Financials Philip Morris International, Inc. Deutsche Boerse AG

Stocks

4I1

US7181721090

Tobacco

Market Closed - Deutsche Boerse AG Other stock markets 15:55:00 2026-07-09 EDT			5-day change	1st Jan Change
158.66 ^EUR	-4.02%		+0.51%	+16.23%

07-07	India finds Adani's Mumbai airport shops sold nicotine pouches in breach of law	RE
07-02	UBS Adjusts Philip Morris International Price Target to $182 From $168, Maintains Neutral Rating	MT

Projected Income Statement: Philip Morris International, Inc.

Fiscal Period: December	2021	2022	2023	2024	2025	2026	2027	2028
Net sales ¹	31,405	31,762	35,174	37,878	40,648	43,415	46,154	49,165
Change	-	1.14%	10.74%	7.69%	7.31%	6.81%	6.31%	6.52%
EBITDA ¹	14,486	13,802	14,193	15,580	17,375	19,042	20,669	21,807
Change	-	-4.72%	2.83%	9.77%	11.52%	9.6%	8.54%	5.51%
EBIT ¹	13,488	12,908	13,337	14,688	16,428	17,707	19,157	20,403
Change	-	-4.3%	3.32%	10.13%	11.85%	7.79%	8.19%	6.5%
Interest Paid ¹	-628	-588	-1,061	-1,143	-966	-968.4	-954.4	-900
Earnings before Tax (EBT) ¹	12,232	11,634	10,450	12,199	13,880	15,797	17,347	18,952
Change	-	-4.89%	-10.18%	16.74%	13.78%	13.81%	9.81%	9.25%
Net income ¹	9,109	9,048	7,813	7,057	11,348	12,290	13,590	15,041
Change	-	-0.67%	-13.65%	-9.68%	60.8%	8.3%	10.57%	10.68%
Announcement Date	2/10/22	2/9/23	2/8/24	2/6/25	2/6/26	-	-	-

¹USD in Million

Estimates

Fiscal Period: December	2021 Q2	2021 Q3	2021 Q4	2022 Q1	2022 Q2	2022 Q3	2022 Q4	2023 Q1	2023 Q2	2023 Q3	2023 Q4	2024 Q1	2024 Q2	2024 Q3	2024 Q4	2025 Q1	2025 Q2	2025 Q3	2025 Q4	2026 Q1	2026 Q2	2026 Q3	2026 Q4	2027 Q1	2027 Q2	2027 Q3	2027 Q4	2028 Q1
Net sales ¹	7,594	8,122	8,104	7,746	7,832	8,032	8,152	8,019	8,967	9,141	9,047	8,793	9,468	9,911	9,706	9,301	10,140	10,845	10,362	10,146	10,605	11,568	11,118	10,776	11,263	12,265	11,837	11,250
Change	-	6.95%	-0.22%	-4.42%	1.11%	2.55%	1.49%	-1.63%	11.82%	1.94%	-1.03%	-2.81%	7.68%	4.68%	-2.07%	-4.17%	9.02%	6.95%	-4.45%	-2.08%	4.52%	9.08%	-3.88%	-3.08%	4.52%	8.9%	-3.49%	-4.96%
EBITDA ¹	3,693	3,784	3,272	3,589	3,470	3,542	3,201	3,215	3,745	3,950	3,283	3,592	3,875	4,380	3,733	4,012	4,475	4,911	3,977	4,432	3,992	5,583	4,808	5,421	-	-	-	-
Change	-	2.46%	-13.53%	9.69%	-3.32%	2.07%	-9.63%	0.44%	16.49%	5.47%	-16.89%	9.41%	7.88%	13.03%	-14.77%	7.47%	11.54%	9.74%	-19.02%	11.44%	-9.94%	39.88%	-13.88%	12.74%	-	-	-	-
EBIT ¹	3,454	3,549	2,993	3,340	3,224	3,330	2,976	3,019	3,532	3,734	3,052	3,360	3,656	4,153	3,519	3,790	4,246	4,670	3,722	4,168	4,430	5,097	4,186	4,581	4,862	5,531	4,610	-
Change	-	2.75%	-15.67%	11.59%	-3.47%	3.29%	-10.63%	1.44%	16.99%	5.72%	-18.26%	10.09%	8.81%	13.59%	-15.27%	7.7%	12.03%	9.99%	-20.3%	11.98%	6.3%	15.05%	-17.87%	9.44%	6.13%	13.75%	-16.64%	-
Charge d'intérêts ¹	-161	-154	-146	-154	-126	-138	-170	-230	-297	-261	-273	-299	-329	-189	-326	-241	-277	-230	-218	-237	-251.5	-239.8	-235	-251.5	-251.5	-251.5	-251.5	-
Earnings before Tax (EBT) ¹	2,941	3,274	2,768	3,140	2,925	2,823	2,746	2,479	2,263	3,101	2,607	2,731	3,101	3,450	2,917	3,291	3,424	4,019	3,146	3,661	3,971	4,547	3,643	3,787	4,086	4,847	3,870	4,174
Change	-	11.32%	-15.46%	13.44%	-6.85%	-3.49%	-2.73%	-9.72%	-8.71%	37.03%	-15.93%	4.76%	13.55%	11.25%	-15.45%	12.82%	4.04%	17.38%	-21.72%	16.37%	8.46%	14.5%	-19.88%	3.96%	7.88%	18.64%	-20.15%	7.84%
Net income ¹	2,172	2,426	2,093	2,331	2,233	2,087	2,397	1,995	1,568	2,054	2,196	2,148	2,406	3,082	-579	2,690	3,039	3,478	2,141	2,438	3,133	3,610	2,959	3,210	3,413	4,036	3,246	3,521
Change	-	11.69%	-13.73%	11.37%	-4.2%	-6.54%	14.85%	-16.77%	-21.4%	30.99%	6.91%	-2.19%	12.01%	28.1%	-118.79%	564.59%	12.97%	14.45%	-38.44%	13.87%	28.51%	15.2%	-18.03%	8.51%	6.3%	18.28%	-19.59%	8.49%
Announcement Date	7/20/21	10/19/21	2/10/22	4/21/22	7/21/22	10/20/22	2/9/23	4/20/23	7/20/23	10/19/23	2/8/24	4/23/24	7/23/24	10/22/24	2/6/25	4/23/25	7/22/25	10/21/25	2/6/26	4/22/26	-	-	-	-	-	-	-	-

