Philip Morris International (PM) Return on Capital Employed [ROCE] (2009 - 2026)
Philip Morris International (PM) recorded Return on Capital Employed [ROCE] of 39.38% in Q3 2026, up 3.40 percentage points from 35.99% a year earlier and up 1.19 percentage points from the prior quarter.
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Analysis
Philip Morris International (PM) Return on Capital Employed [ROCE] (2009 - 2026) Analysis & Trends
For FY2025, Philip Morris International reported Return on Capital Employed [ROCE] of 37.18%, up 4.19 percentage points from FY2024.
- Annual Return on Capital Employed [ROCE] has a five-year change of -10.98 percentage points (FY2020 to FY2025).
- Across earlier years, Return on Capital Employed [ROCE] came in at 32.99% in FY2024 (+1.85 pp), 31.14% in FY2023 (-19.57 pp), 50.71% in FY2022 (-3.81 pp) and 54.52% in FY2021 (+6.37 pp).
- The Q3 2026 figure is the highest quarterly Return on Capital Employed [ROCE] since Q4 2022.
- On a year-over-year basis, Return on Capital Employed [ROCE] rose in seven of the last eight quarters, with an average year-over-year change of +3.75 percentage points.
- Peak year-over-year performance for Return on Capital Employed [ROCE] in the last five years was a gain of 15.34 percentage points in Q1 2022, against a drop of 32.77 percentage points in Q3 2023 at the low end.
- Per Business Quant, the preceding three quarters came in at 38.19% (Q2 2026), 35.59% (Q1 2026) and 34.88% (Q4 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | ROCE (Qtr) |
|---|---|---|---|---|---|
| 1 | Philip Morris International | 302.85 Bn | 281.83 Bn | 7.85 Bn | 39.38% |
| 2 | British American Tobacco p.l.c | 140.62 Bn | 117.27 Bn | - | - |
| 3 | Altria | 126.99 Bn | 113.97 Bn | 3.94 Bn | 43.13% |
| 4 | RLX Technology | 2.37 Bn | -1.38 Bn | 52.74 Mn | 3.59% |
| 5 | Curaleaf Holdings | 2.36 Bn | 1.98 Bn | 170.48 Mn | 0.43% |
| 6 | Verano Holdings | 2.05 Bn | 1.71 Bn | 100.04 Mn | -8.14% |
| 7 | Trulieve Cannabis | 1.89 Bn | 629.78 Mn | 148.02 Mn | -13.88% |
| 8 | Green Thumb Industries | 1.59 Bn | 362.48 Mn | 146.79 Mn | 4.07% |
| 9 | Cronos | 1.25 Bn | -1.89 Bn | 32.28 Mn | 0.63% |
| 10 | Turning Point Brands | 1.25 Bn | 333.93 Mn | 85.18 Mn | 7.67% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Sep 30, 2026 | 39.38% |
| Jun 30, 2026 | 38.19% |
| Mar 31, 2026 | 35.59% |
| Dec 31, 2025 | 34.88% |
| Sep 30, 2025 | 35.99% |
| Jun 30, 2025 | 36.66% |
| Mar 31, 2025 | 39.33% |
| Dec 31, 2024 | 32.35% |
| Sep 30, 2024 | 30.33% |
| Jun 30, 2024 | 29.56% |
| Mar 31, 2024 | 27.51% |
| Dec 31, 2023 | 30.63% |
| Sep 30, 2023 | 28.37% |
| Jun 30, 2023 | 28.90% |
| Mar 31, 2023 | 30.03% |
| Dec 31, 2022 | 51.32% |
| Sep 30, 2022 | 61.14% |
| Jun 30, 2022 | 61.33% |
| Mar 31, 2022 | 60.82% |
| Dec 31, 2021 | 58.49% |
API Access
Philip Morris International Return on Capital Employed [ROCE] 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=return-on-capital-employed-%5Broce%5D&ticker=PM&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "return-on-capital-employed-[roce]", "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=return-on-capital-employed-%5Broce%5D&ticker=PM&period=max&api_key=YOUR_API_KEY");
const data = await res.json();