Stock Analysis on Net

Philip Morris International Inc. (NYSE:PM)

This company has been moved to the archive! The financial data has not been updated since July 27, 2023.

Analysis of Geographic Areas

Microsoft Excel

Area Profit Margin

Philip Morris International Inc., profit margin by geographic area

Microsoft Excel
Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018
European Union Region (EU) 47.76% 49.85% 47.64% 40.44% 44.15%
Eastern Europe Region (EE) 31.30% 34.23% 25.78% 16.67% 30.88%
Middle East & Africa Region (ME&A) 45.07% 34.80% 33.23% 41.66% 39.55%
South & Southeast Asia Region (S&SA) 33.20% 34.26% 38.88% 42.46% 37.52%
East Asia & Australia Region (EA&A) 37.39% 42.94% 44.21% 36.02% 33.17%
Americas Region (AMCS) 22.91% 26.42% 33.16% 10.65% 37.47%
Swedish Match -6.96%
Wellness and Healthcare (W&H) -95.20% -51.49%

Based on: 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).

Area profitability ratio Geographic area The company
Area profit margin European Union Region (EU) European Union Region (EU) area profit margin ratio improved from 2020 to 2021 but then slightly deteriorated from 2021 to 2022 not reaching 2020 level.
Eastern Europe Region (EE) Eastern Europe Region (EE) area profit margin ratio improved from 2020 to 2021 but then slightly deteriorated from 2021 to 2022.
Middle East & Africa Region (ME&A) Middle East & Africa Region (ME&A) area profit margin ratio improved from 2020 to 2021 and from 2021 to 2022.
South & Southeast Asia Region (S&SA) South & Southeast Asia Region (S&SA) area profit margin ratio deteriorated from 2020 to 2021 and from 2021 to 2022.
East Asia & Australia Region (EA&A) East Asia & Australia Region (EA&A) area profit margin ratio deteriorated from 2020 to 2021 and from 2021 to 2022.
Americas Region (AMCS) Americas Region (AMCS) area profit margin ratio deteriorated from 2020 to 2021 and from 2021 to 2022.
Swedish Match
Wellness and Healthcare (W&H) Wellness and Healthcare (W&H) area profit margin ratio improved from 2020 to 2021 but then slightly deteriorated from 2021 to 2022 not reaching 2020 level.

Area Profit Margin: European Union Region (EU)

Philip Morris International Inc.; European Union Region (EU); area profit margin calculation

Microsoft Excel
Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018
Selected Financial Data (US$ in millions)
Operating income (loss) 5,788 6,119 5,098 3,970 4,105
Net revenues 12,119 12,275 10,702 9,817 9,298
Area Profitability Ratio
Area profit margin1 47.76% 49.85% 47.64% 40.44% 44.15%

Based on: 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).

1 2022 Calculation
Area profit margin = 100 × Operating income (loss) ÷ Net revenues
= 100 × 5,788 ÷ 12,119 = 47.76%

Area profitability ratio Geographic area The company
Area profit margin European Union Region (EU) European Union Region (EU) area profit margin ratio improved from 2020 to 2021 but then slightly deteriorated from 2021 to 2022 not reaching 2020 level.

Area Profit Margin: Eastern Europe Region (EE)

Philip Morris International Inc.; Eastern Europe Region (EE); area profit margin calculation

Microsoft Excel
Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018
Selected Financial Data (US$ in millions)
Operating income (loss) 1,166 1,213 871 547 902
Net revenues 3,725 3,544 3,378 3,282 2,921
Area Profitability Ratio
Area profit margin1 31.30% 34.23% 25.78% 16.67% 30.88%

Based on: 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).

1 2022 Calculation
Area profit margin = 100 × Operating income (loss) ÷ Net revenues
= 100 × 1,166 ÷ 3,725 = 31.30%

Area profitability ratio Geographic area The company
Area profit margin Eastern Europe Region (EE) Eastern Europe Region (EE) area profit margin ratio improved from 2020 to 2021 but then slightly deteriorated from 2021 to 2022.

Area Profit Margin: Middle East & Africa Region (ME&A)

Philip Morris International Inc.; Middle East & Africa Region (ME&A); area profit margin calculation

Microsoft Excel
Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018
Selected Financial Data (US$ in millions)
Operating income (loss) 1,758 1,146 1,026 1,684 1,627
Net revenues 3,901 3,293 3,088 4,042 4,114
Area Profitability Ratio
Area profit margin1 45.07% 34.80% 33.23% 41.66% 39.55%

Based on: 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).

