OakChart

Philip Morris International Inc

PMConsumer Defensive·Tobacco·USA·Mega·NYSE·Nov 11 • 11:22 AM ET

193.27-0.98 (-0.50%)
2026-11-11 17:23 CET
Market cap
302,769.71 USD m
Revenue, TTM
43,014.00 USD m
Net income, TTM
10,681.00 USD m
Free cash flow, TTM
13,595.00 USD m
EPS diluted, TTM
6.85
P/E
28.22
Compare

Price

PM against its 20, 50 and 200-day averages
2050200miss
180.00200.005.9M11.7MMay 26Jun 26Jul 26Aug 26Sep 26Oct 26Nov 26PMclose 193.2720-day 201.8450-day 195.81200-day 183.02193.2752w high

9.8% under the 52-week high of 214.35 on 30 Oct 2026. 52-week low 146.35 on 4 Dec 2025. Last 15 sessions, 11.5% high to low

Profile

PM
52-week range, 69% of the way up
146.35214.35

Philip Morris International, Inc. is a holding company, which engages in the business of delivering a smoke-free future and evolving a portfolio for the long term to include products outside of the tobacco and nicotine sector. It operates through the following geographical segments: Europe Region (Europe), South and Southeast Asia, Commonwealth of Independent States, Middle East, and Africa Region (SSEA, CIS, and MEA), East Asia, Australia, and PMI Global Travel Retail (EA, AU, and PMI GTR), and Americas Region (Americas). The Europe segment includes all the European Union countries, Switzerland, the United Kingdom, Ukraine, Moldova, and Southeast Europe. The SSEA, CIS, and MEA segment focuses on South and Southeast Asia, the African continent, the Middle East, Turkey, Israel, Central Asia, Caucasus, and Russia. The EA, AU, and PMI GTR segment is involved in the consolidation of international duty-free business with East Asia and Australia. The Americas segment consists of the United States, Canada, and Latin America. The company was founded by Philip Morris in 1847 and is headquartered in Stamford, CT.

IndexS&P 500, RUI
Employees84900
IPOMar 17, 2008
Beta0.36
ATR, 14d5.30
Rel volume0.44
Short float0.96%
Insider own0.21%
Inst own85.49%

Snapshot

6 groups

Valuation

IndexS&P 500, RUI
Market Cap301.24B
Enterprise Value344.09B
Income10.68B
Sales43.01B
Book/sh-5.09
Cash/sh4.30
Dividend Est.6.09 (3.15%)
Dividend TTM6.01 (3.11%)
Dividend Ex-DateOct 02, 2026
Dividend Gr. 3/5Y3.82% 3.54%
Payout77.65%
Employees84900
IPOMar 17, 2008

Ratios

P/E28.22
Forward P/E21.33
PEG2.25
P/S7.00
P/B-
P/C44.92
P/FCF22.16
EV/EBITDA18.85
EV/Sales8.00
Quick Ratio0.61
Current Ratio1.02
Debt/Eq-
LT Debt/Eq-
Option/ShortYes / Yes

Earnings

EPS (ttm)6.85
EPS next Y9.06
EPS next Q1.84
EPS this Y10.68%
EPS next Y8.57%
EPS next 5Y9.48%
EPS past 3/5Y7.70% 7.09%
Sales past 3/5Y8.74% 7.15%
EPS Y/Y TTM24.06%
Sales Y/Y TTM7.91%
EPS Q/Q-4.82%
Sales Q/Q5.24%
EarningsOct 21 BMO
EPS/Sales Surpr.3.20% 1.07%

Ownership

Insider Own0.21%
Insider Trans0.00%
Inst Own85.49%
Inst Trans0.33%
ROA15.97%
ROE-
ROIC31.63%
Gross Margin65.37%
Oper. Margin37.65%
Profit Margin24.83%
SMA20-4.24%
SMA50-1.29%
SMA2005.60%
Trades-

Technical

Shs Outstand1.56B
Shs Float1.56B
Short Float0.96%
Short Ratio3.24
Short Interest14.88M
52W High214.35 -9.83%
52W Low146.35 32.06%
Volatility3.20% 2.72%
ATR (14)5.30
RSI (14)41.34
Beta0.36
Rel Volume0.44
Avg Volume4.60M
Volume647,773

Performance

Perf Week-8.52%
Perf Month-3.02%
Perf Quarter2.31%
Perf Half Y2.85%
Perf YTD20.49%
Perf Year23.26%
Perf 3Y115.46%
Perf 5Y103.44%
Perf 10Y117.28%
Recom1.80
Target Price215.25
Prev Close194.25
Price193.27
Change %-0.50%

Analyst ratings

latest 10 of 20
DateActionAnalystRating changeTargetImplied
Nov 10, 2026ResumedJJP MorganNeutral$200+3.5%
Jul 22, 2026InitiatedBBTIG ResearchBuy$216+11.8%
Jan 20, 2026DowngradeJJefferiesBuy → Hold$180-6.9%
Jul 09, 2025ResumedJJefferiesBuy$220+13.8%
May 22, 2025InitiatedNNeedhamBuy$195+0.9%
Apr 25, 2025UpgradeUUBSSell → Neutral$170-12.0%
Mar 14, 2025UpgradeAArgusHold → Buy
Jan 16, 2025InitiatedMMorgan StanleyOverweight$140-27.6%
Mar 05, 2024DowngradeAArgusBuy → Hold
Feb 13, 2024UpgradeSSociete GeneraleSell → Hold

Peers

Mkt cap
TickerCompanyMkt cap
BTIBritish American Tobacco Plc ADR129.64B
MOAltria Group Inc127.30B
RLXRLX Technology Inc ADR1.40B
TPBTurning Point Brands Inc1.19B
ISPRIspire Technology Inc96.76M
UVVUniversal Corp944.50M
KOCoca-Cola Co415.08B
PEPPepsiCo Inc192.89B
PGProcter & Gamble Co387.60B
ULUnilever plc ADR141.38B

