PM
NYSE · USDPhilip Morris International Inc.
Consumer Defensive · Tobacco
CEO Jacek Olczak
Employees 84,900
R&D / revenue 0.0%
Last price
$205.20+2.65%last session
Market cap
$319.8B
P/E (TTM)
29.5x
From 52w high
−2.5%
From 52w low
+44.4%
1-year return
+31.4%
RSI 14 · vs SMA200
64.0 · +14.3%
IS score
76.7/ 100
Factor model across 8 sub-scores, ranked against 3,010 US stocks. Describes the business, not the outlook.
Download full factsheet (PDF)
One year, rebased to 100
PM SPY XLP (sector ETF) · weekly closesScore DNA
Each bar is a 0-100 score within the scored universe76Profitability
75Growth
45Value
90Momentum
100Risk (safety)
78Quality
43Balance sheet
75Earnings quality
Flags
Strengths
✓ Piotroski 8+✓ Congress buying
Warnings
▲ Share count rising
Observations
Moat model: Narrow, Efficient ScalePiotroski 8 / 9Altman Z 4.4Beta 0.403 of 4 smart-money sources active
Smart-money strip
Each disclosure source on its own window. Filings coinciding is not coordination.INSForm 4 · 180 days
Insider open-market buys
0
No open-market sales on file
Form 144 notices (12m): 7, $28.8M proposed, not confirmed sales
CONGSTOCK Act · 180 days
Congressional purchases
3
Last disclosed purchase 2026-06-02
Members disclose in ranges, 30-45 days after the trade
13F13F · quarter to 2026-06-30
Net change in institutional holders
+68
225 new holders, 118 closed
2,942 filers hold 84.2% · 1,248 added, 1,013 trimmed
ETFETF holdings · 30 days
Net funds accumulating
+307
1,130 funds adding shares
823 funds trimming · counts of funds, not dollars
DARKFINRA · daily
Short-sale share of off-exchange volume
25.4%
20-day avg 51.7%, 50-day avg 49.9%
Latest 26.3 pp under its 20-day average · a flow, not short interest
Key financials · FY2025
USD, fiscal year. Stock-based compensation is non-cash; shown against FCF.Income statement
Revenue$40.6B
Revenue growth YoY+7.3%
Gross margin67.1%
Operating income$14.9B
Operating margin36.7%
Net income$11.3B
Net margin27.9%
EPS (diluted)$7.26
Cash flow
Operating cash flow$12.2B
Capital expenditure$1.6B
Free cash flow$10.7B
FCF conversion (FCF / OCF)87.2%
Stock-based compensation$0
FCF less SBC$10.7B
Buybacks$0
Dividends$8.6B
Balance sheet & returns
Cash & short-term investments$4.9B
Total debt$48.8B
Net debt$44.0B
Shareholders' equity−$8.0B
Goodwill & intangibles$28.1B
Debt / equity-5.72
ROE (TTM)-112.2%
ROIC (TTM)26.3%
Operating margin by fiscal year
Revenue $31.4B (FY2021) to $40.6B (FY2025), a 6.7% CAGR.
Valuation
P/E (TTM)29.5x
EV / EBITDA19.4x
Price / sales7.52x
Price / FCF25.1x
FCF yield3.98%
Buyback yield0.00%
SBC / revenue0.0%
Price / bookn/m
Forward P/E FY202624.4x
Forward P/E FY202722.4x
Forward P/E FY202820.5x
Forward multiples divide today's price by Street EPS estimates. Street mean target $212.71 across 7 analysts last quarter is theirs, not ours.
PM vs industry median
36 companies in Tobacco
PM (TTM)Industry median
Asset turnover 0.62 vs industry 0.58 · financial leverage -7.95
Earnings delivery
Next report 2026-10-21 · consensus EPS $2.3083%
beat rate, 10 of 12 quarters
+4.5%
median EPS surprise
7
longest beat streak
EPS surprise in % vs the consensus at the time, oldest (left) to newest, 2023-10-19 to 2026-07-22. Bars cap at ±60%.
