TTM
25.7%
YoY change
−2.21pp
Trough year (2005)
9.8%
Peak year (2021)
35.7%
Latest annual
26.2%
FCF Margin history chart for Philip Morris International (PM) from 2003 to 2025
Latest: 26.2%
FCF Margin change chart for Philip Morris International (PM) from 2003 to 2025
Latest: −2.21pp
FCF Margin history table for Philip Morris International (PM) from 2003 to 2025
| 2025 | 26.2% | -2.21pp | ||
| 2024 | 28.4% | +6.03pp | ||
| 2023 | 22.4% | -8.21pp | ||
| 2022 | 30.6% | -5.10pp | ||
| 2021 | 35.7% | +3.63pp | ||
| 2020 | 32.1% | +1.10pp | ||
| 2019 | 31.0% | +3.85pp | ||
| 2018 | 27.1% | +1.53pp | ||
| 2017 | 25.6% | -0.26pp | ||
| 2016 | 25.9% | +0.11pp | ||
| 2015 | 25.8% | +3.65pp | ||
| 2014 | 22.1% | -6.50pp | ||
| 2013 | 28.6% | +1.96pp | ||
| 2012 | 26.7% | -4.31pp | ||
| 2011 | 31.0% | -1.09pp | ||
| 2010 | 32.1% | +3.43pp | ||
| 2009 | 28.6% | +2.04pp | ||
| 2008 | 26.6% | +6.78pp | ||
| 2007 | 19.8% | -5.95pp | ||
| 2006 | 25.8% | +16.00pp | ||
| 2005 | 9.8% | — | ||
| 2003 | 12.1% | — |
- 202526.2%-2.21pp
- 202428.4%+6.03pp
- 202322.4%-8.21pp
- 202230.6%-5.10pp
- 202135.7%+3.63pp
- 202032.1%+1.10pp
- 201931.0%+3.85pp
- 201827.1%+1.53pp
- 201725.6%-0.26pp
- 201625.9%+0.11pp
- 201525.8%+3.65pp
- 201422.1%-6.50pp
- 201328.6%+1.96pp
- 201226.7%-4.31pp
- 201131.0%-1.09pp
- 201032.1%+3.43pp
- 200928.6%+2.04pp
- 200826.6%+6.78pp
- 200719.8%-5.95pp
- 200625.8%+16.00pp
- 20059.8%—
- 200312.1%—
FCF Margin values are taken from Philip Morris International's reported income statements (quarterly 10-Q and annual 10-K filings with the U.S. Securities and Exchange Commission). Each row shows the period end date and the filing date. YoY compares each figure to the same period one year earlier. Amounts are in USD as filed.
About FCF Margin at Philip Morris International (PM)
According to Philip Morris International's latest reported financial statements, the company's latest reported free cash flow margin is 25.7%. Free cash flow margin is free cash flow divided by revenue — the share of each sales dollar that converts into cash after capital expenditures. Because free cash flow cannot be inflated by non-cash accounting, FCF margin is a clean read on how efficiently a business turns revenue into deployable cash.
Headline figure above is from the reporting period ending (reported ). Chart and table below cover the full reported history back to .
2025's annual free cash flow margin for Philip Morris International (PM) came in at 26.23% – contracted 2.2 percentage points year-over-year.
Across the available history, free cash flow margin reached its high of 35.72% in 2021 and its low of 9.76% in 2005.
Philip Morris International FCF Margin by Year
Philip Morris International FCF Margin 2025: 26.2%
2025's free cash flow margin for Philip Morris International came in at 26.23%, contracted 2.2 percentage points from 2024.
Philip Morris International FCF Margin 2024: 28.4%
Philip Morris International posted free cash flow margin of 28.44% in 2024, expanded 6.0 percentage points from 2023.
Philip Morris International FCF Margin 2023: 22.4%
In 2023, Philip Morris International reported free cash flow margin of 22.41%, contracted 8.2 percentage points from 2022.
Philip Morris International FCF Margin 2022: 30.6%
Philip Morris International free cash flow margin in 2022 was 30.62%, contracted 5.1 percentage points from 2021.
Philip Morris International FCF Margin 2021: 35.7%
Philip Morris International free cash flow margin in 2021 was 35.72%.
See more financial history for Philip Morris International (PM).
Sector peers by FCF Margin
Consumer Defensive peers of Philip Morris International (PM), ranked by their latest free cash flow margin
| 39.5% | |
| 25.5% | |
| 23.6% | |
| 17.3% | |
| 9.3% | |
| 6.6% | |
| 3.0% | |
| 1.7% |
- 39.5%
- 25.5%
- 9.3%
- 3.0%
- 1.7%
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