Philip Morris International Inc. (PM)
Consumer Staples · Tobacco · US stock · S&P 500 component
$205.20
▲ +5.30 (2.65%)
Fair valueOvervalued
$103 −49.6% to fair value
$52fair band $62–$145$155
Day's range
$201.69 – $205.79
52-week range
$137.25 – $210.45
Red flags⚠ Negative equity
About Philip Morris International Inc.
Philip Morris International sells tobacco and nicotine products outside the United States. Its portfolio includes the Marlboro cigarette brand and smoke-free products such as heated tobacco devices and oral nicotine pouches. The company earns money by selling these products through distributors and retailers in many countries. It is shifting part of its business toward alternatives to cigarettes, while regulation and excise taxes strongly influence the industry.
Looking at the top line, revenue was $42.5 billion for the latest twelve months and it grew by 8.6% a year over three years. Operating margin was 37.7%, and return on invested capital is 37%. Its net debt to EBITDA ratio is 2.4 times. Shareholders receive a dividend with a yield of 2.9%. The overall X-Ray Score is 58 out of 100.
Written with AI from public information and the filing figures on this page, then checked automatically for unsupported numbers. It can contain mistakes: read the company's own filings below before relying on it.
Price chart
52-wk range $137.25 – $210.45Volume 6,197,000Daily, split-adjusted
Vitals
Market cap$320.1B
52-week range$137.25 – $210.45
Volume (last day)6,197,000
P/E (TTM)29.4
EBIT / EV yield4.4%
Free-cash-flow yield4.0%
Dividend yield2.9%
Revenue (TTM)$42.5B
Net income (TTM)$10.9B
Operating margin37.7%
Return on capital37.1%
Debt incl. leases$49.1B
Cash & securities$6.0B
Debt = borrowings plus lease liabilities. Cash & securities = cash, equivalents and short-term marketable securities (long-term securities are not counted, so net cash can be understated for companies like Apple). Net debt = debt minus cash & securities. Source: latest SEC 10-Q/10-K. EBIT / EV yield = operating profit divided by market cap plus net debt.
Fair value estimate
$103model spread $95 – $113
Overvalued
−49.6% to fair value
Equal blend of three models: peer multiples, a fundamentals-adjusted multiple (growth, ROIC and margin) and a 10-year DCF scaled to the market's average. Earnings-power value (no growth) is a floor and not part of the blend. Model uncertainty is High, so the safety margin is 40%.
Multiples use through-the-cycle earnings (0.62x of the last twelve months)
Peak-cycle earnings: the current operating margin is more than 1.5x its 7-year average, so the fair value range is widened
Price $205
Undervalued < $62Fair $62 – $145Overvalued > $145
10-year DCF (market-scaled)
$119
Peer multiples
$105
Earnings power floor (not blended)
$45
Fundamentals-adjusted multiple
$87
Growth the price implies
11.8%/yr
A model estimate, not a price target or recommendation. Inputs: risk-free 5.09%, equity risk premium 4.23% (Damodaran). How it works.
What this means
Average business, priced high
Our models put fair value below today's price, so a lot of good news may already be in the price. A high score does not guarantee a good outcome; it shifts the odds a little. Use the checklist as a prompt for your own research.
Before you invest · decision checklist
Ticked boxes are filled in from our data; the rest are yours to answer.
The five-lens scan
Every score explained in one sentence, ranked against Consumer Staples peers. Open a lens to see the numbers behind it.
Valuation
Weak
24/100
Expensive against its sector on earnings and cash flow.
See the numbers →
EBIT / EV yield4.4%
Free-cash-flow yield4.0%
Fair value vs price0.5×
Growth
Fair
51/100
Growing at a typical pace for its sector.
See the numbers →
Revenue growth (3y)-20.4%
EPS growth (3y)7.7%
Growth consistency90%
Profitability
Fair
64/100
Returns on capital are typical for its sector.
See the numbers →
Return on invested capital37.1%
Operating margin37.7%
Gross profitability42.1%
Financial health
Fair
62/100
Balance sheet is in typical shape for its sector.
See the numbers →
Piotroski F-Score7 / 9
Net debt / EBITDA2.4×
Interest coverNo interest cost
Dividends
Weak
47/100
Dividend is modest or less certain than peers.
See the numbers →
Dividend yield2.9%
Dividends vs free cash flow74%
Dividend growth3.4%
Quarterly results: last 6 quarters
+5.8%
Mar '25
+7.1%
Jun '25
+9.4%
Sep '25
+6.8%
Dec '25
+9.1%
Mar '26
+10.4%
Jun '26
Revenue against the same quarter a year earlier. Latest quarter revenue $11.2B, diluted EPS $1.80.
