Financials Philip Morris International, Inc.

Equities

PM

US7181721090

Tobacco

Market Closed - Nyse Other stock markets 02:30:02 09/12/2025 am IST			5-day change	1st Jan Change
148.29 ^USD	+0.32%		-5.03%	+23.22%

03/12	Philip Morris International, Ferrari Expand Partnership	MT
03/12	Philip Morris International, Ferrari Expand Partnership	MT

Projected Income Statement: Philip Morris International, Inc.

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026	2027
Net sales ¹	28,694	31,405	31,762	35,174	37,878	40,704	43,830	46,724
Change	-	9.45%	1.14%	10.74%	7.69%	7.46%	7.68%	6.6%
EBITDA ¹	12,679	14,486	13,802	14,193	15,580	17,227	19,087	20,400
Change	-	14.25%	-4.72%	2.83%	9.77%	10.57%	10.79%	6.88%
EBIT ¹	11,698	13,488	12,908	13,337	14,688	16,233	17,720	19,294
Change	-	15.3%	-4.3%	3.32%	10.13%	10.52%	9.16%	8.89%
Interest Paid ¹	-618	-628	-588	-1,061	-1,143	-1,024	-1,044	-961.5
Earnings before Tax (EBT) ¹	10,953	12,232	11,634	10,450	12,199	13,733	15,861	17,332
Change	-	11.68%	-4.89%	-10.18%	16.74%	12.58%	15.5%	9.27%
Net income ¹	8,056	9,109	9,048	7,813	7,057	11,275	12,415	13,552
Change	-	13.07%	-0.67%	-13.65%	-9.68%	59.77%	10.11%	9.16%
Announcement Date	04/02/21	10/02/22	09/02/23	08/02/24	06/02/25	-	-	-

¹USD in Million

Estimates

Fiscal Period: December	2020 Q4	2021 Q1	2021 Q2	2021 Q3	2021 Q4	2022 Q1	2022 Q2	2022 Q3	2022 Q4	2023 Q1	2023 Q2	2023 Q3	2023 Q4	2024 Q1	2024 Q2	2024 Q3	2024 Q4	2025 Q1	2025 Q2	2025 Q3	2025 Q4	2026 Q1	2026 Q2	2026 Q3	2026 Q4	2027 Q1	2027 Q2	2027 Q3
Net sales ¹	7,444	7,585	7,594	8,122	8,104	7,746	7,832	8,032	8,152	8,019	8,967	9,141	9,047	8,793	9,468	9,911	9,706	9,301	10,140	10,845	10,394	10,216	10,840	11,536	11,175	10,450	11,251	12,075
Change	-	1.89%	0.12%	6.95%	-0.22%	-4.42%	1.11%	2.55%	1.49%	-1.63%	11.82%	1.94%	-1.03%	-2.81%	7.68%	4.68%	-2.07%	-4.17%	9.02%	6.95%	-4.15%	-1.72%	6.11%	6.42%	-3.13%	-6.49%	7.66%	7.32%
EBITDA ¹	3,136	3,737	3,693	3,784	3,272	3,589	3,470	3,542	3,201	3,215	3,745	3,950	3,283	3,592	3,875	4,380	3,733	4,012	4,475	4,911	4,662	4,812	4,839	-	-	-	-	-
Change	-	19.16%	-1.18%	2.46%	-13.53%	9.69%	-3.32%	2.07%	-9.63%	0.44%	16.49%	5.47%	-16.89%	9.41%	7.88%	13.03%	-14.77%	7.47%	11.54%	9.74%	-5.07%	3.22%	0.56%	-	-	-	-	-
EBIT ¹	2,864	3,492	3,454	3,549	2,993	3,340	3,224	3,330	2,976	3,019	3,532	3,734	3,052	3,360	3,656	4,153	3,519	3,790	4,246	4,670	3,814	4,186	4,541	5,054	4,213	-	-	-
Change	-	21.93%	-1.09%	2.75%	-15.67%	11.59%	-3.47%	3.29%	-10.63%	1.44%	16.99%	5.72%	-18.26%	10.09%	8.81%	13.59%	-15.27%	7.7%	12.03%	9.99%	-18.33%	9.75%	8.49%	11.29%	-16.64%	-	-	-
Charge d'intérêts ¹	-164	-167	-161	-154	-146	-154	-126	-138	-170	-230	-297	-261	-273	-299	-329	-189	-326	-241	-277	-230	-279.3	-261	-261	-261	-261	-	-	-
Earnings before Tax (EBT) ¹	2,712	3,249	2,941	3,274	2,768	3,140	2,925	2,823	2,746	2,479	2,263	3,101	2,607	2,731	3,101	3,450	2,917	3,291	3,424	4,019	3,317	3,340	3,785	4,258	3,358	-	-	-
Change	-	19.8%	-9.48%	11.32%	-15.46%	13.44%	-6.85%	-3.49%	-2.73%	-9.72%	-8.71%	37.03%	-15.93%	4.76%	13.55%	11.25%	-15.45%	12.82%	4.04%	17.38%	-17.47%	0.69%	13.33%	12.5%	-21.13%	-	-	-
Net income ¹	1,976	2,418	2,172	2,426	2,093	2,331	2,233	2,087	2,397	1,995	1,568	2,054	2,196	2,148	2,406	3,082	-579	2,690	3,039	3,478	2,305	2,487	2,875	3,214	2,556	2,751	3,159	3,518
Change	-	22.37%	-10.17%	11.69%	-13.73%	11.37%	-4.2%	-6.54%	14.85%	-16.77%	-21.4%	30.99%	6.91%	-2.19%	12.01%	28.1%	-118.79%	564.59%	12.97%	14.45%	-33.72%	7.91%	15.56%	11.82%	-20.49%	7.66%	14.83%	11.37%
Announcement Date	04/02/21	20/04/21	20/07/21	19/10/21	10/02/22	21/04/22	21/07/22	20/10/22	09/02/23	20/04/23	20/07/23	19/10/23	08/02/24	23/04/24	23/07/24	22/10/24	06/02/25	23/04/25	22/07/25	21/10/25	-	-	-	-	-	-	-	-

