Its brand portfolio includes Oreo, Ritz, LU, CLIF Bar, Tate's Bake Shop biscuits and baked snacks, Cadbury Dairy Milk, Milka, and Toblerone chocolate. The company has increased its dividend for 14 consecutive years. However, Mondelez issued a conservative outlook for fiscal 2026 following mixed results for 2025, as high cocoa costs pressured earnings and price-driven sales gains came with decreased volumes.
Cyborg Score Rationale
MDLZ trades at a 20.3x P/E and 2x sales, both below its 5-year averages. An in-depth analysis found no current impact from GLP-1s on Mondelez's volumes, with the observed weakness in North America attributed to economic factors. However, near-term headwinds from weak consumer sentiment and volume declines create execution risk.
Top Insights
For 2026, Mondelez forecasts adjusted earnings-per-share growth of flat to 5% and organic net revenue growth of flat to 2% on a constant currency basis.
In North America, volume/mix decreased 3.7% in Q4 and 2.7% for the full year, indicating structural consumer behavior shifts toward value channels.
The company sees potential for material upside in 2026 if cocoa prices come down due to a supply-demand surplus; if prices remain elevated, additional pricing may be necessary.
Management has been returning significant cash through a $2.3 billion buyback while also putting a universal shelf in place.
Named Competitors
Hershey's — Leading US chocolate and confectionery
Nestlé Confectionery — Global diversified food and beverage conglomerate
Ferrero — Italian confectionery manufacturer with premium brands
Mars — Global manufacturer of chocolate and pet food
Recent Developments
(February 2026) Q4 2025 earnings showed higher sales but lower net income; issued conservative 2026 guidance of flat to 2% organic growth due to cocoa costs and volume declines
(January 2026) Recognized in Newsweek's list of America's Most Responsible Companies 2026
(February 2026) Completed $2.3 billion share repurchase program and established universal shelf registration for capital flexibility
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