Philip Morris International Inc. (PM)

NYSE: PM · USD

$203

+0.14 (+0.1%)· Recorded snapshot

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StockMarketAgent Research · Analyzed 2026-09-09

Our latest published analysis: PM rated Strong Buy

Philip Morris International Inc.'s published Strong Buy conclusion compares the analysis-date price with fair value and potential value. Read the full report for assumptions, evidence, and material risks.

Fair value

$249 / share

Potential value

$352 / share

Upside to FV

+34.7%

from $203

Moat

1/10

None

Read full analysis →View archive · 24mo

9-phase methodology · same model in each published edition

Market cap	$284.5B
Revenue (ttm)	43.1B
Net income (ttm)	10.7B
EPS (ttm)	$6.85
Shares out	1.6B
P/E (trailing)	29.6x
P/E (forward)	20.4x
Dividend	$6.40 (3.16%)
Volume	2,235,197
Beta	0.36

Market data

Price

Recent price action with selectable time range.

Financial snapshot

Revenue (ttm): 43.1B
Net income (ttm): 10.7B
EPS (ttm): $6.85
P/E (trailing): 29.6x
P/E (forward): 20.4x
Market cap: $284.5B

Item	P1	P2	P3	P4	P5	Trend
Period	2021-12-31	2022-12-31	2023-12-31	2024-12-31	2025-12-31	Trend
Revenue	$31.41B	$31.76B	$35.17B	$37.88B	$40.65B	+6.7%
Gross profit	$21.38B	$20.36B	$22.28B	$24.55B	$27.28B	+6.3%
Operating income	$12.98B	$12.25B	$11.56B	$13.40B	$14.89B	+3.5%
Net income	$9.11B	$9.05B	$7.81B	$7.06B	$11.35B	+5.6%
EPS (diluted)	$5.83	$5.81	$5.02	$4.52	$7.26	+5.6%
EBITDA	$2.93B	$13.48B	$13.37B	$15.75B	$17.46B	+56.3%
R&D	$617.0M	$642.0M	$709.0M	$759.0M	$756.0M	+5.2%
SG&A	$8.42B	$8.11B	$10.06B	$11.15B	$11.75B	+8.7%

Ticker	Name	Market cap	P/E	P/S	ROIC	5Y rev CAGR	1Y total return	Rating
AAPL	Apple Inc.	5T	39.4x	10.8x	101.6%	+6.1%	+28.5%	売り
ABNB	Airbnb, Inc.	97.8B	37.5x	7.4x	16.8%	+24.4%	+28.5%	売り
ADBE	Adobe Inc.	97.1B	13.9x	3.7x	57.2%	+11.5%	-30.7%	強い買い
ADM	Archer-Daniels-Midland Company	37.3B	21.2x	0.5x	5.0%	+1.8%	+28.5%	縮小
BF.B	Brown-Forman Corporation Class B	12.7B	17.9x	3.3x	14.3%	+1.6%	+0.4%	買い
CAG	Conagra Brands, Inc.	6.6B	—	0.6x	9.2%	+0.2%	-18.9%	強い買い

Base and Bull scenarios

Base60%

Price target

$248.88

+34.7% from spot

The base path requires FY2027 revenue and adjusted EPS near analyst forecasts as of 2026-09-09. Each annual update should test whether Europe revenue growth remains positive and reported profit keeps turning into operating cash. Europe stagnation or weaker cash generation would disconfirm the path.

FY2027 revenue and adjusted EPS remain near their dated estimates.
The base case assumes Europe reports positive growth and FY2025 profit-to-cash conversion persists. These are conditions to test, not conclusions established by regional size alone.

Bull15%

Price target

$351.51

+90.3% from spot

The path gains support if FY2027 revenue and adjusted EPS exceed dated expectations while free cash flow remains strong. Positive Europe growth must also continue; Europe stagnation would disconfirm the path.

The bull case assumes the South and Southeast Asia, Commonwealth of Independent States, Middle East and Africa region grows faster from its $12.05 billion FY2025 revenue base while Europe remains positive. The reported revenue levels do not establish future growth.
Adjusted earnings outgrow revenue without sharply higher capital needs.

Sensitivity: Ke × terminal growth

The highlighted cell is Fair value when every assumption sits at its base level ($248.88). Each row and column shows what Fair value becomes when one assumption moves.

