Stock Analysis on Net
Stock Analysis on Net

Philip Morris International Inc. (NYSE:PM)

Analysis of Profitability Ratios
Quarterly Data

Beginner level

Profitability Ratios (Summary)

Philip Morris International Inc., profitability ratios (quarterly data)

Microsoft Excel LibreOffice Calc
Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019 Dec 31, 2018 Sep 30, 2018 Jun 30, 2018 Mar 31, 2018 Dec 31, 2017 Sep 30, 2017 Jun 30, 2017 Mar 31, 2017 Dec 31, 2016 Sep 30, 2016 Jun 30, 2016 Mar 31, 2016
Return on Sales
Gross profit margin 25.52% 25.15% 25.13% 25.16% 25.18% 24.76% 24.48% 24.26% 23.86% 23.64% 23.84% 23.60% 23.40% 23.45% 23.11% 23.08% 23.01% 23.07%
Operating profit margin 15.97% 15.34% 14.76% 14.17% 14.36% 13.51% 13.76% 14.23% 13.91% 14.25% 14.71% 14.56% 14.42% 14.73% 14.26% 14.27% 14.37% 14.43%
Net profit margin 11.21% 10.59% 10.08% 9.55% 9.76% 9.22% 9.60% 10.04% 9.75% 9.91% 8.21% 7.85% 7.50% 7.73% 9.32% 9.36% 9.40% 9.30%
Return on Investment
Return on equity (ROE)
Return on assets (ROA) 21.73% 17.98% 19.67% 18.60% 20.42% 16.76% 18.06% 19.61% 20.26% 19.88% 17.00% 15.76% 13.93% 14.05% 16.81% 18.16% 19.19% 18.91%

Based on: 10-Q (filing date: 2021-04-27), 10-K (filing date: 2021-02-09), 10-Q (filing date: 2020-10-27), 10-Q (filing date: 2020-07-29), 10-Q (filing date: 2020-04-28), 10-K (filing date: 2020-02-07), 10-Q (filing date: 2019-10-24), 10-Q (filing date: 2019-07-25), 10-Q (filing date: 2019-04-25), 10-K (filing date: 2019-02-07), 10-Q (filing date: 2018-10-25), 10-Q (filing date: 2018-07-26), 10-Q (filing date: 2018-04-26), 10-K (filing date: 2018-02-13), 10-Q (filing date: 2017-10-26), 10-Q (filing date: 2017-07-27), 10-Q (filing date: 2017-04-27), 10-K (filing date: 2017-02-14), 10-Q (filing date: 2016-10-25), 10-Q (filing date: 2016-07-26), 10-Q (filing date: 2016-04-26).

Profitability ratio Description The company
Gross profit margin Gross profit margin indicates the percentage of revenue available to cover operating and other expenditures. Philip Morris International Inc.’s gross profit margin ratio improved from Q3 2020 to Q4 2020 and from Q4 2020 to Q1 2021.
Operating profit margin A profitability ratio calculated as operating income divided by revenue. Philip Morris International Inc.’s operating profit margin ratio improved from Q3 2020 to Q4 2020 and from Q4 2020 to Q1 2021.
Net profit margin An indicator of profitability, calculated as net income divided by revenue. Philip Morris International Inc.’s net profit margin ratio improved from Q3 2020 to Q4 2020 and from Q4 2020 to Q1 2021.

Profitability ratio Description The company
ROA A profitability ratio calculated as net income divided by total assets. Philip Morris International Inc.’s ROA deteriorated from Q3 2020 to Q4 2020 but then improved from Q4 2020 to Q1 2021 exceeding Q3 2020 level.

