Stock Analysis on Net

Philip Morris International Inc. (NYSE:PM)

$24.99

Price to Sales (P/S)
since 2008

Microsoft Excel

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Calculation

Philip Morris International Inc., P/S, long-term trends, calculation

Microsoft Excel

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-sales (P/S) 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 significantly before stabilizing and then increasing again in recent years.

Initial Growth (2009-2017)
From February 2009 to February 2017, the P/S ratio increased from 2.67 to 5.96. This represents a more than doubling of the ratio over this eight-year period. The growth was not linear, with periods of faster and slower increases. The most substantial gains occurred between 2015 and 2017.
Mid-Period Volatility (2017-2020)
Following the peak in 2017, the P/S ratio experienced volatility. It decreased to 4.03 in 2019 before recovering to 4.57 in 2020. This period suggests a potential shift in investor sentiment or market conditions impacting the valuation relative to sales.
Recent Increase (2020-2026)
From 2020 onwards, the P/S ratio demonstrated renewed growth, reaching 7.00 by February 2026. This represents a significant increase from the 4.57 observed in 2020. The ratio increased from 5.33 in 2022 to 7.00 in 2026, indicating a strengthening of the market’s valuation of the company’s sales.

The share price generally increased over the period, but not consistently. The sales per share also showed an overall upward trend, though with some year-over-year variations. The P/S ratio’s movements appear to be influenced by both the share price and sales per share, with the recent increases potentially indicating increased investor confidence or expectations for future growth.

Relationship to Share Price and Sales
The P/S ratio’s fluctuations correlate with changes in both the share price and sales per share. Periods of increasing share price, coupled with stable or increasing sales per share, generally resulted in a higher P/S ratio. Conversely, a decline in share price, even with relatively stable sales, led to a lower P/S ratio.

The observed trend suggests a changing perception of the company’s value relative to its sales over the analyzed timeframe. The recent increase in the P/S ratio warrants further investigation to determine the underlying drivers and sustainability of this trend.


Comparison to Competitors

Philip Morris International Inc., P/S, long-term trends, comparison to competitors

Microsoft Excel

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/S, long-term trends, comparison to sector (food, beverage & tobacco)

Microsoft Excel

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/S, long-term trends, comparison to industry (consumer staples)

Microsoft Excel

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).