Philip Morris International Inc., net profit margin, long-term trends, calculation

	Net profit margin	=	100	×	Net earnings attributable to PMI¹	÷	Revenues including excise taxes¹
Dec 31, 2019	9.22%	=	100	×	7,185	÷	77,921
Dec 31, 2018	9.91%	=	100	×	7,911	÷	79,823
Dec 31, 2017	7.73%	=	100	×	6,035	÷	78,098
Dec 31, 2016	9.30%	=	100	×	6,967	÷	74,953
Dec 31, 2015	9.30%	=	100	×	6,873	÷	73,908
Dec 31, 2014	9.35%	=	100	×	7,493	÷	80,106
Dec 31, 2013	10.72%	=	100	×	8,576	÷	80,029
Dec 31, 2012	11.37%	=	100	×	8,800	÷	77,393
Dec 31, 2011	11.25%	=	100	×	8,591	÷	76,346
Dec 31, 2010	10.72%	=	100	×	7,259	÷	67,713
Dec 31, 2009	10.22%	=	100	×	6,342	÷	62,080
Dec 31, 2008	10.83%	=	100	×	6,890	÷	63,640

¹ US$ in millions

Philip Morris International Inc., net profit margin, long-term trends, comparison to competitors

	Philip Morris International Inc.	Altria Group Inc.
Dec 31, 2019	9.22%	-5.15%
Dec 31, 2018	9.91%	27.45%
Dec 31, 2017	7.73%	39.97%
Dec 31, 2016	9.30%	55.31%
Dec 31, 2015	9.30%	20.61%
Dec 31, 2014	9.35%	20.68%
Dec 31, 2013	10.72%	18.54%
Dec 31, 2012	11.37%	16.98%
Dec 31, 2011	11.25%	14.24%
Dec 31, 2010	10.72%	16.03%
Dec 31, 2009	10.22%	13.61%
Dec 31, 2008	10.83%	25.47%

Philip Morris International Inc., net profit margin, long-term trends, comparison to sector (tobacco)

	Philip Morris International Inc.	Tobacco
Dec 31, 2019	9.22%	5.72%
Dec 31, 2018	9.91%	14.14%
Dec 31, 2017	7.73%	15.68%
Dec 31, 2016	9.30%	21.06%
Dec 31, 2015	9.30%	12.19%
Dec 31, 2014	9.35%	12.01%
Dec 31, 2013	10.72%	12.55%
Dec 31, 2012	11.37%	12.72%
Dec 31, 2011	11.25%	11.96%
Dec 31, 2010	10.72%	12.12%
Dec 31, 2009	10.22%	11.15%
Dec 31, 2008	10.83%	14.24%

Philip Morris International Inc., net profit margin, long-term trends, comparison to industry (consumer goods)

	Philip Morris International Inc.	Consumer Goods
Dec 31, 2019	9.22%	9.28%
Dec 31, 2018	9.91%	9.80%
Dec 31, 2017	7.73%	10.70%
Dec 31, 2016	9.30%	12.37%
Dec 31, 2015	9.30%	10.26%
Dec 31, 2014	9.35%	9.26%
Dec 31, 2013	10.72%	10.20%
Dec 31, 2012	11.37%	10.08%
Dec 31, 2011	11.25%	10.41%
Dec 31, 2010	10.72%	11.49%
Dec 31, 2009	10.22%	13.00%
Dec 31, 2008	10.83%	12.53%

Philip Morris International Inc. (NYSE:PM)

Net Profit Margin
since 2008