Common Stock Valuation Ratios (Price Multiples)
Quarterly Data
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).
Historical Valuation Ratios (Summary)
Altria Group Inc., historical price multiples (quarterly data)
Based on: 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31).
| Valuation 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. | Altria Group Inc. P/E ratio decreased from Q2 2023 to Q3 2023 but then slightly increased from Q3 2023 to Q4 2023. |
| 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. | Altria Group Inc. P/OP ratio decreased from Q2 2023 to Q3 2023 but then slightly increased from Q3 2023 to Q4 2023. |
| 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. | Altria Group Inc. P/S ratio decreased from Q2 2023 to Q3 2023 but then slightly increased from Q3 2023 to Q4 2023. |
Price to Earnings (P/E)
Altria Group Inc., historical P/E calculation (quarterly data)
| Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| No. shares of common stock outstanding1 | 1,763,461,775 | 1,768,646,674 | 1,774,609,985 | 1,785,039,536 | 1,785,563,827 | 1,792,172,618 | 1,800,823,383 | 1,810,557,271 | 1,817,257,322 | 1,836,988,822 | 1,844,077,897 | 1,850,637,974 | 1,858,689,654 | 1,858,419,165 | 1,858,397,202 | 1,858,368,058 | 1,858,366,804 | 1,868,126,510 | 1,868,095,889 | 1,870,919,863 | ||||||
| Selected Financial Data (US$) | ||||||||||||||||||||||||||
| Net earnings (losses) attributable to Altria (in millions) | 2,060) | 2,166) | 2,117) | 1,787) | 2,690) | 224) | 891) | 1,959) | 1,624) | (2,722) | 2,149) | 1,424) | 1,924) | (952) | 1,943) | 1,552) | (1,809) | (2,600) | 1,996) | 1,120) | ||||||
| Earnings per share (EPS)2 | 4.61 | 4.95 | 3.84 | 3.13 | 3.23 | 2.62 | 0.97 | 1.66 | 1.36 | 1.51 | 2.46 | 2.34 | 2.40 | 0.39 | -0.49 | -0.46 | -0.70 | 0.00 | 0.00 | 0.00 | ||||||
| Share price1, 3 | 40.90 | 39.26 | 45.18 | 47.19 | 46.54 | 45.42 | 44.00 | 55.20 | 51.48 | 44.58 | 48.60 | 46.60 | 43.60 | 36.08 | 41.58 | 39.25 | 42.49 | 44.79 | 48.50 | 51.41 | ||||||
| Valuation Ratio | ||||||||||||||||||||||||||
| P/E ratio4 | 8.87 | 7.93 | 11.76 | 15.06 | 14.42 | 17.33 | 45.23 | 33.20 | 37.80 | 29.51 | 19.72 | 19.88 | 18.14 | 91.35 | — | — | — | — | — | — | ||||||
| Benchmarks | ||||||||||||||||||||||||||
| P/E Ratio, Competitors5 | ||||||||||||||||||||||||||
| Coca-Cola Co. | 24.43 | 22.33 | 25.69 | 27.85 | 27.12 | 25.88 | 28.47 | 27.84 | 27.63 | 27.47 | 30.49 | 32.01 | 27.91 | 26.14 | 22.66 | 19.48 | 28.21 | — | — | — | ||||||
| Mondelēz International Inc. | 20.87 | 19.80 | 23.78 | 25.50 | 33.07 | 26.93 | 22.33 | 21.13 | 21.64 | 19.22 | 21.14 | 22.62 | 22.33 | 24.91 | 23.66 | 19.74 | 21.72 | — | — | — | ||||||
| PepsiCo Inc. | 25.40 | 27.27 | 32.68 | 39.71 | 26.71 | 24.02 | 25.33 | 23.57 | 30.58 | 25.66 | 25.76 | 26.23 | 26.15 | 27.64 | 27.27 | 26.13 | 27.83 | — | — | — | ||||||
Based on: 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31).
