 2.60 | |
| Benchmarks | ||||||
| Payables Turnover, Competitors2 | ||||||
| Coca-Cola Co. | — | 3.31 | 3.39 | 3.34 | 3.82 | |
| PepsiCo Inc. | 3.80 | 3.60 | 3.78 | 3.77 | 3.59 | |
| Philip Morris International Inc. | 3.37 | 3.11 | 2.80 | 3.01 | 3.44 | |
| Payables Turnover, Sector | ||||||
| Food, Beverage & Tobacco | — | 3.22 | 3.26 | 3.26 | 3.32 | |
| Payables Turnover, Industry | ||||||
| Consumer Staples | — | 6.95 | 6.37 | 6.65 | 6.70 | |
Based on: 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), 10-K (reporting date: 2020-12-31).
1 2024 Calculation
Payables turnover = Cost of sales ÷ Accounts payable
= 22,184 ÷ 9,433 = 2.35
2 Click competitor name to see calculations.
| Short-term activity ratio | Description | The company |
|---|---|---|
| Payables turnover | An activity ratio calculated as cost of goods sold divided by payables. | Mondelēz International Inc. payables turnover ratio increased from 2022 to 2023 but then decreased significantly from 2023 to 2024. |
Working Capital Turnover
Mondelēz International Inc., working capital turnover calculation, comparison to benchmarks
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||
| Current assets | 13,242) | 11,703) | 10,091) | 10,342) | 9,979) | |
| Less: Current liabilities | 19,549) | 19,013) | 16,731) | 14,008) | 15,159) | |
| Working capital | (6,307) | (7,310) | (6,640) | (3,666) | (5,180) | |
| Net revenues | 36,441) | 36,016) | 31,496) | 28,720) | 26,581) | |
| Short-term Activity Ratio | ||||||
| Working capital turnover1 | — | — | — | — | — | |
| Benchmarks | ||||||
| Working Capital Turnover, Competitors2 | ||||||
| Coca-Cola Co. | — | 14.47 | 15.00 | 14.90 | 7.12 | |
| PepsiCo Inc. | — | — | — | — | — | |
| Philip Morris International Inc. | — | — | — | — | 15.29 | |
| Working Capital Turnover, Sector | ||||||
| Food, Beverage & Tobacco | — | — | — | — | 164.42 | |
| Working Capital Turnover, Industry | ||||||
| Consumer Staples | — | — | — | — | — | |
Based on: 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), 10-K (reporting date: 2020-12-31).
1 2024 Calculation
Working capital turnover = Net revenues ÷ Working capital
= 36,441 ÷ -6,307 = —
2 Click competitor name to see calculations.
Average Inventory Processing Period
Mondelēz International Inc., average inventory processing period calculation, comparison to benchmarks
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data | ||||||
| Inventory turnover | 5.80 | 6.16 | 5.97 | 6.45 | 6.10 | |
| Short-term Activity Ratio (no. days) | ||||||
| Average inventory processing period1 | 63 | 59 | 61 | 57 | 60 | |
| Benchmarks (no. days) | ||||||
| Average Inventory Processing Period, Competitors2 | ||||||
| Coca-Cola Co. | — | 87 | 86 | 81 | 89 | |
| PepsiCo Inc. | 46 | 46 | 47 | 43 | 48 | |
| Philip Morris International Inc. | 259 | 305 | 316 | 317 | 366 | |
| Average Inventory Processing Period, Sector | ||||||
| Food, Beverage & Tobacco | — | 92 | 92 | 88 | 101 | |
| Average Inventory Processing Period, Industry | ||||||
| Consumer Staples | — | 48 | 52 | 45 | 47 | |
Based on: 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), 10-K (reporting date: 2020-12-31).
1 2024 Calculation
Average inventory processing period = 365 ÷ Inventory turnover
= 365 ÷ 5.80 = 63
2 Click competitor name to see calculations.
| Short-term activity ratio | Description | The company |
|---|---|---|
| Average inventory processing period | An activity ratio equal to the number of days in the period divided by inventory turnover over the period. | Mondelēz International Inc. number of days of inventory outstanding improved from 2022 to 2023 but then deteriorated significantly from 2023 to 2024. |
Average Receivable Collection Period
Mondelēz International Inc., average receivable collection period calculation, comparison to benchmarks
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data | ||||||
| Receivables turnover | 9.41 | 9.91 | 10.20 | 12.29 | 11.57 | |
| Short-term Activity Ratio (no. days) | ||||||
| Average receivable collection period1 | 39 | 37 | 36 | 30 | 32 | |
| Benchmarks (no. days) | ||||||
| Average Receivable Collection Period, Competitors2 | ||||||
| Coca-Cola Co. | — | 27 | 30 | 33 | 35 | |
| PepsiCo Inc. | 41 | 43 | 43 | 40 | 44 | |
| Philip Morris International Inc. | 37 | 36 | 44 | 36 | 37 | |
| Average Receivable Collection Period, Sector | ||||||
| Food, Beverage & Tobacco | — | 37 | 39 | 36 | 39 | |
| Average Receivable Collection Period, Industry | ||||||
| Consumer Staples | — | 11 | 12 | 10 | 11 | |
Based on: 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), 10-K (reporting date: 2020-12-31).
