Philip Morris International
PM NYSE· Tobacco
Last close · Oct 27, 2026
$202.62
KIRA · Stoqly’s AI analyst, in plain words
- Philip Morris International had $40.6B of revenue in fiscal 2025, up 7.3% on the year before. Over five years, revenue changed +7.2% a year on average.
- Its operating margin was 36.6%, up 1.3 pts: of every 100 in sales, about 37 is left after running the business.
- Philip Morris International made $11.3B of net profit in fiscal 2025. From fiscal 2016 to 2025, diluted EPS grew 5.5% a year.
- Free cash flow was $10.7B in fiscal 2025, 26.2% of revenue.
- Philip Morris International returned $8.6B to shareholders in fiscal 2025, 81% of free cash flow. The diluted share count rose 0.1%.
- Philip Morris International owes $44.0B more than it holds in cash, about 2.6 years of operating profit.
Market cap
$316.1B
P/E
29.6x
Revenue
$40.6B
Net income
$11.3B
Free cash flow
$10.7B
Operating margin
36.6%
Philip Morris International in 30 seconds · fiscal 2025
Are sales growing?
+7.3%
Yes. Sales grew 7.3% last year.
Does it make a profit?
27.9%
Yes. It keeps 27.9% of every sale as profit.
Does profit turn into cash?
26.2%
Yes. 26.2% of sales ends up as free cash.
Is debt under control?
2.6x
Keep an eye on it. Repaying its debt would take 2.6 years of operating profit.
How healthy are the accounts?
7 / 9
Solid. It passes 7 of 9 health tests.
How is the share priced?
29.6x
One share costs 29.6 times its yearly profit per share. Typical for its sector: 24.2x.
What Philip Morris International does
Philip Morris International sells cigarettes and nicotine products that don't burn tobacco. Its cigarettes, led by Marlboro, along with Parliament, Chesterfield, L&M and Philip Morris, are sold in about 170 markets. Its smoke-free products include IQOS, a device that heats tobacco instead of burning it, ZYN nicotine pouches, General snus and VEEV e-cigarettes, sold in 106 markets. In the US its products include ZYN, and it holds the full US rights to IQOS. It sells to retailers directly and through distributors and wholesalers, and also online and in its own stores. Net revenues were $40.6 billion in 2025, of which $16.9 billion came from smoke-free products. Marlboro made up about 43% of the cigarettes it shipped. Japan is its largest market by revenue. The company says its goal is to stop selling cigarettes entirely in favor of smoke-free products.
Biggest risks, in its own words
- Failing to grow its smoke-free products, or regulators banning or tightly restricting them.
- Cigarette sales keep falling in many of its markets.
- Government rules and taxes aimed at cutting tobacco and nicotine use.
- Lawsuits over tobacco and nicotine products that could cut its profits.
- Fiscal year ends
- December 31, 2025
- Latest annual report
- 10-K · Feb 6, 2026
- Legal name
- Philip Morris International Inc.
- CIK
- 0001413329
Philip Morris International · PM
Results and finances
The last 5 fiscal years. Amounts in USD.
| Fiscal year | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Sales and profit | |||||
| Revenue | $31.4B | $31.8B | $35.2B | $37.9B | $40.6B |
| Revenue growth | 9.5% | 1.1% | 10.7% | 7.7% | 7.3% |
| Gross margin | 68.1% | 64.1% | 63.4% | 64.8% | 67.1% |
| Operating margin | 41.3% | 38.6% | 32.9% | 35.4% | 36.6% |
| Net income | $9.1B | $9.0B | $7.8B | $7.1B | $11.3B |
| Net margin | 29.0% | 28.5% | 22.2% | 18.6% | 27.9% |
| Diluted EPS | $5.83 | $5.81 | $5.02 | $4.52 | $7.26 |
| Cash | |||||
| Cash from operations | $12.0B | $10.8B | $9.2B | $12.2B | $12.2B |
| Capital expenditure | $748M | $1.1B | $1.3B | $1.4B | $1.6B |
| Free cash flow | $11.2B | $9.7B | $7.9B | $10.8B | $10.7B |
| FCF margin | 35.7% | 30.6% | 22.4% | 28.4% | 26.2% |
| Dividends paid | $7.6B | $7.8B | $8.0B | $8.2B | $8.6B |
| Share buybacks | $775M | $209M | $0.0M | $0.0M | $0.0M |
| Share count change | 0.1% | −0.5% | 0.1% | 0.2% | 0.1% |
| Debt and strength | |||||
| Cash and short-term investments | $4.5B | $3.2B | $3.1B | $4.2B | $4.9B |
| Debt incl. finance leases | $27.8B | $43.1B | $47.9B | $45.7B | $48.8B |
| Shareholders' equity | −$10.1B | −$9.0B | −$11.2B | −$11.8B | −$10.0B |
| Net debt / EBITDA | 1.7x | 3.0x | 3.5x | 2.7x | 2.6x |
| Current ratio | 0.9x | 0.7x | 0.8x | 0.9x | 1.0x |
| Interest coverage | 17.6x | 16.0x | 7.6x | 7.6x | 9.4x |
| Returns and quality | |||||
| Return on capital | 70.6% | 40.6% | 26.0% | 30.1% | 35.4% |
| Piotroski F-score | 7 | 6 | 5 | 7 | 7 |
| Altman Z'' | 4.3 | 2.2 | 2.1 | 2.8 | 2.9 |
Insiders bought, 12 months
$0.0M
0 insiders
Insiders sold, 12 months
$28.8M
6 insiders
Of sales under plans
0%
$0.0M
How to read these numbers
- Revenue:
- Total sales reported in the income statement.
- Operating margin:
- Operating income as a share of revenue.
- Net income:
- Profit after all expenses, interest and tax.
- Free cash flow:
- Cash from operations minus capital spending.
- Net debt / EBITDA:
- Years of EBITDA needed to pay off net debt. Below zero means more cash than debt.
- Return on capital:
- After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
Philip Morris International · PM
Charts and comparison
Ten years at a glance, and how it stacks up against similar companies.
Revenue
Net income
Margins, % of revenue
Cash vs debt (incl. leases)
Free cash flow
Dividends and buybacks
Similar companies
Each company’s latest fiscal year. Fiscal years end in different months, so periods don’t line up exactly.
| Company | Market cap | Growth | Op. margin | FCF margin | ROIC | P/E | F-score |
|---|---|---|---|---|---|---|---|
| Philip Morris International PM | $316.1B | 7.3% | 36.6% | 26.2% | 35.4% | 29.6x | 7 |
| Altria MO | $122.7B | −3.1% | 42.5% | 39.0% | 39.2% | 15.5x | 7 |
| Universal UVV | $993M | −1.3% | 5.8% | 2.8% | 4.0% | 52.1x | 5 |
| US Foods USFD | $22.7B | 4.1% | 3.0% | 2.4% | 9.6% | 31.6x | 7 |
| Dollar General DG | $28.1B | 5.2% | 5.2% | 5.6% | 13.8% | 16.5x | 7 |
Price compared with profit (P/E)
How many times its yearly profit per share one share costs. Higher means investors pay more for each unit of profit.
KIRA
At $202.62 a share, the company is worth $316.1B: 29.6 times its earnings of the last four quarters.
Philip Morris International grew sales faster than 4 of its 4 similar companies. Its P/E is higher than 2 of 4.
Source: SEC EDGAR XBRL filings (CIK 0001413329). Data updated October 23, 2026. For information only — not investment advice. Check the original filings before relying on any figure.