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Philip Morris International Inc. (PM) financial health, profit and balance sheet · Scorvest

PM · NYSE · United States · Cigarettes

Philip Morris International Inc.

Stamford, CT · Fiscal year ends in December · Figures in USD

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In shortPhilip Morris International Inc. is profitable.

Financial health

Solid

Built from five areas over the last five annual reports. Tap an area to see the figures behind it.

How is this score calculated? →

Profitability75

Operating marginShare of each sale left after running the business, before interest and tax.	36.6%	100/100
Net marginShare of each sale left as profit after every cost, interest and tax.	27.9%	100/100
Return on equityProfit earned on the money shareholders put in. Above 15% is strong.	–	0/100
Return on invested capitalProfit earned on all the capital used (equity and debt). Above 10% usually means a real competitive edge.	30.9%	100/100

Weight in the score: 25%

Balance sheet35

Current ratioShort-term assets divided by short-term debts. Below 1 can mean tight cash.	0.96×	13/100
Debt / equityDebt compared with the shareholders' stake. Above 2 is heavily indebted.	–	0/100
Net debt / EBITDAYears of operating profit needed to repay net debt. Below 2 is comfortable.	2.59×	40/100
Interest coverageHow many times operating profit covers interest. Below 2 is risky.	9.38×	75/100
Altman Z''Bankruptcy-risk model. Above 2.6 safe, below 1.1 distress.	2.88	46/100

Weight in the score: 25%

Cash generation93

Free cash flow marginCash left from each sale after investments. The money that can pay dividends or reduce debt.	26.2%	100/100
Free cash flow / net incomeHow much accounting profit turns into real cash. Near 1 or above is healthy.	0.94×	80/100
Years with positive free cash flow (last 5)	5 of 5	100/100

Weight in the score: 20%

Stability38
Profitable years (last 5) 5 of 5 100/100
Years of revenue decline (last 5) 2 of 5 33/100
Revenue growth volatility 27.9% 8/100
Operating margin volatility 10.8% 11/100
Weight in the score: 20%
Growth32
Revenue growth, 3-year average -20.4% 0/100
EPS growth, 3-year average 7.7% 64/100
Weight in the score: 10%

Profitable years (last 5)	5 of 5	100/100
Years of revenue decline (last 5)	2 of 5	33/100
Revenue growth volatility	27.9%	8/100
Operating margin volatility	10.8%	11/100

Revenue growth, 3-year average	-20.4%	0/100
EPS growth, 3-year average	7.7%	64/100

Fiscal year 2025 · change vs prior year

Revenue: $40.6B; ▲ 7.3%
Net income: $11.3B; ▲ 60.8%
Free cash flow: $10.7B; ▼ 1.0%
Operating margin: 36.6%; +1.3 pts
Cash & investments: $4.9B; –
Total debt: $48.7B; ▲ 6.8%
Diluted EPS: $7.26; ▲ 60.6%
Return on equity: –; –

Trends

Annual figures as reported. Hover a bar or point for the exact value.

5 older years available with the 10-year history. Essential plan, from €8.25/month →

Revenue and net income

RevenueNet income

Margins

Statements

The last 5 fiscal years from the company's annual reports.

USD millions; negative values in parentheses.

Fiscal year	FY21	FY22	FY23	FY24	FY25
Revenue	82,223	80,669	35,174	37,878	40,648
Cost of revenue	10,030	11,402	12,893	13,329	13,366
Gross profit	21,375	20,360	22,281	24,549	27,282
Research & development	617	642	709	759	756
Operating income	12,975	12,246	11,556	13,402	14,892
Interest expense	737	768	1,526	1,763	1,587
Pre-tax income	12,232	11,634	10,450	12,199	13,880
Income tax	2,671	2,244	2,339	3,017	2,737
Net income	9,109	9,048	7,813	7,057	11,348
Diluted EPS	$5.83	$5.81	$5.02	$4.52	$7.26
Diluted shares (millions)	1,559	1,552	1,553	1,556	1,558

5 older years available with the 10-year history. Essential plan, from €8.25/month →

Risk checks

Altman Z'' score

2.88 Safe zone

Estimates bankruptcy risk from working capital, retained earnings, operating profit and equity. Above 2.6 is considered safe, below 1.1 signals distress.

Piotroski F-score

8/9

Nine yes-or-no tests on profitability, debt, liquidity and efficiency versus the prior year. 7 to 9 is strong, 0 to 3 is weak.

Positive net income: passed
Positive operating cash flow: passed
Return on assets improved: passed
Cash flow exceeds net income: passed
Long-term debt ratio fell: passed
Current ratio improved: passed
No share dilution: passed
Gross margin improved: passed
Asset turnover improved: failed

Sources

10-QPeriod ending Sep 30, 2026Filed Oct 23, 2026Open the report ↗
10-QPeriod ending Jun 30, 2026Filed Jul 24, 2026Open the report ↗
10-QPeriod ending Mar 31, 2026Filed Apr 24, 2026Open the report ↗
10-KPeriod ending Dec 31, 2025Filed Feb 6, 2026Open the report ↗
10-QPeriod ending Sep 30, 2025Filed Oct 24, 2025Open the report ↗
10-QPeriod ending Jun 30, 2025Filed Jul 25, 2025Open the report ↗
10-QPeriod ending Mar 31, 2025Filed Apr 24, 2025Open the report ↗
10-KPeriod ending Dec 31, 2024Filed Feb 6, 2025Open the report ↗