Philip Morris International (PM)
Consumer Staples · Tobacco and smoke-free nicotine products
Global tobacco and smoke-free products leader pivoting to a portfolio of cigarettes, heat-not-burn devices (IQOS), nicotine pouches (ZYN), and e-vapor with over $16 billion invested in innovation since 2008.
What Philip Morris International does
Philip Morris International is a leading international consumer goods company that manufactures and sells cigarettes and smoke-free products including heat-not-burn devices (IQOS), nicotine pouches (primarily ZYN via the Swedish Match acquisition), and e-vapor products. The company has invested over $16 billion since 2008 to develop, scientifically substantiate, and commercialize innovative smoke-free products for adults as part of its strategy to deliver a smoke-free future and evolve beyond traditional tobacco. PMI operates globally with products sold in numerous international markets and has obtained FDA authorizations for IQOS devices, ZYN nicotine pouches, and General snus, including first-ever Modified Risk Tobacco Product (MRTP) authorizations in their respective categories.
Themes: ["Smoke-free transition","Nicotine delivery innovation","Oral nicotine products","FDA-authorized products","MRTP authorization","Heat-not-burn technology","Portfolio diversification beyond tobacco","Cannabinoid research","Adult consumer switching"]
Fundamentals
- Price$181.17 as of 2026-07-09 close
- Market cap$283.1B as of 2026-07-10
- 1-year return+1.8% as of 2026-07-09 close
- P/E25.51 as of 2026-07-10
- Net margin+26.7% as of 2026-07-10
- Gross margin+67.3% as of 2026-07-10
- ROE+575.4% as of 2026-07-10
- Debt / equity186.08 as of 2026-07-10
- Revenue growth (YoY)+8.1% as of 2026-07-10
- Revenue CAGR (3y)+8.6% SEC XBRL
- Beta0.42 as of 2026-07-10
Dividend: yield +3.2%; 5-year non-decreasing per-share dividend streak (SEC XBRL).
Key risks (from latest filing)
["Counterfeiting and illicit trade of cigarettes and smoke-free products, particularly Marlboro, could materially adversely affect revenues and reputation","Intellectual property disputes and inadequate IP protection in global markets could impede product development and commercialization of smoke-free products","Regulatory and legal risks associated with cannabinoid product research and commercialization in an evolving legal landscape could result in criminal, civil, or tax liability"]
Competitors & peers
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.