Philip Morris International Inc. (PM) operating KPIs

PMNYSECigarettesFiscal year ends December 31

Financials through Q2 FY2026, quarter ended Jun 30, 2026Last filing: 10-Q on Oct 23, 2026Score 13/3053% above fair value

$208.79+0.29 (+0.14%)

Close on Oct 30, 2026Market cap $325.42BP/E 30.0Yield 2.70%

KPIs

Operating metrics that drive Philip Morris International's business · fiscal year ends December 31

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Metric	Q3 2026 2026-09-30	Q2 2026 2026-06-30	Q1 2026 2026-03-31	Q4 2025 2025-12-31	Q3 2025 2025-09-30	Q2 2025 2025-06-30	Q1 2025 2025-03-31	Q4 2024 2024-12-31	Q3 2024 2024-09-30	Q2 2024 2024-06-30	Q1 2024 2024-03-31	Q4 2023 2023-12-31

Total Shipment Volume — PMI Consolidated (million equivalent units)(M)5	206,200	205,200	184,300	193,753	204,861	200,093	187,790	193,635	203,495	197,729	180,809	189,090
Total Shipment Volume YoY — PMI Consolidated (%)(%)	0.6%	2.5%	-1.9%	0.1%	0.7%	1.2%	3.9%	2.4%	3.1%	3.0%	3.7%
International Smoke-Free Segment — Total Shipment Volume (million eq. units)(M)1	44,500	44,700	44,100	40,844	43,296	41,415	39,424	37,830	37,430	37,493	35,049	35,698
International Smoke-Free Shipment Volume YoY (%)(%)	2.7%	8.0%	11.9%	8.0%	15.7%	10.5%	12.5%	6.0%	9.6%	13.5%	21.5%
International Combustibles Segment — Total Shipment Volume (million units)(M)1	158,000	156,900	137,300	149,426	157,940	155,248	144,753	152,780	163,238	157,618	143,191	151,094
International Combustibles Shipment Volume YoY (%)(%)	0.0%	1.1%	-5.1%	-2.2%	-3.2%	-1.5%	1.1%	1.1%	1.3%	0.4%	-0.4%
U.S. Segment — Total Shipment Volume (million eq. units)(M)1	3,700	3,500	2,800	3,484	3,626	3,430	3,613	3,025	2,827	2,618	2,570	2,300
U.S. Segment Shipment Volume YoY (%)(%)	2.3%	1.8%	-21.2%	15.2%	28.2%	31.0%	40.6%	31.5%	30.2%	33.4%	48.5%
Total Shipment Volume — PMI Consolidated (billion equivalent units)(M)3	206	205	184	194	205	200	188	194	204	198	181	189
International Smoke-Free (billion eq. units)(M)	44.5	44.7	44.1	40.8	43.3	41.4	39.4	37.8	37.4	37.5	35.1	35.7
International Combustibles (billion units)(M)	158	157	137	149	158	155	145	153	163	158	143	151
U.S. Segment (billion eq. units)(M)	3.70	3.50	2.80	3.48	3.63	3.43	3.61	3.02	2.83	2.62	2.57	2.30
Total Smoke-Free Products (SFP) Shipment Volume — PMI (million eq. units)(M)4	48,200	48,200	47,000	44,327	46,921	44,845	43,037	40,855	40,257	40,111	37,618	37,996
Total Smoke-Free Products Shipment Volume YoY — PMI (%)(%)	2.7%	7.5%	9.1%	8.5%	16.6%	11.8%	14.4%	7.5%	10.8%	14.6%	23.1%
International Smoke-Free — SFP Shipment Volume (million eq. units)(M)1	44,500	44,700	44,100	40,844	43,296	41,415	39,424	37,830	37,430	37,493	35,049	35,698
International Smoke-Free SFP Volume YoY (%)(%)	2.7%	8.0%	11.9%	8.0%	15.7%	10.5%	12.5%	6.0%	9.6%	13.5%	21.5%
U.S. Segment — SFP Shipment Volume (million eq. units)(M)1	3,700	3,500	2,800	3,484	3,626	3,430	3,613	3,025	2,827	2,618	2,570	2,300
U.S. SFP Shipment Volume YoY (%)(%)	2.3%	1.8%	-21.2%	15.2%	28.2%	31.0%	40.6%	31.5%	30.2%	33.4%	48.5%
Total Smoke-Free Products (SFP) Shipment Volume (billion eq. units)(M)2	48.2	48.2	47	44.3	46.9	44.8	43.0	40.9	40.3	40.1	37.6	38
International Smoke-Free SFP (billion eq. units)(M)	44.5	44.7	44.1	40.8	43.3	41.4	39.4	37.8	37.4	37.5	35.1	35.7
U.S. SFP (billion eq. units)(M)	3.70	3.50	2.80	3.48	3.63	3.43	3.61	3.02	2.83	2.62	2.57	2.30
Heated Tobacco Units (HTU — IQOS consumables) Shipment Volume — PMI (million units)(M)4	41,500	41,800	41,300	38,398	40,836	38,810	37,089	35,718	35,347	35,544	33,134	33,972
Heated Tobacco Units (HTU) Shipment Volume YoY — PMI (%)(%)	1.5%	7.6%	11.3%	7.5%	15.5%	9.2%	11.9%	5.1%	8.9%	13.1%	20.9%
International Smoke-Free — HTU Shipment Volume (million units)(M)1	41,500	41,800	41,300	38,396	40,833	38,809	37,089	35,718	35,347	35,544	33,134	33,972
International Smoke-Free HTU Volume YoY (%)(%)	1.5%	7.6%	11.3%	7.5%	15.5%	9.2%	11.9%	5.1%	8.9%	13.1%	20.9%
U.S. Segment — HTU Shipment Volume (million units)(M)				2	3	1
Heated Tobacco Units (HTU) Shipment Volume (billion units)(M)1	41.5	41.8	41.3	38.4	40.8	38.8	37.1	35.7	35.4	35.5	33.1	34.0
International Smoke-Free HTU (billion units)(M)	41.5	41.8	41.3	38.4	40.8	38.8	37.1	35.7	35.4	35.5	33.1	34.0
Oral Smoke-Free Products (ZYN, Snus, Moist Snuff) Shipment Volume — PMI (million eq. units)(M)6	5,300	5,100	4,500	4,974	5,201	5,177	5,316	4,638	4,447	4,183	4,180	3,802
Oral Smoke-Free Products Shipment Volume YoY — PMI (%)(%)	1.8%	-1.2%	-16.1%	7.3%	16.9%	23.8%	27.2%	22.0%	22.2%	20.0%	35.7%
U.S. Segment — Oral SFP Shipment Volume (million pouch equivalents)(M)1	3,700	3,500	2,800	3,482	3,623	3,429	3,613	3,025	2,827	2,618	2,570	2,300
U.S. Oral SFP Volume YoY (%)(%)	2.3%	1.8%	-21.3%	15.1%	28.1%	31.0%	40.6%	31.5%	30.2%	33.4%	48.5%
International Smoke-Free — Oral SFP Shipment Volume (million pouch equivalents)(M)1	1,600	1,600	1,600	1,493	1,578	1,748	1,703	1,613	1,620	1,565	1,610	1,504
International Smoke-Free Oral SFP Volume YoY (%)(%)	0.5%	-7.0%	-5.1%	-7.5%	-2.6%	11.7%	5.8%	7.3%	10.3%	2.7%	19.4%
Oral Smoke-Free Products Shipment Volume (billion pouch equivalents)(M)2	5.30	5.10	4.50	4.97	5.20	5.18	5.32	4.64	4.45	4.18	4.18	3.80
U.S. Oral SFP (billion pouch equivalents)(M)	3.70	3.50	2.80	3.48	3.62	3.43	3.61	3.02	2.83	2.62	2.57	2.30
International Smoke-Free Oral SFP (billion pouch equivalents)(M)	1.60	1.60	1.60	1.49	1.58	1.75	1.70	1.61	1.62	1.56	1.61	1.50
Oral Smoke-Free Products in Pouches — Total PMI (million pouches, from Q1 2026)(M)2	5,300	5,100	4,500
U.S. Total Oral SFP (million pouches)(M)1	3,700	3,500	2,800
U.S. Nicotine Pouches (ZYN) Shipment Volume (million pouches)(M)1	3,200	2,900	2,300
U.S. Nicotine Pouches (ZYN) YoY (%)(%)	4.2%	1.8%	-23.5%
International Smoke-Free Total Oral SFP (million pouches)(M)1	1,600	1,600	1,600
International Nicotine Pouches Shipment Volume (million pouches)(M)1	500	600	500
International Nicotine Pouches YoY (%)(%)	20.6%	14.7%	14.3%
Oral Smoke-Free Products in Cans — Total PMI (million cans, reported through FY2025 / Q1 2026)(M)5				4,974	5,201	5,177	5,316	4,638	4,447	4,183	4,180	3,802
Total Oral SFP Cans YoY — PMI (%)(%)				7.3%	16.9%	23.8%	27.2%	22.0%	22.2%	20.0%	35.7%
Nicotine Pouches (ZYN) — Total PMI (million cans)(M)1				3,341	3,461	3,339	3,458	2,851	2,553	2,329	2,265	1,941
Nicotine Pouches Cans YoY — PMI (%)(%)				17.2%	35.6%	43.4%	52.7%	46.9%	43.8%	50.4%	78.6%
Snus, Moist Snuff & Other Oral — Total PMI (million cans)(M)1				1,634	1,740	1,838	1,857	1,787	1,894	1,854	1,914	1,862
Snus, Moist Snuff & Other Cans YoY — PMI (%)(%)				-8.6%	-8.2%	-0.9%	-3.0%	-4.0%	1.6%	-4.3%	5.7%
U.S. Segment — Total Oral SFP (million cans)(M)3				3,482	3,623	3,429	3,613	3,025	2,827	2,618	2,570	2,300
U.S. Total Oral Cans YoY (%)(%)				15.1%	28.1%	31.0%	40.6%	31.5%	30.2%	33.4%	48.5%
U.S. Nicotine Pouches (ZYN) Shipment Volume (million cans, through Q1 2026)(M)1			155	2,947	3,073	2,854	3,032	2,471	2,237	2,026	1,973	1,745
U.S. ZYN Cans YoY (%)(%)			-23.5%	19.2%	37.4%	40.9%	53.6%	41.7%	41.4%	50.2%	79.7%
U.S. Snus, Moist Snuff & Other Oral (million cans)(M)1				535	549	576	581	553	591	592	596	555
U.S. Snus & Moist Snuff Cans YoY (%)(%)				-3.4%	-7.0%	-2.8%	-2.5%	-0.3%	0.2%	-3.5%	-5.6%
International Smoke-Free — Total Oral SFP (million cans)(M)3				1,493	1,578	1,748	1,703	1,613	1,620	1,565	1,610	1,504
International Oral Cans YoY (%)(%)				-7.5%	-2.6%	11.7%	5.8%	7.3%	10.3%	2.7%	19.4%
International Nicotine Pouches (million cans)(M)1				394	388	485	427	380	316	303	292	197
International Nicotine Pouches Cans YoY (%)(%)				3.7%	22.5%	60.1%	46.2%	93.0%	63.4%	51.2%	71.6%
International Snus, Moist Snuff & Other Oral (million cans)(M)1				1,099	1,191	1,263	1,276	1,233	1,304	1,262	1,318	1,307
International Snus & Other Oral Cans YoY (%)(%)				-10.9%	-8.7%	0.0%	-3.2%	-5.6%	2.3%	-4.7%	11.8%
E-Vapor (VEEV) Shipment Volume — PMI (million equivalent units)(M)3	1,400	1,300	1,200	955	885	858	632	499	463	384	305	222
E-Vapor Shipment Volume YoY — PMI (%)(%)	61.6%	55.1%	94.8%	91.4%	91.0%
International Smoke-Free — E-Vapor Shipment Volume (million eq. units)(M)1	1,400	1,300	1,200	955	885	858	632	499	463	384	305	222
International Smoke-Free E-Vapor Volume YoY (%)(%)	61.6%	55.1%	94.8%	91.4%	91.0%
E-Vapor (VEEV) Shipment Volume (billion equivalent units)(M)1	1.40	1.30	1.20	0.95	0.89	0.86	0.63	0.50	0.46	0.38	0.30	0.22
International Smoke-Free E-Vapor (billion eq. units)(M)	1.40	1.30	1.20	0.95	0.89	0.86	0.63	0.50	0.46	0.38	0.30	0.22
Cigarettes Shipment Volume — PMI Consolidated (million units / sticks)(M)3	158,000	156,900	137,300	149,426	157,940	155,248	144,753	152,780	163,238	157,618	143,191	151,094
Cigarettes Shipment Volume YoY — PMI (%)(%)	0.0%	1.1%	-5.1%	-2.2%	-3.2%	-1.5%	1.1%	1.1%	1.3%	0.4%	-0.4%
International Combustibles — Cigarettes Shipment Volume (million units)(M)1	158,000	156,900	137,300	149,426	157,940	155,248	144,753	152,780	163,238	157,618	143,191	151,094
International Combustibles Cigarettes Volume YoY (%)(%)	0.0%	1.1%	-5.1%	-2.2%	-3.2%	-1.5%	1.1%	1.1%	1.3%	0.4%	-0.4%
Cigarettes Shipment Volume — PMI (billion units)(M)1	158	157	137	149	158	155	145	153	163	158	143	151
International Combustibles Cigarettes (billion units)(M)	158	157	137	149	158	155	145	153	163	158	143	151

Markets with Smoke-Free Products Available for Sale (count)1	110	109	108	106	100	97	95	95
Markets with ZYN Nicotine Pouches Available (count)	62	60	58	55	47	44	38
Smoke-Free Business % of Total PMI Net Revenues (%)(%)	40.4%	41.0%	43.0%	41.5%	41.0%	41.0%	42.0%
HTU Adjusted In-Market Sales (IMS) Volume Growth YoY — Total PMI (%)(%)8	7.1%	5.1%	10.9%	12.0%	9.5%	11.4%	9.4%
Japan — HTU Adjusted IMS Volume Growth YoY (%)(%)	3.4%	-3.4%	10.4%	5.8%
Europe — HTU Adjusted IMS Volume Growth YoY (%)(%)	6.0%	5.1%	5.4%	10.3%
Rest of World — HTU Adjusted IMS Volume Growth YoY (%)(%)	12.7%	14.4%	19.4%
IQOS Share of Cigarette + HTU Category in Markets Where Present (%)(%)	9.9%	9.2%	10.9%	9.6%
Europe Region — PMI HTU Share of Cigarette + HTU Category (%)(%)	11.6%	11.8%	12.6%	12.0%	10.7%	10.8%	11.5%	10.5%
PMI Share of International Cigarette Category (%)(%)	25.9%	25.3%	24.8%	25.3%	25.5%	25.3%	24.9%
Marlboro Share of International Cigarette Category (%)(%)	11.4%	11.0%	10.7%	11.0%	10.9%	10.7%	10.3%
Estimated International Cigarette + HTU Industry Volume Change YoY (ex-China & U.S., %)(%)	-0.1%	-0.2%	-1.0%	-1.1%

