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Screener / SEC EDGAR /CIK 0000764180 /10-K filed Feb 25, 2026, compared with Feb 26, 2025 /Numbers from the XBRL of the 10-Ks
Consumer staples peers:
KDPKHCDLTRMOCLCASY
NYSE Consumer staples · Tobacco

Altria MO

MO quote by TradingView
Employees
5,900
Headquarters
Richmond, VA
CEO
Salvatore Mancuso
Next results
around Jan 28, 2027
Compare with peers Embed

Where each dollar of revenue went, FY2025

Revenue of $23.3B through the costs to a net profit of $6.9B · income statement of the 10-K

43% operating margin
Revenue to Gross profit: $14.5BRevenue to Cost of revenue: $8.7BGross profit to Operating profit: $9.9BGross profit to Operating expenses: $4.6BOperating profit to Net profit: $6.9BOperating profit to Tax & other: $3.0BOperating expenses to R&D: $195.0MOperating expenses to Sales, admin & other: $4.4B Revenue: $23.3B REVENUE $23.3B −3% Y/Y Gross profit: $14.5B · 62% margin GROSS PROFIT $14.5B 62% margin · +1% Y/Y Cost of revenue: $8.7B · 38% of revenue COST OF REVENUE $8.7B 38% of revenue Operating profit: $9.9B · 43% margin OPERATING PROFIT $9.9B 43% margin · −12% Y/Y Operating expenses: $4.6B · 20% of revenue OPERATING EXPENSES $4.6B 20% of revenue Net profit: $6.9B · 30% margin NET PROFIT $6.9B 30% margin · −38% Y/Y Tax & other: $3.0B · 13% of revenue TAX & OTHER $3.0B 13% of revenue R&D: $195.0M · 1% of revenue R&D $195.0M 1% of revenue Sales, admin & other: $4.4B · 19% of revenue SALES, ADMIN & OTHER $4.4B 19% of revenue
Gross profit $14.5B 62% margin · +1% Y/Y
Operating profit $9.9B 43% margin · −12% Y/Y
Net profit $6.9B 30% margin · −38% Y/Y
The full income statement, year by year

MO 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: -3.1%, above 12% of 32 peers (their median 2.2%) REVENUE GROWTH -3.1% · above 12% Gross margin: 63.3%, above 93% of 30 peers (their median 38.9%) GROSS MARGIN 63.3% · above 93% Operating margin: 47.0%, above 100% of 28 peers (their median 13.6%) OPERATING MARGIN 47.0% · above 100% Net margin: 34.5%, above 100% of 32 peers (their median 7.6%) NET MARGIN 34.5% · above 100% FCF margin: 38.6%, above 100% of 32 peers (their median 10.4%) FCF MARGIN 38.6% · above 100%
MO Peer median Below the median

What changed

6 new risk paragraphs and 2 accounting facts worth reading about. 10-K filed Feb 25, 2026 against Feb 26, 2025.

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.

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 +48.6% vs revenue -3.1% (+51.7 pts)
  • 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
  • Cash from operations $9.3B vs net income $6.9B (FY ending Dec 31, 2025)
8 more checks with nothing to note
  • 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

In their words

6 paragraphs in Risk Factors that were not in the 10-K filed Feb 26, 2025. Quoted as filed.

All 6 new paragraphs
  1. Item 1A · new paragraph · not in the 10-K filed Feb 26, 2025 10-K, ITEM 1A
    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…
  2. Item 1A · new paragraph · not in the 10-K filed Feb 26, 2025 10-K, ITEM 1A
    Lengthy and unpredictable regulatory review periods complicate efforts to strategize and plan with respect to commercialization of new products, and we cannot predict or influence the speed with which the FDA reviews pre-market tobacco applications (“PMTA”). Our operating companies may decide to commercialize products that have not…
  3. Item 1A · new paragraph · not in the 10-K filed Feb 26, 2025 10-K, ITEM 1A
    PM USA imports cigarettes manufactured outside the United States for sale domestically, and PM USA has entered into strategic commercial relationships to manufacture cigarettes in the United States for export to third parties for sale in international markets. If PM USA is unable to maintain, expand upon or enter into new relationships…
  4. Item 1A · new paragraph · not in the 10-K filed Feb 26, 2025 10-K, ITEM 1A
    In 2025, we recorded impairments of the values of the goodwill and other intangible assets within our e-vapor reporting unit as a result of the ITC exclusion order and cease-and-desist orders prohibiting the importation and sale of NJOY ACE into the United States and our expectation that effective enforcement against illicit flavored…

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$25.1B$24.5B$24.0B$23.3B
Net income$5.8B$8.1B$11.3B$6.9B
Operating cash flow$8.3B$9.3B$8.8B$9.3B
Free cash flow$8.1B$9.1B$8.6B$9.1B

Revenue, FY2016 to FY2025

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

$23.3B ▼ 3.1% in FY2025

FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Every number, year by year

Recent filings

2 filings in the last 30 days · SEC EDGAR

All filings

About the company

Altria, Richmond, VA · from the 10-K filed Feb 25, 2026

We have a leading portfolio of tobacco products for U.S. tobacco consumers age 21+. We are Moving Beyond SmokingTM, by responsibly transitioning adult smokers to a smoke-free future, competing vigorously for existing smoke-free adult nicotine consumers and exploring new growth opportunities - beyond the United States and beyond nicotine (“Vision”). Our wholly owned subsidiaries include Philip Morris USA Inc. (“PM USA”), which is engaged in the manufacture and sale of cigarettes; John Middleton Co.

Headquarters
Richmond, VA
Country
United States
Reports in
USD
Listed on
NYSE
Fiscal year ends
December 31
Last results
Oct 29, 2026
Incorporated in
VA

Employees, at the top of the page: "At December 31, 2025, we employed approximately 5,900 people" (10-K). Address and exchange: SEC's company file.

Email alerts

Sources

The 10-K filed Feb 25, 2026 (open at SEC), compared with the 10-K filed Feb 26, 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/MO/export.csv") into a cell.