Philip Morris International (PM) Stock Overview
Operates as a tobacco company. More details
| Snowflake Score | |
|---|---|
| Valuation | 1/6 |
| Future Growth | 2/6 |
| Past Performance | 5/6 |
| Financial Health | 2/6 |
| Dividends | 5/6 |
PM Community Fair Values
Create NarrativeSee what 176 others think this stock is worth. Follow their fair value or set your own to get alerts.
Analyst Price Targets
Philip Morris International Inc. Competitors
Price History & Performance
| Historical stock prices | |
|---|---|
| Current Share Price | US$178.29 |
| 52 Week High | US$193.05 |
| 52 Week Low | US$142.11 |
| Beta | 0.41 |
| 1 Month Change | 4.55% |
| 3 Month Change | 4.89% |
| 1 Year Change | -1.89% |
| 3 Year Change | 92.56% |
| 5 Year Change | 80.38% |
| Change since IPO | 260.98% |
Recent News & Updates
Narrative Update • Jun 01
PM: Smoke Free Outlook And FDA Shifts Will Shape Balanced Risk Profile
Analyst price targets for Philip Morris International have edged up to $193.14 from $192.60, reflecting updated views on discount rates, long term profit margins and smoke free earnings potential following recent research commentary. Analyst Commentary Recent research paints a mixed picture for Philip Morris International, with some analysts lifting targets and others trimming them as they reassess valuation, execution risks and the outlook for smoke free products.Seeking Alpha • May 29
Philip Morris: The Pullback Is A Gift For Long-Term Investors
Summary Philip Morris International is a growth and income play, driven by its expanding smoke-free product portfolio. Smoke-free products now comprise 43% of PM’s revenue, with robust growth from IQOS, ZYN, and VEEV, and strong market share in key regions. PM maintains a solid balance sheet, 3.3% yield, and 17 years of dividend growth, supporting its GARP profile. I maintain a ‘Buy’ rating on PM, citing innovation-led margin expansion, double-digit growth, and an attractive entry point after the recent pullback. Read the full article on Seeking AlphaNarrative Update • Apr 28
PM: Smoke Free Shift And Margin Resilience Will Support Bullish Thesis
Analysts have trimmed the Philip Morris International fair value estimate from $195.17 to $192.60 as they factor in slightly lower revenue growth assumptions, a modestly higher discount rate, and updated views on future P/E and profit margin resilience following a mix of recent target hikes and cuts across the Street. Analyst Commentary Recent research shows a mix of enthusiasm and caution around Philip Morris International, with some firms lifting price targets into the US$200 range and others trimming them.Recent updates
Narrative Update • Jun 01
PM: Smoke Free Outlook And FDA Shifts Will Shape Balanced Risk Profile
Analyst price targets for Philip Morris International have edged up to $193.14 from $192.60, reflecting updated views on discount rates, long term profit margins and smoke free earnings potential following recent research commentary. Analyst Commentary Recent research paints a mixed picture for Philip Morris International, with some analysts lifting targets and others trimming them as they reassess valuation, execution risks and the outlook for smoke free products.Seeking Alpha • May 29
Philip Morris: The Pullback Is A Gift For Long-Term Investors
Summary Philip Morris International is a growth and income play, driven by its expanding smoke-free product portfolio. Smoke-free products now comprise 43% of PM’s revenue, with robust growth from IQOS, ZYN, and VEEV, and strong market share in key regions. PM maintains a solid balance sheet, 3.3% yield, and 17 years of dividend growth, supporting its GARP profile. I maintain a ‘Buy’ rating on PM, citing innovation-led margin expansion, double-digit growth, and an attractive entry point after the recent pullback. Read the full article on Seeking AlphaNarrative Update • Apr 28
PM: Smoke Free Shift And Margin Resilience Will Support Bullish Thesis
Analysts have trimmed the Philip Morris International fair value estimate from $195.17 to $192.60 as they factor in slightly lower revenue growth assumptions, a modestly higher discount rate, and updated views on future P/E and profit margin resilience following a mix of recent target hikes and cuts across the Street. Analyst Commentary Recent research shows a mix of enthusiasm and caution around Philip Morris International, with some firms lifting price targets into the US$200 range and others trimming them.Narrative Update • Apr 14
PM: Smoke Free Push And Margin Outlook Will Drive Bullish Case
The analyst price target for Philip Morris International has shifted from $180.38 to $195.17 as analysts factor in higher assumed profit margins, a slightly higher revenue outlook tied to products like ZYN nicotine pouches, updated P/E assumptions, and a modestly higher discount rate in their models. Analyst Commentary Recent Street research on Philip Morris International shows a wide range of updated price targets and views on execution, especially around next generation products and valuation assumptions.