1 Data adjusted for splits and stock dividends.
2 Q4 2023 Calculation
EPS
= (Net earnings (losses) attributable to AltriaQ4 2023
+ Net earnings (losses) attributable to AltriaQ3 2023
+ Net earnings (losses) attributable to AltriaQ2 2023
+ Net earnings (losses) attributable to AltriaQ1 2023)
÷ No. shares of common stock outstanding
= (2,060,000,000 + 2,166,000,000 + 2,117,000,000 + 1,787,000,000)
÷ 1,763,461,775 = 4.61
3 Closing price as at the filing date of Altria Group Inc. Quarterly or Annual Report.
4 Q4 2023 Calculation
P/E ratio = Share price ÷ EPS
= 40.90 ÷ 4.61 = 8.87
5 Click competitor name to see calculations.
| Valuation 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. | Altria Group Inc. P/E ratio decreased from Q2 2023 to Q3 2023 but then slightly increased from Q3 2023 to Q4 2023. |
Price to Operating Profit (P/OP)
Altria Group Inc., historical P/OP calculation (quarterly data)
| Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| No. shares of common stock outstanding1 | 1,763,461,775 | 1,768,646,674 | 1,774,609,985 | 1,785,039,536 | 1,785,563,827 | 1,792,172,618 | 1,800,823,383 | 1,810,557,271 | 1,817,257,322 | 1,836,988,822 | 1,844,077,897 | 1,850,637,974 | 1,858,689,654 | 1,858,419,165 | 1,858,397,202 | 1,858,368,058 | 1,858,366,804 | 1,868,126,510 | 1,868,095,889 | 1,870,919,863 | ||||||
| Selected Financial Data (US$) | ||||||||||||||||||||||||||
| Operating income (in millions) | 2,796) | 3,089) | 2,905) | 2,757) | 2,818) | 3,112) | 3,105) | 2,884) | 2,733) | 2,951) | 3,186) | 2,690) | 2,581) | 3,160) | 2,796) | 2,336) | 2,427) | 2,944) | 2,717) | 2,238) | ||||||
| Operating profit per share2 | 6.55 | 6.54 | 6.53 | 6.61 | 6.68 | 6.60 | 6.48 | 6.49 | 6.36 | 6.21 | 6.30 | 6.07 | 5.85 | 5.77 | 5.65 | 5.61 | 5.56 | 0.00 | 0.00 | 0.00 | ||||||
| Share price1, 3 | 40.90 | 39.26 | 45.18 | 47.19 | 46.54 | 45.42 | 44.00 | 55.20 | 51.48 | 44.58 | 48.60 | 46.60 | 43.60 | 36.08 | 41.58 | 39.25 | 42.49 | 44.79 | 48.50 | 51.41 | ||||||
| Valuation Ratio | ||||||||||||||||||||||||||
| P/OP ratio4 | 6.25 | 6.00 | 6.92 | 7.14 | 6.97 | 6.88 | 6.79 | 8.50 | 8.09 | 7.18 | 7.71 | 7.68 | 7.45 | 6.26 | 7.36 | 7.00 | 7.65 | — | — | — | ||||||
| Benchmarks | ||||||||||||||||||||||||||
| P/OP Ratio, Competitors5 | ||||||||||||||||||||||||||
| Coca-Cola Co. | 23.14 | 21.65 | 24.70 | 25.28 | 23.72 | 24.45 | 26.41 | 26.11 | 26.19 | 22.06 | 23.74 | 24.74 | 24.03 | 24.68 | 23.08 | 19.45 | 24.95 | — | — | — | ||||||
| Mondelēz International Inc. | 18.81 | 17.68 | 22.16 | 25.48 | 25.43 | 21.64 | 19.09 | 19.85 | 20.00 | 18.62 | 20.54 | 19.98 | 20.60 | 21.56 | 24.21 | 19.89 | 21.87 | — | — | — | ||||||
| PepsiCo Inc. | 19.23 | 20.33 | 24.69 | 29.45 | 20.67 | 17.60 | 17.90 | 16.97 | 20.87 | 18.28 | 18.75 | 18.78 | 18.47 | 19.55 | 19.07 | 18.53 | 19.78 | — | — | — | ||||||
Based on: 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31).
