Stock Analysis on Net

Mondelēz International Inc. (NASDAQ:MDLZ)

Enterprise Value to FCFF (EV/FCFF)

Microsoft Excel

Free Cash Flow to The Firm (FCFF)

Mondelēz International Inc., FCFF calculation

US$ in millions

Microsoft Excel
12 months ended: Dec 31, 2024 Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020
Net earnings attributable to Mondelēz International 4,611 4,959 2,717 4,300 3,555
Noncontrolling interest earnings 12 9 9 14 14
Net noncash charges 1,105 69 1,469 163 339
Change in assets and liabilities, net of acquisitions and divestitures (818) (323) (287) (336) 56
Net cash provided by operating activities 4,910 4,714 3,908 4,141 3,964
Cash paid, interest, net of tax1 424 420 403 310 263
Capital expenditures (1,387) (1,112) (906) (965) (863)
ROU assets obtained in exchange for lease obligations, finance leases (124) (163) (148) (76) (180)
Free cash flow to the firm (FCFF) 3,823 3,859 3,257 3,410 3,184

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).

Item Description The company
FCFF Free cash flow to the firm is the cash flow available to the Mondelēz International Inc. suppliers of capital after all operating expenses have been paid and necessary investments in working and fixed capital have been made. Mondelēz International Inc. FCFF increased from 2022 to 2023 but then slightly decreased from 2023 to 2024.

Interest Paid, Net of Tax

Mondelēz International Inc., interest paid, net of tax calculation

US$ in millions

Microsoft Excel
12 months ended: Dec 31, 2024 Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020
Effective Income Tax Rate (EITR)
EITR1 23.50% 26.10% 26.80% 27.20% 36.20%
Interest Paid, Net of Tax
Cash paid, interest, before tax 554 568 551 426 413
Less: Cash paid, interest, tax2 130 148 148 116 150
Cash paid, interest, net of tax 424 420 403 310 263

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 See details »

2 2024 Calculation
Cash paid, interest, tax = Cash paid, interest × EITR
= 554 × 23.50% = 130


Enterprise Value to FCFF Ratio, Current

Mondelēz International Inc., current EV/FCFF calculation, comparison to benchmarks

Microsoft Excel
Selected Financial Data (US$ in millions)
Enterprise value (EV) 96,842
Free cash flow to the firm (FCFF) 3,823
Valuation Ratio
EV/FCFF 25.33
Benchmarks
EV/FCFF, Competitors1
Coca-Cola Co. 30.18
PepsiCo Inc. 27.21
Philip Morris International Inc. 23.36
EV/FCFF, Sector
Food, Beverage & Tobacco 28.78
EV/FCFF, Industry
Consumer Staples 40.99

Based on: 10-K (reporting date: 2024-12-31).

1 Click competitor name to see calculations.

If the company EV/FCFF is lower then the EV/FCFF of benchmark then company is relatively undervalued.
Otherwise, if the company EV/FCFF is higher then the EV/FCFF of benchmark then company is relatively overvalued.


Enterprise Value to FCFF Ratio, Historical

Mondelēz International Inc., historical EV/FCFF calculation, comparison to benchmarks

Microsoft Excel
Dec 31, 2024 Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020
Selected Financial Data (US$ in millions)
Enterprise value (EV)1 90,711 121,136 110,903 109,066 95,878
Free cash flow to the firm (FCFF)2 3,823 3,859 3,257 3,410 3,184
Valuation Ratio
EV/FCFF3 23.73 31.39 34.05 31.98 30.11
Benchmarks
EV/FCFF, Competitors4
Coca-Cola Co. 26.54 27.95 25.28 26.04
PepsiCo Inc. 26.33 28.63 40.39 33.08 30.09
Philip Morris International Inc. 22.54 20.71 19.53 16.35 16.31
EV/FCFF, Sector
Food, Beverage & Tobacco 26.10 28.47 24.71 24.26
EV/FCFF, Industry
Consumer Staples 30.26 30.41 20.99 23.37

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 See details »

2 See details »

3 2024 Calculation
EV/FCFF = EV ÷ FCFF
= 90,711 ÷ 3,823 = 23.73

4 Click competitor name to see calculations.

Valuation ratio Description The company
EV/FCFF Enterprise value to free cash flow to the firm is whole company valuation indicator. Mondelēz International Inc. EV/FCFF ratio decreased from 2022 to 2023 and from 2023 to 2024.