Narrative Update • Mar 30
PM: Smoke Free Product Shift Will Drive Long-Term Upside Potential
Analysts have lifted the average price target for Philip Morris International to $210, citing stronger contributions from ZYN nicotine pouches and faster growth in next generation products as key supports for the new valuation framework. Analyst Commentary Recent Street research points to a cluster of higher price targets for Philip Morris International, with several bullish analysts highlighting ZYN nicotine pouches and next generation products as key inputs to their revised models.
Narrative Update • Mar 16
PM: Regulatory Setbacks And Next Generation Execution Risks Will Temper Optimistic Outlook
The analyst price target for Philip Morris International has been raised from $161.61 to $170.00, as analysts point to stronger expectations for revenue from next generation products like ZYN nicotine pouches, along with slightly higher assumed revenue growth, profit margins, and future P/E multiples. Analyst Commentary Recent Street research on Philip Morris International shows a cluster of higher price targets tied to expectations for next generation products like ZYN nicotine pouches and related revenue assumptions.Narrative Update • Mar 02
PM: Next Generation Products Will Drive Renewed Long-Term Upside Potential
Analysts have lifted their price target on Philip Morris International to $210, citing stronger expectations for revenue from ZYN nicotine pouches and faster growth in next generation products, reflected in modest tweaks to growth, margin and future P/E assumptions. Analyst Commentary Bullish analysts have been marking up their expectations for Philip Morris International, with several research notes citing stronger prospects tied to ZYN nicotine pouches and next generation products.Narrative Update • Feb 16
PM: Regulatory Setbacks Will Pressure Overextended Post Earnings Share Performance
The analyst price target for Philip Morris International has been revised to $161.61 from $158.00, as analysts factor in updated assumptions for fair value, discount rate, revenue growth, profit margin, and future P/E, following a recent series of target increases from several major firms alongside a downgrade from one broker. Analyst Commentary Recent Street research around Philip Morris International has featured a series of upward price target revisions, alongside a downgrade that introduces a more cautious note.Narrative Update • Feb 02
PM: Jefferies Downgrade And Tax Headwinds Will Shape Fairly Valued Outlook
Analysts have lowered their price target on Philip Morris International from about $183 to about $180. The adjustment reflects slightly revised assumptions regarding fair value, discount rate, revenue growth, profit margin and future P/E, after incorporating recent research including the Jefferies downgrade.Narrative Update • Jan 19
PM: Pullback And Guidance Reset Will Shape Post Earnings Share Performance
Analysts have raised their fair value estimate for Philip Morris International from $153.00 to $158.00, citing recent research that characterizes the post-earnings pullback as an overreaction. The research highlights better-than-expected Q3 organic sales, profit margin expansion, and EPS growth as support for a higher target, despite adjustments to operating profit guidance and U.S. ZYN dynamics.Narrative Update • Jan 04
PM: Recent Share Pullback Will Offer Appealing Long-Term Entry Opportunity
Analysts have modestly lowered their price target on Philip Morris International from $220.00 to about $214.07 per share, citing slightly softer long term revenue growth and profit margin assumptions. They also view the recent pullback, following guidance tweaks and near term U.S. ZYN headwinds, as an attractive buying opportunity.Narrative Update • Dec 17
PM: Recent Pullback Will Offer Bullish Entry As Earnings Guidance Will Hold
Analysts have modestly increased their price target on Philip Morris International by $0.00 to reflect slightly lower discount rate assumptions, broadly stable growth and margin forecasts, and their view that the recent share pullback is an overreaction that offers an attractive entry point for investors. Analyst Commentary Bullish Takeaways Bullish analysts argue that the share price pullback is disconnected from fundamentals, given better than expected Q3 organic sales, margin expansion, and EPS growth, supporting a more attractive risk reward valuation.Narrative Update • Dec 03
