Filing Flows › Mondelez International (MDLZ) › Q4 2025
Mondelez International (MDLZ) Q4 2025 earnings results (fourth quarter 2025)
10-K filed Feb 4, 2026
Mondelez International (MDLZ) reported revenue of $10.5B for the fourth quarter 2025 (Q4 2025), +9% from a year earlier and +8% from the quarter before. Operating margin was 9.1%, net earnings $669M (6.4% of revenue).
Mondelez International, Q4 2025: revenue $10.5B (+9% year over year), operating margin 9.1%, net earnings $669M, operating cash flow $2.4B. The chart follows the revenue to costs, profit and cash.
| Q4 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $10.5B | +8% | +9% |
| Gross profit | $3.0B | +13% | -20% |
| Operating profit | $952M | +28% | -41% |
| Net earnings | $669M | -10% | -62% |
| Operating cash flow | $2.4B | +234% | +64% |
| Free cash flow | $2.0B | +378% | +90% |
What changed
Revenue was $10.5B in Q4 2025, up 9% year over year and up 8% from the previous quarter. Biscuits & Baked Snacks was the largest line at 45% of revenue.
Gross margin was 28.2%, down 10.5 points from a year earlier. Operating profit was $1.0B, a 9.1% margin (down 7.7 points year over year). Operating profit fell $0.66B even though revenue rose $0.89B versus a year earlier, so costs grew faster than sales. Operating expenses fell 5% while revenue rose 9%. Net earnings were $0.67B, down 62% year over year. The effective tax rate was 28.1%.
Operating cash flow was $2.4B (up 64% year over year), 358% of net earnings. Non-cash charges added back $0.35B of depreciation and amortization and $0.03B of share-based compensation. Working capital and other items added $1.3B. Capital expenditures of $0.40B left free cash flow of $2.0B.
Questions
What was Mondelez International's revenue in the fourth quarter 2025?
Mondelez International (MDLZ) reported revenue of $10.5B for the fourth quarter 2025 (Q4 2025), +9% from a year earlier and +8% from the quarter before.
Was Mondelez International profitable in the fourth quarter 2025?
Operating profit was $952M (9.1% of revenue) and net earnings $669M.