PM Stock Overview
Philip Morris International Inc., through its subsidiaries, manufactures and sells cigarettes, other nicotine-containing products, smoke-free products, and related electronic devices and accessories.
Philip Morris International Competitors
Price History & Performance
|Historical stock prices|
|Current Share Price||US$87.35|
|52 Week High||US$106.51|
|52 Week Low||US$75.42|
|1 Month Change||-7.61%|
|3 Month Change||-15.19%|
|1 Year Change||15.31%|
|3 Year Change||0.31%|
|5 Year Change||-0.48%|
|Change since IPO||76.86%|
Recent News & Updates
Philip Morris: 5.5% Yield, Why I'm Buying The Dip
Philip Morris International is executing well, with manageable cigarette volume declines, and with overall volume growth. IQOS continues to ramp up well, and its next iteration provides a better user experience. Meanwhile, it maintains a stronger balance sheet than last year and pays a well-covered dividend.
Philip Morris: Strong Q3 Growth Despite Temporary Chip Shortage; Buy The 5%+ Dividend Yield
PM's Q3 2021 results today contained little surprise as management had already reiterated the full-year outlook in September. Q3 results were strong, with EPS growing 11.6% year-on-year; full-year outlook now implies organic EPS growth of 13-14%. Overall volume trends were up 0.6% excluding inventory, with Heated Tobacco Unit sales being a material positive in several regions. The global chip shortage contributed to a slowdown in IQOS user growth in Q3, but consumable volume still grew in Japan and the E.U. Philip Morris' stock at $97.43, we expect a total return of 45% (13.3% annualized) in just over 3 years. The Dividend Yield is 5.1%. Buy.
Philip Morris: Solid Income But Has Never Been Relatively More Expensive
Philip Morris has seen their share price rally throughout 2021 towards the triple-digit levels not seen since 2018. Whilst their 5% dividend yield still offers a solid income, their shares have never been relatively more expensive versus their closest peers. Their dividends growth is fast approaching its ceiling with the gap between their dividend payments and operating cash flow narrowing. Even under a bullish scenario with modest continued dividend growth, my Monte Carlo Simulations indicate that their shares are now fully priced. This means that there is limited potential upside to generate alpha and thus I believe that only a neutral rating is appropriate.
Philip Morris International's (NYSE:PM) Shareholders Will Receive A Bigger Dividend Than Last Year
Philip Morris International Inc.'s ( NYSE:PM ) dividend will be increasing to US$1.25 on 14th of October. Even though...
|PM||US Tobacco||US Market|
Return vs Industry: PM exceeded the US Tobacco industry which returned 9.6% over the past year.
Return vs Market: PM underperformed the US Market which returned 21.3% over the past year.
|PM Average Weekly Movement||2.9%|
|Tobacco Industry Average Movement||13.6%|
|Market Average Movement||6.0%|
|10% most volatile stocks in US Market||15.0%|
|10% least volatile stocks in US Market||2.3%|
Stable Share Price: PM is less volatile than 75% of US stocks over the past 3 months, typically moving +/- 3% a week.
Volatility Over Time: PM's weekly volatility (3%) has been stable over the past year.
About the Company
Philip Morris International Inc., through its subsidiaries, manufactures and sells cigarettes, other nicotine-containing products, smoke-free products, and related electronic devices and accessories. The company offers IQOS smoke-free products, including heated tobacco and nicotine-containing vapor products under the HEETS, HEETS Creations, HEETS Dimensions, HEETS Marlboro, HEETS FROM MARLBORO, Marlboro Dimensions, Marlboro HeatSticks, and Parliament HeatSticks brands, as well as under the Fiit and Miix licensed brands. It also sells its products under the Marlboro, Parliament, Bond Street, Chesterfield, L&M, Lark, and Philip Morris brands.
Philip Morris International Fundamentals Summary
|PM fundamental statistics|
Is PM overvalued?See Fair Value and valuation analysis
Earnings & Revenue
|PM income statement (TTM)|
|Cost of Revenue||US$9.80b|
Last Reported Earnings
Sep 30, 2021
Next Earnings Date
|Earnings per share (EPS)||5.76|
|Net Profit Margin||29.16%|
How did PM perform over the long term?See historical performance and comparison
5.7%Current Dividend Yield
Is Philip Morris International undervalued compared to its fair value and its price relative to the market?
Undervalued compared to fair value
Share Price vs. Fair Value
Below Fair Value: PM ($87.35) is trading below our estimate of fair value ($218.8)
Significantly Below Fair Value: PM is trading below fair value by more than 20%.
Price To Earnings Ratio
PE vs Industry: PM is poor value based on its PE Ratio (15.2x) compared to the Global Tobacco industry average (13.8x).