¹USD in Million

Estimates

Forecast Balance Sheet: Philip Morris International, Inc.

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026	2027
Net Debt ¹	24,256	23,310	39,916	44,849	41,479	40,924	38,409	35,798
Change	-	-3.9%	71.24%	12.36%	-7.51%	-1.34%	-6.15%	-6.8%
Announcement Date	04/02/21	10/02/22	09/02/23	08/02/24	06/02/25	-	-	-

¹USD in Million

Estimates

Cash Flow Forecast: Philip Morris International, Inc.

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026	2027
CAPEX ¹	602	748	1,077	1,321	1,444	1,558	1,526	1,620
Change	-	24.25%	43.98%	22.66%	9.31%	7.86%	-2.01%	6.16%
Free Cash Flow (FCF) ¹	9,210	11,219	9,726	7,883	10,773	10,320	13,092	14,629
Change	-	21.81%	-13.31%	-18.95%	36.66%	-4.2%	26.86%	11.74%
Announcement Date	04/02/21	10/02/22	09/02/23	08/02/24	06/02/25	-	-	-

¹USD in Million

Estimates

Forecast Financial Ratios: Philip Morris International, Inc.

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026	2027
Profitability
EBITDA Margin (%)	44.19%	46.13%	43.45%	40.35%	41.13%	42.32%	43.55%	43.66%
EBIT Margin (%)	40.77%	42.95%	40.64%	37.92%	38.78%	39.88%	40.43%	41.29%
EBT Margin (%)	38.17%	38.95%	36.63%	29.71%	32.21%	33.74%	36.19%	37.09%
Net margin (%)	28.08%	29%	28.49%	22.21%	18.63%	27.7%	28.32%	29%
FCF margin (%)	32.1%	35.72%	30.62%	22.41%	28.44%	25.35%	29.87%	31.31%
FCF / Net Income (%)	114.32%	123.16%	107.49%	100.9%	152.66%	91.53%	105.46%	107.95%
Profitability
ROA	18.37%	21.16%	18.03%	14.7%	16.09%	17.71%	19.16%	20.68%
ROE	-	-	-	-	-	-	-	-
Financial Health
Leverage (Debt/EBITDA)	1.91x	1.61x	2.89x	3.16x	2.66x	2.38x	2.01x	1.75x
Debt / Free cash flow	2.63x	2.08x	4.1x	5.69x	3.85x	3.97x	2.93x	2.45x
Capital Intensity
CAPEX / Current Assets (%)	2.1%	2.38%	3.39%	3.76%	3.81%	3.83%	3.48%	3.47%
CAPEX / EBITDA (%)	4.75%	5.16%	7.8%	9.31%	9.27%	9.04%	8%	7.94%
CAPEX / FCF (%)	6.54%	6.67%	11.07%	16.76%	13.4%	15.09%	11.66%	11.08%
Items per share
Cash flow per share ¹	6.298	7.676	6.961	5.927	7.852	7.572	8.939	9.9
Change	-	21.88%	-9.32%	-14.86%	32.48%	-3.55%	18.05%	10.74%
Dividend per Share ¹	4.74	4.9	5.04	5.2	5.4	5.912	6.271	6.353
Change	-	3.38%	2.86%	3.17%	3.85%	9.49%	6.07%	1.31%
Book Value Per Share ¹	-8.069	-6.486	-5.771	-7.228	-7.551	-6.215	-4.604	-1.023
Change	-	19.61%	11.03%	-25.24%	-4.48%	17.69%	25.93%	77.78%
EPS ¹	5.16	5.83	5.81	5.02	4.52	7.231	7.978	8.738
Change	-	12.98%	-0.34%	-13.6%	-9.96%	59.98%	10.32%	9.53%
Nbr of stocks (in thousands)	15,57,316	15,56,828	15,50,202	15,52,406	15,54,833	15,56,639	15,56,639	15,56,639
Announcement Date	04/02/21	10/02/22	09/02/23	08/02/24	06/02/25	-	-	-