Peers
Market-cap band, not the industry cohort above| Company | Mkt cap | P/E | ROE | Net margin | Rev growth | 12m return |
|---|---|---|---|---|---|---|
| PM Philip Morris International | $319.8B | 29.5x | -112.2% | 25.6% | +7.3% | +31.4% |
| MO Altria Group, Inc. | $125.4B | 15.8x | -269.2% | 42.9% | +8.0% | +16.9% |
| PG The Procter & Gamble Company | $370.0B | 23.6x | 30.2% | 14.1% | +3.3% | +9.6% |
| KO The Coca-Cola Company | $404.0B | 28.2x | 44.2% | 33.1% | +6.5% | +39.8% |
| COST Costco Wholesale Corporation | $438.3B | 47.6x | 28.4% | 3.1% | +10.1% | +7.0% |
| PEP PepsiCo, Inc. | $179.2B | 16.5x | 52.3% | 12.1% | +6.4% | — |
| BUD Anheuser-Busch InBev SA/NV | $163.3B | 14.0x | 18.6% | 19.8% | +2.9% | — |
| WMT Walmart Inc. | $945.5B | 42.9x | 23.4% | 3.4% | +6.2% | — |
12-month window: SPY +15.9%, sector ETF XLP +11.4%. Past returns describe history only.
Recent 8-K filings
2026-09-18Regulation FD; Exhibits
2026-09-08Regulation FD; Exhibits
2026-09-08Regulation FD; Exhibits
2026-08-24Regulation FD; Exhibits
2026-07-22Earnings Release; Exhibits
2026-07-09Officer/Director Change; Exhibits
Context
Shares outstanding1,558,610,000
Free float99.8%
Institutional ownership84.2%
Beta0.40
Dividend yield2.93%
Last dividend$1.60 on 2026-10-02
50 / 200-day average$190.94 / $179.62
Mega-cap Consumer Defensive median P/E31.3x
Full factsheet
The PDF carries everything on this page plus the cash-allocation waterfall, Form 144 notices, 13F holder detail, dark-pool and short-flow history, seasonality and the moat assessment (Narrow).
Read it in the browser Download (PDF)All fundamentals · 140 measures in 13 categories
Percentile = where PM sits among 4 scored companies in Tobacco (0 = lowest value, 100 = highest). It is a position, not a grade.ValuationProfitability (TTM)Returns on capitalGrowthMargin history & stabilityLiquidity (latest quarter)Leverage & solvency (latest quarter)EfficiencyCash flow & earnings qualityDividends & buybacksScores & forensic checksPer shareSize (TTM)
Valuation
| Measure | PM | Industry percentile |
|---|---|---|
| P/E (TTM) | 29.4x | |
| PEG (P/E ÷ 3-yr EPS CAGR) | 2.85 | |
| Price / sales | 7.5x | |
| Price / book | — | |
| Price / tangible book | — | |
| Price / free cash flow | 25.1x | |
| Price / operating cash flow | 22.4x | |
| Enterprise value | $362.9B | |
| EV / sales | 8.5x | |
| EV / EBITDA | 19.4x | |
| EV / EBIT | 21.8x | |
| EV / free cash flow | 28.5x | |
| Earnings yield | 3.4% | |
| FCF yield | 4.0% | |
| Operating cash flow yield | 4.5% | |
| Graham number (per share) | — |
Profitability (TTM)
| Measure | PM | Industry percentile |
|---|---|---|
| Gross margin | 67.5% | |
| EBITDA margin | 44.0% | |
| Operating margin | 37.7% | |
| EBIT margin | 39.2% | |
| Net margin | 25.6% | |
| NOPAT margin | 30.0% | |
| FCF margin | 29.9% | |
| Operating cash flow margin | 33.5% | |
| R&D / revenue | 0.0% | |
| SG&A / revenue | 29.1% | |
| Stock comp / revenue | 0.0% | |
| Effective tax rate | 20.6% |
Returns on capital
| Measure | PM | Industry percentile |
|---|---|---|
| ROE (on average equity) | — | |
| ROA | 15.9% | |
| ROIC | 36.9% | |
| ROCE | 39.9% | |
| Return on tangible assets | 24.4% | |
| Cash ROIC (OCF / invested capital) | 41.3% | |
| Gross profitability (GP / assets) | 42.1% | |
| ROIC, 3-yr average | 36.2% | |
| ROIC, 5-yr average | — | |
| ROE, 5-yr average | — | |
| Incremental ROIC | 602.2% |
Growth
| Measure | PM | Industry percentile |
|---|---|---|
| Revenue growth (TTM YoY) | 9.1% | |
| Revenue growth (QoQ) | 10.3% | |
| Revenue CAGR, 3 yr | 8.7% | |
| Revenue CAGR, 5 yr | 7.2% | |
| Gross profit CAGR, 3 yr | 11.2% | |
| Operating income CAGR, 3 yr | 12.8% | |
| Net income growth (TTM YoY) | 32.4% | |
| Net income CAGR, 3 yr | 10.6% | |
| EPS growth (TTM YoY) | 31.9% | |
| EPS CAGR, 3 yr | 10.3% | |
| EPS CAGR, 5 yr | 4.1% | |
| FCF growth (TTM YoY) | 41.5% | |
| FCF CAGR, 3 yr | 19.7% | |
| Operating cash flow CAGR, 3 yr | 18.2% | |
| Book value CAGR, 3 yr | — | |
| Dividend CAGR, 3 yr | 2.3% | |
| Sustainable growth rate | — |
Margin history & stability
| Measure | PM | Industry percentile |
