Philip Morris International (PM) Net Margin (2009 - 2026)
Philip Morris International (PM) reported Net Margin of 28.96% for Q3 2026, down 3.11 percentage points from 32.07% a year earlier but up 3.80 percentage points from the prior quarter.
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Analysis
Philip Morris International (PM) Net Margin (2009 - 2026) Analysis & Trends
Over the twelve months ended Sep 30, 2026, Philip Morris International's Net Margin came in at 24.82%, up 3.25 percentage points year-over-year; for FY2025, it was 27.92%, up 9.29 percentage points from FY2024.
- Net Margin has a five-year change of +17.32 percentage points (FY2020 to FY2025).
- By year, Net Margin came in at 18.63% in FY2024 (-3.58 pp), 22.21% in FY2023 (-6.27 pp), 28.49% in FY2022 (-0.52 pp) and 29.00% in FY2021 (+18.41 pp).
- Five-year quarterly Net Margin spans a low of -5.97% in Q4 2024 and a high of 32.07% in Q3 2025.
- Year over year, Net Margin has now declined in each of the last three quarters, with an average year-over-year change of -0.80 percentage points over the last eight quarters.
- The high point for year-over-year Net Margin in five years was Q4 2025 (a gain of 26.63 percentage points); the low point was Q4 2024 (a drop of 30.24 percentage points).
- Per Business Quant data, the three quarters before Q3 2026 came in at 25.17% (Q2 2026), 24.03% (Q1 2026) and 20.66% (Q4 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Net Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Philip Morris International | 310.09 Bn | 289.08 Bn | 7.85 Bn | 28.96% |
| 2 | British American Tobacco p.l.c | 143.09 Bn | 119.75 Bn | - | - |
| 3 | Altria | 130.85 Bn | 117.83 Bn | 3.94 Bn | 41.06% |
| 4 | RLX Technology | 2.40 Bn | -1.35 Bn | 52.74 Mn | 4.33% |
| 5 | Curaleaf Holdings | 2.08 Bn | 1.70 Bn | 170.48 Mn | -9.28% |
| 6 | Trulieve Cannabis | 1.86 Bn | 595.66 Mn | 148.02 Mn | 0.38% |
| 7 | Verano Holdings | 1.83 Bn | 1.48 Bn | 100.04 Mn | -1.91% |
| 8 | Green Thumb Industries | 1.49 Bn | 262.73 Mn | 146.79 Mn | -1.49% |
| 9 | Cronos | 1.24 Bn | -1.90 Bn | 32.28 Mn | 16.45% |
| 10 | Turning Point Brands | 1.10 Bn | 187.99 Mn | 85.18 Mn | 2.60% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Sep 30, 2026 | 28.96% |
| Jun 30, 2026 | 25.17% |
| Mar 31, 2026 | 24.03% |
| Dec 31, 2025 | 20.66% |
| Sep 30, 2025 | 32.07% |
| Jun 30, 2025 | 29.97% |
| Mar 31, 2025 | 28.92% |
| Dec 31, 2024 | -5.97% |
| Sep 30, 2024 | 31.10% |
| Jun 30, 2024 | 25.41% |
| Mar 31, 2024 | 24.43% |
| Dec 31, 2023 | 24.27% |
| Sep 30, 2023 | 22.47% |
| Jun 30, 2023 | 17.49% |
| Mar 31, 2023 | 24.88% |
| Dec 31, 2022 | 29.40% |
| Sep 30, 2022 | 25.98% |
| Jun 30, 2022 | 28.51% |
| Mar 31, 2022 | 12.05% |
| Sep 30, 2021 | 11.22% |
API Access
Philip Morris International Net 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=net-margin&ticker=PM&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "net-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=net-margin&ticker=PM&period=max&api_key=YOUR_API_KEY");
const data = await res.json();