Philip Morris International Inc.

PM Consumer Defensive Tobacco

Philip Morris International Inc.’s revenue for fiscal 2025 (year ended December 2025) was $40.6 billion, up 7.31% from fiscal 2024.

Revenue
+5.47%
EPS
−4.93%
Free cash flow
+21.3%
Total debt
−5.03%

Quarter to September 2026, against a year earlier

198.10 3.40 −1.69%
Market cap
$314.1B
P/E
29.5×
Fwd P/E
28.3×
Dividend yield
2.98%
F-score
7/9
Altman Z
3.94
Beneish M
−2.33
Dividend safety
47/100

Philip Morris International Inc. (PM) Free cash flow margin

Alert me on Free cash flow margin

Philip Morris International Inc.'s free cash flow margin over the twelve months to 30 September 2026 was 31.5%, up 5.3 percentage points from fiscal 2025 (26.2%). Over the past ten years it has ranged from 9.34% (fiscal 2015) to 35.7% (fiscal 2021); the current reading is higher than 45% of that period. That is above the Tobacco industry median of 1.31% and above the Consumer Defensive sector median of 1.51%.

Free cash flow margin, annual

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Annual newest first

Period Free cash flow margin Change (points)
FY2025 26.2% (2.21)
FY2024 28.4% 6.03
FY2023 22.4% (8.21)
FY2022 30.6% (5.10)
FY2021 35.7% 3.62
FY2020 32.1% 1.11
FY2019 31.0% 3.84
FY2018 27.2% 1.53
FY2017 25.6% (0.26)
FY2016 25.9% 16.54

Against its own ten years

Low 9.34% High 35.7%
Ten-year median 27.2%
Current reading's percentile 45

Free cash flow margin against peers

Company Free cash flow margin
MO Altria Group, Inc. compare 38.6%
PM Philip Morris International Inc. 31.5%
RYM RYTHM, Inc. compare 18.4%
RLX RLX Technology Inc. Sponsored ADR compare 11.8%
TPB Turning Point Brands, Inc. compare 3.87%
UVV Universal Corporation compare 1.31%
AIIR Air Global PLC compare 0.00%
BTI British American Tobacco p.l.c. compare 0.00%
ISPR Ispire Technology Inc. compare −1.38%
Tobacco industry median 1.31%
Consumer Defensive sector median 1.51%
Market median 0.00%

What Free cash flow margin is

Free Cash Flow Margin tells an investor how much of each sale turns into cash the company keeps after paying for investment in its assets.

(Operating Cash Flow + Property, Plant, Equipment Change (Net) + Intangible Assets Change (Net)) ÷ Revenue

The full definition of Free cash flow margin →

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