Net Revenues — Total PMI Consolidated & Organic Growth Bridge ($M)($M)9	11,438	11,192	10,146	10,362	10,845	10,140	9,301	9,706	9,911	9,468	8,793	9,047
Reported Net Revenue Growth YoY — Total PMI (%)(%)	5.5%	10.4%	9.1%	6.8%	9.4%	7.1%	5.8%	7.3%	8.4%	5.6%	9.7%
Net Revenue Growth ex-Currency YoY — Total PMI (%)(%)	6.9%	7.4%	2.7%	3.2%	5.5%	6.3%	9.6%	7.3%	11.6%	9.6%	12.1%
Organic Net Revenue Growth YoY — Total PMI (%)(%)	7.1%	7.6%	2.7%	3.7%	5.9%	6.8%	10.2%	7.3%	11.6%	9.6%	12.1%
Pricing Variance on Net Revenues — Total PMI ($M)($M)	739	1,150	461	285	305	420	526	482	689	583	449
Volume/Mix Variance on Net Revenues — Total PMI ($M)($M)	36	-125	-346	73	245	225	377	179	322	303	464
Currency Impact on Net Revenues — Total PMI ($M)($M)	-155	299	590	345	385	71	-340		-289	-358	-194
Net Revenues — International Smoke-Free Segment ($M)($M)6	3,867	3,877	3,836	3,686	3,839	3,395	3,076	3,159	3,101	3,015	2,850	3,057
International Smoke-Free Segment — Reported Net Revenue Growth YoY (%)(%)	0.7%	14.2%	24.7%	16.7%	23.8%	12.6%	7.9%	3.3%	8.2%	9.4%	17.7%
International Smoke-Free Segment — Net Revenue Growth ex-Currency YoY (%)(%)	2.7%	11.3%	15.8%	11.2%	18.0%	10.4%	12.5%	3.1%	11.3%	14.8%	22.0%
International Smoke-Free Segment — Organic Net Revenue Growth YoY (%)(%)	3.4%	11.8%	15.8%	11.2%	18.0%	10.4%	12.5%	3.1%	11.3%	14.8%	22.0%
International Smoke-Free Segment — Pricing Variance on Net Revenues ($M)($M)	21	174	88	45	51	4	-3	-29	39	63	61
International Smoke-Free Segment — Volume/Mix Variance on Net Revenues ($M)($M)	108	715	399	311	508	309	360	123	284	343	472
International Smoke-Free Segment — Currency Impact on Net Revenues ($M)($M)	-74	98	273	172	179	65	-130	7	-87	-148	-106
Net Revenues — International Combustibles Segment ($M)($M)6	6,725	6,459	5,688	5,911	6,316	5,883	5,326	5,720	6,041	5,748	5,299	5,391
International Combustibles Segment — Reported Net Revenue Growth YoY (%)(%)	6.5%	9.8%	6.8%	3.3%	4.6%	2.3%	0.5%	6.1%	4.4%	1.9%	-1.0%
International Combustibles Segment — Net Revenue Growth ex-Currency YoY (%)(%)	7.8%	6.4%	1.0%	0.4%	1.2%	2.3%	4.4%	6.3%	7.9%	5.6%	4.2%
International Combustibles Segment — Organic Net Revenue Growth YoY (%)(%)	7.8%	6.4%	1.0%	0.4%	1.2%	2.3%	4.4%	6.3%	7.9%	5.6%	5.9%
International Combustibles Segment — Pricing Variance on Net Revenues ($M)($M)	565	1,042	454	389	511	421	449	459	577	493	382
International Combustibles Segment — Volume/Mix Variance on Net Revenues ($M)($M)	-75	-614	-542	-364	-476	-286	-208	-118	-117	-175	-161
International Combustibles Segment — Currency Impact on Net Revenues ($M)($M)	-81	200	310	169	202	5	-208	-10	-200	-211	-90
Net Revenues — U.S. Segment ($M)($M)7	845	856	622	765	689	862	899	827	769	705	644	599
U.S. Segment — Reported Net Revenue Growth YoY (%)(%)	22.7%	-0.7%	-30.8%	-7.5%	-10.4%	22.3%	39.7%	38.1%	56.3%	23.7%	26.5%
U.S. Segment — Net Revenue Growth ex-Currency YoY (%)(%)	22.7%	-0.9%	-31.6%	-8.0%	-10.8%	22.2%	40.1%	37.8%	56.4%	23.7%	26.1%
U.S. Segment — Organic Net Revenue Growth YoY (%)(%)	22.7%	-0.9%	-31.6%	-2.7%	-5.8%	27.7%	47.6%	37.8%	56.4%	23.7%	26.1%
U.S. Segment — Pricing Variance on Net Revenues ($M)($M)	153	-65	-80	-150	-255	-7	81	53	72	26	5
U.S. Segment — Volume/Mix Variance on Net Revenues ($M)($M)	4	-226	-203	128	211	203	226	174	155	134	154
U.S. Segment — Currency Impact on Net Revenues ($M)($M)	-1	1	7	4	4	1	-2	2			2
U.S. Segment — Acquisitions & Divestitures Impact on Net Revenues ($M)($M)				-44	-38	-39	-49
Smoke-Free Business — Total Net Revenues ($M)($M)7	4,625	4,645	4,379	4,354	4,445	4,161	3,895	3,887	3,777	3,610	3,386	3,558
Smoke-Free Total — Reported Revenue YoY (%)(%)	4.1%	11.7%	12.4%	12.0%	17.7%	15.2%	15.0%	9.2%	14.2%	13.6%	21.1%
Smoke-Free Total — Revenue Growth ex-Currency YoY (%)(%)	5.7%	9.3%	5.3%	7.5%	12.9%	13.4%	18.9%	9.0%	16.8%	18.3%	24.8%
Smoke-Free Total — Organic Revenue Growth YoY (%)(%)	6.3%	9.7%	5.3%	8.6%	13.9%	14.5%	20.4%	9.0%	16.8%	18.3%	24.8%
Smoke-Free Total — Currency Impact ($M)($M)	-75	100	279	176	182	67	-132	9	-88	-148	-104
Smoke-Free — International Smoke-Free — Net Revenues ($M)($M)4	3,867	3,877	3,836	3,686	3,839	3,395	3,076	3,159	3,101	3,015	2,850	3,057
Smoke-Free — International Smoke-Free — Reported Revenue YoY (%)(%)	0.7%	14.2%	24.7%	16.7%	23.8%	12.6%	7.9%	3.3%	8.2%	9.4%	17.7%
Smoke-Free — International Smoke-Free — Revenue Growth ex-Currency YoY (%)(%)	2.7%	11.3%	15.8%	11.2%	18.0%	10.4%	12.5%	3.1%	11.3%	14.8%	22.0%
Smoke-Free — International Smoke-Free — Organic Revenue Growth YoY (%)(%)	3.4%	11.8%	15.8%	11.2%	18.0%	10.4%	12.5%	3.1%	11.3%	14.8%	22.0%
Smoke-Free — International Smoke-Free — Currency Impact ($M)($M)	-74	98	273	172	179	65	-130	7	-87	-148	-106
Smoke-Free — U.S. (ZYN / IQOS) — Net Revenues ($M)($M)4	758	768	543	668	605	766	818	728	675	595	535	501
Smoke-Free — U.S. (ZYN / IQOS) — Reported Revenue YoY (%)(%)	25.2%	0.3%	-33.6%	-8.2%	-10.4%	28.8%	52.8%	45.3%	52.6%	41.2%	43.6%
Smoke-Free — U.S. (ZYN / IQOS) — Revenue Growth ex-Currency YoY (%)(%)	25.3%	0.1%	-34.4%	-8.8%	-10.9%	28.5%	53.2%	44.9%	52.7%	41.2%	43.1%
Smoke-Free — U.S. (ZYN / IQOS) — Organic Revenue Growth YoY (%)(%)	25.3%	0.1%	-34.4%	-2.8%	-5.2%	35.1%	62.3%	44.9%	52.7%	41.2%	43.1%
Smoke-Free — U.S. (ZYN / IQOS) — Currency Impact ($M)($M)	-1	1	7	4	4	1	-2	2			2
Smoke-Free — Wellness & Healthcare (Vectura Fertin) — Net Revenues ($M)($M)4	74	56	62	72	57	57	51	87	76	80	90	69
Smoke-Free — Wellness & Healthcare (Vectura Fertin) — Reported Revenue YoY (%)(%)	29.6%	-1.3%	20.4%	-17.2%	-24.3%	-28.7%	-42.8%	26.4%	1.6%	4.7%	4.9%
Smoke-Free — Wellness & Healthcare (Vectura Fertin) — Revenue Growth ex-Currency YoY (%)(%)	30.5%	-3.8%	7.3%	-21.9%	-28.9%	-30.3%	-40.4%	23.9%	2.2%	5.0%	2.7%
Smoke-Free — Wellness & Healthcare (Vectura Fertin) — Organic Revenue Growth YoY (%)(%)	30.5%	-3.8%	7.3%	28.4%	21.7%	18.6%	13.8%	23.9%	2.2%	5.0%	2.7%
Smoke-Free — Wellness & Healthcare (Vectura Fertin) — Currency Impact ($M)($M)	-1	1	7	4	4	1	-2	2			2
Combustible Tobacco — Total Net Revenues ($M)($M)6	6,812	6,547	5,767	6,008	6,400	5,979	5,407	5,819	6,134	5,858	5,407	5,489
Combustible Tobacco Total — Reported Revenue YoY (%)(%)	6.4%	9.5%	6.7%	3.3%	4.3%	2.1%		6.0%	5.2%	1.2%	3.5%
Combustible Tobacco Total — Revenue Growth ex-Currency YoY (%)(%)	7.7%	6.1%	0.9%	0.3%	1.0%	2.0%	3.8%	6.2%	8.6%	4.8%	5.2%
Combustible Tobacco Total — Organic Revenue Growth YoY (%)(%)	7.7%	6.1%	0.9%	0.3%	1.0%	2.0%	3.8%	6.2%	8.6%	4.8%	5.2%
Combustible Tobacco Total — Currency Impact ($M)($M)	-81	200	310	169	202	5	-208	-10	-200	-211	-90
Combustible Tobacco — International Combustibles — Net Revenues ($M)($M)4	6,725	6,459	5,688	5,911	6,316	5,883	5,326	5,720	6,041	5,748	5,299	5,391
Combustible Tobacco — International Combustibles — Reported Revenue YoY (%)(%)	6.5%	9.8%	6.8%	3.3%	4.6%	2.3%	0.5%	6.1%	4.4%	1.9%	-1.0%
Combustible Tobacco — International Combustibles — Revenue Growth ex-Currency YoY (%)(%)	7.8%	6.4%	1.0%	0.4%	1.2%	2.3%	4.4%	6.3%	7.9%	5.6%	4.2%
Combustible Tobacco — International Combustibles — Organic Revenue Growth YoY (%)(%)	7.8%	6.4%	1.0%	0.4%	1.2%	2.3%	4.4%	6.3%	7.9%	5.6%	5.9%
Combustible Tobacco — International Combustibles — Currency Impact ($M)($M)	-81	200	310	169	202	5	-208	-10	-200	-211	-90
Combustible Tobacco — U.S. Cigars (deconsolidated after Q4 2024, $M)($M)2	87	88	79	97	84	96	81	99	93	110	108	98
U.S. Combustible Tobacco — Reported Revenue YoY (%)(%)	4.2%	-8.5%	-2.5%	-2.1%	-10.1%	-12.3%	-25.1%	1.1%	90.6%	-25.9%	-20.3%
U.S. Combustible Tobacco — Organic Revenue Growth YoY (%)(%)	4.2%	-8.5%	-2.5%	-2.1%	-10.1%	-12.3%	-25.1%	1.1%	90.6%	-25.9%	-20.3%
