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Saturday 17 October 2026 Export PM’s income statement to Excel — free account

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. In the quarter to June 2026, revenue grew 10.4%, EPS fell 7.69%, free cash flow grew 67.3% and total debt fell 4.56%, each against the same quarter a year earlier. Member of the S&P 500; dividend growth for ten consecutive years, revenue growth for five.

205.20 5.30 +2.65%
Market cap
$311.6B
P/E
29.5×
Fwd P/E
22.6×
Dividend yield
2.93%
F-score
7/9
Altman Z
3.94
Beneish M
−2.33
Dividend safety
47/100
Overview Business Profile Financial Analysis Income Statement Balance Sheet Cash Flow Metrics & Ratios Filings 10-Q 10-K

Philip Morris International Inc. (PM) Operating margin

Alert me on Operating margin

Philip Morris International Inc.'s operating margin over the twelve months to 30 June 2026 was 37.8%, up 1.1 percentage points from fiscal 2025 (36.6%). Over the past ten years it has ranged from 14.4% (fiscal 2015) to 41.3% (fiscal 2021); the current reading is higher than 45% of that period. That is above the Tobacco industry median of 0.00% and above the Consumer Defensive sector median of 1.55%.

Operating margin, annual

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Annual newest first

Period Operating margin Change (points)
FY2025 36.6% 1.26
FY2024 35.4% 2.53
FY2023 32.9% (5.71)
FY2022 38.6% (2.76)
FY2021 41.3% 0.66
FY2020 40.7% 5.33
FY2019 35.3% (3.07)
FY2018 38.4% (1.88)
FY2017 40.3% (0.58)
FY2016 40.9% 26.49

Quarterly newest first

Period Operating margin Change (points)
Jun 2026 40.5% 2.11
Mar 2026 38.4% 5.82
Dec 2025 32.6% (6.76)
Sep 2025 39.3% 2.70
42 more quarters

Against its own ten years

Low 14.4% High 41.3%
Ten-year median 38.4%
Current reading's percentile 57

Operating margin against peers

Company Operating margin
MO Altria Group, Inc. compare 46.8%
PM Philip Morris International Inc. 37.8%
TPB Turning Point Brands, Inc. compare 14.8%
RLX RLX Technology Inc. Sponsored ADR compare 13.0%
UVV Universal Corporation compare 4.80%
AIIR Air Global PLC compare 0.00%
BTI British American Tobacco p.l.c. compare 0.00%
ISPR Ispire Technology Inc. compare −34.0%
RYM RYTHM, Inc. compare −46.9%
Tobacco industry median 0.00%
Consumer Defensive sector median 1.55%
Market median 0.00%

What Operating margin is

EBIT Margin tells an investor how much operating profit, before interest and taxes, a company keeps from each unit of revenue.

EBIT ÷ Revenue

The full definition of Operating margin →

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