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
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Analyst Price Targets
Philip Morris International Inc. Competitors
Price History & Performance
| Historical stock prices | |
|---|---|
| Current Share Price | US$191.06 |
| 52 Week High | US$207.76 |
| 52 Week Low | US$142.11 |
| Beta | 0.40 |
| 1 Month Change | 2.62% |
| 3 Month Change | 3.67% |
| 1 Year Change | 15.02% |
| 3 Year Change | 99.46% |
| 5 Year Change | 87.57% |
| Change since IPO | 286.84% |
Recent News & Updates
Seeking Alpha • Sep 04
Philip Morris: The U.S. May Be The Next Growth Leg (Rating Downgrade)
Summary Philip Morris International is downgraded to Hold as valuation reaches the high end of its historical range. PM's growth is driven by smoke-free products, now 42% of net revenue, with strong execution in international markets. U.S. expansion, especially with IQOS and ZYN, remains a key growth catalyst, but regulatory risks and competitive pressures persist. Dividend reliability is strong with 17 consecutive years of growth, but the current 3.1% yield is less compelling for income investors. Read the full article on Seeking Alpha
Narrative Update • Sep 03
PM: Smoke Free Products And Supportive Regulation Will Drive Future Upside
Analysts have lifted their fair value estimate for Philip Morris International to $230 from $216, pointing to updated assumptions for revenue growth, profit margins and future P/E that reflect recent price target increases across the Street and continued confidence in IQOS and oral pouch volumes. Analyst Commentary Recent Street research on Philip Morris International has leaned constructive, with several bullish analysts lifting price targets and highlighting execution on reduced risk products as a key driver for their updated valuation work.Recent updates
Seeking Alpha • Sep 04
Philip Morris: The U.S. May Be The Next Growth Leg (Rating Downgrade)
Summary Philip Morris International is downgraded to Hold as valuation reaches the high end of its historical range. PM's growth is driven by smoke-free products, now 42% of net revenue, with strong execution in international markets. U.S. expansion, especially with IQOS and ZYN, remains a key growth catalyst, but regulatory risks and competitive pressures persist. Dividend reliability is strong with 17 consecutive years of growth, but the current 3.1% yield is less compelling for income investors. Read the full article on Seeking AlphaNarrative Update • Sep 03
PM: Smoke Free Products And Supportive Regulation Will Drive Future Upside
Analysts have lifted their fair value estimate for Philip Morris International to $230 from $216, pointing to updated assumptions for revenue growth, profit margins and future P/E that reflect recent price target increases across the Street and continued confidence in IQOS and oral pouch volumes. Analyst Commentary Recent Street research on Philip Morris International has leaned constructive, with several bullish analysts lifting price targets and highlighting execution on reduced risk products as a key driver for their updated valuation work.
Narrative Update • Aug 20
PM: Smoke Free Shift And FDA Rulings Will Shape Balanced Risk Profile
Analysts have raised their average price target for Philip Morris International to about $204 from about $193, citing recent research that highlights confidence in IQOS and pouch volumes, a resilient combustible business, and modestly higher margin and P/E assumptions despite slightly softer modeled revenue growth. Analyst Commentary Recent Street commentary around Philip Morris International focuses on how the company is executing on reduced risk products, the resilience of its combustible portfolio, and what that could mean for valuation and medium term growth expectations.
Narrative Update • Aug 06
PM: Smoke-Free Execution And Regulation Will Shape Balanced Risk Reward Outlook
The analyst price target for Philip Morris International in this update moves from $170 to $175, with analysts pointing to recent target hikes across the Street and their rationale around IQOS, ZYN and the broader reduced risk portfolio as support for the change. Analyst Commentary Recent research around Philip Morris International centers on how quickly the company can execute its shift toward reduced risk products while keeping the traditional combustible business resilient.Narrative Update • Jul 22
PM: Smoke Free Shift And Supportive Regulation Will Drive Future Upside
Analysts have lifted their fair value estimate for Philip Morris International to $216 from $210, citing improved profit margins, a higher future P/E assumption, and growing confidence in the company’s reduced-risk product portfolio, as reflected in recent Street price target increases. Analyst Commentary Recent Street research on Philip Morris International points to a generally upbeat tone, with several bullish analysts revisiting their assumptions on valuation, execution, and the growth potential of reduced risk products.Analysis Article • Jun 16
Philip Morris International (PM) Stock Could Be 5.9% Undervalued After Dividend And 2026 Guidance
Philip Morris International (PM) is back in focus after reaffirming a quarterly dividend of $1.47 per share and updating its 2026 earnings guidance, as smoke-free products take a larger share of revenue. See our latest analysis for Philip Morris International. Philip Morris International’s recent dividend reaffirmation and updated 2026 earnings guidance come after a period where the share price is up 13.42% year to date, while the 5 year total shareholder return of 130.17% highlights how...Narrative Update • Jun 15
PM: Smoke Free Expansion And Regulatory Shift Will Drive Long-Term Upside
Analysts have lifted their blended price target for Philip Morris International to about $210. This reflects growing confidence in the company’s smoke free portfolio, including the planned U.S. launch of Zyn Ultra, recent IQOS developments in Japan, and expectations for an orderly CFO transition amid evolving FDA enforcement on vapes and nicotine pouches.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.Narrative 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.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 AlphaShareholder Returns
| PM | US Tobacco | US Market | |
|---|---|---|---|
| 7D | 4.7% | -0.3% | -2.2% |
| 1Y | 15.0% | -28.3% | 13.1% |
Return vs Industry: PM exceeded the US Tobacco industry which returned -28.3% over the past year.
Return vs Market: PM exceeded the US Market which returned 13.1% over the past year.
Price Volatility
| PM volatility | |
|---|---|
| PM Average Weekly Movement | 4.0% |
| Tobacco Industry Average Movement | 8.7% |
| Market Average Movement | 6.9% |
| 10% most volatile stocks in US Market | 15.4% |
| 10% least volatile stocks in US Market | 2.9% |
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 (4%) 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$295.78b |
| Earnings (TTM) | US$10.84b |
| Revenue (TTM) | US$42.55b |
27.5x
P/E Ratio7.0x
P/S RatioIs PM overvalued?
See Fair Value and valuation analysisEarnings & Revenue
| PM income statement (TTM) | |
|---|---|
| Revenue | US$42.55b |
| Cost of Revenue | US$13.84b |
| Gross Profit | US$28.71b |
| Other Expenses | US$17.87b |
| Earnings | US$10.84b |
Last Reported Earnings
Jun 30, 2026
Next Earnings Date
Oct 21, 2026
| Earnings per share (EPS) | 6.96 |
| Gross Margin | 67.48% |
| Net Profit Margin | 25.49% |
| Debt/Equity Ratio | -736.7% |
How did PM perform over the long term?
See historical performance and comparisonDividends
3.1%
Current Dividend Yield84%
Payout RatioCompany Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2026/09/11 21:29 |
| End of Day Share Price | 2026/09/11 00:00 |
| Earnings | 2026/06/30 |
| 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 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 35 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 |