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Altria Group, Inc.

MO Consumer Defensive Tobacco

Altria Group, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $23.3 billion, down 3.08% from fiscal 2024. In the quarter to June 2026, revenue was flat, EPS fell 2.84%, free cash flow grew 282.7% and total debt was flat, each against the same quarter a year earlier. Member of the S&P 500; dividend growth for ten consecutive years; insiders bought in the last twelve months.

75.11 1.27 +1.72%
Market cap
$123.3B
P/E
15.8×
Fwd P/E
12.9×
Dividend yield
5.71%
F-score
7/9
Altman Z
4.42
Beneish M
−2.45
Dividend safety
38/100
Overview Business Profile Financial Analysis Income Statement Balance Sheet Cash Flow Metrics & Ratios Filings 10-Q 10-K
Impairment
All filings →

Insider Decisions trades per month

Total buys 0.10
Total sells 2.45
Totals in millions of $.
Dec 25 Mar 26 Jun 26 Sep 26
Buy — — — — — — — — — — 1 —
Sell — — — — 1 — 2 — — — — —
Insider Ownership 0.00%

Capital & Financial Ratios $m

Market Cap 123,290.00
Revenue 23,457.00
Net Income 7,973.00
Free Cash Flow 9,112.00
Net Debt 22,210.00
Current Ratio 0.52 (below 1: weak)
Debt/Equity (9.39) (negative: negative equity)
P/E ratio 15.85
Fwd P/E 12.90
P/S ratio 5.35
P/B ratio 0.00
Past 5Y EPS Growth 11.41%
This Y EPS Growth 4.78%
Next Y EPS Growth 3.52%
Next Y revenue growth (11.67%) (below 0%: weak)
Next 5Y EPS Growth 3.99%

Green and red mark values outside typical ranges. How we judge →

Valuation vs history

EV/Sales, ten years
EV/Sales is 6.3×, against a ten-year median of 4.6×; over the ten years it ranged from 3.6× in 2020 to 6.3× in 2026.
P/E against its own 10 years 62.60%
10-year low 10-year high
P/S against its own 10 years 95.39%
10-year low 10-year high
EV/Sales against its own 10 years 100.00%
10-year low 10-year high
EV/FCF against its own 10 years 64.95%
10-year low 10-year high

Dividends

Payout Ratio 0.91
Annual Dividend Rate 4.29
Annual Dividend Yield 5.71%
total individual payouts
2028 Powerpack
2027 Powerpack
2026 4.32
1.06
1.06
1.11
2025 4.16
1.02
1.02
1.06
1.06
2024 4.00
0.98
0.98
1.02
1.02
2023 3.84
0.94
0.94
0.98
0.98
2022 3.68
0.90
0.90
0.94
0.94
2021 3.52
0.86
0.86
0.90
0.90
2020 3.40
0.84
0.84
0.86
0.86
2019 3.28
0.80
0.80
0.84
0.84
2018 3.00
0.70
0.70
0.80
0.80
2017 2.54
0.61
0.61
0.66
0.66
2016 2.35
0.57
0.57
0.61
0.61
predictions special payouts not included in total or ratios

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 3,686 3,127 4,474 2,367
Receivables 71 177 263 306
Inventory 1,215 1,080 1,070 1,060
Other 117 129 125 289
5,585 4,513 5,932 4,022
2023 2024 2025 Q'26
Payables 582 700 750 684
ST’ Debt 1,121 1,527 1,569 1,684
Other — — — 4,917
11,319 8,781 9,154 7,770

Compound Annual Growth %

10y 5y 3y
Sales (0.88%) (2.30%) (2.47%)
Cash Flow 4.75% 2.07% 4.01%
Earnings 2.85% 9.21% 6.40%
Book Value 0.00% 0.00% 0.00%