Gross Profit Margin

Philip Morris International Inc., gross profit margin calculation (quarterly data)

Microsoft Excel LibreOffice Calc
Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019 Dec 31, 2018 Sep 30, 2018 Jun 30, 2018 Mar 31, 2018 Dec 31, 2017 Sep 30, 2017 Jun 30, 2017 Mar 31, 2017 Dec 31, 2016 Sep 30, 2016 Jun 30, 2016 Mar 31, 2016
Selected Financial Data (US$ in millions)
Gross profit 5,311  4,872  5,030  4,472  4,751  4,935  5,037  5,034  4,286  4,718  4,886  4,982  4,281  5,293  4,738  4,398  3,887  4,472  4,550  4,285  3,987 
Revenues including excise taxes 19,355  19,531  20,444  17,819  18,253  19,849  20,380  19,987  17,705  19,858  20,439  21,100  18,426  21,585  20,638  19,319  16,556  19,189  19,935  19,041  16,788 
Profitability Ratio
Gross profit margin1 25.52% 25.15% 25.13% 25.16% 25.18% 24.76% 24.48% 24.26% 23.86% 23.64% 23.84% 23.60% 23.40% 23.45% 23.11% 23.08% 23.01% 23.07%
Benchmarks
Gross Profit Margin, Competitors2
Altria Group Inc. 51.96% 49.80% 50.13% 49.79% 49.43% 50.62% 49.76% 48.84% 48.74% 48.31% 48.13% 48.05% 47.30% 46.73% 46.29% 45.85% 45.47% 45.02%
Coca-Cola Co. 59.42% 59.31% 59.90% 60.04% 60.66% 60.77% 60.93% 61.56% 62.35% 63.05% 63.67% 63.57% 63.20% 62.56% 61.51% 61.15% 60.91% 60.67%
Mondelēz International Inc. 40.43% 39.30% 39.44% 38.85% 39.16% 39.96% 39.36% 39.07% 39.27% 39.91% 40.06% 40.21% 39.58% 38.87% 38.87% 38.83% 39.09% 39.07%
PepsiCo Inc. 54.65% 54.82% 55.19% 55.28% 55.15% 55.13% 55.00% 54.77% 54.74% 54.56% 54.34% 54.42% 54.47% 54.69% 54.89% 54.87% 55.00% 55.08%

Based on: 10-Q (filing date: 2021-04-27), 10-K (filing date: 2021-02-09), 10-Q (filing date: 2020-10-27), 10-Q (filing date: 2020-07-29), 10-Q (filing date: 2020-04-28), 10-K (filing date: 2020-02-07), 10-Q (filing date: 2019-10-24), 10-Q (filing date: 2019-07-25), 10-Q (filing date: 2019-04-25), 10-K (filing date: 2019-02-07), 10-Q (filing date: 2018-10-25), 10-Q (filing date: 2018-07-26), 10-Q (filing date: 2018-04-26), 10-K (filing date: 2018-02-13), 10-Q (filing date: 2017-10-26), 10-Q (filing date: 2017-07-27), 10-Q (filing date: 2017-04-27), 10-K (filing date: 2017-02-14), 10-Q (filing date: 2016-10-25), 10-Q (filing date: 2016-07-26), 10-Q (filing date: 2016-04-26).

1 Q1 2021 Calculation
Gross profit margin = 100 × (Gross profitQ1 2021 + Gross profitQ4 2020 + Gross profitQ3 2020 + Gross profitQ2 2020) ÷ (Revenues including excise taxesQ1 2021 + Revenues including excise taxesQ4 2020 + Revenues including excise taxesQ3 2020 + Revenues including excise taxesQ2 2020)
= 100 × (5,311 + 4,872 + 5,030 + 4,472) ÷ (19,355 + 19,531 + 20,444 + 17,819) = 25.52%

2 Click competitor name to see calculations.

Profitability ratio Description The company
Gross profit margin Gross profit margin indicates the percentage of revenue available to cover operating and other expenditures. Philip Morris International Inc.’s gross profit margin ratio improved from Q3 2020 to Q4 2020 and from Q4 2020 to Q1 2021.

