Altria Group, Inc. (MO)

NYSE: MO · USD

$72.8

-0.73 (-1.0%)· Recorded snapshot

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StockMarketAgent Research · Analyzed 2026-10-18

Our latest published analysis: MO rated Reduce

Altria Group, Inc.'s published Reduce conclusion compares the analysis-date price with fair value and potential value. Read the full report for assumptions, evidence, and material risks.

Fair value

$61.6 / share

Potential value

$84.6 / share

Upside to FV

-18.0%

from $72.8

Moat

7.5/10

Narrow

Read full analysis →View archive · 24mo

9-phase methodology · same model in each published edition

Market cap	$125.4B
Revenue (ttm)	20.4B
Net income (ttm)	8B
EPS (ttm)	$4.75
Shares out	1.7B
P/E (trailing)	15.3x
P/E (forward)	11.9x
Dividend	$4.44 (6.09%)
Volume	4,522,438
Beta	0.46

Market data

Price

Recent price action with selectable time range.

Financial snapshot

Revenue (ttm): 20.4B
Net income (ttm): 8B
EPS (ttm): $4.75
P/E (trailing): 15.3x
P/E (forward): 11.9x
Market cap: $125.4B

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	$26.01B	$25.10B	$24.48B	$24.02B	$23.28B	-2.7%
Gross profit	$13.99B	$14.25B	$14.28B	$14.37B	$14.54B	+1.0%
Operating income	$11.56B	$11.92B	$11.55B	$11.24B	$9.90B	-3.8%
Net income	$2.48B	$5.76B	$8.13B	$11.26B	$6.95B	+29.4%
EPS (diluted)	$1.34	$3.19	$4.57	$6.54	$4.12	+32.4%
EBITDA	$5.26B	$8.74B	$12.32B	$15.07B	$10.83B	+19.8%
R&D	$145.0M	$162.0M	$220.0M	$208.0M	$195.0M	+7.7%
SG&A	$2.43B	$2.33B	$2.77B	$214.0M	$2.26B	-1.8%

Ticker	Name	Market cap	P/E	P/S	ROIC	5Y rev CAGR	1Y total return	Rating
BA	The Boeing Company	132.2B	18.0x	1.4x	-0.8%	+8.6%	-25.2%	매도
BMY	Bristol-Myers Squibb Company	123.6B	13.3x	2.5x	21.7%	+2.1%	+45.8%	매도
CHTR	Charter Communications, Inc.	17.2B	2.7x	0.3x	8.5%	+1.7%	-57.3%	적극 매수
ADM	Archer-Daniels-Midland Company	37.3B	21.2x	0.5x	5.0%	+1.8%	+28.5%	비중 축소
BF.B	Brown-Forman Corporation Class B	12.7B	17.9x	3.3x	14.3%	+1.6%	+0.4%	매수
CAG	Conagra Brands, Inc.	6.6B	—	0.6x	9.2%	+0.2%	-18.9%	적극 매수

Base and Bull scenarios

Base55%

Price target

$61.61

-18.0% from spot

The Base scenario reflects the modal operating path: combustible volume secular decline is successfully mitigated by disciplined, continuous price realization. Marlboro maintains premium dominance while discount brands like Basic capture trade-down smokers. Smoke-free progress is modest, with on! growing absolute volume but losing pouch category share to dominant competitors, and NJOY remaining sidelined. Operating cash flow remains robust around $9.0B-$9.5B, enabling steady dividend payments ($4.44 per share) and modest share buybacks. However, with market price ($75.11) exceeding mid fair value ($61.61), investor returns are constrained.

Underlying domestic cigarette volume declines persist at -4.0% to -4.5% annually
Marlboro price increases of 5.5% to 6.5% offset volume declines, stabilizing Smokeable OCI near $10.5B to $11.0B
Consolidated operating margin stabilizes between 42.6% and 43.2%
on! pouch category share holds near 14% to 15% while MST volumes contract ~10% annually
CapEx remains low at $300M to $450M annually
Cost of capital moderate Ke remains at 7.46% and WACC at 6.97%

Bull20%

Price target

$84.57

+12.6% from spot

In the Bull scenario, adult consumer discretionary income recovers, curtailing discount trade-down. Regulatory enforcement against illicit disposable vapes redirects nicotine volume back into Marlboro and authorized oral nicotine pouches. Helix's national rollout of on! PLUS across 120,000 stores scales rapidly, turning the smoke-free segment into an accretive profit driver. Altria's FCF generation comfortably supports annual dividend increases and >$1B in annual share repurchases, justifying valuation near the top of the fair value range ($84.57).