Adjusted Gross Profit — Total PMI Consolidated ($M)($M)11	7,860	14,576	6,911	6,813	7,366	6,872	6,275	6,293	6,563	6,143	5,620	5,604
Reported Gross Profit — Total PMI ($M)($M)	7,854	14,564	6,905	6,807	7,361	6,866	6,270	6,288	6,549	6,127	5,604	5,586
Adjusted Gross Profit Organic Growth YoY — Total PMI (%)(%)	8.3%	6.4%	3.8%	5.1%	8.7%	11.2%	16.0%	12.6%	13.0%	11.5%	13.7%
Adjusted Gross Profit Margin — Total PMI (%)(%)	68.7%	68.3%	68.1%	65.7%	67.9%	67.8%	67.5%	64.8%	66.2%	64.9%	63.9%	61.9%
Adjusted Gross Margin Organic Change YoY — Total PMI (pp)(%)	0.8%	0.7%	0.7%	0.9%	1.8%	2.7%	3.4%	3.1%	0.8%	1.1%	1.5%
Gross Profit Pricing Variance — Total PMI ($M)($M)	739	1,150	461	285	305	420	526	482	689	583	449
Gross Profit Volume/Mix Variance — Total PMI ($M)($M)	-23	-238	-335	75	258	301	450	148	163	158	295
Gross Profit Cost Variance — Total PMI ($M)($M)	-104	-75	112	-39	11	-33	-75	90	-80	-74	59
Gross Profit Currency Impact — Total PMI ($M)($M)	-112	595	397	215	240	47	-235	-32	-225	-296	-186
Adjusted Gross Profit — International Smoke-Free ($M)($M)8	2,705	5,402	2,685	2,489	2,683	2,319	2,087	2,058	2,089	1,917	1,769	1,936
Reported Gross Profit — International Smoke-Free ($M)($M)	2,705	5,400	2,684	2,488	2,683	2,319	2,087	2,058	2,088	1,916	1,768	1,935
Adjusted Gross Profit Organic Growth YoY — International Smoke-Free (%)(%)	3.3%	16.9%	19.4%	15.2%	22.6%	18.5%	23.6%	7.0%	12.4%	17.2%	34.3%
Adjusted Gross Profit Margin — International Smoke-Free (%)(%)	70.0%	70.0%	70.0%	67.5%	69.9%	68.3%	67.9%	65.2%	67.4%	63.6%	62.1%	63.3%
Adjusted Gross Margin Organic Change YoY — International Smoke-Free (pp)(%)	0.0%	1.9%	2.1%	2.3%	2.6%	4.7%	6.1%	2.4%	0.7%	1.3%	5.8%
Gross Profit Pricing Variance — International Smoke-Free ($M)($M)	21	174	88	45	51	4	-3	-29	39	63	61
Gross Profit Volume/Mix Variance — International Smoke-Free ($M)($M)	87	488	290	222	382	299	384	101	176	224	375
Gross Profit Manufacturing/Cost Variance — International Smoke-Free ($M)($M)	-18	83	27	46	39	52	37	64	24	14	44
Gross Profit Currency Impact — International Smoke-Free ($M)($M)	-60	254	192	118	123	47	-99	-13	-81	-146	-108
Adjusted Gross Profit — International Combustibles ($M)($M)8	4,610	8,229	3,842	3,844	4,244	3,936	3,499	3,629	3,919	3,731	3,407	3,274
Reported Gross Profit — International Combustibles ($M)($M)	4,610	8,229	3,842	3,844	4,244	3,936	3,499	3,629	3,919	3,731	3,407	3,270
Adjusted Gross Profit Organic Growth YoY — International Combustibles (%)(%)	9.8%	6.1%	3.9%	3.2%	5.3%	5.1%	6.1%	11.0%	8.8%	5.8%	2.0%
Adjusted Gross Profit Margin — International Combustibles (%)(%)	68.5%	67.7%	67.5%	65.0%	67.2%	66.9%	65.7%	63.5%	64.9%	64.9%	64.3%	60.7%
Adjusted Gross Margin Organic Change YoY — International Combustibles (pp)(%)	1.3%	1.5%	1.9%	1.7%	2.6%	1.8%	1.0%	2.7%	0.6%		-1.5%
Gross Profit Pricing Variance — International Combustibles ($M)($M)	565	1,042	454	389	511	421	449	459	577	493	382
Gross Profit Volume/Mix Variance — International Combustibles ($M)($M)	-99	-522	-444	-249	-306	-170	-137	-106	-153	-188	-219
Gross Profit Manufacturing/Cost Variance — International Combustibles ($M)($M)	-48	-68	128	-24	2	-59	-104	11	-87	-94	-15
Gross Profit Currency Impact — International Combustibles ($M)($M)	-52	342	205	98	117	1	-136	-18	-144	-151	-79
Adjusted Gross Profit — U.S. Segment ($M)($M)7	544	945	385	481	439	616	689	606	555	494	445	396
Reported Gross Profit — U.S. Segment ($M)($M)	539	935	380	476	434	611	685	601	541	479	429	382
Adjusted Gross Profit Organic Growth YoY — U.S. Segment (%)(%)	23.8%	-27.5%	-44.1%	-17.8%	-18.8%	28.1%	62.0%	52.7%	61.1%	42.5%	52.3%
Adjusted Gross Profit Margin — U.S. Segment (%)(%)	64.4%	63.9%	61.9%	62.9%	63.7%	71.4%	76.6%	73.2%	72.2%	70.1%	69.1%	66.2%
Adjusted Gross Margin Organic Change YoY — U.S. Segment (pp)(%)	0.6%	-9.7%	-14.0%	-11.4%	-9.9%	0.2%	6.7%	7.1%	2.1%	9.2%	11.9%
Gross Profit Pricing Variance — U.S. Segment ($M)($M)	153	-65	-80	-150	-255	-7	81	53	72	26	5
Gross Profit Volume/Mix Variance — U.S. Segment ($M)($M)	-9	-205	-181	102	182	173	203	154	140	121	140
Gross Profit Manufacturing/Cost Variance — U.S. Segment ($M)($M)	-39	-89	-43	-60	-31	-27	-8	13	-16	6	31
Adjusted Operating Income — Total PMI Consolidated ($M)($M)10	5,117	8,941	4,168	3,911	4,670	8,036	3,790	3,649	4,269	3,823	3,654	3,309
Reported Operating Income / OCI — Total PMI ($M)($M)	4,866	8,423	3,893	3,562	4,303	3,837	3,842	3,389	3,770	3,611	3,377	3,146
Reported Operating Income Growth YoY — Total PMI (%)(%)	9.6%	11.3%	10.0%	7.2%	10.3%	14.3%	11.9%	10.3%	8.7%	5.4%	14.8%
Adjusted OCI — Total International (Recast 2023–2025, $M)($M)				3,745	4,542	4,019	3,650	3,372	3,975	3,570	3,412	3,143
Adjusted OCI — U.S. Segment (Recast 2023–2025, $M)($M)				167	168	353	437	277	293	253	242	165
Adjusted OCI Margin — Total PMI (Recast 2023–2025, %)(%)				37.7%	43.4%	43.1%	44.0%	37.6%	43.1%	40.4%	41.6%	36.6%
Adjusted OCI Margin — Total International (Recast 2023–2025, %)(%)				39.0%	44.7%	43.3%	43.4%	38.0%	43.5%	40.7%	41.9%	37.2%
Adjusted OCI Margin — U.S. Segment (Recast 2023–2025, %)(%)				21.8%	24.4%	40.9%	48.6%	33.5%	38.1%	35.9%	37.6%	27.5%
Operating Income Pricing Variance — Total PMI ($M)($M)	739	1,150	461	285	305	420	526	482	689	583	449
Operating Income Volume/Mix Variance — Total PMI ($M)($M)	-23	-238	-335	75	258	301	450	148	163	158	295
Operating Income Cost/SG&A Variance — Total PMI ($M)($M)	-71	-161	-119	-289	-173	-523	-399	-341	-467	461	-65
Adjusted Diluted EPS ($/share)($)5	2.36	2.20	1.96	1.70	2.24	1.91	1.69	1.55
Adjusted Diluted EPS YoY (%)(%)	5.4%	15.2%	16.0%	9.7%				14.0%
Adjusted Diluted EPS, excluding Currency ($/share)($)	2.37	2.17	1.78	1.69				1.49
Adjusted Diluted EPS ex-Currency YoY (%)(%)	5.8%	13.6%	5.3%	9.0%				9.6%
Reported Diluted EPS ($/share)($)	2.12	1.80	1.56	1.37	2.23	1.95	1.72	-0.38
Reported Diluted EPS YoY (%)(%)	-4.9%	-7.7%	-9.3%
Net Debt to Adjusted EBITDA Ratio (Rolling 12 Months, x)(×)4	2.17	2.35	2.61	2.53
Total Debt to Adjusted EBITDA Ratio (Rolling 12 Months, x)(×)	2.53	2.68	2.92	2.81
Rolling 12-Month Adjusted EBITDA ($M)($M)	18,830	18,359	17,795	17,375
Net Debt ($M)($M)	40,879	43,114	46,498	43,963
Total Debt (Non-GAAP Schedule 7, $M)($M)	47,562	49,113	51,948	48,835
Full-Year Guidance: Adjusted Diluted EPS ex-Currency — Low ($/share)($)13	8.11	8.11	8.11	8.11	7.36	7.33	7.26
Full-Year Guidance: Adjusted Diluted EPS ex-Currency — High ($/share)($)	8.26	8.26	8.26	8.26	7.46	7.46	7.39
Full-Year Guidance: Adjusted Diluted EPS ex-Currency Growth — Low (%)(%)	7.5%	7.5%	7.5%	7.5%	13.5%	13.0%	12.0%
Full-Year Guidance: Adjusted Diluted EPS ex-Currency Growth — High (%)(%)	9.5%	9.5%	9.5%	9.5%	15.1%	15.0%	14.0%
Full-Year Guidance: Adjusted Diluted EPS — Low ($/share)($)	8.29	8.26	8.31	8.39	7.46	7.43	7.36
Full-Year Guidance: Adjusted Diluted EPS — High ($/share)($)	8.44	8.41	8.46	8.54	7.56	7.56	7.49
Full-Year Guidance: Reported Diluted EPS — Low ($/share)($)	7.11	7.19	7.39	7.87	7.08	7.24	7.01
Full-Year Guidance: Reported Diluted EPS — High ($/share)($)	7.26	7.34	7.54	8.02	7.18	7.37	7.14
Full-Year Guidance: Organic Net Revenue Growth — Low (%)(%)	5.0%	5.0%	5.0%	5.0%	6.0%	6.0%	6.0%
Full-Year Guidance: Organic Net Revenue Growth — High (%)(%)	7.0%	7.0%	7.0%	7.0%	8.0%	8.0%	8.0%
Full-Year Guidance: Organic Operating Income Growth — Low (%)(%)	7.0%	7.0%	7.0%	7.0%	10.0%	11.0%	10.5%
Full-Year Guidance: Organic Operating Income Growth — High (%)(%)	9.0%	9.0%	9.0%	9.0%	11.5%	12.5%	12.5%
Full-Year Guidance: Operating Cash Flow ($ billions)($M)	13,500	13,500	13,500	13,500	11,500	11,500	11,000
Full-Year Guidance: Capital Expenditures ($ billions)($M)	1,500	1,500	1,500	1,500	1,600	1,600	1,500

