Philip Morris International Inc. (SWX: PMI)

PMI Income Statement

Financials in millions USD. Fiscal year is January - December.

Fiscal Year	TTM	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019
Period Ending	Jun 30, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Revenue	36,449	35,174	31,762	31,405	28,694	29,805
Revenue Growth (YoY)	9.89%	10.74%	1.14%	9.45%	-3.73%	0.61%
Cost of Revenue	13,170	12,878	11,228	10,030	9,569	10,513
Gross Profit	23,279	22,296	20,534	21,375	19,125	19,292
Selling, General & Admin	10,500	9,599	7,990	8,299	7,405	8,168
Operating Expenses	10,475	9,599	7,990	8,299	7,405	8,234
Operating Income	12,804	12,697	12,544	13,076	11,720	11,058
Interest Expense	-1,595	-1,526	-768	-737	-728	-796
Interest & Investment Income	465	465	180	109	110	226
Earnings From Equity Investments	479	157	137	149	16	149
EBT Excluding Unusual Items	12,593	11,793	12,093	12,597	11,118	10,637
Merger & Restructuring Charges	-150	-109	-59	-216	-149	-422
Impairment of Goodwill	-	-665	-	-	-	-
Asset Writedown	-27	-15	-112	-	-	-
Legal Settlements	-204	-204	-	-	-	-194
Other Unusual Items	-193	-193	-151	-	-	-
Pretax Income	12,019	10,607	11,771	12,381	10,969	10,021
Income Tax Expense	2,761	2,339	2,244	2,671	2,377	2,293
Earnings From Continuing Operations	9,258	8,268	9,527	9,710	8,592	7,728
Minority Interest in Earnings	-454	-455	-479	-601	-536	-543
Net Income	8,804	7,813	9,048	9,109	8,056	7,185
Preferred Dividends & Other Adjustments	25	22	24	26	20	17
Net Income to Common	8,779	7,791	9,024	9,083	8,036	7,168
Net Income Growth	9.41%	-13.65%	-0.67%	13.07%	12.12%	-9.18%
Shares Outstanding (Basic)	1,553	1,552	1,550	1,558	1,557	1,555
Shares Outstanding (Diluted)	1,555	1,553	1,552	1,559	1,558	1,556
Shares Change (YoY)	0.13%	0.06%	-0.45%	0.06%	0.13%	0.06%
EPS (Basic)	5.65	5.02	5.82	5.83	5.16	4.61
EPS (Diluted)	5.65	5.02	5.81	5.83	5.16	4.61
EPS Growth	9.29%	-13.60%	-0.34%	12.98%	11.94%	-9.21%
Free Cash Flow	10,121	7,883	9,726	11,219	9,210	9,238
Free Cash Flow Per Share	6.51	5.08	6.27	7.20	5.91	5.94
Dividend Per Share	5.200	5.140	5.040	4.900	4.740	4.620
Dividend Growth	2.36%	1.98%	2.86%	3.38%	2.60%	2.90%
Gross Margin	63.87%	63.39%	64.65%	68.06%	66.65%	64.73%
Operating Margin	35.13%	36.10%	39.49%	41.64%	40.84%	37.10%
Profit Margin	24.09%	22.15%	28.41%	28.92%	28.01%	24.05%
Free Cash Flow Margin	27.77%	22.41%	30.62%	35.72%	32.10%	30.99%
EBITDA	14,414	14,095	13,621	14,074	12,701	12,022
EBITDA Margin	39.55%	40.07%	42.88%	44.81%	44.26%	40.34%
D&A For EBITDA	1,610	1,398	1,077	998	981	964
EBIT	12,804	12,697	12,544	13,076	11,720	11,058
EBIT Margin	35.13%	36.10%	39.49%	41.64%	40.84%	37.10%
Effective Tax Rate	22.97%	22.05%	19.06%	21.57%	21.67%	22.88%
Revenue as Reported	-	-	-	-	28,694	29,805
Advertising Expenses	-	965	777	807	637	730

Source: S&P Capital IQ. Standard template. Financial Sources.