Common Stock Valuation Ratios (Price Multiples)
Quarterly Data
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).
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- Balance Sheet: Liabilities and Stockholders’ Equity
- Common-Size Balance Sheet: Liabilities and Stockholders’ Equity
- Analysis of Profitability Ratios
- Analysis of Solvency Ratios
- Analysis of Short-term (Operating) Activity Ratios
- Analysis of Reportable Segments
- Current Ratio since 2005
- Debt to Equity since 2005
- Price to Earnings (P/E) since 2005
- Price to Operating Profit (P/OP) since 2005
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Historical Valuation Ratios (Summary)
Mondelēz International Inc., historical price multiples (quarterly data)
Based on: 10-Q (reporting date: 2026-06-30), 10-Q (reporting date: 2026-03-31), 10-K (reporting date: 2025-12-31), 10-Q (reporting date: 2025-09-30), 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).
The valuation metrics demonstrate a period of significant volatility in earnings-based multiples coupled with a steady contraction in revenue-based valuation. While profitability ratios experienced sharp fluctuations, the price-to-sales ratio showed a consistent long-term decline over the analyzed period.
- Price to Earnings (P/E) Ratio
- The P/E ratio exhibits substantial variance, starting at 21.13 in March 2022 and climbing to a peak of 33.07 by December 2022. A notable correction followed, with the ratio reaching a periodic low of 16.11 in December 2023. A subsequent recovery phase led to another peak of 31.07 in December 2025, before settling at 22.68 by June 2026.
- Price to Operating Profit (P/OP) Ratio
- Closely mirroring the P/E trend, the P/OP ratio showed significant instability. After reaching a high of 25.48 in March 2023, the ratio fell sharply to its lowest point of 11.71 in December 2023. It rebounded to 21.46 in December 2025, ultimately ending the period at 17.92.
- Price to Sales (P/S) Ratio
- A persistent downward trajectory is observed in the P/S ratio, which decreased from 3.03 in March 2022 to 2.01 by June 2026. This steady contraction suggests a reduction in the market premium attributed to the company's top-line revenue generation over time.
- Price to Book Value (P/BV) Ratio
- The P/BV ratio remained relatively stable compared to the profitability multiples, though it experienced a general decline in the latter half of the period. The ratio peaked at 3.65 in December 2023 before dropping to a low of 2.76 in December 2024, eventually closing the period at 2.99.
Price to Earnings (P/E)
Mondelēz International Inc., historical P/E calculation (quarterly data)
| Jun 30, 2026 | Mar 31, 2026 | Dec 31, 2025 | Sep 30, 2025 | 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 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| No. shares of common stock outstanding1 | ||||||||||||||||||||||||
| Selected Financial Data (US$) | ||||||||||||||||||||||||
| Net earnings attributable to Mondelēz International (in millions) | ||||||||||||||||||||||||
| Earnings per share (EPS)2 | ||||||||||||||||||||||||
| Share price1, 3 | ||||||||||||||||||||||||
| Valuation Ratio | ||||||||||||||||||||||||
| P/E ratio4 | ||||||||||||||||||||||||
| Benchmarks | ||||||||||||||||||||||||
| P/E Ratio, Competitors5 | ||||||||||||||||||||||||
| Coca-Cola Co. | ||||||||||||||||||||||||
| PepsiCo Inc. | ||||||||||||||||||||||||
| Philip Morris International Inc. | ||||||||||||||||||||||||
Based on: 10-Q (reporting date: 2026-06-30), 10-Q (reporting date: 2026-03-31), 10-K (reporting date: 2025-12-31), 10-Q (reporting date: 2025-09-30), 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).
1 Data adjusted for splits and stock dividends.
2 Q2 2026 Calculation
EPS
= (Net earnings attributable to Mondelēz InternationalQ2 2026
+ Net earnings attributable to Mondelēz InternationalQ1 2026
+ Net earnings attributable to Mondelēz InternationalQ4 2025
+ Net earnings attributable to Mondelēz InternationalQ3 2025)
÷ No. shares of common stock outstanding
= ( + + + )
÷ =
3 Closing price as at the filing date of Mondelēz International Inc. Quarterly or Annual Report.
4 Q2 2026 Calculation
P/E ratio = Share price ÷ EPS
= ÷ =
5 Click competitor name to see calculations.
The valuation of the common stock exhibits notable volatility over the observed period, characterized by fluctuating price-to-earnings (P/E) ratios driven by the interplay between inconsistent earnings per share (EPS) and variable market pricing.
- Price-to-Earnings Ratio Trends
- The P/E ratio demonstrates a wide range of fluctuation, peaking at 33.07 in December 2022 and reaching a minimum of 16.11 in December 2024. While the ratio frequently stabilizes within the 20 to 25 range, periodic deviations indicate significant shifts in market valuation relative to actual earnings.
- Impact of Earnings Per Share (EPS)
- Earnings performance shows cyclicality, with significant troughs recorded in December 2022 (1.99) and December 2025 (1.91). These earnings declines correlate directly with spikes in the P/E ratio, specifically the increases to 33.07 and 31.07 respectively, suggesting that the market price remained relatively resilient despite the drop in profitability.
