⚡What does Mondelez do, in 30 seconds?
Mondelez makes and sells snacks: chocolate, biscuits and baked snacks at its core, plus gum and candy, cheese and grocery, and powdered drinks 1. Its brands include Oreo, Ritz and Cadbury Dairy Milk 1. It sold $38.5bn ✓ in FY2025, and 76% ✓ of that came from outside the US. Biscuits made up 48% ✓ of sales and chocolate 33% ✓.
📱What does Mondelez sell?
Mondelez has five product categories, and biscuits and chocolate are by far the biggest. Here is what each one is and where it sells best.
Biscuits and baked snacks
Cookies, crackers, salted snacks, snack bars, cakes and pastries, under brands such as Oreo, Ritz, LU, Clif Bar and Tate's Bake Shop 1. This category brought in $18.4bn ✓ in FY2025. North America was its largest region, with $9,331 million of that 3. Mondelez has been adding cakes and pastries, including Oreo cakester line extensions and Milka and Lacta croissants in Europe and Brazil 1.
👥 Snackers buying from supermarkets, club stores, convenience stores and online.
Chocolate
Bars and treats under brands including Cadbury Dairy Milk, Milka and Toblerone 1. Chocolate brought in $12.7bn ✓ in FY2025. Europe was its largest region at $7,799 million, while North America added $436 million 3. Recent new products include chocolate that combines Biscoff with Cadbury Dairy Milk, Milka and other brands in Europe 1.
👥 Chocolate lovers, mostly outside North America.
Gum and candy
Brands include Halls, Stride, Clorets, Maynards Bassetts and Sour Patch Kids 4. This category brought in $4.1bn ✓ in FY2025. Latin America was its largest region, at $1,507 million 3. Mondelez sold its developed market gum business in the United States, Canada and Europe to Perfetti Van Melle in October 2023 3.
👥 Shoppers picking up a small treat or throat sweet.
How the mix has shifted
Where the customers are
Most of Mondelez's sales come from outside the US, at 76% ✓ in FY2025, or $29.2bn ✓. The US added 24% ✓, or $9.3bn ✓. Mondelez manages its business through four regions: Latin America; Asia, Middle East and Africa; Europe; and North America 1. Emerging markets made $12,130 million of its $29,402 million of net revenues in the first nine months of 2026 23.
💸How does Mondelez make money?
Follow the money: what customers pay for, what it costs to make, and what is left as profit.
Mondelez sold $38.5bn ✓ of snacks and other food in FY2025. Making those products cost $27.6bn ✓. What is left is gross profit, the money kept after paying for what was sold. That came to $10.9bn ✓.
Next come the costs of running the company. Research and development took $0.4bn ✓, and sales, marketing and admin, not counting research, took $6.8bn ✓. Other operating costs took $0.2bn ✓. What remains is operating profit, the profit from the main business, which was $3.5bn ✓. Items outside the main business, such as interest costs and other income, came to -$0.3bn ✓, a net cost. Tax took $0.8bn ✓. That left net income of $2.5bn ✓. Put simply, out of every hundred dollars of sales, Mondelez kept about $6 ✓ as profit.
Out of every $100 customers paid in FY2025…
⏱️ Mondelez by the clock
Spread the FY2025 totals evenly over its 365 days and you get this. Source: Mondelez International, Inc. 10-K [5].
📈How is Mondelez doing?
Mondelez sold more in FY2025 but kept far less of it as operating profit. Sales rose 5.8% ✓ to $38.5bn ✓. Organic net revenue rose 4.3%, as higher net pricing more than offset lower volume and mix 20. Mondelez says volume and mix were unfavorable in every region, reflecting how consumers reacted to price rises and softness in biscuits and baked snacks 20.
Operating margin fell from 17.4% ✓ in FY2024 to 9.2% ✓ in FY2025. Mondelez says the main drivers were unfavorable mark-to-market changes on derivatives, lower adjusted margin, unfavorable acquisition-related items and higher ERP costs 20. Net income was $2.5bn ✓, and free cash flow was $3.2bn ✓.
