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Philip Morris International Inc. (PM) | Common Stock Valuation Ratios (Price Multiples)

Valuation ratios measure the quantity of an asset or flaw (e.g., earnings) associated with ownership of a specified claim (e.g., a share of ownership of the enterprise).


Current Valuation Ratios

Philip Morris International Inc., current price multiples

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  Philip Morris International Inc. Consumer Goods
Selected Financial Data
Current share price (P) $ 95.68  
No. shares of common stock outstanding 1,647,788,932  
Growth rate (g) 301.50%  
 
Earnings per share (EPS) $ 5.34  
Next year expected EPS $ 21.44  
Operating profit per share $ 8.40  
Sales per share $ 46.97  
Book value per share (BVPS) $ -2.11  
Ratios (Price Multiples)
Price to earnings (P/E) 17.92 23.65
Price to next year expected earnings 4.46 21.73
Price-earnings-growth (PEG) 0.06 2.68
Price to operating profit (P/OP) 11.39 16.70
Price to sales (P/S) 2.04 1.87

If company price multiple is lower then the price multiple of benchmark then company stock is relatively undervalued.

Otherwise, if company price multiple is higher then the price multiple of benchmark then company stock is relatively overvalued.

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Historical Valuation Ratios (Summary)

Philip Morris International Inc., historical price multiples

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    Dec 31, 2012 Dec 31, 2011 Dec 31, 2010 Dec 31, 2009 Dec 31, 2008
Price to earnings (P/E) 17.49 16.64 15.41 14.53 9.95
Price to operating profit (P/OP) 11.12 10.72 9.99 9.18 6.69
Price to sales (P/S) 1.99 1.87 1.65 1.48 1.08
Price to book value (P/BV) – 624.24 31.91 16.12 9.14
Ratio Description The company
P/E ratio The P/E ratio tells analyst how much an investor in common stock pays per dollar of current earnings. Philip Morris International Inc.'s P/E ratio increased from 2010 to 2011 and from 2011 to 2012.
P/OP ratio Because P/E ratio is calculated using net income, the ratio can be sensitive to nonrecurring earnings and capital structure, analysts may use price to operating profit. Philip Morris International Inc.'s P/OP ratio increased from 2010 to 2011 and from 2011 to 2012.
P/S ratio An rationale for the P/S ratio is that sales, as the top line in an income statement, are generally less subject to distortion or manipulation than other fundamentals such as EPS or book value. Sales are also more stable than earnings and never negative. Philip Morris International Inc.'s P/S ratio increased from 2010 to 2011 and from 2011 to 2012.
P/BV ratio The P/BV ratio is interpreted as an indicator of market judgment about the relationship between a company's required rate of return and its actual rate of return. Philip Morris International Inc.'s P/BV ratio increased from 2010 to 2011 but then declined significantly from 2011 to 2012.

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Price to Earnings (P/E)

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    Dec 31, 2012 Dec 31, 2011 Dec 31, 2010 Dec 31, 2009 Dec 31, 2008
  No. shares of common stock outstanding1 1,647,788,932 1,721,873,303 1,797,131,522 1,880,963,027 2,003,949,893
  Selected Financial Data (USD $)
Net earnings attributable to PMI (in millions) 8,800  8,591  7,259  6,342  6,890 
Earnings per share (EPS) 5.34 4.99 4.04 3.37 3.44
  Share price1, 2 93.42 83.02 62.25 48.98 34.21
  P/E Ratio, Comparison to Industry
Philip Morris International Inc. 17.49 16.64 15.41 14.53 9.95
  Industry, Consumer Goods 20.02 16.93 16.27 19.71 12.45
1 Data adjusted for splits and stock dividends.
2 Close price on the filing date of Philip Morris International Inc.'s Annual Report.
Ratio Description The company
P/E ratio The P/E ratio tells analyst how much an investor in common stock pays per dollar of current earnings. Philip Morris International Inc.'s P/E ratio increased from 2010 to 2011 and from 2011 to 2012.

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Price to Operating Profit (P/OP)

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    Dec 31, 2012 Dec 31, 2011 Dec 31, 2010 Dec 31, 2009 Dec 31, 2008
  No. shares of common stock outstanding1 1,647,788,932 1,721,873,303 1,797,131,522 1,880,963,027 2,003,949,893
  Selected Financial Data (USD $)
Operating income (in millions) 13,846  13,332  11,200  10,040  10,248 
Operating profit per share 8.40 7.74 6.23 5.34 5.11
  Share price1, 2 93.42 83.02 62.25 48.98 34.21
  P/OP Ratio, Comparison to Industry
Philip Morris International Inc. 11.12 10.72 9.99 9.18 6.69
  Industry, Consumer Goods 14.14 12.28 12.94 13.95 8.96
1 Data adjusted for splits and stock dividends.
2 Close price on the filing date of Philip Morris International Inc.'s Annual Report.
Ratio Description The company
P/OP ratio Because P/E ratio is calculated using net income, the ratio can be sensitive to nonrecurring earnings and capital structure, analysts may use price to operating profit. Philip Morris International Inc.'s P/OP ratio increased from 2010 to 2011 and from 2011 to 2012.

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Price to Sales (P/S)

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    Dec 31, 2012 Dec 31, 2011 Dec 31, 2010 Dec 31, 2009 Dec 31, 2008
  No. shares of common stock outstanding1 1,647,788,932 1,721,873,303 1,797,131,522 1,880,963,027 2,003,949,893
  Selected Financial Data (USD $)
Net revenues (in millions) 77,393  76,346  67,713  62,080  63,640 
Sales per share 46.97 44.34 37.68 33.00 31.76
  Share price1, 2 93.42 83.02 62.25 48.98 34.21
  P/S Ratio, Comparison to Industry
Philip Morris International Inc. 1.99 1.87 1.65 1.48 1.08
  Industry, Consumer Goods 1.59 1.44 1.44 1.36 1.22
1 Data adjusted for splits and stock dividends.
2 Close price on the filing date of Philip Morris International Inc.'s Annual Report.
Ratio Description The company
P/S ratio An rationale for the P/S ratio is that sales, as the top line in an income statement, are generally less subject to distortion or manipulation than other fundamentals such as EPS or book value. Sales are also more stable than earnings and never negative. Philip Morris International Inc.'s P/S ratio increased from 2010 to 2011 and from 2011 to 2012.

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Price to Book Value (P/BV)

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    Dec 31, 2012 Dec 31, 2011 Dec 31, 2010 Dec 31, 2009 Dec 31, 2008
  No. shares of common stock outstanding1 1,647,788,932 1,721,873,303 1,797,131,522 1,880,963,027 2,003,949,893
  Selected Financial Data (USD $)
Total PMI stockholders' equity (deficit) (in millions) (3,476) 229  3,506  5,716  7,500 
Book value per share (BVPS) -2.11 0.13 1.95 3.04 3.74
  Share price1, 2 93.42 83.02 62.25 48.98 34.21
  P/BV Ratio, Comparison to Industry
Philip Morris International Inc. – 624.24 31.91 16.12 9.14
  Industry, Consumer Goods 3.49 3.14 3.04 3.07 2.92
1 Data adjusted for splits and stock dividends.
2 Close price on the filing date of Philip Morris International Inc.'s Annual Report.
Ratio Description The company
P/BV ratio The P/BV ratio is interpreted as an indicator of market judgment about the relationship between a company's required rate of return and its actual rate of return. Philip Morris International Inc.'s P/BV ratio increased from 2010 to 2011 but then declined significantly from 2011 to 2012.

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