Company Valuation: Philip Morris International, Inc.

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Capitalization 1 1,47,899 1,56,896 1,46,050 1,87,124 2,49,685 2,50,066 - -
Change - 6.08% -6.91% 28.12% 33.43% 0.15% - -
Enterprise Value (EV) 1 1,71,209 1,96,812 1,90,899 2,28,603 2,93,648 2,91,534 2,88,205 2,85,436
Change - 14.95% -3% 19.75% 28.45% -0.72% -1.14% -0.96%
P/E ratio 16.3x 17.4x 18.7x 26.6x 22.1x 20.2x 18.5x 16.8x
PBR -14.6x -17.5x -13x -15.9x -25x -39x -117x -156x
PEG - -50.72x -1.4x -2.67x 0.4x 2.1x 2.09x 1.7x
Capitalization / Revenue 4.71x 4.94x 4.15x 4.94x 6.14x 5.74x 5.37x 5.03x
EV / Revenue 5.45x 6.2x 5.43x 6.04x 7.22x 6.69x 6.19x 5.74x
EV / EBITDA 11.8x 14.3x 13.5x 14.7x 16.9x 15.2x 14x 13x
EV / EBIT 12.7x 15.2x 14.3x 15.6x 17.9x 16.4x 14.9x 13.8x
EV / FCF - - - - - - 2,02,55,757x 1,86,12,784x
FCF Yield - - - - - - 0% 0%
Dividend per Share 2 4.9 5.04 5.2 5.4 - 5.968 6.345 6.736
Rate of return 5.16% 4.98% 5.53% 4.49% - 3.72% 3.95% 4.2%
EPS 2 5.83 5.81 5.02 4.52 7.26 7.958 8.664 9.544
Distribution rate 84% 86.7% 104% 119% - 75% 73.2% 70.6%
Net sales 1 31,405 31,762 35,174 37,878 40,648 43,562 46,527 49,756
EBITDA 1 14,486 13,802 14,193 15,580 17,375 19,129 20,572 21,932
EBIT 1 13,488 12,908 13,337 14,688 16,428 17,767 19,314 20,713
Net income 1 9,109 9,048 7,813 7,057 11,348 12,405 13,463 14,780
Net Debt 1 23,310 39,916 44,849 41,479 43,963 41,467 38,139 35,370
Reference price 2 95.00 101.21 94.08 120.35 160.40 160.45 160.45 160.45
Nbr of stocks (in thousands) 15,56,828 15,50,202 15,52,406 15,54,833 15,56,639 15,58,530 - -
Announcement Date 10/02/22 09/02/23 08/02/24 06/02/25 06/02/26 - - -
1USD in Million2USD
Estimates

P/E ratio, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
20.16x6.69x15.24x3.72% 25TCr
12.96x4.72x9.85x5.78% 13TCr
10.73x3.2x7.34x5.47% 3.23TCr
47.12x3.21x32.77x2.38% 743.54Cr
15.4x2.08x9.51x6.48% 261.21Cr
28.42x - - 0.38% 161.61Cr
13.03x - - - 133.17Cr
Average 21.12x 3.98x 14.94x 4.04% 6.03TCr
Weighted average by Cap. 17.73x 5.73x 13.27x 4.46%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA

Year-on-year evolution of the Yield

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