Philip Morris International (PM) Financial Ratios: P/E, ROE & More

Philip Morris International (PM) Financial Ratios

For fiscal 2025 (fiscal year ended Dec 31, 2025), Philip Morris International had a P/E ratio of 22.07 (down from 26.60), debt-to-equity of -6.18 (down from -4.70), a current ratio of 0.96 (up from 0.88) and return on assets of 16.0% (up from 13.0%). A current ratio of 0.96 means current liabilities exceed current assets. Its dividend yield was 3.52% with a payout ratio of 76.0%.

Philip Morris International Financial Ratios Analysis

Valuation, profitability, leverage, and liquidity ratios

Income Statement Balance Sheet Cash Flow Ratios

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Breakdown	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period ending	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Valuation Ratios
P/E Ratio	22.07	26.60	18.75	17.39	16.28	16.04
Forward P/E	19.76	17.12	14.85	18.02	15.45	15.02
P/S Ratio	6.14	4.94	4.15	4.94	4.71	4.49
P/B Ratio	-31.10	-18.96	-15.46	-24.86	-18.02	-12.13
Price/FCF	23.41	17.37	18.53	16.13	13.18	14.00
Price/OCF	20.41	15.32	15.87	14.52	12.36	13.14
PEG Ratio	1.78	1.60	2.20	3.07	1.45	2.10
Enterprise Value Ratios
EV/Revenue	7.32	6.18	5.47	5.68	5.55	5.42
EV/EBITDA	15.90	15.61	13.16	12.99	12.39	12.24
EV/EBIT	17.80	17.72	14.55	14.08	13.34	13.26
EV/FCF	27.92	21.73	24.43	18.55	15.55	16.88
Profitability & Returns
Return on Assets (ROA)	15.96%	13.00%	13.02%	15.55%	18.98%	16.71%
Return on Invested Capital (ROIC)	32.89%	24.23%	28.15%	36.77%	43.42%	61.86%
Return on Capital Employed (ROCE)	38.20%	34.00%	34.00%	37.30%	59.30%	46.50%
Leverage & Solvency Ratios
Debt/Equity	-6.18	-4.70	-5.15	-6.94	-3.45	-3.03
Debt/EBITDA	2.59	3.01	3.25	3.08	1.97	2.48
Debt/FCF	4.65	4.30	6.17	4.50	2.53	3.50
Liquidity Ratios
Current Ratio	0.96	0.88	0.75	0.72	0.92	1.10
Quick Ratio	0.42	0.39	0.28	0.29	0.44	0.56
Efficiency Ratios
Asset Turnover	0.62	0.60	0.55	0.62	0.73	0.65
Inventory Turnover	1.28	1.32	1.25	1.19	1.10	1.02
Yield & Distribution Ratios
Earnings Yield	4.55%	3.77%	5.35%	5.77%	6.16%	6.25%
FCF Yield	4.27%	5.76%	5.40%	6.20%	7.59%	7.14%
Dividend Yield	3.52%	4.40%	5.46%	4.98%	5.14%	7.29%
Payout Ratio	76.00%	116.15%	101.93%	86.34%	83.21%	91.41%
Buyback Yield	-0.13%	-0.19%	-0.06%	0.45%	-0.06%	-0.13%
Total Return	3.39%	4.21%	5.40%	5.43%	5.07%	7.16%

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 Ratios

What is Philip Morris International's P/E ratio?

Philip Morris International's P/E ratio was 22.07 for fiscal 2025 (period ended Dec 31, 2025). It was 26.60 a year earlier.

What is Philip Morris International's debt-to-equity ratio?

Philip Morris International's debt-to-equity ratio was -6.18 for fiscal 2025 (period ended Dec 31, 2025). It was -4.70 a year earlier.

What is return on equity (ROE)?

Return on equity is net income divided by shareholders' equity. It measures how much profit a company generates from the capital its shareholders have invested. Full definition