Insider trading

14 filings
InsiderRelationshipDateTransactionCostSharesValueTotal heldForm
Babeau EmmanuelGroup Chief Financial OfficerFeb 19 '26Sale181.6133,8006,138,418164,463Feb 20 04:01 PM
Dobrowolski ReginaldoGroup ControllerFeb 20 '26Sale183.465,000917,30021,182Feb 20 04:01 PM
Dobrowolski ReginaldoGroup ControllerFeb 20 '26Sale183.581,000183,5807,254Feb 20 04:01 PM
Guerin YannGroup Chief Legal OfficerFeb 19 '26Sale181.694,000726,76034,412Feb 20 04:01 PM
Kennedy StaceyCEO PMI U.S.Feb 20 '26Sale183.1314,3502,627,91645,301Feb 20 04:01 PM
Olczak JacekGroup CEO PMIFeb 19 '26Sale182.1880,00014,574,400632,344Feb 20 04:01 PM
De Wilde FredericCEO PMI InternationalFeb 19 '26Sale182.5820,0003,651,600133,513Feb 20 04:00 PM
CRISTINA HARUMI OKA DOBROWOLSKMember of immediate family ofFeb 20 '26Proposed Sale183.581,000183,580Feb 20 02:09 PM
REGINALDO DOBROWOLSKIOfficerFeb 20 '26Proposed Sale183.465,000917,300Feb 20 01:54 PM
STACEY R KENNEDYOfficerFeb 20 '26Proposed Sale183.1214,3502,627,772Feb 20 12:23 PM
EMMANUEL BABEAUOfficerFeb 19 '26Proposed Sale181.6033,8006,138,080Feb 19 03:10 PM
JACEK OLCZAKOfficerFeb 19 '26Proposed Sale182.1780,00014,573,600Feb 19 02:43 PM
FREDERIC J DE WILDEOfficerFeb 19 '26Proposed Sale182.5720,0003,651,400Feb 19 02:23 PM
YANN GUERINOfficerFeb 19 '26Proposed Sale181.684,000726,720Feb 19 02:01 PM

Held by

AUM
TickerCompanyAUM
VTIVanguard Morningstar Total Stock Market ETFAUM: 687.42B
VOOVanguard S&P 500 ETFAUM: 1054.75B
IVViShares Core S&P 500 ETFAUM: 871.38B
SPYSPDR S&P 500 ETF TrustAUM: 793.23B
VTVVanguard Morningstar Value ETFAUM: 196.23B
VYMVanguard High Dividend Yield Indx ETFAUM: 83.15B
DGROiShares Core Dividend Growth ETFAUM: 45.68B
XLPState Street Consumer Staples Select Sector SPDR ETFAUM: 14.96B
SPYMState Street SPDR Portfolio S&P 500 ETFAUM: 183.48B
JEPIJPMorgan Equity Premium Income ETFAUM: 46.80B

News

latest 14 of 103
  • Daniele Aita Appointed Chief People & Culture Officer, PMI U.S. (PR Newswire)
  • These sectors are holding up as a tech-led selloff drags down the broader market (MarketWatch)
  • Brewers start to feel the costs of prolonged war in Iran (Reuters)
  • Philip Morris Edges Past The Whisper, But ZYN Reinvestment And Geopolitical Costs Push Profit Guidance Toward The Low End (Earnings Whispers)
  • Philip Morris Shares Fall 2.5% Despite Q3 Earnings Beat as Investors Assess 2026 Outlook (InvestorsHub)
  • Loading…
  • Philip Morris Profit Falls Despite Higher Sales (The Wall Street Journal)
  • Philip Morris beats estimates but shares slip on cost pressures (Investing.com)
  • Philip Morris Says Global Wars Have Disrupted Its Business and Clouded Earnings Outlook (Barrons.com)
  • Philip Morris: Q3 Earnings Snapshot (Associated Press)
  • Philip Morris International Reports 2026 Third-Quarter & First Nine-Months Results and Updates 2026 Full-Year Adjusted Diluted EPS Forecast for Currency Only; (Business Wire)
  • This Stock's for You: Buy Bud's 'Diet Coke' Moment (Barrons.com)
  • PepsiCo or Philip Morris: The One Dividend Stock Id Hold for the Next 20 Years (TIKR)
  • Q3 Earnings Season Scorecard and Analyst Reports for NVIDIA, Philip Morris & Home Depot (Zacks)

Quarterly earnings

actual against estimate
PeriodReportedEPS actEPS estEPS repSales actSales estAnalysts
2026Q32026-10-212.3702.2972.12011,43811,31712
2026Q22026-07-222.2002.0511.80111,19210,60211
2026Q12026-04-221.9601.8571.55910,1469,95311
2025Q42026-02-061.7001.7001.37010,36210,38411
2025Q32025-10-212.2402.0942.22610,84510,63611
2025Q22025-07-221.9101.8581.94510,14010,31812
2025Q12025-04-231.6901.6121.7239,3019,1459
2024Q42025-02-061.5501.499-0.3739,7069,4369
2024Q32024-10-221.9101.8221.9759,9119,6768
2024Q22024-07-231.5901.5691.5429,4689,18610
2024Q12024-04-231.5001.4081.3788,7938,44311
2023Q42024-02-081.3601.4491.4109,0009,00810
2023Q32023-10-191.6701.6151.3189,1419,21413
2023Q22023-07-201.6001.4991.0068,9678,75613
2023Q12023-04-201.3801.3431.2818,0198,10613
2022Q42023-02-091.3901.2651.5418,1527,49912

