General Mills vs Mondelez International
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The short version
- Mondelez International is the larger business, with $38.5B of revenue in fiscal 2025 against $18.4B for General Mills, about 2.1 times as much.
- Mondelez International grew revenue faster (5.8%, against −5.5%).
- Mondelez International kept more of each dollar of sales as operating profit (9.2% operating margin, against 4.8%).
- Mondelez International earned a higher return on the capital invested in it (6.0%, against 2.0%).
| Latest fiscal year | GIS · FY26 | MDLZ · FY25 |
|---|---|---|
| Size | ||
| Market cap | $18.5B | $82.0B |
| Revenue | $18.4B | $38.5B |
| Free cash flow | $1.6B | $3.2B |
| Net income | −$87.6M | $2.5B |
| Growth | ||
| Revenue growth | −5.5% | 5.8% |
| 5-year growth | 0.3% | 7.7% |
| Share count change | −3.6% | −3.6% |
| Profitability | ||
| Gross margin | 33.6% | 28.4% |
| Operating margin | 4.8% | 9.2% |
| Net margin | −0.5% | 6.4% |
| FCF margin | 8.8% | 8.4% |
| Return on capital | 2.0% | 6.0% |
| Return on equity | −1.1% | 9.3% |
| Balance sheet | ||
| Net debt | $13.1B | $19.0B |
| Net debt / EBITDA | 9.1x | 3.9x |
| Dividends and buybacks | $1.8B | $4.9B |
| Valuation & quality | ||
| P/E | — | 31.6x |
| Piotroski F-score | 5 | 5 |
Revenue
FY17
GIS $15.6B
MDLZ $25.9B
FY18
GIS $15.7B
MDLZ $25.9B
FY19
GIS $16.9B
MDLZ $25.9B
FY20
GIS $17.6B
MDLZ $26.6B
FY21
GIS $18.1B
MDLZ $28.7B
FY22
GIS $19.0B
MDLZ $31.5B
FY23
GIS $20.1B
MDLZ $36.0B
FY24
GIS $19.9B
MDLZ $36.4B
FY25
GIS $19.5B
MDLZ $38.5B
FY26
GIS $18.4B
MDLZ —
GIS
MDLZ
Operating margin
FY17
GIS 16.0%
MDLZ 13.4%
FY18
GIS 15.4%
MDLZ 12.8%
FY19
GIS 14.9%
MDLZ 14.9%
FY20
GIS 16.8%
MDLZ 14.5%
FY21
GIS 17.4%
MDLZ 16.2%
FY22
GIS 18.3%
MDLZ 11.2%
FY23
GIS 17.1%
MDLZ 15.3%
FY24
GIS 17.3%
MDLZ 17.4%
FY25
GIS 17.0%
MDLZ 9.2%
FY26
GIS 4.8%
MDLZ —
GIS
MDLZ
Free cash flow
FY17
GIS $1.7B
MDLZ $1.6B
FY18
GIS $2.2B
MDLZ $2.9B
FY19
GIS $2.3B
MDLZ $3.0B
FY20
GIS $3.2B
MDLZ $3.1B
FY21
GIS $2.5B
MDLZ $3.2B
FY22
GIS $2.7B
MDLZ $3.0B
FY23
GIS $2.1B
MDLZ $3.6B
FY24
GIS $2.5B
MDLZ $3.5B
FY25
GIS $2.3B
MDLZ $3.2B
FY26
GIS $1.6B
MDLZ —
GIS
MDLZ
Return on capital
FY17
GIS 13.5%
MDLZ 6.5%
FY18
GIS 13.3%
MDLZ 5.6%
FY19
GIS 9.6%
MDLZ 8.8%
FY20
GIS 11.6%
MDLZ 5.6%
FY21
GIS 11.9%
MDLZ 7.7%
FY22
GIS 13.3%
MDLZ 5.6%
FY23
GIS 12.7%
MDLZ 8.7%
FY24
GIS 12.5%
MDLZ 10.9%
FY25
GIS 11.5%
MDLZ 6.0%
FY26
GIS 2.0%
MDLZ —
GIS
MDLZ
Each company's latest fiscal year; fiscal years end in different months. The best value in each row is highlighted where higher (or lower) is clearly better. Not investment advice.