Philip Morris International (PM) Return on Invested Capital [ROIC] (2009 - 2026)
Philip Morris International (PM) recorded Return on Invested Capital [ROIC] of 30.08% in Q2 2026, up 3.27 percentage points from 26.82% a year earlier and up 0.63 percentage points from the prior quarter.
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Analysis
Philip Morris International (PM) Return on Invested Capital [ROIC] (2009 - 2026) Analysis & Trends
For FY2025, Philip Morris International reported Return on Invested Capital [ROIC] of 32.02%, up 4.87 percentage points from FY2024.
- Annual Return on Invested Capital [ROIC] has a five-year change of -11.12 percentage points (FY2020 to FY2025).
- Across earlier years, Return on Invested Capital [ROIC] came in at 27.16% in FY2024 (+3.33 pp), 23.83% in FY2023 (-11.21 pp), 35.04% in FY2022 (-15.04 pp) and 50.08% in FY2021 (+6.94 pp).
- Quarterly Return on Invested Capital [ROIC] has ranged from 22.35% in Q3 2023 to 50.62% in Q4 2021 over the past five years.
- On a year-over-year basis, Return on Invested Capital [ROIC] has increased for nine consecutive quarters, with an average year-over-year change of +3.50 percentage points over the last eight quarters.
- Peak year-over-year performance for Return on Invested Capital [ROIC] in the last five years was a gain of 5.38 percentage points in Q1 2025, against a drop of 25.56 percentage points in Q2 2023 at the low end.
- Per Business Quant, the preceding three quarters came in at 29.45% (Q1 2026), 30.65% (Q4 2025) and 28.78% (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | ROIC (Qtr) |
|---|---|---|---|---|---|
| 1 | Philip Morris International | 292.24 Bn | 273.81 Bn | 7.66 Bn | 30.08% |
| 2 | British American Tobacco p.l.c | 121.70 Bn | 100.85 Bn | - | - |
| 3 | Altria | 112.46 Bn | 98.66 Bn | 3.82 Bn | 38.90% |
| 4 | Curaleaf Holdings | 2.67 Bn | 2.27 Bn | 169.91 Mn | 1.26% |
| 5 | RLX Technology | 2.65 Bn | -916.64 Mn | 52.74 Mn | 3.64% |
| 6 | Trulieve Cannabis | 2.06 Bn | 674.09 Mn | 162.29 Mn | -26.37% |
| 7 | Green Thumb Industries | 1.30 Bn | 155.26 Mn | 137.87 Mn | 2.41% |
| 8 | Cronos | 1.19 Bn | -2.03 Bn | 28.45 Mn | - |
| 9 | Turning Point Brands | 1.12 Bn | 246.72 Mn | 93.70 Mn | 9.05% |
| 10 | Verano Holdings | 771.72 Mn | 445.33 Mn | 99.70 Mn | -12.28% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 30.08% |
| Mar 31, 2026 | 29.45% |
| Dec 31, 2025 | 30.65% |
| Sep 30, 2025 | 28.78% |
| Jun 30, 2025 | 26.82% |
| Mar 31, 2025 | 27.81% |
| Dec 31, 2024 | 26.09% |
| Sep 30, 2024 | 24.98% |
| Jun 30, 2024 | 23.36% |
| Mar 31, 2024 | 22.42% |
| Dec 31, 2023 | 22.86% |
| Sep 30, 2023 | 22.35% |
| Jun 30, 2023 | 22.49% |
| Mar 31, 2023 | 24.70% |
| Dec 31, 2022 | 34.91% |
| Sep 30, 2022 | 47.84% |
| Jun 30, 2022 | 48.06% |
| Mar 31, 2022 | 49.49% |
| Dec 31, 2021 | 50.62% |
| Sep 30, 2021 | 49.84% |
API Access
Philip Morris International Return on Invested Capital [ROIC] 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-invested-capital-%5Broic%5D&ticker=PM&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "return-on-invested-capital-[roic]", "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-invested-capital-%5Broic%5D&ticker=PM&period=max&api_key=YOUR_API_KEY");
const data = await res.json();