Mondelez International (MDLZ)财务
NASDAQ · Consumer Defensive · Food Confectioners · 员工91,000人 · CEO Dirk van de Put
- 股价
- $64.94 +3.85%
- 市值
- $822亿
- 企业价值
- $1030亿
- 最近财报
- Q3 '26 2026-10-29提交
- 下次财报
- 2027-02-02 EPS预期 $0.91
营收(TTM)$399亿+6.0% 对比去年同期最近4个季度;柱状图=各季度
营业利润率(TTM)13.7%+2.5 百分点 对比去年同期营业利润 $54.6亿
净利润(TTM)$40.8亿+15.5% 对比去年同期税后,含营业外收益
自由现金流(TTM)$36.6亿+59.7% 对比去年同期资本支出 $13.5亿
稀释EPS(TTM)$3.17+18.7% 对比去年同期最近4个季度之和
净现金-$207亿-0.7% 对比去年同期现金 + 短期投资 - 债务
估值与关键数据
- 市值
- $822亿 EV $1030亿
- 营收
- $399亿 过去12个月
- 营收增速
- +4% FY2026年一致预期
- 净利润率
- 10.2% 净利润 / 营收,TTM
- P/E
- 20.4× 预期 21.3×(FY2026)
- P/S
- 2.1× 股价 / 营收,TTM
- EV / EBITDA
- 14.1× TTM
- 自由现金流
- $36.6亿 过去12个月
- 净利润
- $40.8亿 过去12个月
- 营收预期
- $400亿 FY2026年一致预期
- 盈利
- 2027-02-02 营收预期 $106亿
- 股息
- $2.02 每股,过去12个月
核心要点
根据披露数据计算,每条结论都附有其依据的数字。
- 最近财报(2026-10-29):营收符合预期,EPS 超预期10.2%营收$99.7亿,预期$99.8亿(-0.2%);EPS $0.78,预期$0.71(+10.2%)。
- 营收增长放缓:同比2.3%Q3 '26营收$99.7亿,此前四个季度的平均值为6.9%。
- 营业利润率13.7%(TTM),较去年同期+2.5 百分点营收增长6.0%,营业利润增长29.9%。
- 资本支出占营收的3.4%(去年为3.4%)最近4个季度投入$13.5亿(同比+4.6%)。自由现金流$36.6亿,相当于净利润的89.7%。
- 股东回报$39.1亿 = 自由现金流的106.9%回购$13.4亿(去年为$30.4亿),股息$25.7亿,股权激励$1.63亿(TTM)。 超过自由现金流:由现金储备或举债支付。
- 稀释股数一年内减少1.2%Q3 '26稀释股数12.8亿,一年前为13亿。
- 净债务 $207亿现金 + 短期投资 $16.3亿,含租赁债务 $223亿;一年前净债务 $206亿。
- Latin America Segment:营收+12.0%,利润率12.3%(此前为11.9%)Q3 '26增长最快的披露分部:营收$13.9亿,营业利润$1.7亿(来自财报的分部附注)。
上一季度:Q3 '26
截至2026-09-30的季度。与去年同期及财报发布前的分析师一致预期对比。
本季度与去年同期
| Q3 '26 | 去年同期 | 变化 | |
|---|---|---|---|
| 营收 | $99.7亿 | $97.4亿 | +2.3% |
| 毛利率 | 39.4% | 26.8% | +12.6 百分点 |
| 营业利润 | $17.6亿 | $7.44亿 | +136.3% |
| 营业利润率 | 17.6% | 7.6% | +10.0 百分点 |
| 净利润 | $13.1亿 | $7.43亿 | +75.6% |
| 稀释EPS | $1.02 | $0.57 | +78.9% |
| 经营现金流 | $12.8亿 | $7.17亿 | +79.1% |
| 资本支出 | $2.93亿 | $2.99亿 | -2.0% |
| 自由现金流 | $9.91亿 | $4.18亿 | +137.1% |
| R&D | $0 | $0 | – |
| 股权激励费用 | $4600万 | $1900万 | +142.1% |
实际 vs 一致预期
2026-10-29| 实际 | 一致预期 | 对比预期 | |
|---|---|---|---|
| 营收 | $99.7亿 | $99.8亿 | -0.2% |
| EPS(一致预期口径) | $0.78 | $0.71 | +10.2% |
来自2026-10-29发布的Q3 '26财报：营收及分析师预期口径的EPS（通常为调整后），可能与上方报表中的EPS不同。
EPS与一致预期
最近8次财报营收
收入从何而来,按业务线和地区逐季展示。
营收、营业利润与增速
季度按业务线划分的营收
堆叠,季度| 分部 | Q3 '26 | 同比 | 占比 | TTM | TTM同比 | 12个季度 |
|---|---|---|---|---|---|---|
| Biscuits | – | – | – | – | – | |
| Biscuits & Baked Snacks | – | – | – | – | – | |
| Chocolate | $30.9亿 | +0.5% | 69.4% | $132亿 | +8.7% | |
