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Philip Morris International sells tobacco products outside the United States and is shifting toward smoke-free alternatives such as its IQOS heated-tobacco system.
For the fiscal year ended December 31, 2025, Philip Morris International Inc. reported revenue of $40.6B and net income of $11.3B, with operating cash flow of $12.2B. Source: Form 10-K filed February 6, 2026
Reported SEC XBRL figures. Each metric’s period and original filing are listed below.
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That transition is central to its long-term growth narrative.
Reported figures from Philip Morris International Inc.'s filings, pulled directly from SEC XBRL data rather than a third-party terminal. Each row links to the filing it came from.
| Metric | Value | Period | Source |
|---|---|---|---|
| Revenue | $40.6B | 2025-01-01 – 2025-12-31 | SEC filing |
| Net income | $11.3B | 2025-01-01 – 2025-12-31 | SEC filing |
| Operating cash flow | $12.2B | 2025-01-01 – 2025-12-31 | SEC filing |
| Diluted EPS | $7.26 | 2025-01-01 – 2025-12-31 | SEC filing |
| Net margin | 27.9% | 2025-01-01 – 2025-12-31 | SEC filing |
| Shares outstanding | 1.56B | As of 2026-01-30 | SEC filing |
Values are as tagged by the issuer in XBRL. Revenue for banks and insurers is net of interest expense where that is the reported line. Fiscal years that do not follow the calendar are shown by their period-end date. No price, market cap, or valuation multiple is shown because Yield Theory does not republish unlicensed market data.
Diluted EPS is the earnings figure behind the price-to-earnings ratio; the P/E multiple compression calculator shows how a change in that multiple moves a share price. Shares outstanding multiplied by the share price gives market capitalization.
For Philip Morris International Inc., the most important recurring operating and market variables are:
Each question starts with what the filings show, then why it matters. None of these is a rating or a forecast.
Compare growth in IQOS heated tobacco and ZYN oral nicotine against the ongoing decline in combustible cigarette volumes. The speed of that mix shift determines whether overall growth accelerates or merely offsets legacy decline.
Reduced-risk products face inconsistent rules from country to country, from flavor bans to taxation. Shifts in a single large market can meaningfully move growth expectations for IQOS or ZYN.
ZYN's growth in the US, gained through the Swedish Match acquisition, depends on manufacturing capacity and continued category adoption. Capacity constraints or new competition could slow that growth line.
With no US cigarette sales, reported results are more exposed to currency swings than domestically focused peers. Assess how much reported growth is organic versus currency translation.
Operating cash flow was $12.2B, 1.08 times net income of $11.3B, for the fiscal year ended December 31, 2025.
Cash from operations exceeded reported earnings. Non-cash charges such as depreciation, amortization and stock-based compensation usually explain the gap; the cash-flow statement shows which.
Net income was 27.9% of revenue for the fiscal year ended December 31, 2025, based on revenue and net income reported for the same period.
Net margin reflects the business model as much as execution, so compare it with companies in the same SEC industry and read the income statement for one-time items before treating it as a run rate.
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Read the full researchHow we source and review company pages: research methodology.
| Politician | Trade date | Type | Owner | Amount | Source |
|---|---|---|---|---|---|
| Alan Armstrong | 2026-03-27 | Purchase | Self | $1,001 - $15,000 | Filing #fda235b3-bad7-4637-8fa1-053f354d929c |
| Julia Letlow | 2026-02-05 | Sale | Self | $1,001 - $15,000 | Filing #20034106 |
| Julie Johnson | 2025-12-18 | Sale | Joint | $1,001 - $15,000 | Filing #20033789 |
| Julie Johnson | 2025-11-13 | Sale | Joint | $1,001 - $15,000 | Filing #20033611 |
| Julie Johnson | 2025-08-14 | Sale | Joint | $1,001 - $15,000 | Filing #20032066 |
| Julie Johnson | 2025-07-22 | Sale | Joint | $1,001 - $15,000 | Filing #20030909 |
| Lisa McClain | 2025-07-10 | Sale | Spouse | $1,001 - $15,000 | Filing #20030891 |
| Lisa McClain | 2025-06-24 | Purchase | Spouse | $1,001 - $15,000 | Filing #20030891 |
| Jefferson Shreve | 2025-05-12 | Sale | Self | $100,001 - $250,000 | Filing #20030387 |
| Greg Landsman | 2025-03-27 | Sale | Joint | $15,001 - $50,000 | Filing #20029084 |
All verified PM congressional disclosures
Congressional disclosures are delayed, range-based records—not real-time signals or proof of motive. See the source-linked tracker for scope and limitations.
Philip Morris International sells tobacco products outside the United States and is shifting toward smoke-free alternatives such as its IQOS heated-tobacco system.
For the fiscal year ended December 31, 2025, Philip Morris International Inc. reported revenue of $40.6B and net income of $11.3B, with operating cash flow of $12.2B. The figures come from Philip Morris International Inc.'s SEC XBRL filings.
The SEC lists Philip Morris International Inc.'s fiscal year end as December 31.
The current verified House and Senate snapshot contains 12 transaction rows for PM, each linked to the original filing.
Philip Morris International Inc. is headquartered in Stamford, Connecticut and was founded in 2008.
This page does not rate PM as a buy or sell. It sets out what Philip Morris International Inc. reports, what investors should watch and the questions a thesis has to answer, with links to the SEC filings. It is research, not investment advice.
This page is independent research and educational information, not investment advice or a recommendation to buy or sell any security. Company facts are compiled from public sources. Do your own research.
Financials describe the business. The next question is which assumptions an investment thesis depends on. Explore the member reports below for analysis of catalysts, risks, and what would change the view. $39/month or $249/year.
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