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Discontinued — last reported Q4 '25

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Segments

By segment

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International Smoke-Free$90M
International Combustibles$69M

Other financials

Income statement

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Revenue$11.2B+10.4%
Gross profit$7.7B+11.6%
Operating income$4.5B+22.0%
Net income$2.8B-7.3%
EPS (diluted)$1.80-7.7%

Balance sheet

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Cash & equivalents$6.0B+44.3%
Total debt$49.2B-4.5%
Total equity-$8.6B+28.3%
Total assets$68.3B-0.3%

Cash flow

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Operating cash flow$5.5B+61.0%
CapEx$380.0M+6.7%
Free cash flow$5.1B+67.3%

Valuation

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Market cap$295.47B+11.4%
Enterprise value$338.65B+8.4%
P/E27.2×-2.9×
P/S6.9×+0.2×

Profitability

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Gross margin67.5%+1.1pp
Operating margin37.7%+1.5pp
Net margin25.6%+3.0pp
FCF margin29.9%+6.9pp

Returns & leverage

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Return on equity-105.8%
Debt / equity-5.7×
Current ratio+0.1×

Where this comes from

Reported directly by Philip Morris International in its filing.

Tagged under the XBRL concept us-gaap:DepreciationDepletionAndAmortization.

The source filing: Philip Morris International’s 10-K, filed February 6, 2026.

Filed
Feb 6, 2026, 7:14 AM EST
Fiscal year
FY2025
Accession
0001628280-26-005939
for the years ended December 31,202520242023
CASH PROVIDED BY (USED IN) OPERATING ACTIVITIES
Net earnings$11,848$7,503$8,268
Adjustments to reconcile net earnings to operating cash flows:
Depreciation and amortization expense1,9961,7871,398
Impairment of goodwill and other intangibles (Note 4)4127680
Losses on sales of businesses (including held-for-sale) (Note 3)94206
Impairment related to the RBH equity investment (Note 5)2,316
Deferred income tax (benefit) provision(847)(123)(330)

Item 8.Financial Statements and Supplementary Data.

FAQ

What is Philip Morris International's D&A?
Philip Morris International (PM) reported D&A of $499M in Q4 2025.
How has Philip Morris International's D&A changed year-over-year?
Philip Morris International's D&A increased by 11.7% year-over-year, from $446.75M to $499M.
What is the long-term trend for Philip Morris International's D&A?
Over 3 years (2021 to 2025), Philip Morris International's D&A has grown at a 175.0% compound annual growth rate (CAGR), from $96M to $2B.
What does D&A mean?
Non-cash expense representing the systematic allocation of tangible asset costs (depreciation) and intangible asset costs (amortization) over their useful lives.

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