Income Statement Altria Group, Inc.

Equities

MO

US02209S1033

Tobacco

Market Closed - Nyse Other stock markets 21:00:02 18/09/2024 BST			After market 22:47:37
50.63 ^USD	+0.26%		50.74	+0.23%

09-09	UBS Adjusts Price Target on Altria to $41 From $39, Maintains Sell Rating	MT
09-09	Barclays Raises Price Target on Altria Group to $45 From $43	MT

fca4.w4BicoMwgpCN58sJGuMZmlgI8ykw8pA4DwUQ1C54vQA.tvITALtk6t_CrLxFcpAt8SFYlFBZh9h1bXUpo38M8nr3z08EtwS6p8_Xhg

Published financial data: ALTRIA GROUP, INC.

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2019	2020	2021	2022	2023
Revenues	19.8B	20.84B	21.11B	20.69B	20.5B
Total Revenues	19.8B	20.84B	21.11B	20.69B	20.5B
Cost of Goods Sold, Total	7.08B	7.35B	7.17B	6.5B	6.25B
Gross Profit	12.71B	13.49B	13.94B	14.18B	14.26B
Selling General & Admin Expenses, Total	1.9B	1.89B	1.91B	1.88B	2.06B
Other Operating Expenses	-	-	-	-	-
Other Operating Expenses, Total	1.9B	1.89B	1.91B	1.88B	2.06B
Operating Income	10.81B	11.6B	12.03B	12.3B	12.2B
Interest Expense, Total	-1.26B	-1.26B	-1.19B	-1.12B	-1.14B
Interest And Investment Income	42M	14M	26M	70M	160M
Net Interest Expenses	-1.22B	-1.24B	-1.16B	-1.06B	-978M
Income (Loss) On Equity Invest.	1.72B	-111M	-5.98B	-3.64B	243M
Currency Exchange Gains (Loss)	36M	40M	7M	-	-
Other Non Operating Income (Expenses)	-	-	-	-	-
EBT, Excl. Unusual Items	11.36B	10.28B	4.9B	7.6B	11.46B
Restructuring Charges	-216M	-407M	-1M	-	-
Merger & Related Restructuring Charges	-8M	-	-37M	-	-
Impairment of Goodwill	-	-	-	-	-
Gain (Loss) On Sale Of Investments	-8.6B	-2.6B	-	-	-
Asset Writedown	-	-	-	-	-
Legal Settlements	-228M	-193M	-293M	-264M	-563M
Other Unusual Items	-1.54B	-194M	-744M	48M	29M
EBT, Incl. Unusual Items	766M	6.89B	3.82B	7.39B	10.93B
Income Tax Expense	2.06B	2.44B	1.35B	1.62B	2.8B
Earnings From Continuing Operations	-1.3B	4.45B	2.48B	5.76B	8.13B
Net Income to Company	-1.3B	4.45B	2.48B	5.76B	8.13B
Minority Interest	5M	13M	-	-	-
Net Income - (IS)	-1.29B	4.47B	2.48B	5.76B	8.13B
Preferred Dividend and Other Adjustments	7M	8M	11M	13M	17M
Net Income to Common Incl Extra Items	-1.3B	4.46B	2.46B	5.75B	8.11B
Net Income to Common Excl. Extra Items	-1.3B	4.46B	2.46B	5.75B	8.11B
Per Share Items
Net EPS - Basic	-0.7	2.4	1.34	3.19	4.57
Basic EPS - Continuing Operations	-0.7	2.4	1.34	3.19	4.57
Basic Weighted Average Shares Outstanding	1.87B	1.86B	1.84B	1.8B	1.78B
Net EPS - Diluted	-0.7	2.4	1.34	3.19	4.57
Diluted EPS - Continuing Operations	-0.7	2.4	1.34	3.19	4.57
Diluted Weighted Average Shares Outstanding	1.87B	1.86B	1.84B	1.8B	1.78B
Normalized Basic EPS	3.8	3.47	1.66	2.63	4.03
Normalized Diluted EPS	3.8	3.46	1.66	2.63	4.03
Dividend Per Share	3.28	3.4	3.52	3.68	3.84
Payout Ratio	-469.37	140.81	260.44	114.49	83.38
Supplemental Items
EBITDA	11.04B	11.86B	12.28B	12.53B	12.47B
EBITA	10.85B	11.67B	12.1B	12.37B	12.32B
EBIT	10.81B	11.6B	12.03B	12.3B	12.2B
EBITDAR	-	-	-	-	-
Effective Tax Rate - (Ratio)	269.45	35.36	35.28	21.99	25.6
Current Domestic Taxes	2.16B	2.58B	2.51B	2.57B	3.03B
Current Foreign Taxes	3M	22M	2M	1M	1M
Total Current Taxes	2.16B	2.6B	2.51B	2.57B	3.03B
Deferred Domestic Taxes	-97M	-164M	-1.16B	-947M	-230M
Deferred Foreign Taxes	2M	-	-	-	-
Total Deferred Taxes	-95M	-164M	-1.16B	-947M	-230M
Normalized Net Income	7.1B	6.44B	3.06B	4.75B	7.16B
Interest on Long-Term Debt	-	1.22B	1.19B	1.13B	1.15B
Non-Cash Pension Expense	-78M	-102M	-202M	-185M	-142M
Supplemental Operating Expense Items
Advertising Expense	33M	26M	-	-	-
Research And Development Expense From Footnotes	168M	131M	145M	162M	220M
Net Rental Expense, Total	-	-	-	-	-
Imputed Operating Lease Interest Expense	-	-	-	-	-
Imputed Operating Lease Depreciation	-	-	-	-	-
Stock-Based Comp., Other (Total)	32M	35M	40M	50M	58M
Total Stock-Based Compensation	32M	35M	40M	50M	58M

