Philip Morris International (PM) Cost of Revenue (2009 - 2026)
Philip Morris International (PM) reported Cost of Revenue of $3.53 billion for Q2 2026, up 7.9% from $3.27 billion a year earlier and up 9.0% from the prior quarter.
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Analysis
Philip Morris International (PM) Cost of Revenue (2009 - 2026) Analysis & Trends
Over the twelve months ended Jun 30, 2026, Philip Morris International's Cost of Revenue came in at $13.82 billion, up 5.6% year-over-year; for FY2025, it came in at $13.37 billion, up 0.3% from FY2024.
- Cost of Revenue has increased for five consecutive years, with a five-year compound annual growth rate of 6.9% (FY2020 to FY2025).
- By year, Cost of Revenue came in at $13.33 billion in FY2024 (+3.4%), $12.89 billion in FY2023 (+13.1%), $11.4 billion in FY2022 (+13.7%) and $10.03 billion in FY2021 (+4.8%).
- Five-year quarterly Cost of Revenue spans a low of $2.6 billion in Q3 2021 and a high of $3.56 billion in Q4 2025.
- Year over year, Cost of Revenue has now increased in each of the last four quarters, with growth averaging 2.6% over the last eight quarters.
- The high point for year-over-year Cost of Revenue in five years was Q2 2023 (growth of 21.9%); the low point was Q1 2025 (a decline of 5.1%).
- Per Business Quant data, the three quarters before Q2 2026 came in at $3.24 billion (Q1 2026), $3.56 billion (Q4 2025) and $3.49 billion (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Cost of Rev (Qtr) |
|---|---|---|---|---|---|
| 1 | Philip Morris International | 292.24 Bn | 273.81 Bn | 7.66 Bn | 3.53 Bn |
| 2 | British American Tobacco p.l.c | 121.70 Bn | 100.85 Bn | - | - |
| 3 | Altria | 112.46 Bn | 98.66 Bn | 3.82 Bn | 1.54 Bn |
| 4 | Curaleaf Holdings | 2.67 Bn | 2.27 Bn | 169.91 Mn | 170.19 Mn |
| 5 | RLX Technology | 2.65 Bn | -916.64 Mn | 52.74 Mn | 82.40 Mn |
| 6 | Trulieve Cannabis | 2.06 Bn | 674.09 Mn | 162.29 Mn | 108.66 Mn |
| 7 | Green Thumb Industries | 1.30 Bn | 155.26 Mn | 137.87 Mn | 168.81 Mn |
| 8 | Cronos | 1.19 Bn | -2.03 Bn | 28.45 Mn | 42.15 Mn |
| 9 | Turning Point Brands | 1.12 Bn | 246.72 Mn | 93.70 Mn | 49.26 Mn |
| 10 | Verano Holdings | 771.72 Mn | 445.33 Mn | 99.70 Mn | 118.22 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 3.53 Bn |
| Mar 31, 2026 | 3.24 Bn |
| Dec 31, 2025 | 3.56 Bn |
| Sep 30, 2025 | 3.49 Bn |
| Jun 30, 2025 | 3.27 Bn |
| Mar 31, 2025 | 3.03 Bn |
| Dec 31, 2024 | 3.42 Bn |
| Sep 30, 2024 | 3.37 Bn |
| Jun 30, 2024 | 3.35 Bn |
| Mar 31, 2024 | 3.20 Bn |
| Dec 31, 2023 | 3.46 Bn |
| Sep 30, 2023 | 3.17 Bn |
| Jun 30, 2023 | 3.23 Bn |
| Mar 31, 2023 | 3.04 Bn |
| Dec 31, 2022 | 3.21 Bn |
| Sep 30, 2022 | 2.94 Bn |
| Jun 30, 2022 | 2.65 Bn |
| Mar 31, 2022 | 2.61 Bn |
| Dec 31, 2021 | 2.81 Bn |
| Sep 30, 2021 | 2.60 Bn |
API Access
Philip Morris International Cost of Revenue 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=cost-of-revenue&ticker=PM&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "cost-of-revenue", "ticker": "PM", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=cost-of-revenue&ticker=PM&period=max&api_key=YOUR_API_KEY");
const data = await res.json();