Annual earnings

PeriodEPS actEPS estEPS repSales actSales est
2019FY5.1905.2014.60729,80529,821
2020FY5.1705.1365.15828,69428,677
2021FY6.0806.0445.82631,40531,204
2022FY5.9805.6715.81431,76230,523
2023FY6.0106.1295.01735,17435,124
2024FY6.5706.5044.52137,87837,657
2025FY7.5407.5227.26040,64840,632
2026FY-8.345--43,574
2027FY-9.061--45,688
2028FY-9.895--48,587
2029FY-10.722--49,981
2030FY-11.833--52,326

Estimate revisions

last 14 periods
PeriodTypeDateEstimatesUpDownMeanLowHigh
2026Q4S2026-11-08102510,86510,67311,079
2026Q4S2026-10-22112510,85710,67311,079
2026Q4S2026-10-21112310,91110,77511,107
2026Q4S2026-10-15101110,96410,73711,198
2026Q4S2026-10-09101010,98010,73711,279
2026Q4S2026-10-06100010,97310,73711,279
2026Q4S2026-10-05100010,98110,75811,279
2026Q4S2026-09-29100410,98110,75811,279
2026Q4S2026-09-26100510,98110,75811,279
2026Q4S2026-09-23100610,98110,75811,279
2026Q4S2026-09-21100810,98110,75811,279
2026Q4S2026-09-17100810,98810,77511,279
2026Q4S2026-09-14100810,98410,77511,279
2026Q4S2026-09-08100810,98510,77511,288

Estimate history

EPS, annual3.885.084.6075.1585.8265.8145.0174.5217.2636.8496
Period201720182019202020212022202320242025TTM
EPS, quarterly1.975-0.3731.7231.9452.2261.371.5591.8012.119
PeriodQ3 '24Q4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26Q2 '26Q3 '26
Sales, annual28688296072978328697313463152935060376924054043014
Period201720182019202020212022202320242025TTM
Sales, quarterly986896539249101291082910333101241116111396
PeriodQ3 '24Q4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26Q2 '26Q3 '26
Shares, annual1553.2181554.581555.8951557.3741550.171550.2181552.4251554.8461556.6571558.64
Period201720182019202020212022202320242025MRQ
Shares, quarterly1554.831554.8461556.4891556.5771556.6221556.6571558.5311558.6031558.64
PeriodQ3 '24Q4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26Q2 '26Q3 '26

Income statement, annual

Currency USD, millions
MetricTTM2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY
Total Revenue43,014.0040,540.0037,692.0035,060.0031,529.0031,346.0028,697.0029,783.0029,607.00
Cost of Goods Sold Incl. D&A14,894.0013,359.0014,113.0013,299.0011,402.0010,126.009,649.0010,580.0010,840.00
Gross Profit28,120.0027,181.0023,579.0021,761.0020,127.0021,220.0019,048.0019,203.0018,767.00
Selling, General and Administrative Excl. Other11,925.0010,197.0010,344.007,597.007,776.008,248.006,984.007,316.007,393.00
Research and Development-756.00759.00709.00642.00617.00495.00465.00383.00
Other Operating Expense0.000.000.000.000.000.000.000.000.00
Operating Income16,195.0016,984.0013,235.0014,164.0012,351.0012,972.0012,064.0011,887.0011,374.00
Interest Expense1,298.002,319.002,245.002,066.00971.00936.00982.001,112.00916.00
Unusual Expense-741.001,240.00-743.001,969.00-41.00-205.00252.00962.00-62.00
Net Income Before Taxes15,693.0013,880.0012,199.0010,450.0011,634.0012,232.0010,953.009,872.0010,671.00
Income Taxes3,292.002,737.003,017.002,339.002,244.002,671.002,377.002,293.002,445.00
Consolidated Net Income11,311.0011,816.007,480.008,246.009,503.009,684.008,572.007,711.008,270.00
Net Income From Continuing Operations10,681.0011,316.007,034.007,791.009,024.009,083.008,036.007,168.007,895.00
Net Income10,681.0011,316.007,034.007,791.009,024.009,083.008,036.007,168.007,895.00
EPS (Recurring)6.517.824.195.905.805.735.275.045.05
EPS (Basic, Before Extraordinaries)6.857.274.535.025.825.835.164.615.08
EPS (Diluted)6.857.264.525.025.815.835.164.615.08
EBITDA18,250.0018,980.0015,022.0015,562.0013,540.0013,970.0013,045.0012,851.0012,363.00
Non-Operating Income (Expense)55.00455.00466.00321.00213.00-9.00123.0059.00151.00
Other After Tax Adjustments-539.00-32.00-2,339.00-22.00-24.00-26.00-20.00-17.00-16.00
Stock Option Compensation Expense165.03193.00179.33167.48144.57153.30121.91125.56109.02
Price To Earnings Ratio28.3628.3619.0918.2818.0316.3116.0518.4713.14
Price To Sales Ratio6.926.164.974.174.984.724.494.453.51
Gross Margin65.3767.0562.5662.0763.8467.7066.3864.4863.39
Operating Margin37.6541.8935.1140.4039.1741.3842.0439.9138.42
Net Margin24.8327.9118.6622.2228.6228.9828.0024.0726.67
Shares Outstanding1,558.641,556.661,554.851,552.421,550.221,550.171,557.371,555.891,554.58
Market Capitalization302,769.71302,769.71187,123.79146,050.73156,895.74147,898.85128,930.52132,389.83103,779.76

