What are Philip Morris International's profit margins?

Philip Morris International (PM) runs a 67.3% gross margin and a 36.7% operating margin, with a 26.7% net margin.

Where do Philip Morris International's ratios come from?

Every ratio is computed from Philip Morris International's SEC filings — trailing-twelve-month flows over period-end balances. Valuation multiples combine those fundamentals with market data, recomputed each period. Switch between quarterly, annual, and TTM, or open any ratio for its full history and peer comparisons.

Philip Morris International PM Ratios & Valuation

Income Statement Balance Sheet Cash Flow Ratios Segments

Quarterly Annual TTM

YoY QoQ

Simplified Detailed

	Q1 '26	Q4 '25	Q3 '25	Q2 '25	Q1 '25
Profitability
Gross margin	67.3%+1.6pp	67.1%+2.3pp	66.9%+2.9pp	66.5%+2.6pp	65.7%+2.0pp
Operating margin	36.7%+0.5pp	36.6%+1.3pp	37%+1.9pp	36.3%+1.3pp	36.2%+3.2pp
Net margin	26.7%+5.4pp	27.9%+7.8pp	23%-3.4pp	22.6%-1.6pp	21.3%-0.9pp
EBITDA margin	41.6%+0.5pp	41.5%+1.5pp	41.8%+2.3pp	41.2%+1.8pp	41.1%+4.0pp
Free cash flow margin	25.7%-0.9pp	26.2%-2.2pp	25.3%-1.7pp	23%-4.8pp	26.6%+1.7pp
Returns
Return on assets	16.6%+4.0pp	17.3%+5.3pp	13.7%-1.4pp	13.1%-0.7pp	12.5%0.0pp
Return on invested capital	34.4%+4.1pp	36.7%+5.5pp	32.9%+3.6pp	31.5%+3.5pp	30.3%+5.2pp
Efficiency
Asset turnover	0.6×0.0×	0.6×0.0×	0.6×0.0×	0.6×0.0×	0.6×0.0×
Inventory turnover	1.3×0.0×	1.3×0.0×	1.3×-0.1×	1.3×-0.1×	1.3×0.0×
Liquidity
Current ratio	1×+0.2×	1×+0.1×	0.8×0.0×	0.8×-0.1×	0.8×-0.2×
Quick ratio	0.5×+0.1×	0.5×0.0×	0.5×0.0×	0.4×-0.1×	0.4×-0.1×
Cash ratio	0.2×0.0×	0.2×0.0×	0.2×0.0×	0.1×-0.1×	0.2×0.0×
Leverage
Debt-to-assets	0.8×0.0×	0.7×0.0×	0.7×0.0×	0.8×0.0×	0.8×0.0×
Net debt / EBITDA	2.7×-0.2×	2.7×-0.1×	2.8×-0.3×	2.9×-0.1×	2.9×-0.6×
Valuation
Market capitalization	$257.69B+4.3%	$249.68B+33.4%	$252.48B+33.7%	$287.16B+82.5%	$247.06B+73.6%
Enterprise value	$304.25B+4.1%	$294.44B+28.4%	$298.59B+27.7%	$334.54B+65.9%	$292.23B+54.9%
Price / earnings	23.2×-7.0×	22×-2.5×	27.4×+8.2×	32.6×+14.7×	30.2×+12.3×
Price / sales	6.2×-0.2×	6.1×+1.2×	6.3×+1.2×	7.4×+3.0×	6.4×+2.5×
EV / EBITDA	17.6×-0.9×	17.5×+2.3×	17.9×+2.0×	20.8×+6.7×	18.5×+4.4×
EV / sales	7.3×-0.3×	7.2×+1.2×	7.5×+1.2×	8.6×+3.0×	7.6×+2.4×
Free cash flow yield	4.1%0.0pp	4.3%-1.5pp	4%-1.3pp	3.1%-3.3pp	4.1%-2.2pp
Earnings yield	4.3%+1.0pp	4.5%+0.5pp	3.6%-1.6pp	3.1%-2.5pp	3.3%-2.3pp
Dividend yield	3.4%+0.1pp	3.5%-0.9pp	3.3%-1.0pp	2.9%-2.2pp	3.3%-2.3pp
PEG ratio	0.7×-10.7×	0.5×—	——	409.9×+408×	11.4×—

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Questions, answered.

What are Philip Morris International's profit margins?: Philip Morris International (PM) runs a 67.3% gross margin and a 36.7% operating margin, with a 26.7% net margin.
Where do Philip Morris International's ratios come from?: Every ratio is computed from Philip Morris International's SEC filings — trailing-twelve-month flows over period-end balances. Valuation multiples combine those fundamentals with market data, recomputed each period. Switch between quarterly, annual, and TTM, or open any ratio for its full history and peer comparisons.