The latest four quarters show a higher margin. In the four quarters to 30 September 2026, sales were $39.9bn ✓, up 6.0% ✓ on the four quarters before. Operating margin over those four quarters was 13.7% ✓, and free cash flow was $3.7bn ✓. In the third quarter of 2026, net revenues rose 2.3%, organic net revenue rose 2.1%, and volume and mix added 1.8 percentage points 23. Reported operating margin in that quarter jumped from 7.6% to 17.6%, and Mondelez says this came mainly from a favorable swing in mark-to-market on derivatives and higher adjusted margin 2321.
Mondelez's business changed shape in FY2015 and FY2016. It stopped consolidating coffee revenue from July 2015 18. Its 2015 results still held $1,217 million of net revenues from Venezuela, before those subsidiaries left the accounts starting in 2016 11. Mondelez says both changes significantly affect year-to-year comparisons 11. Since then, sales were $25.9bn ✓ in FY2016 and still $25.9bn ✓ in FY2019. They reached $38.5bn ✓ in FY2025. That later figure includes bought businesses such as Chipita 6 and Clif Bar 6, and it leaves out the developed market gum business sold in 2023 3.
📝 The report card
Mondelez earns middle marks for growth and profit, a good mark for steadiness, and low marks for cash and its balance sheet. Every company is graded on the same fixed scale, so an A means the same thing on every page. The strip shows where Mondelez (orange) and its 4 peers land; further right is better.
Growth
Mondelez's sales grew 7.0% ✓ a year over its last three fiscal years, which earns a C ✓. That stretch includes deals: Clif Bar joined in August 2022 6, Ricolino in November 2022 6, and the developed market gum business was sold in October 2023 3. Hershey grew 3.9% ✓ a year over its own last three fiscal years, a D ✓.
Why this measure? (higher is better)
Growing sales is the engine of a business. Mature giants rarely grow fast, so 5% a year already earns a C.
Profitability
Over the last three years combined, Mondelez kept 13.9% ✓ of sales as operating profit, a C ✓. Hershey kept more at 20.3% ✓, a B ✓, while PepsiCo kept a little less at 13.1% ✓. FY2025 alone was much lower, at 9.2% ✓.
Why this measure? (higher is better)
Operating margin is the share of each sales dollar left after running the business. Software and platforms often clear 30%; hardware makers usually sit below 10%.
Cash generation
Over the last three years combined, Mondelez turned 9.3% ✓ of sales into free cash flow, a D ✓. Hershey turned 15.6% ✓ into free cash flow, a B ✓, and the peer median was 11.9% ✓.
Why this measure? (higher is better)
Free cash flow is the cash left after paying for factories, data centres and equipment. It funds dividends, buybacks and new bets.
Balance sheet
At the end of FY2025, Mondelez's cash and investments minus its borrowings (leases not counted) equalled -46.0% ✓ of a year's sales, an F ✓. In dollars, net cash was -$17.7bn ✓ at that date, meaning more borrowings than cash. Hershey, at -38.3% ✓, also earns an F ✓.
Why this measure? (higher is better)
More cash than debt gives a company room to ride out bad years. Some debt is normal; a lot of it makes a company fragile.
Steadiness
Mondelez's yearly growth rates swing with a standard deviation of 7.3% ✓, which earns a B ✓. That measure includes FY2016's growth of -12.5% ✓, and Mondelez says coffee leaving in 2015 and Venezuela leaving from 2016 significantly affect year-to-year comparisons 11.
Why this measure? (lower is better)
Steady growers are easier to plan around. Big swings mean sales depend on product cycles, the economy or one-off events.
🧑🏫 How the grades work
- Same scale for everyone. Each measure has fixed cut-offs (shown under each strip). Clear the A line and you get an A, whatever your peers do.
- Three years together. Profitability and cash generation add up the last three fiscal years before dividing, so one unusual year counts for less than it would on its own (a year much bigger than the others still weighs most).