| Gum and Candy | $11.5亿 | +9.8% | 25.9% | – | – | |
| Gum & Candy | – | – | – | – | – | |
| Cheese and Grocery | – | – | – | – | – | |
| Meals | – | – | – | – | – | |
| Beverages | $2.08亿 | -4.1% | 4.7% | $9.74亿 | -0.7% |
按地区划分的营收
占总额比例| 分部 | Q3 '26 | 同比 | 占比 | TTM | TTM同比 | 12个季度 |
|---|---|---|---|---|---|---|
| Europe Segment | $35.5亿 | -3.3% | 35.6% | $152亿 | +5.6% | |
| North America Segment | $28.5亿 | +1.1% | 28.6% | $108亿 | +1.0% | |
| Asia, Middle East and Africa Segment | $21.8亿 | +8.2% | 21.9% | $85.4亿 | +10.0% | |
| Latin America Segment | $13.9亿 | +12.0% | 13.9% | $53.7亿 | +11.8% |
分部利润
取自每份10-Q / 10-K分部附注的各披露分部营业利润(多数数据源缺少的利润拆分)。
Q3 '26分部
| 分部 | 营收 | 同比 | 营业利润 | 同比 | 利润率 | 去年同期利润率 | TTM营业利润 |
|---|---|---|---|---|---|---|---|
| Europe Segment | $35.5亿 | -3.3% | $3.39亿 | +23.3% | 9.5% | 7.5% | $15.8亿 |
| North America Segment | $28.5亿 | +1.1% | $4.48亿 | -18.1% | 15.7% | 19.4% | $16.8亿 |
| Asia Middle East And Africa Segment | $21.8亿 | +8.2% | $3.72亿 | +86.9% | 17.0% | 9.9% | $11.2亿 |
| Latin America Segment | $13.9亿 | +12.0% | $1.7亿 | +15.6% | 12.3% | 11.9% | $6.35亿 |
各分部营业利润
季度各分部营业利润率
季度第四季度为推算值:10-K披露全年数据,减去10-Q的前三个季度。
利润率与成本结构
每一单位营收在各层级还剩多少,成本又花在哪里。
利润率
季度成本占营收比例
季度现金流与资本配置
创造了多少现金,用在何处,又有多少回到股东手中。
经营现金流、资本支出、自由现金流
季度现金用途与经营现金流
财年最近4个季度
现金流量表- 经营现金流
- $50亿
- 资本支出
- -$13.5亿
- 股票回购
- -$13.4亿
- 股息
- -$25.7亿
- 收购
- $1.43亿
- 债务净发行
- $1.37亿
- 股权激励费用
- $1.63亿
- 自由现金流
- $36.6亿
- 股东回报 / FCF
- 106.9%
股数与EPS
季度,稀释资产负债表
各季度末的流动性、投资和债务。
现金、投资与债务
季度末估值与回报
当前估值倍数与公司自身过去五个财年对比;分析师目标价与评级。
估值倍数与回报
TTM与过去5个财年| 当前 | 5年均值 | 当前处于5年区间的位置 | |
|---|---|---|---|
| P/E(TTM) | 20.4× | 24.2× | 17.4× – 33.8× |
| EV / EBITDA | 14.1× | 17.6× | 12.0× – 23.8× |
| EV / 营收 | 2.6× | 3.1× | 2.3× – 3.8× |
| 股价 / FCF | 22.5× | 26.3× | 21.5× – 30.6× |
| 股价 / 净资产 | 3.1× | 3.2× | 2.7× – 3.5× |
| FCF收益率 | 4.4% | 3.9% | 3.3% – 4.6% |
| 投入资本回报率 | 7.6% | 6.5% | 4.5% – 9.5% |
| 净资产收益率 | 15.6% | 13.9% | 9.5% – 17.5% |
分析师
一致目标价 $71.50 (+10.1%)
区间 $66.00 – $75.00 · 评级 Buy
强烈买入0
买入33
持有8
卖出2
强烈卖出0
展望
分析师对未来财年的一致预期,以及按当前股价意味着什么。
一致预期
| 财年 | 营收 | 增速 | EPS | 增速 | 按当前股价的P/E | 分析师(EPS) |
|---|---|---|---|---|---|---|
| FY2026 | $400亿 | +3.9% | $3.06 | +61.6% | 21.3× | 12 |
| FY2027 | $410亿 | +2.4% | $3.36 | +10.0% | 19.3× | 12 |
| FY2028 | $423亿 | +3.3% | $3.60 | +7.2% | 18.0× | 5 |
