Financials · MO

Altria Group Inc. (MO) financials

For the twelve months ended Sep 30, 2026, Altria Group Inc. reported $23.52B of revenue and $8.12B of net income.

Revenue, TTM
$23.52B
Revenue growth, YoY
+0.5%
Net income, TTM
$8.12B
Net income growth, YoY
-8.5%
Net margin
34.5%
Free cash flow, TTM
$9.07B
EPS, diluted, TTM
$4.85
EPS growth, YoY
-7.3%
Cash
$2.70B
Total debt
$24.06B
P/E
15.60
P/S
5.38
Market cap
$126.62B
Annual revenue$23.28B
FY2016FY2025
Annual net income$6.95B
FY2016FY2025
Annual free cash flow$9.07B
FY2016FY2025

MO revenue and earnings growth

MO revenueQ3 2026$6.13B

Quarter YoY
+1.0%
QoQ
+0.3%
FY YoY
-3.1%
5Y CAGR
-2.3%
10Y CAGR
-0.9%

MO revenue was $6.13B in fiscal Q3 2026 (ended Sep 30, 2026), up 1.0% from a year earlier and up 0.3% from the prior quarter. For the full fiscal 2025 it was $23.28B, down 3.1% from fiscal 2024. Compound annual growth was -2.3% over 5 years and -0.9% over 10 years. It rose in 2 of the last 10 fiscal years.

MO net incomeQ3 2026$2.52B

Quarter YoY
+6.0%
QoQ
+9.6%
FY YoY
-38.3%
5Y CAGR
+9.2%
10Y CAGR
+2.9%

MO net income was $2.52B in fiscal Q3 2026 (ended Sep 30, 2026), up 6.0% from a year earlier and up 9.6% from the prior quarter. For the full fiscal 2025 it was $6.95B, down 38.3% from fiscal 2024. Compound annual growth was +9.2% over 5 years and +2.9% over 10 years. It rose in 3 of the last 5 fiscal years.

MO EPSQ3 2026$1.51

Quarter YoY
+7.1%
QoQ
+10.2%
FY YoY
-37.0%
5Y CAGR
+11.4%
10Y CAGR
+4.4%

MO diluted EPS was $1.51 in fiscal Q3 2026 (ended Sep 30, 2026), up 7.1% from a year earlier and up 10.2% from the prior quarter. For the full fiscal 2025 it was $4.12, down 37.0% from fiscal 2024. Compound annual growth was +11.4% over 5 years and +4.4% over 10 years.

MO free cash flowQ3 2026$3.00B

Quarter YoY
-1.3%
QoQ
+353.0%
FY YoY
+5.4%
5Y CAGR
+2.2%
10Y CAGR
+4.9%

MO free cash flow was $3.00B in fiscal Q3 2026 (ended Sep 30, 2026), down 1.3% from a year earlier and up 353.0% from the prior quarter. For the full fiscal 2025 it was $9.07B, up 5.4% from fiscal 2024. Compound annual growth was +2.2% over 5 years and +4.9% over 10 years. It rose in 6 of the last 10 fiscal years.

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Income statement

Income statement
Line item
Dec 31, 2025
Dec 31, 2024
Dec 31, 2023
Dec 31, 2022
Dec 31, 2021
Dec 31, 2020
Dec 31, 2019
Dec 31, 2018
Dec 31, 2017
Dec 31, 2016
Revenue$23.28B$24.02B$24.48B$25.10B$26.01B$26.15B$25.11B$25.36B$25.58B$25.74B
Cost of revenue$5.60B$6.08B$6.22B$6.44B$7.12B$7.82B$7.08B$7.37B$7.53B$7.76B
Gross profit$14.54B$14.37B$14.28B$14.25B$13.99B$13.02B$12.71B$12.25B$11.96B$11.57B
Research and development$195.00M$208.00M$220.00M$162.00M$145.00M$131.00M$168.00M$252.00M$241.00M$203.00M
Operating income$9.90B$11.24B$11.55B$11.92B$11.56B$10.87B$10.33B$9.12B$9.59B$8.76B
Interest expense$1.18B$1.12B$1.15B$1.13B$1.19B$1.22B$1.32B$697.00M$736.00M$754.00M
Pre-tax income$9.39B$13.66B$10.93B$7.39B$3.82B$6.89B$766.00M$9.34B$9.83B$21.85B
Income tax$2.44B$2.39B$2.80B$1.63B$1.35B$2.44B$2.06B$2.37B-$399.00M$7.61B
Net income$6.95B$11.26B$8.13B$5.76B$2.48B$4.47B-$1.29B$6.96B$10.22B$14.24B
EPS, basic$4.12$6.54$4.57$3.19$1.34$2.40-$0.70$3.69$5.31$7.28
EPS, diluted$4.12$6.54$4.57$3.19$1.34$2.40-$0.70$3.68$5.31$7.28
Diluted shares1.68B1.72B1.78B1.80B1.84B1.86B1.87B1.89B1.92B1.95B