|---|---|---|
| Gross margin, 3-yr average | 65.8% | |
| Operating margin, 3-yr average | 36.6% | |
| Net margin, 3-yr average | 23.6% | |
| FCF margin, 3-yr average | 26.9% | |
| Revenue stability (0-1) | 0.97 | |
| Earnings stability (0-1) | 0.19 | |
| Margin stability (0-1) | 0.97 |
Liquidity (latest quarter)
| Measure | PM | Industry percentile |
|---|---|---|
| Cash & short-term investments | $6.0B | |
| Net cash (− = net debt) | −$43.1B | |
| Working capital | −$536.0M | |
| Current ratio | 0.98 | |
| Quick ratio | 0.55 | |
| Cash ratio (cash + ST investments / current liabilities) | 0.23 | |
| Defensive interval (days) | 359 days |
Leverage & solvency (latest quarter)
| Measure | PM | Industry percentile |
|---|---|---|
| Total debt | $49.1B | |
| Debt / equity | — | |
| Net debt / equity | — | |
| Debt / assets | 71.9% | |
| Debt / capital | — | |
| Debt / EBITDA | 2.62 | |
| Net debt / EBITDA | 2.30 | |
| Interest coverage (EBIT / interest) | 10.8x | |
| Cash interest coverage | 9.2x | |
| Debt payback (years of OCF) | 3.4 yrs | |
| Liabilities / assets | 109.8% | |
| IS credit model rating | B- | |
| Implied credit spread (bps) | 900 |
Efficiency
| Measure | PM | Industry percentile |
|---|---|---|
| Asset turnover | 0.62 | |
| Fixed asset turnover | 5.12 | |
| Inventory turnover | 1.2 | |
| Receivables turnover | 8.4 | |
| Days sales outstanding | 44 days | |
| Days inventory outstanding | 293 days | |
| Days payables outstanding | 103 days | |
| Cash conversion cycle (days) | 233 days | |
| Capex / revenue | 3.6% | |
| Capex / depreciation | 0.75 | |
| Operating expense ratio | 28.0% |
Cash flow & earnings quality
| Measure | PM | Industry percentile |
|---|---|---|
| Operating cash flow / net income | 1.31 | |
| FCF / net income | 1.17 | |
| FCF / operating cash flow | 89.2% | |
| Capex / operating cash flow | 10.8% | |
| Accruals ratio | -5.0% | |
| Sloan accruals ratio | 3.2% | |
| Earnings quality score (0-1) | 1.00 |
Scores & forensic checks
| Measure | PM | Industry percentile |
|---|---|---|
| IS score | 77 | |
| IS profitability | 76 | |
| IS growth | 75 | |
| IS value | 45 | |
| IS momentum | 90 | |
| IS risk (safety) | 100 | |
| IS quality | 78 | |
| IS balance sheet | 43 | |
| IS earnings quality | 75 | |
| IS cash flow | 82 | |
| Piotroski F-score (0-9) | 8 | |
| Altman Z-score | 4.4 | |
| Beneish M-score | −2.64 | |
| Ohlson O-score | −7.29 | |
| IS credit score | 20 |
Size (TTM)
| Measure | PM | Industry percentile |
|---|---|---|
| Market cap | $319.8B | |
| Revenue | $42.5B | |
| EBITDA | $18.7B | |
| Net income | $10.9B | |
| Free cash flow | $12.7B | |
| Total assets | $68.3B | |
| Shareholders' equity | −$8.6B | |
| Employees | 84,900 |
Insider transactions, last 6 months
Form 4 · most recent 12| Date | Insider | Type | Shares | Price | Value | Owned after |
|---|---|---|---|---|---|---|
| 2026-05-06 | Combes Michel Director |
Award / grant | 1,119 | $169.93 | $190,152 | 11,643 |
| 2026-05-06 | Geissler Werner Director |
Award / grant | 1,119 | $169.93 | $190,152 | 98,356 |
| 2026-05-06 | Morparia Kalpana Director |
Award / grant | 1,119 | $169.93 | $190,152 | 28,236 |
| 2026-05-06 | Harker Victoria D Director |
Award / grant | 1,119 | $169.93 | $190,152 | 4,537 |
| 2026-05-06 | Polet Robert Director |
Award / grant | 1,119 | $169.93 | $190,152 | 29,765 |
| 2026-05-06 | Bough Bonin Director |
Award / grant | 1,119 | $169.93 | $190,152 | 11,297 |
| 2026-05-06 | Hook Lisa Director |
Award / grant | 1,119 | $169.93 | $190,152 | 20,060 |
| 2026-05-06 | Calantzopoulos Andre Director, other: Chairman |
Award / grant | 1,119 | $169.93 | $190,152 | 588,782 |
| 2026-05-06 | Yanai Shlomo Director |
Award / grant | 1,119 | $169.93 | $190,152 | 10,120 |
Shares acquired vs disposed, by month
acquired disposed · all Form 4 typesBy transaction type, 6 months
| Type | Direction | Filings | Shares | Value |
|---|---|---|---|---|
| Award / grant | Acquired | 9 | 10,071 | $1.7M |
| — | Disposed | 1 | 0 | — |
Awards, option exercises and tax withholding are compensation mechanics; open-market buys and sales are the discretionary ones.
