Mondelez International (MDLZ) FY2020 results: revenue $26.6 billion, up 2.8% on the year
Mondelez International, Inc. (MDLZ) reported revenue of $26.6 billion for fiscal 2020, the year ended 31 December 2020, up 2.8% on the year before. Net income was $3.6 billion, down 9.5%, and diluted earnings per share $2.47. The figures are the company's own, from the 10-K it filed with the SEC on 5 February 2021.
Revenue
$26.6 billion
+2.8% on the year
FY2013FY2020
Operating margin
14.5%
14.9% a year earlier
FY2013FY2020
Net income
$3.6 billion
-9.5% on the year
FY2013FY2020
Diluted EPS
$2.47
-8.2% on the year
FY2013FY2020
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Revenue
26,581
25,868
25,938
+2.8%
Cost of revenue
16,135
15,531
15,586
+3.9%
Gross profit
10,446
10,337
10,352
+1.1%
Gross margin
39.3%
40.0%
39.9%
Research and development
332
351
362
-5.4%
Selling, general and administrative
6,098
6,136
6,475
-0.6%
Operating income
3,853
3,843
3,312
+0.3%
Operating margin
14.5%
14.9%
12.8%
Interest expense
423
484
462
-12.6%
Pre-tax income
3,383
3,447
2,842
-1.9%
Income tax
1,224
2.0
773
+61,100.0%
Effective tax rate
36.2%
0.1%
27.2%
Net income
3,555
3,929
3,317
-9.5%
Net margin
13.4%
15.2%
12.8%
Diluted EPS
$2.47
$2.69
$2.23
-8.2%
$ 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
FY2020
FY2019
FY2018
On the year
Last 8 years
Operating cash flow
3,964
3,965
3,948
-0.0%
Capital expenditure
863
925
1,095
-6.7%
Free cash flow
3,101
3,040
2,853
+2.0%
Free cash flow margin
11.7%
11.8%
11.0%
Cash from investing
500
-960
-1,224
Cash from financing
-2,215
-2,787
-2,329
Depreciation and amortisation
1,116
1,047
811
+6.6%
Share-based compensation
126
135
128
-6.7%
Buybacks
1,390
1,480
2,020
-6.1%
Dividends paid
1,678
1,542
1,359
+8.8%
Diluted shares, weighted
1,441m
1,458m
1,486m
-1.2%
Balance sheet
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Shareholders' equity
27,578
27,275
25,637
+1.1%
Non-controlling interest
76.0
76.0
76.0
0.0%
Debt
20,046
18,426
18,372
+8.8%
Operating lease liabilities
470
403
0.0
+16.6%
Finance lease liabilities
182
91.0
n/a
+100.0%
Other liabilities
19,458
18,278
18,644
+6.5%
Total liabilities and equity
67,810
64,549
62,729
+5.1%
Fixed assets
n/a
n/a
8,482
Goodwill
21,895
20,848
20,725
+5.0%
Intangible assets
18,482
17,957
18,002
+2.9%
Cash and equivalents
3,650
1,328
1,100
+174.8%
Receivables
2,297
2,212
2,262
+3.8%
Inventory
2,647
2,546
2,592
+4.0%
Other assets
18,839
19,658
9,566
-4.2%
Total assets
67,810
64,549
62,729
+5.1%
10-K for the year ended 31 December 2020, filed 5 February 2021: the filing.