PE vs Market: PM is good value based on its PE Ratio (15.2x) compared to the US market (17.1x).
Price to Earnings Growth Ratio
PEG Ratio: PM is poor value based on its PEG Ratio (2.3x)
Price to Book Ratio
PB vs Industry: PM has negative assets, so we can't compare its PB Ratio to the US Tobacco industry average.
How is Philip Morris International forecast to perform in the next 1 to 3 years based on estimates from 16 analysts?
Forecasted annual earnings growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: PM's forecast earnings growth (6.5% per year) is above the savings rate (2%).
Earnings vs Market: PM's earnings (6.5% per year) are forecast to grow slower than the US market (14.3% per year).
High Growth Earnings: PM's earnings are forecast to grow, but not significantly.
Revenue vs Market: PM's revenue (3.7% per year) is forecast to grow slower than the US market (10.1% per year).
High Growth Revenue: PM's revenue (3.7% per year) is forecast to grow slower than 20% per year.
Earnings per Share Growth Forecasts
Future Return on Equity
Future ROE: PM is forecast to be unprofitable in 3 years.
How has Philip Morris International performed over the past 5 years?
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: PM has high quality earnings.
Growing Profit Margin: PM's current net profit margins (29.2%) are higher than last year (26.5%).
Past Earnings Growth Analysis
Earnings Trend: PM's earnings have grown by 5.8% per year over the past 5 years.
Accelerating Growth: PM's earnings growth over the past year (16.8%) exceeds its 5-year average (5.8% per year).
Earnings vs Industry: PM earnings growth over the past year (16.8%) exceeded the Tobacco industry 5.8%.
Return on Equity
High ROE: PM's liabilities exceed its assets, so it is difficult to calculate its Return on Equity.
How is Philip Morris International's financial position?
Financial Position Analysis
Short Term Liabilities: PM has negative shareholder equity, which is a more serious situation than short term assets not covering short term liabilities.
Long Term Liabilities: PM has negative shareholder equity, which is a more serious situation than short term assets not covering long term liabilities.
Debt to Equity History and Analysis
Debt Level: PM has negative shareholder equity, which is a more serious situation than a high debt level.
Reducing Debt: PM's has negative shareholder equity, so we do not need to check if its debt has reduced over time.
Debt Coverage: PM's debt is well covered by operating cash flow (38.2%).
Interest Coverage: PM's interest payments on its debt are well covered by EBIT (22.1x coverage).
What is Philip Morris International current dividend yield, its reliability and sustainability?
Current Dividend Yield
Dividend Yield vs Market
Notable Dividend: PM's dividend (5.72%) is higher than the bottom 25% of dividend payers in the US market (1.32%).
High Dividend: PM's dividend (5.72%) is in the top 25% of dividend payers in the US market (3.58%)
Stability and Growth of Payments
Stable Dividend: PM's dividends per share have been stable in the past 10 years.
Growing Dividend: PM's dividend payments have increased over the past 10 years.
Current Payout to Shareholders
Dividend Coverage: At its current payout ratio (84.3%), PM's payments are covered by earnings.
Future Payout to Shareholders
Future Dividend Coverage: PM's dividends in 3 years are forecast to be covered by earnings (75.4% payout ratio).
How experienced are the management team and are they aligned to shareholders interests?
Average management tenure
Jacek Olczak (56 yo)
Mr. Jacek Olczak is the Chief Executive Officer and Director of Philip Morris International Inc. since May 05, 2021. He had been the Chief Operating Officer of Philip Morris International Inc. since Januar...
CEO Compensation Analysis
Compensation vs Market: Jacek's total compensation ($USD10.96M) is about average for companies of similar size in the US market ($USD11.11M).
Compensation vs Earnings: Jacek's compensation has been consistent with company performance over the past year.
Experienced Management: PM's management team is not considered experienced ( 1.5 years average tenure), which suggests a new team.
Experienced Board: PM's board of directors are considered experienced (3.5 years average tenure).
Who are the major shareholders and have insiders been buying or selling?
Insider Trading Volume
Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.
Recent Insider Transactions
Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.
Philip Morris International Inc.'s employee growth, exchange listings and data sources
- Name: Philip Morris International Inc.
- Ticker: PM
- Exchange: NYSE
- Founded: 1987
- Industry: Tobacco
- Sector: Food, Beverage & Tobacco
- Market Cap: US$135.989b
- Shares outstanding: 1.56b
- Website: https://www.pmi.com
Number of Employees
- Philip Morris International Inc.
- 120 Park Avenue
- New York
- New York
- United States
Company Analysis and Financial Data Status
|Data||Last Updated (UTC time)|
|Company Analysis||2021/11/30 00:21|
|End of Day Share Price||2021/11/29 00:00|
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 here.