Philip Morris International (PM) FCF Margin (2009 - 2026)
Philip Morris International (PM) recorded FCF Margin of 43.45% in Q3 2026, up 5.67 percentage points from 37.78% a year earlier but down 2.22 percentage points from the prior quarter.
Powered by 
Analysis
Philip Morris International (PM) FCF Margin (2009 - 2026) Analysis & Trends
On a TTM basis, Philip Morris International's FCF Margin came in at 31.52% as of Sep 30, 2026, up 6.20 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).
- Quarterly FCF Margin has ranged from -15.39% in Q1 2023 to 52.68% in Q4 2023 over the past five years.
- On a year-over-year basis, FCF Margin has increased for five consecutive quarters, with an average year-over-year change of -0.34 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 21.18 percentage points in Q3 2023 at the low end.
- Per Business Quant, the preceding three quarters came in at 45.68% (Q2 2026), -7.41% (Q1 2026) and 41.16% (Q4 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | FCF Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Philip Morris International | 303.52 Bn | 280.52 Bn | 7.85 Bn | 43.45% |
| 2 | British American Tobacco p.l.c | 132.82 Bn | 111.64 Bn | - | - |
| 3 | Altria | 126.54 Bn | 113.47 Bn | 3.94 Bn | 48.91% |
| 4 | Curaleaf Holdings | 2.37 Bn | 2.00 Bn | 170.48 Mn | 1.40% |
| 5 | Trulieve Cannabis | 2.11 Bn | 729.12 Mn | 162.29 Mn | 11.86% |
| 6 | RLX Technology | 1.96 Bn | -1.30 Bn | - | - |
| 7 | Green Thumb Industries | 1.45 Bn | 214.02 Mn | 146.79 Mn | 11.72% |
| 8 | Cronos | 1.30 Bn | -1.97 Bn | 28.45 Mn | 31.55% |
| 9 | Turning Point Brands | 1.27 Bn | 375.50 Mn | 93.70 Mn | 18.35% |
| 10 | Tilray Brands | 363.35 Mn | -604.15 Mn | 77.51 Mn | -10.71% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Sep 30, 2026 | 43.45% |
| 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 | 52.68% |
| Sep 30, 2023 | 13.88% |
| 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% |
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();