Philip Morris International is a tobacco company that sells cigarettes such as Marlboro outside the US. Smoke-free products such as the IQOS heated tobacco device and Zyn nicotine pouches are increasingly important. The company operates in a great many countries. As of Oct 11, 2026
As of Oct 11, 2026Fact sheet (from the annual report)Cigarettes and tobacco products · Stamford, USAfull fact sheet
Philip Morris International is a consumer goods holding company whose range consists mainly of cigarettes and smoke-free products. Smoke-free products include heated tobacco devices, nicotine pouches and electronic vapor products. With the acquisition of Swedish Match, the IQOS and ZYN brands came together, and in cigarettes Marlboro is part of the offering. Since January 2026 the group has organized its reporting segments into smoke-free international, combustibles international and the US business. Sales run directly to retailers, through independent distributors or through wholesalers that supply the trade. In addition, there are its own online platforms and its own brand stores for smoke-free products and accessories.
Our own calculation from the exchange’s daily candles, as of Oct 27, 2026. “All-time” applies since the start of this series, not to the whole market. Changes in percent; the TradingView chart shows prices. “Today” = change of the last trading day versus the previous day. Not investment advice.
Pullback in trend · Analysis method
This method currently detects no pattern for PM. The check runs daily after the close.
You see new patterns immediately from Watcher, on the free plan 2 days after they form. Plans and pricing
What does the pattern show?
What is this? In an intact uptrend (price above the 200-day line, 50-day line rising), the price pulls back to the 50-day line after a rise and closes back above it.
SEC filing (10-K, 10-Q)Required reports of listed companies to the US Securities and Exchange Commission (SEC): 10-K is the annual report, 10-Q the quarterly report, 20-F the annual report of foreign companies. We show the figures of the first filing.Example: 10-K for the fiscal year ending Sep 27, 2025, filed on Oct 31, 2025.More in the Academy: Lesson revenue, profit and margin
Philip Morris International · Sector Consumer Staples · amounts in USD
Information only – does not affect the other analysis methods, not investment advice. Source: SEC filings, As of Feb 6, 2026.
Quality checks
Four angles on the annual figures. Each check counts how many disclosed criteria are met – criteria without data do not count. The bars show where the company ranks on each figure among the stocks we cover and within its sector.
–no data: Return on equity above 15%negative equity
✓met: Free cash flow margin above 10%26.2%
✓met: Profit in each of the last 5 fiscal years5 of 5
✓met: Free cash flow positive in each of the last 3 fiscal years3 of 3
✗not met: Equity ratio above 30%−14.4%
Gross margin
67.1%Fiscal year 2025
All74strong
Rank 74 of 100: higher than 74% of 153 peers (All). strong.
Sector95strong
Rank 95 of 100: higher than 95% of 10 peers (Sector). strong.
Median Consumer Staples: 52.2%
Share of revenue left after the direct cost of the products sold.
Operating margin
36.6%Fiscal year 2025
All88strong
Rank 88 of 100: higher than 88% of 192 peers (All). strong.
Sector85strong
Rank 85 of 100: higher than 85% of 10 peers (Sector). strong.
Median Consumer Staples: 14.2%
Operating income divided by revenue: what the core business earns before interest and taxes.
Net margin
27.9%Fiscal year 2025
All80strong
Rank 80 of 100: higher than 80% of 237 peers (All). strong.
Sector85strong
Rank 85 of 100: higher than 85% of 10 peers (Sector). strong.
Median Consumer Staples: 9.6%
Profit after all costs, interest and taxes divided by revenue.
Return on assets
16.4%Fiscal year 2025 (total assets at year end)
All87strong
Rank 87 of 100: higher than 87% of 238 peers (All). strong.
Sector85strong
Rank 85 of 100: higher than 85% of 10 peers (Sector). strong.
Median Consumer Staples: 11.4%
Net income divided by total assets at fiscal year end.
Equity ratio
−14.4%Fiscal year 2025
All3weak
Rank 3 of 100: higher than 3% of 239 peers (All). weak.
Sector5weak
Rank 5 of 100: higher than 5% of 10 peers (Sector). weak.
Median Consumer Staples: 28.9%
Equity as a share of total assets. Usually low for banks.
Free cash flow margin
26.2%Fiscal year 2025
All78strong
Rank 78 of 100: higher than 78% of 213 peers (All). strong.
Sector85strong
Rank 85 of 100: higher than 85% of 10 peers (Sector). strong.
Median Consumer Staples: 9.7%
Free cash flow divided by revenue.
Free cash flow
10.7B USDFiscal year 2025
Operating cash flow minus capital expenditure on property and equipment.