Operating Profit Margin

Philip Morris International Inc., operating profit margin calculation (quarterly data)

Microsoft Excel LibreOffice Calc
Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019 Dec 31, 2018 Sep 30, 2018 Jun 30, 2018 Mar 31, 2018 Dec 31, 2017 Sep 30, 2017 Jun 30, 2017 Mar 31, 2017 Dec 31, 2016 Sep 30, 2016 Jun 30, 2016 Mar 31, 2016
Selected Financial Data (US$ in millions)
Operating income 3,444  2,905  3,243  2,731  2,789  2,506  2,788  3,187  2,050  2,702  3,156  3,093  2,426  3,318  3,068  2,721  2,396  2,612  2,977  2,753  2,473 
Revenues including excise taxes 19,355  19,531  20,444  17,819  18,253  19,849  20,380  19,987  17,705  19,858  20,439  21,100  18,426  21,585  20,638  19,319  16,556  19,189  19,935  19,041  16,788 
Profitability Ratio
Operating profit margin1 15.97% 15.34% 14.76% 14.17% 14.36% 13.51% 13.76% 14.23% 13.91% 14.25% 14.71% 14.56% 14.42% 14.73% 14.26% 14.27% 14.37% 14.43%
Benchmarks
Operating Profit Margin, Competitors2
Altria Group Inc. 43.46% 41.57% 41.46% 41.04% 40.34% 41.12% 38.24% 36.73% 36.32% 35.94% 37.61% 37.97% 37.60% 37.36% 36.48% 35.37% 35.06% 34.04%
Coca-Cola Co. 27.93% 27.25% 26.36% 26.29% 26.98% 27.06% 27.11% 28.20% 28.32% 27.31% 25.95% 24.07% 21.61% 21.18% 20.20% 19.78% 20.80% 20.61%
Mondelēz International Inc. 15.79% 14.50% 13.78% 12.95% 14.07% 14.86% 14.80% 14.29% 12.15% 12.77% 12.58% 14.14% 14.82% 13.54% 12.33% 10.52% 10.38% 9.91%
PepsiCo Inc. 14.68% 14.32% 14.52% 14.48% 14.98% 15.32% 15.18% 15.32% 15.87% 15.64% 15.89% 16.18% 16.21% 16.54% 16.21% 16.00% 16.03% 15.58%

Based on: 10-Q (filing date: 2021-04-27), 10-K (filing date: 2021-02-09), 10-Q (filing date: 2020-10-27), 10-Q (filing date: 2020-07-29), 10-Q (filing date: 2020-04-28), 10-K (filing date: 2020-02-07), 10-Q (filing date: 2019-10-24), 10-Q (filing date: 2019-07-25), 10-Q (filing date: 2019-04-25), 10-K (filing date: 2019-02-07), 10-Q (filing date: 2018-10-25), 10-Q (filing date: 2018-07-26), 10-Q (filing date: 2018-04-26), 10-K (filing date: 2018-02-13), 10-Q (filing date: 2017-10-26), 10-Q (filing date: 2017-07-27), 10-Q (filing date: 2017-04-27), 10-K (filing date: 2017-02-14), 10-Q (filing date: 2016-10-25), 10-Q (filing date: 2016-07-26), 10-Q (filing date: 2016-04-26).

1 Q1 2021 Calculation
Operating profit margin = 100 × (Operating incomeQ1 2021 + Operating incomeQ4 2020 + Operating incomeQ3 2020 + Operating incomeQ2 2020) ÷ (Revenues including excise taxesQ1 2021 + Revenues including excise taxesQ4 2020 + Revenues including excise taxesQ3 2020 + Revenues including excise taxesQ2 2020)
= 100 × (3,444 + 2,905 + 3,243 + 2,731) ÷ (19,355 + 19,531 + 20,444 + 17,819) = 15.97%

2 Click competitor name to see calculations.

Profitability ratio Description The company
Operating profit margin A profitability ratio calculated as operating income divided by revenue. Philip Morris International Inc.’s operating profit margin ratio improved from Q3 2020 to Q4 2020 and from Q4 2020 to Q1 2021.

