Altria Group, Inc. (MO) Financial Ratios
30 years of historical data (1996–2025) · Consumer Defensive · Tobacco
EV/EBITDA
↓
8.92
+3% vs avg
5yr avg: 8.68
30Y Low1.5·High15.8
P/FCF
↑
12.74
↑+28% vs avg
5yr avg: 9.97
30Y Low1.4·High36.6
P/B Ratio
N/A
—
5yr avg: N/A
30Y Low0.9·High39.9
ROE
N/A
—
5yr avg: 375.3%
30Y Low-12%·High375%
Debt/EBITDA
↓
1.68
↓-21% vs avg
5yr avg: 2.13
30Y Low1.0·High3.9
Percentile shows where the current value sits in 30-year historical distribution. Sparklines show 5-year trend.
MO Valuation Multiples
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
Altria Group, Inc. trades at 16.8x earnings, roughly in line with its 5-year average of 16.1x, sitting at the 79th percentile of its historical range. Compared to the Consumer Defensive sector median P/E of 18.8x, the stock trades at a discount of 11%. On a free-cash-flow basis, the stock trades at 12.7x P/FCF, 28% above the 5-year average of 10.0x.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $115.6B | $96.7B | $89.8B | $71.7B | $82.5B | $87.4B | $76.2B | $93.3B | $93.2B | $137.2B | $132.0B |
| Enterprise Value | $136.8B | $117.9B | $111.6B | $94.2B | $105.1B | $110.9B | $100.7B | $119.2B | $117.7B | $149.8B | $141.3B |
| P/E Ratio → | 16.82 | 14.03 | 8.00 | 8.83 | 14.33 | 35.37 | 17.08 | — | 13.38 | 13.45 | 9.29 |
| P/S Ratio | 5.74 | 4.80 | 4.39 | 3.50 | 3.99 | 4.14 | 3.66 | 4.71 | 4.75 | 7.04 | 6.83 |
| P/B Ratio | — | — | — | — | — | — | 26.06 | 14.76 | 6.31 | 8.92 | 10.33 |
| P/FCF | 12.74 | 10.66 | 10.43 | 7.89 | 10.24 | 10.62 | 9.35 | 12.29 | 11.44 | 29.04 | 36.64 |
| P/OCF | 12.44 | 10.41 | 10.26 | 7.72 | 9.99 | 10.40 | 9.09 | 11.90 | 11.11 | 27.87 | 34.82 |
P/E links to full P/E history page with 30-year chart
MO EV Ratios
Enterprise-value multiples — capital-structure-neutral measures of total business value
Altria Group, Inc.'s enterprise value stands at 8.9x EBITDA, roughly in line with its 5-year average of 8.7x. The Consumer Defensive sector median is 11.0x, placing the stock at a 19% discount on an enterprise-value basis.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 5.86 | 5.46 | 4.60 | 5.08 | 5.25 | 4.83 | 6.02 | 5.99 | 7.69 | 7.31 |
| EV / EBITDA | 8.92 | 7.69 | 9.68 | 7.97 | 8.65 | 9.40 | 9.05 | 11.30 | 12.59 | 15.28 | 15.76 |
| EV / EBIT | 9.08 | 11.16 | 7.55 | 7.80 | 12.34 | 22.13 | 12.42 | 57.09 | 11.72 | 14.18 | 6.25 |
| EV / FCF | — | 13.00 | 12.96 | 10.37 | 13.06 | 13.47 | 12.36 | 15.70 | 14.43 | 31.72 | 39.23 |
MO Profitability
Margins and return-on-capital ratios measuring operating efficiency
Altria Group, Inc. earns an operating margin of 74.8%, significantly above the Consumer Defensive sector average of 3.5%. Operating margins have expanded from 56.3% to 74.8% over the past 3 years, signaling improving operational efficiency. ROIC of 60.4% represents excellent returns on invested capital versus a sector median of 5.7%.