Income statement, quarterly

Currency USD, millions
Metric2026Q32026Q22026Q12025Q42025Q32025Q22025Q12024Q4
Total Revenue11,396.0011,161.0010,124.0010,333.0010,829.0010,129.009,249.009,653.00
Cost of Goods Sold Incl. D&A3,908.003,860.003,567.003,559.003,730.003,525.003,281.003,665.00
Gross Profit7,488.007,301.006,557.006,774.007,099.006,604.005,968.005,988.00
Selling, General and Administrative Excl. Other2,874.002,860.002,927.003,264.002,837.003,715.002,193.003,441.00
Other Operating Expense0.000.000.000.000.000.000.000.00
Operating Income4,614.004,441.003,630.003,510.004,262.002,889.003,775.002,547.00
Interest Expense210.00379.00366.00343.00420.00470.00465.00970.00
Unusual Expense-201.00-175.00-353.00-12.00-168.00-1,004.0032.00-695.00
Net Income Before Taxes4,594.004,292.003,661.003,146.004,019.003,424.003,291.002,917.00
Income Taxes986.00955.00676.00675.00751.00652.00659.00872.00
Consolidated Net Income3,514.002,978.002,575.002,244.003,603.003,140.002,829.00-487.00
Net Income From Continuing Operations3,305.002,810.002,431.002,135.003,468.003,031.002,682.00-580.00
Net Income3,305.002,810.002,431.002,135.003,468.003,031.002,682.00-580.00
EPS (Recurring)2.031.721.401.362.151.491.74-0.69
EPS (Basic, Before Extraordinaries)2.121.801.561.372.231.951.72-0.37
EPS (Diluted)2.121.801.561.372.231.951.72-0.37
EBITDA5,125.004,954.004,140.004,031.004,767.003,379.004,255.003,024.00
Non-Operating Income (Expense)-11.0055.0044.00-33.009.001.0013.00645.00
Other After Tax Adjustments-8.00-518.00-7.00-6.00-10.00-8.00-8.00-2,317.00
Stock Option Compensation Expense24.0032.0064.0045.0331.6033.9790.0688.48
Price To Earnings Ratio28.3625.4822.7629.0530.7837.4335.1119.09
Price To Sales Ratio6.926.656.226.166.347.296.474.97
Gross Margin65.7165.4264.7765.5665.5665.2064.5362.03
Operating Margin40.4939.7935.8633.9739.3628.5240.8226.39
Net Margin29.0025.1824.0120.6632.0329.9229.00-6.01
Shares Outstanding1,558.641,558.601,558.531,556.661,556.621,556.581,556.491,554.85
Market Capitalization302,769.71281,959.09257,381.47249,685.06252,478.90283,488.99246,802.93187,123.79

Balance sheet, annual

Currency USD, millions
Metric2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY
Cash & Short Term Investments4,892.004,254.003,146.003,217.004,500.007,285.006,865.006,593.008,447.00
Short Term Receivables5,810.004,675.004,391.004,756.003,940.003,761.003,717.003,564.003,738.00
Inventories11,478.009,453.0010,774.009,886.008,720.009,591.009,235.008,804.008,806.00
Other Current Assets2,183.001,788.001,444.001,760.00557.00855.00697.00481.00603.00
Total Current Assets24,363.0020,170.0019,755.0019,619.0017,717.0021,492.0020,514.0019,442.0021,594.00
Net Property, Plant & Equipment9,076.007,895.008,147.007,304.006,694.007,062.007,397.007,201.007,271.00
Total Investments and Advances3,075.002,969.005,082.004,772.004,485.004,804.004,635.001,269.001,074.00
Intangible Assets28,148.0027,927.0026,643.0026,387.009,498.007,983.007,971.009,467.0010,098.00
Deferred Tax Assets1,247.00940.00814.00603.00895.001,410.001,153.00977.001,007.00
Other Assets3,276.001,883.004,863.002,996.002,001.002,064.001,205.001,445.001,924.00
Total Assets69,185.0061,784.0065,304.0061,681.0041,290.0044,815.0042,875.0039,801.0042,968.00
Short Term Debt Incl. Current Port. of LT Debt3,701.003,529.006,666.008,248.003,215.003,558.004,583.004,784.003,005.00
Accounts Payable4,407.003,952.004,143.004,076.003,331.002,780.002,299.002,068.002,242.00
Income Tax Payable1,255.001,258.001,158.001,040.001,025.001,091.00796.00576.00812.00
Other Current Liabilities16,064.0014,176.0014,416.0013,972.0011,684.0012,186.0011,155.009,763.009,903.00
Total Current Liabilities25,427.0022,915.0026,383.0027,336.0019,255.0019,615.0018,833.0017,191.0015,962.00
Long Term Debt45,660.0042,593.0041,699.0035,311.0025,127.0028,685.0027,225.0026,975.0031,334.00
Provision for Risks Charges2,406.002,940.003,046.001,984.002,968.004,470.003,634.003,083.002,271.00
Deferred Tax Liabilities2,065.002,517.002,335.001,956.00726.00684.00908.00898.00799.00
Other Liabilities1,655.00689.001,287.001,405.001,422.001,992.001,874.002,393.002,832.00
Total Liabilities77,213.0071,654.0074,750.0067,992.0049,498.0055,446.0052,474.0050,540.0053,198.00
Non-Equity Reserves0.000.000.000.000.000.000.000.000.00
Preferred Stock - Carrying Value0.000.000.000.000.000.000.000.000.00
Common Equity-9,994.00-11,750.00-11,225.00-8,957.00-10,106.00-12,567.00-11,577.00-12,459.00-12,086.00
Total Shareholders Equity-9,994.00-11,750.00-11,225.00-8,957.00-10,106.00-12,567.00-11,577.00-12,459.00-12,086.00
Accumulated Minority Interest1,966.001,880.001,779.002,646.001,898.001,936.001,978.001,720.001,856.00
Total Equity-8,028.00-9,870.00-9,446.00-6,311.00-8,208.00-10,631.00-9,599.00-10,739.00-10,230.00
Total Liabilities & Stockholders Equity69,185.0061,784.0065,304.0061,681.0041,290.0044,815.0042,875.0039,801.0042,968.00
Book Value Per Share-6.42-7.56-7.23-5.78-6.52-8.07-7.44-8.01-7.78
Tangible Book Value Per Share-24.50-25.52-24.39-22.80-12.65-13.20-12.56-14.10-14.28
Full-Time Employees84,90083,10082,70079,80069,60071,00073,50077,40080,600
Price to Book Ratio-38.15-19.30-15.48-17.17-14.57-10.26-11.44-8.33-14.39
Return on Assets17.2811.0712.2717.5321.1018.3317.3419.0815.09
Return on Invested Capital31.7322.8125.5734.2460.4749.8645.8154.3931.28
Quick Ratio0.510.470.340.360.470.610.600.620.80
Current Ratio0.960.880.750.720.921.101.091.131.35

