Global tobacco and nicotine company transitioning from cigarettes toward smoke-free products including heated tobacco and oral nicotine.
Profile & Fundamentals
Philip Morris: Company identity, ownership, reported financial performance, balance sheets, and corporate actions.
Profile & Fundamentals
Philip Morris Profile & Fundamentals
Examine company identity, ownership, reported performance, valuation, balance-sheet resilience, dividends, buybacks, and material corporate events.
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Company and Market Context
Company Profile & Ownership
Philip Morris International Inc. operates as a tobacco company. The company offers cigarettes and smoke-free products, including heat-not-burn, e-vapor, and oral nicotine products under the IQOS, VEEV, and ZYN brands; and consumer accessories, such as lighters and matches. It also offers wellness products. The company was incorporated in 1987 and is headquartered in Stamford, Connecticut.
Company profile record
Philip Morris International Inc
Common Stock · Consumer Staples · Tobacco
Company
- Company / asset
- Philip Morris International Inc
- Security type
- Common Stock
- Sector
- Consumer Staples
- Industry
- Tobacco
- HQ
- 🇺🇸 United States
- Head office
- 677 Washington Boulevard, Stamford, CT, United States, 06901
Leadership & scale
- Chief executive
- Mr. Jacek Olczak
- CEO year born
- 1965
- Full-time employees
- 84.9K
- Fiscal year end
- December
- IPO date
- 2008-03-17
Fundamentals snapshot
- Market Cap
- USD 297.6B
- P/E
- 27.4x
- Revenue (Q2 26)
- USD 11.2B
- Profit (Q2 26)
- USD 2.8B
- Dividend Yield
- 2.2%
- Revenue (FY 25)
- USD 40.6B
- Shares in public float
- 1.6B
- Insider ownership
- 0.16%
Reporting & identifiers
- Symbol
- PM.NYSE
- Listing
- 🇺🇸 United States | Dividend Tax: 30%
- Ticker Currency
- USD
- Income Statement Currency
- USD
- Balance Sheet Currency
- USD
- Cash Flow Currency
- USD
- EPS Currency
- USD
- Contract Type
- SPOT
- ISIN
- US7181721090
- Asset ID
- equity_423118de-14b5-5c35-bf46-f4b456161668
Ownership
Shares Outstanding
Latest: 1.6B | Max: 1.6B | Min: 1.6B
Latest reported ownership snapshot
As of Oct 1, 2026Float Shares
99.48%
1.6B latest reported shares
Insider Ownership
0.16%
Latest reported insider stake
Short Float
0.01%
Latest reported short interest / float
Top Holders
Source tablesView ownership tables
Shares Outstanding
Annual reported shares outstanding; up to 10 reporting dates.
Scroll the table to see every column.
| Reporting date | Shares outstanding |
|---|---|
| 2017-01-01 | 1,554,000,000 |
| 2018-01-01 | 1,555,000,000 |
| 2019-01-01 | 1,557,000,000 |
| 2020-01-01 | 1,558,000,000 |
| 2021-01-01 | 1,557,000,000 |
| 2022-01-01 | 1,552,000,000 |
| 2023-01-01 | 1,554,000,000 |
| 2024-01-01 | 1,556,000,000 |
| 2025-01-01 | 1,558,000,000 |
| 2026-01-01 | 1,562,820,500 |
Top Holders
Available reported ownership records.
