Stock Analysis on Net
Stock Analysis on Net

Philip Morris International Inc. (NYSE:PM)

Common-Size Income Statement
Quarterly Data

Beginner level

Philip Morris International Inc., common-size consolidated income statement (quarterly data)

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3 months ended: Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019 Dec 31, 2018 Sep 30, 2018 Jun 30, 2018 Mar 31, 2018 Dec 31, 2017 Sep 30, 2017 Jun 30, 2017 Mar 31, 2017 Dec 31, 2016 Sep 30, 2016 Jun 30, 2016 Mar 31, 2016
Revenues including excise taxes 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00
Excise taxes on products -61.89 -63.58 -62.67 -60.81 -61.14 -62.50 -61.48 -61.87 -62.24 -63.29 -63.38 -62.57 -61.58 -63.79 -64.20 -63.37 -63.67 -64.98 -65.08 -63.77
Net revenues 38.11% 36.42% 37.33% 39.19% 38.86% 37.50% 38.52% 38.13% 37.76% 36.71% 36.62% 37.43% 38.42% 36.21% 35.80% 36.63% 36.33% 35.02% 34.92% 36.23%
Cost of sales -13.17 -11.82 -12.23 -13.16 -14.00 -12.78 -13.33 -13.92 -14.00 -12.81 -13.00 -14.19 -13.90 -13.25 -13.04 -13.15 -13.02 -12.20 -12.42 -12.49
Gross profit 24.94% 24.60% 25.10% 26.03% 24.86% 24.72% 25.19% 24.21% 23.76% 23.91% 23.61% 23.23% 24.52% 22.96% 22.77% 23.48% 23.31% 22.82% 22.50% 23.75%
Marketing, administration and research costs -9.98 -8.65 -9.66 -10.65 -12.16 -10.96 -9.16 -12.52 -10.06 -8.37 -8.85 -9.95 -9.04 -7.99 -8.57 -8.87 -9.60 -7.80 -7.95 -8.91
Amortization of intangibles -0.09 -0.09 -0.11 -0.10 -0.08 -0.07 -0.08 -0.11 -0.10 -0.10 -0.10 -0.12 -0.11 -0.10 -0.11 -0.13 -0.09 -0.10 -0.10 -0.11
Operating income 14.87% 15.86% 15.33% 15.28% 12.63% 13.68% 15.95% 11.58% 13.61% 15.44% 14.66% 13.17% 15.37% 14.87% 14.08% 14.47% 13.61% 14.93% 14.46% 14.73%
Interest expense, net -0.84 -0.80 -0.91 -0.71 -0.69 -0.65 -0.75 -0.86 -0.63 -0.71 -0.80 -1.23 -1.20 -1.08 -1.10 -1.32 -1.05 -1.10 -1.17 -1.47
Pension and other employee benefit costs -0.15 -0.11 -0.12 -0.13 -0.14 -0.10 -0.10 -0.12 -0.11 -0.03 -0.03 -0.03 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Earnings before income taxes 13.89% 14.95% 14.29% 14.45% 11.80% 12.93% 15.09% 10.60% 12.87% 14.70% 13.83% 11.90% 14.17% 13.79% 12.98% 13.15% 12.56% 13.83% 13.29% 13.26%
Provision for income taxes -3.14 -3.13 -2.96 -3.27 -3.14 -3.12 -3.06 -2.39 -2.77 -3.38 -3.05 -3.03 -10.49 -3.93 -3.57 -3.27 -3.43 -3.83 -3.76 -3.75
Equity investments and securities income (loss), net 0.10 0.10 0.17 -0.30 0.32 0.22 0.15 0.06 -0.01 0.14 0.09 0.07 0.01 0.06 0.12 0.13 0.11 0.18 0.15 0.05
Net earnings 10.85% 11.92% 11.50% 10.89% 8.98% 10.04% 12.19% 8.27% 10.09% 11.45% 10.88% 8.94% 3.69% 9.91% 9.53% 10.01% 9.25% 10.17% 9.67% 9.56%
Net earnings attributable to noncontrolling interests -0.73 -0.64 -0.57 -0.88 -0.84 -0.74 -0.59 -0.62 -0.47 -0.46 -0.46 -0.49 -0.47 -0.36 -0.32 -0.41 -0.33 -0.45 -0.28 -0.45
Net earnings attributable to PMI 10.12% 11.28% 10.93% 10.00% 8.14% 9.30% 11.60% 7.65% 9.62% 10.99% 10.42% 8.44% 3.22% 9.55% 9.22% 9.60% 8.92% 9.72% 9.39% 9.11%

Based on: 10-K (filing date: 2021-02-09), 10-Q (filing date: 2020-10-27), 10-Q (filing date: 2020-07-29), 10-Q (filing date: 2020-04-28), 10-K (filing date: 2020-02-07), 10-Q (filing date: 2019-10-24), 10-Q (filing date: 2019-07-25), 10-Q (filing date: 2019-04-25), 10-K (filing date: 2019-02-07), 10-Q (filing date: 2018-10-25), 10-Q (filing date: 2018-07-26), 10-Q (filing date: 2018-04-26), 10-K (filing date: 2018-02-13), 10-Q (filing date: 2017-10-26), 10-Q (filing date: 2017-07-27), 10-Q (filing date: 2017-04-27), 10-K (filing date: 2017-02-14), 10-Q (filing date: 2016-10-25), 10-Q (filing date: 2016-07-26), 10-Q (filing date: 2016-04-26).

Income statement item Description The company
Operating income The net result for the period of deducting operating expenses from operating revenues. Philip Morris International Inc.’s operating income as a percentage of revenues including excise taxes increased from Q2 2020 to Q3 2020 but then decreased significantly from Q3 2020 to Q4 2020.
Earnings before income taxes Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest. Philip Morris International Inc.’s earnings before income taxes as a percentage of revenues including excise taxes increased from Q2 2020 to Q3 2020 but then decreased significantly from Q3 2020 to Q4 2020.
Net earnings attributable to PMI The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Philip Morris International Inc.’s net earnings attributable to PMI as a percentage of revenues including excise taxes increased from Q2 2020 to Q3 2020 but then decreased significantly from Q3 2020 to Q4 2020.