NYSE · Tobacco

Philip Morris International

Q: What does Philip Morris International do?

Philip Morris generates revenue from selling cigarette brands like Marlboro internationally (excluding the U.S.) across over 180 markets. The company has aggressively shifted toward smoke-free products, particularly IQOS heated tobacco devices and ZYN nicotine pouches. Revenue increasingly comes from reduced-risk alternatives as cigarette volumes decline, with pricing power in traditional tobacco offsetting volume decreases while smoke-free products drive growth in developed markets.

Q: Is PM stock a good investment?

Philip Morris offers investors high dividend yields above 3% supported by strong cash flow and pricing power in tobacco. The company's transition to smoke-free products shows promise with IQOS gaining share in key markets like Japan and Europe. However, regulatory risks, declining smoking rates, and execution challenges in smoke-free adoption create uncertainty. Valuation reflects both the stable cash flows from legacy tobacco and growth potential from reduced-risk products.

Q: Who are Philip Morris International's main competitors?

British American Tobacco competes globally with brands like Dunhill and vaping products, Japan Tobacco dominates its home market and competes internationally, while Imperial Brands operates in Europe and emerging markets. Altria controls the U.S. cigarette market and partners with PM on IQOS distribution in America, making it both a competitor and collaborator.

Q: Does Philip Morris International pay dividends?

Philip Morris has raised its dividend annually since its 2008 spin-off from Altria, demonstrating commitment to shareholder returns despite industry headwinds. The company typically yields 3-5% with a moderate payout ratio around 75% of earnings. Strong international pricing power and cash generation from mature markets support the dividend, though future growth depends on successfully monetizing smoke-free products at attractive margins.

Q: What is the current share price of PM?

PM last closed at $163.87, up 0.39% in the most recent trading session. Over the past 52 weeks, the stock has traded between a low of $142.11 and a high of $190.98. The current price represents 45% of its 52-week range, which helps investors gauge where the stock sits relative to its recent trading history.

Q: Is PM rated a buy or sell by analysts?

Among 27 analysts covering PM, the consensus rating is Buy — 18 rate it a buy, 9 hold, and 0 sell. The average price target sits at $377.36, implying 130% upside from the current price. Keep in mind that analyst targets reflect 12-month expectations and can shift quickly after earnings reports or major company events.

Q: What are Philip Morris International's earnings?

Philip Morris International generated $40.58B in revenue during fiscal year 2026, with $11.33B reaching the bottom line as net income. The net profit margin of 27.9% is strong by most industry standards.

Q: How is PM valued compared to earnings?

PM trades at a P/E ratio of 25.17 on trailing earnings of $7.28 per share. That's roughly in line with the broader market average of ~20-25x. Comparing this multiple against Tobacco sector peers gives better context than the broad market alone, since P/E norms vary significantly across industries.

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$163.87

+0.63 (+0.39%)

As of Mar 24, 9:30 PM ET ·

Day Range $161.82 — $167.50

52W Range $142.11 — $190.98

Performance

1D —

1W —

1M —

3M +1.75%

6M -0.62%

1Y +7.66%

YTD +2.23%

Open$162.98

Previous Close$163.24

Day High$167.50

Day Low$161.82

52W High$190.98

52W Low$142.11

Volume—

Avg Volume5.31M

Market Cap285.65B

P/E Ratio25.17

EPS$7.28

SectorTobacco

Technical Indicators

Full analysis →

SMA 50 $168.42 Below

SMA 200 $166.84 Below

RSI (14) 60.8 Neutral

Trend Golden Cross Bullish

Analyst Ratings

Buy

27 analysts

18 Buy 9 Hold 0 Sell

Price Target +130.3% upside

Current
$163.87

Target
$377.36

$254.03 $377.36 avg $579.64

Key Financials

	FY 2026	FY 2025	FY 2024
Revenue	40.58B	37.38B	75.47B
Net Income	11.33B	9.39B	9.52B
Profit Margin	27.9%	26.5%	12.6%
EBITDA	16.81B	14.71B	17.79B
Free Cash Flow	—	—	9.00B
Rev Growth	+8.6%	+8.6%	+11.2%
Debt/Equity	80.98	80.98	0.45

