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Mondelez InternationalMDLZ -0.57%82 ROC (Joel Greenblatt) % is 32.54% as of Mar. 2026, which is 20% below its 10-year median of 40.89. GuruFocus rates MDLZ with a GF Score™ of 82/100 and a GF Value™ of $76.69 (Modestly Undervalued). The stock has 6 warning signs investors should review. Among 1,978 Consumer Packaged Goods companies, Mondelez International ranks better than 83.52% on this metric.
Joel Greenblatt defined Return on Capital differently in his book The Little Book That Still Beats the Market (Little Books. Big Profits). He defines ROC (Joel Greenblatt) % as EBIT divided by the total of Property, Plant and Equipment and net working capital. Mondelez International's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was 32.54%.
The historical rank and industry rank for Mondelez International's ROC (Joel Greenblatt) % or its related term are showing as below:
MDLZ'
s ROC (Joel Greenblatt) % Range Over the Past 10 Years
Min: 23.74 Med: 40.89 Max: 65.64
Current: 34.8
During the past 13 years, Mondelez International's highest ROC (Joel Greenblatt) % was 65.64%. The lowest was 23.74%. And the median was 40.89%.
MDLZ's ROC (Joel Greenblatt) % is ranked better than 83.52% of 1978
companies
in the Consumer Packaged Goods industry
Industry Median: 11.99
vs MDLZ: 34.80
Mondelez International's 5-Year average Growth Rate of ROC (Joel Greenblatt) % was 1.20% per year.
Mondelez International (NAS:MDLZ) ROC (Joel Greenblatt) % Explanation
The way Joel Greenblatt defines Return on Capital is a more accurate measure of how efficiently the company generates returns onthe capital actually invested in the business. EBIT is used instead of net income because the tax and interest payment may be affected by factors other than the core business operation. Intangible assets are not included in the calculation because they don't need to be replaced.
Mondelez International ROC (Joel Greenblatt) % Related Terms
Mondelez International ROC (Joel Greenblatt) % Historical Data
* Premium members only.
The historical data trend for Mondelez International's ROC (Joel Greenblatt) % can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Mondelez International ROC (Joel Greenblatt) % Chart
MDLZ vs HSY, TR, SOWG: ROC (Joel Greenblatt) % Comparison
For the Confectioners subindustry, Mondelez International's ROC (Joel Greenblatt) %, along with its competitors' market caps and ROC (Joel Greenblatt) % data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
Mondelez International ROC (Joel Greenblatt) % vs Consumer Packaged Goods Industry
For the Consumer Packaged Goods industry and Consumer Defensive sector, Mondelez International's ROC (Joel Greenblatt) % distribution charts can be found below:
* The bar in red indicates where Mondelez International's ROC (Joel Greenblatt) % falls into.
Mondelez International ROC (Joel Greenblatt) % Calculation
Joel Greenblatt defined Return on Capital differently in his book The Little Book That Still Beats the Market (Little Books. Big Profits) . He defines Return on Capital as follows:
EBIT stands for Earnings Before Interest and Taxes.
Fixed Assets are also known as non-current assets. They include the Property, Plant and Equipment that the firm needs in its operation.
GuruFocus calculates net working capital as: (Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Deferred Revenue + Other Current Liabilities). We're trying to account for OPERATING assets and liabilities (part of daily business) when calculating working capital. Cash and marketable securities are considered NON-OPERATING assets and are not included in calculation. We will also back out all interest bearing debt, short term debt and the portion of long term debt that is due in the current period from the current liabilities. This debt will be considered when computing cost of capital and it would be inappropriate to count it twice.
Note:
The EBIT data used here is four times the quarterly (Mar. 2026) EBIT data.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
What does a ROC (Joel Greenblatt) % of 32.54% mean?
Mondelez International (MDLZ) has a ROC (Joel Greenblatt) % of 32.54% as of Mar. 2026. Joel Greenblatt's return on capital is the ratio of EBIT to average fixed assets and net working capital. View historical data on Mondelez International and its competitors. This is 20% below median its historical median of 40.89. Over the past decade, Mondelez International's ROC (Joel Greenblatt) % has ranged from 23.74 to 65.64. According to the industry distribution chart, Mondelez International ranks #326 out of 1978 companies in the Consumer Packaged Goods industry, placing it in the top 16.5%.
