Price to Earnings (P/E)
since 2008
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Philip Morris International Inc. pages available for free this week:
- Income Statement
- Balance Sheet: Liabilities and Stockholders’ Equity
- Analysis of Liquidity Ratios
- Enterprise Value to FCFF (EV/FCFF)
- Price to FCFE (P/FCFE)
- Present Value of Free Cash Flow to Equity (FCFE)
- Return on Equity (ROE) since 2008
- Total Asset Turnover since 2008
- Price to Operating Profit (P/OP) since 2008
- Analysis of Revenues
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Calculation
Philip Morris International Inc., P/E, long-term trends, calculation
| P/E | = | Share price1, 2, 3 | ÷ | Earnings per share1 (EPS) | EPS1 | = | Net earnings attributable to PMI1 (in millions) |
÷ | No. shares of common stock outstanding2 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Feb 6, 2026 | = | ÷ | = | ÷ | |||||||
| Feb 6, 2025 | = | ÷ | = | ÷ | |||||||
| Feb 8, 2024 | = | ÷ | = | ÷ | |||||||
| Feb 10, 2023 | = | ÷ | = | ÷ | |||||||
| Feb 11, 2022 | = | ÷ | = | ÷ | |||||||
| Feb 9, 2021 | = | ÷ | = | ÷ | |||||||
| Feb 7, 2020 | = | ÷ | = | ÷ | |||||||
| Feb 7, 2019 | = | ÷ | = | ÷ | |||||||
| Feb 13, 2018 | = | ÷ | = | ÷ | |||||||
| Feb 14, 2017 | = | ÷ | = | ÷ | |||||||
| Feb 17, 2016 | = | ÷ | = | ÷ | |||||||
| Feb 20, 2015 | = | ÷ | = | ÷ | |||||||
| Feb 21, 2014 | = | ÷ | = | ÷ | |||||||
| Feb 22, 2013 | = | ÷ | = | ÷ | |||||||
| Feb 24, 2012 | = | ÷ | = | ÷ | |||||||
| Feb 25, 2011 | = | ÷ | = | ÷ | |||||||
| Feb 26, 2010 | = | ÷ | = | ÷ | |||||||
| Feb 26, 2009 | = | ÷ | = | ÷ |
Based on: 10-K (reporting date: 2025-12-31), 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31).
1 US$
2 Data adjusted for splits and stock dividends.
3 Closing price as at the filing date of Philip Morris International Inc. Annual Report.
The price-to-earnings (P/E) ratio exhibited a generally increasing trend from 2009 through 2017, followed by fluctuations and a subsequent rise towards the end of the observed period. Initial values were relatively low, increasing steadily before stabilizing and then increasing more rapidly in later years.
- Initial Growth (2009-2017)
- From February 2009 to February 2017, the P/E ratio increased from 9.95 to 22.84. This represents a more than doubling of the ratio over this eight-year period. The growth was not linear, with periods of slower and faster increases. The most significant increases occurred between 2015 and 2017.
- Volatility and Subsequent Increase (2018-2026)
- Following 2017, the P/E ratio experienced a notable decrease in 2018, falling to 15.08. It then recovered somewhat, fluctuating between approximately 16.55 and 18.94 for the next three years. A more substantial increase began in 2022, culminating in a ratio of 32.02 in February 2025, before decreasing slightly to 25.08 in February 2026. This late-period increase suggests a shift in investor sentiment or expectations regarding future earnings.
- Relationship to Share Price and EPS
- The P/E ratio’s movements correlate with changes in both share price and earnings per share (EPS). While EPS generally increased from 2009 to 2021, the P/E ratio’s growth exceeded that of EPS, indicating that investors were willing to pay a higher premium for each dollar of earnings over time. The decrease in the P/E ratio in 2018 coincided with a decrease in share price and EPS. The recent increase in the P/E ratio, despite a relatively stable EPS, suggests that the share price has increased at a faster rate than earnings.
Overall, the observed P/E ratio demonstrates a dynamic pattern, influenced by both company performance and broader market conditions. The increasing trend, particularly in the later years, warrants further investigation to understand the underlying drivers of investor valuation.
Comparison to Competitors
Philip Morris International Inc., P/E, long-term trends, comparison to competitors
| Philip Morris International Inc. | Coca-Cola Co. | Mondelēz International Inc. | PepsiCo Inc. | |
|---|---|---|---|---|
| Feb 6, 2026 | ||||
| Feb 6, 2025 | ||||
| Feb 8, 2024 | ||||
| Feb 10, 2023 | ||||
| Feb 11, 2022 | ||||
| Feb 9, 2021 | ||||
| Feb 7, 2020 | ||||
| Feb 7, 2019 | ||||
| Feb 13, 2018 | ||||
| Feb 14, 2017 | ||||
| Feb 17, 2016 | ||||
| Feb 20, 2015 | ||||
| Feb 21, 2014 | ||||
| Feb 22, 2013 | ||||
| Feb 24, 2012 | ||||
| Feb 25, 2011 | ||||
| Feb 26, 2010 | ||||
| Feb 26, 2009 |
Based on: 10-K (reporting date: 2025-12-31), 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31).
Comparison to Sector (Food, Beverage & Tobacco)
Philip Morris International Inc., P/E, long-term trends, comparison to sector (food, beverage & tobacco)
| Philip Morris International Inc. | Food, Beverage & Tobacco | |
|---|---|---|
| Feb 6, 2026 | ||
| Feb 6, 2025 | ||
| Feb 8, 2024 | ||
| Feb 10, 2023 | ||
| Feb 11, 2022 | ||
| Feb 9, 2021 | ||
| Feb 7, 2020 | ||
| Feb 7, 2019 | ||
| Feb 13, 2018 | ||
| Feb 14, 2017 | ||
| Feb 17, 2016 | ||
| Feb 20, 2015 | ||
| Feb 21, 2014 | ||
| Feb 22, 2013 | ||
| Feb 24, 2012 | ||
| Feb 25, 2011 | ||
| Feb 26, 2010 | ||
| Feb 26, 2009 |
Based on: 10-K (reporting date: 2025-12-31), 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31).
Comparison to Industry (Consumer Staples)
Philip Morris International Inc., P/E, long-term trends, comparison to industry (consumer staples)
| Philip Morris International Inc. | Consumer Staples | |
|---|---|---|
| Feb 6, 2026 | ||
| Feb 6, 2025 | ||
| Feb 8, 2024 | ||
| Feb 10, 2023 | ||
| Feb 11, 2022 | ||
| Feb 9, 2021 | ||
| Feb 7, 2020 | ||
| Feb 7, 2019 | ||
| Feb 13, 2018 | ||
| Feb 14, 2017 | ||
| Feb 17, 2016 | ||
| Feb 20, 2015 | ||
| Feb 21, 2014 | ||
| Feb 22, 2013 | ||
| Feb 24, 2012 | ||
| Feb 25, 2011 | ||
| Feb 26, 2010 | ||
| Feb 26, 2009 |
Based on: 10-K (reporting date: 2025-12-31), 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31).