Margins
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 86.6% | 86.6% | 70.3% | 69.7% | 68.9% | 66.3% | 62.5% | 64.2% | 62.4% | 61.4% | 59.8% |
| Operating Margin | 74.8% | 74.8% | 55.0% | 56.3% | 57.6% | 54.8% | 52.2% | 52.2% | 46.4% | 49.2% | 45.3% |
| Net Profit Margin | 34.5% | 34.5% | 55.1% | 39.7% | 27.9% | 11.7% | 21.4% | -6.5% | 35.5% | 52.4% | 73.6% |
Return on Capital
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | — | — | — | — | — | 375.3% | 96.6% | -12.3% | 46.2% | 72.6% | 182.1% |
| ROA | 19.8% | 19.8% | 30.5% | 21.5% | 15.1% | 5.7% | 9.2% | -2.5% | 14.1% | 22.9% | 36.3% |
| ROIC | 60.4% | 60.4% | 43.6% | 45.8% | 44.0% | 35.1% | 27.3% | 21.7% | 20.3% | 28.7% | 37.0% |
| ROCE | 57.6% | 57.6% | 41.9% | 41.5% | 40.2% | 33.4% | 27.4% | 27.3% | 25.7% | 25.6% | 27.4% |
MO Leverage & Debt
Solvency and debt-coverage ratios — lower is generally safer
Altria Group, Inc. carries a Debt/EBITDA ratio of 1.7x, which is manageable (52% below the sector average of 3.5x). Net debt stands at $21.2B ($25.7B total debt minus $4.5B cash). Interest coverage of 9.0x is adequate, though a cyclical earnings downturn could tighten the margin of safety.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | — | — | — | — | — | — | 10.08 | 4.44 | 1.74 | 0.90 | 1.09 |
| Debt / EBITDA | 1.68 | 1.68 | 2.16 | 2.22 | 2.20 | 2.38 | 2.65 | 2.66 | 2.76 | 1.42 | 1.55 |
| Net Debt / Equity | — | — | — | — | — | — | 8.38 | 4.10 | 1.65 | 0.82 | 0.73 |
| Net Debt / EBITDA | 1.38 | 1.38 | 1.89 | 1.91 | 1.86 | 1.99 | 2.20 | 2.46 | 2.61 | 1.29 | 1.04 |
| Debt / FCF | — | 2.34 | 2.53 | 2.48 | 2.81 | 2.85 | 3.01 | 3.42 | 2.99 | 2.68 | 2.59 |
| Interest Coverage | 8.98 | 8.98 | 13.15 | 10.51 | 7.55 | 4.22 | 6.63 | 1.58 | 14.40 | 14.35 | 29.75 |
MO Liquidity & Efficiency
Short-term solvency ratios and asset-utilisation metrics
The current ratio of 0.61x is below 1.0, meaning current liabilities exceed current assets — though the company's $4.5B cash position helps mitigate short-term liquidity concerns. The current ratio has improved from 0.49x to 0.61x over the past 3 years.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 0.61 | 0.61 | 0.51 | 0.49 | 0.84 | 0.71 | 0.79 | 0.59 | 0.20 | 0.64 | 0.98 |
| Quick Ratio | 0.49 | 0.49 | 0.39 | 0.39 | 0.70 | 0.57 | 0.57 | 0.31 | 0.09 | 0.31 | 0.71 |
| Cash Ratio | 0.49 | 0.49 | 0.36 | 0.33 | 0.47 | 0.53 | 0.55 | 0.26 | 0.06 | 0.18 | 0.62 |
| Asset Turnover | — | 0.58 | 0.58 | 0.53 | 0.56 | 0.53 | 0.44 | 0.40 | 0.35 | 0.45 | 0.42 |
| Inventory Turnover | 2.52 | 2.52 | 5.63 | 5.12 | 5.46 | 5.96 | 3.98 | 3.09 | 3.16 | 3.38 | 3.79 |
| Days Sales Outstanding | — | 4.77 | 4.82 | 10.09 | 33.03 | 0.81 | 2.40 | 2.80 | 5.75 | 11.29 | 7.93 |
MO Shareholder Yields
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Altria Group, Inc. returns 6.9% to shareholders annually — split between a 6.0% dividend yield and 0.9% buyback yield. The payout ratio exceeds 100% at 100.2%, meaning the company is paying out more than it earns — this level is unsustainable long-term without earnings recovery. The earnings yield of 5.9% (inverse of P/E) provides a useful comparison to bond yields when assessing the stock's relative attractiveness to fixed income.