Combustible cigarette volume declines moderate significantly from historical contraction rates.
Marlboro maintains dominant premium category share while sustaining strong annual pricing realization.
Modern oral products on! and on! PLUS capture expanding share of the nicotine pouch market.
FDA PMTA enforcement successfully eliminates illicit disposable vapes from retail shelves
Consolidated operating margin expands through smokeable pricing realization and supply chain efficiency.

Sensitivity: Ke × terminal growth

The highlighted cell is Fair value when every assumption sits at its base level ($61.61). Each row and column shows what Fair value becomes when one assumption moves.

Ke ↓ / g →	1.0%	1.3%	1.5%	1.8%	2.0%
6.5%	$66.7	$68.5	$70.4	$72.7	$75.2
7.0%	$62.6	$64.0	$65.6	$67.3	$69.3
7.5%	$59.2	$60.4	$61.6	$63.0	$64.5
8.0%	$56.2	$57.2	$58.3	$59.4	$60.6
8.5%	$53.7	$54.5	$55.4	$56.3	$57.3

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/E11.9

P25 n/aP50 n/aP75 n/a

Trailing P/E15.8

P25 n/aP50 n/aP75 n/a

ROEn/a

P25 n/aP50 n/aP75 n/a

ROIC37.2

P25 n/aP50 n/aP75 n/a

Benchmarks · 1M

All MO indicators

Market & fundamental data

Available fields

277

Groups with data

Currency

USD

Showing 277 of 277 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	0000764180
Company name	Altria Group, Inc.
Country	United States
Country code	US
CUSIP number	02209S103
Earnings date	2026-10-29
Earnings time	bmo
Employees	5,900
Employees change	-300
Employees growth	-4.84%
Enterprise value	$143.7B
Exchange	NYSE
Financial currency	USD
Financial report date	2026-06-30
First seen	2026-05-09
Fiscal year end	December
Founded	1822
In index	SP500
Industry	Tobacco
Is primary listing	Yes
Is SPAC	No
ISIN number	US02209S1033
Last 10-K release date	2026-02-25
Last earnings date	2026-07-30
Last refreshed	2026-10-28
Last stock split date	1997-04-11
Last stock split type	Forward
Market cap	$121.5B
Market cap category	Large-Cap
Next earnings date	2026-10-29
Options	Yes
Price	$72.76
Price currency	USD
Sector	Consumer Staples
SIC code	2111
Stock price date	2026-10-28
Symbol	MO
U.S. state	Virginia
Website	https://www.altria.com

Valuation

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

Metric	Value
Adjusted P/E ratio	13.11x
Average P/E ratio (10Y)	18.24x
Average P/E ratio (3Y)	10.59x
Average P/E ratio (5Y)	16.19x
Earnings yield	6.52%
EV/Earnings	18.16x
EV/EBIT	11.52x
EV/EBITDA	11.31x
EV/FCF	15.85x
EV/Sales	7.06x
FCF / EV yield	6.31%
FCF yield	7.46%
Forward EV/Sales	7.05x
Forward P/E	12.65x
Forward P/S	5.97x
Industry forward P/E	16.81x
Industry P/E	21.15x
Lynch fair value	$56.39
Lynch upside	-22.96%
P/E ratio	15.33x
P/FCF ratio	13.41x
P/OCF ratio	12.99x
P/S ratio	5.98x
PEG ratio	3.24x
Price/EBITDA ratio	9.57x
Sector forward P/E	21.33x
Sector P/E	28.29x

