Philip Morris International Inc (PM) reported $43.14B of revenue for the twelve months ended Sep 30, 2026. That is up 7.9% from the year before. Revenue for fiscal 2025 was $40.65B.

Yes. Philip Morris International Inc earned $10.71B in net income for the twelve months ended Sep 30, 2026, a net margin of 24.8%.

How much cash and debt does PM have?

Philip Morris International Inc reported $6.68B in cash and cash equivalents and $44.23B of debt on its most recent balance sheet in SEC filings.

How fast is PM revenue growing?

Philip Morris International Inc's revenue changed +7.3% in fiscal 2025, to $40.65B. Its compound annual growth rate was -11.8% over 5 years and -5.8% over 10 years.

What is PM gross margin?

Philip Morris International Inc's gross profit was $29.20B on $43.14B of revenue for the twelve months ended Sep 30, 2026, a gross margin of 67.7%.

What is PM free cash flow?

Philip Morris International Inc generated $13.60B of free cash flow for the twelve months ended Sep 30, 2026, which is operating cash flow of $15.15B less capital expenditures.

What is PM earnings per share?

Diluted earnings per share were $6.84 for the twelve months ended Sep 30, 2026, from SEC filings, restated for any stock split those filings show.

When did PM last report financial results?

The latest statements here come from Philip Morris International Inc's 10-Q filed on Oct 23, 2026, covering the period ended Sep 30, 2026.

Financials · PM

Philip Morris International Inc (PM) financials

For the twelve months ended Sep 30, 2026, Philip Morris International Inc reported $43.14B of revenue and $10.71B of net income.

Revenue, TTM: $43.14B
Revenue growth, YoY: +7.9%
Net income, TTM: $10.71B
Net income growth, YoY: +24.1%
Net margin: 24.8%
Free cash flow, TTM: $13.60B
EPS, diluted, TTM: $6.84
EPS growth, YoY: +23.7%
Cash: $6.68B
Total debt: $44.23B
P/E: 28.80
P/S: 7.15
Market cap: $308.43B

Annual revenue$40.65B

FY2016FY2025

Annual net income$11.35B

FY2016FY2025

Annual free cash flow$10.66B

FY2016FY2025

PM revenue and earnings growth

PM revenueQ3 2026$11.44B

Quarter YoY: +5.5%
QoQ: +2.2%
FY YoY: +7.3%
5Y CAGR: -11.8%
10Y CAGR: -5.8%

PM revenue was $11.44B in fiscal Q3 2026 (ended Sep 30, 2026), up 5.5% from a year earlier and up 2.2% from the prior quarter. For the full fiscal 2025 it was $40.65B, up 7.3% from fiscal 2024. Compound annual growth was -11.8% over 5 years and -5.8% over 10 years. It rose in 7 of the last 10 fiscal years.

PM net incomeQ3 2026$3.31B

Quarter YoY: -4.7%
QoQ: +17.6%
FY YoY: +60.8%
5Y CAGR: +7.1%
10Y CAGR: +5.1%

PM net income was $3.31B in fiscal Q3 2026 (ended Sep 30, 2026), down 4.7% from a year earlier and up 17.6% from the prior quarter. For the full fiscal 2025 it was $11.35B, up 60.8% from fiscal 2024. Compound annual growth was +7.1% over 5 years and +5.1% over 10 years. It rose in 5 of the last 10 fiscal years. Fiscal 2025 is the highest of the 15 fiscal years on file.

PM EPSQ3 2026$2.12

Quarter YoY: -4.9%
QoQ: +17.8%
FY YoY: +60.6%
5Y CAGR: +7.1%
10Y CAGR: +5.1%

PM diluted EPS was $2.12 in fiscal Q3 2026 (ended Sep 30, 2026), down 4.9% from a year earlier and up 17.8% from the prior quarter. For the full fiscal 2025 it was $7.26, up 60.6% from fiscal 2024. Compound annual growth was +7.1% over 5 years and +5.1% over 10 years.