Revenue $m

Mar Jun Sep Dec Year
’26 5,428 6,111 — — —
’25 5,259 6,102 6,072 5,846 23,279
’24 5,576 6,209 6,259 5,974 24,018
’23 5,719 6,508 6,281 5,975 24,483
’22 5,892 6,543 6,550 6,111 25,096
’21 6,036 6,936 6,786 6,255 26,013
’20 6,359 6,367 7,123 6,304 26,153
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Mar Jun Sep Dec Year
’26 2,324 719 — — —
’25 2,720 205 3,094 3,271 9,290
’24 2,877 (75) 2,611 3,340 8,753
’23 2,984 124 2,952 3,227 9,287
’22 3,075 (514) 3,076 2,619 8,256
’21 3,040 (361) 3,063 2,663 8,405
’20 3,129 1,817 898 2,541 8,385
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Mar Jun Sep Dec Year
’26 2,231 662 — — —
’25 2,682 173 3,040 3,179 9,074
’24 2,842 (104) 2,580 3,293 8,611
’23 2,929 76 4,612 3,174 10,791
’22 3,030 (552) 3,012 3,561 9,051
’21 3,014 (388) 3,014 2,596 8,236
’20 3,077 1,763 842 2,472 8,154
Fiscal quarters ending in the months shown.

EPS $

Mar Jun Sep Dec Year
’26 1.30 1.37 — — —
’25 0.63 1.41 1.41 0.66 4.12
’24 1.21 2.21 1.34 1.79 6.54
’23 1.00 1.19 1.22 1.16 4.57
’22 1.08 0.49 0.12 1.50 3.19
’21 0.77 1.16 (1.48) 0.88 1.34
’20 0.83 1.04 (0.51) 1.03 2.40
Fiscal quarters ending in the months shown.

Target Price Range

Analyst price targets

Recommendation Rating

2.9
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to December

Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 Trend 2026e 2027e 2028e
Price, $
Price, $ Low 56.15 60.01 46.49 39.30 30.95 40.00 40.35 39.07 39.25 50.08

Analyst estimates 2026–2028

Powerpack
High 70.15 77.79 71.86 57.88 51.78 52.59 57.05 48.11 58.04 68.60
People
People Employees 8,300 8,300 8,300 7,300 7,100 6,000 6,300 6,400 6,200 5,900
Revenue/emp, $m 3.10 3.08 3.06 3.44 3.68 4.34 3.98 3.83 3.87 3.95
Income, $m
Income, $m Revenue 25,744 25,576 25,364 25,110 26,153 26,013 25,096 24,483 24,018 23,279
Gross margin, % 44.95 46.77 48.31 50.62 49.80 53.79 56.77 58.34 59.82 62.47
EBT 21,852 9,828 9,341 766 6,890 3,824 7,389 10,928 13,658 9,389
EBT margin, % 84.88 38.43 36.83 3.05 26.34 14.70 29.44 44.64 56.87 40.33
Net income 14,244 10,227 6,967 (1,298) 4,454 2,475 5,764 8,130 11,264 6,947
Depreciation 204 209 227 226 257 244 226 272 286 1,424
Per share, $
Per share, $ Revenue 13.19 13.31 13.44 13.44 14.08 14.10 13.91 13.78 13.98 13.83
Earnings 7.28 5.31 3.69 (0.70) 2.40 1.34 3.19 4.57 6.54 4.12
Cash flow 1.96 2.55 4.45 4.19 4.51 4.56 4.58 5.23 5.09 5.52
Capex (0.10) (0.10) (0.13) (0.13) (0.12) (0.09) 0.44 0.85 (0.08) (0.13)
Free cash flow 1.86 2.45 4.32 4.06 4.39 4.46 5.02 6.07 5.01 5.39
Book value 6.54 8.01 7.84 3.38 1.57 (0.87) (2.17) (1.96) (1.27) (2.05)
Shares, m 1,952 1,921 1,887 1,869 1,858 1,845 1,804 1,777 1,718 1,683
Valuation, ×
Valuation, × P/E 9.28 13.30 13.38 0.00 17.15 35.63 14.27 9.10 7.98 14.03
P/S 5.13 5.31 3.67 3.71 2.91 3.36 3.27 3.02 3.74 4.17
P/B 10.34 8.84 6.30 14.76 26.04 0.00 0.00 0.00 0.00 0.00
EV/Sales 5.49 5.81 4.64 4.75 3.85 4.26 4.17 3.94 4.65 5.08
EV/FCF 38.86 31.59 14.43 15.70 12.35 13.47 13.01 10.61 12.96 13.03
Cash, $m
Cash, $m Operating cash flow 3,826 4,901 8,391 7,837 8,385 8,405 8,256 9,287 8,753 9,290
Capex (189) (199) (238) (246) (231) (169) 795 1,504 (142) (216)
Free cash flow 3,637 4,702 8,153 7,591 8,154 8,236 9,051 10,791 8,611 9,074
Balance, $m
Balance, $m Working capital (115) (2,448) (16,894) (3,350) (1,946) (2,496) (1,396) (5,734) (4,268) (3,222)
Total debt 13,881 13,894 25,746 28,042 29,471 28,044 26,680 26,233 24,926 25,709
Net debt 9,312 12,641 24,413 25,925 24,526 23,500 22,650 22,547 21,799 21,235
Shareholders’ equity 12,773 15,380 14,789 6,319 2,925 (1,606) (3,923) (3,490) (2,188) (3,452)
Returns, %
Returns, % ROA 36.74 22.90 14.10 (2.48) 9.22 5.67 15.04 21.48 30.47 19.74
ROIC 24.79 21.40 14.53 20.02 24.76 33.00 39.78 37.87 35.82 34.79
ROE 181.71 72.52 46.11 (12.32) 96.47 373.62 (208.03) (218.89) (395.77) (245.64)
Negative figures in brackets.

