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Philip Morris International PM

US equityMarket cap rank #45Tobacco
$191.75
+$0.91 (+0.48%)
Market open · Sep 24, 1:10 pm ET
After hours $191.00 +0.08%
Open$192.04
Prev close$190.84
Day range$191.48 – $194.65
Volume1.22M
Market cap$298.86B
P/E (TTM)27.6
Dividend yield3.07%

Fundamentals

Latest reported quarter: Q2, ended Jun 2026

Revenue$11.19B+10.4% YoY
Operating profit$4.53B+20.7% YoY
Net profit$2.99B-5.2% YoY
Diluted EPS$1.80-7.7% YoY
Free cash flow$5.11B+67.3% YoY
Operating cash flow$5.49B

Revenue, last 8 quarters

$9.9BSep '24$9.7BDec '24$9.3BMar '25$10.1BJun '25$10.8BSep '25$10.4BDec '25$10.1BMar '26$11.2BJun '26

Net profit, last 8 quarters

$3.2BSep '24$-486.0MDec '24$2.8BMar '25$3.1BJun '25$3.6BSep '25$2.3BDec '25$2.6BMar '26$3.0BJun '26

Diluted EPS by quarter

1.97Sep '24-0.38Dec '241.72Mar '251.95Jun '252.23Sep '251.37Dec '251.56Mar '261.80Jun '26

Free cash flow by quarter

$3.0BSep '24$3.7BDec '24$-754.0MMar '25$3.1BJun '25$4.1BSep '25$4.3BDec '25$-752.0MMar '26$5.1BJun '26

Annual revenue

$28.7BFY20$31.4BFY21$31.8BFY22$35.2BFY23$37.9BFY24$40.6BFY25

Profitability & balance sheet

Gross margin67.5%
Operating margin37.7%
Net margin25.5%
Return on assets15.9%
Current ratio0.98
Liabilities / assets109.8%
Cash & investments$6.00B
Total debt$49.11B
Net cash (debt)-$43.11B
Free cash flow / sales29.9%

Where the revenue comes from

Quarter 2026/Q2

By business line

  • Combustible tobacco$6.55B 58.5%
  • Smoke-free$4.65B 41.5%

Income statement

Line item 2026 Q2 2026 Q1 2025 ANNUAL 2025 Q4 2025 Q3
Total Revenue as Reported $11.19B $10.15B $40.65B $10.36B $10.85B
Total Operating Revenue $11.19B $10.15B $40.65B $10.36B $10.85B
Cost of Revenue $3.53B $3.24B $13.37B $3.56B $3.49B
Gross Profit $7.66B $6.91B $27.28B $6.80B $7.36B
Operating Expense $3.13B $3.01B $12.35B $3.43B $3.10B
Selling and Admin Expenses $2.98B $3.01B $12.35B $3.43B $3.10B
Other Operating Expenses $148.00M
Operating Profit $4.53B $3.89B $14.93B $3.37B $4.26B
Net Non-Operating Interest Income (Expense) -$243.00M -$237.00M -$966.00M -$218.00M -$230.00M
Non-Operating Interest Expense $243.00M $237.00M $1.59B $839.00M $230.00M
Other Income (Expense) $5.00M $5.00M -$87.00M -$9.00M -$14.00M
Special Income (Charges) $0.00 -$41.00M $0.00
-Less:Impairment of Capital Assets $0.00 $41.00M $0.00
Other Non-Operating Income (Expenses) $5.00M $5.00M -$46.00M -$9.00M -$14.00M
Pretax Profit $4.29B $3.66B $13.88B $3.15B $4.02B
Tax $955.00M $676.00M $2.74B $675.00M $751.00M
Earnings from Equity Interest Net of Tax $159.00M -$403.00M $705.00M -$221.00M $345.00M
Net Profit $2.99B $2.58B $11.85B $2.25B $3.61B
Profit from Continuing Operations $3.50B $2.58B $11.85B $2.25B $3.61B
Net Income Extraordinary -$511.00M $0.00
Minority Interests $168.00M $144.00M $500.00M $109.00M $135.00M
Net Income to Parent Company $2.82B $2.44B $11.35B $2.14B $3.48B
Other Preferred Stock Dividends $7.00M $7.00M $32.00M $6.00M $10.00M
Net Income to Common Stockholders $2.81B $2.43B $11.32B $2.14B $3.47B
Basic EPS $1.80 $1.56 $7.27 $1.37 $2.23
Diluted EPS $1.80 $1.56 $7.26 $1.37 $2.23
Dividend Per Share $1.47 $1.47 $5.64 $1.47 $1.47
Non-Operating Interest Income $621.00M