Dividends
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 6.0% | 7.2% | 7.6% | 9.5% | 8.0% | 7.4% | 8.3% | 6.5% | 5.8% | 3.5% | 3.4% |
| Payout Ratio | 100.2% | 100.2% | 60.8% | 83.4% | 114.5% | 260.4% | 140.8% | — | 77.8% | 47.0% | 31.7% |
Total Shareholder Return Metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 5.9% | 7.1% | 12.5% | 11.3% | 7.0% | 2.8% | 5.9% | — | 7.5% | 7.4% | 10.8% |
| FCF Yield | 7.9% | 9.4% | 9.6% | 12.7% | 9.8% | 9.4% | 10.7% | 8.1% | 8.7% | 3.4% | 2.7% |
| Buyback Yield | 0.9% | 1.0% | 3.8% | 1.4% | 2.2% | 1.9% | 0.0% | 0.9% | 1.8% | 2.1% | 0.8% |
| Total Shareholder Yield | 6.9% | 8.2% | 11.4% | 10.9% | 10.2% | 9.3% | 8.3% | 7.4% | 7.6% | 5.6% | 4.2% |
| Shares Outstanding | — | $1.7B | $1.7B | $1.8B | $1.8B | $1.8B | $1.9B | $1.9B | $1.9B | $1.9B | $2.0B |
Peer Comparison
Compare MO with 10 similar companies in its peer group
| Company | Market Cap | P/E | EV/EBITDA | P/FCF | Gross Margin | Op Margin | ROE | ROIC | Debt/EBITDA |
|---|---|---|---|---|---|---|---|---|---|
 MOYou | $116B | 16.8 | 8.9 | 12.7 | 86.6% | 74.8% | — | 60.4% | 1.7 |
 PM | $278B | 24.6 | 19.0 | 26.1 | 67.1% | 36.7% | — | 33.2% | 2.9 |
 BTI | $128B | 32.7 | 22.0 | 10.1 | 82.9% | 10.6% | 6.0% | 2.4% | 6.3 |
 TPB | $2B | 26.4 | 16.3 | 36.2 | 57.1% | 20.6% | 20.7% | 16.6% | 3.0 |
 XXII | $2M | -0.1 | — | — | -44.5% | -162.0% | -51.1% | -81.4% | — |
 UVV | $1B | 40.1 | 8.2 | 16.2 | 17.5% | 7.2% | 2.2% | 6.8% | 3.5 |
 STG | $46M | 0.9 | -0.3 | 2.2 | 86.9% | 22.0% | 47.3% | 84.8% | 0.3 |
 UFPT | $2B | 27.3 | 17.1 | 23.4 | 28.3% | 15.3% | 17.8% | 12.7% | 1.3 |
 SEE | $6B | 12.3 | 14.3 | 13.5 | 29.8% | 13.5% | 54.3% | 11.2% | 5.9 |
 BG | $22B | 22.9 | 21.4 | — | 4.5% | 1.5% | 5.8% | 3.3% | 9.6 |
 TAP | $7B | -3.6 | — | 6.9 | 37.6% | -21.0% | -17.8% | -10.1% | — |
| Consumer Defensive Median | — | 18.8 | 11.0 | 15.3 | 40.8% | 3.5% | 6.5% | 5.7% | 3.5 |
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Download Financial Ratios Data
Includes 30+ ratios · 30 years · Updated daily
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MO — Frequently Asked Questions
Quick answers to the most common questions about buying MO stock.
What is Altria Group, Inc.'s P/E ratio?
Altria Group, Inc.'s current P/E ratio is 16.8x. The historical average is 10.3x. This places it at the 79th percentile of its historical range.
What is Altria Group, Inc.'s EV/EBITDA?
Altria Group, Inc.'s current EV/EBITDA is 8.9x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 8.1x.
Is MO stock overvalued?
Based on historical data, Altria Group, Inc. is trading at a P/E of 16.8x. This is at the 79th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
What is Altria Group, Inc.'s dividend yield?
Altria Group, Inc.'s current dividend yield is 6.00% with a payout ratio of 100.2%.
What are Altria Group, Inc.'s profit margins?
Altria Group, Inc. has 86.6% gross margin and 74.8% operating margin. Operating margin above 20% indicates strong pricing power and cost efficiency.
How much debt does Altria Group, Inc. have?
Altria Group, Inc.'s Debt/EBITDA ratio is 1.7x, indicating moderate leverage. A ratio below 2x is generally considered financially healthy.