P

Philip Morris International Inc.

PM · CIK 0001413329

19 fiscal years · 68 SEC filings · every number carries its receipt

Revenue (FY)
$40.65B7.3%
FY2025
Net income (FY)
$11.35B60.8%
FY2025
Free cash flow (FY)
$10.66B1.0%
FY2025
Diluted EPS (FY)
$7.2660.6%
FY2025
The story, charted

The shape of the business

FY2007–FY2025 · hover any year for its receipt
Revenue & net incomeRevenueNet income
$0$50BFY2007 · Revenue $55.24B · Net income $6.04B · 0001193125-10-041735 · filed 2010-02-26FY07Revenue $55.24BNet income $6.04B0001193125-10-041735 · filed 2010-02-26FY2008 · Revenue $63.64B · Net income $6.89B · 0001193125-11-046772 · filed 2011-02-25FY08Revenue $63.64BNet income $6.89B0001193125-11-046772 · filed 2011-02-25FY2009 · Revenue $62.08B · Net income $6.34B · 0001193125-12-076983 · filed 2012-02-24FY09Revenue $62.08BNet income $6.34B0001193125-12-076983 · filed 2012-02-24FY2010 · Revenue $67.71B · Net income $7.26B · 0001413329-13-000019 · filed 2013-02-22FY10Revenue $67.71BNet income $7.26B0001413329-13-000019 · filed 2013-02-22FY2011 · Revenue $76.35B · Net income $8.59B · 0001413329-14-000012 · filed 2014-02-21FY11Revenue $76.35BNet income $8.59B0001413329-14-000012 · filed 2014-02-21FY2012 · Revenue $77.39B · Net income $8.80B · 0001413329-15-000016 · filed 2015-02-20FY12Revenue $77.39BNet income $8.80B0001413329-15-000016 · filed 2015-02-20FY2013 · Revenue $80.03B · Net income $8.58B · 0001413329-16-000076 · filed 2016-02-17FY13Revenue $80.03BNet income $8.58B0001413329-16-000076 · filed 2016-02-17FY2014 · Revenue $80.11B · Net income $7.49B · 0001413329-17-000014 · filed 2017-02-14FY14Revenue $80.11BNet income $7.49B0001413329-17-000014 · filed 2017-02-14FY2015 · Revenue $73.91B · Net income $6.87B · 0001413329-18-000007 · filed 2018-02-13FY15Revenue $73.91BNet income $6.87B0001413329-18-000007 · filed 2018-02-13FY2016 · Revenue $26.68B · Net income $6.97B · 0001413329-19-000007 · filed 2019-02-07FY16Revenue $26.68BNet income $6.97B0001413329-19-000007 · filed 2019-02-07FY2017 · Revenue $28.75B · Net income $6.04B · 0001413329-20-000007 · filed 2020-02-07FY17Revenue $28.75BNet income $6.04B0001413329-20-000007 · filed 2020-02-07FY2018 · Revenue $29.63B · Net income $7.91B · 0001413329-21-000007 · filed 2021-02-09FY18Revenue $29.63BNet income $7.91B0001413329-21-000007 · filed 2021-02-09FY2019 · Revenue $29.80B · Net income $7.18B · 0001413329-22-000011 · filed 2022-02-11FY19Revenue $29.80BNet income $7.18B0001413329-22-000011 · filed 2022-02-11FY2020 · Revenue $28.69B · Net income $8.06B · 0001413329-23-000025 · filed 2023-02-10FY20Revenue $28.69BNet income $8.06B0001413329-23-000025 · filed 2023-02-10FY2021 · Revenue $31.41B · Net income $9.11B · 0001413329-24-000013 · filed 2024-02-08FY21Revenue $31.41BNet income $9.11B0001413329-24-000013 · filed 2024-02-08FY2022 · Revenue $31.76B · Net income $9.05B · 0001413329-25-000013 · filed 2025-02-06FY22Revenue $31.76BNet income $9.05B0001413329-25-000013 · filed 2025-02-06FY2023 · Revenue $35.17B · Net income $7.81B · 0001628280-26-005939 · filed 2026-02-06FY23Revenue $35.17BNet income $7.81B0001628280-26-005939 · filed 2026-02-06FY2024 · Revenue $37.88B · Net income $7.06B · 0001628280-26-005939 · filed 2026-02-06FY24Revenue $37.88BNet income $7.06B0001628280-26-005939 · filed 2026-02-06FY2025 · Revenue $40.65B · Net income $11.35B · 0001628280-26-005939 · filed 2026-02-06FY25Revenue $40.65BNet income $11.35B0001628280-26-005939 · filed 2026-02-06FY25Revenue $40.65BNet income $11.35B0001628280-26-005939 · filed 2026-02-06FY07FY10FY13FY16FY19FY22FY25