Legacy 4-Region Shipment Volume — Total PMI Cigarettes + HTU (million units, FY2022–FY2025)4
Europe Region (Legacy 4-Region Structure) — Total Cigarettes + HTU Shipment Volume (million units)2
Europe Region (Legacy 4-Region Structure) — Heated Tobacco Units (HTU) Shipment Volume (million units)(M)				16,289	15,669	14,292	13,072	15,195	14,199	12,935	11,340	14,310
Europe Region (Legacy 4-Region Structure) — Snus (million cans)(M)				48.5	52.5	54.6	56.5	57.5	60.5	58	60.7	61.1
SSEA, CIS & MEA Region (South & Southeast Asia, CIS, Middle East & Africa) — Total Cigarettes + HTU Shipment Volume (million units)1
SSEA, CIS & MEA Region (South & Southeast Asia, CIS, Middle East & Africa) — Heated Tobacco Units (HTU) Shipment Volume (million units)(M)				9,236	8,717	7,863	6,502	8,428	7,127	6,937	6,078	7,502
EA, AU & PMI GTR Region (East Asia, Australia & Global Travel Retail) — Total Cigarettes + HTU Shipment Volume (million units)2
EA, AU & PMI GTR Region (East Asia, Australia & Global Travel Retail) — Heated Tobacco Units (HTU) Shipment Volume (million units)(M)				12,681	16,272	16,451	17,364	11,945	13,864	15,474	15,599	11,958
EA, AU & PMI GTR Region (East Asia, Australia & Global Travel Retail) — Snus (million cans)(M)				2.90	3	4.40	3.10
Americas Region (Legacy 4-Region Structure) — Total Cigarettes + HTU Shipment Volume (million units)2
Americas Region (Legacy 4-Region Structure) — Heated Tobacco Units (HTU) Shipment Volume (million units)(M)				192	178	204	151	150	157	198	117	202
Americas Region (Legacy 4-Region Structure) — Snus (million cans)(M)				0.50	0.70	0.60	0.60	0.70	0.70	0.80	0.70	0.80
Japan — PMI Total Shipment Volume (million units, FY2020–FY2025)(M)5				13.3	17.7	18	18.9	13.7	15.7	17.5	17.9	13.9
Italy — PMI Total Shipment Volume (million units, FY2020–FY2025)(M)5				10.7	10.8	10.1	8.60	10.1	10.5	10.6	8	10.6
Germany — PMI Total Shipment Volume (million units, FY2020–FY2025)(M)5				6.70	6.60	6.90	6	6.60	7	6.80	6.30	6.60
Poland — PMI Total Shipment Volume (million units, FY2020–FY2025)(M)5				5.40	6.40	6.20	5.20	6.20	6.90	6.50	6.10	5.60
Spain — PMI Total Shipment Volume (million units, FY2020–FY2025)(M)5				3.20	3.40	3.50	3.20	2.80	3.60	3.50	2.80	2.90
France — PMI Total Shipment Volume (million units, FY2020–FY2025)(M)4				2.40	2.30	2.70	2.40	2.40	2.40	3.30	2.60	2.80
South Korea — PMI Total Shipment Volume (million units, FY2020–FY2025)(M)5				3.30	3.80	3.50	3.30	3.40	3.70	3.60	3.40	3.40
Indonesia — PMI Total Shipment Volume (million units, FY2020–FY2025)(M)5				20	20.2	18.9	20.4	20.3	20.7	19.6	20.2	20.3
Philippines — PMI Total Shipment Volume (million units, FY2020–FY2025)(M)5				5.50	5.40	5.50	5.60	5.30	5.30	5.10	5.50	5.80
Turkey — PMI Total Shipment Volume (million units, FY2020–FY2025)(M)3				18.8	19.8	18.7	17.1	20.4	21.4	20.3	16	18.7
Russia — PMI Total Shipment Volume (million units, FY2020–FY2025)(M)5				16.7	18.4	18.3	16.4	18	19	17.4	15.5	16.5
Egypt — PMI Total Shipment Volume (million units, FY2020–FY2025)(M)5				6.50	6.80	6.70	5.90	5.40	6.50	6.70	5.30	6.20
Australia — PMI Total Shipment Volume (million units, FY2020–FY2025)(M)3				0.20	0.20	0.10	0.50	0.40	0.50	0.40	0.50	0.50
Mexico — PMI Total Shipment Volume (million units, FY2020–FY2025)(M)5				5.60	4	4.70	3.30	5.60	4.60	4.60	3.70	5.70
Argentina — PMI Total Shipment Volume (million units, FY2020–FY2025)(M)3				4.40	4.10	4.10	4.50	4.50	3.90	3.60	4.40	4.40