Ke ↓ / g →	2.6%	3.1%	3.6%	4.1%	4.6%
5.6%	$285	$324	$392	$559	$587
6.4%	$244	$265	$296	$346	$447
7.1%	$217	$230	$249	$273	$311
7.8%	$199	$207	$219	$233	$254
8.5%	$185	$191	$199	$208	$221

Scorecard

Published factor rows and weighted composite

Calendar

Next earnings

Upcoming earnings date and setup when available.

Upcoming

DateLoading

Window—

EPS estimate—

Revenue estimate—

Sector percentile context

Refreshed 2026-10-28 19:55 UTC

Forward P/E20.4

P25 n/aP50 n/aP75 n/a

Trailing P/E25.1

P25 n/aP50 n/aP75 n/a

ROEn/a

P25 n/aP50 n/aP75 n/a

ROIC33.6

P25 n/aP50 n/aP75 n/a

Benchmarks · 1M

All PM indicators

Market & fundamental data

Available fields

273

Groups with data

Currency

USD

Showing 273 of 273 available metrics for this ticker.

Profile and market data

Ticker identity, listing, currency, market cap, and source dates.

Metric	Value
Amount currency	USD
CIK code	0001413329
Company name	Philip Morris International Inc.
Country	United States
Country code	US
CUSIP number	718172109
Earnings date	2026-10-21
Earnings time	bmo
Employees	84,900
Employees change	1,800
Employees growth	2.17%
Enterprise value	$357.1B
Exchange	NYSE
Financial currency	USD
Financial report date	2026-09-30
First seen	2026-05-09
Fiscal year end	December
Founded	1987
In index	SP500
Industry	Tobacco
Is primary listing	Yes
Is SPAC	No
ISIN number	US7181721090
Last 10-K release date	2026-02-06
Last earnings date	2026-10-21
Last refreshed	2026-10-28
Last stock split type	Never
Market cap	$316B
Market cap category	Mega-Cap
Next earnings date	2027-02-05
Options	Yes
Price	$202.76
Price currency	USD
Sector	Consumer Staples
SIC code	2111
Stock price date	2026-10-28
Symbol	PM
U.S. state	Connecticut
Website	https://www.pmi.com

Valuation

Multiples, yields, enterprise-value ratios, and valuation checks.

Metric	Value
Adjusted P/E ratio	24.67x
Average P/E ratio (10Y)	20.29x
Average P/E ratio (3Y)	24.68x
Average P/E ratio (5Y)	21.6x
Earnings yield	3.38%
EV/Earnings	33.46x
EV/EBIT	19.78x
EV/EBITDA	17.76x
EV/FCF	26.29x
EV/Sales	8.28x
FCF / EV yield	3.8%
FCF yield	4.3%
Forward EV/Sales	7.92x
Forward P/E	23.16x
Forward P/S	7.01x
Industry forward P/E	16.8x
Industry P/E	21.13x
Lynch fair value	$34.25
Lynch upside	-83.12%
P/E ratio	29.6x
P/FCF ratio	23.27x
P/OCF ratio	20.87x
P/S ratio	7.33x
PEG ratio	2.45x
Price/EBITDA ratio	15.72x
Sector forward P/E	21.3x
Sector P/E	28.26x

Profitability

Margins, returns on capital, cash conversion, and quality metrics.

Metric	Value
EBIT margin	41.87%
EBITDA margin	46.64%
Effective tax rate	22.5%
FCF margin	31.52%
Gross margin	67.7%
Operating margin	41.87%
Pretax margin	33.92%
Profit margin	24.82%
Profit per employee	$125,807
Profitable quarters	7
Profitable years	22
Revenue per employee	$508,104
ROA	16.88%
ROA (5Y)	15.3%
ROCE	43.49%
ROIC	33.63%
ROIC (5Y)	33.09%
Tax / revenue	7.63%

Growth

Revenue, earnings, cash-flow, and forward growth indicators.

