Total Asset Turnover
since 2008
Calculation
Philip Morris International Inc., total asset turnover, long-term trends, calculation
| Total asset turnover | = | Net revenues1 | ÷ | Total assets1 | |
|---|---|---|---|---|---|
| Dec 31, 2025 | 0.59 | = | 40,648) | ÷ | 69,185) |
| Dec 31, 2024 | 0.61 | = | 37,878) | ÷ | 61,784) |
| Dec 31, 2023 | 0.54 | = | 35,174) | ÷ | 65,304) |
| Dec 31, 2022 | 0.51 | = | 31,762) | ÷ | 61,681) |
| Dec 31, 2021 | 0.76 | = | 31,405) | ÷ | 41,290) |
| Dec 31, 2020 | 0.64 | = | 28,694) | ÷ | 44,815) |
| Dec 31, 2019 | 0.70 | = | 29,805) | ÷ | 42,875) |
| Dec 31, 2018 | 0.74 | = | 29,625) | ÷ | 39,801) |
| Dec 31, 2017 | 0.67 | = | 28,748) | ÷ | 42,968) |
| Dec 31, 2016 | 0.72 | = | 26,685) | ÷ | 36,851) |
| Dec 31, 2015 | 0.79 | = | 26,794) | ÷ | 33,956) |
| Dec 31, 2014 | 0.85 | = | 29,767) | ÷ | 35,187) |
| Dec 31, 2013 | 0.82 | = | 31,217) | ÷ | 38,168) |
| Dec 31, 2012 | 0.83 | = | 31,377) | ÷ | 37,670) |
| Dec 31, 2011 | 0.88 | = | 31,097) | ÷ | 35,488) |
| Dec 31, 2010 | 0.78 | = | 27,208) | ÷ | 35,050) |
| Dec 31, 2009 | 0.72 | = | 25,035) | ÷ | 34,552) |
| Dec 31, 2008 | 0.78 | = | 25,705) | ÷ | 32,972) |
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$ in millions
The total asset turnover ratio for the period examined demonstrates fluctuations over time. Initially, the ratio exhibited a decline from 0.78 in 2008 to 0.72 in 2009. A subsequent recovery was observed, returning to 0.78 in 2010, followed by an increase to 0.88 in 2011. The ratio then experienced a slight decrease to 0.83 in 2012 and remained relatively stable at 0.82 in 2013.
From 2014 through 2016, the ratio showed a mixed pattern, increasing to 0.85 in 2014, then declining to 0.79 in 2015 and further to 0.72 in 2016. A more pronounced downward trend became apparent from 2016 onwards. The ratio decreased to 0.67 in 2017, 0.74 in 2018, and 0.70 in 2019. This decline continued into 2020, reaching a low of 0.64.
A modest recovery was seen in 2021 with a ratio of 0.76, but this was followed by a significant drop to 0.51 in 2022. A slight increase to 0.54 occurred in 2023, and the ratio continued to rise to 0.61 in 2024 and 0.59 in 2025. Overall, the most recent years show a considerably lower asset turnover compared to the earlier part of the analyzed period.
- Initial Period (2008-2011)
- The period between 2008 and 2011 was characterized by initial volatility followed by improvement. The ratio decreased initially, but then increased to its highest point in the observed timeframe, suggesting improved efficiency in asset utilization during this period.
- Mid-Period Stability (2012-2015)
- From 2012 to 2015, the ratio remained relatively stable, fluctuating within a narrow range. This indicates a consistent, though not improving, level of asset utilization.
- Recent Decline (2016-2022)
- The period from 2016 to 2022 demonstrates a clear downward trend in the total asset turnover ratio. This suggests a decreasing efficiency in generating revenue from its asset base. The substantial decline in 2022 is particularly noteworthy.
- Latest Trend (2023-2025)
- The most recent two years show a slight recovery from the low point in 2022, but the ratio remains significantly below the levels observed in the earlier years of the period. This suggests that while some improvement may be occurring, asset utilization remains a concern.
