Company Valuation: Philip Morris International, Inc.

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 147,899 156,896 146,050 187,124 249,685 281,741 - -
Change - 6.08% -6.91% 28.12% 33.43% 12.84% - -
Enterprise Value (EV) 1 171,209 196,812 190,899 228,603 293,648 322,791 320,589 318,607
Change - 14.95% -3% 19.75% 28.45% 9.92% -0.68% -0.62%
P/E 16.3x 17.4x 18.7x 26.6x 22.1x 22.9x 20.7x 18.6x
PBR -14.6x -17.5x -13x -15.9x -25x -43.2x -66.9x -42.4x
PEG - -50.72x -1.4x -2.67x 0.4x 2.62x 1.9x 1.7x
Capitalization / Revenue 4.71x 4.94x 4.15x 4.94x 6.14x 6.48x 6.1x 5.73x
EV / Revenue 5.45x 6.2x 5.43x 6.04x 7.22x 7.43x 6.94x 6.47x
EV / EBITDA 11.8x 14.3x 13.5x 14.7x 16.9x 16.9x 15.5x 14.6x
EV / EBIT 12.7x 15.2x 14.3x 15.6x 17.9x 18.2x 16.7x 15.6x
EV / FCF - - - - - - - -
FCF Yield - - - - - - - -
Dividend per Share 2 4.9 5.04 5.2 5.4 - 5.97 6.407 6.792
Rate of return 5.16% 4.98% 5.53% 4.49% - 3.3% 3.54% 3.76%
EPS 2 5.83 5.81 5.02 4.52 7.26 7.894 8.74 9.701
Distribution rate 84% 86.7% 104% 119% - 75.6% 73.3% 70%
Net sales 1 31,405 31,762 35,174 37,878 40,648 43,464 46,186 49,208
EBITDA 1 14,486 13,802 14,193 15,580 17,375 19,063 20,668 21,785
EBIT 1 13,488 12,908 13,337 14,688 16,428 17,707 19,157 20,403
Net income 1 9,109 9,048 7,813 7,057 11,348 12,322 13,606 15,062
Net Debt 1 23,310 39,916 44,849 41,479 43,963 41,050 38,848 36,866
Reference price 2 95.00 101.21 94.08 120.35 160.40 180.77 180.77 180.77
Nbr of stocks (in thousands) 1,556,828 1,550,202 1,552,406 1,554,833 1,556,639 1,558,559 - -
Announcement Date 10/02/22 09/02/23 08/02/24 06/02/25 06/02/26 - - -
1USD in Million2USD
Estimates

P/E, Detailed evolution

P/E (N) EV / Sales (N) EV / EBITDA (N) Dividend Yield (N) Capi.($)
13.94x5.06x10.51x5.29% 136B
10.3x3.01x6.92x6.01% 28.28B
26.16x1.82x16.62x1.89% 5.62B
60.01x - - 0.37% 1.69B
12.51x - - - 1.34B
Average 24.59x 3.30x 11.35x 3.39% 34.52B
Weighted average by Cap. 14.18x 4.61x 10.11x 5.25%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA

Year-on-year evolution of the Yield

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  5. Valuation Philip Morris International, Inc.