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Philip Morris International

PM

Philip Morris International is a leading international consumer goods company transitioning from traditional combustible tobacco to a smoke-free future.

Market cap
$291.56B+4.7%
Revenue$41.5B+8.1%
Net income$11.1B+35.7%
Free cash flow$10.7B+4.6%
EPS (diluted)$7.11+35.9%
Trailing twelve months · change vs. prior year

Earnings

Next report

Jul 22, 2026 (In 1 week)
Revenue estimate$10.6B
EPS estimate$2.03

Financials

Q1 2026

Income statement

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Revenue$10.1B+9.1%
Gross profit$6.9B+10.1%
Operating income$3.9B+9.8%
Net income$2.4B-9.4%
EPS (diluted)$1.56-9.3%

Balance sheet

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Cash & equivalents$5.5B+22.2%
Total debt$52.0B+4.8%
Total equity-$9.3B+14.9%
Total assets$68.9B+5.9%

Cash flow

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Operating cash flow-$399.0M-14.0%
CapEx$353.0M-12.6%
Free cash flow-$752.0M+0.3%

Valuation & ratios

Valuation

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Market cap$292.68B+4.7%
Enterprise value$339.25B+3.8%
P/E26.4×-5.3×
P/S7.1×-0.1×

Profitability

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Gross margin67.3%+1.6pp
Operating margin36.7%+0.5pp
Net margin26.7%+5.4pp
FCF margin25.7%-0.9pp

Returns & leverage

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Current ratio+0.2×

Segments

By segment

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International Combustibles$5.7B
International Smoke-Free$3.8B

By product

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Combustible Tobacco Products$5.8B+6.7%
Smoke-Free Products$4.4B+12.4%

Competitors

Profile

Philip Morris International is a leading international consumer goods company transitioning from traditional combustible tobacco to a smoke-free future. The company develops and commercializes innovative smoke-free products, including heat-not-burn, nicotine pouches, and e-vapor technologies, while maintaining a significant global presence in the cigarette market. Its long-term strategy includes expanding into wellness and healthcare areas through its life sciences expertise.

Competitive position

A global leader in the tobacco industry currently undergoing a massive structural shift to dominate the emerging smoke-free and reduced-risk nicotine categories.

GeographiesGlobal, Europe, Asia, Middle East, Africa, Americas
Customer segmentsAdult consumers
Business modelManufacturing, Direct-to-consumer, B2B Distribution
SuppliersTobacco leaf farmers, Independent international tobacco suppliers, Electronic manufacturing services (EMS) providers, Paper and packaging suppliers, Acetate tow manufacturers
CustomersIndependent distributors, National and regional wholesalers, Retailers, Direct-to-consumer e-commerce
Listed2008
Employees82.7K
CEOJacek Olczak
IndustryTobacco
Websitepmi.com
FilingsSEC EDGAR

Questions, answered.

What is Philip Morris International's market cap?
Philip Morris International (PM) has a market capitalization of $291.56B and trades on NYSE.
What is Philip Morris International's revenue and profitability?
Philip Morris International generated $41.5B in trailing twelve-month revenue with net income of $11.1B, representing a net margin of 26.7%. Gross margin stands at 67.3%, with free cash flow of $10.7B. These figures are based on the Q1 2026 filing.
Who are Philip Morris International's competitors?
Philip Morris International's key competitors include Altria Group, Inc., British American Tobacco p.l.c., Universal Corporation, and others. These companies compete in similar markets and product categories.
Who does Philip Morris International partner with?
Philip Morris International's notable partners include KT&G, Altria Group, Inc., British American Tobacco p.l.c..
What subsidiaries does Philip Morris International have?
Philip Morris International's subsidiaries include Swedish Match AB, Philip Morris Products S.A..
Where is Philip Morris International headquartered?
Philip Morris International is headquartered in United States of America and employs approximately 82,700 people. It has been publicly traded since 2008.