¹USD in Million

Estimates

Forecast Balance Sheet: Philip Morris International, Inc.

Fiscal Period: December	2021	2022	2023	2024	2025	2026	2027	2028
Net Debt ¹	23,310	39,916	44,849	41,479	43,963	40,967	38,786	36,818
Change	-	71.24%	12.36%	-7.51%	5.99%	-6.81%	-5.32%	-5.07%
Announcement Date	2/10/22	2/9/23	2/8/24	2/6/25	2/6/26	-	-	-

¹USD in Million

Estimates

Cash Flow Forecast: Philip Morris International, Inc.

Fiscal Period: December	2021	2022	2023	2024	2026	2027	2028
CAPEX ¹	748	1,077	1,321	1,444	1,542	1,561	1,637
Change	-	43.98%	22.66%	9.31%	-	1.23%	4.85%
Free Cash Flow (FCF) ¹	11,219	9,726	7,883	10,773	-	-	-
Change	-	-13.31%	-18.95%	36.66%	-	-	-
Announcement Date	2/10/22	2/9/23	2/8/24	2/6/25	-	-	-

¹USD in Million

Estimates

Forecast Financial Ratios: Philip Morris International, Inc.

Fiscal Period: December	2021	2022	2023	2024	2025	2026	2027	2028
Profitability
EBITDA Margin (%)	46.13%	43.45%	40.35%	41.13%	42.75%	43.86%	44.78%	44.36%
EBIT Margin (%)	42.95%	40.64%	37.92%	38.78%	40.42%	40.79%	41.51%	41.5%
EBT Margin (%)	38.95%	36.63%	29.71%	32.21%	34.15%	36.39%	37.58%	38.55%
Net margin (%)	29%	28.49%	22.21%	18.63%	27.92%	28.31%	29.44%	30.59%
FCF margin (%)	35.72%	30.62%	22.41%	28.44%	-	-	-	-
FCF / Net Income (%)	123.16%	107.49%	100.9%	152.66%	-	-	-	-
Profitability
ROA	21.16%	18.03%	14.7%	16.09%	17.94%	17.82%	20.08%	21.72%
ROE	-	-	-	-	-	-	-	985.95%
Financial Health
Leverage (Debt/EBITDA)	1.61x	2.89x	3.16x	2.66x	2.53x	2.15x	1.88x	1.69x
Debt / Free cash flow	2.08x	4.1x	5.69x	3.85x	-	-	-	-
Capital Intensity
CAPEX / Current Assets (%)	2.38%	3.39%	3.76%	3.81%	-	3.55%	3.38%	3.33%
CAPEX / EBITDA (%)	5.16%	7.8%	9.31%	9.27%	-	8.1%	7.55%	7.51%
CAPEX / FCF (%)	6.67%	11.07%	16.76%	13.4%	-	-	-	-
Items per share
Cash flow per share ¹	7.676	6.961	5.927	7.852	7.54	9	9.891	11.34
Change	-	-9.32%	-14.86%	32.48%	-3.96%	19.36%	9.9%	14.68%
Dividend per Share ¹	4.9	5.04	5.2	5.4	-	6.048	6.404	6.799
Change	-	2.86%	3.17%	3.85%	-	-	5.9%	6.17%
Book Value Per Share ¹	-6.486	-5.771	-7.228	-7.551	-6.415	-4.113	-2.639	-1.527
Change	-	11.03%	-25.24%	-4.48%	15.05%	35.88%	35.83%	42.14%
EPS ¹	5.83	5.81	5.02	4.52	7.26	7.874	8.729	9.688
Change	-	-0.34%	-13.6%	-9.96%	60.62%	8.45%	10.86%	10.99%
Nbr of stocks (in thousands)	1,556,828	1,550,202	1,552,406	1,554,833	1,556,639	1,558,559	1,558,559	1,558,559
Announcement Date	2/10/22	2/9/23	2/8/24	2/6/25	2/6/26	-	-	-