1 2022 Calculation
Area profit margin = 100 × Operating income (loss) ÷ Net revenues
= 100 × 1,758 ÷ 3,901 = 45.07%

Area profitability ratio Geographic area The company
Area profit margin Middle East & Africa Region (ME&A) Middle East & Africa Region (ME&A) area profit margin ratio improved from 2020 to 2021 and from 2021 to 2022.

Area Profit Margin: South & Southeast Asia Region (S&SA)

Philip Morris International Inc.; South & Southeast Asia Region (S&SA); area profit margin calculation

Microsoft Excel
Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018
Selected Financial Data (US$ in millions)
Operating income (loss) 1,459 1,506 1,709 2,163 1,747
Net revenues 4,395 4,396 4,396 5,094 4,656
Area Profitability Ratio
Area profit margin1 33.20% 34.26% 38.88% 42.46% 37.52%

Based on: 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).

1 2022 Calculation
Area profit margin = 100 × Operating income (loss) ÷ Net revenues
= 100 × 1,459 ÷ 4,395 = 33.20%

Area profitability ratio Geographic area The company
Area profit margin South & Southeast Asia Region (S&SA) South & Southeast Asia Region (S&SA) area profit margin ratio deteriorated from 2020 to 2021 and from 2021 to 2022.

Area Profit Margin: East Asia & Australia Region (EA&A)

Philip Morris International Inc.; East Asia & Australia Region (EA&A); area profit margin calculation

Microsoft Excel
Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018
Selected Financial Data (US$ in millions)
Operating income (loss) 1,919 2,556 2,400 1,932 1,851
Net revenues 5,132 5,953 5,429 5,364 5,580
Area Profitability Ratio
Area profit margin1 37.39% 42.94% 44.21% 36.02% 33.17%

Based on: 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).

1 2022 Calculation
Area profit margin = 100 × Operating income (loss) ÷ Net revenues
= 100 × 1,919 ÷ 5,132 = 37.39%

Area profitability ratio Geographic area The company
Area profit margin East Asia & Australia Region (EA&A) East Asia & Australia Region (EA&A) area profit margin ratio deteriorated from 2020 to 2021 and from 2021 to 2022.

Area Profit Margin: Americas Region (AMCS)

Philip Morris International Inc.; Americas Region (AMCS); area profit margin calculation

Microsoft Excel
Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018
Selected Financial Data (US$ in millions)
Operating income (loss) 436 487 564 235 1,145
Net revenues 1,903 1,843 1,701 2,206 3,056
Area Profitability Ratio
Area profit margin1 22.91% 26.42% 33.16% 10.65% 37.47%

Based on: 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).

1 2022 Calculation
Area profit margin = 100 × Operating income (loss) ÷ Net revenues
= 100 × 436 ÷ 1,903 = 22.91%

Area profitability ratio Geographic area The company
Area profit margin Americas Region (AMCS) Americas Region (AMCS) area profit margin ratio deteriorated from 2020 to 2021 and from 2021 to 2022.

Area Profit Margin: Swedish Match

Philip Morris International Inc.; Swedish Match; area profit margin calculation

Microsoft Excel
Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018
Selected Financial Data (US$ in millions)
Operating income (loss) (22)
Net revenues 316
Area Profitability Ratio
Area profit margin1 -6.96%

Based on: 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).

1 2022 Calculation
Area profit margin = 100 × Operating income (loss) ÷ Net revenues
= 100 × -22 ÷ 316 = -6.96%

Area profitability ratio Geographic area The company
Area profit margin Swedish Match

Area Profit Margin: Wellness and Healthcare (W&H)

Philip Morris International Inc.; Wellness and Healthcare (W&H); area profit margin calculation

Microsoft Excel
Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018
Selected Financial Data (US$ in millions)
Operating income (loss) (258) (52)
Net revenues 271 101
Area Profitability Ratio
Area profit margin1 -95.20% -51.49%

Based on: 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).

1 2022 Calculation
Area profit margin = 100 × Operating income (loss) ÷ Net revenues
= 100 × -258 ÷ 271 = -95.20%

Area profitability ratio Geographic area The company
Area profit margin Wellness and Healthcare (W&H) Wellness and Healthcare (W&H) area profit margin ratio improved from 2020 to 2021 but then slightly deteriorated from 2021 to 2022 not reaching 2020 level.

Area Return on Assets (Area ROA)

Philip Morris International Inc., ROA by geographic area

Microsoft Excel
Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018
European Union Region (EU) 114.00% 127.83% 113.29% 92.87% 97.37%
Eastern Europe Region (EE) 215.53% 191.02% 130.39% 70.67% 164.90%
Middle East & Africa Region (ME&A) 720.49% 396.54% 273.60% 456.37% 449.45%
South & Southeast Asia Region (S&SA) 106.89% 108.35% 126.78% 158.93% 134.70%
East Asia & Australia Region (EA&A) 284.72% 345.41% 297.40% 233.05% 237.00%
Americas Region (AMCS) 34.01% 73.12% 71.94% 34.56% 146.98%
Swedish Match
Wellness and Healthcare (W&H)

Based on: 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).

