Philip Morris International (PM) Financial Statements & Analysis

Philip Morris International (PM) Income Statement

Philip Morris International reported revenue of $40.65B in fiscal 2025 (fiscal year ended Dec 31, 2025), up 7.3% from $37.88B a year earlier. Net income was $11.35B, up 61.3% year over year, a net margin of 27.9%. Gross margin was 67.1% and operating margin 36.7%. In the most recent quarter, Q3 fiscal 2026 (ended Sep 30, 2026), revenue was $11.44B, up 5.5% from the same quarter a year earlier.

Philip Morris International Income Statement Analysis

Values in billions USD

Income Statement Balance Sheet Cash Flow Ratios

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Philip Morris International Inc. income statement - Annual data in billions USD
Breakdown	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019	FY 2018	FY 2017
Period ending	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020	Dec 2019	Dec 2018	Dec 2017
Revenue & Gross Profit
Revenue	40.65	37.88	35.17	31.76	31.41	28.69	29.81	29.63	28.75
Cost of Revenue	13.37	13.33	12.89	11.40	10.03	9.57	10.51	10.76	10.43
Gross Profit	27.28	24.55	22.28	20.36	21.38	19.13	19.29	18.87	18.32
Operating Expenses
Research & Development	0.00	0.00	0.00	0.00	0.62	0.50	0.47	0.38	0.45
Selling, General & Administrative	12.35	11.15	9.05	8.11	8.30	7.48	8.78	7.45	6.73
Operating Expenses	12.35	11.15	10.73	8.11	8.40	7.46	8.76	7.47	6.75
Operating Income	14.93	13.40	11.56	12.25	12.98	11.72	10.53	11.34	11.58
Other Income/Expense
Interest Income	0.62	0.62	0.16	0.18	0.15	0.11	0.23	0.19	0.18
Interest Expense	1.59	1.76	-1.53	0.77	-0.74	0.73	0.80	0.86	1.10
Other Income/Expense	-0.09	-1.20	-1.11	-0.02	-0.74	-0.75	-0.51	-0.61	-0.93
Income
Income Before Tax	13.88	12.20	10.61	11.63	12.38	10.97	10.02	10.73	10.65
Income Tax Expense	2.74	2.38	2.34	2.24	2.67	2.38	2.29	2.45	4.31
Net Income	11.35	7.03	7.81	9.05	9.11	8.06	7.19	7.91	6.04
Net Income - Continuous Operations	11.85	7.03	8.27	9.53	9.11	8.06	7.19	7.91	6.04
Net Income - Discontinued Operations	-	-	-	-	-	-	-	-	-
EBITDA	17.46	15.75	14.63	13.48	14.07	12.66	11.63	12.52	12.46
EBIT	15.47	13.22	13.23	12.40	13.08	-	-	-	-
Depreciation & Amortization	2.00	1.79	1.40	1.08	1.00	0.98	0.96	0.99	0.88
Earnings Per Share
Basic EPS	7.00	5.00	5.00	6.00	6.00	5.00	5.00	5.00	4.00
Diluted EPS	7.00	5.00	5.00	6.00	6.00	5.00	5.00	5.00	4.00
Basic Shares Outstanding	1.56	1.55	1.55	1.55	1.56	1.56	1.56	1.56	1.55
Diluted Shares Outstanding	1.56	1.56	1.55	1.55	1.56	1.56	1.56	1.56	1.55

Source: Company financial statements from annual and quarterly filings. Data as of Sep 30, 2026. Data sources and methodology

Frequently Asked Questions About Philip Morris International Financial Statements

What was Philip Morris International's revenue in fiscal 2025?

Philip Morris International reported revenue of $40.65B in fiscal 2025 (fiscal year ended Dec 31, 2025). That was up 7.3% from $37.88B a year earlier.

Is Philip Morris International profitable?

Yes. Philip Morris International earned net income of $11.35B in fiscal 2025, a net margin of 27.9%. In fiscal 2024 it earned $7.03B.

What is Philip Morris International's operating margin?

Philip Morris International's operating income was $14.93B on revenue of $40.65B in fiscal 2025, an operating margin of 36.7%, compared with 35.4% a year earlier.

What is net profit margin?

Net profit margin is net income divided by revenue. It shows how much of each dollar of sales a company keeps as profit after all costs, interest and taxes. Full definition