Cash flow, annual

Currency USD, millions
MetricTTM2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY
Net Income11,339.0011,848.007,503.008,268.009,527.009,710.008,592.007,728.008,286.00
Depreciation2,055.001,996.001,787.001,398.001,189.00998.00981.00964.00989.00
Other Funds (Non Cash)575.00341.002,671.00710.00-93.00-22.00-14.00371.000.00
Funds from Operations13,520.0013,338.0011,838.0010,046.0010,389.0010,669.009,416.008,922.009,175.00
Extraordinary Item0.000.000.000.000.000.000.000.000.00
Changes in Working Capital1,634.00-1,105.00379.00-842.00414.001,298.00396.001,168.00303.00
Income Taxes Payable460.00-266.00-62.00-232.00-261.00-260.00-260.0075.00-135.00
Cash from Operating Activities15,154.0012,233.0012,217.009,204.0010,803.0011,967.009,812.0010,090.009,478.00
Capital Expenditures-1,559.00-1,569.00-1,444.00-1,321.00-1,077.00-748.00-602.00-852.00-1,436.00
Net Assets From Acquisitions-552.00-521.00-489.00-1,320.00-16,325.00-2,691.00-776.00--81.00
Sale of Fixed Assets and Businesses85.0030.00179.000.000.000.000.0051.000.00
Purchase or Sale of Investments42.00-149.00-124.00-111.00-20.00-34.00-47.00-31.00-63.00
Purchase of Investments-267.00-265.00-124.00-111.00-20.00-34.00-47.00-31.00-63.00
Sale Or Maturity of Investments309.00116.000.000.000.000.000.000.000.00
Other Uses103.00-2,279.00-54.00-2,435.00-1,002.000.00-551.00-1,346.000.00
Other Sources417.000.00351.00269.00396.00535.0046.00418.00501.00
Cash from Investing Activities-1,464.00-4,488.00-1,581.00-4,918.00-18,028.00-2,938.00-1,930.00-1,760.00-1,079.00
Cash Dividends Paid-9,198.00-8,624.00-8,197.00-7,964.00-7,812.00-7,580.00-7,364.00-7,161.00-6,885.00
Change in Capital Stock0.000.000.000.00-209.00-775.000.000.000.00
Repurchase of Common Pref Stock0.000.000.000.00-209.00-775.000.000.000.00
Sale of Common Pref Stock0.000.000.000.000.000.000.000.000.00
Proceedsfrom Stock Options0.000.000.000.000.000.000.000.000.00
Issuance or Reduction of Debt, Net-2,041.001,706.00-1,623.003,702.0014,176.00-3,042.00-356.00-543.00-2,229.00
Change in Long Term Debt-2,702.001,687.00171.002,978.0013,161.00-3,042.00-286.00-179.00-2,484.00
Issuance of Long Term Debt4,937.007,055.008,142.009,959.0019,885.000.003,713.003,819.000.00
Reduction of Long Term Debt-7,639.00-5,368.00-7,971.00-6,981.00-6,724.00-3,042.00-3,999.00-3,998.00-2,484.00
Net Financing Active Other Cash Flow390.00-693.00828.000.000.000.000.00-408.00-456.00
Other Financing Activities Uses122.00-693.000.000.000.000.000.00-408.00-456.00
Cash from Financing Activities-10,849.00-7,611.00-8,992.00-4,262.006,155.00-11,397.00-7,720.00-8,112.00-9,570.00
Exchange Rate Effect-196.00504.00-536.00-95.00-213.00-417.00258.0027.00-685.00
Net Change in Cash2,645.00638.001,108.00-71.00-1,283.00-2,785.00420.00245.00-1,856.00
Free Cash Flow13,595.0010,664.0010,773.007,883.009,726.0011,219.009,210.009,238.008,042.00
Preferred Dividends (Cash Flow)-0.000.000.000.000.000.000.000.00
Price to Free Cash Flow67.70122.5072.70-82.0740.7069.8763.7589.72
Deferred Taxes & Investment Tax Credit--847.00-123.00-330.00-234.00-17.00-143.00-141.00-100.00