Metric	Value
EPS growth	24.05%
EPS growth (Q)	-4.82%
EPS growth (QoQ)	17.77%
EPS growth 10Y	5.06%
EPS growth 3Y	9.98%
EPS growth 5Y	3.6%
EPS growth years	1
FCF growth	34.3%
FCF growth (Q)	21.31%
FCF growth (QoQ)	-2.78%
FCF growth 3Y	21.19%
FCF growth 5Y	5.31%
Gross profit growth	9.05%
Gross profit growth (Q)	6.7%
Gross profit growth 3Y	10.26%
Gross profit growth 5Y	6.87%
Net income growth	24.12%
Net income growth (Q)	-4.74%
Net income growth (QoQ)	17.62%
Net income growth 3Y	10.15%
Net income growth 5Y	3.56%
Net income growth years	1
OCF growth	31.48%
OCF growth (Q)	19.95%
OCF growth (QoQ)	-2.55%
OCF growth 10Y	6.87%
OCF growth 3Y	18.99%
OCF growth 5Y	6.43%
Operating income growth	23.57%
Operating income growth (Q)	8.87%
Operating income growth 3Y	13.78%
Operating income growth 5Y	6.68%
Revenue growth	7.87%
Revenue growth (Q)	5.47%
Revenue growth (QoQ)	2.2%
Revenue growth 10Y	5.15%
Revenue growth 3Y	7.96%
Revenue growth 5Y	7.01%
Revenue growth quarters	16
Revenue growth years	5

Financial statements

Income-statement and cash-flow amounts, totals and per share.

Metric	Value
Capital expenditures	$-1.6B
Depreciation and amortization	$2.1B
EBIT	$18.1B
EBITDA	$20.1B
EPS	$6.85
FCF per share	$8.72
Financing cash flow	$-11.4B
Free cash flow	$13.6B
Gross profit	$29.2B
Income taxes	$3.3B
Investing cash flow	$-912M
Net borrowing	$-2B
Net cash flow	$2.6B
Net income	$10.7B
Operating income	$18.1B
Revenue	$43.1B

Financial strength

Debt, cash, solvency, accounting-quality, and balance-sheet signals.

Metric	Value
Altman Z-Score	4.55
Book value per share	$-5.09
Debt / EBITDA	2.33
Debt / FCF	3.51
Goodwill	$16.8B
Interest coverage	12.19
Long-term assets	$40.9B
Long-term liabilities	$47.5B
Net cash (debt)	$-41B
Net cash / market cap	-12.97%
Net debt / EBITDA	2.04
Net debt / FCF	3.02
Piotroski F-Score	7
Property, plant and equipment	$8.4B
Shareholders' equity	$-5.9B
Tangible book value	$-34.6B
Tangible book value per share	$-22.17
Total assets	$66.7B
Total cash	$6.7B
Total debt	$47.7B
Total liabilities	$72.7B
WACC	5.73%

Liquidity

Current-asset coverage and working-capital efficiency metrics.

Metric	Value
Asset turnover	0.64
Current assets	$25.8B
Current liabilities	$25.2B
Current ratio	1.02
Inventory turnover	1.35
Net working capital	$-244M
Quick ratio	0.52
Working capital	$593M
Working capital turnover	-24.93

Dividends and buybacks

Dividend yield, payout, buybacks, and shareholder-yield indicators.

Metric	Value
Buyback yield / dilution	-0.13%
Dividend growth	8.88%
Dividend growth (10Y)	3.9%
Dividend growth (3Y)	5.56%
Dividend growth (5Y)	4.38%
Dividend growth years	17
Dividend payment date	2026-10-26
Dividend payment years	19
Dividend payout frequency	Quarterly
Dividend per share	$6.40
Dividend yield	3.16%
Ex-dividend date	2026-10-02
FCF payout ratio	73.38%
Last dividend	$1.60
Payout ratio	93.42%
Shareholder yield	3.03%

Performance and technicals

Returns, volatility, beta, momentum, RSI, and moving-average context.

