Philip Morris International (PM)

NYSE Consumer Staples Tobacco S&P 500

$197.88

-3.62 (-1.80%)

Close of Nov 06, 2026 · end-of-day data

Source: Philip Morris International's 10-K / 10-Q XBRL data on SEC EDGAR · fetched Nov 02, 2026

Revenue, net income & free cash flow

Income statement

fiscal years · USD

Fiscal year	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Revenue	$26.68B	$28.75B	$29.62B	$29.80B	$28.69B	$31.41B	$31.76B	$35.17B	$37.88B	$40.65B
Cost of revenue	$9.39B	$10.43B	$10.76B	$10.51B	$9.57B	$10.03B	$11.40B	$12.89B	$13.33B	$13.37B
Gross profit	$17.29B	$18.32B	$18.87B	$19.29B	$19.12B	$21.38B	$20.36B	$22.28B	$24.55B	$27.28B
Research & development	$429.00M	$453.00M	$383.00M	$465.00M	$495.00M	$617.00M	$642.00M	$709.00M	$759.00M	$756.00M
Operating income	$10.90B	$11.58B	$11.38B	$10.53B	$11.67B	$12.97B	$12.25B	$11.56B	$13.40B	$14.89B
Interest expense	$1.07B	$1.10B	$855.00M	$796.00M	$728.00M	$737.00M	$768.00M	$1.53B	$1.76B	$1.59B
Pre-tax income	$9.92B	$10.59B	$10.67B	$9.87B	$10.95B	$12.23B	$11.63B	$10.45B	$12.20B	$13.88B
Income tax	$2.77B	$4.31B	$2.44B	$2.29B	$2.38B	$2.67B	$2.24B	$2.34B	$3.02B	$2.74B
Net income	$6.97B	$6.04B	$7.91B	$7.18B	$8.06B	$9.11B	$9.05B	$7.81B	$7.06B	$11.35B
EBITDA	$11.65B	$12.46B	$12.37B	$11.49B	$12.65B	$13.97B	$13.32B	$12.95B	$15.19B	$16.89B
EPS (basic)	$4.48	$3.88	$5.08	$4.61	$5.16	$5.83	$5.82	$5.02	$4.53	$7.27
EPS (diluted)	$4.48	$3.88	$5.08	$4.61	$5.16	$5.83	$5.81	$5.02	$4.52	$7.26
Diluted shares	1.55B	1.55B	1.55B	1.56B	1.56B	1.56B	1.55B	1.55B	1.56B	1.56B
Gross margin	64.8%	63.7%	63.7%	64.7%	66.7%	68.1%	64.1%	63.3%	64.8%	67.1%
Operating margin	40.9%	40.3%	38.4%	35.3%	40.7%	41.3%	38.6%	32.9%	35.4%	36.6%
Net margin	26.1%	21.0%	26.7%	24.1%	28.1%	29.0%	28.5%	22.2%	18.6%	27.9%

Balance sheet

fiscal years · USD

Fiscal year	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Cash & equivalents	$4.24B	$8.45B	$6.59B	$6.86B	$7.28B	$4.50B	$3.21B	$3.06B	$4.22B	$4.87B
Receivables	$3.50B	$3.19B	$2.95B	$3.08B	$2.90B	$3.12B	$3.85B	$3.46B	$3.79B	$4.57B
Inventory	$9.02B	$8.81B	$8.80B	$9.23B	$9.59B	$8.72B	$9.89B	$10.77B	$9.45B	$11.48B
Total current assets	$17.61B	$21.59B	$19.44B	$20.51B	$21.49B	$17.72B	$19.62B	$19.75B	$20.17B	$24.36B
Goodwill	$7.32B	$7.67B	$7.19B	$5.86B	$5.96B	$6.68B	$19.66B	$16.78B	$16.60B	$17.26B
Total assets	$36.85B	$42.97B	$39.80B	$42.88B	$44.81B	$41.29B	$61.68B	$65.30B	$61.78B	$69.19B
Total current liabilities	$16.47B	$15.96B	$17.19B	$18.83B	$19.61B	$19.25B	$27.34B	$26.38B	$22.91B	$25.43B
Short-term debt	$643.00M	$499.00M	$730.00M	$338.00M	$244.00M	$225.00M	$5.64B	$1.97B	$137.00M	$168.00M
Long-term debt	$25.85B	$31.33B	$26.98B	$26.66B	$28.17B	$24.78B	$34.88B	$41.24B	$42.17B	$45.13B
Total debt	$26.49B	$31.83B	$27.70B	$26.99B	$28.41B	$25.01B	$40.51B	$43.21B	$42.30B	$45.30B
Total liabilities	$47.75B	$53.20B	$50.54B	$52.47B	$55.45B	$49.50B	$67.99B	$74.75B	$71.65B	$77.21B
Shareholders' equity	-$12.69B	-$12.09B	-$12.46B	-$11.58B	-$12.57B	-$10.11B	-$8.96B	-$11.22B	-$11.75B	-$9.99B

