Question 1

What is Philip Morris International's P/B ratio?

Accepted Answer

Philip Morris International (PM) P/B ratio is currently not available. A negative or zero P/B occurs when accumulated losses, large buybacks, or special dividends have driven shareholders' equity below zero. In that case P/B is reported as N/A and analysts use P/S or EV/EBITDA as substitutes.

Question 2

How is the P/B ratio calculated?

Accepted Answer

P/B = Market Capitalisation ÷ Book Value of Equity (most recent quarterly shareholders' equity), or equivalently Share Price ÷ Book Value Per Share. All inputs are sourced from audited GAAP/IFRS filings and translated to USD using period-end exchange rates so the multiple is comparable across companies and currencies.

Question 3

What is the P/B ratio?

Accepted Answer

The price-to-book (P/B) ratio compares a company's market capitalisation to its book value of equity (total shareholders' equity) on the most recent quarterly balance sheet. It is calculated as market cap ÷ book value of equity (equivalent to share price ÷ book value per share). A P/B below 1× implies the market values the business below its accounting net worth; values well above 1× reflect intangible assets, brand value, or a high return on equity.

Question 4

What is a good P/B ratio for Philip Morris International?

Accepted Answer

A "good" P/B depends on the business model. Banks, insurers, and other capital-heavy financials typically trade near 1×; asset-light technology and consumer-brand companies can sustainably trade at 5×+ because much of their value is intangible. P/B is most informative when paired with return on equity (ROE). For Philip Morris International specifically, the relevant sector benchmark is the current sector median of 3.4×.

Question 5

What is Philip Morris International's historical P/B ratio range?

Accepted Answer

In the available daily series, Philip Morris International (PM) P/B ratio has ranged from a low of 6.7× in 2007 to a high of 1360.0× in 2012.

Question 6

What was Philip Morris International's P/B ratio in 2011?

Accepted Answer

Philip Morris International (PM) P/B ratio at the end of 2011 was 591.5×. Annual values reflect the multiple on the last trading day of each calendar year, using the trailing twelve-month book value figure available at that date.

Question 7

Why does Philip Morris International's P/B ratio change over time?

Accepted Answer

Valuation multiples move with two inputs: the numerator (market capitalisation, which tracks the share price) and the denominator (book value). Share-price changes — driven by interest rates, earnings expectations, risk appetite, and broader market sentiment — typically dominate short-term moves, while changes in the underlying fundamental drive the longer-term trend. As a result, the ratio can rise during stock-price rallies even if the business itself has not become more valuable, and fall during sell-offs even when fundamentals are improving.

Question 8

Why is Philip Morris International's P/B ratio not available?

Accepted Answer

A negative or zero P/B occurs when accumulated losses, large buybacks, or special dividends have driven shareholders' equity below zero. In that case P/B is reported as N/A and analysts use P/S or EV/EBITDA as substitutes.


2025	$249.74B	−$9.99B	—	—	Dec 31, 2025
2024	$187.02B	−$11.75B	—	—	Dec 31, 2024
2023	$146.01B	−$11.22B	—	—	Dec 31, 2023
2022	$156.88B	−$8.96B	—	—	Dec 31, 2022
2021	$147.82B	−$10.11B	—	—	Dec 31, 2021
2020	$128.90B	−$12.57B	—	—	Dec 31, 2020
2019	$132.40B	−$11.58B	—	—	Dec 31, 2019
2018	$103.81B	−$12.46B	—	—	Dec 31, 2018
2017	$164.07B	−$12.09B	—	—	Dec 31, 2017
2016	$141.90B	−$12.69B	—	—	Dec 31, 2016
2015	$136.17B	−$13.24B	—	—	Dec 31, 2015
2014	$126.33B	−$12.63B	—	—	Dec 31, 2014
2013	$139.23B	−$7.77B	—	—	Dec 31, 2013
2012	$139.26B	−$3.48B	—	—	Dec 31, 2012
2011	$135.45B	$229.00M	591.5×	+560.8×	Dec 31, 2011
2010	$107.64B	$3.51B	30.7×	+14.3×	Dec 31, 2010
2009	$93.63B	$5.72B	16.4×	+4.4×	Dec 31, 2009
2008	$89.98B	$7.50B	12.0×	+5.3×	Dec 31, 2008
2007	$103.77B	$15.40B	6.7×	-0.6×	Dec 31, 2007
2006	$104.18B	$14.27B	7.3×	—	Dec 31, 2006


Coca-Cola Europacific Partners (CCEP)	4.4×
Marzetti (MZTI)	3.6×
Lamb Weston (LW)	3.6×
Target (TGT)	3.6×
Constellation Brands (STZ)	3.4×
Tootsie Roll Industries (TR)	3.4×
Kenvue (KVUE)	3.1×
Brown-Forman (BF-B)	2.9×
Mondelez International (MDLZ)	2.9×
Dollar General (DG)	2.9×
Performance Food Group (PFGC)	2.7×
McCormick & Company (MKC)	2.7×
General Mills (GIS)	2.6×
J. M. Smucker (SJM)	2.1×
Campbell Soup (CPB)	2.0×
Andersons (ANDE)	1.9×
Archer-Daniels-Midland (ADM)	1.5×
Bunge Global S.A. (BG)	1.5×
Hormel Foods (HRL)	1.5×
Keurig Dr Pepper (KDP)	1.4×
Tyson Foods (TSN)	1.2×
Conagra Brands (CAG)	1.1×
Universal Corporation (UVV)	0.9×
Molson Coors Beverage (TAP)	0.8×
Kraft Heinz (KHC)	0.6×

P/B Ratio for Philip Morris International (PM)

P/B Ratio daily chart for Philip Morris International (PM)

Historical P/B Ratio for Philip Morris International (PM) from 2006 to 2025

About P/B Ratio at Philip Morris International (PM)

Philip Morris International P/B Ratio by Year

Philip Morris International P/B Ratio 2011: 591.5×

Philip Morris International P/B Ratio 2010: 30.7×

Philip Morris International P/B Ratio 2009: 16.4×

Philip Morris International P/B Ratio 2008: 12.0×

Philip Morris International P/B Ratio 2007: 6.7×

Sector peers by P/B Ratio — chart

Sector peers by P/B Ratio — table

Frequently asked questions

Philip Morris International (PM) Key Financials

P/B Ratio daily chart for Philip Morris International (PM)

Historical P/B Ratio for Philip Morris International (PM) from 2006 to 2025

About P/B Ratio at Philip Morris International (PM)

Philip Morris International P/B Ratio by Year

Philip Morris International P/B Ratio 2011: 591.5×

Philip Morris International P/B Ratio 2010: 30.7×

Philip Morris International P/B Ratio 2009: 16.4×

Philip Morris International P/B Ratio 2008: 12.0×

Philip Morris International P/B Ratio 2007: 6.7×

Sector peers by P/B Ratio — chart

Sector peers by P/B Ratio — table

Frequently asked questions

+What is Philip Morris International's P/B ratio?

+How is the P/B ratio calculated?

+What is the P/B ratio?

+What is a good P/B ratio for Philip Morris International?

+What is Philip Morris International's historical P/B ratio range?

+What was Philip Morris International's P/B ratio in 2011?

+Why does Philip Morris International's P/B ratio change over time?

+Why is Philip Morris International's P/B ratio not available?

Philip Morris International (PM) Key Financials