PMPhilip Morris International

Consumer staples · Tobacco · NYSE

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

RevenueFY2016–25 $40.6B+7.3% FY2024: $37.9B 10-K FY2025 · XBRL Net incomeFY2016–25 $11.3B+60.8% Highest in 10 years 10-K FY2025 · XBRL Free cash flowFY2016–25 $10.7B−1.0% FY2024: $10.8B 10-K FY2025 · XBRL Operating marginFY2016–25 36.6%+1.3 pts 14.5% in FY2016 10-K FY2025 · XBRL

What changed

10-K filed Feb 6, 2026 against Feb 6, 2025

Area	What changed	Source
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.

What's new, in their words

10-K filed Feb 6, 2026

Paragraphs in Risk Factors that were not in the 10-K filed 2025-02-06. Quoted as filed.

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…
10-K, Item 1A

All 12 new paragraphs →

Accounting checks

latest 10-K

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

!
Receivables growing faster than revenueReceivables +20.7% vs revenue +7.3% (+13.4 pts)
!
Inventory growing faster than revenueInventory +21.4% vs revenue +7.3% (+14.1 pts)
✓
Cash from operations $12.2B vs net income $11.3B (FY ending 2025-12-31)
✓
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

How each check works, with sources →

In the last 30 days

All filings →

Oct 23, 202610-Q Quarterly report (10-Q) period ended Sep 30, 2026
Oct 21, 20268-K Quarterly results 8-K item 2.02

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