Philip Morris International Inc. (PMI) is a Swiss-American multinational cigarette and tobacco manufacturing company, with products sold in over 180 countries. The most recognized and best selling product of the company is Marlboro.
| Revenue (TTM) | $42.55B |
| Gross Profit (TTM) | $28.71B |
| EBITDA | $18.02B |
| Operating Margin | 40.00% |
| Return on Equity | 0.00% |
| Return on Assets | 14.60% |
| Revenue/Share (TTM) | $27.32 |
| Book Value | $-5.51 |
| Price-to-Book | 1318.70 |
| Price-to-Sales (TTM) | 6.69 |
| EV/Revenue | 7.83 |
| EV/EBITDA | 17.81 |
| Quarterly Earnings Growth (YoY) | -7.50% |
| Quarterly Revenue Growth (YoY) | 10.40% |
| Shares Outstanding | $1.56B |
| Float | $1.55B |
| % Insiders | 0.16% |
| % Institutions | 84.51% |
Volatility is currently contracting
Philip Morris International is downgraded to Hold as valuation reaches the high end of its historical range. PM's growth is driven by smoke-free products, now 42% of net revenue, with strong execution in international markets. U.S. expansion, especially with IQOS and ZYN, remains a key growth catalyst, but regulatory risks and competitive pressures persist.
The campaign centers on the "click" as a signature brand cue, rolling out across digital, out-of-home, and live cultural moments in 2026 STAMFORD, Conn., Sept. 3, 2026 /PRNewswire/ -- Philip Morris International's U.S. businesses (PMI U.S.) today announced the national rollout of "When It Clicks," ZYN's new brand campaign inspired by the universal moment when effort, timing, and confidence align.
PM's premium positioning across IQOS (heated), ZYN (nicotine pouches), VEEV One (vape), and Marlboro (cigarettes) underscores their robust pricing power amid uncertain macros. The smoke-free segment, led by ZYN and IQOS, now comprises >41% of revenues, supporting a multi-year asset renewal/adoption runway amid secular combustible decline. Premium valuations are justified by strong FCF, rich dividend growth, and lower debt leverage, with PM likely to announce the next payout hike in September.
PM's FDA authorization for 11 ZYN ULTRA nicotine pouches expands its U.S. smoke-free portfolio and supports the long-term transformation.
RICHMOND, Va.--(BUSINESS WIRE)--Altria Announces Arrangement with Philip Morris International to Enhance Operational Efficiency.
July has dealt Wall Street a turbulent hand. US stocks have drifted lower this month, hampered by persistent geopolitical risks, rising crude oil prices, and mounting anxiety over rising AI capex.
Philip Morris International opened a $1.2 billion manufacturing campus in Colorado, part of the tobacco company's efforts to expand its Zyn portfolio and meet rising demand for nicotine pouches.
Philip Morris International said on Monday it had doubled its planned investment in its Colorado manufacturing campus to about $1.2 billion through 2028, as it expands production capacity for the Zyn nicotine pouch business.
Philip Morris delivered strong Q2 results last week with double-digit net revenue and gross profit growth driven by IQOS and VEEV products. IQOS heated tobacco and VEEV vape brands are fueling significant top-line expansion and margin uplift, mainly because of strong shipment growth. PM trades at a forward P/E of 21.2x, much higher than MO or BTI, reflecting its focus on emerging markets and superior EPS growth prospects.
Philip Morris delivered strong Q2 2026 results, with 7.6% organic net revenue growth and robust smoke-free business momentum. However, there are concerns baked into the results. Notably, combustibles see a rise in revenue growth as the company is successfully pivoting away from traditional products. The U.S. market is also a drag on PM, and a reduction in two of three earnings forecasts isn't positive at a time when valuations are already stretched.
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