Form 144 notices
12 months: 7 notices · 158,150 shares · $28.8M| Filed | Filer | Shares proposed | Est. proceeds |
|---|---|---|---|
| 2026-02-20 | Reginaldo Dobrowolski | 5,000 | $917,300 |
| 2026-02-20 | Stacey R Kennedy | 14,350 | $2.6M |
| 2026-02-20 | Cristina Harumi Oka Dobrowolski | 1,000 | $183,580 |
| 2026-02-19 | Yann Guerin | 4,000 | $726,720 |
A Form 144 is notice of a proposed sale, not a confirmed one.
Congress trades
12 months: House 12 trades (2 purchases) · Senate 2 (2 purchases)| Traded | Member | Chamber | Type | Amount | Disclosed |
|---|---|---|---|---|---|
| 2026-06-02 | Ro Khanna | House | Purchase | $1,001 - $15,000 | 2026-07-08 |
| 2026-03-27 | Alan Armstrong | Senate | Purchase | $1,001 - $15,000 | 2026-07-21 |
| 2026-03-27 | Alan Armstrong | Senate | Purchase | $1,001 - $15,000 | 2026-07-20 |
| 2026-02-05 | Julia Letlow | House | Sale | $1,001 - $15,000 | 2026-03-13 |
| 2026-02-05 | Julia Letlow | House | Sale | $1,001 - $15,000 | 2026-03-13 |
| 2026-01-29 | Ro Khanna | House | Sale | $1,001 - $15,000 | 2026-02-10 |
| 2025-02-13 | Markwayne Mullin | Senate | Purchase | $15,001 - $50,000 | 2025-02-27 |
| 2025-02-13 | Markwayne Mullin | Senate | Purchase | $15,001 - $50,000 | 2025-02-26 |
STOCK Act disclosures, in ranges, filed up to 45 days after the trade.
Largest 13F holders
Quarter to 2026-06-30, the latest most managers have filed| Manager | Shares | Value | % of shares out |
|---|---|---|---|
| Capital World Investors | 133,152,391 | $24.1B | 8.54% |
| BlackRock, Inc. | 108,039,522 | $19.5B | 6.93% |
| VANGUARD CAPITAL MANAGEMENT LLC | 101,785,557 | $18.4B | 6.53% |
| Capital Research Global Investors | 84,253,663 | $15.2B | 5.41% |
| Capital International Investors | 72,252,261 | $13.1B | 4.64% |
| STATE STREET CORP | 55,569,994 | $10.1B | 3.57% |
| FMR LLC | 46,521,326 | $8.4B | 2.98% |
| GQG Partners LLC | 45,436,985 | $8.2B | 2.92% |
| GEODE CAPITAL MANAGEMENT, LLC | 39,038,598 | $7.1B | 2.50% |
| JPMORGAN CHASE & CO | 37,439,227 | $6.8B | 2.40% |
| VANGUARD PORTFOLIO MANAGEMENT LLC | 30,281,680 | $5.5B | 1.94% |
| MORGAN STANLEY | 21,551,996 | $3.9B | 1.38% |
| FRANKLIN RESOURCES INC | 19,333,837 | $3.5B | 1.24% |
| PRICE T ROWE ASSOCIATES INC /MD/ | 19,224,752 | $3.5B | 1.23% |
| WELLINGTON MANAGEMENT GROUP LLP | 17,506,171 | $3.2B | 1.12% |
Institutional ownership by quarter
% of shares held by 13F filers
Number of 13F filers holding
Holder changes by quarter
| Quarter | Holders | Ownership | New | Increased | Reduced | Closed |
|---|---|---|---|---|---|---|
| 2026-06-30 | 2,942 | 84.2% | 225 | 1,248 | 1,013 | 118 |
| 2026-03-31 | 2,874 | 83.0% | 213 | 1,199 | 1,046 | 116 |
| 2025-12-31 | 2,818 | 82.2% | 312 | 1,112 | 995 | 165 |
| 2025-09-30 | 2,739 | 81.6% | 150 | 1,107 | 1,050 | 211 |
| 2025-06-30 | 2,852 | 80.8% | 284 | 1,126 | 1,029 | 116 |
| 2025-03-31 | 2,716 | 80.5% | 349 | 1,019 | 968 | 113 |
| 2024-12-31 | 2,523 | 79.6% | 320 | 996 | 832 | 107 |