PM free cash flowQ3 2026$4.97B

Quarter YoY: +21.3%
QoQ: -2.8%
FY YoY: -1.0%
5Y CAGR: +3.0%
10Y CAGR: +4.4%

PM free cash flow was $4.97B in fiscal Q3 2026 (ended Sep 30, 2026), up 21.3% from a year earlier and down 2.8% from the prior quarter. For the full fiscal 2025 it was $10.66B, down 1.0% from fiscal 2024. Compound annual growth was +3.0% over 5 years and +4.4% over 10 years. It rose in 5 of the last 10 fiscal years.

Export CSV

Income statement

Income statement
Line item	FY2025 Dec 31, 2025	FY2024 Dec 31, 2024	FY2023 Dec 31, 2023	FY2022 Dec 31, 2022	FY2021 Dec 31, 2021	FY2020 Dec 31, 2020	FY2019 Dec 31, 2019	FY2018 Dec 31, 2018	FY2017 Dec 31, 2017	FY2016 Dec 31, 2016
Revenue	$40.65B	$37.88B	$35.17B	$31.76B	$31.41B	$76.05B	$77.92B	$79.82B	$78.10B	$74.95B
Cost of revenue	$13.37B	$13.33B	$12.89B	$11.40B	$10.03B	$9.57B	$10.51B	$10.76B	$10.43B	$9.39B
Gross profit	$27.28B	$24.55B	$22.28B	$20.36B	$21.38B	$19.13B	$19.29B	$18.87B	$18.32B	$17.29B
Research and development	$756.00M	$759.00M	$709.00M	$642.00M	$617.00M	$495.00M	$465.00M	$383.00M	$453.00M	$429.00M
Selling, general and admin	-	-	-	-	-	-	-	-	$164.00M	$161.00M
Operating income	$14.89B	$13.40B	$11.56B	$12.25B	$12.97B	$11.67B	$10.53B	$11.38B	$11.58B	$10.90B
Interest expense	$1.59B	$1.76B	$1.53B	$768.00M	$737.00M	$728.00M	$796.00M	$855.00M	$1.10B	$1.07B
Pre-tax income	$13.88B	$12.20B	$10.45B	$11.63B	$12.23B	$10.95B	$9.87B	$10.67B	$10.59B	$9.92B
Income tax	$2.74B	$3.02B	$2.34B	$2.24B	$2.67B	$2.38B	$2.29B	$2.44B	$4.31B	$2.77B
Net income	$11.35B	$7.06B	$7.81B	$9.05B	$9.11B	$8.06B	$7.18B	$7.91B	$6.04B	$6.97B
EPS, basic	$7.27	$4.53	$5.02	$5.82	$5.83	$5.16	$4.61	$5.08	$3.88	$4.48
EPS, diluted	$7.26	$4.52	$5.02	$5.81	$5.83	$5.16	$4.61	$5.08	$3.88	$4.48
Diluted shares	1.56B	1.56B	1.55B	1.55B	1.56B	1.56B	1.56B	1.55B	1.55B	1.55B

Balance sheet

Balance sheet
Line item	FY2025 Dec 31, 2025	FY2024 Dec 31, 2024	FY2023 Dec 31, 2023	FY2022 Dec 31, 2022	FY2021 Dec 31, 2021	FY2020 Dec 31, 2020	FY2019 Dec 31, 2019	FY2018 Dec 31, 2018	FY2017 Dec 31, 2017	FY2016 Dec 31, 2016
Cash and equivalents	$4.87B	$4.25B	$3.15B	$3.22B	$4.50B	$7.29B	$6.87B	$6.62B	$8.48B	$4.33B
Receivables	$4.57B	$3.79B	$3.46B	$3.85B	$3.12B	$2.90B	$3.08B	$2.95B	$3.19B	$3.50B
Inventory	$11.48B	$9.45B	$10.77B	$9.89B	$8.72B	$9.59B	$9.23B	$8.80B	$8.81B	$9.02B
Current assets	$24.36B	$20.17B	$19.75B	$19.62B	$17.72B	$21.49B	$20.51B	$19.44B	$21.59B	$17.61B
Goodwill	$17.26B	$16.60B	$16.78B	$19.66B	$6.68B	$5.96B	$5.86B	$7.19B	$7.67B	$7.32B
Total assets	$69.19B	$61.78B	$65.30B	$61.68B	$41.29B	$44.81B	$42.88B	$39.80B	$42.97B	$36.85B
Current liabilities	$25.43B	$22.91B	$26.38B	$27.34B	$19.25B	$19.61B	$18.83B	$17.19B	$15.96B	$16.47B
Short-term debt	$168.00M	$137.00M	$1.97B	$5.64B	$225.00M	$244.00M	$338.00M	$730.00M	$499.00M	$643.00M
Long-term debt	$45.13B	$42.17B	$41.24B	$34.88B	$24.78B	$28.17B	$26.66B	$26.98B	$31.33B	$25.85B
Total debt	$45.30B	$42.30B	$43.21B	$40.51B	$25.01B	$28.41B	$26.99B	$27.70B	$31.83B	$26.49B
Total liabilities	$77.21B	$71.65B	$74.75B	$67.99B	$49.50B	$55.45B	$52.47B	$50.54B	$53.20B	$47.75B
Shareholders' equity	-$9.99B	-$9.87B	-$9.45B	-$6.31B	-$8.21B	-$10.63B	-$9.60B	-$10.74B	-$10.23B	-$10.90B