Area profitability ratio Geographic area The company
Area ROA European Union Region (EU) European Union Region (EU) area ROA improved from 2020 to 2021 but then slightly deteriorated from 2021 to 2022 not reaching 2020 level.
Eastern Europe Region (EE) Eastern Europe Region (EE) area ROA improved from 2020 to 2021 and from 2021 to 2022.
Middle East & Africa Region (ME&A) Middle East & Africa Region (ME&A) area ROA improved from 2020 to 2021 and from 2021 to 2022.
South & Southeast Asia Region (S&SA) South & Southeast Asia Region (S&SA) area ROA deteriorated from 2020 to 2021 and from 2021 to 2022.
East Asia & Australia Region (EA&A) East Asia & Australia Region (EA&A) area ROA improved from 2020 to 2021 but then deteriorated significantly from 2021 to 2022.
Americas Region (AMCS) Americas Region (AMCS) area ROA improved from 2020 to 2021 but then deteriorated significantly from 2021 to 2022.
Swedish Match
Wellness and Healthcare (W&H)

Area ROA: European Union Region (EU)

Philip Morris International Inc.; European Union Region (EU); area ROA calculation

Microsoft Excel
Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018
Selected Financial Data (US$ in millions)
Operating income (loss) 5,788 6,119 5,098 3,970 4,105
Long-lived assets 5,077 4,787 4,500 4,275 4,216
Area Profitability Ratio
Area ROA1 114.00% 127.83% 113.29% 92.87% 97.37%

Based on: 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).

1 2022 Calculation
Area ROA = 100 × Operating income (loss) ÷ Long-lived assets
= 100 × 5,788 ÷ 5,077 = 114.00%

Area profitability ratio Geographic area The company
Area ROA European Union Region (EU) European Union Region (EU) area ROA improved from 2020 to 2021 but then slightly deteriorated from 2021 to 2022 not reaching 2020 level.

Area ROA: Eastern Europe Region (EE)

Philip Morris International Inc.; Eastern Europe Region (EE); area ROA calculation

Microsoft Excel
Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018
Selected Financial Data (US$ in millions)
Operating income (loss) 1,166 1,213 871 547 902
Long-lived assets 541 635 668 774 547
Area Profitability Ratio
Area ROA1 215.53% 191.02% 130.39% 70.67% 164.90%

Based on: 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).

1 2022 Calculation
Area ROA = 100 × Operating income (loss) ÷ Long-lived assets
= 100 × 1,166 ÷ 541 = 215.53%

Area profitability ratio Geographic area The company
Area ROA Eastern Europe Region (EE) Eastern Europe Region (EE) area ROA improved from 2020 to 2021 and from 2021 to 2022.

Area ROA: Middle East & Africa Region (ME&A)

Philip Morris International Inc.; Middle East & Africa Region (ME&A); area ROA calculation

Microsoft Excel
Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018
Selected Financial Data (US$ in millions)
Operating income (loss) 1,758 1,146 1,026 1,684 1,627
Long-lived assets 244 289 375 369 362
Area Profitability Ratio
Area ROA1 720.49% 396.54% 273.60% 456.37% 449.45%

Based on: 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).

1 2022 Calculation
Area ROA = 100 × Operating income (loss) ÷ Long-lived assets
= 100 × 1,758 ÷ 244 = 720.49%

Area profitability ratio Geographic area The company
Area ROA Middle East & Africa Region (ME&A) Middle East & Africa Region (ME&A) area ROA improved from 2020 to 2021 and from 2021 to 2022.

Area ROA: South & Southeast Asia Region (S&SA)

Philip Morris International Inc.; South & Southeast Asia Region (S&SA); area ROA calculation

Microsoft Excel
Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018
Selected Financial Data (US$ in millions)
Operating income (loss) 1,459 1,506 1,709 2,163 1,747
Long-lived assets 1,365 1,390 1,348 1,361 1,297
Area Profitability Ratio
Area ROA1 106.89% 108.35% 126.78% 158.93% 134.70%

Based on: 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).

1 2022 Calculation
Area ROA = 100 × Operating income (loss) ÷ Long-lived assets
= 100 × 1,459 ÷ 1,365 = 106.89%

Area profitability ratio Geographic area The company
Area ROA South & Southeast Asia Region (S&SA) South & Southeast Asia Region (S&SA) area ROA deteriorated from 2020 to 2021 and from 2021 to 2022.

