Total Cost of Revenue
Philip Morris International Total Cost of Revenue decreased by 9.0% to $3.24B in Q1 2026 compared to the prior quarter. Year-over-year, this metric grew by 6.9%, from $3.03B to $3.24B. Over 4 years (FY 2021 to FY 2025), Total Cost of Revenue shows an upward trend with a 7.4% CAGR. This increase may warrant attention — for this metric, lower values are generally preferred.
Analysis
How to read this metric
An increase relative to revenue suggests rising production costs or margin compression, while a decrease suggests improved operational efficiency.
Detailed definition
Total cost of revenue includes the direct costs attributable to the production of goods or the delivery of services sold...
Peer comparison
Varies by industry; for medical device manufacturers, this includes significant manufacturing and supply chain costs.
total_cost_of_revenueHistorical Data
| Q2 '21 | Q3 '21 | Q4 '21 | Q1 '22 | Q2 '22 | Q3 '22 | Q4 '22 | Q1 '23 | Q2 '23 | Q3 '23 | Q4 '23 | Q1 '24 | Q2 '24 | Q3 '24 | Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | Q1 '26 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Value | $2.35B | $2.60B | $2.81B | $2.61B | $2.65B | $2.94B | $3.21B | $3.04B | $3.23B | $3.17B | $3.46B | $3.20B | $3.35B | $3.37B | $3.42B | $3.03B | $3.28B | $3.49B | $3.56B | $3.24B |
| QoQ Change | — | +10.3% | +8.1% | -7.1% | +1.5% | +10.8% | +9.4% | -5.4% | +6.3% | -2.0% | +9.4% | -7.7% | +4.7% | +0.6% | +1.7% | -11.5% | +8.2% | +6.3% | +2.1% | -9.0% |
| YoY Change | — | — | — | — | +12.5% | +13.1% | +14.4% | +16.5% | +21.9% | +7.8% | +7.8% | +5.2% | +3.6% | +6.4% | -1.1% | -5.1% | -2.0% | +3.6% | +4.0% | +6.9% |
Business Segments — SSEA, CIS & MEA
| Segment | Q1 '24 | Q2 '24 | Q3 '24 | Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 |
|---|---|---|---|---|---|---|---|---|
| SSEA, CIS & MEA | $1.24B | $1.31B | $1.36B | $1.40B | $1.20B | $1.24B | $1.36B | $1.39B |
| Europe | $1.03B | $1.13B | $1.17B | $1.16B | $982.00M | $1.13B | $1.18B | $1.22B |
| Americas | $354.00M | $380.00M | $372.00M | $425.00M | $370.00M | $420.00M | $418.00M | $506.00M |
| EA, AU & PMI GTR | $577.00M | $528.00M | $468.00M | — | $488.00M | $489.00M | $535.00M | $449.00M |
| EA, AU & PMI DF | $502.75M | $502.75M | $502.75M | $502.75M | — | — | — | — |
| Wellness and Healthcare | $67.00M | $67.00M | $67.00M | $67.00M | — | — | — | — |
| Total | $3.20B | $3.35B | $3.37B | $3.42B | $3.03B | $3.28B | $3.49B | $3.56B |
EA, AU & PMI DF, Wellness and Healthcare are derived from annual filings.
Americas, EA, AU & PMI DF, EA, AU & PMI GTR, Europe, SSEA, CIS & MEA, Wellness and Healthcare were previously reported and have since been discontinued or reclassified. Only currently active segments are shown in the chart.
Business Segments — International Combustibles
| Segment | Q1 '26 |
|---|---|
| International Combustibles | $1.85B |
| International Smoke-Free | $1.15B |
| Total | $3.24B |
Total Cost of Revenue at Other Companies
Frequently Asked Questions
- What is Philip Morris International's total cost of revenue?
- Philip Morris International (PM) reported total cost of revenue of $3.24B in Q1 2026.
- How has Philip Morris International's total cost of revenue changed year-over-year?
- Philip Morris International's total cost of revenue increased by 6.9% year-over-year, from $3.03B to $3.24B.
- What is the long-term trend for Philip Morris International's total cost of revenue?
- Over 4 years (2021 to 2025), Philip Morris International's total cost of revenue has grown at a 7.4% compound annual growth rate (CAGR), from $10.03B to $13.36B.
- What does total cost of revenue mean?
- The direct costs incurred to produce the goods or services that a company sold during a specific period.