Net Profit Margin

Philip Morris International Inc., net profit margin calculation (quarterly data)

Microsoft Excel LibreOffice Calc
Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019 Dec 31, 2018 Sep 30, 2018 Jun 30, 2018 Mar 31, 2018 Dec 31, 2017 Sep 30, 2017 Jun 30, 2017 Mar 31, 2017 Dec 31, 2016 Sep 30, 2016 Jun 30, 2016 Mar 31, 2016
Selected Financial Data (US$ in millions)
Net earnings attributable to PMI 2,418  1,976  2,307  1,947  1,826  1,616  1,896  2,319  1,354  1,910  2,247  2,198  1,556  694  1,970  1,781  1,590  1,711  1,938  1,788  1,530 
Revenues including excise taxes 19,355  19,531  20,444  17,819  18,253  19,849  20,380  19,987  17,705  19,858  20,439  21,100  18,426  21,585  20,638  19,319  16,556  19,189  19,935  19,041  16,788 
Profitability Ratio
Net profit margin1 11.21% 10.59% 10.08% 9.55% 9.76% 9.22% 9.60% 10.04% 9.75% 9.91% 8.21% 7.85% 7.50% 7.73% 9.32% 9.36% 9.40% 9.30%
Benchmarks
Net Profit Margin, Competitors2
Altria Group Inc. 16.80% 17.08% 2.84% -3.57% -3.33% -5.15% 7.00% 25.04% 24.87% 27.45% 42.12% 42.00% 41.85% 39.97% 60.37% 56.98% 55.99% 55.31%
Coca-Cola Co. 21.59% 23.47% 24.90% 26.77% 26.95% 23.94% 21.98% 20.69% 20.48% 20.20% 8.70% 7.18% 4.23% 3.52% 12.20% 10.68% 15.30% 15.59%
Mondelēz International Inc. 13.94% 13.37% 11.93% 13.25% 14.18% 14.96% 15.42% 14.57% 12.64% 13.03% 12.86% 11.97% 12.72% 11.28% 8.61% 6.92% 6.70% 6.40%
PepsiCo Inc. 10.51% 10.12% 10.27% 10.13% 10.62% 10.89% 18.78% 19.59% 19.37% 19.35% 7.66% 7.14% 7.62% 7.65% 10.97% 10.77% 10.66% 10.08%

Based on: 10-Q (filing date: 2021-04-27), 10-K (filing date: 2021-02-09), 10-Q (filing date: 2020-10-27), 10-Q (filing date: 2020-07-29), 10-Q (filing date: 2020-04-28), 10-K (filing date: 2020-02-07), 10-Q (filing date: 2019-10-24), 10-Q (filing date: 2019-07-25), 10-Q (filing date: 2019-04-25), 10-K (filing date: 2019-02-07), 10-Q (filing date: 2018-10-25), 10-Q (filing date: 2018-07-26), 10-Q (filing date: 2018-04-26), 10-K (filing date: 2018-02-13), 10-Q (filing date: 2017-10-26), 10-Q (filing date: 2017-07-27), 10-Q (filing date: 2017-04-27), 10-K (filing date: 2017-02-14), 10-Q (filing date: 2016-10-25), 10-Q (filing date: 2016-07-26), 10-Q (filing date: 2016-04-26).

1 Q1 2021 Calculation
Net profit margin = 100 × (Net earnings attributable to PMIQ1 2021 + Net earnings attributable to PMIQ4 2020 + Net earnings attributable to PMIQ3 2020 + Net earnings attributable to PMIQ2 2020) ÷ (Revenues including excise taxesQ1 2021 + Revenues including excise taxesQ4 2020 + Revenues including excise taxesQ3 2020 + Revenues including excise taxesQ2 2020)
= 100 × (2,418 + 1,976 + 2,307 + 1,947) ÷ (19,355 + 19,531 + 20,444 + 17,819) = 11.21%

2 Click competitor name to see calculations.

Profitability ratio Description The company
Net profit margin An indicator of profitability, calculated as net income divided by revenue. Philip Morris International Inc.’s net profit margin ratio improved from Q3 2020 to Q4 2020 and from Q4 2020 to Q1 2021.