1 Data adjusted for splits and stock dividends.
2 Q4 2023 Calculation
Operating profit per share
= (Operating incomeQ4 2023
+ Operating incomeQ3 2023
+ Operating incomeQ2 2023
+ Operating incomeQ1 2023)
÷ No. shares of common stock outstanding
= (2,796,000,000 + 3,089,000,000 + 2,905,000,000 + 2,757,000,000)
÷ 1,763,461,775 = 6.55
3 Closing price as at the filing date of Altria Group Inc. Quarterly or Annual Report.
4 Q4 2023 Calculation
P/OP ratio = Share price ÷ Operating profit per share
= 40.90 ÷ 6.55 = 6.25
5 Click competitor name to see calculations.
| Valuation 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. | Altria Group Inc. P/OP ratio decreased from Q2 2023 to Q3 2023 but then slightly increased from Q3 2023 to Q4 2023. |
Price to Sales (P/S)
Altria Group Inc., historical P/S calculation (quarterly data)
| Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| No. shares of common stock outstanding1 | 1,763,461,775 | 1,768,646,674 | 1,774,609,985 | 1,785,039,536 | 1,785,563,827 | 1,792,172,618 | 1,800,823,383 | 1,810,557,271 | 1,817,257,322 | 1,836,988,822 | 1,844,077,897 | 1,850,637,974 | 1,858,689,654 | 1,858,419,165 | 1,858,397,202 | 1,858,368,058 | 1,858,366,804 | 1,868,126,510 | 1,868,095,889 | 1,870,919,863 | ||||||
| Selected Financial Data (US$) | ||||||||||||||||||||||||||
| Net revenues (in millions) | 5,975) | 6,281) | 6,508) | 5,719) | 6,111) | 6,550) | 6,543) | 5,892) | 6,255) | 6,786) | 6,936) | 6,036) | 6,304) | 7,123) | 6,367) | 6,359) | 6,007) | 6,856) | 6,619) | 5,628) | ||||||
| Sales per share2 | 13.88 | 13.92 | 14.02 | 13.96 | 14.05 | 14.08 | 14.15 | 14.29 | 14.31 | 14.19 | 14.32 | 13.96 | 14.07 | 13.91 | 13.77 | 13.91 | 13.51 | 0.00 | 0.00 | 0.00 | ||||||
| Share price1, 3 | 40.90 | 39.26 | 45.18 | 47.19 | 46.54 | 45.42 | 44.00 | 55.20 | 51.48 | 44.58 | 48.60 | 46.60 | 43.60 | 36.08 | 41.58 | 39.25 | 42.49 | 44.79 | 48.50 | 51.41 | ||||||
| Valuation Ratio | ||||||||||||||||||||||||||
| P/S ratio4 | 2.95 | 2.82 | 3.22 | 3.38 | 3.31 | 3.23 | 3.11 | 3.86 | 3.60 | 3.14 | 3.39 | 3.34 | 3.10 | 2.59 | 3.02 | 2.82 | 3.14 | — | — | — | ||||||
| Benchmarks | ||||||||||||||||||||||||||
| P/S Ratio, Competitors5 | ||||||||||||||||||||||||||
| Coca-Cola Co. | 5.72 | 5.34 | 6.12 | 6.32 | 6.02 | 6.07 | 6.59 | 7.15 | 6.99 | 6.40 | 6.76 | 6.91 | 6.55 | 6.51 | 6.07 | 5.25 | 6.75 | — | — | — | ||||||
| Mondelēz International Inc. | 2.87 | 2.57 | 2.88 | 3.06 | 2.85 | 2.77 | 2.89 | 3.03 | 3.24 | 3.02 | 3.27 | 3.15 | 2.99 | 2.97 | 3.13 | 2.80 | 3.25 | — | — | — | ||||||
| PepsiCo Inc. | 2.52 | 2.47 | 2.86 | 2.97 | 2.75 | 2.79 | 2.86 | 2.96 | 2.93 | 2.72 | 2.83 | 2.76 | 2.65 | 2.84 | 2.76 | 2.78 | 3.03 | — | — | — | ||||||
Based on: 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31).