Area ROA: East Asia & Australia Region (EA&A)

Philip Morris International Inc.; East Asia & Australia Region (EA&A); area ROA calculation

Microsoft Excel
Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018
Selected Financial Data (US$ in millions)
Operating income (loss) 1,919 2,556 2,400 1,932 1,851
Long-lived assets 674 740 807 829 781
Area Profitability Ratio
Area ROA1 284.72% 345.41% 297.40% 233.05% 237.00%

Based on: 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).

1 2022 Calculation
Area ROA = 100 × Operating income (loss) ÷ Long-lived assets
= 100 × 1,919 ÷ 674 = 284.72%

Area profitability ratio Geographic area The company
Area ROA East Asia & Australia Region (EA&A) East Asia & Australia Region (EA&A) area ROA improved from 2020 to 2021 but then deteriorated significantly from 2021 to 2022.

Area ROA: Americas Region (AMCS)

Philip Morris International Inc.; Americas Region (AMCS); area ROA calculation

Microsoft Excel
Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018
Selected Financial Data (US$ in millions)
Operating income (loss) 436 487 564 235 1,145
Long-lived assets 1,282 666 784 680 779
Area Profitability Ratio
Area ROA1 34.01% 73.12% 71.94% 34.56% 146.98%

Based on: 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).

1 2022 Calculation
Area ROA = 100 × Operating income (loss) ÷ Long-lived assets
= 100 × 436 ÷ 1,282 = 34.01%

Area profitability ratio Geographic area The company
Area ROA Americas Region (AMCS) Americas Region (AMCS) area ROA improved from 2020 to 2021 but then deteriorated significantly from 2021 to 2022.

Area ROA: Swedish Match

Philip Morris International Inc.; Swedish Match; area ROA calculation

Microsoft Excel
Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018
Selected Financial Data (US$ in millions)
Operating income (loss) (22)
Long-lived assets
Area Profitability Ratio
Area ROA1

Based on: 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).

1 2022 Calculation
Area ROA = 100 × Operating income (loss) ÷ Long-lived assets
= 100 × -22 ÷ 0 =

Area profitability ratio Geographic area The company
Area ROA Swedish Match

Area ROA: Wellness and Healthcare (W&H)

Philip Morris International Inc.; Wellness and Healthcare (W&H); area ROA calculation

Microsoft Excel
Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018
Selected Financial Data (US$ in millions)
Operating income (loss) (258) (52)
Long-lived assets
Area Profitability Ratio
Area ROA1

Based on: 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).

1 2022 Calculation
Area ROA = 100 × Operating income (loss) ÷ Long-lived assets
= 100 × -258 ÷ 0 =

Area profitability ratio Geographic area The company
Area ROA Wellness and Healthcare (W&H)

Area Asset Turnover

Philip Morris International Inc., asset turnover by geographic area

Microsoft Excel
Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018
European Union Region (EU) 2.39 2.56 2.38 2.30 2.21
Eastern Europe Region (EE) 6.89 5.58 5.06 4.24 5.34
Middle East & Africa Region (ME&A) 15.99 11.39 8.23 10.95 11.36
South & Southeast Asia Region (S&SA) 3.22 3.16 3.26 3.74 3.59
East Asia & Australia Region (EA&A) 7.61 8.04 6.73 6.47 7.14
Americas Region (AMCS) 1.48 2.77 2.17 3.24 3.92
Swedish Match
Wellness and Healthcare (W&H)

Based on: 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).

Area activity ratio Geographic area The company
Area asset turnover European Union Region (EU) European Union Region (EU) area asset turnover ratio improved from 2020 to 2021 but then slightly deteriorated from 2021 to 2022 not reaching 2020 level.
Eastern Europe Region (EE) Eastern Europe Region (EE) area asset turnover ratio improved from 2020 to 2021 and from 2021 to 2022.
Middle East & Africa Region (ME&A) Middle East & Africa Region (ME&A) area asset turnover ratio improved from 2020 to 2021 and from 2021 to 2022.
South & Southeast Asia Region (S&SA) South & Southeast Asia Region (S&SA) area asset turnover ratio deteriorated from 2020 to 2021 but then improved from 2021 to 2022 not reaching 2020 level.
East Asia & Australia Region (EA&A) East Asia & Australia Region (EA&A) area asset turnover ratio improved from 2020 to 2021 but then slightly deteriorated from 2021 to 2022.
Americas Region (AMCS) Americas Region (AMCS) area asset turnover ratio improved from 2020 to 2021 but then deteriorated significantly from 2021 to 2022.
Swedish Match
Wellness and Healthcare (W&H)

Area Asset Turnover: European Union Region (EU)

Philip Morris International Inc.; European Union Region (EU); area asset turnover calculation

Microsoft Excel
Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018
Selected Financial Data (US$ in millions)
Net revenues 12,119 12,275 10,702 9,817 9,298
Long-lived assets 5,077 4,787 4,500 4,275 4,216
Area Activity Ratio
Area asset turnover1 2.39 2.56 2.38 2.30 2.21

Based on: 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).