Excise Taxes on Products (Deducted from Gross Revenues, $M)($M)	15,139	14,973	12,853	13,716	14,221	13,272	12,002	13,028	13,773	12,923	11,839	12,264
Net Revenues from Related Parties (Megapolis / Distribution Affiliates, $M)($M)	1,312	1,255	1,185	1,195	1,307	1,143	937	1,010	1,045	961	860	922
Segment Cost of Sales — Total PMI (10-Q Segment Footnote, $M)($M)4	3,584	3,533	3,241		3,484	3,274	3,031
International Smoke-Free — Segment Cost of Sales ($M)($M)	1,162	1,161	1,152		1,157	1,076	990
International Combustibles — Segment Cost of Sales ($M)($M)	2,115	2,071	1,847		2,072	1,947	1,827
U.S. Segment — Segment Cost of Sales ($M)($M)	306	301	242		255	252	215
Depreciation & Amortization — Total PMI (10-Q Segment Footnote, $M)($M)4	511	513	510		505	490	480
International Smoke-Free — Segment D&A ($M)($M)	93	90	90		92	82	78
International Combustibles — Segment D&A ($M)($M)	67	69	67		73	72	71
U.S. Segment — Segment D&A ($M)($M)	27	27	27		22	22	23
Other / Unallocated D&A ($M)($M)	324	327	326		318	314	308