- Share Price and Valuation Correlation
- The share price reached its peak in December 2023 at 76.87, which coincided with a moderate P/E ratio of 20.87 due to strong concurrent EPS of 3.68. Conversely, the lowest valuation multiple of 16.11 occurred in December 2024, triggered by a sharp decrease in share price to 57.43 despite a high EPS of 3.56, indicating a period of compression in the valuation multiple.
- Recent Valuation Trajectory
- Following a sharp rise in the P/E ratio to 31.07 in December 2025, a corrective trend is observed through the first half of 2026. The ratio descended to 28.80 in March 2026 and further normalized to 22.68 by June 2026, aligning with a recovery in EPS to 2.75.
Price to Operating Profit (P/OP)
Mondelēz International Inc., historical P/OP calculation (quarterly data)
| Jun 30, 2026 | Mar 31, 2026 | Dec 31, 2025 | Sep 30, 2025 | 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 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| No. shares of common stock outstanding1 | ||||||||||||||||||||||||
| Selected Financial Data (US$) | ||||||||||||||||||||||||
| Operating income (in millions) | ||||||||||||||||||||||||
| Operating profit per share2 | ||||||||||||||||||||||||
| Share price1, 3 | ||||||||||||||||||||||||
| Valuation Ratio | ||||||||||||||||||||||||
| P/OP ratio4 | ||||||||||||||||||||||||
| Benchmarks | ||||||||||||||||||||||||
| P/OP Ratio, Competitors5 | ||||||||||||||||||||||||
| Coca-Cola Co. | ||||||||||||||||||||||||
| PepsiCo Inc. | ||||||||||||||||||||||||
| Philip Morris International Inc. | ||||||||||||||||||||||||
Based on: 10-Q (reporting date: 2026-06-30), 10-Q (reporting date: 2026-03-31), 10-K (reporting date: 2025-12-31), 10-Q (reporting date: 2025-09-30), 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).
1 Data adjusted for splits and stock dividends.
2 Q2 2026 Calculation
Operating profit per share
= (Operating incomeQ2 2026
+ Operating incomeQ1 2026
+ Operating incomeQ4 2025
+ Operating incomeQ3 2025)
÷ No. shares of common stock outstanding
= ( + + + )
÷ =
3 Closing price as at the filing date of Mondelēz International Inc. Quarterly or Annual Report.
4 Q2 2026 Calculation
P/OP ratio = Share price ÷ Operating profit per share
= ÷ =
5 Click competitor name to see calculations.
The Price to Operating Profit (P/OP) ratio exhibits significant volatility over the period from March 2022 to June 2026, characterized by a pronounced peak in early 2023 and a sharp contraction in late 2024, followed by a period of stabilization.
- Share Price Dynamics
- The share price followed an inconsistent trajectory, reaching a peak of 76.87 US$ in December 2023 before experiencing a decline to a period low of 57.43 US$ in December 2024. Following this trough, the price recovered moderately, oscillating between 58.54 US$ and 69.71 US$ through 2025 and early 2026, ending the period at 62.48 US$.
- Operating Profit per Share (OPPS) Trends
- Operating profit per share demonstrated a strong growth phase between March 2022 and March 2024, rising from 3.23 US$ to a peak of 5.01 US$. A subsequent contraction occurred throughout 2025, with the value descending to 2.77 US$ by September 2025. A recovery trend emerged in the final two quarters, with the profit per share climbing back to 3.49 US$ by June 2026.
- P/OP Ratio Analysis
- The P/OP ratio reached its maximum of 25.48 in March 2023, reflecting a period where the market valuation significantly exceeded the operating profit. This was followed by a steady compression, reaching a minimum of 11.71 in December 2024. This sharp decline coincided with a drop in share price while operating profit per share remained relatively high (4.91 US$), indicating a period of valuation undervaluation or market correction. In the final phase from March 2025 to June 2026, the ratio stabilized, moving within a range of 17.92 to 21.46, suggesting a realignment between the stock price and the company's operating performance.
Price to Sales (P/S)
Mondelēz International Inc., historical P/S calculation (quarterly data)
| Jun 30, 2026 | Mar 31, 2026 | Dec 31, 2025 | Sep 30, 2025 | Jun 30, 2025 | Mar 31, 2025 | Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| No. shares of common stock outstanding1 | ||||||||||||||||||||||||
| Selected Financial Data (US$) | ||||||||||||||||||||||||
| Net revenues (in millions) | ||||||||||||||||||||||||
| Sales per share2 | ||||||||||||||||||||||||
| Share price1, 3 | ||||||||||||||||||||||||
| Valuation Ratio | ||||||||||||||||||||||||
| P/S ratio4 | ||||||||||||||||||||||||
| Benchmarks | ||||||||||||||||||||||||
| P/S Ratio, Competitors5 | ||||||||||||||||||||||||
| Coca-Cola Co. | ||||||||||||||||||||||||
| PepsiCo Inc. | ||||||||||||||||||||||||
| Philip Morris International Inc. | ||||||||||||||||||||||||
Based on: 10-Q (reporting date: 2026-06-30), 10-Q (reporting date: 2026-03-31), 10-K (reporting date: 2025-12-31), 10-Q (reporting date: 2025-09-30), 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).
