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Philip Morris International PM Return on invested capital

Return on invested capital at other companies

Altria Group logo
Altria GroupMO
52%-13.9pp
Church & Dwight logo
Church & DwightCHD
13.9%+3.8pp

Other financials

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

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Market cap$278.05B+4.3%
Enterprise value$324.61B+4.1%
P/E25.1×-7.5×
P/S6.7×-0.2×

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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Return on equity-110%
Debt / equity-5.6×
Current ratio+0.2×

Where this comes from

Calculated from Philip Morris International’s reported figures.

Based on trailing twelve months.

The official record: Philip Morris International’s 10-Q, filed April 24, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Philip Morris International's return on invested capital?
Philip Morris International (PM) reported return on invested capital of 34.4% in Q1 2026.
How has Philip Morris International's return on invested capital changed year-over-year?
Philip Morris International's return on invested capital increased by 13.6% year-over-year, from 30.3% to 34.4%.
What is the long-term trend for Philip Morris International's return on invested capital?
Over 5 years (2020 to 2025), Philip Morris International's return on invested capital has grown at a -12.3% compound annual growth rate (CAGR), from 70.7% to 36.7%.
What does return on invested capital mean?
The after-tax return the business earns on all the capital — debt and equity — invested in it.
How do you interpret return on invested capital?
The cleanest measure of business quality: ROIC sustained above the cost of capital creates value, below it destroys value. Compare against WACC, not against zero.
How does return on invested capital compare across companies?
Highly comparable across companies as a quality screen. Sector-sensitive definitions of invested capital mean banks/insurers are best excluded.