Philip Morris International Inc.

PM · NYSE · Consumer Staples · Tobacco

下次财报：2026年10月20日 · 开盘前

US$193.78+1.7%9月28日收盘

1M: +1.0%
6M: +19.5%
1Y: +23.2%
5Y: +140.4%

Makes and sells cigarettes and smoke-free nicotine products, including heated tobacco, nicotine pouches, and e-vapor products.

基于 Philip Morris International Inc. 自己向 SEC 提交的申报文件。数字如实呈报，每股历史已重述到今天的股数口径。这是对一门生意的描述——不是投资建议，也不是买卖任何证券的推荐。

完整财务报表 →

关于Philip Morris International Inc.

Philip Morris International sells cigarettes in about 170 markets and smoke-free products in 109 markets as of June 30, 2026. Its smoke-free products include heated tobacco products such as IQOS, oral nicotine products such as ZYN, and e-vapor products such as VEEV. It sells through distributors, wholesalers, retailers, e-commerce, and its own branded stores. The company also has a wellness business focused mainly on oral consumer products.

总部: Stamford, Connecticut, United States
成立于: 1987 (incorporated)
员工人数: 84,900 (December 31, 2025, high)
上市于: New York Stock Exchange
财年结束: December 31

怎么赚钱

International Combustibles57%
International Smoke-Free36%
U.S.7%

各项收入占比是对six months ended June 30, 2026的估算，并非来自已提交报告的数字。

竞争对手

卖什么5

Cigarettes
Combustible tobacco products sold under international brands such as Marlboro, Parliament, Chesterfield, L&M, and Philip Morris, as well as local brands.
IQOS heated tobacco products
A device heats a tobacco or other specially designed consumable to create an aerosol rather than burning it. Consumable brands include TEREA, HEETS, DELIA, and LEVIA.
ZYN and other oral nicotine products
Nicotine pouches are placed in the mouth; the company also sells traditional oral tobacco products such as General snus.

再显示 2 项

VEEV e-vapor products
Electronic devices heat liquid to make an inhalable aerosol; VEEV includes closed-pod products.
Aspeya wellness products
The wellness business develops and sells primarily oral consumer products, including medical and non-recreational cannabinoid products where permitted.

谁在买5

Distributors that supply retailers; the company also sells directly to retailers in some markets.
Wholesalers that buy products and supply local shops and other retailers.
Retailers and trade partners reached through the company's e-commerce and distribution systems.

再显示 2 项

Adult consumers who buy products through shops, e-commerce, or the company's branded retail stores.
In 2025, two individual regional distributors each accounted for at least 10% of consolidated net revenue (high confidence).

靠什么支撑，什么会击垮它

业务依赖什么

1Sales of tobacco and nicotine products depend on country-by-country laws governing product approval, taxation, marketing, packaging, flavors, and consumer access.
2The company depends on tobacco leaf and other agricultural inputs, including cloves for its Indonesian business, and buys materials from suppliers around the world.
3Heated tobacco and e-vapor products depend on electronic devices and components made by external electronics manufacturers and their suppliers.

与同行业相比处在什么位置

三项评分，每一项都是相对我们在Tobacco覆盖的 10 家公司的百分位。刻意分开而不揉成一个总分：便宜、上涨和经营得好是三件不同的事，一个数字会把它们是哪一件藏起来。

动量

100在同行业中满分 100

接近同行业顶部

截至一个月前的 12 个月19.9%

截至一个月前的 6 个月4.5%

最近一个月被刻意剔除：回报往往在 7 到 12 个月内延续，而最新的一个月往往反转。这描述的是股价已经走过的路，不说明它接下来会怎么走。

估值

33在同行业中满分 100

低于行业内多数公司

每单位价格对应的利润3.60%

每单位价格对应的现金4.21%

每单位价格对应的营收14.09%

每单位价格对应的资产—

整个企业对应的经营利润4.87%

这些是收益率，所以数值越高越便宜——亏损的公司会排在最后，而不是被剔除。便宜不等于好：高收益率往往意味着股价是有原因才跌下来的。由 5 项指标中的 4 项混合而成。

资本配置

5/5克制

1 项检验未披露

资本回报率30.0%

股东回报率2.86%

股本数量，3 年0.4%

净债务 / EBITDA2.65x

内部人，12 个月-US$28.8M

管理层怎么使用这笔钱——只按财报能回答的部分计分，绝不按占总数的比例计分。

六项资本配置检验

投入资金的回报投入资本回报 30.0%
债务与盈利之比净债务为经营利润的 2.65 倍
回馈给股东的现金每年 2.9% 用于回购和分红
三年间的股本数量三年间股本数量减少 0.4%
现金流对派付的覆盖自由现金流覆盖了派付的部分
内部人在公开市场的买入净卖出 US$28.8M——不计入扣分

这是对该公司在同行中所处位置的描述，不是投资建议。评分更新于 2026年9月29日。

4Products reach many markets through distributors and wholesalers; losing a distributor can temporarily disrupt sales in a market.

5Smoke-free sales depend on adult consumers choosing products such as IQOS, ZYN, and VEEV and continuing to use them.

可能出什么问题

1Regulators could prohibit or restrict smoke-free products, limit how the company communicates about them, or change product rules and taxes; this could impede sales of products such as IQOS, ZYN, and VEEV.
2Cigarette consumption is declining in many markets, while cigarette taxes and other tobacco-control measures may reduce demand or raise costs for the company's combustible business.
3The U.S. business depends on an evolving legal and regulatory framework, including product authorizations; changes or delays could affect the sale and marketing of products such as ZYN and IQOS.