Philip Morris International Inc. (NYSE:PM)

Return on Assets (ROA)

The Return on Assets showed a relatively stable performance during the first three quarters of 2021, fluctuating slightly around the 21.6% to 22.1% range. A peak was observed in December 2021 at 22.06%. However, starting from December 2022, a notable decline occurred, dropping sharply from 21.48% in September 2022 to 14.67% by December 2022. The downward trend continued into 2023 with ROA values hovering between 12% and 14%. In 2024, the ROA showed signs of recovery, gradually increasing from 12.2% in the first quarter to 14.7% in the third quarter, before a slight decline to 11.42% at the end of the year. In the first three quarters of 2025, a modest upward trend resumed, with ROA improving steadily from 11.68% to 12.87%.

Financial Leverage

Data for financial leverage is not available, preventing analysis of this metric over the observed periods.

Return on Equity (ROE)

Return on Equity figures are absent for all periods in the dataset, thus no trend or pattern can be identified or discussed.

The net profit margin demonstrates a generally declining trend from March 2021 to December 2021, dropping from approximately 29.69% to 29%. This downward trajectory continues more markedly through 2023, reaching a low point of 18.63% in December 2024. Notably, there is some recovery observed after this period, with margins improving to around 21.57% by September 2025. Fluctuations during mid-2024 indicate some volatility in profitability, but the overall trend within the examined timeframe suggests a contraction in net profitability, followed by a moderate rebound towards the end of the period.

The asset turnover ratio remains relatively stable in early 2021, hovering around 0.73 to 0.76. There is a slight increase to 0.78 during the first three quarters of 2022, indicating a marginal improvement in the company’s efficiency in using its assets to generate sales. However, a sudden drop to 0.51 is observed by the end of 2022, pointing to a significant decline in asset utilization efficiency. From 2023 onwards, the ratio shows a gradual recovery, improving to 0.6 by September 2025, yet it does not return to the earlier peaks seen in 2021 and early 2022. This pattern suggests periods of variability in operational efficiency with a corrective trend in later quarters.

The financial leverage and return on equity (ROE) data are absent, preventing evaluation of the company’s capital structure impact and overall shareholder return efficiency during the periods reported.

Summary of Profitability Trends

Net profit margin experienced a declining trend over the observed periods, hitting the lowest point in late 2024, before showing a moderate recovery into 2025.

Summary of Asset Utilization

Asset turnover showed initial stability and slight improvement, followed by a notable drop in late 2022, then a steady recovery phase through 2025, indicating fluctuations in operational efficiency.

Missing Data Impact

Lack of financial leverage and ROE data limits comprehensive analysis related to financial risk and returns to equity holders.

Net Profit Margin

The net profit margin exhibited a generally decreasing trend from the first quarter of 2021 through the end of 2023, falling from approximately 29.69% to around 22.21%. There was a slight rebound in early 2024, with the margin increasing to 26.42% by the third quarter of that year. However, this was followed by a notable decline to 18.63% in the last quarter of 2024. In 2025, the margin improved moderately, stabilizing around the low twenties by the third quarter.

Asset Turnover

Asset turnover stayed relatively stable with minor fluctuations in the initial period from 2021 to late 2022, hovering between 0.73 and 0.78. A marked decrease occurred at the end of 2022, dropping to 0.51, remaining low during much of 2023 and early 2024. Starting mid-2024, asset turnover showed a gradual upward movement, reaching approximately 0.61 by the first quarter of 2025, indicating some improvement in the efficiency of asset use over time.

Return on Assets (ROA)

Return on assets followed a downward trajectory from early 2021, starting near 21.7%, then decreased significantly during 2022 into 2023, reaching a low point of around 11.96% by the end of 2023. Partial recovery was observed throughout 2024, with ROA increasing to approximately 14.7% by the third quarter. However, a slight decline resumed at the end of 2024. In the first three quarters of 2025, ROA showed modest improvement, stabilizing at levels slightly above 12%.