Growth 6 of 7 met
✓met: Over 3 years, revenue grew by more than 5% per year+8.6%
✓met: Over 5 years, revenue grew by more than 5% per year+7.2%
✗not met: Over 10 years, revenue grew by more than 5% per year−5.8%
✓met: Over 3 years, EPS grew by more than 5% per year+7.7%
✓met: Over 5 years, EPS grew by more than 5% per year+7.1%
✓met: Revenue rose in at least 4 of the last 5 fiscal years5 of 5
✓met: Revenue rose in the last fiscal year+7.3%
Revenue growth 3 years
+8.6%per year
All50medium
Rank 50 of 100: higher than 50% of 230 peers (All). medium.
Sector95strong
Rank 95 of 100: higher than 95% of 10 peers (Sector). strong.
Median Consumer Staples: +4.0%
Average growth per year over 3 fiscal years.
Revenue growth 5 years
+7.2%per year
All29weak
Rank 29 of 100: higher than 29% of 217 peers (All). weak.
Sector65medium
Rank 65 of 100: higher than 65% of 10 peers (Sector). medium.
Median Consumer Staples: +5.5%
Average growth per year over 5 fiscal years.
Revenue growth 10 years
−5.8%per year
All1weak
Rank 1 of 100: higher than 1% of 157 peers (All). weak.
Sector6weak
Rank 6 of 100: higher than 6% of 9 peers (Sector). weak.
Median Consumer Staples: +2.9%
Average growth per year over 10 fiscal years.
EPS growth 3 years
+7.7%per year
All39medium
Rank 39 of 100: higher than 39% of 157 peers (All). medium.
Sector45medium
Rank 45 of 100: higher than 45% of 10 peers (Sector). medium.
Median Consumer Staples: +8.3%
Growth of earnings per share per year, adjusted for stock splits.
EPS growth 5 years
+7.1%per year
All29weak
Rank 29 of 100: higher than 29% of 146 peers (All). weak.
Sector55medium
Rank 55 of 100: higher than 55% of 10 peers (Sector). medium.
Median Consumer Staples: +5.4%
Growth of earnings per share per year, adjusted for stock splits.
EPS growth 10 years
+5.1%per year
All28weak
Rank 28 of 100: higher than 28% of 140 peers (All). weak.
Sector39medium
Rank 39 of 100: higher than 39% of 9 peers (Sector). medium.
Median Consumer Staples: +5.6%
Growth of earnings per share per year, adjusted for stock splits.
Dividend 6 of 7 met
✓met: Pays a dividend5.64 USD
✗not met: Payout ratio at most 60% of earnings78%
✓met: Dividend paid in each of the last 5 fiscal years5 of 5
✓met: Dividend per share never lowered in the last 5 fiscal yearsDividend per share as filed with the SEC, including special dividends; a one-off higher prior year does not count as a cut.never
✓met: Dividend per share higher than 5 years ago+3.5%
✓met: Free cash flow per share covers the dividend1.2x
✓met: Dividends paid over the last 5 years covered by free cash flow80% of free cash flow
Payout ratio
78%Fiscal year 2025
Dividend per share divided by earnings per share.
Dividend growth 5 years
+3.5%per year
All16weak
Rank 16 of 100: higher than 16% of 118 peers (All). weak.
Sector17weak
Rank 17 of 100: higher than 17% of 9 peers (Sector). weak.
Median Consumer Staples: +5.5%
Growth of the dividend per share per year.
Free cash flow coverage
1.2xFiscal year 2025
Free cash flow per share divided by dividend per share. From 1x the dividend is covered.
Financial strength 3 of 6 met
✓met: Piotroski F-Score at least 7 of 98 of 9
✗not met: Long-term debt no higher than equitynegative equity
✗not met: Current assets cover current liabilities0.96
✗not met: Positive equity−10.0B USD
✓met: In 5 years, share count up by at most 5%0.0%
✓met: Free cash flow positive in the last fiscal year10.7B USD
Piotroski F-Score
8 of 9Fiscal year 2025
All90strong
Rank 90 of 100: higher than 90% of 134 peers (All). strong.
Sector90strong
Rank 90 of 100: higher than 90% of 10 peers (Sector). strong.
Median Consumer Staples: 6.5 of 9
Nine yes/no tests on profit, cash flow, debt, liquidity and efficiency compared with the prior year.
Debt / equity
negative equityat fiscal year end
No rank: too few peers or not computed yet.
Long-term financial debt divided by equity.
Liquidity (current ratio)
0.96at fiscal year end
All22weak
Rank 22 of 100: higher than 22% of 215 peers (All). weak.
Sector75strong
Rank 75 of 100: higher than 75% of 10 peers (Sector). strong.
Median Consumer Staples: 0.84
Current assets divided by current liabilities.
Change in share count
0.0%in 5 years
All43medium
Rank 43 of 100: lower than 43% of 199 peers (All). medium.
Sector15weak
Rank 15 of 100: lower than 15% of 10 peers (Sector). weak.