| FY2029 | $441亿 | +4.1% | $3.87 | +7.4% | 16.8× | 1 |
| FY2030 | $440亿 | -0.1% | $4.19 | +8.4% | 15.5× | 1 |
财务报表
利润表、资产负债表和现金流量表的每一项,含12个季度和10个财年,以金额、占营收比例或增速展示。
全部披露项目
Mondelez International, Inc.在近期10-Q / 10-K文件中标记的全部299项数据,附SEC官方标签和定义,包括附注(租赁、税务、回购、员工等)。
| 项目(SEC标签) | 最近季度 | 去年同期 | 同比 | 最近财年 | 上一财年 | 同比 |
|---|---|---|---|---|---|---|
| Accounts Payable, Current | $95.1亿 | $100亿 | -5.1% | $101亿 | $94.3亿 | +7.5% |
| Accounts Receivable, after Allowance for Credit Loss, Current | $49.2亿 | $41.9亿 | +17.4% | $39亿 | $38.7亿 | +0.7% |
| Accounts Receivable, Allowance for Credit Loss, Current | $3200万 | $3900万 | -17.9% | $3500万 | $3700万 | -5.4% |
| Accrued Advertising, Current | $29亿 | $26.5亿 | +9.4% | $27.9亿 | $25.6亿 | +9.0% |
| Accumulated Other Comprehensive Income (Loss), Net of Tax | -$114亿 | -$115亿 | +0.9% | -$114亿 | -$125亿 | +8.9% |
| Additional Paid in Capital, Common Stock | $324亿 | $323亿 | +0.2% | $323亿 | $323亿 | +0.1% |
| Advertising Expense | – | – | – | $16.6亿 | $21.1亿 | -21.6% |
| Allowance for Doubtful Other Receivables, Current | $3500万 | $3700万 | -5.4% | $3500万 | $3700万 | -5.4% |
| Amortization of Intangible Assets | $2600万 | $3200万 | -18.8% | $1.42亿 | $1.53亿 | -7.2% |
| Amount Recognized in Income Due to Inflationary Accounting | $400万 | $900万 | -55.6% | $1000万2011-12-31 | $1.15亿 | -91.3% |
| Asset Impairment Charges | $7600万 | $4600万 | +65.2% | $8500万 | $2.67亿 | -68.2% |
| Assets | $718亿 | $714亿 | +0.6% | $715亿 | $685亿 | +4.4% |
| Assets for Plan Benefits, Defined Benefit Plan | $12.8亿 | $11.3亿 | +13.2% | $12.2亿 | $9.87亿 | +23.6% |
| Assets, Current | $138亿 | $131亿 | +4.9% | $130亿 | $132亿 | -2.2% |
| Business Combination, Acquisition Related Costs | – | – | – | $300万2024-12-31 | $0 | – |
| Capital Expenditures Incurred but Not yet Paid | -$1.26亿 | -$5000万 | -152.0% | $4.81亿 | $4.58亿 | +5.0% |
| Cash and Cash Equivalents, at Carrying Value, Including Discontinued Operations | $16.3亿 | $13.7亿 | +19.1% | $21.3亿 | $13.5亿 | +57.3% |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents | $16.7亿 | $14.7亿 | +13.6% | $22亿 | $14亿 | +56.8% |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect | -$9300万 | -$1.21亿 | +23.1% | $7.95亿 | -$4.84亿 | +264.3% |
| Change in Unrealized Gain (Loss) on Fair Value Hedging Instruments | -$3600万 | $0 | – | – | – | – |