- Peers for context. The rank shows how Mondelez compares with the group. Companies within 0.1 percentage point share a rank.
- Same source. Every company's figures come from its own latest annual report (10-K), so fiscal years end in different months.
- Judgement, openly stated. The cut-offs are QuantVantage.ai's view of what good looks like for a large, established company. They are not a forecast or a recommendation.
11 years at a glance
Where the cash goes
Over the 11 fiscal years from FY2015 to FY2025, Mondelez handed back more cash than its free cash flow. It spent $42.4bn ✓ on buybacks and dividends, against $30.9bn ✓ of free cash flow. In FY2025 alone, payouts equalled 151% ✓ of free cash flow. In the first nine months of 2026, it generated $1.7 billion of free cash flow and returned $2.8 billion to shareholders 23.
🧮Ratios 101: what are Mondelez's key financial ratios?
Ratios shrink Mondelez's big numbers into easy comparisons. Coffee left its accounts in July 2015 18, and Mondelez says the coffee and Venezuela changes significantly affect year-to-year comparisons of its results 11. A ratio divides one number by another so companies of any size can be compared. Each card shows the formula with Mondelez's real FY2025 numbers, the peer median and the trend.
💰 Profitability: how much of each sale is kept?
Gross margin
What is left from each sale after paying to make the product or deliver the service.
👉 At 28.4% ✓, Mondelez is below the 33.6% ✓ peer median and down from 39.1% ✓ in FY2024.
📏 Rule of thumb: Above 40% usually signals pricing power or a big software or services mix.
Operating margin
What is left after also paying for research, marketing and running the company.
👉 Mondelez's 9.2% ✓ is a little above the 8.5% ✓ peer median, but well below its own 17.4% ✓ of FY2024. Mondelez says the main drivers of that fall were unfavorable mark-to-market changes on derivatives, lower adjusted margin, unfavorable acquisition-related items and higher ERP costs 20.
📏 Rule of thumb: Above 20% is strong for a large company.
Net margin
The bottom line: profit after interest and taxes, per dollar of sales.
👉 Mondelez keeps 6.4% ✓ of sales as final profit, above the 3.5% ✓ peer median.
📏 Rule of thumb: Above 15% is strong; one-off tax items can move it in a single year.
Return on equity (ROE)
Profit earned for each dollar that shareholders have left in the company.
👉 ROE of 9.5% ✓ is close to the 8.9% ✓ peer median, on shareholders' equity of $25.8bn ✓.
📏 Rule of thumb: Around 15% or more is good, but buybacks shrink equity and can make ROE look huge.
⚙️ Efficiency: how hard do the assets work?
Return on assets (ROA)
Profit earned from everything the company owns, however it was paid for.
👉 ROA of 3.4% ✓ is just above the 3.1% ✓ peer median.
📏 Rule of thumb: Above 10% is strong; banks and factories usually earn less.
Asset turnover
Dollars of sales squeezed out of each dollar of assets.
👉 Mondelez's sales are 0.5x ✓ the value of everything it owns, below the 0.7x ✓ peer median.
📏 Rule of thumb: Retailers often top 2x; asset-heavy businesses can sit below 0.5x.
Inventory days
How many days of products sit in warehouses before they are sold.
👉 Mondelez holds 58 ✓ days of stock, a little below the peer median of 62 ✓ days.
📏 Rule of thumb: Fewer days means less cash tied up and less risk of products going stale.
🛟 Safety: could it survive a bad year?
Current ratio
Can short-term assets (cash, money owed by customers, stock) pay the bills due within a year?
👉 Mondelez's 0.6x ✓ means bills due within a year were larger than short-term assets: $21.9bn ✓ against $13.0bn ✓. The peer median is 1.0x ✓.
📏 Rule of thumb: Above 1.0x is the classic comfort line, but cash-rich giants can run below it on purpose.
Debt to equity
How much the company has borrowed for each dollar shareholders have in it.