PT HM Sampoerna Tbk (HMSP.JK, Indonesia) — Total Net Revenues (IDR billions)(M)10	31,016	29,291	27,204	28,429	28,570	26,385	28,789	29,412	30,651	28,710	29,107
HMSP — Machine-Made Clove Cigarettes (SKM) Net Revenues (IDR billions)(M)	18,282	17,691	16,536	15,975	15,368	14,372	15,693	15,729	16,630	16,598	17,287
HMSP — Hand-Rolled Clove Cigarettes (SKT) Net Revenues (IDR billions)(M)	9,415	8,636	7,773	9,364	9,910	9,101	9,833	10,756	11,074	9,289	9,106
HMSP — Machine-Made White Cigarettes (SPM) Net Revenues (IDR billions)(M)	1,461	1,304	1,369	1,374	1,469	1,247	1,766	1,596	1,581	1,797	1,861
HMSP — Hand-Rolled White Tobacco (SPT) Net Revenues (IDR billions)(M)	241	217	220	238	232	230	259	263	218	213	218
HMSP — Smoke-Free Products (IQOS / HEETS / TEREA) Domestic Net Revenues (IDR billions)(M)	746	593	637	658	658	688	443			374	318
HMSP — Export Sales to Related Parties (IDR billions)(M)	599	551	468	456	686	455	559	404	475	290	206
HMSP — Excise Tax Expense Included in Cost of Sales (IDR billions)(M)	17,890	18,470	16,274	15,678	15,821	15,195	16,946	15,004	15,752	16,317	17,203
HMSP — Total Cost of Good Sold (IDR billions)(M)	25,612	23,679	22,204	23,222	22,806	21,760	23,767	24,638	25,581	24,777	24,352
HMSP — Gross Profit (IDR billions)(M)	5,404	5,612	5,000	5,207	5,763	4,625	5,022	4,774	5,071	3,933	4,756
HMSP — Net Profit (IDR billions)(M)	2,321	2,138	2,056	2,098	2,383	210	1,918	1,421	1,908	1,070	2,247

