MOAltria

Consumer staples · Tobacco · NYSE

Employees: 5,900
Headquarters: Richmond, VA
CEO: Salvatore Mancuso
Next results: around Jan 28, 2027

RevenueFY2016–25 $23.3B−3.1% FY2024: $24.0B 10-K FY2025 · XBRL Net incomeFY2016–25 $6.9B−38.3% FY2024: $11.3B 10-K FY2025 · XBRL Free cash flowFY2016–25 $9.1B+5.4% FY2024: $8.6B 10-K FY2025 · XBRL Operating marginFY2016–25 42.5%−4.3 pts 34.0% in FY2016 10-K FY2025 · XBRL

What changed

10-K filed Feb 25, 2026 against Feb 26, 2025

Area	What changed	Source
Risk factors	6 new paragraphs, nothing like them in the previous 10-K	10-K Item 1A
Receivables growing faster than revenue	Receivables +48.6% vs revenue -3.1% (+51.7 pts)	10-K · XBRL
Critical audit matters changed	New this year: E-vapor Definite-Lived Intangible Assets Impairment Assessment (“As described in Notes 2 and 4 to the consolidated financial statements, the Company’s definite-lived intangible assets carrying value was $787 million as of December 31, 2025, and the carrying value associated with e-vapor definite-lived intangible assets was $60 million. Management reviews long-liv”). No longer listed: T able of Contents; E-Vapor Product Litigation; T able of Contents. Same as last year: Skoal Trademark Impairment Assessment; Goodwill Impairment Assessments - E-vapor Reporting Unit	10-K · XBRL
Accounting checks	9 other checks clear, 2 worth a look	10-K · XBRL
Insiders	1 open-market buy 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.

What's new, in their words

10-K filed Feb 25, 2026

Paragraphs in Risk Factors that were not in the 10-K filed 2025-02-26. Quoted as filed.

Additional price competition has resulted from diversion into the United States market of cigarettes intended for sale outside the United States, diversion of tobacco products intended for sale in one taxing jurisdiction within the United States into another taxing jurisdiction, the sale of counterfeit cigarettes by third parties, the…
10-K, Item 1A

All 6 new paragraphs →

Accounting checks

latest 10-K

9 of 11 clear 2 worth a look. Checks, not verdicts.

!
Receivables growing faster than revenueReceivables +48.6% vs revenue -3.1% (+51.7 pts)
!
Critical audit matters changedNew this year: E-vapor Definite-Lived Intangible Assets Impairment Assessment (“As described in Notes 2 and 4 to the consolidated financial statements, the Company’s definite-lived intangible assets carrying value was $787 million as of December 31, 2025, and the carrying value associated with e-vapor definite-lived intangible assets was $60 million. Management reviews long-liv”). No longer listed: T able of Contents; E-Vapor Product Litigation; T able of Contents. Same as last year: Skoal Trademark Impairment Assessment; Goodwill Impairment Assessments - E-vapor Reporting Unit
✓
Cash from operations $9.3B vs net income $6.9B (FY ending 2025-12-31)
✓
Inventory -0.9% vs revenue -3.1% (+2.2 pts)
✓
Same auditor in both 10-Ks: PricewaterhouseCoopers LLP
✓
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 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

How each check works, with sources →

In the last 30 days

All filings →

Oct 29, 20268-K Quarterly results, Other events 8-K items 2.02, 8.01
Oct 29, 202610-Q Quarterly report (10-Q) period ended Sep 30, 2026

Get an email when this changes: new risk paragraphs, accounting items, insider purchases, a new 10-K or 10-Q. RSS feed

Work on MO in a spreadsheet: Excel workbook (a sheet per section, ten years by column, charts, links to the filings) · CSV. For a Google Sheet that stays up to date, paste =IMPORTDATA("https://tickdelta.com/company/MO/export.csv") into a cell.