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Philip Morris International Income Statement 2025-2006 | PM
Brief overview of profit and loss at Philip Morris International
The conclusions below are based on five years of reported results. According to figures from Philip Morris International, revenue changed from $28.7 billion to $40.6 billion over five years. Overall revenue changed by +41.7%, equal to an annualized rate of about 7.2%. Sales increased steadily, although without strong acceleration.
Gross profit was $19.1 billion at the start and $27.3 billion at the end of the period (+42.7%). Direct costs broadly followed the top-line trend. The gross margin was 66.7% at the start and 67.1% at the end. The gross margin stayed within a similar range.
Over the period, EBITDA shifted from 11.7 billion dollars to 16.9 billion dollars, a change of +44.7%. EBITDA broadly followed the top-line trend. The EBITDA share of revenue changed from 40.7% to 41.5%. The EBITDA margin stayed near its previous level.
The five-year change in net income was +40.9%: from $8.1 billion to $11.3 billion. Net profit ended the five years at a local peak.
Market capitalization changed from $123 billion to $283 billion (+131%). Valuation expanded much faster than the underlying results.
Summary assessment
The indicators form a favorable picture of business development. The financial profile benefits from steady gross profitability, consistent operating efficiency and net-income growth. The key question is whether sales can be converted into sustainable profit.
Annual Income Statement Philip Morris International
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 | 2008 | 2007 | 2006 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Market Cap |
283 B | 225 B | 138 B | 158 B | 155 B | 123 B | 131 B | 116 B | 168 B | 149 B | 139 B | 126 B | 128 B | 148 B | 132 B | 80.9 B | 84.8 B | 108 B | - | - |
Shares |
1.56 B | 1.55 B | 1.55 B | 1.55 B | 1.56 B | 1.56 B | 1.56 B | 1.56 B | 1.55 B | 1.55 B | 1.55 B | 1.57 B | 1.62 B | 1.69 B | 1.76 B | 1.84 B | 1.94 B | 2.07 B | - | - |
Historical Prices |
182 | 145 | 88.8 | 102 | 99.7 | 78.7 | 72 | 72.1 | 81.7 | 83 | 65.5 | 56.8 | 53 | 58.3 | 51.1 | 44 | 43.6 | 52.1 | - | - |
Net Income |
11.3 B | 7.06 B | 7.81 B | 9.05 B | 9.11 B | 8.06 B | 7.18 B | 7.91 B | 6.04 B | 6.97 B | 6.87 B | 7.49 B | 8.58 B | 8.8 B | 8.59 B | 7.26 B | 6.34 B | 6.89 B | 6.04 B | - |
Revenue |
40.6 B | 37.9 B | 35.2 B | 31.8 B | 31.4 B | 28.7 B | 29.8 B | 29.6 B | 28.7 B | 26.7 B | 26.8 B | 29.8 B | 31.2 B | 31.4 B | 31.1 B | - | - | - | - | - |
Cost of Revenue |
13.4 B | 13.3 B | 12.9 B | 11.4 B | 10 B | 9.57 B | 10.5 B | 10.8 B | 10.4 B | 9.39 B | - | - | - | - | - | - | - | - | - | - |
Gross Profit |
27.3 B | 24.5 B | 22.3 B | 20.4 B | 21.4 B | 19.1 B | 19.3 B | 18.9 B | 18.3 B | 17.3 B | 17.4 B | 19.3 B | 20.8 B | 21 B | 20.4 B | 17.5 B | 16 B | 16.4 B | 14.1 B | - |
Operating Income |
14.9 B | 13.4 B | 11.6 B | 12.2 B | 13 B | 11.7 B | 10.5 B | 11.4 B | 11.6 B | 10.9 B | 10.6 B | 11.7 B | 13.5 B | 13.9 B | 13.3 B | 11.2 B | 10 B | 10.2 B | 8.89 B | - |
Interest Expense |
- | - | 1.53 B | 768 M | 737 M | 728 M | 796 M | 855 M | 1.1 B | 1.07 B | 1.13 B | 1.17 B | 1.1 B | 1.01 B | 934 M | 974 M | 905 M | 528 M | -10 M | - |
EBITDA |
16.9 B | 15.2 B | 13 B | 13.3 B | 14 B | 11.7 B | 10.5 B | 11.4 B | 11.6 B | 10.9 B | 10.8 B | 12.3 B | 13.9 B | 14 B | 13.5 B | 12.1 B | 10.9 B | 11.1 B | 9.64 B | - |
