Company Valuation: Philip Morris International, Inc.

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 147,899 156,896 146,050 187,124 249,685 300,771 - -
Change - 6.08% -6.91% 28.12% 33.43% 20.46% - -
Enterprise Value (EV) 1 171,209 196,812 190,899 228,603 293,648 341,742 339,557 337,601
Change - 14.95% -3% 19.75% 28.45% 16.38% -0.64% -0.58%
P/E 16.3x 17.4x 18.7x 26.6x 22.1x 24.6x 22.2x 20x
PBR -14.6x -17.5x -13x -15.9x -25x -46.9x -73.1x -126x
PEG - -50.72x -1.4x -2.67x 0.4x 3x 2.1x 1.8x
Capitalization / Revenue 4.71x 4.94x 4.15x 4.94x 6.14x 6.94x 6.55x 6.17x
EV / Revenue 5.45x 6.2x 5.43x 6.04x 7.22x 7.88x 7.39x 6.93x
EV / EBITDA 11.8x 14.3x 13.5x 14.7x 16.9x 18x 16.5x 15.6x
EV / EBIT 12.7x 15.2x 14.3x 15.6x 17.9x 19.3x 17.8x 16.6x
EV / FCF - - - - - - - -
FCF Yield - - - - - - - -
Dividend per Share 2 4.9 5.04 5.2 5.4 5.64 5.992 6.386 6.782
Rate of return 5.16% 4.98% 5.53% 4.49% 3.52% 3.1% 3.31% 3.51%
EPS 2 5.83 5.81 5.02 4.52 7.26 7.856 8.697 9.645
Distribution rate 84% 86.7% 104% 119% 77.7% 76.3% 73.4% 70.3%
Net sales 1 31,405 31,762 35,174 37,878 40,648 43,353 45,928 48,737
EBITDA 1 14,486 13,802 14,193 15,580 17,375 19,004 20,606 21,710
EBIT 1 13,488 12,908 13,337 14,688 16,428 17,672 19,107 20,344
Net income 1 9,109 9,048 7,813 7,057 11,348 12,263 13,539 14,973
Net Debt 1 23,310 39,916 44,849 41,479 43,963 40,971 38,786 36,831
Reference price 2 95.00 101.21 94.08 120.35 160.40 192.98 192.98 192.98
Nbr of stocks (in thousands) 1,556,828 1,550,202 1,552,406 1,554,833 1,556,639 1,558,559 - -
Announcement Date 2/10/22 2/9/23 2/8/24 2/6/25 2/6/26 - - -
1USD in Million2USD
Estimates

P/E, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
13.43x4.88x10.26x5.54% 132B
10.4x3.02x6.93x5.95% 28.9B
32.37x2.2x20.09x1.87% 6.44B
57.52x - - 0.38% 1.62B
12.33x - - - 1.32B
Average 25.21x 3.37x 12.43x 3.44% 34.08B
Weighted average by Cap. 14.04x 4.45x 10.07x 5.42%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA

Year-on-year evolution of the Yield

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  5. Valuation Philip Morris International, Inc.