Peer Benchmark: Altria Group (MO) — Total U.S. Oral Tobacco Domestic Shipment Volume (million cans & packs)(M)3		182	170	180	178	199	175	192	197	201	185	193
Altria Group (MO) — on! Nicotine Pouches U.S. Shipment Volume (million cans, direct competitor to ZYN)(M)		49.9	46.2	44.2	42.2	52.1	39.3	43.9	41.9	41.2	33.3	30.4
Altria Group (MO) — on! Retail Share of Total U.S. Oral Tobacco Category (%)(%)		8.6%	7.8%	8.4%	8.7%	8.3%	8.6%	8.5%	8.8%	8.0%	7.9%	6.9%
Altria Group (MO) — Total Oral Tobacco Retail Share of U.S. Category (%)(%)		29.0%	29.0%	32.8%	31.1%	32.7%	34.5%	33.8%	37.2%	37.7%	37.5%	39.9%
Peer Benchmark: Altria Group (MO) — U.S. Marlboro Domestic Cigarette Shipment Volume (million sticks)(M)2		13,389	11,960	13,262	14,235	14,458	12,978	15,173	16,122	16,316	14,973	16,462
Altria Group (MO) — Total U.S. Smokeable Domestic Cigarette Shipments (million sticks)(M)				15,739	16,645	16,545	14,609	17,024	18,085	18,360	16,867	18,623
Altria Group (MO) — Marlboro Retail Share of U.S. Cigarette Category (%)(%)		39.5%	39.7%	39.8%	40.4%	41.0%	41.1%	41.3%	41.6%	41.9%	42.0%	42.3%

