TTM
36.8%
YoY change
+1.36pp
Trough year (2005)
17.1%
Peak year (2012)
44.4%
Latest annual
36.7%
Operating Margin history chart for Philip Morris International (PM) from 2001 to 2025
Latest: 36.7%
Operating Margin change chart for Philip Morris International (PM) from 2001 to 2025
Latest: +1.36pp
Operating Margin history table for Philip Morris International (PM) from 2001 to 2025
| 2025 | 36.7% | +1.36pp | ||
| 2024 | 35.4% | +2.53pp | ||
| 2023 | 32.9% | -5.70pp | ||
| 2022 | 38.6% | -2.75pp | ||
| 2021 | 41.3% | +0.46pp | ||
| 2020 | 40.8% | +5.51pp | ||
| 2019 | 35.3% | -2.93pp | ||
| 2018 | 38.3% | -2.00pp | ||
| 2017 | 40.3% | -0.59pp | ||
| 2016 | 40.9% | +1.21pp | ||
| 2015 | 39.6% | +0.33pp | ||
| 2014 | 39.3% | -4.58pp | ||
| 2013 | 43.9% | -0.55pp | ||
| 2012 | 44.4% | +0.92pp | ||
| 2011 | 43.5% | +2.36pp | ||
| 2010 | 41.2% | +0.37pp | ||
| 2009 | 40.8% | -0.33pp | ||
| 2008 | 41.1% | +2.20pp | ||
| 2007 | 38.9% | +0.38pp | ||
| 2006 | 38.5% | +21.46pp | ||
| 2005 | 17.1% | -21.46pp | ||
| 2004 | 38.5% | +19.98pp | ||
| 2003 | 18.6% | — | ||
| 2001 | 36.4% | — |
- 202536.7%+1.36pp
- 202435.4%+2.53pp
- 202332.9%-5.70pp
- 202238.6%-2.75pp
- 202141.3%+0.46pp
- 202040.8%+5.51pp
- 201935.3%-2.93pp
- 201838.3%-2.00pp
- 201740.3%-0.59pp
- 201640.9%+1.21pp
- 201539.6%+0.33pp
- 201439.3%-4.58pp
- 201343.9%-0.55pp
- 201244.4%+0.92pp
- 201143.5%+2.36pp
- 201041.2%+0.37pp
- 200940.8%-0.33pp
- 200841.1%+2.20pp
- 200738.9%+0.38pp
- 200638.5%+21.46pp
- 200517.1%-21.46pp
- 200438.5%+19.98pp
- 200318.6%—
- 200136.4%—
Operating 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 Operating Margin at Philip Morris International (PM)
According to Philip Morris International's latest reported financial statements, the company's latest reported operating margin is 36.8%. Operating margin is operating income divided by revenue — the share of each sales dollar left after cost of goods sold and operating expenses (SG&A, R&D), but before interest and taxes. It isolates how profitable the core business is before financing and tax decisions, so it is comparable across companies with different capital structures.
Headline figure above is from the reporting period ending (reported ). Chart and table below cover the full reported history back to .
In 2025, Philip Morris International (PM) operating margin totalled 36.74% – expanded 1.4 percentage points year-over-year.
44.45% stands as the all-time-high annual operating margin, posted in 2012, against a low of 17.08% during 2005.
Philip Morris International Operating Margin by Year
Philip Morris International Operating Margin 2025: 36.7%
2025's operating margin for Philip Morris International came in at 36.74%, expanded 1.4 percentage points from 2024.
Philip Morris International Operating Margin 2024: 35.4%
Philip Morris International posted operating margin of 35.38% in 2024, expanded 2.5 percentage points from 2023.
Philip Morris International Operating Margin 2023: 32.9%
In 2023, Philip Morris International reported operating margin of 32.85%, contracted 5.7 percentage points from 2022.
Philip Morris International Operating Margin 2022: 38.6%
Philip Morris International operating margin in 2022 was 38.56%, contracted 2.8 percentage points from 2021.
Philip Morris International Operating Margin 2021: 41.3%
Philip Morris International operating margin in 2021 was 41.31%.
See more financial history for Philip Morris International (PM).
Sector peers by Operating Margin
Consumer Defensive peers of Philip Morris International (PM), ranked by their latest operating margin
| 50.7% | |
| 29.3% | |
| 29.3% | |
| 23.2% | |
| 14.8% | |
| 9.6% | |
| 4.2% | |
| 3.8% |
- 50.7%
- 29.3%
- 14.8%
- 4.2%
- 3.8%
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