Fundamentals checklist
● 5 Good · ● 8 Average · ● 3 BadCash quality
Earnings backed by cashAverage
Free-cash-flow yieldBad
Risk models
Altman Z''Average
Piotroski F-ScoreGood
Growth
EPS growth (3y)Average
Free-cash-flow growth (3y)Average
Revenue growth (3y)Bad
Growth consistencyGood
Balance sheet
Current ratioAverage
Net debt / EBITDAAverage
Interest coverGood
Valuation
Fair value vs priceBad
EBIT / EV yieldAverage
Profitability
Return on invested capitalGood
Operating marginGood
Gross profitabilityAverage
Each check is graded against the company's sector, not a fixed number. Checklist score 52/100.
Financials
| FY21 | FY22 | FY23 | FY24 | FY25 | |
|---|---|---|---|---|---|
| Revenue | $82.2B | $80.7B | $35.2B | $37.9B | $40.6B |
| Operating income | $13.0B | $12.2B | $11.6B | $13.4B | $14.9B |
| Net income | $9.1B | $9.0B | $7.8B | $7.1B | $11.3B |
| Operating cash flow | $12.0B | $10.8B | $9.2B | $12.2B | $12.2B |
| Operating margin | 15.8% | 15.2% | 32.9% | 35.4% | 36.6% |
| Free cash flow | $11.2B | $9.7B | $7.9B | $10.8B | $10.7B |
| Diluted EPS | $5.83 | $5.81 | $5.02 | $4.52 | $7.26 |
Fiscal years, from SEC filings.
Technical summary
Daily
Strongly bullish
12 bullish · 1 neutral · 3 bearish
Weekly
Strongly bullish
11 bullish · 1 neutral · 0 bearish
Monthly
Strongly bullish
7 bullish · 0 neutral · 1 bearish
Moving averages (daily)
| SMA 10 | 198.6 | Bullish |
| EMA 10 | 199.3 | Bullish |
| SMA 20 | 193.8 | Bullish |
| EMA 20 | 195.8 | Bullish |
| SMA 50 | 190.0 | Bullish |
| EMA 50 | 191.1 | Bullish |
| SMA 100 | 185.8 | Bullish |
| EMA 100 | 186.1 | Bullish |
| SMA 200 | 177.1 | Bullish |
| EMA 200 | 178.1 | Bullish |
Oscillators (daily)
| RSI (14) | 64.78 | Neutral |
| MACD (12, 26) | 3.96 | Bullish |
| Momentum (12) | 8.46 | Bullish |
| Stochastic %K (14) | 80.07 | Bearish |
| Williams %R (14) | -19.93 | Bearish |
| CCI (20) | 123.2 | Bearish |
Pivot points (classic, last session)
S3 198.6 | S2 200.1 | S1 202.7 | Pivot 204.2 | R1 206.8 | R2 208.3 | R3 210.9 |
Signals describe what the chart is doing, not what to do. Moving averages: price above the average is bullish. Oscillators use the usual thresholds (RSI 30/70, Stochastic 20/80, CCI ±100, Williams %R −80/−20; MACD and momentum above zero are bullish). Weekly and monthly views use closing prices only.
Dividends
Paid, last 12 months
6.01 USD
Yield on today's price
2.93%
Frequency
Quarterly
Next ex-dividend date
Not announced
| Ex-dividend date | Amount per share |
|---|---|
| 2 Oct 2026 | 1.6000 |
| 25 Jun 2026 | 1.4700 |
| 19 Mar 2026 | 1.4700 |
| 26 Dec 2025 | 1.4700 |
| 3 Oct 2025 | 1.4700 |
| 27 Jun 2025 | 1.3500 |
| 20 Mar 2025 | 1.3500 |
| 26 Dec 2024 | 1.3500 |
| 26 Sep 2024 | 1.3500 |
| 21 Jun 2024 | 1.3000 |
| 20 Mar 2024 | 1.3000 |
| 20 Dec 2023 | 1.3000 |
Ex-dividend dates and amounts from EODHD. Shown as declared, before tax.
PM SEC filings
18 Sep 2026
8-KSEC EDGAR
Regulation FD disclosure
8 Sep 2026
8-KSEC EDGAR
Regulation FD disclosure
8 Sep 2026
8-KSEC EDGAR
Regulation FD disclosure
24 Aug 2026
8-KSEC EDGAR
Regulation FD disclosure
24 Jul 2026
10-QSEC EDGAR
Quarterly report
22 Jul 2026
8-KSEC EDGAR
Results of operations
9 Jul 2026
8-KSEC EDGAR
Director or officer change
29 Jun 2026
8-KSEC EDGAR
Other events
Where the numbers come from
Statements SEC EDGAR filings (10-K, 10-Q), quarters derived from year-to-date figures.
Prices end-of-day closes, split-adjusted.
Industry inputs beta, multiples and equity risk premium from Damodaran Online (NYU Stern).
StocksXray is for education only and is not financial advice. Scores and fair values are model estimates from public filings and carry uncertainty.