1 Data adjusted for splits and stock dividends.
2 Q2 2026 Calculation
Sales per share
= (Net revenuesQ2 2026
+ Net revenuesQ1 2026
+ Net revenuesQ4 2025
+ Net revenuesQ3 2025)
÷ No. shares of common stock outstanding
= ( + + + )
÷ =
3 Closing price as at the filing date of Mondelēz International Inc. Quarterly or Annual Report.
4 Q2 2026 Calculation
P/S ratio = Share price ÷ Sales per share
= ÷ =
5 Click competitor name to see calculations.
The valuation of the company through the Price-to-Sales (P/S) ratio demonstrates a clear long-term contraction from March 2022 through June 2026. While sales per share maintained a consistent upward trajectory, the share price experienced significant volatility and an eventual decline, resulting in a sustained compression of the P/S multiple.
- Sales Performance Trends
- A sustained and linear increase in sales per share is observed, rising from 21.13 US$ in March 2022 to 31.09 US$ by June 2026. This growth indicates a steady expansion in top-line efficiency per share throughout the entire analyzed period.
- Share Price Volatility
- The share price exhibited fluctuation between 2022 and 2023, reaching a peak of 76.87 US$ in December 2023. Following this peak, a general downward trend occurred throughout 2024 and 2025, with the price hitting a low of 58.54 US$ in March 2026 before a modest recovery to 62.48 US$ by June 2026.
- P/S Ratio Compression
- The P/S ratio peaked at 3.06 in March 2023 but declined progressively to a minimum of 1.91 in March 2026. This movement indicates that the market valuation of each dollar of sales has diminished over time. The divergence between the rising sales per share and the falling P/S ratio suggests that the depreciation in share price has outpaced the gains in revenue growth, leading to a lower valuation multiple.
Price to Book Value (P/BV)
Mondelēz International Inc., historical P/BV calculation (quarterly data)
| Jun 30, 2026 | Mar 31, 2026 | Dec 31, 2025 | Sep 30, 2025 | 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 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| No. shares of common stock outstanding1 | ||||||||||||||||||||||||
| Selected Financial Data (US$) | ||||||||||||||||||||||||
| Total Mondelēz International shareholders’ equity (in millions) | ||||||||||||||||||||||||
| Book value per share (BVPS)2 | ||||||||||||||||||||||||
| Share price1, 3 | ||||||||||||||||||||||||
| Valuation Ratio | ||||||||||||||||||||||||
| P/BV ratio4 | ||||||||||||||||||||||||
| Benchmarks | ||||||||||||||||||||||||
| P/BV Ratio, Competitors5 | ||||||||||||||||||||||||
| Coca-Cola Co. | ||||||||||||||||||||||||
| PepsiCo Inc. | ||||||||||||||||||||||||
| Philip Morris International Inc. | ||||||||||||||||||||||||
Based on: 10-Q (reporting date: 2026-06-30), 10-Q (reporting date: 2026-03-31), 10-K (reporting date: 2025-12-31), 10-Q (reporting date: 2025-09-30), 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).
1 Data adjusted for splits and stock dividends.
2 Q2 2026 Calculation
BVPS = Total Mondelēz International shareholders’ equity ÷ No. shares of common stock outstanding
= ÷ =
3 Closing price as at the filing date of Mondelēz International Inc. Quarterly or Annual Report.
4 Q2 2026 Calculation
P/BV ratio = Share price ÷ BVPS
= ÷ =
5 Click competitor name to see calculations.
The Price to Book Value (P/BV) ratio exhibits moderate volatility between March 2022 and June 2026, driven primarily by fluctuations in the market share price while the underlying book value per share remained relatively constant.
- Book Value Stability
- The book value per share (BVPS) demonstrated high stability throughout the analyzed period, maintaining a narrow range between a minimum of 19.51 USD in September 2022 and a peak of 21.23 USD in March 2024. This consistency indicates a stable equity foundation with minimal volatility in the net asset value per share over the four-year span.
- Share Price Dynamics
- Market valuation shifted more aggressively than the book value. The share price reached a peak of 76.87 USD in December 2023 before experiencing a notable contraction to 57.43 USD by December 2024. A subsequent recovery period followed, with the price stabilizing between 58.54 USD and 62.48 USD from March 2026 through June 2026.
- P/BV Ratio Trends
- The P/BV ratio closely tracked the movement of the share price. An upward trend was evident through 2023, culminating in a peak ratio of 3.65 in December 2023. A significant compression occurred in December 2024, where the ratio dropped to its period low of 2.76. From 2025 through June 2026, the ratio entered a phase of relative stabilization, oscillating within a tight band between 2.92 and 2.99, indicating a normalized valuation multiple compared to the peaks observed in 2023.