👉 Mondelez's 0.8x ✓ is well below the 1.5x ✓ peer median.
📏 Rule of thumb: Below 1.0x is conservative. Like ROE, it can rise when buybacks shrink equity, even if debt has not changed.
Interest cover
How many times over operating profit could pay the year's interest bill.
👉 Operating profit covered interest 5.9x ✓, above the 4.0x ✓ peer median.
📏 Rule of thumb: Above 5x is comfortable; below 2x is a warning sign.
💵 Cash and owners: where does the money end up?
Cash conversion
Does reported profit turn into real cash? Free cash flow is operating cash minus capital spending.
👉 Mondelez turned profit into free cash at 1.3x ✓, above PepsiCo's 0.9x ✓ but below Hershey's 2.1x ✓.
📏 Rule of thumb: Near or above 1.0x means profits are backed by cash.
R&D intensity
How much of each sales dollar goes into inventing future products.
👉 Mondelez spends 1.0% ✓ of sales on R&D, a little above the 0.8% ✓ peer median.
📏 Rule of thumb: Tech companies often spend 10% to 20%; more is not always better if it does not pay off.
Stock pay
Pay given to staff in shares instead of cash. It is a real cost to owners because it adds shares.
👉 Stock pay is 0.3% ✓ of sales, a little below the 0.4% ✓ peer median.
📏 Rule of thumb: Under 5% of sales is modest for a tech company.
Shareholder payout
How much of the year's profit was handed back to owners.
👉 Mondelez paid out 198.8% ✓ of FY2025 profit, compared with 104.8% ✓ at PepsiCo and 122.9% ✓ at Hershey. It also paid out 151% ✓ of its free cash flow.
📏 Rule of thumb: Above 100% means it returned more than it earned, using cash savings or debt.
Ratios use fiscal-year-end balance sheet values. Inputs are shown rounded, so dividing them can differ from the result in the last digit. A peer median leaves out peers that do not report the inputs, or where the ratio means nothing (for example, negative shareholders' equity). Rules of thumb are general guides from QuantVantage.ai, not hard limits. No share-price ratios (like price-to-earnings) are shown on this page.
🥊Who are Mondelez's competitors?
Mondelez competes with other snack and food makers, and the overlap differs by category. PepsiCo names Mondelez as a competitor and both sell snacks worldwide 121314. Hershey also sells chocolate 315, and General Mills also sells snack bars 616417. Kraft Heinz shares its Kraft Foods roots 184193.
| Company | Where they compete | Revenue | Growth/yr (3y) | Op. margin | FCF margin |
|---|---|---|---|---|---|
| Mondelez (MDLZ, FY2025) | Chocolate, biscuits and baked snacks, plus gum and candy, cheese and grocery, and powdered drinks 1 | $38.5bn | 7.0% | 9.2% | 8.4% |
| PepsiCo (PEP, FY2025) | Snacks worldwide: PepsiCo centers on savory brands such as Lay's and Doritos 121314 | $93.9bn | 2.8% | 12.2% | 8.2% |
| Hershey (HSY, FY2025) | Chocolate: Hershey calls itself the largest producer of quality chocolate in North America, where Mondelez's chocolate made $436 million in 2025 315 | $11.7bn | 3.9% | 12.3% | 15.6% |
| General Mills (GIS, FY2026 to May 2026) | Snack bars: Nature Valley, Fiber One and Lärabar against Clif Bar and Perfect Snacks 616417 | $18.4bn | -2.9% | 4.8% | 8.8% |
| Kraft Heinz (KHC, FY2025) | Shared Kraft Foods roots and the Philadelphia name; Kraft Heinz lists Philadelphia among its main North American trademarks, and Mondelez's cheese and grocery category had no North American net revenues in 2025 184193 | $24.9bn | -2.0% | -18.7% | 14.7% |
Mondelez's performance peer group of market competitors and other companies also includes Nestle and Danone 20. Mondelez says new distribution channels and external manufacturing lower barriers to entry and let smaller competitors gain share more effectively 22.
