TICKDELTA
Sign in
Screener / SEC EDGAR /CIK 0001413329 /10-K filed Feb 6, 2026, compared with Feb 6, 2025 /Numbers from the XBRL of the 10-Ks
Consumer staples peers:
KHCPMMDLZKOTSNDG
NYSE Consumer staples · Tobacco

Philip Morris International PM

PM quote by TradingView

Philip Morris International Inc. is a Virginia holding company incorporated in 1987. 10-K, Item 1

Employees
84,900
Headquarters
Stamford, CT
Next results
around Feb 5, 2027
Compare with peers Embed

Where each dollar of revenue went, FY2025

Revenue of $40.6B through the costs to a net profit of $11.3B · income statement of the 10-K

37% operating margin
Revenue to Gross profit: $27.3BRevenue to Cost of revenue: $13.4BGross profit to Operating profit: $14.9BGross profit to Operating expenses: $12.4BOperating profit to Net profit: $11.3BOperating profit to Tax & other: $3.5BOperating expenses to R&D: $756.0MOperating expenses to Sales, admin & other: $11.6B Revenue: $40.6B REVENUE $40.6B +7% Y/Y Gross profit: $27.3B · 67% margin GROSS PROFIT $27.3B 67% margin · +11% Y/Y Cost of revenue: $13.4B · 33% of revenue COST OF REVENUE $13.4B 33% of revenue Operating profit: $14.9B · 37% margin OPERATING PROFIT $14.9B 37% margin · +11% Y/Y Operating expenses: $12.4B · 30% of revenue OPERATING EXPENSES $12.4B 30% of revenue Net profit: $11.3B · 28% margin NET PROFIT $11.3B 28% margin · +61% Y/Y Tax & other: $3.5B · 9% of revenue TAX & OTHER $3.5B 9% of revenue R&D: $756.0M · 2% of revenue R&D $756.0M 2% of revenue Sales, admin & other: $11.6B · 29% of revenue SALES, ADMIN & OTHER $11.6B 29% of revenue
Gross profit $27.3B 67% margin · +11% Y/Y
Operating profit $14.9B 37% margin · +11% Y/Y
Net profit $11.3B 28% margin · +61% Y/Y
The full income statement, year by year

PM among Consumer staples peers

Six ratios from the latest 10-K. Each corner is the share of 32 peers the company is above, not a score.

Compare
Revenue growth: 7.3%, above 81% of 32 peers (their median 2.0%) REVENUE GROWTH 7.3% · above 81% Gross margin: 67.7%, above 97% of 30 peers (their median 38.9%) GROSS MARGIN 67.7% · above 97% Operating margin: 38.6%, above 96% of 28 peers (their median 13.6%) OPERATING MARGIN 38.6% · above 96% Net margin: 24.8%, above 94% of 32 peers (their median 7.6%) NET MARGIN 24.8% · above 94% FCF margin: 31.5%, above 97% of 32 peers (their median 10.4%) FCF MARGIN 31.5% · above 97%
PM Peer median Below the median

What changed

12 new risk paragraphs and 2 accounting facts worth reading about. 10-K filed Feb 6, 2026 against Feb 6, 2025.

Risk factors
12 new paragraphs, nothing like them in the previous 10-K
10-K Item 1A
Receivables growing faster than revenue
Receivables +20.7% vs revenue +7.3% (+13.4 pts)
10-K · XBRL
Inventory growing faster than revenue
Inventory +21.4% vs revenue +7.3% (+14.1 pts)
10-K · XBRL
Accounting checks
9 other checks clear, 2 worth a look
10-K · XBRL
Insiders
No open-market buys in the last 90 days
Form 4
Filings
2 in the last 30 days
EDGAR

Each row opens the detail with the quote and the filing. A row is a change worth reading, not a verdict.

Accounting checks

11 checks on the latest 10-K. Checks, not verdicts.

