Philip Morris International Inc

Philip Morris International Inc

PM

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Market Cap$297.41B
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Compare to Similar Companies

P/E RatioDividendsReturn on EquityPrice-to-SalesDebt-to-Equity
Philip Morris International IncPhilip Morris International Inc27.43.08%-129%7.1-4.7

Earnings Call Q2 2026

July 22, 2026 - AI Summary

Strong Q2 + H1 performance (beat expectations) - Q2: +8% organic net revenue and +11% organic operating income; adjusted diluted EPS +15% (to $2.20). - Q2 net revenues: crossed $11B for the first time; adjusted operating income $4.8B. - H1: +5.3% organic net revenue and +6.1% organic adjusted operating income; adjusted diluted EPS $4.16 (+9.4% organic, +15.6% USD). - Notable “surprise/positive” EPS driver: part of the EPS outperformance came from an unrealized transactional FX effect tied to deferred tax liability (Russian ruble); plus some SG&A phasing (Q2 -> Q3) and strong combustible performance.
Smoke-Free momentum remains the engine (and is expanding profitability) - International dominates: 93% of H1 group net revenues. - Smoke-Free in H1: +13.7% organic net revenue and +16.9% gross profit; gross margin +190 bps to 70%. - Q2 Smoke-Free: +6.4% net revenue, +8% gross profit (pricing + volume + favorable mix). - IQOS: adjusted in-market sales volume +5.1% in Q2 and +5.4% in H1 (despite Japan/Pose-up headwinds); global share in heat-not-burn ~76% in H1. - E-vapor (VEEV): very strong—+55% shipments in Q2 and +72% in H1; described as the #1 brand in Europe (closed pod and combined) and #1 in global travel retail where present.
Combustibles were better than expected, but mix/volume is a key watch item (negative) - Q2 combustible performance: pricing + strong momentum; pricing variance expected to be >7% full-year (vs prior assumptions), but annualization + unfavorable geographic mix expected in H2. - Cigarettes volume expectation moderated: due to Q2 strength and latest industry dynamics, PMI now expects cigarette volume decline ~2%–3% (previously ~3%). - H1 cigarette volumes: -1.9% overall; Q2 cigarette shipments +1.1% ahead of expectation due to timing/comparisons and certain market dynamics. - Bad/structural challenge: industry volume decline in more developed markets and mix effects continue to pressure net revenue growth even when pricing is strong.

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$202.91

Target Price by Analysts

6.3% upsidePhilip Morris International Target Price DetailsTarget Price
$212.56

Current Fair Value

11.4% upside

Undervalued by 11.4% based on the discounted cash flow analysis.

Share Statistics

Market cap$297.41 Billion
Enterprise Value$331.98 Billion
Dividend Yield$5.88 (3.08%)
Earnings per Share$7.27
Beta0.41
Outstanding Shares1,562,820,513

Return

Return on Equity-128.70%ROE
Return on Assets16.18%
Return on Invested Capital40.36%

Valuation & Multiples

P/E Ratio27.42P/E Ratio
PEG-388.32PEG
Price to Sales7.07Price to Sales
Price to Book Ratio-38.16Price to Book Ratio
Enterprise Value to Revenue7.8
Enterprise Value to EBIT19.71
Enterprise Value to Net Income30
Total Debt to Enterprise0.12
Debt to Equity-4.73Debt to Equity

Revenue Sources

No data

Insider Trades

Last Earnings Call

Report Date
July 28, 2026
EPS Estimate
$2.12
Average shareholder expectation
Revenue Estimate
$10.67 B
Average shareholder expectation

Next Earnings Call

Expected Date
October 20, 2026
EPS Estimate
$2.38
Average shareholder expectation
Revenue Estimate
$11.47 B
Average shareholder expectation

Institutional Put/Call Ratio

Market sentiment based on institutional option activity.

Put/Call Ratio1.8750▲ 87.80%
Total Calls5,600▼ 99.90%
Total Puts10,500▼ 99.81%

Institutional Ownership

Holdings and activity of institutional investors.

Ownership %4.04%▼ 78.92%
Total Invested$10.34B▼ 95.17%
Investors Holding1,403▼ 1531.00%

ESG Score

No data

About Philip Morris International Inc

CEO: Andre Calantzopoulos

Relevant Senate Committees

Joint Committee on Taxation

Provides crucial analysis and scoring for tax legislation, directly shaping corporate tax policy and the overall tax burden on a company like PM.

Finance

Has direct control over corporate taxation, which significantly impacts PM's profitability, and trade policy, which is critical for its global operations and supply chains.

Health, Education, Labor, and Pensions

Directly oversees the FDA, which is a primary regulator for tobacco products, impacting product development, marketing, and sales, making it critically important for PM.

Judiciary

Has jurisdiction over antitrust laws, which can affect market concentration and mergers in the tobacco industry, and intellectual property protection, vital for PM's brands and product innovations.

Foreign Relations

PM operates globally; committee actions on sanctions, trade agreements, and foreign policy can directly impact its international markets, supply chains, and profitability.