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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- Income Statement
- Balance Sheet: Assets
- Analysis of Liquidity Ratios
- Analysis of Short-term (Operating) Activity Ratios
- Enterprise Value to EBITDA (EV/EBITDA)
- Return on Assets (ROA) since 2005
- Debt to Equity since 2005
- Price to Earnings (P/E) since 2005
- Price to Sales (P/S) since 2005
- Aggregate Accruals
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Historical Valuation Ratios (Summary)
Mondelēz International Inc., historical price multiples (quarterly data)
Based on: 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), 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).
- Price to Earnings (P/E) Ratio
- The Price to Earnings ratio exhibits considerable fluctuation over the observed periods. Starting at 22.62, it declined to a low of 19.22 by September 2021, then gradually increased to reach a peak of 33.07 in December 2022. Following this peak, the P/E ratio generally declined with intermittent rises, ending at 22 by the last period. This volatility indicates varying market sentiment regarding the company's earnings, with an overall trend of elevated valuation around late 2022 and a moderated valuation thereafter.
- Price to Operating Profit (P/OP) Ratio
- The Price to Operating Profit ratio shows a pattern similar to the P/E ratio but with generally lower peaks. Starting near 20, it fluctuated moderately before peaking at 25.48 in March 2023. Post peak, a pronounced decline occurred, with values dropping to as low as 11.71 by December 2024, signaling a significant contraction in market valuation relative to operating profit. The ratio partially recovered to around 19.54 by September 2025 but remained below earlier highs, suggesting cautious market optimism towards operating profitability.
- Price to Sales (P/S) Ratio
- This ratio demonstrated a mild downward trend over the entire period. Beginning at 3.15, it declined gradually with some fluctuations to reach around 2.06 by September 2025. This steady decrease reflects a reduction in market valuation relative to sales, possibly indicating pressure on sales growth or investor expectations becoming more conservative about revenue prospects.
- Price to Book Value (P/BV) Ratio
- The Price to Book Value ratio displayed moderate volatility with an initial value of 3.16 rising to peaks above 3.6 in early 2024 and 3.65 in December 2023. Subsequently, it declined to a low of 2.76 by December 2024 but partially recovered to near 3.3 by mid-2025 before dipping again slightly. These movements indicate shifts in market perception of the company's net asset value, with periods of optimism followed by reassessments leading to valuation adjustments.
Price to Earnings (P/E)
Mondelēz International Inc., historical P/E calculation (quarterly data)
| 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 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 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: 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), 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).
1 Data adjusted for splits and stock dividends.
2 Q3 2025 Calculation
EPS
= (Net earnings attributable to Mondelēz InternationalQ3 2025
+ Net earnings attributable to Mondelēz InternationalQ2 2025
+ Net earnings attributable to Mondelēz InternationalQ1 2025
+ Net earnings attributable to Mondelēz InternationalQ4 2024)
÷ No. shares of common stock outstanding
= ( + + + )
÷ =
3 Closing price as at the filing date of Mondelēz International Inc. Quarterly or Annual Report.
4 Q3 2025 Calculation
P/E ratio = Share price ÷ EPS
= ÷ =
5 Click competitor name to see calculations.
The analysis of the periodic financial indicators reveals several key trends and patterns over the observed quarters.
- Share Price
- The share price experienced fluctuations with an overall volatile trend. Initially, the share price increased from approximately $60.88 to a peak of $76.87 toward the end of 2023. However, after this peak, the share price declined significantly, reaching around $57.43 by the end of 2024, followed by partial recovery and subsequent declines towards $60.21 by the third quarter of 2025. This behavior indicates considerable variability in market sentiment and suggests intermittent investor reactions possibly linked to company performance or broader market conditions.
- Earnings Per Share (EPS)
- The EPS displayed a pattern of variability without a clear sustained upward or downward trajectory. It reached a high point in late 2021 and again at the end of 2023, with values close to or exceeding $3.50. Notably, there was a dip in EPS in late 2022 to below $2.00, indicating a period of weaker earnings. Subsequently, EPS partially recovered but remained variable with values mostly in the $2.70 to $3.50 range. This oscillation suggests fluctuating profitability influenced by changing operational conditions.