Profitability

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

Metric	Value
EBIT margin	61.31%
EBITDA margin	62.46%
Effective tax rate	23.16%
FCF margin	44.57%
Gross margin	72.36%
Operating margin	61.31%
Pretax margin	50.75%
Profit margin	39%
Profit per employee	$1.3M
Profitable quarters	19
Profitable years	6
Revenue per employee	$3.5M
ROA	23.84%
ROA (5Y)	21.16%
ROCE	48.95%
ROIC	37.2%
ROIC (5Y)	34.6%
Tax / revenue	11.75%

Growth

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

Metric	Value
EPS growth	-8.2%
EPS growth (Q)	-2.7%
EPS growth (QoQ)	5.38%
EPS growth 10Y	5.12%
EPS growth 3Y	7.68%
EPS growth 5Y	14.19%
EPS growth years	0
FCF growth	4.4%
FCF growth (Q)	282.66%
FCF growth (QoQ)	-70.33%
FCF growth 3Y	2.03%
FCF growth 5Y	8.93%
Gross profit growth	1.8%
Gross profit growth (Q)	0.57%
Gross profit growth 3Y	1.16%
Gross profit growth 5Y	1.32%
Net income growth	-9.26%
Net income growth (Q)	-3.36%
Net income growth (QoQ)	5.23%
Net income growth 3Y	5.33%
Net income growth 5Y	11.88%
Net income growth years	0
OCF growth	5.99%
OCF growth (Q)	250.73%
OCF growth (QoQ)	-69.06%
OCF growth 10Y	5.23%
OCF growth 3Y	2.24%
OCF growth 5Y	8.99%
Operating income growth	2.86%
Operating income growth (Q)	0.98%
Operating income growth 3Y	0.53%
Operating income growth 5Y	0.97%
Revenue growth	0.91%
Revenue growth (Q)	1.25%
Revenue growth (QoQ)	12.57%
Revenue growth 10Y	0.67%
Revenue growth 3Y	-0.41%
Revenue growth 5Y	-0.75%
Revenue growth quarters	2
Revenue growth years	0

Financial statements

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

Metric	Value
Capital expenditures	$-296M
Depreciation and amortization	$236M
EBIT	$12.5B
EBITDA	$12.8B
EPS	$4.75
FCF per share	$5.46
Financing cash flow	$-7.9B
Free cash flow	$9.1B
Gross profit	$14.8B
Income taxes	$2.4B
Investing cash flow	$-428M
Net borrowing	$-74M
Net cash flow	$1.1B
Net income	$8B
Operating income	$12.5B
Revenue	$20.4B

Financial strength

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

Metric	Value
Altman Z-Score	5.04
Book value per share	$-1.60
Debt / EBITDA	1.92
Debt / FCF	2.7
Goodwill	$5.8B
Interest coverage	10.71
Long-term assets	$29.4B
Long-term liabilities	$28.2B
Net cash (debt)	$-22.2B
Net cash / market cap	-18.17%
Net debt / EBITDA	1.74
Net debt / FCF	2.44
Piotroski F-Score	8
Property, plant and equipment	$1.8B
Shareholders' equity	$-2.6B
Tangible book value	$-20.3B
Tangible book value per share	$-12.16
Total assets	$33.4B
Total cash	$2.4B
Total debt	$24.6B
Total liabilities	$36B
WACC	6.26%

Liquidity

Current-asset coverage and working-capital efficiency metrics.

Metric	Value
Asset turnover	0.62
Current assets	$4B
Current liabilities	$7.8B
Current ratio	0.52
Inventory turnover	5.44
Net working capital	$-4.4B
Quick ratio	0.34
Working capital	$-3.7B
Working capital turnover	-5.17

Dividends and buybacks

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

Metric	Value
Buyback yield / dilution	1%
Dividend growth	4.13%
Dividend growth (10Y)	6.41%
Dividend growth (3Y)	4.13%
Dividend growth (5Y)	4.27%
Dividend growth years	57
Dividend payment date	2026-10-09
Dividend payment years	57
Dividend payout frequency	Quarterly
Dividend per share	$4.44
Dividend yield	6.09%
Ex-dividend date	2026-09-15
FCF payout ratio	81.36%
Last dividend	$1.11
Payout ratio	93.55%
Shareholder yield	7.06%