Balance sheet

Line item 2026 Q2 2026 Q1 2025 ANNUAL 2025 Q4 2025 Q3
Total Assets $68.27B $68.91B $69.19B $69.19B $67.06B
Total Current Assets $26.01B $25.60B $24.36B $24.36B $22.67B
Cash and Cash Equivalents & Short-Term Investments $6.00B $5.45B $4.87B $4.87B $4.04B
-Cash and Cash Equivalents $6.00B $5.45B $4.87B $4.87B $4.04B
Receivables $6.47B $6.39B $5.81B $5.81B $5.82B
-Accounts Receivable $5.18B $5.12B $4.57B $4.57B $4.80B
-Other Receivables $1.30B $1.27B $1.24B $1.24B $1.03B
Inventory $11.44B $11.39B $11.48B $11.48B $10.27B
Other Current Assets $2.10B $2.37B $2.20B $2.20B $2.54B
Total Non-Current Assets $42.27B $43.31B $44.82B $44.82B $44.40B
Net PPE $8.31B $8.26B $8.40B $8.40B $8.12B
-Gross PPE $19.56B $19.45B $19.62B $19.62B $19.19B
-Accumulated Depreciation -$11.24B -$11.19B -$11.22B -$11.22B -$11.07B
Investments and Advances $2.13B $2.48B $2.89B $2.89B $3.13B
-Long Term Equity Investment $2.13B $2.48B $2.89B $2.89B $3.13B
Goodwill and Other Intangible Assets $27.10B $27.58B $28.15B $28.15B $28.33B
-Goodwill $16.92B $17.07B $17.26B $17.26B $17.18B
-Other Intangible Assets $10.18B $10.51B $10.88B $10.88B $11.15B
Non-Current Deferred Assets $1.14B $1.20B $1.25B $1.25B $1.06B
Other Non-Current Assets $3.59B $3.80B $4.14B $4.14B $3.76B
Total Liabilities $74.93B $76.21B $77.21B $77.21B $76.05B
Total Current Liabilities $26.54B $26.22B $25.43B $25.43B $26.72B
Payables $13.88B $12.44B $15.53B $15.53B $12.46B
-Accounts Payable $3.92B $3.93B $4.41B $4.41B $3.98B
-Total Tax Payable $7.65B $6.20B $8.81B $8.81B $6.17B
-Dividends Payable $2.31B $2.31B $2.31B $2.31B $2.31B
Current Accrued Expenses $4.62B $4.42B $4.65B $4.65B $4.64B
Short-Term Debt and Capital Lease Obligation $6.75B $8.14B $3.70B $3.70B $8.22B
-Current Debt $6.75B $8.14B $3.70B $3.70B $8.22B
Total Non-Current Liabilities $48.39B $49.99B $51.79B $51.79B $49.33B
Long Term Debt and Capital Lease Obligation $42.37B $43.81B $45.13B $45.13B $41.86B
-Long Term Debt $42.37B $43.81B $45.13B $45.13B $41.86B
Non-Current Deferred Liabilities $2.06B $2.01B $2.07B $2.07B $2.00B
Employee Benefits $2.25B $2.34B $2.41B $2.41B $3.22B
Other Non-Current Liabilities $1.71B $1.83B $2.18B $2.18B $2.24B
Total Equity -$6.66B -$7.30B -$8.03B -$8.03B -$8.98B
Stockholders' Equity -$8.58B -$9.28B -$9.99B -$9.99B -$10.91B
Capital Stock $0.00 $0.00 $0.00 $0.00 $0.00
-Common Stock $0.00 $0.00 $0.00 $0.00 $0.00
Additional Paid-In Capital $2.48B $2.43B $2.45B $2.45B $2.40B
Retained Earnings $36.06B $35.54B $35.40B $35.40B $35.56B
Less: Treasury Stock $35.46B $35.46B $35.55B $35.55B $35.55B
Gains/Losses Not Affecting Retained Earnings -$11.66B -$11.79B -$12.30B -$12.30B -$13.32B
Minority Interests $1.93B $1.98B $1.97B $1.97B $1.93B

Cash flow

Line item 2026 Q2 2026 Q1 2025 ANNUAL 2025 Q4 2025 Q3
Operating Cash Flow $5.49B -$399.00M $12.23B $4.71B $4.46B
Net cash flow from continuing operations $5.49B -$399.00M $12.23B $4.71B $4.46B
Net Income from Continuing Operations $2.99B $2.58B $11.85B $2.25B $3.61B
Depreciation & Depletion & Amortization $513.00M $510.00M $2.00B $521.00M $505.00M
Deferred Tax $57.00M -$67.00M -$847.00M -$414.00M -$159.00M
Other Non-Cash Items -$112.00M $449.00M $909.00M $238.00M $388.00M
Change in Working Capital $1.54B -$3.87B -$1.81B $2.02B $115.00M
-Change in Receivables -$50.00M -$640.00M -$448.00M $261.00M $71.00M
-Change in Inventory -$69.00M -$11.00M -$1.20B -$1.15B $371.00M
-Change in Payables and Accrued Expense $1.69B -$3.05B $107.00M $2.61B -$374.00M
-Change In Other Working Capital -$29.00M -$171.00M -$266.00M $298.00M $47.00M
Net cash flow from investing $26.00M -$3.00M -$3.97B -$428.00M -$789.00M
Net Cash Flow from Continuing Investing Activities $26.00M -$3.00M -$3.97B -$428.00M -$789.00M
Capital Expenditure -$380.00M -$353.00M -$1.57B -$444.00M -$365.00M
Net Business Purchase and Sale $77.00M -$35.00M -$33.00M -$17.00M -$13.00M
Net Investment Purchase and Sale $98.00M $90.00M -$86.00M $2.23B -$2.24B
Net Other Investing Changes $231.00M $295.00M -$2.28B -$2.20B $1.83B
Financing Cash Flow -$4.98B $1.10B -$8.13B -$3.58B -$3.66B
Net Cash Flow from Continuing Financing Activities -$4.98B $1.10B -$8.13B -$3.58B -$3.66B
Net Issuance Payments Of Debt -$2.73B $3.38B $1.71B -$1.31B -$1.41B
Cash Dividends Paid -$2.30B -$2.31B -$8.62B -$2.30B -$2.11B
Net Other Financing Charges $56.00M $22.00M -$1.21B $21.00M -$143.00M
Ending Cash Balance $6.02B $5.47B $4.89B $4.89B $4.06B
Net Change in Cash $543.00M $694.00M $134.00M $700.00M $12.00M
Beginning Cash Balance $5.47B $4.89B $4.25B $4.06B $4.18B
Effect of Exchange Rate Changes $11.00M -$116.00M $504.00M $131.00M -$127.00M
Free Cash Flow $5.11B -$752.00M $10.66B $4.27B $4.10B
Gain/Loss from Continuing Operations $94.00M
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