Fiscal Period: December	2019	2020	2021	2022	2023
Assets
Cash And Equivalents	2.12B	4.94B	4.54B	4.03B	3.69B
Total Cash And Short Term Investments	2.12B	4.94B	4.54B	4.03B	3.69B
Accounts Receivable, Total	152M	137M	47M	1.72B	-
Other Receivables	116M	-	-	48M	567M
Total Receivables	268M	137M	47M	1.77B	567M
Inventory	2.29B	1.97B	1.19B	1.18B	1.22B
Deferred Tax Assets Current	-	-	-	-	-
Restricted Cash	-	1M	-	15M	5M
Other Current Assets, Total	146M	68M	298M	226M	112M
Total Current Assets	4.82B	7.12B	6.08B	7.22B	5.58B
Gross Property Plant And Equipment	5.07B	5.15B	4.43B	4.43B	4.58B
Accumulated Depreciation	-3.08B	-3.14B	-2.88B	-2.82B	-2.93B
Net Property Plant And Equipment	2B	2.01B	1.55B	1.61B	1.65B
Long-term Investments	23.58B	19.53B	13.48B	9.6B	10.01B
Goodwill	5.18B	5.18B	5.18B	5.18B	6.79B
Other Intangibles, Total	12.69B	12.62B	12.31B	12.38B	13.69B
Finance Division Loans and Leases Long-Term	-	-	-	-	-
Deferred Charges Long-Term	-	-	-	-	-
Other Long-Term Assets, Total	1B	964M	923M	965M	845M
Total Assets	49.27B	47.41B	39.52B	36.95B	38.57B
Liabilities
Accounts Payable, Total	325M	380M	449M	552M	582M
Accrued Expenses, Total	1.56B	1.62B	1.65B	1.58B	2.01B
Short-term Borrowings	-	-	-	-	-
Current Portion of Long-Term Debt	1B	1.5B	1.1B	1.56B	1.12B
Unearned Revenue Current, Total	362M	301M	287M	252M	2.96B
Other Current Liabilities	4.93B	5.26B	5.09B	4.68B	4.64B
Total Current Liabilities	8.17B	9.06B	8.58B	8.62B	11.32B
Long-Term Debt	27.04B	27.97B	26.94B	25.12B	25.11B
Unearned Revenue Non Current	-	-	-	2.7B	-
Pension & Other Post Retirement Benefits	2.27B	2.5B	1.64B	1.22B	1.21B
Deferred Tax Liability Non Current	5.08B	4.53B	3.69B	2.9B	2.8B
Other Non Current Liabilities	345M	381M	283M	324M	1.62B
Total Liabilities	42.91B	44.45B	41.13B	40.88B	42.06B
Common Stock, Total	935M	935M	935M	935M	935M
Additional Paid In Capital	5.97B	5.91B	5.86B	5.89B	5.91B
Retained Earnings	36.54B	34.68B	30.66B	29.79B	31.09B
Treasury Stock	-34.36B	-34.34B	-36.01B	-37.82B	-38.8B
Comprehensive Income and Other	-2.86B	-4.34B	-3.06B	-2.77B	-2.67B
Total Common Equity	6.22B	2.84B	-1.61B	-3.97B	-3.54B
Minority Interest	135M	126M	-	50M	50M
Total Equity	6.36B	2.96B	-1.61B	-3.92B	-3.49B
Total Liabilities And Equity	49.27B	47.41B	39.52B	36.95B	38.57B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	1.86B	1.86B	1.82B	1.79B	1.76B
ECS Total Common Shares Outstanding	1.86B	1.86B	1.82B	1.79B	1.76B
Book Value / Share	3.35	1.53	-0.88	-2.23	-2.01
Tangible Book Value	-11.64B	-14.95B	-19.09B	-21.53B	-24.02B
Tangible Book Value Per Share	-6.27	-8.05	-10.47	-12.06	-13.62
Total Debt	28.04B	29.47B	28.04B	26.68B	26.23B
Net Debt	25.92B	24.53B	23.5B	22.65B	22.55B
Debt Equivalent of Unfunded Proj. Benefit Obligation	492M	554M	-249M	-311M	-347M
Debt Equivalent Oper. Leases	-	-	-	-	-
Minority Interest, Total (Incl. Fin. Div)	135M	126M	-	50M	50M
Equity Method Investments, Total	23.58B	19.53B	11.76B	9.35B	10.01B
Account Code - Inventory Valuation	4	4	4	4	4
LIFO Reserve, Total	-600M	-600M	-600M	-700M	-700M
Inventories - Raw Materials, Total	1.07B	1.04B	910M	890M	853M
Inventories - Work In Process, Total	696M	502M	23M	24M	22M
Inventories - Finished Goods, Total	531M	420M	261M	266M	340M
Land - (BS)	353M	348M	123M	123M	123M
Buildings, Total	1.46B	1.48B	1.42B	1.48B	1.54B
Machinery, Total	3B	3.01B	2.65B	2.58B	2.68B
Full Time Employees	7.3K	7.1K	6K	6.3K	6.4K