| Change in Unrealized Gain (Loss) on Hedged Item in Fair Value Hedge | $3700万 | $0 | – | $02018-12-31 | $0 | – |
| Common Stock, Capital Shares Reserved for Future Issuance | 6810万2025-12-31 | 7190万 | -5.3% | 6810万 | 7190万 | -5.3% |
| Common Stock, Dividends, Per Share, Declared | $0.52 | $0.50 | +4.0% | $1.94 | $1.79 | +8.4% |
| Common Stock, Shares Authorized | 50亿 | 50亿 | 0.0% | 50亿 | 50亿 | 0.0% |
| Common Stock, Shares, Issued | 20亿 | 20亿 | 0.0% | 20亿 | 20亿 | 0.0% |
| Common Stock, Value, Issued | $0 | $0 | – | $0 | $0 | – |
| Comprehensive Income (Loss), Net of Tax, Attributable to Noncontrolling Interest | $200万 | $200万 | 0.0% | $3900万 | $200万 | +1,850.0% |
| Comprehensive Income (Loss), Net of Tax, Attributable to Parent | $12.3亿 | $8.4亿 | +46.4% | $35.6亿 | $30.9亿 | +15.3% |
| Comprehensive Income (Loss), Net of Tax, Including Portion Attributable to Noncontrolling Interest | $12.3亿 | $8.42亿 | +46.3% | $36亿 | $30.9亿 | +16.5% |
| Cost of Goods and Services Sold | $60.4亿 | $71.3亿 | -15.3% | $276亿 | $222亿 | +24.4% |
| Current Federal Tax Expense (Benefit) | – | – | – | $1.02亿 | $2.68亿 | -61.9% |
| Current Foreign Tax Expense (Benefit) | – | – | – | $6.67亿 | $8.61亿 | -22.5% |
| Current State and Local Tax Expense (Benefit) | – | – | – | -$300万 | $8300万 | -103.6% |
| Debt Instrument, Face Amount | $02026-03-31 | – | – | $30亿2014-01-16 | – | – |
| Deferred Federal Income Tax Expense (Benefit) | – | – | – | $5400万 | $9800万 | -44.9% |
| Deferred Foreign Income Tax Expense (Benefit) | – | – | – | -$4600万 | $1.31亿 | -135.1% |
| Deferred Income Tax Assets, Net | $8200万 | $4.37亿 | -81.2% | $3.36亿 | $3.33亿 | +0.9% |
| Deferred Income Tax Expense (Benefit) | $1.44亿 | -$8900万 | +261.8% | $1600万 | $2.57亿 | -93.8% |
| Deferred Income Tax Liabilities, Net | $35.9亿 | $34.5亿 | +3.9% | $35.3亿 | $34.3亿 | +3.1% |
| Deferred State and Local Income Tax Expense (Benefit) | – | – | – | $800万 | $2800万 | -71.4% |
| Deferred Tax Assets, Capital Loss Carryforwards | $7.52亿2025-12-31 | $6.81亿 | +10.4% | $7.52亿 | $6.81亿 | +10.4% |
| Deferred Tax Assets, Gross | $31.3亿2025-12-31 | $28亿 | +11.9% | $31.3亿 | $28亿 | +11.9% |
| Deferred Tax Assets, Net of Valuation Allowance | $16.8亿2025-12-31 | $15亿 | +11.8% | $16.8亿 | $15亿 | +11.8% |