Return on Equity (ROE)

Philip Morris International Inc., ROE calculation (quarterly data)

Microsoft Excel LibreOffice Calc
Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019 Dec 31, 2018 Sep 30, 2018 Jun 30, 2018 Mar 31, 2018 Dec 31, 2017 Sep 30, 2017 Jun 30, 2017 Mar 31, 2017 Dec 31, 2016 Sep 30, 2016 Jun 30, 2016 Mar 31, 2016
Selected Financial Data (US$ in millions)
Net earnings attributable to PMI 2,418  1,976  2,307  1,947  1,826  1,616  1,896  2,319  1,354  1,910  2,247  2,198  1,556  694  1,970  1,781  1,590  1,711  1,938  1,788  1,530 
Total PMI stockholders’ deficit (11,548) (12,567) (12,092) (11,997) (12,944) (11,577) (11,010) (11,199) (11,968) (12,459) (11,720) (11,915) (12,350) (12,086) (11,407) (12,008) (12,392) (12,688) (12,142) (12,556) (12,753)
Profitability Ratio
ROE1
Benchmarks
ROE, Competitors2
Altria Group Inc. 148.95% 157.34% 23.38% -16.07% -13.16% -20.78% 16.75% 43.62% 43.96% 47.09% 68.92% 67.12% 69.61% 66.48% 127.67% 118.85% 117.64% 111.50%
Coca-Cola Co. 35.46% 40.14% 44.78% 52.56% 55.17% 46.99% 41.40% 38.69% 38.03% 37.89% 15.40% 12.98% 7.31% 7.31% 20.57% 18.86% 27.22% 28.30%
Mondelēz International Inc. 13.96% 12.89% 11.60% 13.18% 14.38% 14.19% 14.80% 14.33% 12.58% 13.19% 13.20% 12.53% 12.62% 11.19% 8.50% 6.88% 6.76% 6.59%
PepsiCo Inc. 53.75% 52.92% 52.22% 54.84% 53.76% 49.47% 87.78% 91.74% 88.61% 86.20% 48.13% 45.47% 44.86% 44.60% 52.41% 54.95% 58.05% 57.04%

Based on: 10-Q (filing date: 2021-04-27), 10-K (filing date: 2021-02-09), 10-Q (filing date: 2020-10-27), 10-Q (filing date: 2020-07-29), 10-Q (filing date: 2020-04-28), 10-K (filing date: 2020-02-07), 10-Q (filing date: 2019-10-24), 10-Q (filing date: 2019-07-25), 10-Q (filing date: 2019-04-25), 10-K (filing date: 2019-02-07), 10-Q (filing date: 2018-10-25), 10-Q (filing date: 2018-07-26), 10-Q (filing date: 2018-04-26), 10-K (filing date: 2018-02-13), 10-Q (filing date: 2017-10-26), 10-Q (filing date: 2017-07-27), 10-Q (filing date: 2017-04-27), 10-K (filing date: 2017-02-14), 10-Q (filing date: 2016-10-25), 10-Q (filing date: 2016-07-26), 10-Q (filing date: 2016-04-26).