- Price-to-Earnings (P/E) Ratio
- The P/E ratio showed significant variation, starting around 22.62 in early 2021, fluctuating with peaks and troughs that correspond inversely with movements in EPS and share price. It reached a high of over 33 in December 2022 indicating high market valuation relative to earnings at that time, followed by a notable decline to 16.11 in December 2024. The P/E ratio then increased again, ending at 22.00 in the third quarter of 2025. These shifts may reflect changing investor expectations regarding growth prospects or risk assessment of the company.
Overall, the financial data suggest that while earnings remain somewhat stable but variable, the market price and valuation multiples have shown more pronounced fluctuations. The decoupling observed at certain periods between EPS and share price points to investor sentiment and external factors playing a significant role in pricing beyond fundamental earnings performance.
Price to Operating Profit (P/OP)
Mondelēz International Inc., historical P/OP calculation (quarterly data)
| Sep 30, 2025 | Jun 30, 2025 | Mar 31, 2025 | Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| No. shares of common stock outstanding1 | |||||||||||||||||||||||||
| Selected Financial Data (US$) | |||||||||||||||||||||||||
| 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: 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), 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).
1 Data adjusted for splits and stock dividends.
2 Q3 2025 Calculation
Operating profit per share
= (Operating incomeQ3 2025
+ Operating incomeQ2 2025
+ Operating incomeQ1 2025
+ Operating incomeQ4 2024)
÷ No. shares of common stock outstanding
= ( + + + )
÷ =
3 Closing price as at the filing date of Mondelēz International Inc. Quarterly or Annual Report.
4 Q3 2025 Calculation
P/OP ratio = Share price ÷ Operating profit per share
= ÷ =
5 Click competitor name to see calculations.
- Share Price Trends
- The share price exhibited notable fluctuations over the observed period. Beginning at $60.88 in the first quarter of 2021, it generally trended upwards with intermittent declines, reaching a peak of $76.87 by the end of 2023. Following this peak, the price experienced a decline with volatility, dropping to $57.43 by the fourth quarter of 2024, before partially recovering to $69.71 in the third quarter of 2025 and then declining again to $60.21 at the end of the period. This pattern indicates periods of investor optimism interspersed with volatility and decreasing confidence in the latter stages.
- Operating Profit per Share (OPPS) Dynamics
- Operating profit per share showed a general upward trend across the timeframe. Starting at $3.05 in the first quarter of 2021, the metric gradually increased with some short-term variability, reaching $4.91 by the final quarter of 2024. In 2025, a decline occurred, with OPPS falling to $3.26 in the third quarter and stabilizing thereafter. The growth in operating profit per share through 2024 suggests improved operational efficiency or profitability, but the decline in 2025 may indicate emerging challenges or market pressures affecting earnings.
- Price to Operating Profit Ratio (P/OP)
- The P/OP ratio demonstrated significant variation during the period. Initially near 20, it dipped slightly before spiking to 25.43 by the end of 2022, suggesting that share prices were higher relative to operating profits—potentially indicating overvaluation or anticipated future growth. Subsequently, the ratio decreased sharply to 11.71 in late 2024, implying a period when operating profits were relatively high compared to the share price, or the market pricing became more conservative. Towards the end of the timeline, the ratio reverted upward towards approximately 18, reflecting moderate market valuation relative to operating profit. These fluctuations highlight shifts in market sentiment and valuation multiples over time.
- Overall Insights
- The interplay between the share price, operating profit per share, and their ratio illustrates a complex financial environment. While operating profitability grew steadily through much of the timeframe, the share price reflected greater volatility, influenced by broader market conditions or company-specific factors. The period of a sharply reduced P/OP ratio around 2024 suggests a relative undervaluation or stronger earnings performance, whereas higher ratios in other periods indicate heightened market expectations or premium valuations. These patterns suggest that while operational fundamentals improved, market perception and investor confidence experienced fluctuations, potentially linked to external macroeconomic factors or internal strategic developments.
Price to Sales (P/S)
Mondelēz International Inc., historical P/S calculation (quarterly data)
| 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 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 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: 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), 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).