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Comparison to Competitors
Philip Morris International Inc., total asset turnover, long-term trends, comparison to competitors
| Philip Morris International Inc. | Coca-Cola Co. | Mondelēz International Inc. | PepsiCo Inc. | |
|---|---|---|---|---|
| Dec 31, 2025 | 0.59 | 0.46 | 0.54 | 0.87 |
| Dec 31, 2024 | 0.61 | 0.47 | 0.53 | 0.92 |
| Dec 31, 2023 | 0.54 | 0.47 | 0.50 | 0.91 |
| Dec 31, 2022 | 0.51 | 0.46 | 0.44 | 0.94 |
| Dec 31, 2021 | 0.76 | 0.41 | 0.43 | 0.86 |
| Dec 31, 2020 | 0.64 | 0.38 | 0.39 | 0.76 |
| Dec 31, 2019 | 0.70 | 0.43 | 0.40 | 0.86 |
| Dec 31, 2018 | 0.74 | 0.38 | 0.41 | 0.83 |
| Dec 31, 2017 | 0.67 | 0.40 | 0.41 | 0.80 |
| Dec 31, 2016 | 0.72 | 0.48 | 0.42 | 0.85 |
| Dec 31, 2015 | 0.79 | 0.49 | 0.47 | 0.91 |
| Dec 31, 2014 | 0.85 | 0.50 | 0.51 | 0.95 |
| Dec 31, 2013 | 0.82 | 0.52 | 0.49 | 0.86 |
| Dec 31, 2012 | 0.83 | 0.56 | 0.46 | 0.88 |
| Dec 31, 2011 | 0.88 | 0.58 | 0.58 | 0.91 |
| Dec 31, 2010 | 0.78 | 0.48 | 0.52 | 0.85 |
| Dec 31, 2009 | 0.72 | 0.64 | 0.61 | 1.08 |
| Dec 31, 2008 | 0.78 | 0.79 | 0.67 | 1.20 |
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., total asset turnover, long-term trends, comparison to sector (food, beverage & tobacco)
| Philip Morris International Inc. | Food, Beverage & Tobacco | |
|---|---|---|
| Dec 31, 2025 | 0.59 | 0.63 |
| Dec 31, 2024 | 0.61 | 0.65 |
| Dec 31, 2023 | 0.54 | 0.62 |
| Dec 31, 2022 | 0.51 | 0.61 |
| Dec 31, 2021 | 0.76 | 0.60 |
| Dec 31, 2020 | 0.64 | 0.54 |
| Dec 31, 2019 | 0.70 | 0.59 |
| Dec 31, 2018 | 0.74 | 0.58 |
| Dec 31, 2017 | 0.67 | 0.56 |
| Dec 31, 2016 | 0.72 | 0.61 |
| Dec 31, 2015 | 0.79 | 0.64 |
| Dec 31, 2014 | 0.85 | 0.67 |
| Dec 31, 2013 | 0.82 | 0.65 |
| Dec 31, 2012 | 0.83 | 0.66 |
| Dec 31, 2011 | 0.88 | 0.70 |
| Dec 31, 2010 | 0.78 | 0.62 |
| Dec 31, 2009 | 0.72 | 0.74 |
| Dec 31, 2008 | 0.78 | 0.83 |
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., total asset turnover, long-term trends, comparison to industry (consumer staples)
| Philip Morris International Inc. | Consumer Staples | |
|---|---|---|
| Dec 31, 2025 | 0.59 | 1.55 |
| Dec 31, 2024 | 0.61 | 1.56 |
| Dec 31, 2023 | 0.54 | 1.51 |
| Dec 31, 2022 | 0.51 | 1.47 |
| Dec 31, 2021 | 0.76 | 1.41 |
| Dec 31, 2020 | 0.64 | 1.32 |
| Dec 31, 2019 | 0.70 | 1.39 |
| Dec 31, 2018 | 0.74 | 1.39 |
| Dec 31, 2017 | 0.67 | 1.34 |
| Dec 31, 2016 | 0.72 | 1.35 |
| Dec 31, 2015 | 0.79 | 1.37 |
| Dec 31, 2014 | 0.85 | 1.32 |
| Dec 31, 2013 | 0.82 | 1.30 |
| Dec 31, 2012 | 0.83 | 1.30 |
| Dec 31, 2011 | 0.88 | 1.27 |
| Dec 31, 2010 | 0.78 | 1.24 |
| Dec 31, 2009 | 0.72 | 1.36 |
| Dec 31, 2008 | 0.78 | 1.35 |
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).