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Mondelez International cash flow, quarter by quarter

Latest: Q3 2026 · from the cash-flow statements filed with the SEC

Free cash flow$991M in Q3 2026 · $3.7B over twelve months

Operating cash flow$1.3B
Capital spending−$293M
Free cash flow+$991M
Cash / net income1.0×
Cash conversion cycle-35 days

Analysis

In Q3 2026, Mondelez International generated $1.3B of operating cash flow and spent $293M on capital projects, leaving free cash flow of $991M. That is $573M more than in Q3 2025 ($418M).

Over the twelve months to Sep 30, 2026, operating cash flow was $5.0B; the largest uses were dividends ($2.6B), capital spending ($1.3B), buybacks ($1.3B); besides operations, cash came from other financing ($231M), net borrowing (+) / repaid (−) ($224M); the cash balance rose by $200M.

Operating cash flow was $1.3B against net income of $1.3B — 1.0× profit, roughly in line with earnings. The largest differences: receivables −$788M, other liabilities +$648M, depreciation & amortization +$347M.

Its cash conversion cycle was -35 days (receivables 41 + inventory 67 − payables 144): suppliers fund its working capital.

Free cash flow

Mondelez International: free cash flow by quarterMondelez International: free cash flow by quarter$1.1BQ4 2024$815MQ1 2025$3.0MQ2 2025$418MQ3 2025$2.0BQ4 2025$155MQ1 2026$513MQ2 2026$991MQ3 2026
Operating cash flow less capital spending.
Mondelez International: operating cash flow against capital spendingMondelez International: operating cash flow against capital spendingOperating cash flowCapital spending$1.5B$405MQ4 2024$1.1B$277MQ1 2025$308M$305MQ2 2025$717M$299MQ3 2025$2.4B$398MQ4 2025$467M$312MQ1 2026$855M$342MQ2 2026$1.3B$293MQ3 2026
Latest (Q3 2026): Operating cash flow $1.3B, Capital spending $293M.

Capital allocation, year by year

Mondelez International: where the cash came from (up) and went (down), by fiscal yearMondelez International: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingShares issuedAsset salesCapital spendingAcquisitionsBuybacksDividendsFY2021: Operating cash flow $4.1BFY2021: Net borrowing −$414MFY2021: Shares issued $206MFY2021: Asset sales $214MFY2021: Capital spending −$965MFY2021: Acquisitions −$833MFY2021: Buybacks −$2.1BFY2021: Dividends −$1.8B$4.6BFY2021FY2022: Operating cash flow $3.9BFY2022: Net borrowing $1.4BFY2022: Shares issued $158MFY2022: Asset sales $45.0MFY2022: Capital spending −$906MFY2022: Acquisitions −$5.3BFY2022: Buybacks −$2.0BFY2022: Dividends −$2.0B$5.5BFY2022FY2023: Operating cash flow $4.7BFY2023: Net borrowing −$2.3BFY2023: Shares issued $152MFY2023: Asset sales $19.0MFY2023: Capital spending −$1.1BFY2023: Acquisitions $19.0MFY2023: Buybacks −$1.5BFY2023: Dividends −$2.2B$4.9BFY2023FY2024: Operating cash flow $4.9BFY2024: Net borrowing −$1.0BFY2024: Shares issued $175MFY2024: Asset sales $16.0MFY2024: Capital spending −$1.4BFY2024: Acquisitions −$240MFY2024: Buybacks −$2.3BFY2024: Dividends −$2.3B$5.1BFY2024FY2025: Operating cash flow $4.5BFY2025: Net borrowing −$638MFY2025: Shares issued $94.0MFY2025: Asset sales $9.0MFY2025: Capital spending −$1.3BFY2025: Acquisitions −$15.0MFY2025: Buybacks −$2.4BFY2025: Dividends −$2.5B$4.6BFY2025
Over these 5 years operating cash flow totalled $22.2B; the largest uses were dividends ($10.8B) and buybacks ($10.4B). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$1.7B
Debt$22.2B
Net debt$20.5B
Due within a year$5.4B

Mondelez International funds itself: free cash flow was $3.7B over the last twelve months, and $1.7B of cash and investments stands against $22.2B of debt ($5.4B due within a year, 0.3× covered by cash).

Where the cash came from and went

Mondelez International: sources (+) and uses (−) of cash, Q3 2026Mondelez International: sources (+) and uses (−) of cash, Q3 2026Other financing$1.6BOperating cash flow$1.3BNet borrowing (+) / repaid (−)−$1.2BDividends−$640MBuybacks−$633MCapital spending−$293MOther investing−$155MCash drawn (+) / kept (−)$93.0MShares issued$27.0MExchange rates−$17.0MAsset & business sales$1.0M
Mondelez International: sources (+) and uses (−) of cash, TTM to Q3 2026Mondelez International: sources (+) and uses (−) of cash, TTM to Q3 2026Operating cash flow$5.0BDividends−$2.6BCapital spending−$1.3BBuybacks−$1.3BOther financing$231MNet borrowing (+) / repaid (−)$224MCash drawn (+) / kept (−)−$200MShares issued$89.0MOther investing−$89.0MExchange rates−$9.0MAsset & business sales$5.0M

From profit to cash

Mondelez International: net income to operating cash flow, Q3 2026Mondelez International: net income to operating cash flow, Q3 2026Net income$1.3BDepreciation & amortization$347MStock-based pay$46.0MDeferred taxes$144MImpairments$76.0MOther non-cash−$25.0MReceivables−$788MInventory−$73.0MPayables$165MPrepaid and other assets$119MOther liabilities$648MOperating cash flow$1.3B
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.
QuarterReceivable daysInventory daysPayable daysCash conversion cycle
Q3 20264167144-35
Q2 20264172162-50
Q1 20263753123-33
Q4 20253558123-29
Q3 20253665129-28
Q2 20254069150-41
Q1 20254053127-34
Q4 20243763145-45

Every quarter

QuarterOperating cash flowCapital spendingAcquisitionsBuybacksDividendsNet borrowing (+) / repaid (−)Shares issuedCash drawn (+) / kept (−)Free cash flow
Q3 2026$1.3B−$293M—−$633M−$640M−$1.2B$27.0M$93.0M$991M
Q2 2026$855M−$342M—−$212M−$643M$956M$15.0M−$128M$513M
Q1 2026$467M−$312M——−$644M$324M$38.0M$564M$155M
Q4 2025$2.4B−$398M—−$492M−$645M−$295M$9.0M−$729M$2.0B
Q3 2025$717M−$299M—−$240M−$609M−$540M$14.0M$121M$418M
Q2 2025$308M−$305M—−$131M−$610M$805M$27.0M$38.0M$3.0M
Q1 2025$1.1B−$277M−$15.0M−$1.5B−$623M−$453M$44.0M−$225M$815M
Q4 2024$1.5B−$405M−$240M−$1.1B−$627M−$37.0M$5.0M$173M$1.1B

Mondelez International: income statement and cash flow

Mondelez International, Q3 2026: revenue $10.0B (+2% year over year), operating margin 17.6%. The chart follows the revenue to costs, profit and cash.

Mondelez International: every quarter, Q/Q and Y/Y → Open in the app

Read automatically from the company’s XBRL cash-flow statements; quarterly figures for the fourth quarter are the year less the first three. Errors are possible. Not investment advice.