PM: Recent Pullback Will Offer Bullish Entry As Earnings Guidance Holds
Analysts have nudged their price target on Philip Morris International slightly lower, from about $183.25 to $182.94, citing modestly softer long term growth and margin assumptions. They also view the recent share pullback as an attractive buying opportunity.Narrative Update • Nov 19
PM: Recent Share Pullback Will Present Compelling Entry Point Amid Volatility
Narrative Update: Philip Morris International Price Target Adjustment Analysts have lowered their price target for Philip Morris International from $185.44 to $183.25. This change is attributed to modestly reduced revenue growth expectations and an uptick in discount rate.Narrative Update • Nov 05
PM: Share Pullback Will Present Attractive Buying Opportunity Following Guidance Update
Analysts have lowered their fair value price target for Philip Morris International from $188.00 to $185.44, citing slightly softer revenue growth and profit margin expectations. However, they note that the recent share pullback provides an attractive buying opportunity in light of overall positive business performance.Narrative Update • Oct 21
Analysts Assess Philip Morris Pullback as Valuation Adjusts After Company Guidance and Dividend Boost
The analyst price target for Philip Morris International has been revised slightly downward from $190.20 to $188.00, as analysts cite moderating profit margin and revenue growth expectations. Analysts also note that recent share price weakness may present a buying opportunity.Narrative Update • Aug 27
Smoke-Free Alternatives Will Drive Global Opportunity In Emerging Markets
Analysts have raised their price target for Philip Morris International to $190.20, citing expectations for strong Q2 performance driven by growth in ZYN and IQOS, potential upward financial guidance revisions, and ongoing strength in both smoke-free and traditional products. Analyst Commentary Bullish analysts anticipate impressive Q2 delivery across all business segments, highlighting strong ZYN volumes and robust contributions from both IQOS and traditional combustible products.Analysis Article • Jul 28
Philip Morris International Inc. Just Recorded A 9.0% EPS Beat: Here's What Analysts Are Forecasting Next
It's been a mediocre week for Philip Morris International Inc. ( NYSE:PM ) shareholders, with the stock dropping 11% to...Analysis Article • Jul 19
What You Can Learn From Philip Morris International Inc.'s (NYSE:PM) P/E
Philip Morris International Inc.'s ( NYSE:PM ) price-to-earnings (or "P/E") ratio of 36.7x might make it look like a...Seeking Alpha • Apr 29
Philip Morris Torches Analyst Estimates, Attractive Long-Term Upside Ahead
Summary Philip Morris's Zyn is experiencing explosive growth, with US shipments up 53% and international volumes up 182% year-over-year. PM beat earnings estimates last week and raised guidance after crushing analyst forecasts. The company is in the process of building a massive Zyn factory in Colorado to meet soaring demand, positioning itself for significant future earnings growth. PM stock offers the potential for substantial long-term returns, and every business line they have is well run. I think PM has substantial long-term upside based on back-of-the-envelope calculations and on the historical returns of consumer products companies when they opened up hot products to new international markets. Read the full article on Seeking AlphaSeeking Alpha • Apr 21
Philip Morris Q1 Preview: Top Recession Stock
Summary Philip Morris International Inc.'s shares have surged due to strong sales of smokeless products like Zyn, positioning the company well for potential recession resilience. The company's strategic shift to smokeless products now contributes 40% of revenue, driving growth alongside the steady legacy combustible business. Despite trading at a premium, Philip Morris' robust cash flows and dividend yield make PM shares a strong buy, especially in uncertain economic times. Regulatory risks exist, but the company's smokeless products have received positive reception, further supporting its transformation and growth prospects. Read the full article on Seeking AlphaNew Narrative • Apr 08
IQOS And ZYN Will Face Regulatory Challenges Yet Create Opportunities