Median Consumer Staples: −5.8%
Change in diluted share count. Negative = share buybacks, positive = new shares.
The 9 criteria of the Piotroski F-Score
✓met: Profit in the last fiscal year (positive return on assets)
✓met: Positive operating cash flow
✓met: Return on assets higher than the prior year
✓met: Operating cash flow higher than net income
✓met: Long-term debt relative to total assets fell
✓met: Liquidity (current assets / current liabilities) rose
✗not met: No additional shares (diluted share count did not rise)
✓met: Gross margin higher than the prior year
✓met: Revenue relative to total assets higher than the prior year
Last fiscal year compared with the one before. Returns and revenue per total assets use total assets at the start of the year; leverage = long-term financial debt divided by total assets at year end; new shares via the average diluted share count.
Price-based criteria (P/E, dividend yield) are shown to signed-in users.
Computed automatically from SEC annual reports – not investment advice. Describes the reported figures; points are not a rating of the stock. Rank 0–100 against the 239 stocks we cover and against the sector (from 5 peers); the stronger side is always on the right.
In short
Light green: Revenue grew over 5 years (+7.2% per year), at least as fast as the sector median.
Light green: Net income (total) grew over 5 years (+7.1% per year), at least as fast as the sector median; per share +7.1% per year.
Light green: Net margin 27.9%, above the sector median (6.6%).
Light green: Profit in each of the last 10 fiscal years.
Light yellow: High payout ratio (78% of earnings).
Summarized from the lights below. Describes the reported figures – not a recommendation to buy or sell.
RevenueNet incomeNet margin (below)in USD
020B40B60B
2016Fiscal year 2016 (Jan 1, 2016 – Dec 31, 2016): Revenue 26.7B USD · Net income 7.0B USD · Net margin 26.1%
2017Fiscal year 2017 (Jan 1, 2017 – Dec 31, 2017): Revenue 28.7B USD · Net income 6.0B USD · Net margin 21.0%
2018Fiscal year 2018 (Jan 1, 2018 – Dec 31, 2018): Revenue 29.6B USD · Net income 7.9B USD · Net margin 26.7%
2019Fiscal year 2019 (Jan 1, 2019 – Dec 31, 2019): Revenue 29.8B USD · Net income 7.2B USD · Net margin 24.1%
2020Fiscal year 2020 (Jan 1, 2020 – Dec 31, 2020): Revenue 28.7B USD · Net income 8.1B USD · Net margin 28.1%
2021Fiscal year 2021 (Jan 1, 2021 – Dec 31, 2021): Revenue 31.4B USD · Net income 9.1B USD · Net margin 29.0%
2022Fiscal year 2022 (Jan 1, 2022 – Dec 31, 2022): Revenue 31.8B USD · Net income 9.0B USD · Net margin 28.5%
2023Fiscal year 2023 (Jan 1, 2023 – Dec 31, 2023): Revenue 35.2B USD · Net income 7.8B USD · Net margin 22.2%
2024Fiscal year 2024 (Jan 1, 2024 – Dec 31, 2024): Revenue 37.9B USD · Net income 7.1B USD · Net margin 18.6%
2025Fiscal year 2025 (Jan 1, 2025 – Dec 31, 2025): Revenue 40.6B USD · Net income 11.3B USD · Net margin 27.9%
Margin
26%21%27%24%28%29%28%22%19%28%
RevenueNet incomeNet margin (below)in USD
−5B05B10B15B
Q4/23Quarter Q4/23 (Oct 1, 2023 – Dec 31, 2023): Revenue 9.0B USD · Net income 2.2B USD · Net margin 24.3% · Q4 derived (year minus 9 months), may be distorted by restatements
Q1/24Quarter Q1/24 (Jan 1, 2024 – Mar 31, 2024): Revenue 8.8B USD · Net income 2.1B USD · Net margin 24.4%
Q2/24Quarter Q2/24 (Apr 1, 2024 – Jun 30, 2024): Revenue 9.5B USD · Net income 2.4B USD · Net margin 25.4%
Q3/24Quarter Q3/24 (Jul 1, 2024 – Sep 30, 2024): Revenue 9.9B USD · Net income 3.1B USD · Net margin 31.1%
Q4/24Quarter Q4/24 (Oct 1, 2024 – Dec 31, 2024): Revenue 9.7B USD · Net income −579.0M USD · Net margin −6.0% · Q4 derived (year minus 9 months), may be distorted by restatements
