PM
Philip Morris International Inc.
Consumer Staples • CIK: 0001413329
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Market Cap
$249.66B
P/E (TTM)
22.1x
Rev Growth (TTM)
+7.3%
Net Margin (TTM)
27.8%
FCF Yield (TTM)
4.3%
FCF Margin (TTM)
26.2%
Cash Flow Health
Free Cash Flow6/8 positive
TTM$10.7B
Q4 '25
$4.3B+4%
Q3 '25
$4.1B+34%
FCF Margin
TTM26.2%
Q4 '2541.2%+9%
Sector: 6.9%Top 10%
OCF Margin30.1%
OCF/NI1.08x
CapEx Coverage7.8x
FCF Yield4.3%
FCF Growth (2Y)+3%
Cash Conversion Cycle
219 days
DSO: 42+DIO: 284−DPO: 108
Capital Allocation & Returns
Balanced
Total Shareholder YieldEst.
Est.3.5%
Div Yield3.5%
+Est. Buyback0.5%
Balancing returns with reinvestment
Dividend & Payout Metrics
Dividend Yield (TTM)3.5%
FCF Payout Ratio82.3%
Free Cash Flow (TTM)$10.7B
Capital Return / FCF80.9%
Est. Dividends Paid (TTM)$8.8B
Estimated: Buyback data estimated from FCF. Actual repurchase data not available for this company.
Shows how management rewards shareholders
Operational Efficiency & Returns
Return on Invested CapitalTTM
36.5%
Moderate
+0.4% YoY+8.7%
P25MedianP75
75th pctl (med: 0.1%)
DuPont BreakdownROIC = Margin × Turn × (1+D/E)
NOPAT Margin
29.4%
8Q: 28.4%
Asset Turnover
0.61x
8Q: 0.60x
Leverage (1+D/E)
-3.53x
D/E: -4.53x
DuPont: -63.5% ≈ 36.5% ROIC
Asset & CapEx Efficiency
Fixed Asset Turn
5.15x
8Q:5.22x
+14.2%
Invested Cap Turn
1.26x
8Q:1.18x
+15.4%
CapEx Intensity
4.9%
8Q:4.6%
CapEx/Depreciation
0.79x
Asset-based ROIC formula
QUARTERLY TRENDS
Last 8 quarters + TTM
| Metric | TTM | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 |
|---|---|---|---|---|---|---|---|---|---|
Revenue | $40.6B | $10.4B↓4.5% | $10.8B↑7.0% | $10.1B↑9.0% | $9.3B↓4.2% | $9.7B↓2.1% | $9.9B↑4.7% | $9.5B↑7.7% | $8.8B |
Operating Income | $14.9B | $3.4B↓20.9% | $4.3B↑14.8% | $3.7B↑4.7% | $3.5B↑8.7% | $3.3B↓10.8% | $3.7B↑6.1% | $3.4B | $0 |
Net Income | $11.3B | $2.1B↓38.4% | $3.5B↑14.4% | $3.0B↑13.0% | $2.7B↑562.4% | $-580.0M↓118.9% | $3.1B↑28.1% | $2.4B↑12.0% | $2.1B |
Operating Cash Flow | $12.2B | $4.7B↑5.5% | $4.5B↑30.8% | $3.4B↑1074.9% | $-350.0M↓108.7% | $4.0B↑19.7% | $3.3B↓27.8% | $4.6B↑1822.0% | $241.0M |
Free Cash Flow | $10.7B | $4.3B↑4.1% | $4.1B↑34.1% | $3.1B↑505.3% | $-754.0M↓120.2% | $3.7B↑25.7% | $3.0B↓30.5% | $4.3B↑2521.6% | $-176.0M |
Total Equity | N/A |
Valuation Analysis
Fair Value
Price-to-EarningsTTM
22.1x
Volatile
8Q: 69.6x+7528%
Valuation Lenses
Earnings
22.1x
vs – sector
Cash Flow
27.1x
EV/FCF vs –
Growth-Adj
0.4xPEG
Undervalued for growth
Quality-Adj
0.6P/E per %ROIC
ROIC: 36.5%
Shareholder Returns
Dividend
3.5%
Buyback
–
Total Yield
3.5%
Market Cap$249.66B
EV$289.28B
Multi-angle valuation analysis with sector context
Business Quality & Moat
Overall Quality Score
-13/100
Below Average
Composite score: Returns (40%) + Consistency (30%) + Earnings Quality (30%)
Returns on Capital
Return on Equity (ROE)Top 10%
-1.0%
8Q:–
Return on Invested Capital (ROIC)Top 25%
36.5%
8Q:–
+8.7%
vs Sector:0.1%
DuPont Analysis (ROIC = NOPAT Margin × Asset Turnover)
NOPAT Margin: 29.4%
Asset Turnover: 0.61x
Earnings Quality
Cash Conversion
1.08x
OCF / Net Income ✓
FCF Consistency
–
Positive quarters
Competitive Moat Indicators
Pricing Power
Gross Margin67.1%
Capital Efficiency
Invested Capital Turnover1.26x
Working Capital
Cash Conversion Cycle219 days
Growth Quality & Momentum
Moderate Growth
Growth Quality Score
59/100
Growth 40%
Margins 30%
FCF 20%
Consistency 10%
Growth Rates
Revenue Growth YoY
7.3%
OpInc Growth YoY
3.5%
EPS Growth YoY
60.8%
FCF 3Y CAGR
3.1%
Margin Quality & Sustainability
High Quality
Profitability Cascade
Gross
67.1%
Operating
36.6%
Top 25% in sector
Net
27.8%
Margins Unknown
Earnings Quality Signals
SBC / Revenue
—
FCF vs Net Gap
-1.6 pts
FCF: 26.2% | Net: 27.8%
Quality = stability + cash conversion + low dilution
Balance Sheet & Solvency
Solid
Net Debt / EBITDA
–Net Debt: $40.41B
Interest Coverage
–
Leverage Metrics
Debt-to-Equity
-4.53x
Balance sheet risk & solvency analysis