Philip Morris International (PM) Gross Margin (2009 - 2026)
Philip Morris International's Gross Margin came in at 68.43% for Q2 2026, up 0.72 percentage points from 67.71% a year earlier and up 0.38 percentage points from the prior quarter.
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Analysis
Philip Morris International (PM) Gross Margin (2009 - 2026) Analysis & Trends
Over the trailing twelve months to Jun 30, 2026, Philip Morris International reported Gross Margin of 67.51%, up 1.04 percentage points year-over-year; for FY2025, it was 67.12%, up 2.31 percentage points from FY2024.
- Gross Margin carries a five-year change of +41.97 percentage points (FY2020 to FY2025).
- Going back by year, Gross Margin was 64.81% in FY2024 (+1.47 pp), 63.35% in FY2023 (-0.76 pp), 64.10% in FY2022 (-3.96 pp) and 68.06% in FY2021 (+42.91 pp).
- The Q2 2026 figure represents the highest quarterly Gross Margin in data going back to Q1 2009.
- Year-over-year, Gross Margin has increased for 12 consecutive quarters, with an average year-over-year change of +1.82 percentage points over the last eight quarters.
- The fastest year-over-year change in Gross Margin over five years came in Q2 2022 (a gain of 40.53 percentage points), and the weakest in Q2 2023 (a drop of 2.19 percentage points).
- Business Quant data shows PM's Gross Margin at 68.06% (Q1 2026), 65.64% (Q4 2025) and 67.85% (Q3 2025) in the three quarters before Q2 2026.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Gross Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Philip Morris International | 297.66 Bn | 279.23 Bn | 7.66 Bn | 68.43% |
| 2 | British American Tobacco p.l.c | 125.80 Bn | 104.94 Bn | - | - |
| 3 | Altria | 112.42 Bn | 98.63 Bn | 3.82 Bn | 62.51% |
| 4 | Curaleaf Holdings | 2.73 Bn | 2.33 Bn | 169.91 Mn | 49.96% |
| 5 | RLX Technology | 2.65 Bn | -916.64 Mn | 52.74 Mn | 35.41% |
| 6 | Trulieve Cannabis | 2.10 Bn | 712.57 Mn | 162.29 Mn | 59.90% |
| 7 | Green Thumb Industries | 1.33 Bn | 184.54 Mn | 137.87 Mn | 44.96% |
| 8 | Cronos | 1.22 Bn | -2.00 Bn | 28.45 Mn | 40.30% |
| 9 | Turning Point Brands | 1.18 Bn | 308.67 Mn | 93.70 Mn | 65.55% |
| 10 | Verano Holdings | 808.33 Mn | 481.94 Mn | 99.70 Mn | 45.75% |
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% |
| Sep 30, 2021 | 25.56% |
| Jun 30, 2021 | 25.66% |
API Access
Philip Morris International Gross 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=gross-margin&ticker=PM&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "gross-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=gross-margin&ticker=PM&period=max&api_key=YOUR_API_KEY");
const data = await res.json();