Cash flow

Cash flow
Line item	FY2025 Dec 31, 2025	FY2024 Dec 31, 2024	FY2023 Dec 31, 2023	FY2022 Dec 31, 2022	FY2021 Dec 31, 2021	FY2020 Dec 31, 2020	FY2019 Dec 31, 2019	FY2018 Dec 31, 2018	FY2017 Dec 31, 2017	FY2016 Dec 31, 2016
Operating cash flow	$12.23B	$12.22B	$9.20B	$10.80B	$11.97B	$9.81B	$10.09B	$9.48B	$8.91B	$8.08B
Capital expenditures	$1.57B	$1.44B	$1.32B	$1.08B	$748.00M	$602.00M	$852.00M	$1.44B	$1.55B	$1.17B
Free cash flow	$10.66B	$10.77B	$7.88B	$9.73B	$11.22B	$9.21B	$9.24B	$8.04B	$7.36B	$6.91B
Investing cash flow	-$3.97B	-$1.09B	-$3.60B	-$15.68B	-$2.36B	-$1.15B	-$1.81B	-$998.00M	-$3.08B	-$834.00M
Financing cash flow	-$8.13B	-$9.48B	-$5.58B	$3.81B	-$11.98B	-$8.50B	-$8.06B	-$9.65B	-$2.77B	-$5.41B
Dividends paid	$8.62B	$8.20B	$7.96B	$7.81B	$7.58B	$7.36B	$7.16B	$6.88B	$6.52B	$6.38B
Share repurchases	-	$0	$0	$209.00M	$775.00M	$0	$0	-	$0	$0
Depreciation and amortization	$2.00B	$1.79B	$1.40B	$1.08B	$998.00M	$981.00M	$964.00M	$989.00M	$875.00M	$743.00M

Key ratios

Key ratios
Line item	FY2025 Dec 31, 2025	FY2024 Dec 31, 2024	FY2023 Dec 31, 2023	FY2022 Dec 31, 2022	FY2021 Dec 31, 2021	FY2020 Dec 31, 2020	FY2019 Dec 31, 2019	FY2018 Dec 31, 2018	FY2017 Dec 31, 2017	FY2016 Dec 31, 2016
Revenue growth, YoY	7.3%	7.7%	10.7%	1.1%	-58.7%	-2.4%	-2.4%	2.2%	4.2%	1.4%
Net income growth, YoY	60.8%	-9.7%	-13.6%	-0.7%	13.1%	12.1%	-9.2%	31.1%	-13.4%	1.4%
EPS growth, YoY	60.6%	-10.0%	-13.6%	-0.3%	13.0%	11.9%	-9.3%	30.9%	-13.4%	1.4%
Gross margin	67.1%	64.8%	63.3%	64.1%	68.1%	25.1%	24.8%	23.6%	23.5%	23.1%
Operating margin	36.6%	35.4%	32.9%	38.6%	41.3%	15.3%	13.5%	14.3%	14.8%	14.5%
Net margin	27.9%	18.6%	22.2%	28.5%	29.0%	10.6%	9.2%	9.9%	7.7%	9.3%
Free cash flow margin	26.2%	28.4%	22.4%	30.6%	35.7%	12.1%	11.9%	10.1%	9.4%	9.2%
Return on assets	16.4%	11.4%	12.0%	14.7%	22.1%	18.0%	16.8%	19.9%	14.0%	18.9%
Current ratio	0.96	0.88	0.75	0.72	0.92	1.10	1.09	1.13	1.35	1.07