1 2022 Calculation
Area asset turnover = Net revenues ÷ Long-lived assets
= 12,119 ÷ 5,077 = 2.39

Area activity ratio Geographic area The company
Area asset turnover European Union Region (EU) European Union Region (EU) area asset turnover ratio improved from 2020 to 2021 but then slightly deteriorated from 2021 to 2022 not reaching 2020 level.

Area Asset Turnover: Eastern Europe Region (EE)

Philip Morris International Inc.; Eastern Europe Region (EE); area asset turnover calculation

Microsoft Excel
Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018
Selected Financial Data (US$ in millions)
Net revenues 3,725 3,544 3,378 3,282 2,921
Long-lived assets 541 635 668 774 547
Area Activity Ratio
Area asset turnover1 6.89 5.58 5.06 4.24 5.34

Based on: 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).

1 2022 Calculation
Area asset turnover = Net revenues ÷ Long-lived assets
= 3,725 ÷ 541 = 6.89

Area activity ratio Geographic area The company
Area asset turnover Eastern Europe Region (EE) Eastern Europe Region (EE) area asset turnover ratio improved from 2020 to 2021 and from 2021 to 2022.

Area Asset Turnover: Middle East & Africa Region (ME&A)

Philip Morris International Inc.; Middle East & Africa Region (ME&A); area asset turnover calculation

Microsoft Excel
Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018
Selected Financial Data (US$ in millions)
Net revenues 3,901 3,293 3,088 4,042 4,114
Long-lived assets 244 289 375 369 362
Area Activity Ratio
Area asset turnover1 15.99 11.39 8.23 10.95 11.36

Based on: 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).

1 2022 Calculation
Area asset turnover = Net revenues ÷ Long-lived assets
= 3,901 ÷ 244 = 15.99

Area activity ratio Geographic area The company
Area asset turnover Middle East & Africa Region (ME&A) Middle East & Africa Region (ME&A) area asset turnover ratio improved from 2020 to 2021 and from 2021 to 2022.

Area Asset Turnover: South & Southeast Asia Region (S&SA)

Philip Morris International Inc.; South & Southeast Asia Region (S&SA); area asset turnover calculation

Microsoft Excel
Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018
Selected Financial Data (US$ in millions)
Net revenues 4,395 4,396 4,396 5,094 4,656
Long-lived assets 1,365 1,390 1,348 1,361 1,297
Area Activity Ratio
Area asset turnover1 3.22 3.16 3.26 3.74 3.59

Based on: 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).

1 2022 Calculation
Area asset turnover = Net revenues ÷ Long-lived assets
= 4,395 ÷ 1,365 = 3.22

Area activity ratio Geographic area The company
Area asset turnover South & Southeast Asia Region (S&SA) South & Southeast Asia Region (S&SA) area asset turnover ratio deteriorated from 2020 to 2021 but then improved from 2021 to 2022 not reaching 2020 level.

Area Asset Turnover: East Asia & Australia Region (EA&A)

Philip Morris International Inc.; East Asia & Australia Region (EA&A); area asset turnover calculation

Microsoft Excel
Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018
Selected Financial Data (US$ in millions)
Net revenues 5,132 5,953 5,429 5,364 5,580
Long-lived assets 674 740 807 829 781
Area Activity Ratio
Area asset turnover1 7.61 8.04 6.73 6.47 7.14

Based on: 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).

1 2022 Calculation
Area asset turnover = Net revenues ÷ Long-lived assets
= 5,132 ÷ 674 = 7.61

Area activity ratio Geographic area The company
Area asset turnover East Asia & Australia Region (EA&A) East Asia & Australia Region (EA&A) area asset turnover ratio improved from 2020 to 2021 but then slightly deteriorated from 2021 to 2022.

Area Asset Turnover: Americas Region (AMCS)

Philip Morris International Inc.; Americas Region (AMCS); area asset turnover calculation

Microsoft Excel
Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018
Selected Financial Data (US$ in millions)
Net revenues 1,903 1,843 1,701 2,206 3,056
Long-lived assets 1,282 666 784 680 779
Area Activity Ratio
Area asset turnover1 1.48 2.77 2.17 3.24 3.92

Based on: 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).