1 Data adjusted for splits and stock dividends.
2 Q3 2025 Calculation
Sales per share
= (Net revenuesQ3 2025
+ Net revenuesQ2 2025
+ Net revenuesQ1 2025
+ Net revenuesQ4 2024)
÷ No. shares of common stock outstanding
= ( + + + )
÷ =
3 Closing price as at the filing date of Mondelēz International Inc. Quarterly or Annual Report.
4 Q3 2025 Calculation
P/S ratio = Share price ÷ Sales per share
= ÷ =
5 Click competitor name to see calculations.
The share price exhibited fluctuations throughout the observed periods, with initial growth from approximately $61 to a peak near $77, followed by a decline towards $60 by the end of the timeline. This pattern suggests volatility with intermittent gains and losses over time.
Sales per share showed a consistent upward trend across the quarters, increasing steadily from about $19.3 to over $29. This indicates growth in revenue generated on a per-share basis, reflecting positive performance in sales activities over the examined periods.
The price-to-sales ratio (P/S) demonstrated a general decline from above 3.1 to near 2.0 towards the end. Despite some short-term recoveries, the overall downward trajectory implies that the market valuation per unit of sales has decreased, signaling a shift in investor sentiment or changes in pricing relative to sales growth.
- Share Price
- Volatile with peaks and troughs; initial growth followed by a decline nearing the start value.
- Sales per Share
- Consistent and steady increase throughout the periods, indicating robust sales growth.
- Price-to-Sales Ratio (P/S)
- Gradual decrease over time, suggesting a reduction in market valuation relative to sales.
Price to Book Value (P/BV)
Mondelēz International Inc., historical P/BV calculation (quarterly data)
| Sep 30, 2025 | Jun 30, 2025 | Mar 31, 2025 | Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| No. shares of common stock outstanding1 | |||||||||||||||||||||||||
| Selected Financial Data (US$) | |||||||||||||||||||||||||
| 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: 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), 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).
1 Data adjusted for splits and stock dividends.
2 Q3 2025 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 Q3 2025 Calculation
P/BV ratio = Share price ÷ BVPS
= ÷ =
5 Click competitor name to see calculations.
The analysis of quarterly financial data reveals several notable trends in the company's share price, book value per share (BVPS), and price-to-book value (P/BV) ratio over the observed periods.
- Share Price
- The share price exhibits volatility with cyclical fluctuations across quarters. Initially, there is an upward movement from $60.88 to $67.02 within 2021, followed by a slight decline and stabilization around the low $60s during mid-2022. A significant increase is seen in early 2023, reaching a peak of $76.87 at the end of 2023, after which the price declines sharply to a low of $57.43 in the final quarter of 2024. Subsequent quarters show partial recovery but with continued instability, ending at $60.21 in the third quarter of 2025. This indicates periods of strong market performance interspersed with corrections, suggesting sensitivity to broader market conditions or company-specific events.
- Book Value Per Share (BVPS)
- BVPS displays a relatively stable and gradually increasing trend over the examined timeframe. Starting from $19.27 in the first quarter of 2021, it advances consistently, reaching $21.23 by the end of 2023. Post-2023, BVPS shows minor fluctuations but generally hovers around the $20 to $21 range, concluding at $20.29 in the third quarter of 2025. The stability and slight growth in BVPS suggest steady accumulation of equity and retained earnings, reflecting a consistent underlying asset base despite market volatility.
- Price-to-Book Value (P/BV) Ratio
- The P/BV ratio mirrors the share price volatility while considering changes in BVPS. Starting at 3.16, the ratio increases modestly to 3.34 by the end of 2022, indicating that the market value was rising faster than book value during this period. The ratio peaks at 3.65 in late 2023, coinciding with the share price high, and then declines substantially to 2.76 by the end of 2024, reflecting the sharp share price drop and stable book value. The ratio fluctuates thereafter, reaching 3.44 in mid-2025 before falling again to 2.97. These movements suggest varying market sentiment and valuation pressures, with periods of premium valuation over book value followed by notable discounts possibly due to market corrections or changes in investor expectations.
Overall, the data indicates that while the company’s intrinsic value represented by book value per share remains stable and increases slightly, the market valuation represented by share price and P/BV ratio is subject to considerable fluctuation. This pattern points to external influences impacting investor sentiment and share price volatility more significantly than fundamental changes in book equity.