net margin 10.9% → 27.9%

MarginsNet marginFCF margin
0%10%20%30%FY2007 · Net margin 10.9% · FCF margin 8.1%FY07Net margin 10.9%FCF margin 8.1%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2008 · Net margin 10.8% · FCF margin 10.7%FY08Net margin 10.8%FCF margin 10.7%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2009 · Net margin 10.2% · FCF margin 11.5%FY09Net margin 10.2%FCF margin 11.5%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2010 · Net margin 10.7% · FCF margin 12.9%FY10Net margin 10.7%FCF margin 12.9%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2011 · Net margin 11.3% · FCF margin 12.6%FY11Net margin 11.3%FCF margin 12.6%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2012 · Net margin 11.4% · FCF margin 10.8%FY12Net margin 11.4%FCF margin 10.8%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2013 · Net margin 10.7% · FCF margin 11.2%FY13Net margin 10.7%FCF margin 11.2%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2014 · Net margin 9.4% · FCF margin 8.2%FY14Net margin 9.4%FCF margin 8.2%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2015 · Net margin 9.3% · FCF margin 9.3%FY15Net margin 9.3%FCF margin 9.3%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2016 · Net margin 26.1% · FCF margin 25.9%FY16Net margin 26.1%FCF margin 25.9%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2017 · Net margin 21.0% · FCF margin 25.6%FY17Net margin 21.0%FCF margin 25.6%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2018 · Net margin 26.7% · FCF margin 27.1%FY18Net margin 26.7%FCF margin 27.1%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2019 · Net margin 24.1% · FCF margin 31.0%FY19Net margin 24.1%FCF margin 31.0%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2020 · Net margin 28.1% · FCF margin 32.1%FY20Net margin 28.1%FCF margin 32.1%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2021 · Net margin 29.0% · FCF margin 35.7%FY21Net margin 29.0%FCF margin 35.7%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2022 · Net margin 28.5% · FCF margin 30.6%FY22Net margin 28.5%FCF margin 30.6%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2023 · Net margin 22.2% · FCF margin 22.4%FY23Net margin 22.2%FCF margin 22.4%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2024 · Net margin 18.6% · FCF margin 28.4%FY24Net margin 18.6%FCF margin 28.4%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2025 · Net margin 27.9% · FCF margin 26.2%FY25Net margin 27.9%FCF margin 26.2%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY25Net margin 27.9%FCF margin 26.2%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenue’09’13’17’21’25