1 2022 Calculation
Area asset turnover = Net revenues ÷ Long-lived assets
= 1,903 ÷ 1,282 = 1.48

Area activity ratio Geographic area The company
Area asset turnover Americas Region (AMCS) Americas Region (AMCS) area asset turnover ratio improved from 2020 to 2021 but then deteriorated significantly from 2021 to 2022.

Area Asset Turnover: Swedish Match

Philip Morris International Inc.; Swedish Match; area asset turnover calculation

Microsoft Excel
Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018
Selected Financial Data (US$ in millions)
Net revenues 316
Long-lived assets
Area Activity Ratio
Area asset turnover1

Based on: 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).

1 2022 Calculation
Area asset turnover = Net revenues ÷ Long-lived assets
= 316 ÷ 0 =

Area activity ratio Geographic area The company
Area asset turnover Swedish Match

Area Asset Turnover: Wellness and Healthcare (W&H)

Philip Morris International Inc.; Wellness and Healthcare (W&H); area asset turnover calculation

Microsoft Excel
Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018
Selected Financial Data (US$ in millions)
Net revenues 271 101
Long-lived assets
Area Activity Ratio
Area asset turnover1

Based on: 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).

1 2022 Calculation
Area asset turnover = Net revenues ÷ Long-lived assets
= 271 ÷ 0 =

Area activity ratio Geographic area The company
Area asset turnover Wellness and Healthcare (W&H)

Area Capital Expenditures to Depreciation

Philip Morris International Inc., capital expenditures to depreciation by geographic area

Microsoft Excel
Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018
European Union Region (EU) 1.95 1.46 1.09 1.83 3.02
Eastern Europe Region (EE) 0.38 0.53 0.50 0.90 1.35
Middle East & Africa Region (ME&A) 0.41 0.38 0.27 0.39 0.62
South & Southeast Asia Region (S&SA) 1.19 0.32 0.75 0.70 0.84
East Asia & Australia Region (EA&A) 0.16 0.23 0.07 0.36 1.24
Americas Region (AMCS) 1.36 0.76 0.49 0.65 0.74
Swedish Match 0.00
Wellness and Healthcare (W&H) 0.00 0.00

Based on: 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).

Area financial ratio Geographic area The company
Area capital expenditures to depreciation European Union Region (EU) European Union Region (EU) area capital expenditures to depreciation ratio improved from 2020 to 2021 and from 2021 to 2022.
Eastern Europe Region (EE) Eastern Europe Region (EE) area capital expenditures to depreciation ratio improved from 2020 to 2021 but then deteriorated significantly from 2021 to 2022.
Middle East & Africa Region (ME&A) Middle East & Africa Region (ME&A) area capital expenditures to depreciation ratio improved from 2020 to 2021 and from 2021 to 2022.
South & Southeast Asia Region (S&SA) South & Southeast Asia Region (S&SA) area capital expenditures to depreciation ratio deteriorated from 2020 to 2021 but then improved from 2021 to 2022 exceeding 2020 level.
East Asia & Australia Region (EA&A) East Asia & Australia Region (EA&A) area capital expenditures to depreciation ratio improved from 2020 to 2021 but then slightly deteriorated from 2021 to 2022.
Americas Region (AMCS) Americas Region (AMCS) area capital expenditures to depreciation ratio improved from 2020 to 2021 and from 2021 to 2022.
Swedish Match
Wellness and Healthcare (W&H)

Area Capital Expenditures to Depreciation: European Union Region (EU)

Philip Morris International Inc.; European Union Region (EU); area capital expenditures to depreciation calculation

Microsoft Excel
Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018
Selected Financial Data (US$ in millions)
Capital expenditures 682 498 326 466 813
Depreciation, amortization and impairment of intangibles expense 349 342 300 254 269
Area Financial Ratio
Area capital expenditures to depreciation1 1.95 1.46 1.09 1.83 3.02

Based on: 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).

1 2022 Calculation
Area capital expenditures to depreciation = Capital expenditures ÷ Depreciation, amortization and impairment of intangibles expense
= 682 ÷ 349 = 1.95

Area financial ratio Geographic area The company
Area capital expenditures to depreciation European Union Region (EU) European Union Region (EU) area capital expenditures to depreciation ratio improved from 2020 to 2021 and from 2021 to 2022.

Area Capital Expenditures to Depreciation: Eastern Europe Region (EE)

Philip Morris International Inc.; Eastern Europe Region (EE); area capital expenditures to depreciation calculation

Microsoft Excel
Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018
Selected Financial Data (US$ in millions)
Capital expenditures 52 71 88 132 136
Depreciation, amortization and impairment of intangibles expense 137 133 175 147 101
Area Financial Ratio
Area capital expenditures to depreciation1 0.38 0.53 0.50 0.90 1.35

Based on: 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).