Income statement

Income statement
Line item	Q3 2026 Sep 30, 2026	Q2 2026 Jun 30, 2026	Q1 2026 Mar 31, 2026	Q4 2025* Dec 31, 2025	Q3 2025 Sep 30, 2025	Q2 2025 Jun 30, 2025	Q1 2025 Mar 31, 2025	Q4 2024* Dec 31, 2024	Q3 2024 Sep 30, 2024	Q2 2024 Jun 30, 2024	Q1 2024 Mar 31, 2024	Q4 2023* Dec 31, 2023
Revenue	$11.44B	$11.19B	$10.15B	$10.36B	$10.85B	$10.14B	$9.30B	$9.71B	$9.91B	$9.47B	$8.79B	$9.05B
Cost of revenue	$3.58B	$3.53B	$3.24B	$3.58B	$3.48B	$3.27B	$3.03B	$3.42B	$3.37B	$3.35B	$3.19B	$3.46B
Gross profit	$7.85B	$7.66B	$6.91B	$6.79B	$7.36B	$6.87B	$6.27B	$6.28B	$6.54B	$6.12B	$5.60B	$5.58B
Operating income	$4.87B	$4.53B	$3.89B	$3.37B	$4.26B	$3.71B	$3.54B	$3.26B	$3.65B	$3.44B	$3.04B	$2.89B
Pre-tax income	$4.59B	$4.29B	$3.66B	$3.15B	$4.02B	$3.42B	$3.29B	$2.92B	$3.45B	$3.10B	$2.73B	$2.61B
Income tax	$986.00M	$955.00M	$676.00M	$675.00M	$751.00M	$652.00M	$659.00M	$872.00M	$735.00M	$734.00M	$676.00M	$320.00M
Net income	$3.31B	$2.82B	$2.44B	$2.14B	$3.48B	$3.04B	$2.69B	-$579.00M	$3.08B	$2.41B	$2.15B	$2.20B
EPS, basic	$2.12	$1.80	$1.56	$1.37	$2.23	$1.95	$1.72	-$0.37	$1.98	$1.54	$1.38	$1.41
EPS, diluted	$2.12	$1.80	$1.56	$1.36	$2.23	$1.95	$1.72	-$0.37	$1.97	$1.54	$1.38	$1.41
Diluted shares	1.56B	1.56B	1.56B	-	1.56B	1.56B	1.56B	-	1.56B	1.56B	1.55B	-