Dividend

Dividend Yield3.20%

Annual Dividend$5.54

Payout Ratio76.0%

Frequencyannual

Ex-DividendMar 14, 2026

Pay DateMar 30, 2026

Recent Insider Activity

All Insiders →

Date	Insider	Type	Shares	Price	Value
Feb 20	De Wilde Frederic	Sale	133,513	$182.58	$24.38M
Feb 20	Olczak Jacek	Sale	632,344	$182.18	$115.20M
Feb 20	Guerin Yann	Sale	34,412	$181.69	$6.25M
Feb 20	Babeau Emmanuel	Sale	164,463	$181.61	$29.87M
Feb 20	Kennedy Stacey	Sale	45,301	$183.13	$8.30M

About Philip Morris International

Philip Morris International Inc., based in New York City, is a leading global tobacco and smoke-free products company. The company manufactures and sells cigarettes and other nicotine products across numerous countries. Philip Morris is one of the world's largest tobacco companies with significant global market share. The company is expanding into smoke-free product categories.

Tobacco Peers

Symbol	Name	Price	Change	P/E	Mkt Cap
MO	Altria Group Inc	$64.32	-0.11%	15.5	107.79B
TPB	Turning Point Brands Inc	$86.30	-1.09%	48.2	2.52B
UVV	Universal Corp/Va	$50.85	-1.42%	15.2	1.29B
ISPR	Ispire Technology Inc	$1.79	+1.70%	—	105.70M
XXII	22Nd Century Group Inc	$3.51	-1.68%	—	1.70M

PM Frequently Asked Questions

What does Philip Morris International do?

Philip Morris generates revenue from selling cigarette brands like Marlboro internationally (excluding the U.S.) across over 180 markets. The company has aggressively shifted toward smoke-free products, particularly IQOS heated tobacco devices and ZYN nicotine pouches. Revenue increasingly comes from reduced-risk alternatives as cigarette volumes decline, with pricing power in traditional tobacco offsetting volume decreases while smoke-free products drive growth in developed markets.

Is PM stock a good investment?

Philip Morris offers investors high dividend yields above 3% supported by strong cash flow and pricing power in tobacco. The company's transition to smoke-free products shows promise with IQOS gaining share in key markets like Japan and Europe. However, regulatory risks, declining smoking rates, and execution challenges in smoke-free adoption create uncertainty. Valuation reflects both the stable cash flows from legacy tobacco and growth potential from reduced-risk products.

Who are Philip Morris International's main competitors?

British American Tobacco competes globally with brands like Dunhill and vaping products, Japan Tobacco dominates its home market and competes internationally, while Imperial Brands operates in Europe and emerging markets. Altria controls the U.S. cigarette market and partners with PM on IQOS distribution in America, making it both a competitor and collaborator.

Does Philip Morris International pay dividends?

Philip Morris has raised its dividend annually since its 2008 spin-off from Altria, demonstrating commitment to shareholder returns despite industry headwinds. The company typically yields 3-5% with a moderate payout ratio around 75% of earnings. Strong international pricing power and cash generation from mature markets support the dividend, though future growth depends on successfully monetizing smoke-free products at attractive margins.

What is the current share price of PM?

PM last closed at $163.87, up 0.39% in the most recent trading session. Over the past 52 weeks, the stock has traded between a low of $142.11 and a high of $190.98. The current price represents 45% of its 52-week range, which helps investors gauge where the stock sits relative to its recent trading history.

Is PM rated a buy or sell by analysts?

Among 27 analysts covering PM, the consensus rating is Buy — 18 rate it a buy, 9 hold, and 0 sell. The average price target sits at $377.36, implying 130% upside from the current price. Keep in mind that analyst targets reflect 12-month expectations and can shift quickly after earnings reports or major company events.

What are Philip Morris International's earnings?

Philip Morris International generated $40.58B in revenue during fiscal year 2026, with $11.33B reaching the bottom line as net income. The net profit margin of 27.9% is strong by most industry standards.

How is PM valued compared to earnings?

PM trades at a P/E ratio of 25.17 on trailing earnings of $7.28 per share. That's roughly in line with the broader market average of ~20-25x. Comparing this multiple against Tobacco sector peers gives better context than the broad market alone, since P/E norms vary significantly across industries.

What is PM's return over the past year?

Performance varies across timeframes, reflecting shifting market conditions. Returns by timeframe: +1.75% (3M), -0.62% (6M), +7.66% (1Y), +2.23% (YTD). Comparing these figures against the S&P 500 and sector benchmarks helps determine whether PM is outperforming or lagging the broader market.