Philip Morris International Inc.
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Income Statement
| Metric | Q1 2026 | Q1 2025 | YoY |
|---|---|---|---|
| Revenue | 10,146 | 9,301 | +9.1% |
Show Product Lines breakouts |
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| Combustible Tobacco Products | 5,767 | 5,407 | +6.7% |
| Combustible Tobacco Products · International Combustibles | 5,688 | 5,326 | +6.8% |
| Combustible Tobacco Products · U.S. | 79 | 81 | -2.5% |
| Smoke-Free Products | 4,379 | 3,895 | +12.4% |
| Smoke-Free Products · International Smoke-Free | 3,836 | 3,076 | +24.7% |
| Smoke-Free Products · U.S. | 543 | 818 | -33.6% |
| Smoke-Free Products · U.S. | 62 | 51 | +21.6% |
Show Business Segments breakouts |
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| International Combustibles | 5,688 | 5,326 | +6.8% |
| International Smoke-Free | 3,836 | 3,076 | +24.7% |
| U.S. | 622 | 899 | -30.8% |
Show Counterparty Name breakouts |
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| Megapolis Group · Related Party | 704 | 549 | +28.2% |
| Other · Related Party | 481 | 388 | +24.0% |
Show Related Party Transactions By Related Party breakouts |
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| Related Party | 1,185 | 937 | +26.5% |
| Cost of Revenue | 3,241 | 3,031 | +6.9% |
Show Business Segments breakouts |
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| International Combustibles | 1,847 | 1,827 | +1.1% |
| International Smoke-Free | 1,152 | 990 | +16.4% |
| U.S. | 242 | 215 | +12.6% |
| Gross Profit | 6,905 | 6,270 | +10.1% |
Show Business Segments breakouts |
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| International Combustibles | 3,842 | 3,499 | +9.8% |
| International Smoke-Free | 2,684 | 2,087 | +28.6% |
| U.S. | 380 | 685 | -44.5% |
| Marketing Administration And Research Costs | 2,857 | 2,428 | +17.7% |
| Corporate Expenses And Other | 155 | 298 | -48.0% |
| Operating Income | 3,893 | 3,544 | +9.8% |
| Interest Income Expense Nonoperating Net | 237 | 241 | -1.7% |
| Net Periodic Defined Benefits Expense Reversal Of Expense Excluding Service Cost Component | -5 | 12 | -141.7% |
Show Retirement Plan Type breakouts |
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| Pension Plans Defined Benefit | -41 | -20 | -105.0% |
| Postemployment Benefit Plans | 32 | 29 | +10.3% |
| Postretirement Benefit Costs | 4 | 3 | +33.3% |
| Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments | 3,661 | 3,291 | +11.2% |
| Income Tax Expense (Benefit) | 676 | 659 | +2.6% |
Show Business Acquisition breakouts |
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| Swedish Match AB | 75 | -93 | +180.6% |
| Income Loss From Equity Method Investments | 403 | -205 | +296.6% |
| Net Income | 2,582 | 2,837 | -9.0% |
Show Equity Components breakouts |
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| Noncontrolling Interest | 144 | 147 | -2.0% |
| Retained Earnings | 2,438 | 2,690 | -9.4% |
| Net Income Loss Attributable To Noncontrolling Interest | 144 | 147 | -2.0% |
| Net Income | 2,438 | 2,690 | -9.4% |
| EPS (Basic) | 1.56 | 1.72 | -9.3% |
| EPS (Diluted) | 1.56 | 1.72 | -9.3% |
| Comprehensive Income | 2,946 | 2,887 | +2.0% |
| Wtd Avg Shares (Basic) | 1,558 | 1,556 | +0.1% |
| Wtd Avg Shares (Diluted) | 1,559 | 1,557 | +0.1% |
| Other Comprehensive Income Loss Cash Flow Hedge Gain Loss Before Reclassification After Tax | 94 | -122 | +177.0% |
| Net Income Loss Available To Common Stockholders Basic | 2,431 | 2,682 | -9.4% |
Balance Sheet
| Metric | Q1 2026 | Q1 2025 | YoY |
|---|---|---|---|
| Current Assets | |||
| Cash & Cash Equivalents | 5,450 | 4,443 | +22.7% |
| Accounts Receivable | 5,120 | 4,880 | +4.9% |
Show Counterparty Name breakouts |