1 2022 Calculation
Area capital expenditures to depreciation = Capital expenditures ÷ Depreciation, amortization and impairment of intangibles expense
= 52 ÷ 137 = 0.38

Area financial ratio Geographic area The company
Area capital expenditures to depreciation Eastern Europe Region (EE) Eastern Europe Region (EE) area capital expenditures to depreciation ratio improved from 2020 to 2021 but then deteriorated significantly from 2021 to 2022.

Area Capital Expenditures to Depreciation: Middle East & Africa Region (ME&A)

Philip Morris International Inc.; Middle East & Africa Region (ME&A); area capital expenditures to depreciation calculation

Microsoft Excel
Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018
Selected Financial Data (US$ in millions)
Capital expenditures 39 37 22 35 65
Depreciation, amortization and impairment of intangibles expense 96 97 83 90 105
Area Financial Ratio
Area capital expenditures to depreciation1 0.41 0.38 0.27 0.39 0.62

Based on: 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).

1 2022 Calculation
Area capital expenditures to depreciation = Capital expenditures ÷ Depreciation, amortization and impairment of intangibles expense
= 39 ÷ 96 = 0.41

Area financial ratio Geographic area The company
Area capital expenditures to depreciation Middle East & Africa Region (ME&A) Middle East & Africa Region (ME&A) area capital expenditures to depreciation ratio improved from 2020 to 2021 and from 2021 to 2022.

Area Capital Expenditures to Depreciation: South & Southeast Asia Region (S&SA)

Philip Morris International Inc.; South & Southeast Asia Region (S&SA); area capital expenditures to depreciation calculation

Microsoft Excel
Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018
Selected Financial Data (US$ in millions)
Capital expenditures 179 52 115 100 129
Depreciation, amortization and impairment of intangibles expense 151 164 154 142 154
Area Financial Ratio
Area capital expenditures to depreciation1 1.19 0.32 0.75 0.70 0.84

Based on: 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).

1 2022 Calculation
Area capital expenditures to depreciation = Capital expenditures ÷ Depreciation, amortization and impairment of intangibles expense
= 179 ÷ 151 = 1.19

Area financial ratio Geographic area The company
Area capital expenditures to depreciation South & Southeast Asia Region (S&SA) South & Southeast Asia Region (S&SA) area capital expenditures to depreciation ratio deteriorated from 2020 to 2021 but then improved from 2021 to 2022 exceeding 2020 level.

Area Capital Expenditures to Depreciation: East Asia & Australia Region (EA&A)

Philip Morris International Inc.; East Asia & Australia Region (EA&A); area capital expenditures to depreciation calculation

Microsoft Excel
Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018
Selected Financial Data (US$ in millions)
Capital expenditures 24 36 13 67 215
Depreciation, amortization and impairment of intangibles expense 151 157 191 185 173
Area Financial Ratio
Area capital expenditures to depreciation1 0.16 0.23 0.07 0.36 1.24

Based on: 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).

1 2022 Calculation
Area capital expenditures to depreciation = Capital expenditures ÷ Depreciation, amortization and impairment of intangibles expense
= 24 ÷ 151 = 0.16

Area financial ratio Geographic area The company
Area capital expenditures to depreciation East Asia & Australia Region (EA&A) East Asia & Australia Region (EA&A) area capital expenditures to depreciation ratio improved from 2020 to 2021 but then slightly deteriorated from 2021 to 2022.

Area Capital Expenditures to Depreciation: Americas Region (AMCS)

Philip Morris International Inc.; Americas Region (AMCS); area capital expenditures to depreciation calculation

Microsoft Excel
Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018
Selected Financial Data (US$ in millions)
Capital expenditures 101 54 38 52 78
Depreciation, amortization and impairment of intangibles expense 74 71 78 80 105
Area Financial Ratio
Area capital expenditures to depreciation1 1.36 0.76 0.49 0.65 0.74

Based on: 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).

1 2022 Calculation
Area capital expenditures to depreciation = Capital expenditures ÷ Depreciation, amortization and impairment of intangibles expense
= 101 ÷ 74 = 1.36

Area financial ratio Geographic area The company
Area capital expenditures to depreciation Americas Region (AMCS) Americas Region (AMCS) area capital expenditures to depreciation ratio improved from 2020 to 2021 and from 2021 to 2022.

Area Capital Expenditures to Depreciation: Swedish Match

Philip Morris International Inc.; Swedish Match; area capital expenditures to depreciation calculation

Microsoft Excel
Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018
Selected Financial Data (US$ in millions)
Capital expenditures
Depreciation, amortization and impairment of intangibles expense 34
Area Financial Ratio
Area capital expenditures to depreciation1 0.00

Based on: 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).