Balance sheet, quarterly

Currency USD, millions
Metric2026Q32026Q22026Q12025Q42025Q32025Q2
Cash & Short Term Investments6,706.006,037.005,470.004,892.004,061.004,176.00
Short Term Receivables6,531.006,474.006,390.005,810.005,823.005,889.00
Inventories10,326.0011,436.0011,392.0011,478.0010,267.0010,728.00
Other Current Assets2,225.002,059.002,350.002,183.002,514.002,571.00
Total Current Assets25,788.0026,006.0025,602.0024,363.0022,665.0023,364.00
Net Property, Plant & Equipment8,369.008,313.008,259.009,076.008,115.008,043.00
Total Investments and Advances2,116.002,272.002,656.003,075.003,316.003,531.00
Intangible Assets26,613.0027,095.0027,581.0028,148.0028,327.0028,607.00
Deferred Tax Assets1,224.001,137.001,197.001,247.001,057.001,111.00
Other Assets2,620.003,448.003,618.003,276.003,581.003,850.00
Total Assets66,730.0068,271.0068,913.0069,185.0067,061.0068,506.00
Short Term Debt Incl. Current Port. of LT Debt5,853.006,747.008,140.003,701.008,219.009,031.00
Accounts Payable4,036.003,919.003,927.004,407.003,978.003,870.00
Income Tax Payable1,361.001,076.001,091.001,255.00835.00786.00
Other Current Liabilities13,945.0014,800.0013,064.0016,064.0013,687.0014,461.00
Total Current Liabilities25,195.0026,542.0026,222.0025,427.0026,719.0028,148.00
Long Term Debt41,709.0042,366.0043,808.0045,660.0041,863.0042,431.00
Provision for Risks Charges2,140.002,249.002,340.002,406.003,222.003,295.00
Deferred Tax Liabilities1,983.002,057.002,013.002,065.001,999.002,152.00
Other Liabilities1,648.001,714.001,830.001,655.002,242.002,492.00
Total Liabilities72,675.0074,928.0076,213.0077,213.0076,045.0078,518.00
Non-Equity Reserves0.000.000.000.000.000.00
Preferred Stock - Carrying Value0.000.000.000.000.000.00
Common Equity-7,937.00-8,583.00-9,279.00-9,994.00-10,914.00-11,966.00
Total Shareholders Equity-7,937.00-8,583.00-9,279.00-9,994.00-10,914.00-11,966.00
Accumulated Minority Interest1,992.001,926.001,979.001,966.001,930.001,954.00
Total Equity-5,945.00-6,657.00-7,300.00-8,028.00-8,984.00-10,012.00
Total Liabilities & Stockholders Equity66,730.0068,271.0068,913.0069,185.0067,061.0068,506.00
Book Value Per Share-5.09-5.51-5.95-6.42-7.01-7.69
Tangible Book Value Per Share-22.17-22.89-23.65-24.50-25.21-26.07
Full-Time Employees---84,900--
Price to Book Ratio-38.15-30.39-25.75-22.88-21.10-26.01
Return on Assets15.9715.8616.5217.2812.8412.22
Return on Invested Capital9.798.327.045.9911.219.95
Quick Ratio0.610.550.540.510.460.45
Current Ratio1.020.980.980.960.850.83

Cash flow, quarterly

Currency USD, millions
Metric2026Q32026Q22026Q12025Q42025Q32025Q2
Net Income3,522.002,985.002,582.002,250.003,613.003,148.00
Depreciation511.00513.00510.00521.00505.00490.00
Other Funds (Non Cash)-5.00499.00-3.0084.00-23.00281.00
Funds from Operations4,003.004,054.003,022.002,441.003,936.003,712.00
Extraordinary Item0.000.000.000.000.000.00
Changes in Working Capital1,349.001,438.00-3,421.002,268.00526.00-300.00
Income Taxes Payable362.00-29.00-171.00298.0047.00-591.00
Cash from Operating Activities5,352.005,492.00-399.004,709.004,462.003,412.00
Capital Expenditures-382.00-380.00-353.00-444.00-365.00-356.00
Net Assets From Acquisitions-125.00-210.00-116.00-101.00-152.00-182.00
Sale of Fixed Assets and Businesses0.0087.000.00-2.000.0032.00
Purchase or Sale of Investments0.0088.0055.00-101.00-13.00-25.00
Purchase of Investments0.00-10.00-40.00-217.00-13.00-25.00
Sale Or Maturity of Investments0.0098.0095.00116.000.000.00
Other Uses1.002.00-19.00119.00-411.00-1,961.00
Other Sources-126.00229.00314.000.000.00-6.00
Cash from Investing Activities-632.00-184.00-119.00-529.00-941.00-2,498.00
Cash Dividends Paid-2,299.00-2,297.00-2,307.00-2,295.00-2,107.00-2,106.00
Preferred Dividends (Cash Flow)0.000.000.000.000.000.00
Change in Capital Stock0.000.000.000.000.000.00
Repurchase of Common Pref Stock0.000.000.000.000.000.00
Sale of Common Pref Stock0.000.000.000.000.000.00
Proceedsfrom Stock Options0.000.000.000.000.000.00
Issuance or Reduction of Debt, Net-1,381.00-2,734.003,381.00-1,307.00-1,411.00945.00
Change in Long Term Debt-566.00-401.00-2,142.00407.00-750.002,852.00
Issuance of Long Term Debt0.001,478.000.003,459.000.003,596.00
Reduction of Long Term Debt-566.00-1,879.00-2,142.00-3,052.00-750.00-744.00
Net Financing Active Other Cash Flow-136.00266.00138.00122.009.00-218.00
Other Financing Activities Uses0.000.000.00122.009.00-218.00
Cash from Financing Activities-3,816.00-4,765.001,212.00-3,480.00-3,509.00-1,379.00
Exchange Rate Effect-222.0011.00-116.00131.00-127.00165.00
Net Change in Cash682.00554.00578.00831.00-115.00-300.00
Free Cash Flow4,970.005,112.00-752.004,265.004,097.003,056.00
Price to Free Cash Flow67.7075.95139.26122.50149.71447.57

Revenue breakdown

Combustible Tobacco Products2024: 23.22B 2025: 23.79B
Smoke-Free Products2024: 14.66B 2025: 16.85B
Americas2024: 4.53B 2025: 4.85B
EA, AU & PMI GTR2024: 6.39B 2025: 6.63B
European Union2024: 15.69B 2025: 17.11B
South and Southeast Asia2024: 11.26B 2025: 12.05B