Balance sheet

Balance sheet
Line item
Dec 31, 2025
Dec 31, 2024
Dec 31, 2023
Dec 31, 2022
Dec 31, 2021
Dec 31, 2020
Dec 31, 2019
Dec 31, 2018
Dec 31, 2017
Dec 31, 2016
Cash and equivalents$4.47B$3.16B$3.69B$4.09B$4.59B$5.01B$2.16B$1.43B$1.31B$4.65B
Receivables$263.00M$177.00M$71.00M$48.00M$47.00M$137.00M$152.00M$142.00M$142.00M$151.00M
Inventory$1.07B$1.08B$1.22B$1.18B$1.19B$1.97B$2.29B$2.33B$2.23B$2.05B
Current assets$5.93B$4.51B$5.58B$7.22B$6.08B$7.12B$4.82B$4.30B$4.34B$7.26B
Goodwill$5.79B$6.95B$6.79B$5.18B$5.18B$5.18B$5.18B$5.20B$5.31B$5.29B
Total assets$35.02B$35.18B$38.57B$36.95B$39.52B$47.41B$49.27B$55.46B$43.20B$45.93B
Current liabilities$9.15B$8.78B$11.32B$8.62B$8.58B$9.06B$8.17B$21.19B$6.79B$7.38B
Short-term debt$1.57B$1.53B$1.12B$1.56B$1.10B$1.50B$1.00B$1.14B$864.00M$0
Long-term debt$24.14B$23.40B$25.11B$25.12B$26.94B$27.97B$27.04B$11.90B$13.03B$13.88B
Total debt$25.71B$24.93B$26.23B$26.68B$28.04B$29.47B$28.04B$13.04B$13.89B$13.88B
Total liabilities$38.47B$37.37B$42.06B$40.88B$41.13B$44.45B$42.91B$40.63B$27.78B$33.12B
Shareholders' equity-$3.50B-$2.19B-$3.49B-$3.92B-$1.61B$2.92B$6.32B$14.79B$15.38B$12.77B

Cash flow

Cash flow
Line item
Dec 31, 2025
Dec 31, 2024
Dec 31, 2023
Dec 31, 2022
Dec 31, 2021
Dec 31, 2020
Dec 31, 2019
Dec 31, 2018
Dec 31, 2017
Dec 31, 2016
Operating cash flow$9.29B$8.75B$9.29B$8.26B$8.40B$8.38B$7.84B$8.39B$4.90B$3.83B
Capital expenditures$216.00M$142.00M$196.00M$205.00M$169.00M$231.00M$246.00M$238.00M$199.00M$189.00M
Free cash flow$9.07B$8.61B$9.09B$8.05B$8.24B$8.15B$7.59B$8.15B$4.70B$3.64B
Investing cash flow-$341.00M$2.17B-$1.28B$782.00M$1.21B-$143.00M-$2.40B-$12.99B-$467.00M$3.71B
Financing cash flow-$7.62B-$11.49B-$8.37B-$9.54B-$10.03B-$5.40B-$4.71B$4.72B-$7.77B-$5.33B
Dividends paid$6.96B$6.84B$6.78B$6.60B$6.45B$6.29B$6.07B$5.42B$4.81B$4.51B
Share repurchases$1.00B$3.40B$1.00B$1.82B$1.68B$0$845.00M$1.67B$2.92B$1.03B
Depreciation and amortization$266.00M$286.00M$272.00M$226.00M$244.00M$257.00M$226.00M$227.00M$209.00M$204.00M

