Philip Morris International (PM) Gross Margin (2009 - 2026)
Philip Morris International's (PM) quarterly Gross Margin came in at 68.43% in Q2 2026, up 72.0% year-over-year from 39.79% in Q2 2025, and up 0.55% quarter-over-quarter from 68.06% in Q1 2026.
Analysis
Philip Morris International (PM) Gross Margin (2009 - 2026) Analysis & Trends
Philip Morris International has disclosed Gross Margin across 18 years of filings, most recently posting 68.43% for Q2 2026.
- In Q2 2026, Gross Margin rose 72.0% year-over-year to 68.43%; the TTM figure through Jun 2026 stood at 67.51% (up 104.0% YoY), while the FY2025 annual figure was 67.12%, up 231.0% from the prior year.
- Gross Margin came in at 68.43% for Q2 2026 at Philip Morris International, up from 68.06% in the prior quarter.
- In the past five years, Gross Margin ranged from a high of 68.43% in Q2 2026 to a low of 26.57% in Q1 2022.
- Average Gross Margin over 5 years is 63.01%, with a median of 65.05% recorded in 2023.
- Year-over-year, Gross Margin jumped 7827 bps in 2022 and plunged 219 bps in 2023.
- Over 5 years, Gross Margin stood at 60.61% in 2022, then climbed by 2 bps to 61.73% in 2023, then advanced by 5 bps to 64.73% in 2024, then advanced by 1 bps to 65.64% in 2025, then gained by 4 bps to 68.43% in 2026.
- Per Business Quant data, the three most recent Gross Margin figures were 68.43% in Q2 2026, 68.06% in Q1 2026, and 65.64% in Q4 2025.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Gross Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Philip Morris International | 284.46 Bn | 280.39 Bn | 7.66 Bn | 68.43% |
| 2 | British American Tobacco p.l.c | 126.98 Bn | 123.54 Bn | - | - |
| 3 | Altria | 115.00 Bn | 112.68 Bn | 3.82 Bn | 62.51% |
| 4 | RLX Technology | 2.79 Bn | 2.09 Bn | 52.74 Mn | 35.41% |
| 5 | Turning Point Brands | 1.51 Bn | 1.26 Bn | 93.70 Mn | 65.55% |
| 6 | VPR Brands | 7.34 Mn | 5.00 Mn | 161,075.00 | 22.89% |
| 7 | 22nd Century | 512,640.46 | -5.55 Mn | -293,000.00 | -10.23% |
| 8 | Cirtran | 197,816.68 | -168,530.32 | 619,024.00 | 52.83% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 68.43% |
| Mar 31, 2026 | 68.06% |
| Dec 31, 2025 | 65.64% |
| Sep 30, 2025 | 67.85% |
| Jun 30, 2025 | 67.71% |
| Mar 31, 2025 | 67.41% |
| Dec 31, 2024 | 64.73% |
| Sep 30, 2024 | 66.04% |
| Jun 30, 2024 | 64.67% |
| Mar 31, 2024 | 63.66% |
| Dec 31, 2023 | 61.73% |
| Sep 30, 2023 | 65.38% |
| Jun 30, 2023 | 64.00% |
| Mar 31, 2023 | 62.11% |
| Dec 31, 2022 | 60.61% |
| Sep 30, 2022 | 63.46% |
| Jun 30, 2022 | 66.19% |
| Mar 31, 2022 | 26.57% |
| Dec 31, 2021 | -17.66% |
| Sep 30, 2021 | 25.56% |