Philip Morris International Inc. (PM)

PM Income Statement

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

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Revenue	40,648	37,878	35,174	31,762	31,405
Revenue Growth (YoY)	7.31%	7.69%	10.74%	1.14%	9.45%
Cost of Revenue	13,366	13,329	12,893	11,103	10,030
Gross Profit	27,282	24,549	22,281	20,659	21,375
Selling, General & Admin	10,556	11,334	9,051	7,851	8,299
Operating Expenses	10,556	11,334	9,051	7,851	8,299
Operating Income	16,726	13,215	13,230	12,808	13,076
Interest Expense	-1,587	-1,763	-1,526	-768	-737
Interest & Investment Income	621	620	465	180	109
Earnings From Equity Investments	705	637	157	137	149
Currency Exchange Gain (Loss)	-1,557	578	-548	-139	-
EBT Excluding Unusual Items	14,908	13,287	11,778	12,218	12,597
Merger & Restructuring Charges	-241	-180	-109	-184	-216
Impairment of Goodwill	-41	-	-665	-	-
Gain (Loss) on Sale of Investments	-	-2,316	-	-	-
Gain (Loss) on Sale of Assets	-	-1	-	-	-
Asset Writedown	-41	-225	-15	-112	-
Legal Settlements	-	-45	-204	-	-
Other Unusual Items	-	-	-178	-151	-
Pretax Income	14,585	10,520	10,607	11,771	12,381
Income Tax Expense	2,737	3,017	2,339	2,244	2,671
Earnings From Continuing Operations	11,848	7,503	8,268	9,527	9,710
Minority Interest in Earnings	-500	-446	-455	-479	-601
Net Income	11,348	7,057	7,813	9,048	9,109
Preferred Dividends & Other Adjustments	32	23	22	24	26
Net Income to Common	11,316	7,034	7,791	9,024	9,083
Net Income Growth	60.80%	-9.68%	-13.65%	-0.67%	13.07%
Shares Outstanding (Basic)	1,556	1,554	1,552	1,550	1,558
Shares Outstanding (Diluted)	1,558	1,556	1,553	1,552	1,559
Shares Change (YoY)	0.13%	0.19%	0.06%	-0.45%	0.06%
EPS (Basic)	7.27	4.53	5.02	5.82	5.83
EPS (Diluted)	7.26	4.52	5.02	5.81	5.83
EPS Growth	60.62%	-9.96%	-13.60%	-0.34%	12.98%
Free Cash Flow	10,664	10,773	7,883	9,726	11,219
Free Cash Flow Per Share	6.84	6.92	5.08	6.27	7.20
Dividend Per Share	5.640	5.300	5.140	5.040	4.900
Dividend Growth	6.42%	3.11%	1.98%	2.86%	3.38%
Gross Margin	67.12%	64.81%	63.34%	65.04%	68.06%
Operating Margin	41.15%	34.89%	37.61%	40.33%	41.64%
Profit Margin	27.84%	18.57%	22.15%	28.41%	28.92%
Free Cash Flow Margin	26.24%	28.44%	22.41%	30.62%	35.72%
EBITDA	18,722	15,002	14,628	13,885	14,074
EBITDA Margin	46.06%	39.61%	41.59%	43.72%	44.81%
D&A For EBITDA	1,996	1,787	1,398	1,077	998
EBIT	16,726	13,215	13,230	12,808	13,076
EBIT Margin	41.15%	34.89%	37.61%	40.33%	41.64%
Effective Tax Rate	18.77%	28.68%	22.05%	19.06%	21.57%
Advertising Expenses	1,355	1,069	965	777	807

Updated Feb 6, 2026. Source: S&P Global Market Intelligence. Standard template. Financial Sources.

SEC Filings: 10-K · 10-Q