Key ratios

Key ratios
Line item
Dec 31, 2025
Dec 31, 2024
Dec 31, 2023
Dec 31, 2022
Dec 31, 2021
Dec 31, 2020
Dec 31, 2019
Dec 31, 2018
Dec 31, 2017
Dec 31, 2016
Revenue growth, YoY-3.1%-1.9%-2.4%-3.5%-0.5%4.2%-1.0%-0.8%-0.7%1.2%
Net income growth, YoY-38.3%38.5%41.0%132.9%-44.6%---31.9%-28.2%171.7%
EPS growth, YoY-37.0%43.1%43.3%138.1%-44.2%---30.7%-27.1%172.7%
Gross margin62.5%59.8%58.3%56.8%53.8%49.8%50.6%48.3%46.8%45.0%
Operating margin42.5%46.8%47.2%47.5%44.4%41.6%41.1%35.9%37.5%34.0%
Net margin29.8%46.9%33.2%23.0%9.5%17.1%-5.1%27.5%40.0%55.3%
Free cash flow margin39.0%35.9%37.1%32.1%31.7%31.2%30.2%32.1%18.4%14.1%
Return on equity-----152.7%-20.5%47.1%66.5%111.5%
Return on assets19.8%32.0%21.1%15.6%6.3%9.4%-2.6%12.6%23.7%31.0%
Current ratio0.650.510.490.840.710.790.590.200.640.98
Debt to equity-----10.084.440.880.901.09

Source: XBRL data Altria Group Inc. files with the SEC, latest filing dated Oct 29, 2026 (see filings on SEC EDGAR). Provided for information only, not investment advice. Check the filing before relying on a number.

* Worked out from the filings rather than stated in them: Q4 is the full year less the first nine months.

Per-share figures are as filed. The filings show no stock split in these periods.

EPS growth is left out where the share count moved enough to suggest a split the filings do not show. Growth rates need a positive starting figure. CAGR is compound annual growth between fiscal years. The CSV holds every period on file, in full figures, from the same SEC filings.

MO peers

CompanyRevenueGrowthNet incomeNet marginMarket cap
MO$23.52B+0.5%$8.12B34.5%$126.62B
PM$43.14B+7.9%$10.71B24.8%$308.43B
BTI£25.61B-1.0%£7.76B30.3%$131.54B
DFTX---$353.79M-$4.47B
RGC---$11.70M-$2.61B
TRLV$1.08B-9.1%-$445.60M-41.2%$2.23B
RLXCN¥3.96B+44.0%CN¥921.87M23.3%$1.97B
CRON$271.85M+54.3%$63.36M23.3%$1.33B
TLRY$963.10M+15.9%-$164.22M-17.1%$430.8M

MO FAQ

9 questions
  • What is MO revenue?
    Altria Group Inc. (MO) reported $23.52B of revenue for the twelve months ended Sep 30, 2026. That is up 0.5% from the year before. Revenue for fiscal 2025 was $23.28B.
  • Is MO profitable?
    Yes. Altria Group Inc. earned $8.12B in net income for the twelve months ended Sep 30, 2026, a net margin of 34.5%.
  • How much cash and debt does MO have?
    Altria Group Inc. reported $2.70B in cash and cash equivalents and $24.06B of debt on its most recent balance sheet in SEC filings.
  • How fast is MO revenue growing?
    Altria Group Inc.'s revenue changed -3.1% in fiscal 2025, to $23.28B. Its compound annual growth rate was -2.3% over 5 years and -0.9% over 10 years.
  • What is MO gross margin?
    Altria Group Inc.'s gross profit was $14.90B on $23.52B of revenue for the twelve months ended Sep 30, 2026, a gross margin of 63.3%.
  • What is MO free cash flow?
    Altria Group Inc. generated $9.07B of free cash flow for the twelve months ended Sep 30, 2026, which is operating cash flow of $9.42B less capital expenditures.
  • What is MO earnings per share?
    Diluted earnings per share were $4.85 for the twelve months ended Sep 30, 2026, from SEC filings, restated for any stock split those filings show.
  • When did MO last report financial results?
    The latest statements here come from Altria Group Inc.'s 10-Q filed on Oct 29, 2026, covering the period ended Sep 30, 2026.
  • Where does this MO financial data come from?
    Quantisnow builds these statements from the structured XBRL data Altria Group Inc. files with the SEC. It is provided for information only and is not investment advice.