Altria (MO)
Consumer Staples · Tobacco products manufacturing and distribution
The largest U.S. cigarette manufacturer and leading tobacco company, generating 34% net margins through Marlboro and diversified tobacco products spanning combustible, oral, and e-vapor categories.
What Altria does
Altria Group manufactures and markets tobacco products across multiple categories in the United States. The company operates through PM USA (cigarettes), Middleton (machine-made cigars), USSTC (moist snuff and oral nicotine pouches), and NJOY (e-vapor products). Its flagship brand Marlboro remains the largest-selling cigarette brand in the U.S. with over 50 years of market leadership. The company is also developing heated tobacco system (HTS) products through a joint venture with Japan Tobacco.
Themes: ["Traditional tobacco","Combustible cigarettes","Reduced-risk alternatives (oral nicotine, e-vapor, HTS)","Dividend and shareholder returns","Brand heritage and loyalty","Regulatory compliance and FDA oversight"]
Fundamentals
- Price$71.59 as of 2026-07-09 close
- Market cap$121.1B as of 2026-07-10
- 1-year return+24.0% as of 2026-07-09 close
- P/E15.03 as of 2026-07-10
- Net margin+34.3% as of 2026-07-10
- Gross margin+63.0% as of 2026-07-10
- ROE+149.7% as of 2026-07-10
- Debt / equity8.67 as of 2026-07-10
- Revenue growth (YoY)-1.1% as of 2026-07-10
- Revenue CAGR (3y)-2.5% SEC XBRL
- Beta0.51 as of 2026-07-10
Dividend: yield +5.9%; 5-year non-decreasing per-share dividend streak (SEC XBRL).
Key risks (from latest filing)
["Declining cigarette shipment volumes (10.0% decline in 2025) driven by falling smoking rates and regulatory pressures","FDA and regulatory restrictions on products, including ITC exclusion orders on NJOY ACE limiting importation and sales","Settlement charges and litigation liabilities related to past tobacco litigation and ongoing regulatory compliance costs"]
Competitors & peers
- Philip Morris International (PM)
- British American Tobacco (BTI)
- Japan Tobacco (2914.T)
- Vector Group (VGR)
Fundamentals: Finnhub, as of 2026-07-10. Filings: SEC EDGAR. Prices are delayed daily-close data.
Last updated 2026-07-09.
Informational only — NOT financial advice. All figures are delayed daily-close data from SEC EDGAR & Finnhub, shown with their as-of date.