Q1/25Quarter Q1/25 (Jan 1, 2025 – Mar 31, 2025): Revenue 9.3B USD · Net income 2.7B USD · Net margin 28.9%
Q2/25Quarter Q2/25 (Apr 1, 2025 – Jun 30, 2025): Revenue 10.1B USD · Net income 3.0B USD · Net margin 30.0%
Q3/25Quarter Q3/25 (Jul 1, 2025 – Sep 30, 2025): Revenue 10.8B USD · Net income 3.5B USD · Net margin 32.1%
Q4/25Quarter Q4/25 (Oct 1, 2025 – Dec 31, 2025): Revenue 10.4B USD · Net income 2.1B USD · Net margin 20.7% · Q4 derived (year minus 9 months), may be distorted by restatements
Q1/26Quarter Q1/26 (Jan 1, 2026 – Mar 31, 2026): Revenue 10.1B USD · Net income 2.4B USD · Net margin 24.0%
Q2/26Quarter Q2/26 (Apr 1, 2026 – Jun 30, 2026): Revenue 11.2B USD · Net income 2.8B USD · Net margin 25.2%
Q3/26Quarter Q3/26 (Jul 1, 2026 – Sep 30, 2026): Revenue 11.4B USD · Net income 3.3B USD · Net margin 29.0%
Margin
24%24%25%31%−6%29%30%32%21%24%25%29%
Earnings per shareUSD per share
02.004.006.008.00
2016Fiscal year 2016 (Jan 1, 2016 – Dec 31, 2016): Earnings per share 4.48 USD
2017Fiscal year 2017 (Jan 1, 2017 – Dec 31, 2017): Earnings per share 3.88 USD
2018Fiscal year 2018 (Jan 1, 2018 – Dec 31, 2018): Earnings per share 5.08 USD
2019Fiscal year 2019 (Jan 1, 2019 – Dec 31, 2019): Earnings per share 4.61 USD
2020Fiscal year 2020 (Jan 1, 2020 – Dec 31, 2020): Earnings per share 5.16 USD
2021Fiscal year 2021 (Jan 1, 2021 – Dec 31, 2021): Earnings per share 5.83 USD
2022Fiscal year 2022 (Jan 1, 2022 – Dec 31, 2022): Earnings per share 5.81 USD
2023Fiscal year 2023 (Jan 1, 2023 – Dec 31, 2023): Earnings per share 5.02 USD
2024Fiscal year 2024 (Jan 1, 2024 – Dec 31, 2024): Earnings per share 4.52 USD
2025Fiscal year 2025 (Jan 1, 2025 – Dec 31, 2025): Earnings per share 7.26 USD
Earnings per shareUSD per share
01.002.003.00
Q4/23Quarter Q4/23 (Oct 1, 2023 – Dec 31, 2023): Earnings per share not reported separately for Q4
Q1/24Quarter Q1/24 (Jan 1, 2024 – Mar 31, 2024): Earnings per share 1.38 USD
Q2/24Quarter Q2/24 (Apr 1, 2024 – Jun 30, 2024): Earnings per share 1.54 USD
Dividend per sharePayout ratio (below)USD per share
02.004.006.00
2016Fiscal year 2016 (Jan 1, 2016 – Dec 31, 2016): Dividend per share 4.12 USD · Payout ratio 92.0%
2017Fiscal year 2017 (Jan 1, 2017 – Dec 31, 2017): Dividend per share 4.22 USD · Payout ratio 108.8%
2018Fiscal year 2018 (Jan 1, 2018 – Dec 31, 2018): Dividend per share 4.49 USD · Payout ratio 88.4%
2019Fiscal year 2019 (Jan 1, 2019 – Dec 31, 2019): Dividend per share 4.62 USD · Payout ratio 100.2%
2020Fiscal year 2020 (Jan 1, 2020 – Dec 31, 2020): Dividend per share 4.74 USD · Payout ratio 91.9%
2021Fiscal year 2021 (Jan 1, 2021 – Dec 31, 2021): Dividend per share 4.90 USD · Payout ratio 84.0%
2022Fiscal year 2022 (Jan 1, 2022 – Dec 31, 2022): Dividend per share 5.04 USD · Payout ratio 86.7%
2023Fiscal year 2023 (Jan 1, 2023 – Dec 31, 2023): Dividend per share 5.14 USD · Payout ratio 102.4%
2024Fiscal year 2024 (Jan 1, 2024 – Dec 31, 2024): Dividend per share 5.30 USD · Payout ratio 117.3%
2025Fiscal year 2025 (Jan 1, 2025 – Dec 31, 2025): Dividend per share 5.64 USD · Payout ratio 77.7%
Ratio
92%109%88%100%92%84%87%102%117%78%
Dividend per sharePayout ratio (below)USD per share
00.501.001.502.00
Q4/23Quarter Q4/23 (Oct 1, 2023 – Dec 31, 2023): Dividend per share 1.30 USD · Payout ratio not available · Q4 derived (year minus 9 months), may be distorted by restatements
Q1/24Quarter Q1/24 (Jan 1, 2024 – Mar 31, 2024): Dividend per share 1.30 USD · Payout ratio 94.2%
Q2/24Quarter Q2/24 (Apr 1, 2024 – Jun 30, 2024): Dividend per share 1.30 USD · Payout ratio 84.4%
