---
title: "Philip Morris: Metrics Guide"
description: "Philip Morris International revenue, margins, cash flow and balance sheet figures by fiscal year, taken from its SEC filings, with the ratios explained."
canonical: https://www.getswoopr.com/stocks/companies/philip-morris-international/metrics/
source: "Swoopr Investment: https://www.getswoopr.com"
---

# Philip Morris International: Financial & Operating Metrics Guide

## Direct Answer

Philip Morris International reported revenue of $40.6 billion for the fiscal year ended December 31, 2025, with an operating margin of 36.6% and net income of $11.3 billion, according to its SEC filings. Revenue grew 7.3% from the prior year.

## What Are Philip Morris International's Key Financial Figures?

| Fiscal year | FY2025ended December 31, 2025 | FY2024ended December 31, 2024 | FY2023ended December 31, 2023 | FY2022ended December 31, 2022 |
| --- | --- | --- | --- | --- |
| Revenue | $40.6 billion | $37.9 billion | $35.2 billion | $31.8 billion |
| Operating income | $14.9 billion | $13.4 billion | $11.6 billion | $12.2 billion |
| Operating margin | 36.6% | 35.4% | 32.9% | 38.6% |
| Net income | $11.3 billion | $7.1 billion | $7.8 billion | $9.0 billion |
| Net margin | 27.9% | 18.6% | 22.2% | 28.5% |
| Operating cash flow | $12.2 billion | $12.2 billion | $9.2 billion | $10.8 billion |
| Capital expenditures | $1.6 billion | $1.4 billion | $1.3 billion | $1.1 billion |
| Free cash flow | $10.7 billion | $10.8 billion | $7.9 billion | $9.7 billion |

Operating margin widened by 1.3 percentage points between fiscal 2024 and 2025, which separates pricing and cost discipline from revenue growth alone. Free cash flow (operating cash flow minus capital expenditures) was $10.7 billion against net income of $11.3 billion; cash generation fell short of reported earnings, which is worth reconciling in the cash flow statement.

![Bar chart of Philip Morris International revenue, operating income, net income for fiscal 2022 to 2025. In fiscal 2025, revenue was $40.6 billion, operating income $14.9 billion and net income $11.3 billion.](https://www.getswoopr.com/images/charts/philip-morris-international-metrics-revenue-profit.webp)
*Philip Morris International revenue, operating income and net income by fiscal year, from the figures in the table above. Select the chart to open it full size.*

![Line chart of Philip Morris International operating margin and net margin for fiscal 2022 to 2025. In fiscal 2025, operating margin was 36.6% and net margin was 27.9%.](https://www.getswoopr.com/images/charts/philip-morris-international-metrics-margins.webp)
*Philip Morris International operating margin and net margin by fiscal year: operating income and net income as a share of revenue. Select the chart to open it full size.*

![Bar chart of Philip Morris International operating cash flow, capital expenditures, free cash flow for fiscal 2022 to 2025. In fiscal 2025, operating cash flow was $12.2 billion, capital expenditures was $1.6 billion, free cash flow was $10.7 billion.](https://www.getswoopr.com/images/charts/philip-morris-international-metrics-cash-flow.webp)
*Philip Morris International operating cash flow, capital expenditures and free cash flow by fiscal year. Select the chart to open it full size.*

## What Does Philip Morris International's Balance Sheet Show?

| Cash and cash equivalents | $4.9 billion |
| --- | --- |
| Long-term debt | $45.1 billion |
| Total assets | $69.2 billion |
| Total liabilities | $77.2 billion |
| Shareholders' equity | -$10.0 billion |
| Current ratio | 1.0x |

Balance sheet values are as of the end of fiscal 2025. Income statement figures describe a whole year; balance sheet figures describe a single day, so the two answer different questions.

## Where These Numbers Come From

Every figure on this page is a value Philip Morris International reported in its own SEC filings, read from the SEC's XBRL data (accession 0001628280-26-005939 for fiscal year 2025). Ratios are computed from those reported values. Figures were retrieved on October 12, 2026; a later amendment or a new annual report can change them, and the filing itself always takes precedence over this summary.

Each fiscal year is labeled by the calendar year in which it ended, so a company that names the same period differently in its own filings (many retailers whose year ends in January) may use another label. A year is left out of the table when the SEC data set holds no value for it. A figure shown as "Not reported" means the company did not file a value under the standard tag Swoopr reads, not that the amount was zero. This page is educational and describes reported history only; it is not a forecast or a recommendation.

## Frequently Asked Questions

### What was Philip Morris International's revenue in fiscal 2025?

Philip Morris International reported revenue of $40.6 billion for the fiscal year ended December 31, 2025, according to its SEC filings.

### What is Philip Morris International's operating margin?

Philip Morris International's operating margin was 36.6% in fiscal 2025: operating income of $14.9 billion on revenue of $40.6 billion.

### How much free cash flow did Philip Morris International generate?

Operating cash flow of $12.2 billion less capital expenditures of $1.6 billion gives free cash flow of $10.7 billion for fiscal 2025.

## References

- [SEC EDGAR: Philip Morris International Inc. Form 10-K filed February 6, 2026](https://www.sec.gov/Archives/edgar/data/1413329/000162828026005939/pm-20251231.htm)
- [SEC EDGAR: Philip Morris International Inc. annual and quarterly filings](https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=1413329&type=10-K)
- [SEC: EDGAR application programming interfaces (XBRL frames and submissions data)](https://www.sec.gov/search-filings/edgar-application-programming-interfaces)

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**[Swoopr Editorial Team](https://www.getswoopr.com/authors/swoopr-editorial-team/)**

Swoopr's editorial team produces independent investment education content reviewed for accuracy and clarity. We do not provide personalized financial advice. See our [editorial policy](https://www.getswoopr.com/legal/editorial-policy/) and [corrections policy](https://www.getswoopr.com/legal/corrections-policy/).