Balance sheet

Balance sheet
Line item	Q3 2026 Sep 30, 2026	Q2 2026 Jun 30, 2026	Q1 2026 Mar 31, 2026	Q4 2025* Dec 31, 2025	Q3 2025 Sep 30, 2025	Q2 2025 Jun 30, 2025	Q1 2025 Mar 31, 2025	Q4 2024* Dec 31, 2024	Q3 2024 Sep 30, 2024	Q2 2024 Jun 30, 2024	Q1 2024 Mar 31, 2024	Q4 2023* Dec 31, 2023
Cash and equivalents	$6.68B	$6.00B	$5.45B	$4.87B	$4.06B	$4.18B	$4.48B	$4.25B	$4.30B	$4.88B	$4.10B	$3.15B
Receivables	$5.16B	$5.18B	$5.12B	$4.57B	$4.80B	$4.99B	$4.88B	$3.79B	$4.24B	$4.24B	$4.19B	$3.46B
Inventory	$10.33B	$11.44B	$11.39B	$11.48B	$10.27B	$10.73B	$10.13B	$9.45B	$9.36B	$9.38B	$9.97B	$10.77B
Current assets	$25.79B	$26.01B	$25.60B	$24.36B	$22.66B	$23.36B	$22.20B	$20.17B	$20.80B	$21.03B	$20.87B	$19.75B
Goodwill	$16.79B	$16.92B	$17.07B	$17.26B	$17.18B	$17.23B	$16.86B	$16.60B	$17.14B	$16.82B	$16.46B	$16.78B
Total assets	$66.73B	$68.27B	$68.91B	$69.19B	$67.06B	$68.51B	$65.08B	$61.78B	$66.89B	$65.78B	$65.31B	$65.30B
Current liabilities	$25.20B	$26.54B	$26.22B	$25.43B	$26.72B	$28.15B	$28.09B	$22.91B	$23.37B	$22.42B	$22.17B	$26.38B
Short-term debt	$2.52B	$3.34B	$5.69B	$168.00M	$1.88B	$2.54B	$4.44B	$137.00M	$152.00M	$139.00M	$279.00M	$1.97B
Long-term debt	$41.71B	$42.37B	$43.81B	$45.13B	$41.86B	$42.43B	$38.78B	$42.17B	$44.24B	$44.65B	$44.68B	$41.24B
Total debt	$44.23B	$45.71B	$49.50B	$45.30B	$43.74B	$44.97B	$43.22B	$42.30B	$44.39B	$44.79B	$44.96B	$43.21B
Total liabilities	$72.67B	$74.93B	$76.21B	$77.21B	$76.05B	$78.52B	$74.00B	$71.65B	$74.61B	$73.72B	$73.88B	$74.75B
Shareholders' equity	-$7.94B	-$6.66B	-$7.30B	-$9.99B	-$8.98B	-$10.01B	-$8.93B	-$9.87B	-$7.71B	-$7.94B	-$8.56B	-$9.45B

Cash flow

Cash flow
Line item	Q3 2026 Sep 30, 2026	Q2 2026 Jun 30, 2026	Q1 2026 Mar 31, 2026	Q4 2025* Dec 31, 2025	Q3 2025 Sep 30, 2025	Q2 2025 Jun 30, 2025	Q1 2025 Mar 31, 2025	Q4 2024* Dec 31, 2024	Q3 2024 Sep 30, 2024	Q2 2024 Jun 30, 2024	Q1 2024 Mar 31, 2024	Q4 2023* Dec 31, 2023
Operating cash flow	$5.35B	$5.49B	-$399.00M	$4.71B	$4.46B	$3.41B	-$350.00M	$4.00B	$3.34B	$4.63B	$241.00M	$3.30B
Capital expenditures	$382.00M	$380.00M	$353.00M	$444.00M	$365.00M	$356.00M	$404.00M	$278.00M	$379.00M	$370.00M	$417.00M	$311.00M
Free cash flow	$4.97B	$5.11B	-$752.00M	$4.26B	$4.10B	$3.06B	-$754.00M	$3.72B	$2.96B	$4.26B	-$176.00M	$2.99B
Investing cash flow	-$507.00M	$26.00M	-$3.00M	-$428.00M	-$789.00M	-$2.32B	-$434.00M	$441.00M	-$1.00B	-$337.00M	-$193.00M	-$568.00M
Financing cash flow	-$3.94B	-$4.97B	$1.10B	-$3.58B	-$3.66B	-$1.56B	$671.00M	-$4.10B	-$2.98B	-$3.53B	$1.14B	-$2.90B
Dividends paid	$2.30B	$2.30B	$2.31B	$2.29B	$2.11B	$2.11B	$2.12B	$2.11B	$2.03B	$2.03B	$2.04B	$2.02B
Share repurchases	-	-	-	-	-	-	-	-	-	-	-	$0
Depreciation and amortization	$511.00M	$513.00M	$510.00M	$521.00M	$505.00M	$490.00M	$480.00M	$477.00M	$498.00M	$445.00M	$367.00M	-

