Philip Morris International (PM) FCF Margin (2009 - 2026)
Philip Morris International (PM) recorded FCF Margin of 45.68% in Q2 2026, up 15.54 percentage points from 30.14% a year earlier and up 53.09 percentage points from the prior quarter.
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Analysis
Philip Morris International (PM) FCF Margin (2009 - 2026) Analysis & Trends
On a TTM basis, Philip Morris International's FCF Margin came in at 29.90% as of Jun 30, 2026, up 6.89 percentage points year-over-year; for FY2025, it was 26.23%, down 2.21 percentage points from FY2024.
- Annual FCF Margin has a five-year change of +14.12 percentage points (FY2020 to FY2025).
- Across earlier years, FCF Margin came in at 28.44% in FY2024 (+6.03 pp), 22.41% in FY2023 (-8.21 pp), 30.62% in FY2022 (-5.10 pp) and 35.72% in FY2021 (+23.61 pp).
- The Q2 2026 figure is the highest quarterly FCF Margin since Q2 2018.
- On a year-over-year basis, FCF Margin has increased for four consecutive quarters, with an average year-over-year change of +0.97 percentage points over the last eight quarters.
- Peak year-over-year performance for FCF Margin in the last five years was a gain of 24.67 percentage points in Q2 2022, against a drop of 19.98 percentage points in Q1 2023 at the low end.
- Per Business Quant, the preceding three quarters came in at -7.41% (Q1 2026), 41.16% (Q4 2025) and 37.78% (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | FCF Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Philip Morris International | 302.31 Bn | 283.88 Bn | 7.66 Bn | 45.68% |
| 2 | British American Tobacco p.l.c | 126.84 Bn | 105.99 Bn | - | - |
| 3 | Altria | 114.73 Bn | 100.93 Bn | 3.82 Bn | 10.83% |
| 4 | Curaleaf Holdings | 2.84 Bn | 2.44 Bn | 169.91 Mn | -6.05% |
| 5 | RLX Technology | 2.65 Bn | -916.64 Mn | 52.74 Mn | -6.24% |
| 6 | Trulieve Cannabis | 2.39 Bn | 1.00 Bn | 162.29 Mn | 11.86% |
| 7 | Green Thumb Industries | 1.49 Bn | 344.56 Mn | 137.87 Mn | 2.87% |
| 8 | Cronos | 1.25 Bn | -1.97 Bn | 28.45 Mn | 31.55% |
| 9 | Turning Point Brands | 1.21 Bn | 336.94 Mn | 93.70 Mn | 18.35% |
| 10 | Verano Holdings | 877.15 Mn | 550.77 Mn | 99.70 Mn | 8.61% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 45.68% |
| Mar 31, 2026 | -7.41% |
| Dec 31, 2025 | 41.16% |
| Sep 30, 2025 | 37.78% |
| Jun 30, 2025 | 30.14% |
| Mar 31, 2025 | -8.11% |
| Dec 31, 2024 | 38.37% |
| Sep 30, 2024 | 29.90% |
| Jun 30, 2024 | 45.01% |
| Mar 31, 2024 | -2.00% |
| Dec 31, 2023 | 41.52% |
| Sep 30, 2023 | 24.93% |
| Jun 30, 2023 | 34.37% |
| Mar 31, 2023 | -15.39% |
| Dec 31, 2022 | 33.68% |
| Sep 30, 2022 | 35.06% |
| Jun 30, 2022 | 41.82% |
| Mar 31, 2022 | 4.60% |
| Sep 30, 2021 | 17.20% |
| Jun 30, 2021 | 17.15% |
API Access
Philip Morris International FCF Margin 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=fcf-margin&ticker=PM&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "fcf-margin", "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=fcf-margin&ticker=PM&period=max&api_key=YOUR_API_KEY");
const data = await res.json();