Philip Morris International is executing a successful transition to smoke-free products, with revenue growth accelerating to 10.4% YoY in 2026Q2 and gross margins expanding 470 basis points to 68.4% since 2024Q1.
Price trend, volume and key moving averages
Start with the evidence for owning the stock and the risks that can break the thesis.
Revenue growth accelerated to 10.4% YoY in 2026Q2, with gross margin expanding to 68.4% and operating margin reaching 40.5%, reflecting strong pricing power and cost discipline.
Philip Morris is successfully transitioning towards smoke-free products, with IQOS and ZYN leading the charge, showing organic growth and market share gains.
The majority of Wall Street analysts have a 'Buy' or 'Strong Buy' rating on PM stock, with a consensus price target suggesting potential upside.
The stock is currently considered undervalued based on a Discounted Cash Flow (DCF) model, indicating potential for price appreciation.
Increased competition and regulatory uncertainties, particularly concerning newer nicotine pouch products, could negatively impact margins.
Some analysts suggest the stock's current valuation may be too high, trading at a higher P/E ratio compared to the industry average.
While international growth is strong, the U.S. segment has experienced declines, and growth in key drivers like ZYN has slowed.
Trailing total returns as of 11/8/2026, which may include dividends or other distributions. Benchmark is S&P 500 (^GSPC).
Check whether operating performance supports the current valuation.
Recent results and news deserve attention only when they alter the forward view.
| Quarter | EPS (Act vs Est) | Revenue (Act vs Est) |
|---|---|---|
Q4 2026Latest Oct 21, 2026 | $2.36+2.6% vs $2.30 | $11.4B+1.1% vs $11.3B |
Q3 2026 Jul 22, 2026 | $2.20+7.3% vs $2.05 | $11.2B+5.6% vs $10.6B |
Q2 2026 Apr 22, 2026 | $1.96+5.4% vs $1.86 | $10.1B+1.9% vs $10.0B |
Q1 2026 Feb 6, 2026 | $1.70+0.0% vs $1.70 | $10.4B-0.4% vs $10.4B |
Chicago Partners Investment Group LLC grew its stake in Philip Morris International Inc. (NYSE: PM) by 20.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 19,794 shares of the company's stock after buying an additional 3,358
Paychecks stop in retirement, but the bills never do. Five dividend payers spanning telecoms, tobacco, and oil can team up to cover a surprising amount of that gap every single month of the year.
Associated Banc Corp purchased a new position in shares of Philip Morris International Inc. (NYSE: PM) in the third quarter, according to its most recent filing with the SEC. The firm purchased 482,676 shares of the company's stock, valued at approximately $92,104,000. Philip Morris International accounts for 2.2% of Associated Banc Corp's portfolio,
Both tobacco giants beat earnings estimates, raised their dividends, and surged more than 30% this year, but they pull retirees in opposite directions when it comes to income now versus income later.
Benchmark PM against direct peers instead of judging its metrics in isolation.
Key metrics vs top competitors for Philip Morris International Inc. (PM)
| Company | Price | Market Cap | P/E Ratio | Rev Growth (1Y) | Net Margin | ROE | Div Yield |
|---|---|---|---|---|---|---|---|
| $197.88 | $308.42B | 28.88 | 7.31% | 24.82% | — | 2.8% | |
| $76.12 | $127.11B | 15.65 | -1.49% | 38.1% | — | 5.45% | |
| $60.89 | $131.71B | 13.07 | -0.99% | — | — | 5.11% | |
| $1.55 | $5.59K | -0.00 | -40.66% | -41.26% | -20.47% | — | |
| $4.37 | $177.42M | 8.17 | 55.25% | 58.87% | 6.24% | 23.45% | |
| $39.41 | $982.32M | -403.79 | -0.77% | -0.09% | -0.17% | 8.19% |
Philip Morris International Inc. (PM) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.
Verify the primary filings, follow material updates, and answer the remaining questions.
Philip Morris International Inc. (PM) SEC filings — annual & quarterly reports (10-K, 10-Q)
Oct 21, 2026·SEC
Jul 22, 2026·SEC
Jul 9, 2026·SEC
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Philip Morris International Inc. (PM) stock FAQ — growth, dividends, profitability & financials explained
Philip Morris International Inc. (PM) reported $43.14B in revenue over the trailing twelve months. Revenue was $40.65B in fiscal year 2025. That is 22% more than the $33.39B of fiscal year 2003.
Philip Morris International Inc. (PM) grew revenue by 7.9% over the trailing twelve months, compared with the twelve months before.
Yes. Philip Morris International Inc. (PM) earned $10.71B in net income over the trailing twelve months (a 24.8% net margin).
Yes. Philip Morris International Inc. (PM) pays a dividend that yields 2.80% at the current price, a moderate yield.
Philip Morris International Inc. (PM) generated $13.60B in free cash flow over the trailing twelve months.