🧭Mondelez SWOT: strengths, weaknesses, opportunities and threats
💪 Strengths
- Mondelez says its global footprint, scale and brands have helped build market-leading positions across most of its categories 1.
- Mondelez sells its products in over 150 countries 1, and 76% ✓ of FY2025 sales came from outside the US.
- No single customer made up 10% or more of net revenues in 2025 1.
- Sales grew 7.0% ✓ a year over the three fiscal years to FY2025, ahead of Hershey's 3.9% ✓, with deals included in that growth 63.
🩹 Weaknesses
- Mondelez says its 2025 price rises reduced consumer demand, particularly in the United States and Europe 20.
- Over the last three years combined, Mondelez turned 9.3% ✓ of sales into free cash flow, a D ✓.
- At the end of FY2025, net cash was -$17.7bn ✓, meaning more borrowings than cash.
- In the third quarter of 2026, it recorded $64 million of impairment charges on two European and one North American biscuit and baked snack brands 21.
🚀 Opportunities
- Emerging markets grew 4.9% organically in the first nine months of 2026, against 0.8% in developed markets 23.
- On 29 October 2026, Mondelez agreed to buy a majority stake in Undercover Snacks, a US maker of crunchy quinoa crisps 2321.
- Mondelez has been expanding cakes and pastries, including Milka and Lacta croissants in Europe and Brazil 1.
- Its SnackFutures hub invents new brands and invests in early-stage snack entrepreneurs 1.
⚠️ Threats
- Mondelez expects cocoa costs to stay elevated compared with history in the near and medium term, and warns it may not be able to raise prices enough to cover them 21.
- Mondelez says cocoa supply is exposed to climate, plant health, rules in producing countries and global rules such as the EU Deforestation Regulation 21.
- Its retail customers are consolidating and forming buying alliances, and it says rapid growth at discounters and online could lower consumer prices 22.
- Governments have adopted or are considering rules on front-of-pack nutrition labeling, limits on advertising some foods, packaging taxes and single-use plastic bans 1.
🏰Does Mondelez have a moat?
Why 4?
Mondelez says its brands, scale and global footprint have helped build market-leading positions across most of its categories 1. Its brands include Oreo, Ritz and LU 1, and Cadbury Dairy Milk, Milka and Toblerone 1. Most of its indefinite-life brands came from buying Nabisco Holdings, Groupe Danone's LU biscuit business, Cadbury and Clif Bar 3. Yet Mondelez says its 2025 price rises reduced consumer demand, particularly in the United States and Europe 20. At 30 September 2026, six brand intangibles carried at a total of $1.6 billion had fair value less than 10% above book value 21.
Why 1?
Mondelez warns that large retailers can delist its products, cut their shelf space, demand lower prices and offer their own branded and private label products 22. It also says new distribution channels and external manufacturing lower barriers to entry and let smaller competitors gain share more effectively 22.
Why 1?
Mondelez sells through supermarkets, club stores, convenience stores, e-retail platforms and its own websites 1, and one shopper buying a snack does nothing for the next shopper.
Why 3?
At 31 December 2025, Mondelez had about 145 manufacturing and processing facilities in 49 countries 1. It lowered manufacturing costs through productivity in 2025 even as raw material costs rose 20. Its performance peer group of market competitors and other companies includes Nestle, Hershey and PepsiCo 20.
Why 3?
Mondelez says its trademarks, patents, recipes and other intellectual property are material to its business, though losing one patent or a group of related patents would not have a material adverse effect 1. After the 2012 spin-off, Mondelez and Kraft Foods Group each granted the other licences to use certain intellectual property in named places 1.
A moat is what keeps rivals from taking a company's customers and profits. Scores are QuantVantage.ai's judgement (5 = strongest), set with the same rubric on every explainer (orange is Mondelez; grey dots are peers).
🔭What should you watch next?
2026 outlook
Mondelez's outlook calls for organic net revenue growth of at least 2%, adjusted earnings per share growth of flat to 5% at constant currency, and free cash flow of about $3 billion 23.