Short interest

shares short against float, oldest to newest
SettlementOf floatShares shortFloatAvg volume
2026-10-300.96%14.9M1555.4M4.49M
2026-10-151.11%17.3M1555.3M4.69M
2026-09-301.14%17.7M1555.3M4.69M
2026-09-150.89%13.8M1555.3M4.91M
2026-08-311.07%16.6M1555.2M4.95M
2026-08-140.84%13.0M1555.2M4.96M
2026-07-311.04%16.1M1555.1M5.09M
2026-07-151.13%17.5M1555.1M4.95M
2026-06-301.17%18.2M1555.1M4.99M
2026-06-151.09%16.9M1554.5M4.70M
2026-05-291.04%16.2M1555.1M4.97M
2026-05-151.13%17.6M1555.1M4.97M
2026-04-301.05%16.3M1555.0M5.17M
2026-04-151.07%16.6M1555.0M5.26M
2026-03-311.10%17.0M1553.2M5.34M
2026-03-131.05%16.4M1553.2M5.65M
2026-02-271.09%16.9M1553.2M5.55M
2026-02-131.23%19.1M1553.2M5.75M
2026-01-301.28%19.8M1554.2M5.62M
2026-01-151.25%19.4M1554.2M6.32M

Option chain

expiry 2026-11-13
TypeStrikeBidAskLastIVOpen intVolumeDeltaThetaVega
call10092.2094.300.005.1710.000.000.997-0.1090.001
call10587.1089.600.005.1120.000.000.996-0.1080.001
call11081.9085.100.005.1490.000.000.996-0.1080.002
call11577.1080.0078.774.7410.001.000.996-0.1070.002
call12072.0075.1073.824.3700.001.000.996-0.1070.002
call12567.0070.100.004.0600.000.000.995-0.1060.002
call13062.0065.100.003.8570.000.000.980-0.4540.007
call13557.0060.200.003.6120.000.000.979-0.4460.007
call14052.0055.200.003.3220.000.000.977-0.4380.008
call14547.0050.200.003.0380.000.000.974-0.4290.009
call15042.0045.200.002.7610.000.000.972-0.4200.009
call15537.0040.200.002.4890.000.000.969-0.4080.010
call16032.1035.200.002.2210.000.000.965-0.3960.011
call16527.0030.200.001.9560.000.000.960-0.3810.012
call167.524.6027.700.001.8230.000.000.957-0.3730.013
call17022.0025.200.001.6910.000.000.953-0.3640.014
call172.519.6022.700.001.5590.000.000.949-0.3540.015
call17517.0020.200.001.4260.000.000.941-0.3630.017
call177.514.5017.700.001.2910.000.000.927-0.4000.020
call18012.3015.2019.551.1557.000.000.908-0.4330.024
call182.59.8012.7017.151.0174.000.000.884-0.4590.028
call1857.5010.209.810.8745.000.000.853-0.4730.033
call187.55.107.808.730.74613.000.000.783-0.5650.042
call1903.604.303.900.38919.0010.000.725-0.4800.048
call192.52.003.203.420.47733.000.000.557-0.6790.057
call1950.801.501.440.3936658.000.406-0.6120.056
call197.50.350.550.470.3371412.000.252-0.4700.046
call2000.050.150.150.31132843.000.142-0.3310.032
call202.50.000.400.200.39669.000.000.113-0.3410.028
call2050.000.050.030.3682671.000.080-0.2680.022
call207.50.000.450.050.45957.000.000.039-0.1610.012
call2100.000.050.020.5655134.000.044-0.1990.014
call212.50.000.050.150.6382510.000.030-0.1530.010
call2150.001.150.050.6493700.000.015-0.0880.006
call217.50.002.100.500.70432.000.000.014-0.0900.005
call2200.000.100.050.7542880.000.013-0.0900.005
call222.50.002.100.600.8253.000.000.012-0.0940.005
call2250.000.850.350.88128.000.000.012-0.0950.004
call227.50.002.150.220.9361.000.000.011-0.0960.004
call2300.001.200.650.9903.000.000.010-0.0980.004
call232.50.002.150.001.0490.000.000.010-0.0980.004
call2350.001.400.501.0968.000.000.010-0.1000.004
call237.50.002.150.001.1470.000.000.009-0.1010.004
call2400.002.100.091.1973.000.000.009-0.1020.003
call2450.001.150.051.29618.000.000.008-0.1040.003
call2500.002.150.051.39119.000.000.008-0.1060.003
call2550.000.050.051.24651.000.000.007-0.0780.003
call2600.002.150.001.5760.000.000.007-0.1080.003
call2650.002.150.001.6580.000.000.007-0.1090.003
call2700.000.050.051.47229.000.000.006-0.0810.003
call2750.002.100.001.8320.000.000.006-0.1120.002
call2800.000.250.001.6120.000.000.006-0.0820.003
put1000.000.050.034.1301.000.00-0.022-0.6550.009
put1050.002.150.083.1341.000.00-0.003-0.1120.001
put1100.002.150.002.9100.000.00-0.004-0.1110.002
put1150.002.150.002.69810.000.00-0.004-0.1100.002
put1200.002.150.002.4950.000.00-0.004-0.1090.002
put1250.000.050.002.8920.000.00-0.031-0.6130.012
put1300.002.150.002.7130.000.00-0.019-0.4560.007
put1350.002.150.002.4880.000.00-0.021-0.4480.007
put1400.002.150.002.2700.000.00-0.023-0.4390.008
put1450.002.150.002.0570.000.00-0.025-0.4300.009
put1500.002.150.001.8300.000.00-0.028-0.4160.009
put1550.002.150.001.6280.000.00-0.031-0.4050.010
put1600.002.150.001.4290.000.00-0.035-0.3920.011
put1650.002.150.051.23218.000.00-0.040-0.3770.013
put167.50.002.150.001.1540.000.00-0.043-0.3720.013
put1700.001.151.091.05126.000.00-0.046-0.3620.014
put172.50.002.150.000.9590.000.00-0.050-0.3530.015
put1750.001.150.100.85627.000.00-0.059-0.3600.017
put177.50.002.150.000.7580.000.00-0.073-0.3970.020
put1800.002.150.050.6591070.00-0.092-0.4300.024
put182.50.002.200.140.56034.000.00-0.116-0.4550.028
put1850.100.300.180.45951.000.00-0.147-0.4690.033
put187.50.150.550.250.43070.000.00-0.216-0.5610.042
put1900.551.050.650.41464.002.00-0.275-0.4760.048
put192.51.402.401.250.4895440.00-0.443-0.6750.057
put1952.553.803.000.50359.001.00-0.594-0.6070.056
put197.53.905.603.290.5341830.00-0.748-0.4650.046
put2005.807.905.320.6271030.00-0.858-0.3250.032
put202.57.5010.609.200.79589.001.00-0.887-0.3350.028
put20510.0012.8011.800.8741880.00-0.941-0.1960.017
put207.512.5015.5012.670.99775.000.00-0.960-0.1540.012
put21015.5017.708.001.01537.000.00-0.975-0.1100.008
put212.517.5020.6010.431.23021.000.00-0.983-0.0820.006
put21520.0022.900.001.2680.000.00-0.985-0.0810.006
put217.522.5025.600.001.4230.000.00-0.986-0.0830.005
put22025.0027.9012.151.4500.000.00-0.987-0.0840.005
put222.527.4030.800.001.5380.000.00-0.987-0.0860.005
put22530.0033.600.001.7860.000.00-0.988-0.0870.004
put227.532.4036.000.001.8410.000.00-0.989-0.0880.004
put23034.9038.4023.001.9580.000.00-0.989-0.0890.004
put232.537.4041.400.002.1370.000.00-0.990-0.0900.004
put23539.9043.900.002.2820.000.00-0.990-0.0910.004
put237.542.5046.4042.332.3652.000.00-0.991-0.0910.004
put24044.9048.3044.832.2442.000.00-0.991-0.0920.003
put24549.9053.900.002.6020.000.00-0.992-0.0930.003
put25054.9058.900.002.7190.000.00-0.992-0.0940.003
put25559.9063.700.002.8280.000.00-0.992-0.0950.003
put26064.9068.700.002.9670.000.00-0.993-0.0960.003
put26569.9073.900.003.1010.000.00-0.993-0.0970.003
put27074.9078.600.003.1110.000.00-0.993-0.0980.003
put27579.9083.900.003.3960.000.00-0.994-0.0980.002
put28084.9088.900.003.5580.000.00-0.994-0.0990.002