FY2025: net 27.9% · free cash flow 26.2% of revenue

Cash engineOperating cash flowFree cash flow
$0$5B$10BFY2007 · OCF $5.55B · FCF $4.48B · 0001193125-10-041735 · filed 2010-02-26FY07OCF $5.55BFCF $4.48B0001193125-10-041735 · filed 2010-02-26FY2008 · OCF $7.93B · FCF $6.84B · 0001193125-11-046772 · filed 2011-02-25FY08OCF $7.93BFCF $6.84B0001193125-11-046772 · filed 2011-02-25FY2009 · OCF $7.88B · FCF $7.17B · 0001193125-12-076983 · filed 2012-02-24FY09OCF $7.88BFCF $7.17B0001193125-12-076983 · filed 2012-02-24FY2010 · OCF $9.44B · FCF $8.72B · 0001413329-13-000019 · filed 2013-02-22FY10OCF $9.44BFCF $8.72B0001413329-13-000019 · filed 2013-02-22FY2011 · OCF $10.53B · FCF $9.63B · 0001413329-14-000012 · filed 2014-02-21FY11OCF $10.53BFCF $9.63B0001413329-14-000012 · filed 2014-02-21FY2012 · OCF $9.42B · FCF $8.37B · 0001413329-15-000016 · filed 2015-02-20FY12OCF $9.42BFCF $8.37B0001413329-15-000016 · filed 2015-02-20FY2013 · OCF $10.13B · FCF $8.94B · 0001413329-16-000076 · filed 2016-02-17FY13OCF $10.13BFCF $8.94B0001413329-16-000076 · filed 2016-02-17FY2014 · OCF $7.74B · FCF $6.59B · 0001413329-17-000014 · filed 2017-02-14FY14OCF $7.74BFCF $6.59B0001413329-17-000014 · filed 2017-02-14FY2015 · OCF $7.87B · FCF $6.91B · 0001413329-18-000007 · filed 2018-02-13FY15OCF $7.87BFCF $6.91B0001413329-18-000007 · filed 2018-02-13FY2016 · OCF $8.08B · FCF $6.91B · 0001413329-19-000007 · filed 2019-02-07FY16OCF $8.08BFCF $6.91B0001413329-19-000007 · filed 2019-02-07FY2017 · OCF $8.91B · FCF $7.36B · 0001413329-20-000007 · filed 2020-02-07FY17OCF $8.91BFCF $7.36B0001413329-20-000007 · filed 2020-02-07FY2018 · OCF $9.48B · FCF $8.04B · 0001413329-21-000007 · filed 2021-02-09FY18OCF $9.48BFCF $8.04B0001413329-21-000007 · filed 2021-02-09FY2019 · OCF $10.09B · FCF $9.24B · 0001413329-22-000011 · filed 2022-02-11FY19OCF $10.09BFCF $9.24B0001413329-22-000011 · filed 2022-02-11FY2020 · OCF $9.81B · FCF $9.21B · 0001413329-23-000025 · filed 2023-02-10FY20OCF $9.81BFCF $9.21B0001413329-23-000025 · filed 2023-02-10FY2021 · OCF $11.97B · FCF $11.22B · 0001413329-24-000013 · filed 2024-02-08FY21OCF $11.97BFCF $11.22B0001413329-24-000013 · filed 2024-02-08FY2022 · OCF $10.80B · FCF $9.73B · 0001413329-25-000013 · filed 2025-02-06FY22OCF $10.80BFCF $9.73B0001413329-25-000013 · filed 2025-02-06FY2023 · OCF $9.20B · FCF $7.88B · 0001628280-26-005939 · filed 2026-02-06FY23OCF $9.20BFCF $7.88B0001628280-26-005939 · filed 2026-02-06FY2024 · OCF $12.22B · FCF $10.77B · 0001628280-26-005939 · filed 2026-02-06FY24OCF $12.22BFCF $10.77B0001628280-26-005939 · filed 2026-02-06FY2025 · OCF $12.23B · FCF $10.66B · 0001628280-26-005939 · filed 2026-02-06FY25OCF $12.23BFCF $10.66B0001628280-26-005939 · filed 2026-02-06FY25OCF $12.23BFCF $10.66B0001628280-26-005939 · filed 2026-02-06’09’13’17’21’25

FY2025: $12.23B operating cash − $1.57B capex = $10.66B free cash flow

Returns on capitalReturn on equityReturn on assets
0%2000%4000%FY2008 · ROE 91.9% · ROA 20.9%FY08ROE 91.9%ROA 20.9%derived: net income ÷ equity · derived: net income ÷ assetsFY2009 · ROE 111.0% · ROA 18.4%FY09ROE 111.0%ROA 18.4%derived: net income ÷ equity · derived: net income ÷ assetsFY2010 · ROE 207.0% · ROA 20.7%FY10ROE 207.0%ROA 20.7%derived: net income ÷ equity · derived: net income ÷ assetsFY2011 · ROE 3751.5% · ROA 24.2%FY11ROE 3751.5%ROA 24.2%derived: net income ÷ equity · derived: net income ÷ assetsFY2012 · ROE -253.2% · ROA 23.4%FY12ROE -253.2%ROA 23.4%derived: net income ÷ equity · derived: net income ÷ assetsFY2013 · ROE -110.4% · ROA 22.5%FY13ROE -110.4%ROA 22.5%derived: net income ÷ equity · derived: net income ÷ assetsFY2014 · ROE -59.3% · ROA 21.3%FY14ROE -59.3%ROA 21.3%derived: net income ÷ equity · derived: net income ÷ assetsFY2015 · ROE -51.9% · ROA 20.2%FY15ROE -51.9%ROA 20.2%derived: net income ÷ equity · derived: net income ÷ assetsFY2016 · ROE -54.9% · ROA 18.9%FY16ROE -54.9%ROA 18.9%derived: net income ÷ equity · derived: net income ÷ assetsFY2017 · ROE -49.9% · ROA 14.0%FY17ROE -49.9%ROA 14.0%derived: net income ÷ equity · derived: net income ÷ assetsFY2018 · ROE -63.5% · ROA 19.9%FY18ROE -63.5%ROA 19.9%derived: net income ÷ equity · derived: net income ÷ assetsFY2019 · ROE -62.1% · ROA 16.8%FY19ROE -62.1%ROA 16.8%derived: net income ÷ equity · derived: net income ÷ assetsFY2020 · ROE -64.1% · ROA 18.0%FY20ROE -64.1%ROA 18.0%derived: net income ÷ equity · derived: net income ÷ assetsFY2021 · ROE -90.1% · ROA 22.1%FY21ROE -90.1%ROA 22.1%derived: net income ÷ equity · derived: net income ÷ assetsFY2022 · ROE -101.0% · ROA 14.7%FY22ROE -101.0%ROA 14.7%derived: net income ÷ equity · derived: net income ÷ assetsFY2023 · ROE -69.6% · ROA 12.0%FY23ROE -69.6%ROA 12.0%derived: net income ÷ equity · derived: net income ÷ assetsFY2024 · ROE -60.1% · ROA 11.4%FY24ROE -60.1%ROA 11.4%derived: net income ÷ equity · derived: net income ÷ assetsFY2025 · ROE -113.5% · ROA 16.4%FY25ROE -113.5%ROA 16.4%derived: net income ÷ equity · derived: net income ÷ assetsFY25ROE -113.5%ROA 16.4%derived: net income ÷ equity · derived: net income ÷ assets’09’13’17’21’25