| 2024-09-30 | 2,353 | 79.2% | 252 | 859 | 879 | 100 |
| 2024-06-30 | 2,225 | 79.0% | 200 | 839 | 860 | 101 |
| 2024-03-31 | 2,162 | 77.9% | 148 | 820 | 884 | 120 |
| 2023-12-31 | 2,161 | 78.1% | 243 | 711 | 874 | 86 |
| 2023-09-30 | 2,037 | 77.8% | 133 | 774 | 784 | 106 |
Schedule 13D / 13G filers
| Filed | Form | Filer | % of class | Shares |
|---|---|---|---|---|
| 2026-05-14 | SCHEDULE 13G | Capital Research Global Investors | 5.1% | 79,856,361 |
| 2026-05-14 | SCHEDULE 13G/A | Capital International Investors | 4.8% | 74,180,496 |
| 2026-04-30 | SCHEDULE 13G | Vanguard Capital Management | 7.5% | 116,641,154 |
| 2026-03-27 | SCHEDULE 13G/A | The Vanguard Group | 0.0% | 0 |
Required above 5% of a class; 13G is the passive form.
ETFs with the largest holding
| ETF | Weight in fund | Holding value |
|---|---|---|
| VITSX | 0.41% | $9.4B |
| VTI | 0.41% | $9.4B |
| VSMPX | 0.41% | $9.4B |
| VTSAX | 0.41% | $9.4B |
| VFINX | 0.45% | $7.8B |
| VOO | 0.45% | $7.8B |
Share structure
Shares outstanding1,558,610,000
Float1,555,333,802
Free float99.8%
Income statement
Fiscal years, USD| FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | |
|---|---|---|---|---|---|
| Revenue | $31.4B | $31.8B | $35.2B | $37.9B | $40.6B |
| Cost of revenue | $10.0B | $11.4B | $12.9B | $13.3B | $13.4B |
| Gross profit | $21.4B | $20.4B | $22.3B | $24.5B | $27.3B |
| R&D | $617.0M | $0 | $0 | $759.0M | $0 |
| SG&A | $8.4B | $8.1B | $10.1B | $11.1B | $12.3B |
| Operating income | $13.0B | $12.2B | $11.6B | $13.4B | $14.9B |
| EBITDA | $14.0B | $13.5B | $13.4B | $15.7B | $17.5B |
| Pretax income | $12.4B | $11.8B | $10.6B | $12.2B | $14.6B |
| Income tax | $2.7B | $2.2B | $2.3B | $2.4B | $2.7B |
| Net income | $9.1B | $9.0B | $7.8B | $7.0B | $11.3B |
| EPS, diluted | $5.83 | $5.81 | $5.02 | $4.52 | $7.26 |
| Diluted shares | 1.6B | 1.6B | 1.6B | 1.6B | 1.6B |
Balance sheet
| FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | |
|---|---|---|---|---|---|
| Cash & short-term investments | $4.5B | $3.2B | $3.1B | $4.2B | $4.9B |
| Receivables | $3.9B | $4.8B | $4.4B | $4.7B | $5.8B |
| Inventory | $8.7B | $9.9B | $10.8B | $9.5B | $11.5B |
| Total current assets | $17.7B | $19.6B | $19.8B | $20.2B | $24.4B |
| PP&E, net | $6.2B | $6.7B | $7.5B | $7.3B | $8.4B |
| Goodwill & intangibles | $9.5B | $26.4B | $26.6B | $27.9B | $28.1B |
| Total assets | $41.3B | $61.7B | $65.3B | $61.8B | $69.2B |
| Accounts payable | $3.3B | $4.1B | $4.1B | $4.0B | $4.4B |
| Total current liabilities | $19.3B | $27.3B | $26.4B | $22.9B | $25.4B |
| Long-term debt | $24.8B | $34.9B | $41.2B | $42.2B | $45.1B |
| Total liabilities | $49.5B | $68.0B | $74.8B | $71.7B | $77.2B |
| Shareholders' equity | −$8.2B | −$6.3B | −$9.4B | −$9.9B | −$8.0B |
Cash flow statement
Outflows are negative| FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | |
|---|---|---|---|---|---|
| Net income | $9.1B | $9.0B | $8.3B | $7.5B | $11.3B |