Fiscal Period: December	2019	2020	2021	2022	2023
Net Income	-1.29B	4.47B	2.48B	5.76B	8.13B
Depreciation & Amortization - CF	182M	185M	172M	153M	144M
Amortization of Goodwill and Intangible Assets - (CF)	44M	72M	72M	73M	128M
Depreciation & Amortization, Total	226M	257M	244M	226M	272M
(Gain) Loss on Sale of Investments - (CF)	8.6B	2.6B	-	-	-
Asset Writedown & Restructuring Costs	41M	-51M	-	-	-
(Income) Loss On Equity Investments - (CF)	-1.72B	111M	5.98B	3.64B	-243M
Other Operating Activities, Total	2.04B	752M	-296M	-789M	1.18B
Change In Accounts Receivable	-8M	20M	-18M	-21M	6M
Change In Inventories	42M	2M	57M	14M	-15M
Change In Accounts Payable	-79M	53M	163M	92M	38M
Change In Income Taxes	89M	-29M	-149M	-118M	6M
Change in Other Net Operating Assets	-97M	203M	-50M	-553M	-82M
Cash from Operations	7.84B	8.38B	8.4B	8.26B	9.29B
Capital Expenditure	-246M	-231M	-169M	-205M	-196M
Cash Acquisitions	-421M	-	-	-	-2.75B
Divestitures	-	-	1.18B	-	-
Sale (Purchase) of Intangible assets	-	-	-	1B	1.7B
Investment in Marketable and Equity Securities, Total	-1.9B	-	-	-	-
Net (Increase) Decrease in Loans Originated / Sold - Investing	-	-	-	-	-
Other Investing Activities, Total	173M	88M	205M	-13M	-36M
Cash from Investing	-2.4B	-143M	1.21B	782M	-1.28B
Short Term Debt Issued, Total	-	3B	-	-	2B
Long-Term Debt Issued, Total	16.26B	1.99B	5.47B	-	998M
Total Debt Issued	16.26B	4.99B	5.47B	-	3B
Short Term Debt Repaid, Total	-12.8B	-3B	-	-	-2B
Long-Term Debt Repaid, Total	-1.14B	-1B	-6.54B	-1.1B	-1.57B
Total Debt Repaid	-13.94B	-4B	-6.54B	-1.1B	-3.57B
Repurchase of Common Stock	-845M	-	-1.68B	-1.82B	-1B
Common Dividends Paid	-6.07B	-6.29B	-6.45B	-6.6B	-6.78B
Common & Preferred Stock Dividends Paid	-6.07B	-6.29B	-6.45B	-6.6B	-6.78B
Other Financing Activities, Total	-119M	-99M	-838M	-12M	-27M
Cash from Financing	-4.71B	-5.4B	-10.03B	-9.54B	-8.37B
Net Change in Cash	727M	2.85B	-412M	-503M	-370M
Supplemental Items
Cash Interest Paid	1.1B	1.25B	1.19B	1.12B	1.12B
Cash Income Tax Paid (Refund)	1.98B	2.62B	2.67B	2.66B	1.89B
Levered Free Cash Flow	6.07B	7.45B	7.44B	5.99B	13.17B
Unlevered Free Cash Flow	6.86B	8.24B	8.18B	6.69B	13.89B
Change In Net Working Capital	-88M	-924M	-544M	2.06B	-4.43B
Net Debt Issued / Repaid	2.32B	993M	-1.07B	-1.1B	-568M