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| Megapolis Group · Related Party | 636 | 562 | +13.2% |
| Other · Related Party | 360 | 329 | +9.4% |
Show Related Party Transactions By Related Party breakouts |
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| Related Party | 996 | 891 | +11.8% |
| Other Receivables Net Current | 1,270 | 913 | +39.1% |
| Inventory | 11,392 | 10,127 | +12.5% |
| Other Assets Current | 2,370 | 1,833 | +29.3% |
| Total Current Assets | 25,602 | 22,196 | +15.3% |
| Non-Current Assets | |||
| Goodwill | 17,069 | — | — |
Show Business Segments breakouts |
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| International Combustibles | 4,772 | — | — |
| International Smoke-Free | 3,816 | — | — |
| U.S. | 8,481 | — | — |
| Long Term Investments | 2,478 | 2,972 | -16.6% |
| Deferred Tax Assets | 1,197 | 1,287 | -7.0% |
| Other Non-Current Assets | 3,796 | — | — |
Show Counterparty Name breakouts |
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| Other · Related Party | 82 | — | — |
Show Related Party Transactions By Related Party breakouts |
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| Related Party | 82 | — | — |
| Total Assets | 68,913 | 65,079 | +5.9% |
| Intangible Assets | 5,801 | — | — |
Show Finite Lived Intangible Assets By Major Class breakouts |
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| Contractual Rights | 1,712 | — | — |
| Customer relationships and other | 2,711 | — | — |
| Developed Technology Rights | 186 | — | — |
| Trademarks | 1,192 | — | — |
| Other Assets | |||
| Inventory Leaf Tobacco | 2,565 | 2,166 | +18.4% |
| Inventory Raw Materials Net Of Reserves | 2,473 | 2,631 | -6.0% |
| Inventory Finished Goods Net Of Reserves | 6,354 | 5,330 | +19.2% |
| Property Plant And Equipment And Finance Lease Right Of Use Asset Before Accumulated Depreciation And Amortization | 19,452 | 17,428 | +11.6% |
| Property Plant And Equipment And Finance Lease Right Of Use Asset Accumulated Depreciation And Amortization | 11,193 | 9,896 | +13.1% |
| Property Plant And Equipment And Finance Lease Right Of Use Asset After Accumulated Depreciation And Amortization | 8,259 | 7,532 | +9.7% |
| Intangible Assets Net Excluding Goodwill | 10,512 | — | — |
| Current Liabilities | |||
| Long Term Debt And Capital Lease Obligations Current | 2,447 | 6,360 | -61.5% |
| Accounts Payable | 3,927 | 3,749 | +4.7% |
Show Counterparty Name breakouts |
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| Other · Related Party | 43 | 83 | -48.2% |
Show Related Party Transactions By Related Party breakouts |
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| Related Party | 43 | 83 | -48.2% |
| Accrued Marketing Costs Current | 1,298 | 949 | +36.8% |
| Sales And Excise Tax Payable Current | 5,105 | 5,640 | -9.5% |
| Employee Related Liabilities Current | 1,227 | 1,016 | +20.8% |
| Dividends Payable Current | 2,313 | 2,121 | +9.1% |
| Other Accrued Liabilities Current | 3,121 | 2,491 | +25.3% |
| Accrued Income Taxes Current | 1,091 | 1,323 | -17.5% |
| Total Current Liabilities | 26,222 | 28,087 | -6.6% |
| Non-Current Liabilities | |||
| Deferred Tax Liabilities | 2,013 | 2,817 | -28.5% |
| Pension And Other Postretirement And Postemployment Benefit Plans Liabilities Noncurrent | 2,340 | 2,991 | -21.8% |
| Other Non-Current Liabilities | 1,830 | 1,329 | +37.7% |
| Total Liabilities | 76,213 | 74,005 | +3.0% |
| Other Liabilities | |||
| Short Term Borrowings | 5,693 | 4,438 | +28.3% |
Show Short Term Debt Type breakouts |
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| Bank Loan Obligations | 216 | 269 | -19.7% |
| Commercial Paper | 5,477 | 4,169 | +31.4% |
| Long Term Debt And Capital Lease Obligations | 43,808 | 38,781 | +13.0% |
| Stockholders' Equity | |||
| Additional Paid In Capital Common Stock | 2,433 | 2,326 | +4.6% |
