PM (Philip Morris International Inc.) Stock Financials & Earnings

Company Info & Key Metrics

Philip Morris International Inc. operates as a tobacco company working to delivers a smoke-free future and evolving portfolio for the long-term to include products outside of the tobacco and nicotine ...

CEOJacek Olczak

Country🇺🇸 United States

ExchangeNYSE

IPOMar 17, 2008

www.pmi.com

Revenue$10.4B

YoY Growth+6.8%

QoQ Growth-4.5%

Net Income$2.3B

EPS$1.61

Free Cash Flow$4.3B

Gross Margin65.4%

Op. Margin33.0%

Net Margin22.3%

FCF Margin41.2%

Rev Multiple (TTM)6.6x

P/E Ratio (TTM)23.4x

Revenue & Profitability

Quarter	Revenue	Gross Profit	Op. Income
Q1 23	$8.0B	$5.0B	$2.7B
Q2 23	$9.0B	$5.7B	$2.6B
Q3 23	$9.1B	$6.0B	$3.4B
Q4 23	$9.0B	$5.6B	$2.9B
Q1 24	$8.8B	$5.6B	$3.0B
Q2 24	$9.5B	$6.1B	$3.4B
Q3 24	$9.9B	$6.5B	$3.7B
Q4 24	$9.7B	$6.3B	$3.3B
Q1 25	$9.2B	$6.0B	$3.8B
Q2 25	$10.1B	$6.9B	$3.8B
Q3 25	$10.8B	$7.4B	$4.3B
Q4 25	$10.4B	$6.8B	$3.4B

Revenue Breakdown

Valuation

Quarter	P/S	P/E
Q1 23	8.4x	31.0x
Q2 23	8.1x	33.5x
Q3 23	7.9x	33.7x
Q4 23	7.7x	34.5x
Q1 24	7.5x	33.9x
Q2 24	7.4x	30.6x
Q3 24	7.2x	27.4x
Q4 24	7.1x	38.2x
Q1 25	7.0x	35.5x
Q2 25	6.9x	32.8x
Q3 25	6.8x	31.3x
Q4 25	6.6x	23.4x

Operating Cash Flow

Quarter	Operating CF	Free CF
Q1 23	-$955M	-$1.2B
Q2 23	$3.4B	$3.1B
Q3 23	$3.4B	$3.0B
Q4 23	$3.3B	$3.0B
Q1 24	$241M	-$176M
Q2 24	$4.6B	$4.3B
Q3 24	$3.3B	$3.0B
Q4 24	$4.0B	$3.7B
Q1 25	-$350M	-$754M
Q2 25	$3.4B	$3.1B
Q3 25	$4.5B	$4.1B
Q4 25	$4.7B	$4.3B

Capital Expenditures

CapEx

Quarter	CapEx
Q1 23	$279M
Q2 23	$360M
Q3 23	$371M
Q4 23	$311M
Q1 24	$417M
Q2 24	$370M
Q3 24	$379M
Q4 24	$278M
Q1 25	$404M
Q2 25	$356M
Q3 25	$365M
Q4 25	$444M

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q1 23	+3.5%	+18.9%
Q2 23	+14.5%	+34.0%
Q3 23	+13.8%	+14.0%
Q4 23	+11.0%	+17.8%
Q1 24	+9.7%	+8.7%
Q2 24	+5.6%	-5.9%
Q3 24	+8.4%	+8.4%
Q4 24	+7.3%	+4.7%
Q1 25	+5.2%	-4.8%
Q2 25	+7.1%	+6.0%
Q3 25	+9.4%	+5.2%
Q4 25	+6.8%	+7.6%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q1 23	$77M	1.0%
Q2 23	$54M	0.6%
Q3 23	$0	0.0%
Q4 23	$37M	0.4%
Q1 24	$0	0.0%
Q2 24	$0	0.0%
Q3 24	$0	0.0%
Q4 24	$0	0.0%
Q1 25	$0	0.0%
Q2 25	$0	0.0%
Q3 25	$0	0.0%
Q4 25	$0	0.0%