Scroll the table to see every column.
| Holder | Shares | Ownership | Reported date |
|---|---|---|---|
| Capital World Investors | 133,152,391 | 8.54% | 2026-06-30 |
| BlackRock Inc | 107,532,073 | 6.9% | 2026-03-31 |
| Vanguard Capital Management, LLC | 101,156,274 | 6.49% | 2026-03-31 |
| Capital Research Global Investors | 84,253,663 | 5.41% | 2026-06-30 |
| Capital Research & Mgmt Co - Division 3 | 72,252,261 | 4.64% | 2026-06-30 |
| State Street Corp | 55,033,026 | 3.53% | 2026-03-31 |
| JPMorgan Chase & Co | 51,591,197 | 3.31% | 2026-03-31 |
| Vanguard MStar Total Stk Mkt Idx Invest | 49,536,063 | 3.18% | 2026-08-31 |
| GQG Partners LLC | 45,436,985 | 2.92% | 2026-06-30 |
| FMR Inc | 44,770,603 | 2.87% | 2026-03-31 |
| American Funds Washington Mutual A | 44,395,893 | 2.85% | 2026-06-30 |
| Vanguard 500 Index Investor | 41,406,885 | 2.66% | 2026-08-31 |
| Geode Capital Management, LLC | 38,461,183 | 2.47% | 2026-03-31 |
| American Funds Fundamental Invs A | 36,553,926 | 2.35% | 2026-06-30 |
| American Funds American Balanced A | 36,158,865 | 2.32% | 2026-06-30 |
Earnings, Profitability & Valuation
Earnings, Profitability & Valuation
Earnings & Revenue
Earnings and Revenue Trajectory
AI Review
Top-line revenue shows powerful momentum, reaching $42.5 billion over the trailing twelve months, propelled by double-digit volume expansion in smoke-free products. Heated tobacco and modern oral pouches now generate over 42% of total company sales, successfully replacing shrinking cigarette volumes. While headline accounting profits experienced temporary swings due to a $511 million non-cash investment impairment in Canada, adjusted operating income reached a robust $16.06 billion, reflecting genuine underlying business health. Free cash flow generation remained outstanding at $12.72 billion, easily funding the board's recent 8.8% dividend increase. However, growth is becoming regionally uneven. International operations continue delivering strong profit growth, while domestic oral nicotine faces heavy promotional discounting that temporarily dampens profit conversion.
Top-line revenue shows powerful momentum, reaching $42.5 billion over the trailing twelve months, propelled by double-digit volume expansion in smoke-free products. Heated tobacco and modern oral pouches now generate over 42% of total company sales, successfully replacing shrinking cigarette volumes. While headline accounting profits experienced temporary swings due to a $511 million non-cash investment impairment in Canada, adjusted operating income reached a robust $16.06 billion, reflecting genuine underlying business health. Free cash flow generation remained outstanding at $12.72 billion, easily funding the board's recent 8.8% dividend increase. However, growth is becoming regionally uneven. International operations continue delivering strong profit growth, while domestic oral nicotine faces heavy promotional discounting that temporarily dampens profit conversion.
Revenue, Net Income, and Free Cash Flow
Latest: USD 40.6B | Max: USD 40.6B | Min: USD 2.2B
Valuation
P/E Ratio (TTM)iPublished valuation snapshots use the earnings basis recorded with each observation. Source tables retain that basis.
Latest: 22x
Profitability & Margins
Margins and Operating Efficiency
AI Review
Profitability margins have expanded structurally, with gross margin widening to 67.1% and operating margin reaching 36.7%. This expansion is powered by an advantageous product mix, because heated tobacco units and oral nicotine pouches command substantially higher profit margins than conventional cigarettes. Furthermore, steady 6% to 8% price increases on traditional cigarettes reliably outpace inflation. Looking ahead, profit margin expansion will encounter natural friction. To defend market leadership against aggressive competitor discounting in convenience stores, the company has increased promotional spending on oral pouches. While overall margins remain well protected by manufacturing scale, explosive margin surprises will be harder to achieve.
Profitability margins have expanded structurally, with gross margin widening to 67.1% and operating margin reaching 36.7%. This expansion is powered by an advantageous product mix, because heated tobacco units and oral nicotine pouches command substantially higher profit margins than conventional cigarettes. Furthermore, steady 6% to 8% price increases on traditional cigarettes reliably outpace inflation. Looking ahead, profit margin expansion will encounter natural friction. To defend market leadership against aggressive competitor discounting in convenience stores, the company has increased promotional spending on oral pouches. While overall margins remain well protected by manufacturing scale, explosive margin surprises will be harder to achieve.