Regulatory hurdles and slow new market entries could hinder growth for smoke-free products like IQOS and ZYN.New Narrative • Apr 07
IQOS, ZYN And VEEV Expansion Will Transform Smoke-Free Markets
Expansion of smoke-free products like IQOS and ZYN enhances revenue potential and operating margins through scalable profitability and market share growth.Seeking Alpha • Mar 28
Philip Morris: Outpacing The Market, With More Room To Run
Summary Philip Morris International remains a strong buy due to its dominance in smoke-free products like IQOS and ZYN, outperforming the S&P 500 by over 20% since my last article. The latest earnings report showed robust growth, with total revenue up 10% and smoke-free product sales up 15%, highlighting PM's market leadership of the hottest growth story in consumer staples. Currency fluctuations have always posed a risk, but a weakening dollar could boost PM's earnings further, aligning with a favorable macroeconomic backdrop for tobacco stocks with international end markets. Despite recent gains, PM's valuation is reasonable, offering solid dividend yield and growth potential. Read the full article on Seeking AlphaSeeking Alpha • Mar 18
Philip Morris International: Business Evolution And The Bet On Smoke-Free Products
Summary PMI's Smoke-Free World strategy boosts revenue by 8% in 2024, but sacrifices operating margin, which has been falling for the third year in a row. Rising excise taxes, high competition, and stricter regulations pressure margins and growth rates, making current PMI share valuation expensive; fair value estimated at $109. PMI's business model shift to smoke-free products like IQOS and ZYN shows promise, but requires significant investment, impacting profitability and increasing debt burden. Despite strong market position and innovation, regulatory challenges and competition necessitate a share purchase price closer to $110 for better value. Read the full article on Seeking AlphaSeeking Alpha • Mar 12
Philip Morris Rally Is Well Deserved - Upgrade To Buy At Dips
Summary Philip Morris' premium valuations are justified by the recent US FDA approval for ZYN, attributed to the Nicotine Pouches segment's undeniable growth driver prospects. This is on top of the robust smoke-free growth across IQOS's growing users/ market share, richer overall operating margins, and a healthier balance sheet. These reasons are likely why the PM stock continues to outperform the wider market and its tobacco peers, as it emerges as the undisputed king in the tobacco market. Even so, given the pulled forward upside potential and higher short interest volume, we urge investors to wait for a moderate pullback for an improved margin of safety. We shall discuss further in detail. Read the full article on Seeking AlphaSeeking Alpha • Mar 04
Philip Morris: Wall Street Buy Rating Vs. Insider Sales
Summary This article downgrades my rating on Philip Morris stock to SELL due to the sentiment shift and significant insider selling since my last analysis. The sentiment surrounding PM has swung too far to the greed extreme, judging by the latest Wall Street ratings and also its valuation premium. In contrast, PM's insider transactions were dominated by sales from key executives. Another concern I see is its credit outlook, which is negative for good reasons. Its current interest coverage is near the lowest levels in at least 5 years. Read the full article on Seeking AlphaSeeking Alpha • Feb 10
Philip Morris: No Margin Of Safety
Summary Philip Morris delivered strong Q4 results, surpassing EPS and revenue estimates, driven by surging demand for non-traditional products like IQOS and ZYN. Non-traditional products now represent 40% of total revenue, significantly boosting gross profits. Despite strong performance and profitability, I maintain a hold rating due to Philip Morris' high valuation with a forward P/E ratio of 18.7X. Shares are likely more than fully valued and have no real safety margin left for investors. While PM has a solid dividend yield and growth prospects, risks include high valuation and dependence on emerging markets and non-traditional product segments. Read the full article on Seeking AlphaSeeking Alpha • Feb 03
Philip Morris: Fairly Priced Into Earnings, But A Very Strong Chart
