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Philip Morris International Inc
🇺🇸 PM · NYSE/NASDAQ
Consumer
Price at analysis: USD 208.65 Current price: USD 208.16 * updated every night
Scores
Key Metrics
Powered by EODHDP/E (TTM)
30.4
P/E (Price-to-Earnings)Shows how much investors pay for each $1 of profit. We display the TTM P/E (Trailing Twelve Months) which uses actual earnings from the last 4 quarters. This is more reliable than Forward P/E which uses analyst estimates.
Net Debt/EBITDA (TTM)
2.2x
Latest quarter: 8.5x
Net Debt / EBITDAA leverage ratio showing how many years of EBITDA (earnings before interest, taxes, depreciation, and amortization) it would take to repay net debt. EBITDA approximates operating cash generation. Lower ratios (e.g., <3x) are generally safer; higher (e.g., >5x) may indicate more financial risk.
Latest quarter (2026-09-30): 8.5x
The quarterly value can spike when quarterly EBITDA is very low (e.g., one-time charges).
Quick guide: <2x manageable, >4x can be risky (sector-dependent).
EV/EBITDA
20.7x
EV/EBITDAA valuation ratio that compares total business value (including debt) to EBITDA. Lower can mean cheaper, but context matters.
Dividend Summary
Powered by EODHDDividend Yield (Fwd)
2.88%
TTM: 2.97%
Dividend YieldThe Forward yield (Fwd) shows the next announced annual dividend / current price — what you'd earn going forward. The Trailing yield (TTM) in the tooltip shows dividends actually paid in the last 12 months. Forward is shown as primary because it reflects the company's current commitment to shareholders.
Forward Yield (estimated): 2.88%
Trailing Yield (TTM, last 12 months): 2.97%
Payout Ratio (Fwd)
73.1% TTM
Payout RatioDividends as a percentage of earnings. The Forward payout (Fwd) uses the announced dividend divided by actual past earnings (TTM) — it tells you if the company can afford what it promised. Very high payouts can be risky, especially if profits fall.
Announced dividend / actual earnings (TTM)
Dividend History
EODHD Dividends API| Status | Type | Decl. Date | Ex-Div Date | Pay Date | Currency | Amount |
|---|---|---|---|---|---|---|
| Forecast* | Quarterly | — | 02 Oct 2027 | — | USD | 1.6 |
| Forecast* | Quarterly | — | 25 Jun 2027 | — | USD | 1.47 |
| Forecast* | Quarterly | — | 19 Mar 2027 | — | USD | 1.47 |
| Forecast* | Quarterly | — | 26 Dec 2026 | — | USD | 1.47 |
| Paid | Quarterly | 18 Sep 2026 | 02 Oct 2026 | 26 Oct 2026 | USD | 1.6 |
| Paid | Quarterly | 11 Jun 2026 | 25 Jun 2026 | 20 Jul 2026 | USD | 1.47 |
| Paid | Quarterly | 05 Mar 2026 | 19 Mar 2026 | 13 Apr 2026 | USD | 1.47 |
| Paid | Quarterly | 12 Dec 2025 | 26 Dec 2025 | 14 Jan 2026 | USD | 1.47 |
* Extrapolated from past dividend history. Not an official announcement — treat as an estimate, not a confirmed date or amount.
Summary
Philip Morris is successfully executing its transition to a smoke-free future, armed with formidable regulatory moats and having recently cleared major legacy litigation overhangs. However, trading at over 30x TTM earnings with a yield under 3%, the market has fully priced in this success. Existing holders should maintain, but investors should watch for a valuation reset before initiating new positions.
Sector Context
Philip Morris International operates in the Consumer (Tobacco) sector, leading the industry transition from legacy combustible cigarettes (in secular volume decline) to next-generation smoke-free products. From a DGI perspective, it provides high cash flows and oligopoly-like regulatory moats, though its current yield profile diverges from traditional high-yield tobacco peers.
Temporary Opportunity Identified
Reported a $579M net loss in Q4 2024 entirely due to a $2.3B non-cash impairment charge related to the Rothmans, Benson & Hedges (RBH) Canadian subsidiary litigation settlement. This is a one-time, ring-fenced resolution.
📊 Strategy Analysis
- • Unparalleled regulatory moat solidified by FDA MRTP authorizations for IQOS and ZYN, securing dominance in the smoke-free transition.
- • Major legal overhang resolved with the Canadian CCAA restructuring, capping liability and explicitly ring-fencing the parent company from direct exposure.
- • Significant balance sheet improvement, deleveraging from 7.0x in 2019 to a current Net Debt/EBITDA of 2.18x while covering the dividend with free cash flow (1.48x).
⚠ What to Watch
- • Stretched valuation with a TTM P/E of 30.43x and a forward P/E of 22.12x, leaving virtually no margin of safety for new capital.
- • Dividend yield has compressed to an unusually low 2.97% (TTM), which is structurally weak for the tobacco sector and below the company's historical average.
- • Ongoing regulatory friction, including the EU ban on characterizing flavors for heated tobacco products, which creates volume headwinds for consumables like HEETS/TEREA.
📊 Historical Trends (10 Years)
Powered by EODHDThese charts show how key metrics have evolved over the past decade, helping you identify if the company is improving or deteriorating.
Debt Evolution (Net Debt / EBITDA)
Lower values are better. A declining trend indicates the company is reducing its debt (deleveraging).
Revenue & Earnings Growth
Consistent growth in revenueRevenue
The money a company brings in from selling its products or services. It’s the top line before costs. (blue) and earningsEarnings (Profit)
What’s left after expenses. Positive earnings mean the business made a profit; negative means a loss. (green) indicates a healthy business. Look for upward trends and recoveries after temporary dips.
Dividend Sustainability (FCF vs Dividends Paid)
Free cash flowFree Cash Flow
Cash left after the company pays for running the business and maintaining it. Often used to fund dividends, pay debt, or buy back shares. (FCFFCF (Free Cash Flow)
Short for Free Cash Flow: cash left after operating needs and maintenance spending., blue) should cover dividends paidDividends Paid
Cash the company paid out to shareholders. It’s not guaranteed and can change over time. (green). If dividends consistently exceed FCFFCF (Free Cash Flow)
Short for Free Cash Flow: cash left after operating needs and maintenance spending., the dividend may be at risk.
Analysis date: 2026-10-31
Disclaimer: This information is for educational purposes only. Not financial advice.