Q3/24Quarter Q3/24 (Jul 1, 2024 – Sep 30, 2024): Dividend per share 1.35 USD · Payout ratio 68.5%
Q4/24Quarter Q4/24 (Oct 1, 2024 – Dec 31, 2024): Dividend per share 1.35 USD · Payout ratio not available · Q4 derived (year minus 9 months), may be distorted by restatements
Q1/25Quarter Q1/25 (Jan 1, 2025 – Mar 31, 2025): Dividend per share 1.35 USD · Payout ratio 78.5%
Q2/25Quarter Q2/25 (Apr 1, 2025 – Jun 30, 2025): Dividend per share 1.35 USD · Payout ratio 69.2%
Q3/25Quarter Q3/25 (Jul 1, 2025 – Sep 30, 2025): Dividend per share 1.47 USD · Payout ratio 65.9%
Q4/25Quarter Q4/25 (Oct 1, 2025 – Dec 31, 2025): Dividend per share 1.47 USD · Payout ratio not available · Q4 derived (year minus 9 months), may be distorted by restatements
Q1/26Quarter Q1/26 (Jan 1, 2026 – Mar 31, 2026): Dividend per share 1.47 USD · Payout ratio 94.2%
Q2/26Quarter Q2/26 (Apr 1, 2026 – Jun 30, 2026): Dividend per share 1.47 USD · Payout ratio 81.7%
Q3/26Quarter Q3/26 (Jul 1, 2026 – Sep 30, 2026): Dividend per share 1.60 USD · Payout ratio 75.5%
Ratio
94%84%69%78%69%66%94%82%75%
Fiscal year 2025 (Jan 1, 2025 – Dec 31, 2025): Revenue 40.6B USD · Net income 11.3B USD · Net margin 27.9%
Figures over time
Where the money of a fiscal year goes and how margins, returns, balance sheet, cash flow and share count developed over up to 10 years. Each chart has one sentence saying what the trend shows.
Money flow in fiscal year 2025
Of 100 USD of revenue, 67.1 USD gross profit, 36.6 USD operating income and 27.9 USD net income remained.
2016Fiscal year 2016: Operating cash flow 8.1B USD · Capital expenditure 1.2B USD · Free cash flow 6.9B USD
2017Fiscal year 2017: Operating cash flow 8.9B USD · Capital expenditure 1.5B USD · Free cash flow 7.4B USD
2018Fiscal year 2018: Operating cash flow 9.5B USD · Capital expenditure 1.4B USD · Free cash flow 8.0B USD
2019Fiscal year 2019: Operating cash flow 10.1B USD · Capital expenditure 852.0M USD · Free cash flow 9.2B USD
2020Fiscal year 2020: Operating cash flow 9.8B USD · Capital expenditure 602.0M USD · Free cash flow 9.2B USD
2021Fiscal year 2021: Operating cash flow 12.0B USD · Capital expenditure 748.0M USD · Free cash flow 11.2B USD
2022Fiscal year 2022: Operating cash flow 10.8B USD · Capital expenditure 1.1B USD · Free cash flow 9.7B USD
2023Fiscal year 2023: Operating cash flow 9.2B USD · Capital expenditure 1.3B USD · Free cash flow 7.9B USD
2024Fiscal year 2024: Operating cash flow 12.2B USD · Capital expenditure 1.4B USD · Free cash flow 10.8B USD
2025Fiscal year 2025: Operating cash flow 12.2B USD · Capital expenditure 1.6B USD · Free cash flow 10.7B USD
Share count
The share count stayed roughly the same in 5 years.
Diluted share count
0500M1B1.5B2B
2016Fiscal year 2016: Diluted share count 1.6B
2017Fiscal year 2017: Diluted share count 1.6B
2018Fiscal year 2018: Diluted share count 1.6B
2019Fiscal year 2019: Diluted share count 1.6B
2020Fiscal year 2020: Diluted share count 1.6B
2021Fiscal year 2021: Diluted share count 1.6B
2022Fiscal year 2022: Diluted share count 1.6B
2023Fiscal year 2023: Diluted share count 1.6B
2024Fiscal year 2024: Diluted share count 1.6B
2025Fiscal year 2025: Diluted share count 1.6B
From annual reports filed with the SEC (10-K, 20-F, 40-F) as first reported, share count adjusted for splits; obvious filing errors (e.g. wrong unit, outliers against both neighbouring years) are hidden. Describes the reported figures – not investment advice.
Dividends and share repurchases
How much the company returns to its shareholders – as dividends or by repurchasing its own shares – and whether free cash flow supports it.
