Mondelez International, Inc. (MDLZ)

Executive Summary

Mondelez International is one of the largest pure-play snacking companies in the world, the owner of Oreo, Cadbury, Milka, Ritz, belVita, Toblerone and Trident, generating roughly $38.5 billion of revenue across more than 150 countries. We at T&T Capital Management view the current setup as a classic case of a high-quality, wide-moat business being penalized for a transitory input-cost shock. A two-year surge in cocoa prices has compressed reported margins and dragged adjusted EPS down roughly 15% in 2025, and the stock has de-rated from the low-$70s toward $63.

What’s Inside The Full Report

• 15-year financial summary table — revenue, net income, GAAP & adjusted EPS
• Valuation framework — current multiples vs. 5-year historical range
• Peer comparison table — multiples, margins, balance-sheet metrics
• Base case, bull case, bear case price targets with explicit math
• Competitive position and economic moat analysis
• Management and capital allocation track record
• Balance sheet review — leverage, credit ratings, distribution coverage
• Insider activity — recent open-market buys / sells with interpretation
• Strategic acquisitions and divestitures history
• Sell-side consensus and where TTCM differs
• Detailed risk factors specific to the name
• Bull case and forward catalysts to watch
• TTCM rating with explicit ADD / TRIM price triggers