1 2024 Calculation
Average receivable collection period = 365 ÷ Receivables turnover
= 365 ÷ 9.41 = 39
2 Click competitor name to see calculations.
| Short-term activity ratio | Description | The company |
|---|---|---|
| Average receivable collection period | An activity ratio equal to the number of days in the period divided by receivables turnover. | Mondelēz International Inc. number of days of receivables outstanding deteriorated from 2022 to 2023 and from 2023 to 2024. |
Operating Cycle
Mondelēz International Inc., operating cycle calculation, comparison to benchmarks
No. days
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data | ||||||
| Average inventory processing period | 63 | 59 | 61 | 57 | 60 | |
| Average receivable collection period | 39 | 37 | 36 | 30 | 32 | |
| Short-term Activity Ratio | ||||||
| Operating cycle1 | 102 | 96 | 97 | 87 | 92 | |
| Benchmarks | ||||||
| Operating Cycle, Competitors2 | ||||||
| Coca-Cola Co. | — | 114 | 116 | 114 | 124 | |
| PepsiCo Inc. | 87 | 89 | 90 | 83 | 92 | |
| Philip Morris International Inc. | 296 | 341 | 360 | 353 | 403 | |
| Operating Cycle, Sector | ||||||
| Food, Beverage & Tobacco | — | 129 | 131 | 124 | 140 | |
| Operating Cycle, Industry | ||||||
| Consumer Staples | — | 59 | 64 | 55 | 58 | |
Based on: 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), 10-K (reporting date: 2020-12-31).
1 2024 Calculation
Operating cycle = Average inventory processing period + Average receivable collection period
= 63 + 39 = 102
2 Click competitor name to see calculations.
| Short-term activity ratio | Description | The company |
|---|---|---|
| Operating cycle | Equal to average inventory processing period plus average receivables collection period. | Mondelēz International Inc. operating cycle improved from 2022 to 2023 but then deteriorated significantly from 2023 to 2024. |
Average Payables Payment Period
Mondelēz International Inc., average payables payment period calculation, comparison to benchmarks
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data | ||||||
| Payables turnover | 2.35 | 2.67 | 2.67 | 2.60 | 2.60 | |
| Short-term Activity Ratio (no. days) | ||||||
| Average payables payment period1 | 155 | 136 | 137 | 141 | 140 | |
| Benchmarks (no. days) | ||||||
| Average Payables Payment Period, Competitors2 | ||||||
| Coca-Cola Co. | — | 110 | 108 | 109 | 96 | |
| PepsiCo Inc. | 96 | 101 | 97 | 97 | 102 | |
| Philip Morris International Inc. | 108 | 117 | 130 | 121 | 106 | |
| Average Payables Payment Period, Sector | ||||||
| Food, Beverage & Tobacco | — | 113 | 112 | 112 | 110 | |
| Average Payables Payment Period, Industry | ||||||
| Consumer Staples | — | 53 | 57 | 55 | 54 | |
Based on: 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), 10-K (reporting date: 2020-12-31).
1 2024 Calculation
Average payables payment period = 365 ÷ Payables turnover
= 365 ÷ 2.35 = 155
2 Click competitor name to see calculations.
| Short-term activity ratio | Description | The company |
|---|---|---|
| Average payables payment period | An estimate of the average number of days it takes a company to pay its suppliers; equal to the number of days in the period divided by payables turnover ratio for the period. | Mondelēz International Inc. number of days of payables outstanding decreased from 2022 to 2023 but then increased from 2023 to 2024 exceeding 2022 level. |
Cash Conversion Cycle
Mondelēz International Inc., cash conversion cycle calculation, comparison to benchmarks
No. days
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data | ||||||
| Average inventory processing period | 63 | 59 | 61 | 57 | 60 | |
| Average receivable collection period | 39 | 37 | 36 | 30 | 32 | |
| Average payables payment period | 155 | 136 | 137 | 141 | 140 | |
| Short-term Activity Ratio | ||||||
| Cash conversion cycle1 | -53 | -40 | -40 | -54 | -48 | |
| Benchmarks | ||||||
| Cash Conversion Cycle, Competitors2 | ||||||
| Coca-Cola Co. | — | 4 | 8 | 5 | 28 | |
| PepsiCo Inc. | -9 | -12 | -7 | -14 | -10 | |
| Philip Morris International Inc. | 188 | 224 | 230 | 232 | 297 | |
| Cash Conversion Cycle, Sector | ||||||
| Food, Beverage & Tobacco | — | 16 | 19 | 12 | 30 | |
| Cash Conversion Cycle, Industry | ||||||
| Consumer Staples | — | 6 | 7 | 0 | 4 | |
Based on: 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), 10-K (reporting date: 2020-12-31).
1 2024 Calculation
Cash conversion cycle = Average inventory processing period + Average receivable collection period – Average payables payment period
= 63 + 39 – 155 = -53
2 Click competitor name to see calculations.
| Short-term activity ratio | Description | The company |
|---|---|---|
| Cash conversion cycle | A financial metric that measures the length of time required for a company to convert cash invested in its operations to cash received as a result of its operations; equal to average inventory processing period plus average receivables collection period minus average payables payment period. |