return on equity 92% (FY2008) → -114% (FY2025) · on assets 16.4%

Balance sheetLiabilitiesEquity
$0$50BFY2008 · Liabilities $25.07B · Equity $7.50BFY08Liabilities $25.07BEquity $7.50B0001193125-10-041735 · filed 2010-02-26FY2009 · Liabilities $28.41B · Equity $5.72BFY09Liabilities $28.41BEquity $5.72B0001193125-11-046772 · filed 2011-02-25FY2010 · Liabilities $29.93B · Equity $3.51BFY10Liabilities $29.93BEquity $3.51B0001193125-12-076983 · filed 2012-02-24FY2011 · Liabilities $33.73B · Equity $229.0MFY11Liabilities $33.73BEquity $229.0M0001413329-13-000019 · filed 2013-02-22FY2012 · Liabilities $39.52B · Equity −$3.48BFY12Liabilities $39.52BEquity −$3.48B0001413329-14-000012 · filed 2014-02-21FY2013 · Liabilities $44.44B · Equity −$7.77BFY13Liabilities $44.44BEquity −$7.77B0001413329-15-000016 · filed 2015-02-20FY2014 · Liabilities $46.39B · Equity −$12.63BFY14Liabilities $46.39BEquity −$12.63B0001413329-16-000076 · filed 2016-02-17FY2015 · Liabilities $45.43B · Equity −$13.24BFY15Liabilities $45.43BEquity −$13.24B0001413329-17-000014 · filed 2017-02-14FY2016 · Liabilities $47.75B · Equity −$12.69BFY16Liabilities $47.75BEquity −$12.69B0001413329-18-000007 · filed 2018-02-13FY2017 · Liabilities $53.20B · Equity −$12.09BFY17Liabilities $53.20BEquity −$12.09B0001413329-19-000007 · filed 2019-02-07FY2018 · Liabilities $50.54B · Equity −$12.46BFY18Liabilities $50.54BEquity −$12.46B0001413329-20-000007 · filed 2020-02-07FY2019 · Liabilities $52.47B · Equity −$11.58BFY19Liabilities $52.47BEquity −$11.58B0001413329-21-000007 · filed 2021-02-09FY2020 · Liabilities $55.45B · Equity −$12.57BFY20Liabilities $55.45BEquity −$12.57B0001413329-22-000011 · filed 2022-02-11FY2021 · Liabilities $49.50B · Equity −$10.11BFY21Liabilities $49.50BEquity −$10.11B0001413329-23-000025 · filed 2023-02-10FY2022 · Liabilities $67.99B · Equity −$8.96BFY22Liabilities $67.99BEquity −$8.96B0001413329-24-000013 · filed 2024-02-08FY2023 · Liabilities $74.75B · Equity −$11.22BFY23Liabilities $74.75BEquity −$11.22B0001413329-25-000013 · filed 2025-02-06FY2024 · Liabilities $71.65B · Equity −$11.75BFY24Liabilities $71.65BEquity −$11.75B0001628280-26-005939 · filed 2026-02-06FY2025 · Liabilities $77.21B · Equity −$9.99BFY25Liabilities $77.21BEquity −$9.99B0001628280-26-005939 · filed 2026-02-06FY25Liabilities $77.21BEquity −$9.99B0001628280-26-005939 · filed 2026-02-06’09’13’17’21’25

FY2025: $69.19B assets · $77.21B liabilities · −$9.99B equity

The receipts

Financial statements

USD in millions except per-share and share counts. Every value links to the filing it came from — hover for the us-gaap tag, click for the 10-K/10-Q on sec.gov.

Figures as reported in SEC filings, normalized by stonks with the tag mapping shown on hover; missing tags render as “—”, never as zero. Free cash flow is derived (operating cash flow − capex) with both parents recorded in its lineage. Quarterly view shows as-reported 10-Q periods; Q4 synthesis ships in Phase 1. See methodology.