Dividend per share
5.64USD · Fiscal year 2025
Dividend growth per year
3 y+3.8%5 y+3.5%10 y+3.4%
Years without a cut
at least 10as far as the data goes
Payout ratio
of earnings78%of free cash flow81%
To shareholders (5 years)
41.2B USD2% through repurchases
Share count over 5 years
0.0%roughly unchanged
Dividend per share
The dividend per share rose in 5 years from 4.74 USD to 5.64 USD.
Dividend per shareUSD per sharePer share as filed with the SEC, including special dividends; obvious filing errors are hidden.
02.004.006.00
2016Fiscal year 2016: Dividend per share 4.12 USD
2017Fiscal year 2017: Dividend per share 4.22 USD
2018Fiscal year 2018: Dividend per share 4.49 USD
2019Fiscal year 2019: Dividend per share 4.62 USD
2020Fiscal year 2020: Dividend per share 4.74 USD
2021Fiscal year 2021: Dividend per share 4.90 USD
2022Fiscal year 2022: Dividend per share 5.04 USD
2023Fiscal year 2023: Dividend per share 5.14 USD
2024Fiscal year 2024: Dividend per share 5.30 USD
2025Fiscal year 2025: Dividend per share 5.64 USD
Payout ratios
The payout ratio fell in 5 years from 91.9% to 77.7%.
Payout ratio (earnings)Payout ratio (free cash flow)
0%50%100%150%
2016Fiscal year 2016: Payout ratio (earnings) 92.0% · Payout ratio (free cash flow) 92.4%
2017Fiscal year 2017: Payout ratio (earnings) 108.8% · Payout ratio (free cash flow) 88.5%
2018Fiscal year 2018: Payout ratio (earnings) 88.4% · Payout ratio (free cash flow) 85.6%
2019Fiscal year 2019: Payout ratio (earnings) 100.2% · Payout ratio (free cash flow) 77.5%
2020Fiscal year 2020: Payout ratio (earnings) 91.9% · Payout ratio (free cash flow) 80.0%
2021Fiscal year 2021: Payout ratio (earnings) 84.0% · Payout ratio (free cash flow) 67.6%
2022Fiscal year 2022: Payout ratio (earnings) 86.7% · Payout ratio (free cash flow) 80.3%
2023Fiscal year 2023: Payout ratio (earnings) 102.4% · Payout ratio (free cash flow) 101.0%
2024Fiscal year 2024: Payout ratio (earnings) 117.3% · Payout ratio (free cash flow) 76.1%
2025Fiscal year 2025: Payout ratio (earnings) 77.7% · Payout ratio (free cash flow) 80.9%
What goes back to shareholders
Over 5 years, 41.2B USD went back to shareholders, 2% of it through share repurchases. That is 82% of the free cash flow of those years.
2016Fiscal year 2016: Dividends paid 6.4B USD · Share repurchases 0.0 USD · New shares issued (including employee plans) not available · Free cash flow 6.9B USD
2017Fiscal year 2017: Dividends paid 6.5B USD · Share repurchases 0.0 USD · New shares issued (including employee plans) not available · Free cash flow 7.4B USD
2018Fiscal year 2018: Dividends paid 6.9B USD · Share repurchases not available · New shares issued (including employee plans) not available · Free cash flow 8.0B USD
2019Fiscal year 2019: Dividends paid 7.2B USD · Share repurchases 0.0 USD · New shares issued (including employee plans) not available · Free cash flow 9.2B USD
2020Fiscal year 2020: Dividends paid 7.4B USD · Share repurchases 0.0 USD · New shares issued (including employee plans) not available · Free cash flow 9.2B USD
2021Fiscal year 2021: Dividends paid 7.6B USD · Share repurchases 775.0M USD · New shares issued (including employee plans) not available · Free cash flow 11.2B USD
2022Fiscal year 2022: Dividends paid 7.8B USD · Share repurchases 209.0M USD · New shares issued (including employee plans) not available · Free cash flow 9.7B USD
2023Fiscal year 2023: Dividends paid 8.0B USD · Share repurchases 0.0 USD · New shares issued (including employee plans) not available · Free cash flow 7.9B USD
2024Fiscal year 2024: Dividends paid 8.2B USD · Share repurchases 0.0 USD · New shares issued (including employee plans) not available · Free cash flow 10.8B USD
2025Fiscal year 2025: Dividends paid 8.6B USD · Share repurchases not available · New shares issued (including employee plans) not available · Free cash flow 10.7B USD
Dividends paid, repurchases and new shares issued from the cash flow statement of annual reports filed with the SEC (as first reported). Describes the reported figures – not investment advice.
Valuation over time
Price-based valuation (P/E, P/S, price/free cash flow and dividend yield per fiscal year, compared with its own average) for signed-in users.Log in
Sector comparison
Philip Morris International next to 8 stocks of the sector Consumer Staples we cover that are closest in revenue. Click a column header to sort the table.
