Financials Philip Morris International, Inc.

Equities

PM

US7181721090

Tobacco

Market Closed - Nyse Other stock markets 04:00:02 2025-07-17 pm EDT			5-day change	1st Jan Change
179.17 ^USD	-2.24%		+0.67%	+48.87%

Jul. 17	Juul Labs Wins FDA Clearance to Keep E-Cigarettes on US Market	MT
Jul. 17	Philip Morris, Altria Shares Decline Following FDA's Juul Ruling	DJ

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	41,125	44,579	47,418
Change	-	9.45%	1.14%	10.74%	7.69%	8.57%	8.4%	6.37%
EBITDA ¹	12,679	14,486	13,802	14,193	15,580	18,039	19,851	21,603
Change	-	14.25%	-4.72%	2.83%	9.77%	15.79%	10.04%	8.83%
EBIT ¹	11,698	13,488	12,908	13,337	14,688	16,591	18,100	19,672
Change	-	15.3%	-4.3%	3.32%	10.13%	12.96%	9.09%	8.68%
Interest Paid ¹	-618	-628	-588	-1,061	-1,143	-1,073	-1,048	-999.2
Earnings before Tax (EBT) ¹	10,953	12,232	11,634	10,450	12,199	15,126	16,822	18,206
Change	-	11.68%	-4.89%	-10.18%	16.74%	24%	11.21%	8.23%
Net income ¹	8,056	9,109	9,048	7,813	7,057	11,286	12,525	13,700
Change	-	13.07%	-0.67%	-13.65%	-9.68%	59.93%	10.98%	9.38%
Announcement Date	2/4/21	2/10/22	2/9/23	2/8/24	2/6/25	-	-	-

¹USD in Million

Estimates

Fiscal Period: December	2020 Q2	2020 Q3	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
Net sales ¹	6,651	7,446	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	10,324	10,749	10,782	10,395	11,089	11,428	11,483	10,559
Change	-	11.95%	-0.03%	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%	11%	4.12%	0.3%	-3.59%	6.67%	3.06%	0.48%	-8.05%
EBITDA ¹	3,031	3,482	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	4,394	4,881	4,323	4,626	4,817	5,246	4,634	-
Change	-	14.88%	-9.94%	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%	9.52%	11.08%	-11.43%	7.01%	4.13%	8.91%	-11.67%	-
EBIT ¹	2,802	3,243	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	4,168	4,611	4,053	4,315	4,591	5,032	4,396	-
Change	-	15.74%	-11.69%	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%	9.98%	10.62%	-12.09%	6.47%	6.39%	9.62%	-12.65%	-
Charge d'intérêts ¹	-162	-163	-164	-167	-161	-154	-146	-154	-126	-138	-170	-230	-297	-261	-273	-299	-329	-189	-326	-241	-260.3	-263.3	-274.7	-241	-241	-241	-241	-
Earnings before Tax (EBT) ¹	2,547	3,057	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	3,789	4,264	3,679	3,868	4,050	4,613	4,019	4,221
Change	-	20.02%	-11.29%	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%	15.14%	12.53%	-13.73%	5.14%	4.71%	13.92%	-12.88%	5.03%
Net income ¹	1,947	2,307	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	2,789	3,184	2,730	3,031	3,197	3,634	3,206	3,306
Change	-	18.49%	-14.35%	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%	3.66%	14.18%	-14.25%	11.01%	5.49%	13.66%	-11.78%	3.12%
Announcement Date	7/21/20	10/20/20	2/4/21	4/20/21	7/20/21	10/19/21	2/10/22	4/21/22	7/21/22	10/20/22	2/9/23	4/20/23	7/20/23	10/19/23	2/8/24	4/23/24	7/23/24	10/22/24	2/6/25	4/23/25	-	-	-	-	-	-	-	-

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	39,958	37,095	34,275
Change	-	-3.9%	71.24%	12.36%	-7.51%	-3.67%	-7.17%	-7.6%
Announcement Date	2/4/21	2/10/22	2/9/23	2/8/24	2/6/25	-	-	-

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	1,517	1,535	1,611
Change	-	24.25%	43.98%	22.66%	9.31%	5.02%	1.19%	4.96%
Free Cash Flow (FCF) ¹	9,210	11,219	9,726	7,883	10,773	10,992	12,932	14,368
Change	-	21.81%	-13.31%	-18.95%	36.66%	2.03%	17.65%	11.1%
Announcement Date	2/4/21	2/10/22	2/9/23	2/8/24	2/6/25	-	-	-

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%	43.87%	44.53%	45.56%
EBIT Margin (%)	40.77%	42.95%	40.64%	37.92%	38.78%	40.34%	40.6%	41.49%
EBT Margin (%)	38.17%	38.95%	36.63%	29.71%	32.21%	36.78%	37.74%	38.4%
Net margin (%)	28.08%	29%	28.49%	22.21%	18.63%	27.44%	28.1%	28.89%
FCF margin (%)	32.1%	35.72%	30.62%	22.41%	28.44%	26.73%	29.01%	30.3%
FCF / Net Income (%)	114.32%	123.16%	107.49%	100.9%	152.66%	97.39%	103.24%	104.88%
Profitability
ROA	18.37%	21.16%	18.03%	14.7%	16.09%	17.97%	19.66%	21.15%
ROE	-	-	-	-	-	-	-	-
Financial Health
Leverage (Debt/EBITDA)	1.91x	1.61x	2.89x	3.16x	2.66x	2.22x	1.87x	1.59x
Debt / Free cash flow	2.63x	2.08x	4.1x	5.69x	3.85x	3.64x	2.87x	2.39x
Capital Intensity
CAPEX / Current Assets (%)	2.1%	2.38%	3.39%	3.76%	3.81%	3.69%	3.44%	3.4%
CAPEX / EBITDA (%)	4.75%	5.16%	7.8%	9.31%	9.27%	8.41%	7.73%	7.46%
CAPEX / FCF (%)	6.54%	6.67%	11.07%	16.76%	13.4%	13.8%	11.87%	11.21%
Items per share
Cash flow per share ¹	6.298	7.676	6.961	5.927	7.852	7.853	8.75	10.03
Change	-	21.88%	-9.32%	-14.86%	32.48%	0.02%	11.43%	14.59%
Dividend per Share ¹	4.74	4.9	5.04	5.2	5.4	5.584	5.925	6.235
Change	-	3.38%	2.86%	3.17%	3.85%	3.41%	6.1%	5.24%
Book Value Per Share ¹	-8.069	-6.486	-5.771	-7.228	-7.551	-6.398	-4.104	-4.558
Change	-	19.61%	11.03%	-25.24%	-4.48%	15.28%	35.86%	-11.06%
EPS ¹	5.16	5.83	5.81	5.02	4.52	7.234	8.055	8.823
Change	-	12.98%	-0.34%	-13.6%	-9.96%	60.03%	11.36%	9.53%
Nbr of stocks (in thousands)	1,557,316	1,556,828	1,550,202	1,552,406	1,554,833	1,556,517	1,556,517	1,556,517
Announcement Date	2/4/21	2/10/22	2/9/23	2/8/24	2/6/25	-	-	-