Latest SEC filings

30
FiledFormDescriptionPeriodLink
2026-10-2310-QQuarterly report pursuant to Section 13 or 15(d)2026-09-30SEC
2026-10-218-KCurrent report2026-10-21SEC
2026-09-188-KCurrent report2026-09-18SEC
2026-09-088-KCurrent report2026-09-08SEC
2026-09-088-KCurrent report2026-09-08SEC
2026-08-248-KCurrent report2026-08-24SEC
2026-08-033Initial statement of beneficial ownership of securities2026-08-01SEC
2026-08-0325-NSESEC
2026-07-2410-QQuarterly report pursuant to Section 13 or 15(d)2026-06-30SEC
2026-07-228-KCurrent report2026-07-22SEC
2026-07-098-KCurrent report2026-07-06SEC
2026-06-2911-KAnnual reports of employee stock purchase, savings and similar plans pursuant to Section 15(d)2025-12-31SEC
2026-06-298-KCurrent report2026-06-29SEC
2026-06-168-K/A2026-05-18SEC
2026-06-118-KCurrent report2026-06-11SEC
2026-06-028-KCurrent report2026-06-02SEC
2026-05-22SDSpecialized Disclosure ReportSEC
2026-05-208-KCurrent report2026-05-18SEC
2026-05-14SCHEDULE 13G/ASEC
2026-05-14SCHEDULE 13GSEC
2026-05-084Statement of changes in beneficial ownership of securities2026-05-06SEC
2026-05-084Statement of changes in beneficial ownership of securities2026-05-06SEC
2026-05-084Statement of changes in beneficial ownership of securities2026-05-06SEC
2026-05-084Statement of changes in beneficial ownership of securities2026-05-06SEC
2026-05-084Statement of changes in beneficial ownership of securities2026-05-06SEC
2026-05-084Statement of changes in beneficial ownership of securities2026-05-06SEC
2026-05-084Statement of changes in beneficial ownership of securities2026-05-06SEC
2026-05-084Statement of changes in beneficial ownership of securities2026-05-06SEC
2026-05-084Statement of changes in beneficial ownership of securities2026-05-06SEC
2026-05-088-KCurrent report2026-05-06SEC

Insider activity by month

MonthBoughtBuysSoldSells
2026-110000
2026-100000
2026-090000
2026-080000
2026-070000
2026-060000
2026-050000
2026-040000
2026-030000
2026-020028.82M7
2026-010000
2025-120000
2025-110000

Institutional holders

Manager% owned
Capital World Investors8.54%
BlackRock, Inc.6.93%
VANGUARD CAPITAL MANAGEMENT LLC6.53%
Capital Research Global Investors5.41%
Capital International Investors4.64%
STATE STREET CORP3.57%
FMR LLC3.56%
JPMORGAN CHASE & CO3.09%
GQG Partners LLC2.92%
GEODE CAPITAL MANAGEMENT, LLC2.54%

Funds

Fund% owned
Dodge & Cox Income Fund3.63%
VANGUARD TOTAL STOCK MARKET INDEX FUND3.17%
Washington Mutual Investors Fund2.71%
Lord Abbett Ultra Short Bond Fund2.66%
VANGUARD 500 INDEX FUND2.59%
VANGUARD INTERMEDIATE-TERM INVESTMENT-GRADE FUND2.51%
VANGUARD INTERMEDIATE-TERM CORPORATE BOND INDEX FUND2.37%
American Funds Fundamental Investors2.33%
Investment Co of America1.51%
iShares Ultra Short Duration Bond Active ETF1.41%

OakChart. PM. Cached 15 minutes.