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 1 147,899 156,896 146,050 187,124 249,685 281,912 - -
Change - 6.08% -6.91% 28.12% 33.43% 12.91% - -
Enterprise Value (EV) 1 171,209 196,812 190,899 228,603 293,648 322,883 320,698 318,743
Change - 14.95% -3% 19.75% 28.45% 9.96% -0.68% -0.61%
P/E 16.3x 17.4x 18.7x 26.6x 22.1x 23x 20.8x 18.8x
PBR -14.6x -17.5x -13x -15.9x -25x -44x -68.5x -118x
PEG - -50.72x -1.4x -2.67x 0.4x 2.8x 1.9x 1.7x
Capitalization / Revenue 4.71x 4.94x 4.15x 4.94x 6.14x 6.5x 6.12x 5.74x
EV / Revenue 5.45x 6.2x 5.43x 6.04x 7.22x 7.44x 6.96x 6.49x
EV / EBITDA 11.8x 14.3x 13.5x 14.7x 16.9x 17x 15.6x 14.7x
EV / EBIT 12.7x 15.2x 14.3x 15.6x 17.9x 18.3x 16.8x 15.7x
EV / FCF - - - - - - - -
FCF Yield - - - - - - - -
Dividend per Share 2 4.9 5.04 5.2 5.4 5.64 6.068 6.386 6.782
Rate of return 5.16% 4.98% 5.53% 4.49% 3.52% 3.35% 3.53% 3.75%
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% 77.2% 73.4% 70.3%
Net sales 1 31,405 31,762 35,174 37,878 40,648 43,390 46,077 49,083
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 94.08 120.35 160.40 180.88 180.88 180.88
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.($)
12.98x4.76x10x5.74% 127B
9.9x2.91x6.69x6.25% 27.38B
30.15x2.02x18.43x2.01% 6B
55.17x - - 0.4% 1.55B
11.73x - - - 1.26B
Average 23.98x 3.23x 11.71x 3.6% 32.61B
Weighted average by Cap. 13.49x 4.34x 9.75x 5.63%

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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