Operating Expenses |
- | - | - | - | - | - | 8.85 B | 7.53 B | 6.81 B | 6.48 B | 6.74 B | 7.09 B | 6.98 B | 7.08 B | 6.98 B | - | - | - | - | - |
General and Administrative Expenses |
- | - | - | - | - | - | 8.78 B | 7.45 B | 6.72 B | 6.4 B | 6.66 B | 7 B | 6.89 B | 6.98 B | - | - | - | - | - | - |
All numbers in USD currency
Quarterly Income Statement Philip Morris International
| 2026-Q2 | 2026-Q1 | 2025-Q3 | 2025-Q2 | 2025-Q1 | 2024-Q3 | 2024-Q2 | 2024-Q1 | 2023-Q3 | 2023-Q2 | 2023-Q1 | 2022-Q4 | 2022-Q3 | 2022-Q2 | 2022-Q1 | 2021-Q4 | 2021-Q3 | 2021-Q2 | 2021-Q1 | 2020-Q4 | 2020-Q3 | 2020-Q2 | 2020-Q1 | 2019-Q4 | 2019-Q3 | 2019-Q2 | 2019-Q1 | 2018-Q4 | 2018-Q3 | 2018-Q2 | 2018-Q1 | 2017-Q4 | 2017-Q3 | 2017-Q2 | 2017-Q1 | 2016-Q4 | 2016-Q3 | 2016-Q2 | 2016-Q1 | 2015-Q4 | 2015-Q3 | 2015-Q2 | 2015-Q1 | 2014-Q4 | 2014-Q3 | 2014-Q2 | 2014-Q1 | 2013-Q4 | 2013-Q3 | 2013-Q2 | 2013-Q1 | 2012-Q4 | 2012-Q3 | 2012-Q2 | 2012-Q1 | 2011-Q4 | 2011-Q3 | 2011-Q2 | 2011-Q1 | 2010-Q3 | 2010-Q2 | 2010-Q1 | 2009-Q3 | 2009-Q2 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Shares |
1.56 B | 1.56 B | 1.56 B | 1.56 B | 1.56 B | 1.56 B | 1.56 B | 1.55 B | 1.55 B | 1.55 B | 1.55 B | - | 1.55 B | 1.55 B | 1.55 B | - | 1.56 B | 1.56 B | 1.56 B | - | 1.56 B | 1.56 B | 1.56 B | - | 1.56 B | 1.56 B | 1.56 B | - | 1.56 B | 1.56 B | 1.55 B | - | 1.55 B | 1.55 B | 1.55 B | - | 1.55 B | 1.55 B | 1.55 B | - | 1.55 B | 1.55 B | 1.55 B | - | 1.56 B | 1.57 B | 1.58 B | - | 1.61 B | 1.63 B | 1.65 B | - | 1.68 B | 1.7 B | 1.72 B | - | 1.75 B | 1.77 B | 1.79 B | 1.83 B | 1.85 B | - | - | - |
Net Income |
2.82 B | 2.44 B | 3.48 B | 3.04 B | 2.69 B | 3.08 B | 2.41 B | 2.15 B | 2.05 B | 1.57 B | 2 B | - | 2.09 B | 2.23 B | 2.33 B | - | 2.43 B | 2.17 B | 2.42 B | 1.98 B | 2.31 B | 1.95 B | 1.83 B | 1.62 B | 1.9 B | 2.32 B | 1.35 B | 1.91 B | 2.25 B | 2.2 B | 1.56 B | 694 M | 1.97 B | 1.78 B | 1.59 B | 1.71 B | 1.94 B | 1.79 B | 1.53 B | 1.25 B | 1.94 B | 1.89 B | 1.8 B | 1.61 B | 2.16 B | 1.85 B | 1.88 B | 1.99 B | 2.34 B | 2.12 B | 2.12 B | 2.1 B | 2.23 B | 2.32 B | 2.16 B | 1.89 B | 2.38 B | 2.41 B | 1.92 B | 1.82 B | 1.98 B | 1.7 B | 1.8 B | 1.55 B |
Revenue |
11.2 B | 10.1 B | 10.8 B | 10.1 B | 9.3 B | 9.91 B | 9.47 B | 8.79 B | 9.14 B | 8.97 B | 8.02 B | - | 8.03 B | 7.83 B | 7.75 B | - | 8.12 B | 7.59 B | 7.58 B | 7.44 B | 7.45 B | 6.65 B | 7.15 B | 7.71 B | 7.64 B | 7.7 B | 6.75 B | 7.5 B | 7.5 B | 7.73 B | 6.9 B | 21.6 B | 20.6 B | 19.3 B | 16.6 B | 19.2 B | 19.9 B | 19 B | 16.8 B | 18.4 B | 19.4 B | 18.8 B | 17.4 B | 19.9 B | 21.3 B | 21.1 B | 17.8 B | 20.4 B | 20.6 B | 20.5 B | 18.5 B | 19.7 B | 19.6 B | 20 B | 18 B | 18.9 B | 20.7 B | 20.2 B | 16.5 B | - | - | - | - | - |
Cost of Revenue |
3.53 B | 3.24 B | 3.49 B | 3.28 B | 3.03 B | 3.37 B | 3.34 B | 3.2 B | 3.16 B | 3.23 B | 3.04 B | - | 2.94 B | 2.65 B | 2.61 B | - | 2.6 B | 2.35 B | 2.27 B | - | 2.42 B | 2.18 B | 2.4 B | - | 2.6 B | 2.66 B | 2.46 B | - | 2.62 B | 2.74 B | 2.62 B | - | 2.74 B | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Gross Profit |