Is Mondelez International's ROC (Joel Greenblatt) % too high?
Mondelez International's current ROC (Joel Greenblatt) % of 32.54% is 20% below median its 10-year median of 40.89. Over the past 10 years, this metric has ranged from a low of 23.74 to a high of 65.64. The Consumer Packaged Goods industry median ROC (Joel Greenblatt) % is 11.99. Mondelez International's value of 32.54% is 171.4% above this industry median. Based on the distribution chart, Mondelez International ranks #326 out of 1978 companies in the Consumer Packaged Goods industry, which is in the top quartile — a strong position relative to peers. Overall, Mondelez International has a GF Score™ of 82/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Mondelez International's ROC (Joel Greenblatt) % compare to HSY and TR?
According to the Consumer Packaged Goods industry distribution chart, Mondelez International ranks #326 out of 1978 companies for ROC (Joel Greenblatt) %. This places Mondelez International in the top 17% of its industry — outperforming the majority of peers. The industry median ROC (Joel Greenblatt) % is 11.99. Mondelez International's value of 32.54% is 171.4% above this benchmark. Historically, Mondelez International's own ROC (Joel Greenblatt) % has ranged from 23.74 to 65.64 over the past decade. While the company's 10-year median is 40.89 vs. the industry median of 11.99, Mondelez International has consistently been above the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good ROC (Joel Greenblatt) % for a Consumer Packaged Goods company?
The median ROC (Joel Greenblatt) % among Consumer Packaged Goods companies is 11.99, based on 1,978 companies in the industry. Companies in the top quartile (top 25%) have a ROC (Joel Greenblatt) % significantly above this median, while those in the bottom quartile fall well below. However, ROC (Joel Greenblatt) % should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Mondelez International's current ROC (Joel Greenblatt) % of 32.54% is 171.4% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high ROC (Joel Greenblatt) % mean?
A high ROC (Joel Greenblatt) % can signal that a stock is expensive relative to its fundamentals. Joel Greenblatt's return on capital is the ratio of EBIT to average fixed assets and net working capital. View historical data on Mondelez International and its competitors. For the Consumer Packaged Goods industry, the median ROC (Joel Greenblatt) % is 11.99 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Mondelez International's current ROC (Joel Greenblatt) % is 32.54%, which is 20% below median its own 10-year median of 40.89. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Mondelez International stock overvalued right now?
Based on GuruFocus' analysis, Mondelez International (MDLZ) is currently considered Modestly Undervalued. The stock's GF Value™ is $76.69, compared to a current price of $58.47 — trading 23.8% below its estimated fair value. The current ROC (Joel Greenblatt) % is 32.54%, which is 20% below median its 10-year median of 40.89 and 171.4% above the Consumer Packaged Goods industry median of 11.99. Mondelez International's overall GF Score™ is 82/100 with 6 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is ROC (Joel Greenblatt) % calculated?
ROC (Joel Greenblatt) % is calculated from a company's financial statements. For Mondelez International (MDLZ), the current ROC (Joel Greenblatt) % is 32.54% as of Mar. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is Mondelez International (MDLZ) Overvalued in 2026?
Based on GuruFocus' analysis, Mondelez International stock appears to be undervalued.
The current stock price of $58.47 is trading 23.8% below its estimated GF Value™ of $76.69.
GuruFocus considers Mondelez International to be Modestly Undervalued.
Key valuation signals for MDLZ:
ROC (Joel Greenblatt) %: 32.54% (20% below median its 10-year median of 40.89)
GF Value™: $76.69 vs. price of $58.47 (23.8% below fair value)
Industry Position: 171.4% above the Consumer Packaged Goods median (#326 of 1978)
No single metric tells the full story. See the MDLZ stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Mondelez has operated independently since its split from the former Kraft Foods North American grocery business in October 2012. The firm is a leading player in the global snack enclave with a presence in the biscuit (48% of sales as of the end of fiscal 2025), chocolate (33%), gum/candy (10%), beverage (3%), and cheese and grocery (6%) aisles. Mondelez's portfolio includes well-known brands like Oreo, Chips Ahoy, Halls, and Cadbury. The firm derives around one-third of its revenue from developing markets, around 40% from Europe, and more than one-fourth from North America.
82GF Score
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