1 Q1 2021 Calculation
ROE = 100 × (Net earnings attributable to PMIQ1 2021 + Net earnings attributable to PMIQ4 2020 + Net earnings attributable to PMIQ3 2020 + Net earnings attributable to PMIQ2 2020) ÷ Total PMI stockholders’ deficit
= 100 × (2,418 + 1,976 + 2,307 + 1,947) ÷ -11,548 =

2 Click competitor name to see calculations.


Return on Assets (ROA)

Philip Morris International Inc., ROA calculation (quarterly data)

Microsoft Excel LibreOffice Calc
Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019 Dec 31, 2018 Sep 30, 2018 Jun 30, 2018 Mar 31, 2018 Dec 31, 2017 Sep 30, 2017 Jun 30, 2017 Mar 31, 2017 Dec 31, 2016 Sep 30, 2016 Jun 30, 2016 Mar 31, 2016
Selected Financial Data (US$ in millions)
Net earnings attributable to PMI 2,418  1,976  2,307  1,947  1,826  1,616  1,896  2,319  1,354  1,910  2,247  2,198  1,556  694  1,970  1,781  1,590  1,711  1,938  1,788  1,530 
Total assets 39,804  44,815  39,129  39,162  37,494  42,875  41,420  39,923  38,042  39,801  39,380  40,721  43,070  42,968  41,951  38,660  36,627  36,851  35,577  34,802  34,621 
Profitability Ratio
ROA1 21.73% 17.98% 19.67% 18.60% 20.42% 16.76% 18.06% 19.61% 20.26% 19.88% 17.00% 15.76% 13.93% 14.05% 16.81% 18.16% 19.19% 18.91%
Benchmarks
ROA, Competitors2
Altria Group Inc. 8.90% 9.42% 1.57% -1.82% -1.64% -2.62% 3.34% 10.97% 10.45% 12.51% 24.30% 24.55% 24.41% 23.66% 35.17% 33.75% 31.24% 31.00%
Coca-Cola Co. 8.02% 8.87% 8.57% 9.70% 10.65% 10.33% 8.86% 7.82% 7.63% 7.73% 3.24% 2.66% 1.54% 1.42% 5.03% 4.55% 6.83% 7.48%
Mondelēz International Inc. 5.70% 5.24% 4.72% 5.34% 5.81% 6.00% 6.21% 5.88% 5.06% 5.39% 5.26% 5.01% 5.17% 4.63% 3.50% 2.82% 2.79% 2.70%
PepsiCo Inc. 8.22% 7.66% 7.65% 7.65% 8.51% 9.31% 16.01% 17.05% 16.68% 16.12% 6.72% 5.84% 5.96% 6.09% 8.88% 8.86% 9.00% 8.54%

Based on: 10-Q (filing date: 2021-04-27), 10-K (filing date: 2021-02-09), 10-Q (filing date: 2020-10-27), 10-Q (filing date: 2020-07-29), 10-Q (filing date: 2020-04-28), 10-K (filing date: 2020-02-07), 10-Q (filing date: 2019-10-24), 10-Q (filing date: 2019-07-25), 10-Q (filing date: 2019-04-25), 10-K (filing date: 2019-02-07), 10-Q (filing date: 2018-10-25), 10-Q (filing date: 2018-07-26), 10-Q (filing date: 2018-04-26), 10-K (filing date: 2018-02-13), 10-Q (filing date: 2017-10-26), 10-Q (filing date: 2017-07-27), 10-Q (filing date: 2017-04-27), 10-K (filing date: 2017-02-14), 10-Q (filing date: 2016-10-25), 10-Q (filing date: 2016-07-26), 10-Q (filing date: 2016-04-26).

1 Q1 2021 Calculation
ROA = 100 × (Net earnings attributable to PMIQ1 2021 + Net earnings attributable to PMIQ4 2020 + Net earnings attributable to PMIQ3 2020 + Net earnings attributable to PMIQ2 2020) ÷ Total assets
= 100 × (2,418 + 1,976 + 2,307 + 1,947) ÷ 39,804 = 21.73%

2 Click competitor name to see calculations.

Profitability ratio Description The company
ROA A profitability ratio calculated as net income divided by total assets. Philip Morris International Inc.’s ROA deteriorated from Q3 2020 to Q4 2020 but then improved from Q4 2020 to Q1 2021 exceeding Q3 2020 level.