Undercover Snacks deal
Mondelez expects its purchase of a majority stake in Undercover Snacks to close in the first quarter of 2027, subject to regulatory approval 21.
Share buybacks
About $5.8 billion of capacity was left in the share repurchase program at 30 September 2026 21.
📚Learn the words
❓Frequently asked questions about Mondelez
How does Mondelez make money?
Most of Mondelez's sales come from biscuits and chocolate. In FY2025, biscuits brought in $18.4bn ✓ and chocolate $12.7bn ✓. Gum and candy, cheese and grocery, and powdered drinks make up the rest.
Is Mondelez the same company as Kraft?
Mondelez used to be called Kraft Foods Inc. 318. On 1 October 2012 it spun off its North American grocery business as Kraft Foods Group and kept its global snacks business 18. Kraft Heinz was formed in 2015 when Kraft Foods Group merged with H.J. Heinz 1819.
Does Mondelez still hold its coffee investments?
No, Mondelez no longer holds its former coffee investments, after selling its remaining JDE Peet's shares in the fourth quarter of 2024 20. It sold those shares to JAB for €2.2 billion ($2.3 billion) 20. Its coffee businesses had gone into Jacobs Douwe Egberts in July 2015 18.
Who makes Cadbury chocolate in the United States?
Hershey holds a licence from Cadbury UK Limited to make and sell Cadbury products in the United States 15. Mondelez combined with Cadbury Limited in 2010 18.
Did Mondelez try to buy Hershey?
Yes, Mondelez made a preliminary takeover approach, and Hershey's board unanimously rejected it 2425. Hershey confirmed this on 30 June 2016, and Mondelez said on 29 August 2016 that it had ended talks 2425.
Is Mondelez still growing?
Yes, Mondelez's sales are still growing. Sales rose 5.8% ✓ in FY2025. In the four quarters to 30 September 2026, they were up 6.0% ✓ on the four quarters before. In the third quarter of 2026, organic net revenue rose 2.1% 23.
Why does cocoa matter so much to Mondelez?
Cocoa is one of the raw materials Mondelez buys in large quantities 1, and chocolate made up 33% ✓ of its FY2025 sales. Cocoa costs were lower in 2026 than a year earlier, but Mondelez expects them to stay above historical levels in the near and medium term 21.
Does Mondelez pay a dividend?
Yes, Mondelez paid $2.5bn ✓ in dividends in FY2025. It also spent $2.4bn ✓ on buybacks that year.
🎮Play: higher or lower, then test yourself
Figures come from each company's latest annual report (10-K); fiscal years end in different months. Sources: [5] [8] [7] [9] [10].
🧠 Test yourself
5 quick questions. Score: 0 / 5
1. Which category brought in the most sales for Mondelez in FY2025?
2. About how much of Mondelez's FY2025 sales came from outside the US?
3. Which of these snacks is a PepsiCo brand?
4. Which company rejected a takeover approach from Mondelez in 2016?
5. What business did Mondelez spin off in 2012?
🔎Sources and method
Every figure comes from a source listed here or is calculated from those sources (marked ✓). Company financials come from the reports each company files with the SEC (10-K annual and 10-Q quarterly reports). Peer grades rank the same measures across the company and its peers. This page contains no share-price data and no valuation.
