# Mondelez International (MDLZ) Forecast Calculator

Interactive five-year financial forecast and DCF for Mondelez International. Adjust revenue growth, margins, capex, and WACC to update revenue, free cash flow, and enterprise value.

- Canonical: https://finamodel.com/companies/mondelez-international/forecast
- Industry: Staples
- Forecast start year: 2026

## Historical data

| Year | Revenue | Free cash flow | EBITDA | Net income |
|---:|---:|---:|---:|---:|
| 2021 | 25868000000 | 3040000000 | 4890000000 | 3929000000 |
| 2022 | 26581000000 | 3101000000 | 4969000000 | 3555000000 |
| 2023 | 28720000000 | 3176000000 | 5766000000 | 4300000000 |
| 2024 | 31496000000 | 3002000000 | 4641000000 | 2717000000 |
| 2025 | 36016000000 | 3602000000 | 6717000000 | 4959000000 |

## Frequently asked questions

### What does Mondelez International do and what are its main products?

Mondelez International is a global snacking leader that manufactures and markets biscuits, chocolate, gum, candy, and various cheese and grocery products. The company holds dominant competitive positions, ranking number one in biscuits with brands like Oreo and Ritz, and number two in chocolate with Cadbury and Milka.

### How does Mondelez International generate its revenue?

Mondelez's revenue is driven by a combination of volume/mix growth, net pricing actions, foreign exchange impacts, and acquisition/divestiture activities across its geographic segments. Growth is primarily influenced by strategic pricing to offset commodity inflation, while emerging markets contribute structural volume growth.

### What are the key capital expenditure assumptions for Mondelez International's financial model?

Capital expenditure for Mondelez is typically assumed to be 3.5% to 4.0% of revenue, with approximately 60% allocated to maintenance and compliance, and 40% to growth and productivity enhancements. A significant ongoing program is the $1.2 billion ERP systems transformation, which requires substantial capitalized software and hardware investment.

### How does Mondelez International's working capital profile impact its cash flow?

Mondelez operates with a consistently negative net working capital as a percentage of revenue, typically ranging from -5% to -10%. This negative working capital profile indicates the company effectively uses supplier financing, such as extended payables, to fund its daily operations, providing a structural cash flow advantage.

### Can I download a financial model for Mondelez International and what is its forecast horizon?

Yes, a comprehensive equity valuation and scenario planning Excel model for Mondelez International is available for download. This model provides forecasts for the fiscal years FY2026 through FY2030, allowing analysts to assess the impact of various factors on the company's financials.

### What are the primary factors affecting Mondelez International's operating margins?

Mondelez's operating margins are significantly impacted by volatile agricultural commodity prices, particularly cocoa, and the company's ability to implement strategic pricing to offset these costs. The ongoing $1.2 billion ERP transformation program also influences operating margins and free cash flow.