Metric	Value
10Y price change	112.16%
10Y return CAGR	13.25%
10Y total return	246.88%
150-day SMA	$183.13
15Y price change	182.24%
15Y return CAGR	12.32%
15Y total return	471.55%
1D price change	0.07%
1M price change	6.68%
1M total return	7.6%
1W price change	1.66%
1W total return	1.66%
1Y price change	32.64%
1Y return CAGR	37.36%
1Y total return	37.33%
20-day SMA	$198.46
200-day SMA	$181.48
3M price change	3.86%
3M total return	4.75%
3Y price change	132.32%
3Y return CAGR	37.98%
3Y total return	162.74%
50-day SMA	$193.44
50-day SMA vs 200-day SMA	50over200
52-week high	$210.45
52-week high date	2026-10-15
52-week low	$142.11
52-week low date	2025-11-03
5Y price change	114.2%
5Y return CAGR	21.94%
5Y total return	169.57%
6M price change	26.3%
6M total return	28.44%
All-time high	$210.45
All-time high date	2026-10-15
All-time low	$32.04
All-time low date	2009-03-05
Average true range (ATR)	$5.02
Average volume	4.4M
Beta (1Y)	-0.15
Beta (2Y)	-0.02
Beta (5Y)	0.36
Change from 52-week high	-3.66%
Change from 52-week low	42.68%
Change from all-time high	-3.44%
Change from all-time low	534.24%
Change from open	0.38%
Day's gap	-0.32%
Dollar volume	$453.2M
High price	$203.72
Low price	$201.50
Monthly RSI	68.65
Open price	$201.98
Position in 52-week range	56.53%
Premarket change	-0.3%
Premarket close	$202.62
Premarket price	$202.01
Premarket volume	2.7K
Previous close	$202.62
Price vs 150-day SMA	10.96%
Price vs 20-day SMA	2.39%
Price vs 200-day SMA	11.97%
Price vs 50-day SMA	5.05%
Relative volume	0.51
RSI	58.38
Sharpe ratio	1.13
Sharpe ratio (3Y)	1.22
Sharpe ratio (5Y)	0.78
Sortino ratio	1.92
Sortino ratio (3Y)	2.09
Sortino ratio (5Y)	1.38
Volume	2.2M
Weekly RSI	62.02
YTD price change	26.69%
YTD total return	29.99%

Ownership and float

Institutional, insider, float, short-interest, and share-count fields.

Metric	Value
Float	1.6B
Float percentage	99.75%
Shares change (QoQ)	0%
Shares change (YoY)	0.13%
Shares held by insiders	0.14%
Shares held by institutions	84.29%
Shares outstanding	1.6B
Short % of float	1.14%
Short % of shares	1.14%
Short ratio	4 days

Other indicators

Additional ticker metrics that do not fit the primary research groupings.

Metric	Value
Page views	144

Deeper analysis on PM

14 sections in the full report · jump straight to what you need

Forecast

Base and Bull forecast paths with report-date return framing.

→

Valuation

Fair-value bridge, DCF, owner earnings, and peer multiples.

→

Sensitivity

Cost-of-equity and terminal-growth stress table.

→

Risks

Kill scenarios, soft-pass flags, and downside catalysts.

→

Earnings

Next earnings setup and beat / inline / miss thresholds.

→

Position sizing

Entry, exit, conviction, and quarterly monitoring rules.

→

Financials

Revenue, margins, cash flow, and balance-sheet context.

→

Peers

Relative valuation and profitability against the cohort.

→

Moat

Economic-profit evidence and competitive advantage risk.

→

Industry cycle

Sector phase, capital cycle, and secular tailwinds.

→

Scorecard

Quote this valuation with its source: Fair value, Potential value and the price at analysis.

Frequently asked questions

About this PM report

What is the latest published PM stock rating?

Philip Morris International Inc. is shown with Strong Buy in the latest published report, analyzed 2026-09-09. The hub links directly to the full analysis surface where the dated rating, fair-value bridge, risks, and scorecard are documented together.

Where can I read the full PM analysis?

The full latest published report, analyzed 2026-09-09, lives at /stocks/PM/analysis. The bare ticker page summarizes that read and links to each analysis tab; earlier editions remain under /analysis/archive.

What fair value is used for PM?

The latest published report analyzed 2026-09-09 gives PM a fair value of USD 249 and a potential value of USD 352. These are dated research outputs, not live market prices; review the valuation assumptions, sensitivity analysis, and material risks before making a decision.

How often is the PM page updated?

The hub selects the latest published stock report regardless of age and displays its analysis date (2026-09-09). Separately sourced market data is labeled with its own recorded timestamp and is never inferred from the report.

Strong BuyPM · Fair value $249+34.7%

Read full analysis →

Philip Morris International Inc. (PM)

Our latest published analysis: PM rated Strong Buy

Price

Financial snapshot

Fair-value bridge

Latest news · PM

Valuation

Profitability

Balance sheet

Trading

Base and Bull scenarios

Sensitivity: Ke × terminal growth

Scorecard

Next earnings

Sector percentile context

All PM indicators

Profile and market data

Valuation

Profitability

Growth

Financial statements

Financial strength

Liquidity

Dividends and buybacks

Performance and technicals

Ownership and float

Other indicators

Deeper analysis on PM

Frequently asked questions

レーティング履歴

Category	Score	Reading
Valuation	8.5
Management	6.5
Balance Sheet	3.0
Profitability	6.5
Revenue Growth	6.0
Risk Assessment	5.5
Competitive Moat	1.0
Earnings Quality	6.0
Capital Efficiency	7.5