| Deferred Tax Assets, Operating Loss Carryforwards | $7.52亿2025-12-31 | $6.81亿 | +10.4% | $7.52亿 | $6.81亿 | +10.4% |
| Deferred Tax Assets, Operating Loss Carryforwards, Not Subject to Expiration | $7.21亿2025-12-31 | $6.49亿 | +11.1% | $7.21亿 | $6.49亿 | +11.1% |
| Deferred Tax Assets, Operating Loss Carryforwards, Subject to Expiration | $3100万2025-12-31 | $3200万 | -3.1% | $3100万 | $3200万 | -3.1% |
| Deferred Tax Assets, Tax Credit Carryforwards | $7.73亿2025-12-31 | $7.36亿 | +5.0% | $7.73亿 | $7.36亿 | +5.0% |
| Deferred Tax Assets, Tax Deferred Expense, Compensation and Benefits, Other | $1.68亿2025-12-31 | $1.54亿 | +9.1% | $1.68亿 | $1.54亿 | +9.1% |
| Deferred Tax Assets, Tax Deferred Expense, Compensation and Benefits, Postretirement Benefits | $4400万2025-12-31 | $5000万 | -12.0% | $4400万 | $5000万 | -12.0% |
| Deferred Tax Assets, Tax Deferred Expense, Other | $7.63亿2025-12-31 | $5.27亿 | +44.8% | $7.63亿 | $5.27亿 | +44.8% |
| Deferred Tax Assets, Tax Deferred Expense, Reserves and Accruals, Accrued Liabilities | $6.29亿2025-12-31 | $6.47亿 | -2.8% | $6.29亿 | $6.47亿 | -2.8% |
| Deferred Tax Assets, Valuation Allowance | $14.5亿2025-12-31 | $12.9亿 | +12.2% | $14.5亿 | $12.9亿 | +12.2% |
| Deferred Tax Liabilities, Goodwill and Intangible Assets | $33.1亿2025-12-31 | $30.8亿 | +7.4% | $33.1亿 | $30.8亿 | +7.4% |
| Deferred Tax Liabilities, Gross | $48.8亿2025-12-31 | $46亿 | +6.1% | $48.8亿 | $46亿 | +6.1% |
| Deferred Tax Liabilities, Net | $31.9亿2025-12-31 | $30.9亿 | +3.3% | $31.9亿 | $30.9亿 | +3.3% |
| Deferred Tax Liabilities, Other | $6.8亿2025-12-31 | $6.62亿 | +2.7% | $6.8亿 | $6.62亿 | +2.7% |
| Deferred Tax Liabilities, Property, Plant and Equipment | $8.75亿2025-12-31 | $7.77亿 | +12.6% | $8.75亿 | $7.77亿 | +12.6% |
| Defined Contribution Plan, Cost | – | – | – | $7500万 | $6800万 | +10.3% |
| Depreciation | $2.25亿 | $2.18亿 | +3.2% | $8.53亿 | $8.1亿 | +5.3% |
| Depreciation, Depletion and Amortization, Nonproduction | $3.47亿 | $3.43亿 | +1.2% | $13.6亿 | $13亿 | +4.3% |
来源:SEC companyfacts(每份10-Q / 10-K的XBRL)。现金流量表的季度数据由10-Q标记的年初至今累计数推算。分部拆分带有维度标记,在分部章节中单独展示。
数据来源
报表、分部营收、指标、预期:Financial Modeling Prep。分部利润及全部披露项目:SEC EDGAR(XBRL)。 已读取的文件: 10-Q 2026-09-30, 10-Q 2026-06-30, 10-Q 2026-03-31, 10-K 2025-12-31, 10-Q 2025-09-30, 10-Q 2025-06-30, 10-Q 2025-03-31, 10-K 2024-12-31, 10-Q 2024-09-30
数据截至 2026-11-01