Profitability Margins
Latest: 67.1% | Max: 67.1% | Min: 7.1%
Latest Profitability Ratios as of 2025-12-31
Gross Margin
67.1%
Gross profit / revenue
Operating Margin
36.7%
Operating income / revenue
Net Margin
27.9%
Net income / revenue
FCF Margin
26.2%
Free cash flow / revenue
Source tablesView earnings, profitability & valuation tables
Revenue, Net Income, and Free Cash Flow
Annual reported results, using the source statement's recorded USD conversion. Up to 10 reporting periods; missing values are not estimated.
Scroll the table to see every column.
| Period end | Revenue (USD) | Net income (USD) | Free cash flow (USD) |
|---|---|---|---|
| 2016-12-31 | 26,685,000,000 | 6,967,000,000 | 6,905,000,000 |
| 2017-12-31 | 28,748,000,000 | 6,035,000,000 | 7,364,000,000 |
| 2018-12-31 | 29,625,000,000 | 7,911,000,000 | 8,042,000,000 |
| 2019-12-31 | 29,805,000,000 | 7,185,000,000 | 9,238,000,000 |
| 2020-12-31 | 28,694,000,000 | 8,056,000,000 | 9,210,000,000 |
| 2021-12-31 | 31,405,000,000 | 2,229,000,000 | 11,219,000,000 |
| 2022-12-31 | 31,762,000,000 | 9,048,000,000 | 9,726,000,000 |
| 2023-12-31 | 35,174,000,000 | 7,791,000,000 | 7,883,000,000 |
| 2024-12-31 | 37,878,000,000 | 7,034,000,000 | 10,773,000,000 |
| 2025-12-31 | 40,648,000,000 | 11,348,000,000 | 10,664,000,000 |
Published P/E Ratio
Published valuation snapshots retain each observation's earnings basis.
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| Period end | P/E (times earnings) | Earnings basis |
|---|---|---|
| 2025-12-31 | 22.02 | Trailing four quarters |
| 2024-12-31 | 26.54 | Trailing four quarters |
| 2023-12-31 | 18.71 | Trailing four quarters |
| 2022-12-31 | 17.36 | Annual net income |
| 2021-12-31 | 66.36 | Annual net income |
Profitability Margins
Matching annual reporting dates. Values are percentages.
Scroll the table to see every column.
| Period end | Gross margin (%) | Operating margin (%) | Net margin (%) | Free cash flow margin (%) |
|---|---|---|---|---|
| 2016-12-31 | 64.81 | 40.86 | 26.11 | 25.88 |
| 2017-12-31 | 63.71 | 40.27 | 20.99 | 25.62 |
| 2018-12-31 | 63.69 | 38.26 | 26.7 | 27.15 |
| 2019-12-31 | 64.73 | 35.33 | 24.11 | 30.99 |
| 2020-12-31 | 66.65 | 40.84 | 28.08 | 32.1 |
| 2021-12-31 | 16.87 | 9.38 | 7.1 | 35.72 |
| 2022-12-31 | 64.1 | 38.56 | 28.49 | 30.62 |
| 2023-12-31 | 63.35 | 32.85 | 22.15 | 22.41 |
| 2024-12-31 | 64.81 | 35.38 | 18.57 | 28.44 |
| 2025-12-31 | 67.12 | 36.74 | 27.92 | 26.23 |
Public data excerpt created by iPulse AI and published by Future Edge Group FZE. Source: eodhd. Snapshot retrieved 2026-09-29.
Use is subject to the iPulse AI Terms of Service and applicable source rights. Missing inputs are not estimated. Full access includes the remaining records, research and interactive tools.
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