Philip Morris International
PM · Tobacco
$199.47
1.1%US Foods
USFD · Food Distributors
$100.91
3.0%The short version
- Philip Morris International is the larger business, with $40.6B of revenue in fiscal 2025 against $39.4B for US Foods.
- Philip Morris International grew revenue faster (7.3%, against 4.1%).
- Philip Morris International kept more of each dollar of sales as operating profit (36.6% operating margin, against 3.0% operating margin).
- Philip Morris International turned more of its sales into free cash flow (26.2% FCF margin, against 2.4% FCF margin).
- Philip Morris International earned a higher return on the capital invested in it (35.4%, against 9.6%).
- Investors pay more for each dollar of US Foods’s earnings: a P/E of 31.0x against 29.1x for Philip Morris International.
| Latest fiscal year | PM · FY25 | USFD · FY25 |
|---|---|---|
| Size | ||
| Market cap | $311.2B | $22.3B |
| Revenue | $40.6B | $39.4B |
| Free cash flow | $10.7B | $959M |
| Net income | $11.3B | $676M |
| Growth | ||
| Revenue growth | 7.3% | 4.1% |
| 5-year growth | 7.2% | 11.5% |
| Share count change | 0.1% | −5.7% |
| Profitability | ||
| Gross margin | 67.1% | 17.4% |
| Operating margin | 36.6% | 3.0% |
| Net margin | 27.9% | 1.7% |
| FCF margin | 26.2% | 2.4% |
| Return on capital | 35.4% | 9.6% |
| Return on equity | — | 15.3% |
| Balance sheet | ||
| Net debt | $44.0B | $5.2B |
| Net debt / EBITDA | 2.6x | 3.1x |
| Dividends and buybacks | $8.6B | $926M |
| Valuation & quality | ||
| P/E | 29.1x | 31.0x |
| Piotroski F-score | 7 | 7 |
FY16
PM $26.7B
USFD $22.9B
FY17
PM $28.7B
USFD $24.1B
FY18
PM $29.6B
USFD $24.2B
FY19
PM $29.8B
USFD $25.9B
FY20
PM $28.7B
USFD $22.9B
FY21
PM $31.4B
USFD $29.5B
FY22
PM $31.8B
USFD $34.1B
FY23
PM $35.2B
USFD $35.6B
FY24
PM $37.9B
USFD $37.9B
FY25
PM $40.6B
USFD $39.4B
PM
USFD
FY16
PM 40.9%
USFD 1.8%
FY17
PM 40.3%
USFD 2.4%
FY18
PM 38.4%
USFD 2.7%
FY19
PM 35.3%
USFD 2.7%
FY20
PM 40.7%
USFD −0.3%
FY21
PM 41.3%
USFD 1.4%
FY22
PM 38.6%
USFD 1.7%
FY23
PM 32.9%
USFD 2.9%
FY24
PM 35.4%
USFD 2.9%
FY25
PM 36.6%
USFD 3.0%
PM
USFD
FY16
PM $6.9B
USFD $385M
FY17
PM $7.4B
USFD $528M
FY18
PM $8.0B
USFD $374M
FY19
PM $9.2B
USFD $502M
FY20
PM $9.2B
USFD $224M
FY21
PM $11.2B
USFD $145M
FY22
PM $9.7B
USFD $500M
FY23
PM $7.9B
USFD $831M
FY24
PM $10.8B
USFD $833M
FY25
PM $10.7B
USFD $959M
PM
USFD
FY16
PM 57.2%
USFD 6.8%
FY17
PM 46.4%
USFD 9.3%
FY18
PM 58.3%
USFD 8.3%
FY19
PM 55.7%
USFD 7.1%
FY20
PM 64.8%
USFD −0.7%
FY21
PM 70.6%
USFD 3.8%
FY22
PM 40.6%
USFD 5.1%
FY23
PM 26.0%
USFD 8.6%
FY24
PM 30.1%
USFD 9.1%
FY25
PM 35.4%
USFD 9.6%
PM
USFD
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Each company's latest fiscal year; fiscal years end in different months. The best value in each row is highlighted where higher (or lower) is clearly better. Not investment advice.