Sector comparison PM, sector Consumer Staples; last row: sector median
Growth 5 yrs = revenue growth per year over 5 fiscal years · Op. margin = operating margin · ROE = return on equity · FCF = free cash flow · Piotroski = F-Score (only with all 9 criteria).
Figures of the last fiscal year from SEC annual reports (peers as of Oct 28, 2026). Median across all companies of the sector we cover (from 5 stocks; several share classes of one company count once). Signed-in users also see P/E, P/S and dividend yield in the comparison. Describes the reported figures – not investment advice.
Key figures with traffic lights
Each light follows a simple, disclosed rule. The comparison is with the sector median Sector medianThe middle value of all companies in a sector: half are above it, half below. Unlike the average, single outliers hardly distort it.Example: Margins 4%, 8%, 10%, 12%, 60% → median 10%, average 18.8%.More in the Academy: Lesson putting the P/E in context of all 34 symbols in the Consumer Staples sector on our list (current members of the S&P 500 and other lists).
Revenue growth
Growth per year (CAGR)The average annual growth rate over several years, as if the value had grown equally strongly every year. Individual good or bad years even out in it.Example: Revenue €100m → €161m in 5 years → (161 ÷ 100) to the power of 1/5 − 1 = 10% per year.More in the Academy: Lesson debt, dividends and growth
Light green: above sector
+7.2%per year, last 5 years
Sector Consumer Staples: median +4.7% (31 symbols)
What does this mean? Revenue: over 5 years it grew by 7.2% per year on average – at least as fast as the median company in the sector (+4.7%).
Light rule: Green: grows at least as fast as the sector median (without a sector comparison: grows) · Yellow: grows more slowly · Red: shrinks.
Net income (total)
Growth per year (CAGR)The average annual growth rate over several years, as if the value had grown equally strongly every year. Individual good or bad years even out in it.Example: Revenue €100m → €161m in 5 years → (161 ÷ 100) to the power of 1/5 − 1 = 10% per year.More in the Academy: Lesson debt, dividends and growth
Light green: above sector
+7.1%per year, last 5 years
Sector Consumer Staples: median −2.1% (28 symbols)
per share: +7.1% per year (5 years, split-adjusted)
What does this mean? Total net income: over 5 years it grew by 7.1% per year on average – at least as fast as the median company in the sector (−2.1%).
Light rule: Green: grows at least as fast as the sector median (without a sector comparison: grows) · Yellow: grows more slowly · Red: shrinks.
What does this mean? Of every 100 USD in revenue, 27.92 USD remained as profit – at least as much as the median company in the sector (6.6%). Five years ago the margin was 28.1%.
Light rule: Green: at least the sector median (without a sector comparison: profit) · Yellow: profit, but below the median · Red: loss.
Debt / equity
Debt-to-equity ratioFinancial debt (loans, bonds) divided by equity. A high value amplifies good and bad years alike. The key figures bar in the chart only uses long-term financial debt.Example: Financial debt €300m, equity €500m → 0.6.More in the Academy: Lesson debt, dividends and growth
Light gray: negative equity
–latest balance sheet
Sector Consumer Staples: median 0.70 (29 symbols)
What does this mean? Equity is negative (e.g. due to share buybacks). A debt-to-equity ratio cannot be formed meaningfully then.
Light rule: Green: at most the sector median · Yellow: up to twice the median · Red: more than twice · Gray: without a sector comparison.
Payout ratio
Payout ratioThe share of profit that a company pays out as a dividend. Above 100% it pays out more than it earns.Example: Dividend €1, earnings per share €2.50 → payout ratio 40%.More in the Academy: Lesson debt, dividends and growth
Light yellow: high
78%Dividend / earnings per share
Sector Consumer Staples: median 71% (24 symbols)
What does this mean? Of every 1 USD of earnings per share, 0.78 USD went to shareholders as a dividend. Little buffer remains for weaker years. Median company in the sector: 71%.
Light rule: Green: up to 60% of earnings · Yellow: up to 100% · Red: more than earnings or a dividend despite a loss · Gray for real estate (REITs). The sector median is for comparison only.
Profitable years
Profitable yearsHow many of the last fiscal years ended with a profit rather than a loss on the bottom line. The figure shows how consistently a company earns.Example: Profit in 9 of 10 years → one loss year.More in the Academy: Lesson revenue, profit and margin
Light green: profit every year
10 of 10fiscal years with a profit
What does this mean? In 10 of the last 10 fiscal years the bottom line showed a profit. There were no losses in this period.
Light rule: Green: profit in every year · Yellow: one loss year · Red: several loss years (at least 3 years needed).