| Retained Earnings | 35,538 | 33,447 | +6.3% |
| Accumulated Other Comprehensive Income | -11,788 | -11,117 | -6.0% |
| Stockholders Equity Before Treasury Stock | 26,183 | 24,656 | +6.2% |
| Treasury Stock Value | 35,462 | 35,557 | -0.3% |
| Total Stockholders' Equity | -9,279 | -10,901 | +14.9% |
| Minority Interest | 1,979 | 1,975 | +0.2% |
| Stockholders Equity Including Portion Attributable To Noncontrolling Interest | -7,300 | -8,926 | +18.2% |
Show Equity Components breakouts |
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| Accumulated Defined Benefit Plans Adjustment | -1,380 | -2,415 | +42.9% |
| Accumulated Gain Loss Net Cash Flow Hedge Parent | 346 | 324 | +6.8% |
| Accumulated Other Comprehensive Income | -11,788 | -11,117 | -6.0% |
| Accumulated Translation Adjustment | -10,754 | -9,026 | -19.1% |
| Additional Paid In Capital | 2,433 | 2,326 | +4.6% |
| Noncontrolling Interest | 1,979 | 1,975 | +0.2% |
| Retained Earnings | 35,538 | 33,447 | +6.3% |
| Treasury Stock Common | -35,462 | -35,557 | +0.3% |
| Total Liabilities & Equity | 68,913 | 65,079 | +5.9% |
Cash Flow Statement
| Metric | YTD Q1 2026 | YTD Q1 2025 | YoY |
|---|---|---|---|
| Operating Activities | |||
| Depreciation Amortization And Impairment | 510 | 480 | +6.2% |
| Deferred Income Taxes | -67 | -67 | 0.0% |
| Restructuring Costs And Asset Impairment Charges | -3 | -1 | -200.0% |
| Increase Decrease In Receivables | -640 | -882 | +27.4% |
| Change in Inventory | -11 | -325 | +96.6% |
| Change in Accounts Payable | -317 | -127 | -149.6% |
| Increase Decrease In Accrued Liabilities And Other Current Assets | -2,734 | -2,437 | -12.2% |
| Increase Decrease In Accrued Income Taxes Payable | -171 | -20 | -755.0% |
| Defined Benefit Plan Plan Assets Pension Plan Contributions Net Of Refunds | -30 | -37 | +18.9% |
| Increase Decrease In Other Operating Capital Net | 482 | 229 | +110.5% |
| Net Cash from Operations | -399 | -350 | -14.0% |
| Depreciation & Amortization | 510 | 480 | +6.2% |
Show Business Segments breakouts |
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| International Combustibles · Operating Segments | 67 | 71 | -5.6% |
| International Smoke-Free · Operating Segments | 90 | 78 | +15.4% |
| U.S. · Operating Segments | 27 | 23 | +17.4% |
Show Consolidation Items breakouts |
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| Corporate And Reconciling Items | 326 | 308 | +5.8% |
| Operating Segments | 184 | 172 | +7.0% |
| Investing Activities | |||
| Capital Expenditures | -353 | -404 | +12.6% |
| Purchases of Investments | -5 | -58 | +91.4% |
| Proceeds From Sale And Maturity Of Available For Sale Securities | 95 | 24 | +295.8% |
| Payments To Acquire Equity Method Investments | -35 | -10 | -250.0% |
| Collateral For Derivatives Paid Returned Investing Activities | 314 | 6 | +5133.3% |
| Other Investing Activities | -19 | 8 | -337.5% |
| Net Cash from Investing | -3 | -434 | +99.3% |
| Financing Activities | |||
| Proceeds From Repayments Of Short Term Debt Maturing In Three Months Or Less | 4,530 | 4,231 | +7.1% |
| Proceeds From Short Term Debt Maturing In More Than Three Months | 993 | 70 | +1318.6% |
| Repayments Of Long Term Debt | -2,142 | -822 | -160.6% |
| Payments Of Dividends | -2,307 | -2,116 | -9.0% |
| Collateral For Derivatives Received Returned Financing Activities | 138 | -606 | +122.8% |
| Proceeds From Payments For Other Financing Activities | -116 | -86 | -34.9% |
| Net Cash from Financing | 1,096 | 671 | +63.3% |
| Other Cash Flow | |||
| Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents | -116 | 335 | -134.6% |
| Net Change in Cash | 578 | 222 | +160.4% |
| Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents | 5,470 | 4,476 | +22.2% |
Values in millions USD. Source: SEC EDGAR 10-Q filing.