Key ratios

Key ratios
Line item	Q3 2026 Sep 30, 2026	Q2 2026 Jun 30, 2026	Q1 2026 Mar 31, 2026	Q4 2025* Dec 31, 2025	Q3 2025 Sep 30, 2025	Q2 2025 Jun 30, 2025	Q1 2025 Mar 31, 2025	Q4 2024* Dec 31, 2024	Q3 2024 Sep 30, 2024	Q2 2024 Jun 30, 2024	Q1 2024 Mar 31, 2024	Q4 2023* Dec 31, 2023
Revenue growth, YoY	5.5%	10.4%	9.1%	6.8%	9.4%	7.1%	5.8%	7.3%	8.4%	5.6%	9.7%	11.0%
Net income growth, YoY	-4.7%	-7.3%	-9.4%	-	12.8%	26.3%	25.2%	-	50.0%	53.4%	7.7%	-8.4%
EPS growth, YoY	-4.9%	-7.7%	-9.3%	-	13.2%	26.6%	24.6%	-	49.2%	52.5%	7.8%	-8.4%
Gross margin	68.7%	68.4%	68.1%	65.5%	67.9%	67.7%	67.4%	64.7%	66.0%	64.7%	63.7%	61.7%
Operating margin	42.5%	40.5%	38.4%	32.6%	39.3%	36.6%	38.1%	33.6%	36.9%	36.4%	34.6%	31.9%
Net margin	29.0%	25.2%	24.0%	20.7%	32.1%	30.0%	28.9%	-6.0%	31.1%	25.4%	24.4%	24.3%
Free cash flow margin	43.5%	45.7%	-7.4%	41.2%	37.8%	30.1%	-8.1%	38.4%	29.9%	45.0%	-2.0%	33.1%
Current ratio	1.02	0.98	0.98	0.96	0.85	0.83	0.79	0.88	0.89	0.94	0.94	0.75

Source: XBRL data Philip Morris International Inc files with the SEC, latest filing dated Oct 23, 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.

PM peers

Company	Revenue	Growth	Net income	Net margin	Market cap
PM	$43.14B	+7.9%	$10.71B	24.8%	$308.43B
BTIBritish American Tobacco Industries p.l.c.	£25.61B	-1.0%	£7.76B	30.3%	$131.54B
MOAltria Group Inc.	$23.52B	+0.5%	$8.12B	34.5%	$126.62B
DFTXDefinium Therapeutics Inc.	-	-	-$353.79M	-	$4.47B
RGCRegencell Bioscience Holdings Limited	-	-	-$11.70M	-	$2.61B
TRLVTrulieve Cannabis Corp. Subordinate Voting Shares	$1.08B	-9.1%	-$445.60M	-41.2%	$2.23B
RLXRLX Technology Inc.	CN¥3.96B	+44.0%	CN¥921.87M	23.3%	$1.97B
CRONCronos Group Inc.	$271.85M	+54.3%	$63.36M	23.3%	$1.33B
TLRYTilray Brands Inc.	$963.10M	+15.9%	-$164.22M	-17.1%	$430.8M

PM FAQ

9 questions

What is PM revenue?
Philip Morris International Inc (PM) reported $43.14B of revenue for the twelve months ended Sep 30, 2026. That is up 7.9% from the year before. Revenue for fiscal 2025 was $40.65B.
Is PM profitable?
Yes. Philip Morris International Inc earned $10.71B in net income for the twelve months ended Sep 30, 2026, a net margin of 24.8%.
How much cash and debt does PM have?
Philip Morris International Inc reported $6.68B in cash and cash equivalents and $44.23B of debt on its most recent balance sheet in SEC filings.
How fast is PM revenue growing?
Philip Morris International Inc's revenue changed +7.3% in fiscal 2025, to $40.65B. Its compound annual growth rate was -11.8% over 5 years and -5.8% over 10 years.
What is PM gross margin?
Philip Morris International Inc's gross profit was $29.20B on $43.14B of revenue for the twelve months ended Sep 30, 2026, a gross margin of 67.7%.
What is PM free cash flow?
Philip Morris International Inc generated $13.60B of free cash flow for the twelve months ended Sep 30, 2026, which is operating cash flow of $15.15B less capital expenditures.
What is PM earnings per share?
Diluted earnings per share were $6.84 for the twelve months ended Sep 30, 2026, from SEC filings, restated for any stock split those filings show.
When did PM last report financial results?
The latest statements here come from Philip Morris International Inc's 10-Q filed on Oct 23, 2026, covering the period ended Sep 30, 2026.
Where does this PM financial data come from?
Quantisnow builds these statements from the structured XBRL data Philip Morris International Inc files with the SEC. It is provided for information only and is not investment advice.