Philip Morris International (PM) Balance Sheet: Assets & Liabilities

Philip Morris International (PM) Balance Sheet

As of Dec 31, 2025 (end of fiscal 2025), Philip Morris International reported total assets of $69.19B and total liabilities of $77.21B. Shareholders' equity was negative at −$9.99B, meaning liabilities exceed assets. Total debt stood at $48.84B against $4.87B in cash and short-term investments, a net debt position of $43.96B.

Philip Morris International Balance Sheet Analysis

Values in billions USD

Income Statement Balance Sheet Cash Flow Ratios

Scale:

Scroll to see more

Balance sheet showing assets, liabilities, and shareholders' equity for Philip Morris International Inc. (PM) - 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
Current Assets
Cash and Cash Equivalents	4.87	4.22	3.06	3.21	4.50	7.28	6.86	6.59	8.45
Cash & Short-Term Investments	4.87	4.22	3.06	3.21	4.50	7.28	6.86	6.59	8.45
Accounts Receivable	4.57	4.68	3.46	4.76	3.12	3.76	3.72	3.56	3.74
Inventory	11.48	9.45	10.77	9.89	8.72	9.59	9.24	8.80	8.81
Other Current Assets	2.20	1.83	1.53	1.77	0.56	0.86	0.70	0.48	0.60
Total Current Assets	24.36	20.17	19.76	19.62	17.72	21.49	20.51	19.44	21.59
Non-Current Assets
Property, Plant & Equipment (Net)	8.40	7.31	7.52	6.71	6.17	6.37	6.63	7.20	7.27
Long-Term Investments	2.89	2.65	4.93	4.43	4.46	4.80	4.64	1.27	1.07
Goodwill	17.26	16.60	16.78	19.66	6.68	5.96	5.86	7.19	7.67
Intangible Assets	10.88	11.33	9.86	6.73	2.82	2.02	2.11	2.28	2.43
Other Non-Current Assets	4.14	2.78	6.46	3.93	3.44	2.77	1.97	1.45	1.92
Total Non-Current Assets	44.82	41.61	45.55	42.06	23.57	23.32	22.36	20.36	21.37
Total Assets	69.19	61.78	65.30	61.68	41.29	44.82	42.88	39.80	42.97
Current Liabilities
Accounts Payable	4.41	3.95	4.14	4.08	3.33	2.78	2.30	2.07	2.24
Short-Term Debt	3.70	3.53	1.97	8.25	0.23	3.37	4.39	4.78	3.01
Current Portion of Long-Term Debt	3.53	3.39	4.70	2.61	2.80	-	-	-	-
Accrued Liabilities	4.65	3.85	13.53	3.37	10.94	-	-	-	-
Other Current Liabilities	17.32	15.01	2.04	6.53	1.96	5.97	5.51	4.68	4.58
Total Current Liabilities	25.43	22.92	26.38	27.34	19.26	19.62	18.83	17.19	15.96
Non-Current Liabilities
Long-Term Debt	45.13	42.17	41.24	34.88	24.78	28.17	26.66	26.98	31.33
Deferred Tax Liabilities	2.07	2.52	2.34	1.96	0.73	0.68	0.91	0.90	0.80
Other Non-Current Liabilities	2.18	4.06	7.12	3.83	5.46	6.98	6.08	5.48	5.10
Total Non-Current Liabilities	51.79	48.74	48.37	40.66	30.24	35.83	33.64	33.35	37.24
Total Liabilities	77.21	71.65	74.75	67.99	49.50	55.45	52.47	50.54	53.20
Stockholders' Equity
Retained Earnings	35.40	32.87	34.09	34.29	33.08	31.64	30.99	31.01	29.86
Accumulated Other Comprehensive Income	-12.30	-11.31	-11.82	-9.56	-9.58	-11.18	-9.36	-10.11	-8.54
Treasury Stock	35.55	35.64	35.79	35.92	-	-	-	-	-
Additional Paid-in Capital	2.45	-33.31	-33.50	-33.69	-33.61	-33.02	-33.20	-33.36	-33.41
Minority Interest	1.97	1.88	1.78	2.65	1.90	1.94	1.98	1.72	1.86
Shares Outstanding	1.56	1.55	1.55	1.55	-	-	-	-	-
Total Stockholders' Equity	-9.99	-11.75	-9.45	-8.96	-8.21	-12.57	-11.58	-12.46	-12.09
Total Liabilities & Equity	69.19	61.78	65.30	61.68	41.29	44.82	42.88	39.80	42.97

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 Balance Sheet

How much debt does Philip Morris International have?

Philip Morris International had total debt of $48.84B as of Dec 31, 2025, against $4.87B in cash and short-term investments. Total debt was $45.70B a year earlier.

What are Philip Morris International's total assets?

Philip Morris International reported total assets of $69.19B as of Dec 31, 2025, up 12.0% from $61.78B a year earlier. Total liabilities were $77.21B.

What is Philip Morris International's shareholders' equity?

Philip Morris International's shareholders' equity was negative at −$9.99B as of Dec 31, 2025, so its liabilities exceeded its assets.

What is the debt-to-equity ratio?

The debt-to-equity ratio divides a company's total debt by its shareholders' equity. It shows how much of the business is financed with borrowed money; normal levels vary widely by industry. Full definition