Cash flow

fiscal years · USD

Fiscal year	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Operating cash flow	$8.08B	$8.91B	$9.48B	$10.09B	$9.81B	$11.97B	$10.80B	$9.20B	$12.22B	$12.23B
Capital expenditures	$1.17B	$1.55B	$1.44B	$852.00M	$602.00M	$748.00M	$1.08B	$1.32B	$1.44B	$1.57B
Free cash flow	$6.91B	$7.36B	$8.04B	$9.24B	$9.21B	$11.22B	$9.73B	$7.88B	$10.77B	$10.66B
Investing cash flow	-$834.00M	-$3.08B	-$998.00M	-$1.81B	-$1.15B	-$2.36B	-$15.68B	-$3.60B	-$1.09B	-$3.97B
Financing cash flow	-$5.41B	-$2.77B	-$9.65B	-$8.06B	-$8.50B	-$11.98B	$3.81B	-$5.58B	-$9.48B	-$8.13B
Dividends paid	$6.38B	$6.52B	$6.88B	$7.16B	$7.36B	$7.58B	$7.81B	$7.96B	$8.20B	$8.62B
Share buybacks	$0	$0	—	$0	$0	$775.00M	$209.00M	$0	$0	—
Depreciation & amortization	$743.00M	$875.00M	$989.00M	$964.00M	$981.00M	$998.00M	$1.08B	$1.40B	$1.79B	$2.00B

Income statement

quarters · USD

Quarter ended	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026	Sep 2026
Revenue	$9.05B	$8.79B	$9.47B	$9.91B	$9.71B	$9.30B	$10.14B	$10.85B	$10.36B	$10.15B	$11.19B	$11.44B
Cost of revenue	$3.46B	$3.19B	$3.35B	$3.37B	$3.42B	$3.03B	$3.27B	$3.48B	$3.58B	$3.24B	$3.53B	$3.58B
Gross profit	$5.58B	$5.60B	$6.12B	$6.54B	$6.28B	$6.27B	$6.87B	$7.36B	$6.79B	$6.91B	$7.66B	$7.85B
Operating income	$2.89B	$3.04B	$3.44B	$3.65B	$3.26B	$3.54B	$3.71B	$4.26B	$3.37B	$3.89B	$4.53B	$4.87B
Pre-tax income	$2.61B	$2.73B	$3.10B	$3.45B	$2.92B	$3.29B	$3.42B	$4.02B	$3.15B	$3.66B	$4.29B	$4.59B
Income tax	$320.00M	$676.00M	$734.00M	$735.00M	$872.00M	$659.00M	$652.00M	$751.00M	$675.00M	$676.00M	$955.00M	$986.00M
Net income	$2.20B	$2.15B	$2.41B	$3.08B	-$579.00M	$2.69B	$3.04B	$3.48B	$2.14B	$2.44B	$2.82B	$3.31B
EBITDA	—	$3.41B	$3.89B	$4.15B	$3.74B	$4.02B	$4.20B	$4.77B	$3.89B	$4.40B	$5.04B	$5.38B
EPS (basic)	$1.41	$1.38	$1.54	$1.98	$-0.37	$1.72	$1.95	$2.23	$1.37	$1.56	$1.80	$2.12
EPS (diluted)	$1.41	$1.38	$1.54	$1.97	$-0.37	$1.72	$1.95	$2.23	$1.37	$1.56	$1.80	$2.12
Diluted shares	0	1.55B	1.56B	1.56B	0	1.56B	1.56B	1.56B	0	1.56B	1.56B	1.56B
Gross margin	61.7%	63.7%	64.7%	66.0%	64.7%	67.4%	67.7%	67.9%	65.5%	68.1%	68.4%	68.7%
Operating margin	31.9%	34.6%	36.4%	36.9%	33.6%	38.1%	36.6%	39.3%	32.6%	38.4%	40.5%	42.5%
Net margin	24.3%	24.4%	25.4%	31.1%	-6.0%	28.9%	30.0%	32.1%	20.7%	24.0%	25.2%	29.0%

