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We are one of the world s largest snack companies with global net revenues of $38.5 billion and net earnings of $2.5 billion in 2025. We also have additional businesses in adjacent, locally relevant categories including gum & candy, cheese & grocery and powdered beverages.
$61.07
+$0.02 (+0.03%)
Last close via Marketstack
Operating margin is thin at 9.21%. Limited cushion if revenue slows or costs rise, not the profile of a wide-moat business.
Revenue grew 5.8%, steady but not accelerating. Margins contracted 8.2pp, which offsets some of the top-line progress.
At 30x earnings, the current multiple leaves limited room for execution misses or growth deceleration. ROIC dropped from 10.31% to 5.88%, capital efficiency is deteriorating.
30.2x earnings, 30.5x FCF. Not cheap, the quality is already reflected in the price. Upside from here requires either margin expansion or growth re-acceleration, not just continuation.
Based on TTM earnings · Diluted shares
Profitability & Returns
Revenue (TTM)
$39.30B
▲ +5.8% YoY
Net Income (TTM)
$2.61B
▼ -46.8% YoY
Op. Margin
9.35%
▼ -8.2pp YoY
ROIC
5.89%
▼ -4.4pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
$2.58B
▼ -8.2% YoY
Op. Cash Flow (TTM)
$3.89B
▼ -8.1% YoY
Net Debt
$19.99B
Cash & Equiv.
$1.63B
5Y CAGR: +7.7%
5Y CAGR: +0.8%
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