- Mondelez International Form 10-K for 2025 — Item 1: general, strategy, footprint, segments, customers, distribution, competition, IP, regulation, employees, officers (accessed 2026-11-08)
- Mondelez (MDLZ) Form 10-K for fiscal year 2025, filed 2026-02-04 — revenue and cost of sales by product, segment and geography (accessed 2026-11-04)
- Mondelez International Form 10-K for 2025 — Notes: incorporation, advertising and R&D expense, acquisitions and divestitures, net revenue by product category and region (accessed 2026-11-08)
- Mondelez International: our brands — Brand list by category (accessed 2026-11-08)
- SEC EDGAR companyfacts: Mondelez (MDLZ) — annual 10-K facts (accessed 2026-11-04)
- Mondelez International Form 10-K for 2022 — Chipita, Clif Bar and Ricolino acquisitions, planned gum and Halls divestitures, Clif Bar earn-out years (accessed 2026-11-08)
- SEC EDGAR companyfacts: HERSHEY CO (HSY) — annual 10-K facts (accessed 2026-11-04)
- SEC EDGAR companyfacts: PEPSICO INC (PEP) — annual 10-K facts (accessed 2026-11-04)
- SEC EDGAR companyfacts: GENERAL MILLS INC (GIS) — annual 10-K facts (accessed 2026-11-04)
- SEC EDGAR companyfacts: Kraft Heinz Co (KHC) — annual 10-K facts (accessed 2026-11-04)
- Mondelez International Form 10-K for 2016 — Keurig transaction, revenue change in 2015 and 2016, coffee revenue impact, Venezuelan net revenues (accessed 2026-11-08)
- PepsiCo Form 10-K for fiscal year 2025 — Item 1 competition: named competitors, US liquid refreshment share, bases of competition (accessed 2026-11-08)
- PepsiCo Form 10-K for fiscal year 2025 — Item 1 overview, incorporation, countries and the six reportable segments (accessed 2026-11-08)
- Mondelez International Form 10-K for fiscal year 2025 — Item 1 core business and snack categories (accessed 2026-11-08)
- The Hershey Company Form 10-K for 2025 — Business description, segments, Cadbury licence (accessed 2026-11-08)
- Mondelez International Form 10-K for 2020 — Give & Go, Perfect Snacks, Middle East and Africa cheese sale, Hu, JDE Peet's offering, one-quarter lag recast (accessed 2026-11-08)
- General Mills Form 10-K for fiscal 2026 — North America Retail categories, trademarks, competition (accessed 2026-11-08)
- Mondelez International Form 10-K for 2015 — Spin-off of Kraft Foods Group, former name, Cadbury 2010, coffee business transactions, Venezuela deconsolidation, Vietnam biscuit operation (accessed 2026-11-08)
- The Kraft Heinz Company Form 10-K for 2025 — 2015 merger, trademarks by segment (accessed 2026-11-08)
- Mondelez International Form 10-K for 2025 — Item 7 MD&A: recent developments, JDE Peet's and Keurig Dr Pepper transactions, ERP programme, European Commission matter, results, performance peer group (accessed 2026-11-08)
- Mondelez International Form 10-Q for the quarter ended September 30, 2026 — Undercover Snacks agreement, restructuring, brand impairments, share repurchase programme, tariffs, cocoa, Russia, Ukraine, Middle East, Clif Bar earn-out (accessed 2026-11-08)
- Mondelez International Form 10-K for 2025 — Item 1A risk factors: competition, channels, retail customers, intellectual property (accessed 2026-11-08)
- Mondelez International Q3 2026 earnings release (8-K Exhibit 99.1, October 29, 2026) — Q3 and year-to-date results by region, 2026 outlook, capital return (accessed 2026-11-08)
- The Hershey Company Form 8-K filed June 30, 2016 — Rejected approach from Mondelez (accessed 2026-11-08)
- Mondelez International Form 8-K filed August 29, 2016 — End of talks with The Hershey Company (accessed 2026-11-08)
- SEC EDGAR companyfacts: Mondelez (MDLZ) — quarterly 10-Q/10-K facts (accessed 2026-11-04)
- Mondelez International Form 8-K filed October 29, 2026 — Cover page: state of incorporation, principal executive offices (accessed 2026-11-08)
- Mondelez International Form 10-K for 2017 — CEO succession (accessed 2026-11-08)
- Mondelez International Form 8-K filed June 18, 2026 — Appointment of Amit Banati as CFO; Chair and CEO title (accessed 2026-11-08)
- SEC EDGAR companyfacts: Mondelez (MDLZ) — balance sheet at 2026-09-30 (accessed 2026-11-04)