1 2022 Calculation
Area capital expenditures to depreciation = Capital expenditures ÷ Depreciation, amortization and impairment of intangibles expense
= 0 ÷ 34 = 0.00

Area financial ratio Geographic area The company
Area capital expenditures to depreciation Swedish Match

Area Capital Expenditures to Depreciation: Wellness and Healthcare (W&H)

Philip Morris International Inc.; Wellness and Healthcare (W&H); area capital expenditures to depreciation calculation

Microsoft Excel
Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018
Selected Financial Data (US$ in millions)
Capital expenditures
Depreciation, amortization and impairment of intangibles expense 197 34
Area Financial Ratio
Area capital expenditures to depreciation1 0.00 0.00

Based on: 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).

1 2022 Calculation
Area capital expenditures to depreciation = Capital expenditures ÷ Depreciation, amortization and impairment of intangibles expense
= 0 ÷ 197 = 0.00

Area financial ratio Geographic area The company
Area capital expenditures to depreciation Wellness and Healthcare (W&H)

Net revenues

Philip Morris International Inc., net revenues by geographic area

US$ in millions

Microsoft Excel
Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018
European Union Region (EU) 12,119 12,275 10,702 9,817 9,298
Eastern Europe Region (EE) 3,725 3,544 3,378 3,282 2,921
Middle East & Africa Region (ME&A) 3,901 3,293 3,088 4,042 4,114
South & Southeast Asia Region (S&SA) 4,395 4,396 4,396 5,094 4,656
East Asia & Australia Region (EA&A) 5,132 5,953 5,429 5,364 5,580
Americas Region (AMCS) 1,903 1,843 1,701 2,206 3,056
Swedish Match 316
Wellness and Healthcare (W&H) 271 101
Total 31,762 31,405 28,694 29,805 29,625

Based on: 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).


Operating income (loss)

Philip Morris International Inc., operating income (loss) by geographic area

US$ in millions

Microsoft Excel
Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018
European Union Region (EU) 5,788 6,119 5,098 3,970 4,105
Eastern Europe Region (EE) 1,166 1,213 871 547 902
Middle East & Africa Region (ME&A) 1,758 1,146 1,026 1,684 1,627
South & Southeast Asia Region (S&SA) 1,459 1,506 1,709 2,163 1,747
East Asia & Australia Region (EA&A) 1,919 2,556 2,400 1,932 1,851
Americas Region (AMCS) 436 487 564 235 1,145
Swedish Match (22)
Wellness and Healthcare (W&H) (258) (52)
Total 12,246 12,975 11,668 10,531 11,377

Based on: 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).


Depreciation, amortization and impairment of intangibles expense

Philip Morris International Inc., depreciation, amortization and impairment of intangibles expense by geographic area

US$ in millions

Microsoft Excel
Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018
European Union Region (EU) 349 342 300 254 269
Eastern Europe Region (EE) 137 133 175 147 101
Middle East & Africa Region (ME&A) 96 97 83 90 105
South & Southeast Asia Region (S&SA) 151 164 154 142 154
East Asia & Australia Region (EA&A) 151 157 191 185 173
Americas Region (AMCS) 74 71 78 80 105
Swedish Match 34
Wellness and Healthcare (W&H) 197 34
Total 1,189 998 981 898 907

Based on: 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).


Capital expenditures

Philip Morris International Inc., capital expenditures by geographic area

US$ in millions

Microsoft Excel
Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018
European Union Region (EU) 682 498 326 466 813
Eastern Europe Region (EE) 52 71 88 132 136
Middle East & Africa Region (ME&A) 39 37 22 35 65
South & Southeast Asia Region (S&SA) 179 52 115 100 129
East Asia & Australia Region (EA&A) 24 36 13 67 215
Americas Region (AMCS) 101 54 38 52 78
Swedish Match
Wellness and Healthcare (W&H)
Total 1,077 748 602 852 1,436

Based on: 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).


Long-lived assets

Philip Morris International Inc., long-lived assets by geographic area

US$ in millions

Microsoft Excel
Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018
European Union Region (EU) 5,077 4,787 4,500 4,275 4,216
Eastern Europe Region (EE) 541 635 668 774 547
Middle East & Africa Region (ME&A) 244 289 375 369 362
South & Southeast Asia Region (S&SA) 1,365 1,390 1,348 1,361 1,297
East Asia & Australia Region (EA&A) 674 740 807 829 781
Americas Region (AMCS) 1,282 666 784 680 779
Swedish Match
Wellness and Healthcare (W&H)
Total 9,183 8,507 8,482 8,288 7,982

Based on: 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).