Altria (MO) Return on Invested Capital [ROIC] (2009 - 2026)
Altria (MO) posted Return on Invested Capital [ROIC] of 38.90% for Q2 2026, down 2.62 percentage points from 41.52% a year earlier but up 0.25 percentage points from the prior quarter.
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Analysis
Altria (MO) Return on Invested Capital [ROIC] (2009 - 2026) Analysis & Trends
For FY2025, Altria's Return on Invested Capital [ROIC] came in at 32.59%, down 8.17 percentage points from FY2024.
- Annual Return on Invested Capital [ROIC] shows a five-year change of +11.53 percentage points (FY2020 to FY2025).
- In prior years, Altria's Return on Invested Capital [ROIC] was 40.77% in FY2024 (+3.01 pp), 37.76% in FY2023 (-0.04 pp), 37.80% in FY2022 (+12.37 pp) and 25.43% in FY2021 (+4.38 pp).
- Quarterly Return on Invested Capital [ROIC] has run from a low of 24.45% in Q2 2022 to a high of 41.86% in Q2 2023 over five years.
- On a year-over-year basis, Return on Invested Capital [ROIC] increased in four of the last eight quarters, with an average year-over-year change of -1.08 percentage points.
- The strongest year-over-year quarter for Return on Invested Capital [ROIC] in the past five years was Q3 2021, with a gain of 19.22 percentage points; the weakest was Q4 2025, with a drop of 9.33 percentage points.
- According to Business Quant data, Return on Invested Capital [ROIC] for the three prior quarters was 38.65% (Q1 2026), 32.36% (Q4 2025) and 41.58% (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | ROIC (Qtr) |
|---|---|---|---|---|---|
| 1 | Philip Morris International | 302.85 Bn | 281.83 Bn | 7.85 Bn | 32.08% |
| 2 | British American Tobacco p.l.c | 140.62 Bn | 117.27 Bn | - | - |
| 3 | Altria | 126.99 Bn | 113.97 Bn | 3.94 Bn | 38.67% |
| 4 | RLX Technology | 2.37 Bn | -1.38 Bn | 52.74 Mn | 3.63% |
| 5 | Curaleaf Holdings | 2.36 Bn | 1.98 Bn | 170.48 Mn | 0.73% |
| 6 | Verano Holdings | 2.05 Bn | 1.71 Bn | 100.04 Mn | -12.16% |
| 7 | Trulieve Cannabis | 1.89 Bn | 629.78 Mn | 148.02 Mn | -28.97% |
| 8 | Green Thumb Industries | 1.59 Bn | 362.48 Mn | 146.79 Mn | 1.79% |
| 9 | Cronos | 1.25 Bn | -1.89 Bn | 32.28 Mn | - |
| 10 | Turning Point Brands | 1.25 Bn | 333.93 Mn | 85.18 Mn | 7.15% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Sep 30, 2026 | 38.67% |
| Jun 30, 2026 | 38.86% |
| Mar 31, 2026 | 35.05% |
| Dec 31, 2025 | 29.41% |
| Sep 30, 2025 | 41.53% |
| Jun 30, 2025 | 41.52% |
| Mar 31, 2025 | 34.61% |
| Dec 31, 2024 | 38.93% |
| Sep 30, 2024 | 38.48% |
| Jun 30, 2024 | 39.72% |
| Mar 31, 2024 | 37.38% |
| Dec 31, 2023 | 35.64% |
| Sep 30, 2023 | 41.19% |
| Jun 30, 2023 | 41.86% |
| Mar 31, 2023 | 37.86% |
| Dec 31, 2022 | 38.02% |
| Sep 30, 2022 | 33.73% |
| Jun 30, 2022 | 24.45% |
| Mar 31, 2022 | 27.16% |
| Dec 31, 2021 | 25.85% |
API Access
Altria Return on Invested Capital [ROIC] API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=return-on-invested-capital-%5Broic%5D&ticker=MO&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "return-on-invested-capital-[roic]", "ticker": "MO", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=return-on-invested-capital-%5Broic%5D&ticker=MO&period=max&api_key=YOUR_API_KEY");
const data = await res.json();