| Depreciation & amortization | $998.0M | $1.1B | $1.4B | $1.8B | $2.0B |
| Stock-based compensation | $210.0M | $183.0M | $0 | $0 | $0 |
| Change in working capital | $1.3B | $423.0M | −$842.0M | $677.0M | −$1.1B |
| Operating cash flow | $12.0B | $10.8B | $9.2B | $12.2B | $12.2B |
| Capital expenditure | −$748.0M | −$1.1B | −$1.3B | −$1.4B | −$1.6B |
| Free cash flow | $11.2B | $9.7B | $7.9B | $10.8B | $10.7B |
| Investing cash flow | −$2.4B | −$15.7B | −$3.6B | −$1.1B | −$4.5B |
| Net debt issued / repaid | −$3.0B | $14.2B | $3.7B | −$1.6B | $1.7B |
| Buybacks | −$775.0M | −$209.0M | $0 | $0 | $0 |
| Dividends paid | −$7.6B | −$7.8B | −$8.0B | −$8.2B | −$8.6B |
Ratio history
Margins on the fiscal-year (TTM at Q4) basis; multiples at each year end| FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | |
|---|---|---|---|---|---|
| Gross margin | 68.0% | 64.6% | 63.5% | 64.8% | 66.5% |
| Operating margin | 40.7% | 38.6% | 32.9% | 35.4% | 37.4% |
| Net margin | 29.0% | 28.5% | 22.2% | 18.6% | 27.9% |
| FCF margin | 35.7% | 30.6% | 22.4% | 28.4% | 26.3% |
| ROE | -80.4% | -94.9% | -77.4% | -61.4% | -104.2% |
| ROIC | 75.8% | 32.0% | 26.8% | 36.3% | 36.3% |
| ROA | 21.2% | 17.6% | 12.3% | 11.1% | 17.3% |
| Debt / equity | -2.75 | -4.81 | -4.27 | -3.89 | -4.89 |
| Interest coverage | 20.7x | 21.1x | 8.1x | 7.9x | 8.5x |
| Current ratio | 0.92 | 0.72 | 0.75 | 0.88 | 0.96 |
| Revenue growth | +9.4% | +1.1% | +10.7% | +7.7% | +7.2% |
| EPS growth | +13.1% | −0.3% | −13.8% | −9.8% | +60.4% |
| P/E at year end | 13.5x | 15.3x | 17.4x | 25.9x | 22.1x |
| EV / EBITDA at year end | 10.5x | 13.1x | 13.2x | 14.2x | 16.8x |
| FCF yield at year end | 9.10% | 7.04% | 5.81% | 5.90% | 4.27% |
| Dividend payout | 83.2% | 86.3% | 101.9% | 116.2% | 76.1% |
Revenue by segment
| FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | |
|---|---|---|---|---|---|
| Combustible Products | $22.2B | $21.6B | $22.3B | $23.2B | $23.8B |
| Reduced-Risk Products | $9.1B | $10.2B | $12.8B | $14.7B | $16.9B |
Revenue by region · FY2025
European Union$17.1B · 42%
SSEA, CIS & MEA Segment$12.1B · 30%
EA, AU & PMI GTR Segment$6.6B · 16%
Americas Segment$4.9B · 12%
Street estimates by fiscal year
Next report 2026-10-21 · consensus EPS $2.30 · these are analysts' numbers, not ours| Fiscal year | Revenue (mean) | Revenue range | EPS (mean) | EPS range | Analysts | P/E on mean EPS |
|---|---|---|---|---|---|---|
| 2026 | $43.6B | $43.3B – $43.8B | $8.40 | $8.34 – $8.44 | 6 | 24.4x |
| 2027 | $45.9B | $44.5B – $49.3B | $9.17 | $9.12 – $9.20 | 8 | 22.4x |
| 2028 | $48.7B | $47.2B – $50.7B | $10.01 | $9.54 – $10.38 | 3 | 20.5x |
Reported vs expected, every quarter on file
| Reported | EPS expected | EPS actual | EPS surprise | Revenue expected | Revenue actual | Revenue surprise |
|---|---|---|---|---|---|---|
| 2026-07-22 | $2.05 | $2.20 | +7.3% | $10.6B | $11.2B | +5.6% |
| 2026-04-22 | $1.86 | $1.96 | +5.4% | $10.0B | $10.1B | +1.9% |
