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 1 147,899 156,896 146,050 187,124 249,685 304,958 - -
Change - 6.08% -6.91% 28.12% 33.43% 22.14% - -
Enterprise Value (EV) 1 171,209 196,812 190,899 228,603 293,648 346,189 344,005 342,088
Change - 14.95% -3% 19.75% 28.45% 17.89% -0.63% -0.56%
P/E 16.3x 17.4x 18.7x 26.6x 22.1x 26.4x 22.7x 20.4x
PBR -14.6x -17.5x -13x -15.9x -25x -45.1x -65x -95.6x
PEG - -50.72x -1.4x -2.67x 0.4x 11.94x 1.4x 1.8x
Capitalization / Revenue 4.71x 4.94x 4.15x 4.94x 6.14x 7.02x 6.63x 6.26x
EV / Revenue 5.45x 6.2x 5.43x 6.04x 7.22x 7.97x 7.48x 7.02x
EV / EBITDA 11.8x 14.3x 13.5x 14.7x 16.9x 17.8x 16.6x 15.6x
EV / EBIT 12.7x 15.2x 14.3x 15.6x 17.9x 19.4x 17.9x 16.6x
EV / FCF - - - - - - - -
FCF Yield - - - - - - - -
Dividend per Share 2 4.9 5.04 5.2 5.4 5.64 6.028 6.392 6.757
Rate of return 5.16% 4.98% 5.53% 4.49% 3.52% 3.08% 3.27% 3.45%
EPS 2 5.83 5.81 5.02 4.52 7.26 7.42 8.613 9.598
Distribution rate 84% 86.7% 104% 119% 77.7% 81.2% 74.2% 70.4%
Net sales 1 31,405 31,762 35,174 37,878 40,648 43,438 45,979 48,725
EBITDA 1 14,486 13,802 14,193 15,580 17,375 19,467 20,740 21,946
EBIT 1 13,488 12,908 13,337 14,688 16,428 17,862 19,223 20,656
Net income 1 9,109 9,048 7,813 7,057 11,348 11,586 13,423 14,924
Net Debt 1 23,310 39,916 44,849 41,479 43,963 41,230 39,047 37,130
Reference price 2 95.00 101.21 94.08 120.35 160.40 195.66 195.66 195.66
Nbr of stocks (in thousands) 1,556,828 1,550,202 1,552,406 1,554,833 1,556,639 1,558,613 - -
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.($)
26.37x7.97x17.78x3.08% 305B
13.73x4.89x10.28x5.5% 131B
10.6x3.03x6.95x5.93% 28.65B
34.69x2.31x21.37x1.79% 6.72B
54.06x2.99x21.05x0.41% 1.52B
12.46x - - - 1.34B
Average 25.32x 4.24x 15.49x 3.34% 79.05B
Weighted average by Cap. 22.09x 6.72x 15.11x 3.9%

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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