Fiscal Period: December	2019	2020	2021	2022	2023
Profitability
Return on Assets	12.9	15	17.3	20.11	20.19
Return on Total Capital	18.02	21.7	25.54	31.26	33.51
Return On Equity %	-12.25	95.56	364.24	-208.5	-219.34
Return on Common Equity	-12.38	98.42	399.68	-206.17	-215.97
Margin Analysis
Gross Profit Margin %	64.22	64.72	66.03	68.56	69.53
SG&A Margin	9.61	9.06	9.04	9.1	10.04
EBITDA Margin %	55.75	56.89	58.14	60.55	60.82
EBITA Margin %	54.83	56	57.33	59.81	60.12
EBIT Margin %	54.61	55.66	56.99	59.46	59.49
Income From Continuing Operations Margin %	-6.56	21.37	11.72	27.86	39.65
Net Income Margin %	-6.53	21.43	11.72	27.86	39.65
Net Avail. For Common Margin %	-6.57	21.4	11.67	27.8	39.57
Normalized Net Income Margin	35.88	30.9	14.5	22.98	34.94
Levered Free Cash Flow Margin	30.66	35.74	35.23	28.96	64.26
Unlevered Free Cash Flow Margin	34.63	39.51	38.74	32.36	67.73
Asset Turnover
Asset Turnover	0.38	0.43	0.49	0.54	0.54
Fixed Assets Turnover	10.06	10.39	11.84	13.09	12.58
Receivables Turnover (Average Receivables)