Last fiscal year and 13F
Information, not a trading signal · Source: SEC EDGAR
Revenue (FY)
40.6B USD
Revenue vs. prior year
+7.3%
Net income (FY)
11.3B USD
Net income vs. prior year
+60.8%
EPS (FY)
7.26 USD
13F funds with a position
1 of 9
Funds vs. prior quarter
+1
Shares held vs. prior quarter
–
Fiscal year to Dec 31, 2025 · 10-K filed Feb 6, 2026 · Price-based figures (P/E, P/S, dividend yield, market cap) only when logged in. · Values as first reported; debt = reported financial debt (US GAAP: long-term).13F: reporting date Jun 30, 2026, 9 tracked funds have filed (latest Aug 14, 2026), filed with up to 45 days of delay. Stock positions only; comparison with Mar 31, 2026 only across funds that filed for both quarters.
All figures as a table
Fiscal years (amounts in USD, per share in USD)
Year
End
Revenue
Net income
Margin
Earnings per share
Dividend per share
Payout
2025
Dec 31, 2025
40.6B
11.3B
27.9%
7.26
5.64
78%
2024
Dec 31, 2024
37.9B
7.1B
18.6%
4.52
5.30
117%
2023
Dec 31, 2023
35.2B
7.8B
22.2%
5.02
5.14
102%
2022
Dec 31, 2022
31.8B
9.0B
28.5%
5.81
5.04
87%
2021
Dec 31, 2021
31.4B
9.1B
29.0%
5.83
4.90
84%
2020
Dec 31, 2020
28.7B
8.1B
28.1%
5.16
4.74
92%
2019
Dec 31, 2019
29.8B
7.2B
24.1%
4.61
4.62
100%
2018
Dec 31, 2018
29.6B
7.9B
26.7%
5.08
4.49
88%
2017
Dec 31, 2017
28.7B
6.0B
21.0%
3.88
4.22
109%
2016
Dec 31, 2016
26.7B
7.0B
26.1%
4.48
4.12
92%
Quarters (amounts in USD, per share in USD)
Quarter
End
Revenue
Net income
Margin
Earnings per share
Dividend per share
Payout
Q3/26
Sep 30, 2026
11.4B
3.3B
29.0%
2.12
1.60
75%
Q2/26
Jun 30, 2026
11.2B
2.8B
25.2%
1.80
1.47
82%
Q1/26
Mar 31, 2026
10.1B
2.4B
24.0%
1.56
1.47
94%
Q4/25*
Dec 31, 2025
10.4B
2.1B
20.7%
–
1.47
–
Q3/25
Sep 30, 2025
10.8B
3.5B
32.1%
2.23
1.47
66%
Q2/25
Jun 30, 2025
10.1B
3.0B
30.0%
1.95
1.35
69%
Q1/25
Mar 31, 2025
9.3B
2.7B
28.9%
1.72
1.35
78%
Q4/24*
Dec 31, 2024
9.7B
−579.0M
−6.0%
–
1.35
–
Q3/24
Sep 30, 2024
9.9B
3.1B
31.1%
1.97
1.35
69%
Q2/24
Jun 30, 2024
9.5B
2.4B
25.4%
1.54
1.30
84%
Q1/24
Mar 31, 2024
8.8B
2.1B
24.4%
1.38
1.30
94%
Q4/23*
Dec 31, 2023
9.0B
2.2B
24.3%
–
1.30
–
* Q4 derived: fiscal year minus the 9-month value (EPS cannot be derived this way); may be distorted by restatements.
How we calculate: values as first reported to the SEC (later corrections are left out), a fixed order of reporting tags per figure, partial sums are never added up. Growth per year Growth per year (CAGR)The average annual growth rate over several years, as if the value had grown equally strongly every year. Individual good or bad years even out in it.Example: Revenue €100m → €161m in 5 years → (161 ÷ 100) to the power of 1/5 − 1 = 10% per year.More in the Academy: Lesson debt, dividends and growth over 5 years (otherwise 3 years). Quarters are labeled by the calendar quarter in which they end.
Insiders
Insider transactionsExecutives, directors and major shareholders (over 10%) of US companies report their own transactions in their company’s stock to the SEC within two business days (Form 4). Purchases in the market count as more meaningful than sales (often taxes, estate planning).Example: Three executives acquire stock worth a total of 2 million USD within two weeks → “purchases by several insiders”.More in the Academy: Glossary
Source: mandatory filings with the SEC (Form 4), open-market purchases and sales only. General information, not investment advice.
Trend score +65
Price vs. EMA 50+15
Price vs. EMA 200+15
EMA 50 vs. EMA 200+20
ADX (trend strength)+0
Highs and lows+0
Relative strength+15
Volatility and trend strength
ADX 14 (trend strength)16.5
Rel. strength 60 d+7.0%
ATR ATR (Average True Range)The average range per trading day over the last 14 days. It makes distances comparable, whether a stock costs 10 or 1,000.Example: ATR 2.50 at a price of 100: 0.4 ATR is 1.00, i.e. 1%.More in the Academy: Lesson ATR and moving averages as price values only when logged in.