KHC vs MDLZ: How Kraft Heinz and Mondelez International Compare (2026)

Same yardstick, side by side (as of July 2026). Valuation lined up like this is most meaningful for two names in the same corner of the market, which these are. Figures are approximate; verify before investing.

Reading it: KHC is the cheaper of the two on forward earnings, but cheaper is not the same as better. Pair the valuation with growth (how far the forward P/E sits below the trailing P/E) and risk (beta) before you decide.

The metrics above tell you which is the marginally better business. The bigger risk for most people is not picking the slightly worse stock, it is over-concentrating. KHC and MDLZ share themes, so owning both, or adding either to what you already hold, can quietly push a large share of your portfolio into one bet.

This is the part a generic comparison page cannot answer, because it depends on what you own. Connect your brokerage and Walnut shows your real, combined KHC and MDLZ exposure, flags overlap with your existing positions, and tells you if adding one would tip you past a concentration you are comfortable with, read-only by default, with your login staying at your broker. Walnut is not an investment adviser.

The Kraft Heinz Company is one of the largest food and beverage companies in North America, formed by the 2015 merger of Kraft Foods and H.J. Heinz, a deal engineered by Berkshire Hathaway and 3G Capital. It owns a portfolio of well-known packaged-food brands including Kraft, Heinz, Oscar Mayer, Philadelphia, Velveeta, Jell-O, Kool-Aid, Lunchables, Ore-Ida, and others spanning condiments, sauces, cheese, meats, and meals. Kraft Heinz makes money by manufacturing these products and selling them to grocery retailers, club stores, and foodservice customers around the world, earning steady, defensive revenue from everyday consumer staples. The company generates strong, reliable cash flow and pays a high dividend, but it has struggled with slow growth as consumer tastes shift toward fresher, healthier, and private-label options and as it works to revitalize aging brands. Headquartered in Pittsburgh and Chicago, Kraft Heinz is a large, broadly held consumer-staples company valued primarily for income and stability rather than growth.

Full KHC guide

Mondelez International is one of the world's largest snack-food companies, focused almost entirely on two high-growth global categories: biscuits (crackers and cookies like Oreo, Ritz, LU, and Tate's) and chocolate (Cadbury Dairy Milk, Milka, Toblerone), plus a smaller gum and candy business. It reports by geography across Latin America, Asia Middle East and Africa (AMEA), Europe, and North America, and generates 2025 net revenues of roughly $38.5 billion selling in over 150 countries. The model is classic branded consumer staples: build powerful global and local brands, distribute at massive scale, and use pricing plus mix to grow revenue steadily through economic cycles. A large share of sales comes from emerging markets, which gives Mondelez a faster organic growth profile than many packaged-food peers.

Full MDLZ guide

Both fit overlapping themes, but they are not interchangeable. The useful comparison is which set of drivers and risks you want exposure to.

• KHC drivers: Iconic brands and condiment strength; Cash flow and high dividend.
• MDLZ drivers: Emerging-market growth engine; Brand strength and pricing power.

A faster-growing, richer-valued name usually swings harder, so it suits a longer horizon and a higher tolerance for volatility; a steadier, more cash-generative business suits a more conservative or income-minded investor. The honest test is which set of risks you could hold through a drawdown: Kraft Heinz faces slow or stagnant organic growth as consumers shift toward fresher, healthier, less-processed foods and trade down to cheaper private-label products, pressuring its legacy packaged brands. For MDLZ, the most immediate risk is commodity-cost inflation, cocoa above all, which can compress chocolate margins faster than pricing can offset, as recent record cocoa prices showed.

Growth-minded investors who believe the theme has years to run tend to accept the richer multiple for more upside; value-minded investors lean toward the cheaper forward earnings and steadier profile. Pick KHC if you believe its drivers more; MDLZ if you believe its. Many investors hold both, but since they share themes, that is a concentrated bet, not diversification. Decide deliberately and check overlap. For the full detail, see the KHC and MDLZ guides.

KHC. Kraft Heinz trades at a low valuation typical of a slow-growth consumer-staples company, reflecting stagnant organic growth, secular pressure on processed food, and a heavy debt load, balanced against strong, defensive cash flow and a high dividend yield. The market prices it as an income and value name rather than a growth stock, with the depressed multiple embedding skepticism about a brand-led turnaround.

MDLZ. Figures are approximate and tied to the asOf date; verify live numbers before acting. Mondelez usually trades at a consumer-staples premium multiple reflecting brand strength and steady cash flow, but that multiple compresses when cocoa costs or volume softness threaten margins. Because it is treated partly as an income and defensive holding, the valuation is also sensitive to interest rates. Judge the stock on organic growth, margin trajectory versus cocoa, and pricing elasticity rather than headline EPS alone.

Headline figures (approximate, early 2026): KHC shows revenue (ttm) ~$26 billion, operating margin ~20%, net income (ttm) ~$2.5 billion, p/e (ttm) ~12x; MDLZ shows net revenue (2025) ~$38.5 billion (Q1 2026 net revenue up ~8% year over year), organic net revenue growth (q1 2026) ~3% (led by emerging markets), diluted eps (q1 2026) ~$0.44, up sharply year over year (figure approximate), market cap Large cap, roughly $80 to $95 billion range (approximate, verify live).

KHC and MDLZ are related but distinct: same themes, different businesses and risks. Neither wins in the abstract; the right pick is whichever thesis you actually believe, sized so you are not over-concentrated in one theme. Walnut can show your combined KHC and MDLZ exposure against your real portfolio. It is not an investment adviser.