Net Revenues (GAAP Consolidated, $M)($M)13	11,438	11,192	10,146	10,362	10,845	10,140	9,301	9,706	9,911	9,468	8,793	9,047
Cost of Sales ($M)($M)	3,584	3,533	3,241	3,560	3,487	3,274	3,031	3,423	3,366	3,345	3,195	3,462
Gross Profit ($M)($M)	7,854	7,659	6,905	6,802	7,358	6,866	6,270	6,283	6,545	6,123	5,598	5,585
Operating Income ($M)($M)	4,866	4,530	3,893	3,373	4,263	3,712	3,544	3,259	3,654	3,444	3,045	2,889
Earnings Before Income Taxes ($M)($M)	4,594	4,292	3,661	3,146	4,019	3,424	3,291	2,917	3,450	3,101	2,731	2,607
Provision for Income Taxes ($M)($M)	986	955	676	675	751	652	659	872	735	734	676	320
Net Earnings (Consolidated, $M)($M)	3,522	2,985	2,582	2,250	3,613	3,148	2,837	-486	3,215	2,528	2,246	2,313
Net Earnings Attributable to Noncontrolling Interests ($M)($M)	209	168	144	109	135	109	147	93	133	122	98	117
Net Earnings Attributable to PMI ($M)($M)	3,313	2,817	2,438	2,141	3,478	3,039	2,690	-579	3,082	2,406	2,148	2,196
Basic Earnings Per Share ($/share)($)	2.12	0	0		0	0	0		0	0	0
Diluted Earnings Per Share ($/share)($)	2.12	0	0		0	0	0		0	0	0
Dividends Declared Per Share ($/share)($)	1.60	0	0	0	0	0	0	0	0	0	0	0
Weighted-Average Shares — Basic (millions)(M)	1,559	1,559	1,558		1,557	1,557	1,556		1,555	1,555	1,553
Weighted-Average Shares — Diluted (millions)(M)	1,560	1,560	1,559		1,558	1,558	1,557		1,556	1,556	1,555
Total Assets ($M)($M)8	66,730	68,271	68,913	69,185	67,061	68,506	65,079	61,784	66,892	65,782	65,315	65,304
Cash and Cash Equivalents ($M)($M)	6,683	5,999	5,450	4,872	4,037	4,176	4,476	4,254	4,301	4,876	4,099	3,146
Accounts Receivable, Net ($M)($M)		5,179	5,120	4,572	4,796	4,994	4,880	3,789	4,239	4,240	4,188	3,461
Inventories ($M)($M)		11,436	11,392	11,478	10,267	10,728	10,127	9,453	9,355	9,382	9,970	10,774
Property, Plant and Equipment, Net ($M)($M)	8,369	8,313	8,259	8,397	8,115	8,043	7,532	7,310	7,548	7,264	7,201	7,516
Goodwill ($M)($M)	16,789	16,917	17,069	17,264	17,181	17,225	16,864	16,600	17,144	16,819	16,458	16,779
Other Intangible Assets, Net ($M)($M)	9,824	10,178	10,512	10,884	11,146	11,382	11,345	11,327	11,916	12,171	9,448	9,864
Total Liabilities ($M)($M)	72,675	74,928	76,213	77,213	76,045	78,518	74,005	71,654	74,605	73,724	73,878	74,750
Total Stockholders' Equity (Deficit) ($M)($M)	-5,945	-6,657	-7,300	-8,028	-8,984	-10,012	-8,926	-9,870	-7,713	-7,942	-8,563	-9,446
Operating Cash Flow ($M)($M)3	5,352	5,492	-399	4,709	4,462	3,412	-350	4,002	3,342	4,632	241	3,302
Depreciation and Amortization ($M)($M)	511	513	510	521	505	490	480	477	498	445	367
Capital Expenditures ($M)($M)		380	353	444	365	356	404	278	379	370	417	311
Dividends Paid ($M)($M)		-2,297	-2,307	-2,295	-2,107	-2,106	-2,116	-2,106	-2,027	-2,027	-2,037	-2,023
DB Product Revenue: Combustible Tobacco Products ($M)($M)5	6,812	6,547	5,767	6,008	6,400	5,979	5,407	5,819	6,134	5,858	5,407	5,489
DB Product Revenue: Smoke-Free Products ($M)($M)	4,625	4,645	4,379	4,354	4,445	4,161	3,895	3,887	3,777	3,610	3,386	3,558
DB Legacy Segment Revenue: Europe Region (through FY2025, $M)($M)				4,598	4,719	4,234	3,560	4,143	4,197	3,895	3,455	4,072
DB Legacy Segment Revenue: SSEA, CIS & MEA Region (through FY2025, $M)($M)				3,109	3,273	2,926	2,743	2,868	2,964	2,771	2,658	2,707
DB Legacy Segment Revenue: EA, AU & PMI GTR Region (through FY2025, $M)($M)				1,425	1,768	1,708	1,731	1,434	1,602	1,673	1,684	1,430
DB Legacy Segment Revenue: Americas Region (through FY2025, $M)($M)				1,230	1,085	1,272	1,267	1,261	1,148	1,129	996	1,075

1 metric has no data in the last 12 quarters — .

Italic numbers are calculated by StockData from reported figures (hover for the formula). Numbers with a dotted underline are read from the text of earnings releases and presentations; hover to see the exact sentence. Tick a row to add it to the chart above (up to 8 lines).

Methodology and excluded metrics

Primary operational keys: Shipment Volume (in million and billion equivalent units, million cans, and million pouches) across Cigarettes, Heated Tobacco Units (HTUs — IQOS/TEREA/HEETS), Oral Smoke-Free Products (ZYN, Snus, Moist Snuff), and E-Vapor (VEEV) by operating segment (International Smoke-Free, International Combustibles, U.S.), alongside In-Market Sales (IMS) growth, category market share across 15 key international markets, and estimated adult smoke-free users.
All growth rates, margins, shares, and organic variance bridges (Pricing, Volume/Mix, Cost, Currency, Acquisitions/Divestitures) are directly reported by the company. The only computed cells are period splits from cumulative figures (Q4 = full year − nine months; quarterly = year-to-date − prior year-to-date for DB cash flows, Excise Taxes, Related-Party Revenues, and PT HM Sampoerna Tbk quarterly financial statements), marked with YTD_NOTE and Q4_NOTE.
Listed & statutory subsidiaries are self-reported in their own local currencies: PT HM Sampoerna Tbk (IDX: HMSP.JK, Indonesia, 92.5% owned, IDR billions), Philip Morris ČR a.s. (PSE: TABAK.PR, Czechia & Slovakia, 77.6% owned, CZK millions), Philip Morris (Pakistan) Limited (PSX: PMPK, 97.6% owned, PKR millions), and UK Companies House filings for Philip Morris Limited (#03619145) & Vectura Group Limited (#03418970, £ millions).
No Consolidated − Standalone calculation: PMI reports under U.S. GAAP as a holding company without standalone parent-only quarterly operational statements.

Not shown because recent periods are missing (7)

3. Segment Economics, Organic Growth Bridges, Non-GAAP Reconciliations & Guidance › Net Revenues — Total PMI Consolidated & Organic Growth Bridge ($M) › Acquisitions & Divestitures Impact on Net Revenues — Total PMI ($M)
3. Segment Economics, Organic Growth Bridges, Non-GAAP Reconciliations & Guidance › Net Revenues — Total PMI Consolidated & Organic Growth Bridge ($M) › Net Revenues — International Smoke-Free Segment ($M) › International Smoke-Free Segment — Acquisitions & Divestitures Impact on Net Revenues ($M)
3. Segment Economics, Organic Growth Bridges, Non-GAAP Reconciliations & Guidance › Smoke-Free Business — Total Net Revenues ($M) › Smoke-Free Total — Acquisitions & Divestitures Impact ($M)
3. Segment Economics, Organic Growth Bridges, Non-GAAP Reconciliations & Guidance › Adjusted Gross Profit — Total PMI Consolidated ($M) › Adjusted Gross Profit — U.S. Segment ($M) › Gross Profit Currency Impact — U.S. Segment ($M)
9. Financial & Segment Context (DB + Q3 2026 Supplement; Absolute Values Only) › Net Revenues (GAAP Consolidated, $M) › Marketing, Administration and Research Costs ($M)
9. Financial & Segment Context (DB + Q3 2026 Supplement; Absolute Values Only) › Net Revenues (GAAP Consolidated, $M) › Interest Expense, Net ($M)
9. Financial & Segment Context (DB + Q3 2026 Supplement; Absolute Values Only) › Total Assets ($M) › Total Debt ($M)

Data updated 2026-10-28.

Every KPI on its own page

Full history, chart, sources and a citation for each metric

Philip Morris International Inc. (PM) operating KPIs

KPIs

Every KPI on its own page

1. Core Shipment Volume & Oral Pouches/Cans by Product Category & Segment

2. Smoke-Free Transformation, Users, Market Share & In-Market Sales (IMS)

3. Segment Economics, Organic Growth Bridges, Non-GAAP Reconciliations & Guidance

4. Legacy 4-Region Shipment Volume & 15 Key Country Markets (FY2020–FY2025)

5. Excise Taxes, Related-Party Revenues, Footprint, Inventories, Monthly Buybacks & 3TG Supply Chain

6. ESG: Climate (Scope 1, 2, 3), Energy, Water, Circularity, Agriculture & Workforce

7. Listed & Statutory Subsidiaries (Self-Reported: Indonesia, Czechia & Slovakia, Pakistan, UK)

8. U.S. Tobacco & Nicotine Industry Benchmarks (BLS Monthly CPI/PPI & Altria Group `MO`)

9. Financial & Segment Context (DB + Q3 2026 Supplement; Absolute Values Only)