| 2026-02-06 | $1.70 | $1.70 | 0.0% | $10.4B | $10.4B | −0.4% |
| 2025-10-21 | $2.09 | $2.24 | +7.2% | $10.6B | $10.8B | +2.0% |
| 2025-07-22 | $1.86 | $1.91 | +2.7% | $10.3B | $10.1B | −1.7% |
| 2025-04-23 | $1.61 | $1.69 | +5.0% | $9.1B | $9.3B | +1.7% |
| 2025-02-06 | $1.49 | $1.55 | +4.0% | $9.4B | $9.7B | +2.9% |
| 2024-10-22 | $1.82 | $1.91 | +4.9% | $9.7B | $9.9B | +2.4% |
| 2024-07-23 | $1.57 | $1.59 | +1.3% | $9.2B | $9.4B | +2.4% |
| 2024-04-23 | $1.41 | $1.50 | +6.4% | $8.4B | $8.8B | +4.1% |
| 2024-02-08 | $1.45 | $1.36 | −6.2% | $9.0B | $9.0B | +0.4% |
| 2023-10-19 | $1.61 | $1.67 | +3.7% | $8.9B | $9.1B | +2.2% |
| 2023-07-20 | $1.48 | $1.60 | +8.1% | $8.7B | $9.0B | +3.6% |
| 2023-04-20 | $1.34 | $1.38 | +3.0% | $8.1B | $8.0B | −1.1% |
| 2023-02-09 | $1.24 | $1.39 | +12.1% | $7.5B | $8.2B | +8.7% |
| 2022-10-20 | $1.36 | $1.53 | +12.5% | $7.3B | $8.0B | +9.8% |
| 2022-07-21 | $1.26 | $1.48 | +17.5% | $6.7B | $7.8B | +16.7% |
| 2022-04-21 | $1.49 | $1.56 | +4.7% | $7.4B | $7.7B | +4.3% |
| 2022-02-10 | $1.33 | $1.35 | +1.5% | $7.7B | $8.1B | +4.6% |
| 2021-10-19 | $1.55 | $1.58 | +1.9% | $7.9B | $8.1B | +2.4% |
| 2021-07-20 | $1.55 | $1.57 | +1.3% | $7.9B | $7.6B | −4.1% |
| 2021-04-20 | $1.40 | $1.57 | +12.1% | $6.7B | $7.6B | +13.8% |
| 2021-02-04 | $1.21 | $1.26 | +4.1% | $7.3B | $7.4B | +1.4% |
| 2020-10-20 | $1.36 | $1.42 | +4.4% | $7.1B | $7.4B | +4.4% |
Off-exchange (dark pool) volume, weekly
FINRA ATS, $ billions · through the week of 2026-08-31 (FINRA publishes with a delay)| Week of | Notional | Shares | Trades |
|---|---|---|---|
| 2026-08-31 | $854.9M | 4,554,916 | 89,843 |
| 2026-08-24 | $787.8M | 4,091,265 | 78,378 |
| 2026-08-17 | $985.3M | 5,230,401 | 96,943 |
| 2026-08-10 | $970.4M | 5,171,283 | 89,072 |
| 2026-08-03 | $1.4B | 7,392,285 | 109,924 |
| 2026-07-27 | $1.8B | 8,939,014 | 126,265 |
Short-sale share of off-exchange volume
daily 20-day average| Date | Short share | Short volume | Total volume |
|---|---|---|---|
| 2026-10-15 | 25.4% | 716,193 | 2,814,341 |
| 2026-10-14 | 44.1% | 652,628 | 1,479,163 |
| 2026-10-13 | 43.0% | 416,467 | 969,566 |
| 2026-10-12 | 31.4% | 480,496 | 1,528,969 |
| 2026-10-09 | 48.6% | 613,140 | 1,262,648 |
| 2026-10-08 | 61.8% | 1,261,359 | 2,041,060 |
| 2026-10-07 | 44.2% | 715,396 | 1,617,907 |
| 2026-10-06 | 37.4% | 797,927 | 2,131,696 |
| 2026-10-05 | 39.3% | 726,821 | 1,847,211 |
| 2026-10-02 | 59.2% | 606,523 | 1,023,681 |
A daily flow measure from FINRA, not short interest.
Seasonality
Average return by calendar month| Month | Avg return | Up years | Years |
|---|---|---|---|
| Jan | +0.3% | 50% | 18 |
| Feb | +4.0% | 67% | 18 |
| Mar | +1.5% | 74% | 19 |
| Apr | +1.5% | 67% | 18 |
| May | +0.6% | 61% | 18 |
| Jun | +0.2% | 50% | 18 |
| Jul | +3.3% | 72% | 18 |
| Aug | −1.4% | 39% | 18 |
| Sep | −1.2% | 39% | 18 |
| Oct | +1.4% | 50% | 18 |
| Nov | +0.6% | 39% | 18 |
| Dec | +1.0% | 72% | 18 |
History, not a forecast.