Summary I maintain a hold rating on Philip Morris International due to its P/E multiple above 20, despite a strong technical chart. PM's Q3 results were robust, with non-GAAP EPS of $1.91 beating estimates and revenue up 8.4%, driven by price increases and volume growth. Key risks include strong-dollar headwinds, geopolitical tensions, slower smoke-free product growth, and regulatory actions, but PM remains shareholder-friendly with dividends and buybacks. Technically, PM shows bullish consolidation and support near $116-$117; a breakout above $134 could signal further upside to $151. Read the full article on Seeking AlphaSeeking Alpha • Jan 02
Philip Morris Continues To Be A Top Dividend Idea Yielding Around 4.5%
Summary Philip Morris outperformed the S&P 500 in 2024, driven by strong financials, a 4.5% dividend yield, and consistent cash generation exceeding $10 billion annually. Despite regulatory risks, PM's diversified portfolio, including smoke-free products like IQOS and ZYN, positions it for continued revenue and earnings growth in 2025. PM's 16-year dividend growth streak, coupled with a forecasted 20% EPS growth over the next two years, makes it a compelling income investment. As the Fed lowers rates, PM's attractive yield and strong financial performance could drive capital appreciation and dividend income in 2025. Read the full article on Seeking AlphaShareholder Returns
| PM | US Tobacco | US Market | |
|---|---|---|---|
| 7D | 0.5% | 0.2% | -2.9% |
| 1Y | -1.9% | -2.6% | 23.5% |
Return vs Industry: PM matched the US Tobacco industry which returned -2.6% over the past year.
Return vs Market: PM underperformed the US Market which returned 23.5% over the past year.
Price Volatility
| PM volatility | |
|---|---|
| PM Average Weekly Movement | 4.8% |
| Tobacco Industry Average Movement | 9.1% |
| Market Average Movement | 7.2% |
| 10% most volatile stocks in US Market | 16.6% |
| 10% least volatile stocks in US Market | 3.1% |
Stable Share Price: PM has not had significant price volatility in the past 3 months compared to the US market.
Volatility Over Time: PM's weekly volatility (5%) has been stable over the past year.
About the Company
| Founded | Employees | CEO | Website |
|---|---|---|---|
| 1987 | 84,900 | Jacek Olczak | www.pmi.com |
Philip Morris International Inc. operates as a tobacco company. The company offers cigarettes and smoke-free products, including heat-not-burn, e-vapor, and oral nicotine products under the IQOS, VEEV, and ZYN brands; and consumer accessories, such as lighters and matches. It also offers wellness products.
Philip Morris International Inc. Fundamentals Summary
| PM fundamental statistics | |
|---|---|
| Market cap | US$272.73b |
| Earnings (TTM) | US$11.07b |
| Revenue (TTM) | US$41.49b |
25.1x
P/E Ratio6.7x
P/S RatioIs PM overvalued?
See Fair Value and valuation analysisEarnings & Revenue
| PM income statement (TTM) | |
|---|---|
| Revenue | US$41.49b |
| Cost of Revenue | US$13.58b |
| Gross Profit | US$27.92b |
| Other Expenses | US$16.85b |
| Earnings | US$11.07b |
Last Reported Earnings
Mar 31, 2026
Next Earnings Date
Jul 22, 2026
| Earnings per share (EPS) | 7.10 |
| Gross Margin | 67.28% |
| Net Profit Margin | 26.67% |
| Debt/Equity Ratio | -710.8% |
How did PM perform over the long term?
See historical performance and comparisonDividends
3.3%
Current Dividend Yield81%
Payout RatioCompany Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2026/06/05 03:50 |
| End of Day Share Price | 2026/06/05 00:00 |
| Earnings | 2026/03/31 |
| Annual Earnings | 2025/12/31 |
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.
| Package | Data | Timeframe | Example US Source * |
|---|---|---|---|
| Company Financials | 10 years |
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| Analyst Consensus Estimates | +3 years |
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| Market Prices | 30 years |
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| Ownership | 10 years |
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| Management | 10 years |
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| Key Developments | 10 years |
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* 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 34 analysts. 13 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.
| Analyst | Institution |
|---|---|
| David Coleman | Argus Research Company |
| Gaurav Jain | Barclays |
| Pallav Mittal | Barclays |