Balance sheet

quarters · USD

Quarter ended	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026	Sep 2026
Cash & equivalents	$3.06B	$3.97B	$4.81B	$4.26B	$4.22B	$4.44B	$4.14B	$4.04B	$4.87B	$5.45B	$6.00B	$6.68B
Receivables	$3.46B	$4.19B	$4.24B	$4.24B	$3.79B	$4.88B	$4.99B	$4.80B	$4.57B	$5.12B	$5.18B	$5.16B
Inventory	$10.77B	$9.97B	$9.38B	$9.36B	$9.45B	$10.13B	$10.73B	$10.27B	$11.48B	$11.39B	$11.44B	$10.33B
Total current assets	$19.75B	$20.87B	$21.03B	$20.80B	$20.17B	$22.20B	$23.36B	$22.66B	$24.36B	$25.60B	$26.01B	$25.79B
Goodwill	$16.78B	$16.46B	$16.82B	$17.14B	$16.60B	$16.86B	$17.23B	$17.18B	$17.26B	$17.07B	$16.92B	$16.79B
Total assets	$65.30B	$65.31B	$65.78B	$66.89B	$61.78B	$65.08B	$68.51B	$67.06B	$69.19B	$68.91B	$68.27B	$66.73B
Total current liabilities	$26.38B	$22.17B	$22.42B	$23.37B	$22.91B	$28.09B	$28.15B	$26.72B	$25.43B	$26.22B	$26.54B	$25.20B
Short-term debt	$1.97B	$279.00M	$139.00M	$152.00M	$137.00M	$4.44B	$2.54B	$1.88B	$168.00M	$5.69B	$3.34B	$2.52B
Long-term debt	$41.24B	$44.68B	$44.65B	$44.24B	$42.17B	$38.78B	$42.43B	$41.86B	$45.13B	$43.81B	$42.37B	$41.71B
Total debt	$43.21B	$44.96B	$44.79B	$44.39B	$42.30B	$43.22B	$44.97B	$43.74B	$45.30B	$49.50B	$45.71B	$44.23B
Total liabilities	$74.75B	$73.88B	$73.72B	$74.61B	$71.65B	$74.00B	$78.52B	$76.05B	$77.21B	$76.21B	$74.93B	$72.67B
Shareholders' equity	-$11.22B	-$10.31B	-$9.74B	-$9.69B	-$11.75B	-$10.90B	-$11.97B	-$10.91B	-$9.99B	-$9.28B	-$8.58B	-$7.94B

Cash flow

quarters · USD

Quarter ended	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026	Sep 2026
Operating cash flow	$3.30B	$241.00M	$4.63B	$3.34B	$4.00B	-$350.00M	$3.41B	$4.46B	$4.71B	-$399.00M	$5.49B	$5.35B
Capital expenditures	$311.00M	$417.00M	$370.00M	$379.00M	$278.00M	$404.00M	$356.00M	$365.00M	$444.00M	$353.00M	$380.00M	$382.00M
Free cash flow	$2.99B	-$176.00M	$4.26B	$2.96B	$3.72B	-$754.00M	$3.06B	$4.10B	$4.26B	-$752.00M	$5.11B	$4.97B
Investing cash flow	-$568.00M	-$193.00M	-$337.00M	-$1.00B	$441.00M	-$434.00M	-$2.32B	-$789.00M	-$428.00M	-$3.00M	$26.00M	-$507.00M
Financing cash flow	-$2.90B	$1.14B	-$3.53B	-$2.98B	-$4.10B	$671.00M	-$1.56B	-$3.66B	-$3.58B	$1.10B	-$4.97B	-$3.94B
Dividends paid	$2.02B	$2.04B	$2.03B	$2.03B	$2.11B	$2.12B	$2.11B	$2.11B	$2.29B	$2.31B	$2.30B	$2.30B
Share buybacks	$0	—	—	—	—	—	—	—	—	—	—	—
Depreciation & amortization	—	$367.00M	$445.00M	$498.00M	$477.00M	$480.00M	$490.00M	$505.00M	$521.00M	$510.00M	$513.00M	$511.00M

Quarterly figures are rebuilt from the year-to-date totals companies report — Q4 is the full year minus the first nine months, since no 10-Q is filed for it. Values are as filed; later restatements replace earlier ones. Fiscal years are labelled by the calendar year in which they end.