OpEx Breakdown

Quarter	G&A	S&M
Q1 23	$2.3B	—
Q2 23	$3.2B	—
Q3 23	$2.6B	—
Q4 23	$2.0B	—
Q1 24	$2.6B	$201M
Q2 24	$2.7B	—
Q3 24	$2.9B	—
Q4 24	$3.0B	—
Q1 25	$2.2B	—
Q2 25	$3.1B	—
Q3 25	$3.1B	—
Q4 25	$3.4B	—

Revenue Segments

Quarter	Combustible Products	Reduced-Risk Products
Q1 23	$5.2B	$2.8B
Q2 23	$5.8B	$3.2B
Q3 23	$5.8B	$3.3B
Q4 23	$5.5B	$3.6B
Q1 24	$5.4B	$3.4B
Q2 24	$5.9B	$3.6B
Q3 24	$6.1B	$3.8B
Q4 24	$5.8B	$3.9B
Q1 25	$5.4B	$3.9B
Q2 25	$6.0B	$4.2B
Q3 25	$6.4B	$4.4B
Q4 25	$6.0B	$4.4B

Revenue by Geography

Quarter	Americas Segment	East Asia And Australia	European Union	SSEA, CIS & MEA Segment	Swedish Match AB Segment	Wellness and Healthcare Segment	EA, AU & PMI GTR Segment
Q1 23	$445M	$1.5B	$2.9B	$2.5B	$581M	$86M	—
Q2 23	$476M	$1.7B	$3.4B	$2.7B	$665M	$76M	—
Q3 23	$478M	$1.6B	$3.7B	$2.8B	$568M	$75M	—
Q4 23	$545M	$1.4B	$3.6B	$2.7B	$682M	$69M	—
Q1 24	$996M	$1.7B	$3.4B	$2.7B	—	—	—
Q2 24	$1.1B	$1.7B	$3.8B	$2.8B	—	—	—
Q3 24	$1.1B	$1.6B	$4.1B	$3.0B	—	—	—
Q4 24	$1.3B	$1.4B	$4.1B	$2.9B	—	—	—
Q1 25	$1.3B	$1.7B	$3.6B	$2.7B	—	—	—
Q2 25	$1.3B	$1.7B	$4.2B	$2.9B	—	—	—
Q3 25	$1.1B	—	$4.7B	$3.3B	—	—	$1.8B

War Chest

Quarter	Cash	Short-term Investments	Total
Q1 23	$2.4B	$0	$2.4B
Q2 23	$3.5B	$0	$3.5B
Q3 23	$3.0B	$0	$3.0B
Q4 23	$3.1B	$0	$3.1B
Q1 24	$4.1B	$0	$4.1B
Q2 24	$4.9B	$0	$4.9B
Q3 24	$4.3B	$0	$4.3B
Q4 24	$4.2B	$0	$4.2B
Q1 25	$4.4B	$0	$4.4B
Q2 25	$4.1B	$0	$4.1B
Q3 25	$4.0B	$0	$4.0B
Q4 25	$4.9B	$0	$4.9B

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change
Q1 23	1.55B	+0.1%
Q2 23	1.55B	+0.0%
Q3 23	1.55B	+0.1%
Q4 23	1.55B	+0.0%
Q1 24	1.55B	+0.1%
Q2 24	1.56B	+0.1%
Q3 24	1.56B	+0.0%
Q4 24	1.56B	+0.0%
Q1 25	1.56B	+0.0%
Q2 25	1.56B	+0.1%
Q3 25	1.56B	+0.0%
Q4 25	1.50B	-3.4%

Revenue Per Employee

Revenue / Employee

Year	Revenue/Employee	Employees
FY 14	$361K	83K
FY 15	$334K	80K
FY 16	$336K	80K
FY 17	$357K	81K
FY 18	$383K	77K
FY 19	$406K	74K
FY 20	$404K	71K
FY 21	$451K	70K
FY 22	$398K	80K
FY 23	$425K	83K
FY 24	$456K	83K
FY 25	$478K	85K