How it works

2facts worth reading about the other 9 checks found nothing to note

  • Receivables growing faster than revenue
    Receivables +20.7% vs revenue +7.3% (+13.4 pts)
  • Inventory growing faster than revenue
    Inventory +21.4% vs revenue +7.3% (+14.1 pts)
  • Cash from operations $12.2B vs net income $11.3B (FY ending Dec 31, 2025)
8 more checks with nothing to note
  • Same auditor in both 10-Ks: PricewaterhouseCoopers SA
  • No statement of substantial doubt about going concern
  • No 8-K item 4.02 in the last 2 years
  • No NT 10-K or NT 10-Q in the last 2 years
  • No longer listed: Impairment Related to the Rothmans, Benson & Hedges Equity Investment. Same as last year: Tobacco-Related Litigation for Smoking and Health Class Actions and Health Care Cost Recovery Cases; PricewaterhouseCoopers SA; Lausanne, Switzerland; February 6, 2026
  • No sentence in the 10-K concludes that controls were not effective because of a material weakness
  • No 8-K item 2.06 in the last 2 years
  • No 8-K item 1.03 in the last 2 years

In their words

12 paragraphs in Risk Factors that were not in the 10-K filed Feb 6, 2025. Quoted as filed.

All 12 new paragraphs
  1. Item 1A · new paragraph · not in the 10-K filed Feb 6, 2025 10-K, ITEM 1A
    Our strategic priority is the continued introduction, commercialization, and growth of our SFPs and if these efforts are not successful, in key markets or systematically, our financial results and future growth prospects may be materially adversely impacted. If other market participants are more successful in these efforts or if SFP…
  2. Item 1A · new paragraph · not in the 10-K filed Feb 6, 2025 10-K, ITEM 1A
    We anticipate that significant regulatory restrictions will continue to be considered and adopted in many markets. Regulatory initiatives that have been contemplated, proposed, introduced, or enacted by governmental authorities in various jurisdictions include:
  3. Item 1A · new paragraph · not in the 10-K filed Feb 6, 2025 10-K, ITEM 1A
    Classification of the product as food such that any nicotine amounts beyond de minimis content de facto bans the nicotine product from the market
  4. Item 1A · new paragraph · not in the 10-K filed Feb 6, 2025 10-K, ITEM 1A
    The success of our business in the United States is dependent on an evolving legal and regulatory framework.

New risk paragraphs, against peers

Latest 10-K of each, Consumer staples companies closest in revenue

Paragraphs in Risk Factors with nothing like them in the company's 10-K the year before. A count of text, not of risk.

Financial performance

Last 4 fiscal years · 10-K XBRL

All years
MetricFY2022FY2023FY2024FY2025
Revenue$31.8B$35.2B$37.9B$40.6B
Net income$9.0B$7.8B$7.1B$11.3B
Operating cash flow$10.8B$9.2B$12.2B$12.2B
Free cash flow$9.7B$7.9B$10.8B$10.7B

Revenue, FY2016 to FY2025

Ten fiscal years, each from its own 10-K · XBRL · USD

$40.6B ▲ 7.3% in FY2025

FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Every number, year by year

Recent filings

2 filings in the last 30 days · SEC EDGAR

All filings

About the company

Philip Morris International, Stamford, CT · from the 10-K filed Feb 6, 2026

Philip Morris International Inc. is a Virginia holding company incorporated in 1987. In March 2008, we became a U.S. public company listed on the New York Stock Exchange and subject to the rules of the U.S. Securities and Exchange Commission (the "SEC"). We are a leading international consumer goods company, actively delivering a smoke-free future and evolving our portfolio for the long term to include products outside of the tobacco and nicotine sector. Our current product portfolio primarily consists of cigarettes and smoke-free products, including heat-not-burn, nicotine pouch and e-vapor products.

Headquarters
Stamford, CT
Country
United States
Reports in
USD
Listed on
NYSE
Fiscal year ends
December 31
Last results
Oct 21, 2026
Incorporated in
VA

Employees, at the top of the page: "At December 31, 2025, we employed approximately 84,900 people worldwide, including full-time, temporary and part-time staff" (10-K). Address and exchange: SEC's company file.

Email alerts

Sources

The 10-K filed Feb 6, 2026 (open at SEC), compared with the 10-K filed Feb 6, 2025. Numbers from the XBRL of the 10-Ks; filings from SEC EDGAR.

Work with it: Excel workbook · CSV. Google Sheet that stays up to date: paste =IMPORTDATA("https://tickdelta.com/company/PM/export.csv") into a cell.