Performance and technicals

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

Metric	Value
10Y price change	12.93%
10Y return CAGR	8.43%
10Y total return	124.68%
150-day SMA	$69.85
15Y price change	163.05%
15Y return CAGR	13.41%
15Y total return	560.22%
1D price change	-0.99%
1M price change	5.73%
1M total return	5.73%
1W price change	-1.45%
1W total return	-1.45%
1Y price change	14.15%
1Y return CAGR	21.89%
1Y total return	21.87%
20-day SMA	$72.07
200-day SMA	$68.71
20Y price change	-11.11%
20Y return CAGR	13.67%
20Y total return	1,196.01%
3M price change	-0.18%
3M total return	1.42%
3Y price change	85.14%
3Y return CAGR	32.23%
3Y total return	131.23%
50-day SMA	$70.02
50-day SMA vs 200-day SMA	50over200
52-week high	$77.06
52-week high date	2026-07-28
52-week low	$54.70
52-week low date	2026-01-07
5Y price change	53.18%
5Y return CAGR	17.6%
5Y total return	124.92%
6M price change	10.24%
6M total return	13.68%
All-time high	$90.50
All-time high date	2007-01-11
All-time low	$0.23
All-time low date	1968-01-02
Average true range (ATR)	$1.43
Average volume	7.1M
Beta (1Y)	-0.65
Beta (2Y)	-0.2
Beta (5Y)	0.46
Change from 52-week high	-5.58%
Change from 52-week low	33.02%
Change from all-time high	-19.6%
Change from all-time low	31,114.07%
Change from open	-0.33%
Day's gap	-0.67%
Dollar volume	$329.1M
High price	$73.70
Low price	$72.75
Monthly RSI	62.55
Open price	$73.00
Position in 52-week range	1.05%
Premarket change	-0.53%
Premarket close	$73.49
Premarket price	$73.10
Premarket volume	113.2K
Previous close	$73.49
Price vs 150-day SMA	4.17%
Price vs 20-day SMA	0.96%
Price vs 200-day SMA	5.89%
Price vs 50-day SMA	3.92%
Relative volume	0.65
RSI	53.78
Sharpe ratio	0.74
Sharpe ratio (3Y)	1.11
Sharpe ratio (5Y)	0.66
Sortino ratio	1.22
Sortino ratio (3Y)	1.84
Sortino ratio (5Y)	1.15
Volume	4.5M
Weekly RSI	56.21
YTD price change	26.19%
YTD total return	32.3%

Ownership and float

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

Metric	Value
Float	1.7B
Float percentage	99.8%
Shares change (QoQ)	-0.18%
Shares change (YoY)	-1%
Shares held by insiders	0.08%
Shares held by institutions	64.93%
Shares outstanding	1.7B
Short % of float	2.26%
Short % of shares	2.25%
Short ratio	4.6 days

Other indicators

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

Metric	Value
Page views	314

Deeper analysis on MO

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 MO report

What is the latest published MO stock rating?

Altria Group, Inc. is shown with Reduce in the latest published report, analyzed 2026-10-18. 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 MO analysis?

The full latest published report, analyzed 2026-10-18, lives at /stocks/MO/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 MO?

The latest published report analyzed 2026-10-18 gives MO a fair value of USD 62 and a potential value of USD 85. 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 MO page updated?

The hub selects the latest published stock report regardless of age and displays its analysis date (2026-10-18). Separately sourced market data is labeled with its own recorded timestamp and is never inferred from the report.

ReduceMO · Fair value $61.6-18.0%

Read full analysis →

Altria Group, Inc. (MO)

Our latest published analysis: MO rated Reduce

Price

Financial snapshot

Fair-value bridge

Latest news · MO

Valuation

Profitability

Balance sheet

Trading

Base and Bull scenarios

Sensitivity: Ke × terminal growth

Scorecard

Next earnings

Sector percentile context

All MO 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 MO

Frequently asked questions

등급 이력

Category	Score	Reading
Valuation	3.0
Management	6.5
Balance Sheet	3.0
Profitability	6.5
Revenue Growth	4.5
Risk Assessment	5.5
Competitive Moat	7.5
Earnings Quality	7.5
Capital Efficiency	8.5