Capital Expenditures for Philip Morris International (PM)
According to Philip Morris International's latest reported financial statements, the company's current capital expenditures (TTM) is $1.52B USD. Capital expenditures (CapEx) are cash outlays for property, plant, and equipment and other long-lived productive assets — reported on the cash flow statement under investing activities. CapEx funds future capacity (factories, data centers, software, machinery), so rising spend can signal investment in growth, while heavy CapEx reduces free cash flow available to shareholders. We display CapEx as a positive amount (the absolute cash outflow); compare with revenue to gauge capital intensity and with total assets for the asset-base context.
Headline TTM above sums the four reported quarters through (reported ). Chart and table below cover the full reported history back to .
Currently viewingCapital ExpendituresSwitch metric
Latest period
$1.52B
YoY change
+8.7%
5Y CAGR
+21.1%
Peak year (2025)
$1.57B
Cumulative capital expenditures
$22.84B
CapEx history chart for Philip Morris International (PM) from 2003 to 2025
CapEx history table for Philip Morris International (PM) from 2003 to 2025
| Fiscal year | Period ended | Reported | Capital Expenditures | YoY |
|---|---|---|---|---|
| 2025 | $1.57B | +8.7% | ||
| 2024 | $1.44B | +9.3% | ||
| 2023 | $1.32B | +22.7% | ||
| 2022 | $1.08B | +44.0% | ||
| 2021 | $748.00M | +24.3% | ||
| 2020 | $602.00M | -29.3% | ||
| 2019 | $852.00M | -40.7% | ||
| 2018 | $1.44B | -7.2% | ||
| 2017 | $1.55B | +32.1% | ||
| 2016 | $1.17B | +22.1% | ||
| 2015 | $960.00M | -16.7% | ||
| 2014 | $1.15B | -3.9% | ||
| 2013 | $1.20B | +13.6% | ||
| 2012 | $1.06B | +17.7% | ||
| 2011 | $897.00M | +25.8% | ||
| 2010 | $713.00M | -0.3% | ||
| 2009 | $715.00M | -34.9% | ||
| 2008 | $1.10B | +2.5% | ||
| 2007 | $1.07B | +21.0% | ||
| 2006 | $886.00M | +20.4% | ||
| 2005 | $736.00M | — | ||
| 2003 | $586.00M | — |
CapEx values are taken from Philip Morris International's reported cash flow statements (10-Q quarterly and 10-K annual filings with the U.S. Securities and Exchange Commission). Each row shows the period end date and the date the filing was reported; YoY compares each figure to the same period one year earlier. Amounts are in USD as filed.
Analysis
The 2025 reading of Philip Morris International (PM) capital expenditures is $1.57B – grew 8.7% year-over-year.
Through 2020–2025 (5 years), Philip Morris International capital expenditures delivered a +21.1% annualised rate; sustaining 5 straight years of year-over-year growth.
$1.57B stands as the all-time-high annual capital expenditures, posted in 2025, against a low of $586.00M during 2003.
Within Consumer Defensive, Philip Morris International (PM) ranks 6th among 8 peers we track. The peer median for capital expenditures is $2.94B.
Philip Morris International Capital Expenditures by Year
Philip Morris International Capital Expenditures 2025: $1.57B
Philip Morris International capital expenditures in 2025 was $1.57B, grew 8.7% from 2024. This figure represents the highest annual value in the available history.
Philip Morris International Capital Expenditures 2024: $1.44B
Philip Morris International capital expenditures in 2024 was $1.44B, grew 9.3% from 2023.
Philip Morris International Capital Expenditures 2023: $1.32B
Philip Morris International capital expenditures in 2023 was $1.32B, grew 22.7% from 2022.
Philip Morris International Capital Expenditures 2022: $1.08B
Philip Morris International capital expenditures in 2022 was $1.08B, surged 44.0% from 2021.
Philip Morris International Capital Expenditures 2021: $748.00M
Philip Morris International capital expenditures in 2021 was $748.00M.
See more financial history for Philip Morris International (PM).
Sector peers — CapEx
Companies in the same sector as Philip Morris International, ranked by their latest capital expenditures.
| Company | Capital Expenditures | Sector |
|---|---|---|
| Walmart Inc. (WMT) | $26.64B | Consumer Defensive |
| Costco Wholesale Corporation (COST) | $5.50B | Consumer Defensive |
| PepsiCo, Inc. (PEP) | $4.42B | Consumer Defensive |
| The Procter & Gamble Company (PG) | $3.77B | Consumer Defensive |
| The Coca-Cola Company (KO) | $2.11B | Consumer Defensive |
| Mondelez International, Inc. (MDLZ) | $1.28B | Consumer Defensive |
| Altria Group, Inc. (MO) | $216.00M | Consumer Defensive |
| Monster Beverage Corporation (MNST) | $132.28M | Consumer Defensive |
Frequently asked questions
What is Philip Morris International's capital expenditures?
- Latest reported capital expenditures for Philip Morris International (PM) is $1.52B (period ending March 31, 2026).
How has Philip Morris International capital expenditures changed year-over-year?
- Philip Morris International (PM) capital expenditures changed +8.7% year-over-year on the latest annual filing.
What is the long-term growth rate of Philip Morris International capital expenditures?
- Philip Morris International (PM) capital expenditures compound annual growth rate is +21.1% over the most recent 5 years available.
When did Philip Morris International capital expenditures hit its highest annual value?
- Philip Morris International capital expenditures reached its highest annual value of $1.57B in 2025.
What was Philip Morris International capital expenditures in 2024?
- Philip Morris International (PM) capital expenditures in 2024 was $1.44B.
What was Philip Morris International capital expenditures in 2025?
- Philip Morris International (PM) capital expenditures in 2025 was $1.57B.
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