Indicators
as of 2026-10-16RSI 1464.0
MFI62.4
ADX19.4
Stochastic %K / %D79.2 / 83.5
Williams %R-21.0
CCI122
TSI / signal22.2 / 12.5
Chaikin money flow0.15
ATR$5.00
Bollinger width13.0%
Volume vs 20-day avg0.97x
SupertrendUp
Moving averages and bands
level (price vs level)SMA 20$193.80 (+5.9%)
SMA 50$190.92 (+7.5%)
SMA 200$179.60 (+14.3%)
EMA 21$195.68 (+4.9%)
EMA 50$191.81 (+7.0%)
EMA 200$180.29 (+13.8%)
Bollinger upper$206.42 (−0.6%)
Bollinger lower$181.18 (+13.3%)
Parabolic SAR$192.31 (+6.7%)
Open the live chart, 110+ indicatorsAbout Philip Morris International Inc.
Philip Morris International Inc. functions as a prominent tobacco enterprise, actively working toward a smoke-free future. The company is strategically diversifying its long-term product range to incorporate items beyond traditional tobacco and nicotine. Its primary business involves both conventional cigarettes and an expanding array of smoke-free alternatives, such as innovative heat-not-burn devices, vapor products, and oral nicotine solutions. These offerings are distributed in markets worldwide, with the exception of the United States. The smoke-free portfolio includes brands like HEETS (encompassing Creations, Dimensions, Marlboro variants), Parliament HeatSticks, and TEREA, in addition to KT&G-licensed brands Fiit and Miix. For conventional cigarettes, the company sells internationally recognized brands such as Marlboro, Parliament, Bond Street, Chesterfield, L&M, Lark, and Philip Morris. Regionally, it also owns major cigarette brands like Dji Sam Soe, Sampoerna A, and Sampoerna U in Indonesia, and Fortune and Jackpot in the Philippines. PMI's smoke-free innovations are currently available across 71 global markets. Established in 1987, Philip Morris International Inc. is headquartered in New York, New York.
https://www.pmi.com
Key executives
| Name | Title | Pay | Born |
|---|---|---|---|
| Jacek Olczak | Group CEO & Director | $7.1M | 1965 |
| Emmanuel Babeau | Strategic Advisor | $4.1M | 1967 |
| Frederic de Wilde | CEO of PMI International | $3.6M | 1967 |
| Stacey Kennedy | CEO of PMI U.S. | $3.4M | 1973 |
| Massimo Andolina | Group Chief Financial Officer | $3.0M | 1969 |
| Michael Voegele | Chief Digital & Information Officer | — | 1974 |
| Moira Gilchrist | Chief Communications Officer | — | — |
| Scott Coutts | Chief Global Operations Officer | — | — |
Executive pay, latest proxy
| Executive | Year | Salary | Stock awards | Incentive | Total |
|---|---|---|---|---|---|
| Stacey Kennedy, CEO PMI U.S. | 2025 | $0 | $0 | $0 | $1.3M |
| Jacek Olczak, Group CEO PMI | 2025 | $0 | $0 | $0 | $27,080 |
| Emmanuel Babeau, Group Chief Financial Officer | 2025 | $0 | $0 | $0 | $23,149 |
| Frederic de Wilde, CEO PMI International | 2025 | $0 | $0 | $0 | $18,446 |
| Massimo Andolina, President, Europe Region | 2025 | $0 | $0 | $0 | $12,334 |
Employees
Dividends
| Ex-date | Amount | Paid |
|---|---|---|
| 2026-10-02 | $1.6 | 2026-10-26 |
| 2026-06-25 | $1.47 | 2026-07-20 |
| 2026-03-19 | $1.47 | 2026-04-13 |
| 2025-12-26 | $1.47 | 2026-01-14 |
| 2025-10-03 | $1.47 | 2025-10-20 |
| 2025-06-27 | $1.35 | 2025-07-15 |
| 2025-03-20 | $1.35 | 2025-04-10 |
| 2024-12-26 | $1.35 | 2025-01-13 |
Moat model
Narrow · Efficient Scale · 2026-06-30Cost advantage68
Intangibles61
Switching costs72
Network effect70
Efficient scale80
Our component scores (0-100) and overall 69.4; a model of the business, not a call on the stock.
InsiderStreet reports findings from filings and market data. Nothing on this page is a recommendation to buy or sell.Every figure is computed in code · data as of 2026-10-17