1 Data adjusted for splits and stock dividends.
2 Q4 2023 Calculation
Sales per share
= (Net revenuesQ4 2023
+ Net revenuesQ3 2023
+ Net revenuesQ2 2023
+ Net revenuesQ1 2023)
÷ No. shares of common stock outstanding
= (5,975,000,000 + 6,281,000,000 + 6,508,000,000 + 5,719,000,000)
÷ 1,763,461,775 = 13.88
3 Closing price as at the filing date of Altria Group Inc. Quarterly or Annual Report.
4 Q4 2023 Calculation
P/S ratio = Share price ÷ Sales per share
= 40.90 ÷ 13.88 = 2.95
5 Click competitor name to see calculations.
| Valuation 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. | Altria Group Inc. P/S ratio decreased from Q2 2023 to Q3 2023 but then slightly increased from Q3 2023 to Q4 2023. |
Price to Book Value (P/BV)
Altria Group Inc., historical P/BV calculation (quarterly data)
| Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| No. shares of common stock outstanding1 | 1,763,461,775 | 1,768,646,674 | 1,774,609,985 | 1,785,039,536 | 1,785,563,827 | 1,792,172,618 | 1,800,823,383 | 1,810,557,271 | 1,817,257,322 | 1,836,988,822 | 1,844,077,897 | 1,850,637,974 | 1,858,689,654 | 1,858,419,165 | 1,858,397,202 | 1,858,368,058 | 1,858,366,804 | 1,868,126,510 | 1,868,095,889 | 1,870,919,863 | ||||||
| Selected Financial Data (US$) | ||||||||||||||||||||||||||
| Stockholders’ equity (deficit) attributable to Altria (in millions) | (3,540) | (3,407) | (3,827) | (3,876) | (3,973) | (4,232) | (2,403) | (1,760) | (1,606) | (1,267) | 3,257) | 2,913) | 2,839) | 3,139) | 5,688) | 6,543) | 6,222) | 10,545) | 14,464) | 14,079) | ||||||
| Book value per share (BVPS)2 | -2.01 | -1.93 | -2.16 | -2.17 | -2.23 | -2.36 | -1.33 | -0.97 | -0.88 | -0.69 | 1.77 | 1.57 | 1.53 | 1.69 | 3.06 | 3.52 | 3.35 | 5.64 | 7.74 | 7.53 | ||||||
| Share price1, 3 | 40.90 | 39.26 | 45.18 | 47.19 | 46.54 | 45.42 | 44.00 | 55.20 | 51.48 | 44.58 | 48.60 | 46.60 | 43.60 | 36.08 | 41.58 | 39.25 | 42.49 | 44.79 | 48.50 | 51.41 | ||||||
| Valuation Ratio | ||||||||||||||||||||||||||
| P/BV ratio4 | — | — | — | — | — | — | — | — | — | — | 27.52 | 29.61 | 28.54 | 21.36 | 13.59 | 11.15 | 12.69 | 7.93 | 6.26 | 6.83 | ||||||
| Benchmarks | ||||||||||||||||||||||||||
| P/BV Ratio, Competitors5 | ||||||||||||||||||||||||||
| Coca-Cola Co. | 10.09 | 9.14 | 10.38 | 10.90 | 10.73 | 11.26 | 11.85 | 11.55 | 11.74 | 10.91 | 11.07 | 11.35 | 11.20 | 11.70 | 11.91 | 10.75 | 13.26 | 12.50 | 12.48 | 11.51 | ||||||
| Mondelēz International Inc. | 3.65 | 3.19 | 3.44 | 3.56 | 3.34 | 3.17 | 3.14 | 3.15 | 3.29 | 3.09 | 3.31 | 3.16 | 2.88 | 2.89 | 3.12 | 2.84 | 3.08 | 2.79 | 2.96 | 2.88 | ||||||
| PepsiCo Inc. | 12.45 | 12.02 | 14.60 | 15.34 | 13.88 | 12.30 | 12.61 | 13.16 | 14.52 | 13.16 | 13.82 | 14.10 | 13.84 | 14.43 | 14.95 | 14.05 | 13.76 | 13.61 | 13.20 | 12.54 | ||||||
Based on: 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31).
1 Data adjusted for splits and stock dividends.
2 Q4 2023 Calculation
BVPS = Stockholders’ equity (deficit) attributable to Altria ÷ No. shares of common stock outstanding
= -3,540,000,000 ÷ 1,763,461,775 = -2.01
3 Closing price as at the filing date of Altria Group Inc. Quarterly or Annual Report.
4 Q4 2023 Calculation
P/BV ratio = Share price ÷ BVPS
= 40.90 ÷ -2.01 = —
5 Click competitor name to see calculations.