Philip Morris International Inc.

NYSE:PM Stock Report

Market Cap: US$264.9b

Philip Morris International Valuation

Is PM undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

1/6

Valuation Score 1/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of PM when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Discounted Cash Flow
Simply Wall St
US$208.77
Fair Value
18.4% undervalued intrinsic discount
16
Number of Analysts

Below Fair Value: PM ($170.32) is trading below our estimate of fair value ($208.77)

Significantly Below Fair Value: PM is trading below fair value, but not by a significant amount.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for PM?

Key metric: As PM is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for PM. This is calculated by dividing PM's market cap by their current earnings.
What is PM's PE Ratio?
PE Ratio32.3x
EarningsUS$8.21b
Market CapUS$264.90b

Price to Earnings Ratio vs Peers

How does PM's PE Ratio compare to its peers?

The above table shows the PE ratio for PM vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average19.2x
MO Altria Group
12.6x2.36%US$107.8b
KO Coca-Cola
25x5.99%US$302.7b
PEP PepsiCo
26.3x10.86%US$198.8b
UVV Universal
12.9xn/aUS$1.3b
PM Philip Morris International
32.3x12.51%US$264.9b

Price-To-Earnings vs Peers: PM is expensive based on its Price-To-Earnings Ratio (32.3x) compared to the peer average (19.2x).

Price to Earnings Ratio vs Industry

How does PM's PE Ratio compare vs other companies in the Global Tobacco Industry?

0 CompaniesPrice / EarningsEstimated GrowthMarket Cap
PM 32.3xIndustry Avg. 11.5xNo. of Companies10PE01224364860+
0 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: PM is expensive based on its Price-To-Earnings Ratio (32.3x) compared to the Global Tobacco industry average (11.6x).

Price to Earnings Ratio vs Fair Ratio

What is PM's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

PM PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio32.3x
Fair PE Ratio31x

Price-To-Earnings vs Fair Ratio: PM is expensive based on its Price-To-Earnings Ratio (32.3x) compared to the estimated Fair Price-To-Earnings Ratio (31x).

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst PM forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentUS$170.32
US$186.50
+9.50%
10.86%US$220.00US$151.00n/a16
Aug ’26US$162.96
US$186.50
+14.45%
10.86%US$220.00US$151.00n/a16
Jul ’26US$177.53
US$178.78
+0.70%
11.28%US$220.00US$143.45n/a16
Jun ’26US$180.59
US$176.03
-2.53%
9.74%US$205.00US$143.45n/a16
May ’26US$170.05
US$169.26
-0.46%
9.31%US$190.00US$143.45n/a15
Apr ’26US$158.09
US$149.79
-5.25%
12.57%US$175.00US$102.00n/a15
Mar ’26US$155.28
US$148.77
-4.19%
12.55%US$175.00US$102.00n/a14
Feb ’26US$130.20
US$136.93
+5.17%
11.16%US$150.00US$102.00n/a14
Jan ’26US$120.35
US$136.16
+13.13%
12.17%US$155.00US$102.00n/a13
Dec ’25US$133.06
US$136.00
+2.21%
12.10%US$155.00US$102.00n/a13
Nov ’25US$130.65
US$134.13
+2.66%
12.54%US$155.00US$102.00n/a13
Oct ’25US$120.59
US$126.48
+4.88%
11.28%US$145.00US$102.00n/a13
Sep ’25US$123.29
US$118.73
-3.70%
9.08%US$134.00US$95.00n/a14
Aug ’25US$117.46
US$115.70
-1.50%
8.62%US$134.00US$95.00US$162.9614
Jul ’25US$101.25
US$111.17
+9.79%
8.30%US$134.00US$90.00US$177.5314
Jun ’25US$101.38
US$109.42
+7.93%
8.99%US$134.00US$86.00US$180.5915
May ’25US$96.05
US$109.15
+13.64%
8.76%US$134.00US$86.00US$170.0516
Apr ’25US$91.44
US$107.93
+18.03%
9.53%US$134.00US$85.00US$158.0915
Mar ’25US$89.83
US$106.65
+18.72%
10.42%US$134.00US$85.00US$155.2816
Feb ’25US$93.29
US$108.07
+15.84%
10.70%US$134.00US$85.50US$130.2016
Jan ’25US$94.08
US$108.53
+15.36%
9.11%US$130.00US$85.50US$120.3518
Dec ’24US$94.05
US$109.03
+15.93%
9.06%US$130.00US$85.50US$133.0618
Nov ’24US$89.01
US$109.62
+23.16%
8.60%US$130.00US$85.50US$130.6517
Oct ’24US$92.58
US$113.43
+22.52%
7.66%US$130.00US$87.00US$120.5917
Sep ’24US$95.68
US$113.06
+18.16%
8.21%US$130.00US$87.00US$123.2918
Aug ’24US$98.25
US$113.17
+15.18%
8.19%US$130.00US$87.00US$117.4618
AnalystConsensusTarget
Consensus Narrative from 16 Analysts
US$186.50
Fair Value
8.7% undervalued intrinsic discount
16
Number of Analysts

Analyst Forecast: Target price is less than 20% higher than the current share price.

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2025/08/11 00:46
End of Day Share Price 2025/08/11 00:00
Earnings2025/06/30
Annual Earnings2024/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* Example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

Philip Morris International Inc. is covered by 47 analysts. 16 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
David ColemanArgus Research Company
Ishan MajumdarBaptista Research
Gaurav JainBarclays