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026

Charts ten years each

Altria Group, Inc. vs peers in Tobacco (Q) = latest quarter vs a year earlier

Company Market cap P/E Fwd P/E Revenue growth (Q) EPS growth (Q) FCF growth (Q) Gross margin (Q) EBIT margin (Q) Compare
PM Philip Morris International Inc. $311.6B 29.5× 22.6× +10.37% (above 0%: growing) −7.69% (below 0%: shrinking) +67.28% (above 0%: growing) 68.43% 40.48% Compare
BTI British American Tobacco p.l.c. $124.7B 7.6× 12.9× +0.62% (above 0%: growing) +13.60% (above 0%: growing) +12.44% (above 0%: growing) 69.38% 0.00% Compare
MO Altria Group, Inc. $123.3B 15.8× 12.9× +0.15% (above 0%: growing) −2.84% (below 0%: shrinking) +282.66% (above 0%: growing) 62.51% 51.32%
RLX RLX Technology Inc. Sponsored ADR $1.6B 16.0× 17.0× +21.90% (above 0%: growing) +30.00% (above 0%: growing) −129.25% (below 0%: shrinking) 39.03% 14.22% Compare
TPB Turning Point Brands, Inc. $1.2B 26.3× 60.5× +22.57% (above 0%: growing) −77.78% (below 0%: shrinking) +235.11% (above 0%: growing) 65.55% 11.69% Compare
AIIR Air Global PLC $1.2B — (loss-making) — — n/m −487.91% (below 0%: shrinking) 56.58% (46.44%) Compare
UVV Universal Corporation $1.0B 53.4× 12.5× −11.79% (below 0%: shrinking) n/m +38.82% (above 0%: growing) 15.86% 0.44% Compare
ISPR Ispire Technology Inc. $83.2M — (loss-making) — (loss-making) +32.55% (above 0%: growing) n/m −26.12% (below 0%: shrinking) 6.32% (50.72%) Compare
RYM RYTHM, Inc. $40.1M — (loss-making) — (loss-making) +1,027.38% (above 0%: growing) n/m +202.80% (above 0%: growing) 80.52% 8.41% Compare
Median of peers $1.2B 26.3× 17.0× +21.90% +2.96% +25.63% 61.06% 4.43%

All 11 Tobacco stocks →

MO metrics, ten years each

Altria Group, Inc. (MO) key facts

  • Concern: Altria Group, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $23.3 billion, down 3.08% from fiscal 2024.
  • Concern: Net income was $6.9 billion, or $4.12 per share (basic), a net margin of 29.8%.
  • Altria Group, Inc. (MO) is a Tobacco company in the Consumer Defensive sector, listed on the New York Stock Exchange.
  • As of October 16, 2026, MO traded at $75.11, a market capitalization of $123.3 billion.
  • At that price the stock trades at 15.8× trailing-twelve-month earnings and 5.3× sales; its P/E is higher than 63% of its own readings over the past ten years.
  • Altria Group, Inc. pays an annual dividend of $4.29 per share, a yield of 5.71%, with a payout ratio of 90.5%.
  • Return on equity was −245.6% and debt-to-equity -9.39.
  • Its Piotroski F-score is 7 out of 9 and its Altman Z-score is 4.42 (safe zone) for fiscal 2025.

Source: company filings (standardised) and stockrow calculations.

Altria Group, Inc. (MO) Latest News

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stockrow.com/MO · Data as of Jun 30, 2026 · For information only; not investment advice. · © 2026 stockrow.com