Philip Morris International (PM) Operating Margin (2009 - 2026)
Philip Morris International (PM) posted Operating Margin of 40.48% for Q2 2026, up 5.49% sequentially from 38.37% in Q1 2026, and up 387.0% YoY from 8.31% in Q2 2025.
Philip Morris International (PM) Operating Margin (2009 - 2026) Analysis & Trends
Philip Morris International has reported Operating Margin for 18 years, with the latest figure at 40.48% in Q2 2026.
- Quarterly Operating Margin rose 387.0% year-over-year to 40.48% in Q2 2026, while the trailing twelve-month figure through Jun 2026 was 37.75% (up 147.0% YoY) and the FY2025 annual result came in at 36.64%, up 125.0% from the prior year.
- Operating Margin rose to 40.48% in Q2 2026 per PM's latest filing, from 38.37% in the prior quarter.
- Over five years, Operating Margin peaked at 40.48% in Q2 2026 and troughed at 17.05% in Q1 2022.
- A 5-year average of 34.85% and a median of 36.49% in 2025 frame the typical range for Operating Margin.
- The sharpest annual moves came in 2022 and 2023: Operating Margin surged 4570 bps in 2022, then slumped 1040 bps in 2023.
- Over 5 years, Operating Margin stood at 35.87% in 2022, then decreased by 11 bps to 31.93% in 2023, then advanced by 5 bps to 33.58% in 2024, then declined by 3 bps to 32.55% in 2025, then rose by 24 bps to 40.48% in 2026.
- According to Business Quant data, Operating Margin over the past three periods registered 40.48%, 38.37%, and 32.55% for Q2 2026, Q1 2026, and Q4 2025 respectively.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Operating Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Philip Morris International | 293.93 Bn | 287.93 Bn | 7.66 Bn | 40.48% |
| 2 | British American Tobacco p.l.c | 121.73 Bn | 118.03 Bn | - | - |
| 3 | Altria | 110.12 Bn | 107.75 Bn | 3.82 Bn | 51.32% |
| 4 | RLX Technology | 2.20 Bn | 1.46 Bn | 52.74 Mn | 12.90% |
| 5 | Turning Point Brands | 1.67 Bn | 1.40 Bn | 93.70 Mn | 11.69% |
| 6 | Universal | 1.13 Bn | 851.44 Mn | 83.09 Mn | 0.44% |
| 7 | Ispire Technology | 85.94 Mn | 66.71 Mn | 1.99 Mn | -50.75% |
| 8 | Rythm | 49.34 Mn | 7.43 Mn | 18.54 Mn | 8.41% |
| 9 | Greenlane Holdings | 11.38 Mn | -13.12 Mn | 32,000.00 | -4,004.88% |
| 10 | VPR Brands | 9.12 Mn | 6.78 Mn | 161,075.00 | -47.25% |
Historic Data
Download Data| Date | Value |
|---|---|
| Jun 30, 2026 | 40.48% |
| Mar 31, 2026 | 38.37% |
| Dec 31, 2025 | 32.55% |
| Sep 30, 2025 | 39.31% |
| Jun 30, 2025 | 36.61% |
| Mar 31, 2025 | 38.10% |
| Dec 31, 2024 | 33.58% |
| Sep 30, 2024 | 36.87% |
| Jun 30, 2024 | 36.38% |
| Mar 31, 2024 | 34.63% |
| Dec 31, 2023 | 31.93% |
| Sep 30, 2023 | 36.87% |
| Jun 30, 2023 | 28.62% |
| Mar 31, 2023 | 34.06% |
| Dec 31, 2022 | 35.87% |
| Sep 30, 2022 | 36.95% |
| Jun 30, 2022 | 39.02% |
| Mar 31, 2022 | 17.05% |
| Dec 31, 2021 | -9.83% |
| Sep 30, 2021 | 15.98% |