Mondelez International (MDLZ) FY2019 results: revenue $25.9 billion, down 0.3% on the year
Mondelez International, Inc. (MDLZ) reported revenue of $25.9 billion for fiscal 2019, the year ended 31 December 2019, down 0.3% on the year before. Net income was $3.9 billion, up 18.5%, and diluted earnings per share $2.69. The figures are the company's own, from the 10-K it filed with the SEC on 7 February 2020.
Revenue
$25.9 billion
-0.3% on the year
FY2012FY2019
Operating margin
14.9%
12.8% a year earlier
FY2012FY2019
Net income
$3.9 billion
+18.5% on the year
FY2012FY2019
Diluted EPS
$2.69
+20.6% on the year
FY2012FY2019
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Revenue
25,868
25,938
25,896
-0.3%
Cost of revenue
15,531
15,586
15,862
-0.4%
Gross profit
10,337
10,352
10,034
-0.1%
Gross margin
40.0%
39.9%
38.7%
Research and development
351
362
366
-3.0%
Selling, general and administrative
6,136
6,475
5,938
-5.2%
Operating income
3,843
3,312
3,462
+16.0%
Operating margin
14.9%
12.8%
13.4%
Interest expense
484
462
396
+4.8%
Pre-tax income
3,447
2,842
3,124
+21.3%
Income tax
2.0
773
666
-99.7%
Effective tax rate
0.1%
27.2%
21.3%
Net income
3,929
3,317
2,828
+18.5%
Net margin
15.2%
12.8%
10.9%
Diluted EPS
$2.69
$2.23
$1.85
+20.6%
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Operating cash flow
3,965
3,948
2,593
+0.4%
Capital expenditure
925
1,095
1,014
-15.5%
Free cash flow
3,040
2,853
1,579
+6.6%
Free cash flow margin
11.8%
11.0%
6.1%
Cash from investing
-960
-1,224
-301
Cash from financing
-2,787
-2,329
-3,361
Depreciation and amortisation
1,047
811
816
+29.1%
Share-based compensation
135
128
137
+5.5%
Buybacks
1,480
2,020
2,174
-26.7%
Dividends paid
1,542
1,359
1,198
+13.5%
Dividend per share
n/a
n/a
$0.82
Diluted shares, weighted
1,458m
1,486m
1,531m
-1.9%
Balance sheet
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Shareholders' equity
27,275
25,637
25,994
+6.4%
Non-controlling interest
76.0
76.0
80.0
0.0%
Debt
18,426
18,372
17,652
+0.3%
Operating lease liabilities
403
0.0
n/a
Finance lease liabilities
91.0
n/a
n/a
Other liabilities
18,278
18,644
19,231
-2.0%
Total liabilities and equity
64,549
62,729
62,957
+2.9%
Fixed assets
n/a
8,482
8,677
Goodwill
20,848
20,725
21,085
+0.6%
Intangible assets
17,957
18,002
18,639
-0.2%
Cash and equivalents
1,328
1,100
761
+20.7%
Receivables
2,212
2,262
2,691
-2.2%
Inventory
2,546
2,592
2,557
-1.8%
Other assets
19,658
9,566
8,547
+105.5%
Total assets
64,549
62,729
62,957
+2.9%
10-K for the year ended 31 December 2019, filed 7 February 2020: the filing.