7.66 B | 6.9 B | 7.36 B | 6.86 B | 6.27 B | 6.54 B | 6.12 B | 5.6 B | 5.98 B | 5.74 B | 4.98 B | - | 5.1 B | 5.18 B | 5.14 B | - | 5.53 B | 5.24 B | 5.31 B | 4.87 B | 5.03 B | 4.47 B | 4.75 B | 4.94 B | 5.04 B | 5.03 B | 4.29 B | 4.72 B | 4.89 B | 4.98 B | 4.28 B | 5.29 B | 4.74 B | 4.4 B | 3.89 B | 4.47 B | 4.55 B | 4.28 B | 3.99 B | 4.02 B | 4.54 B | 4.48 B | 4.39 B | 4.56 B | 5.12 B | 5.1 B | 4.54 B | 5.19 B | 5.31 B | 5.22 B | 5.1 B | 5.21 B | 5.34 B | 5.45 B | 5.01 B | 4.98 B | 5.52 B | 5.43 B | 4.5 B | 4.32 B | 4.51 B | 4.12 B | 4.27 B | 3.95 B |
Operating Income |
4.53 B | 3.89 B | 4.26 B | 3.71 B | 3.54 B | 3.65 B | 3.44 B | 3.04 B | 3.37 B | 2.57 B | 2.73 B | - | 2.97 B | 3.06 B | 3.3 B | - | 3.46 B | 3.13 B | 3.44 B | - | 3.24 B | 2.73 B | 2.79 B | - | 2.79 B | 3.19 B | 2.05 B | - | 3.16 B | 3.09 B | 2.43 B | - | 3.09 B | 2.74 B | 2.42 B | - | 2.98 B | 2.75 B | 2.47 B | - | 2.96 B | 2.89 B | 2.87 B | - | 3.34 B | 2.87 B | 2.95 B | - | 3.6 B | 3.34 B | 3.39 B | - | 3.62 B | 3.6 B | 3.4 B | - | 3.68 B | 3.71 B | 3.01 B | 2.84 B | 2.91 B | 2.72 B | 2.85 B | 2.43 B |
Interest Expense |
- | - | - | - | - | - | - | -299 M | -261 M | -297 M | -230 M | - | -138 M | -126 M | -154 M | - | -154 M | -161 M | -167 M | - | -163 M | -162 M | -129 M | - | -132 M | -150 M | -152 M | - | -145 M | -168 M | -227 M | - | -223 M | -213 M | -219 M | - | -220 M | -223 M | -247 M | - | -247 M | -259 M | -275 M | - | -267 M | -254 M | -268 M | - | -239 M | -246 M | -236 M | - | -211 M | -209 M | -213 M | - | -192 M | -208 M | -213 M | -214 M | -223 M | -223 M | -221 M | -193 M |
EBITDA |
5.04 B | 4.4 B | 4.77 B | 4.2 B | 4.02 B | 4.15 B | 3.89 B | 3.41 B | - | - | 2.81 B | - | 3.07 B | 3.06 B | 3.55 B | - | 3.47 B | 3.15 B | 3.69 B | - | 3.95 B | 3.2 B | 3.03 B | - | 3.5 B | 3.66 B | 2.29 B | - | 3.89 B | 3.58 B | 2.67 B | - | 3.72 B | 3.14 B | 2.61 B | - | 3.52 B | 3.11 B | 2.65 B | - | 3.52 B | 3.27 B | 3.06 B | - | 4 B | 3.3 B | 3.16 B | - | 4.26 B | 3.78 B | 3.61 B | - | 4.29 B | 4.05 B | 3.63 B | - | 4.42 B | 4.2 B | 3.25 B | 3.51 B | 3.35 B | 2.94 B | 3.46 B | 2.82 B |
General and Administrative Expenses |
- | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 35 M | 40 M | 51 M | - | 36 M | 37 M | 46 M | - | 33 M | 41 M | 41 M | - | - | - | 40 M | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
All numbers in USD currency
The income statement is one of the three key financial reports of a company Philip Morris International (alongside the balance sheet and the cash flow statement). It shows how the company makes money and what its expenses are:
- How much revenue the company earned
- How much it spent on production, personnel, marketing, taxes, etc.
- What profit remained in the end
Analyzing the income statement helps an investor understand whether the business generates stable and growing profits, how effectively the company controls its expenses, and whether it is capable of generating income in the future. Additionally, this analysis shows how the company copes with crises and economic cycles, and allows assessing the potential for stock price growth and dividend payments.
Features- The income statement may include both recurring and one-time items (for example, profit from the sale of assets). It is necessary to separate core metrics from one-off events for accurate analysis.
- Companies often publish interim reports (e.g., quarterly), which allows for more timely tracking of trends.
- A combined analysis of the income statement with the balance sheet and cash flow statement provides a comprehensive view of the company’s financial health.
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