MO vs PM
Altria Group, Inc. and Philip Morris International Inc., side by side — 10 fiscal years reported in USD, drawn from SEC filings.
Most recent reported year
| Metric | MO | PM |
|---|---|---|
| Revenue | $23.3B | $40.6B |
| Net income | $6.9B | $11.3B |
| Gross margin | 62.5% | 67.1% |
| Net margin | 29.8% | 29.1% |
| Return on equity | · | · |
| Diluted EPS | $4.12 | $7.26 |
| Dividend / share | $4.16 | $5.64 |
| Payout ratio | 100.2% | 76.0% |
| Free cash flow | $9.1B | $10.7B |
| Equity | $-3.5B | $-10.0B |
| Net debt / equity | · | · |
| Current ratio | 0.65× | 0.96× |
| Revenue CAGR 5y | −2.3% | 7.2% |
| Profit CAGR 5y | 9.2% | 7.1% |
PM bills 1.7× the revenue of MO, and MO keeps more of each dollar of revenue as profit (29.8% against 29.1%).
The stronger figure of the pair is set in bold. That is arithmetic, not a recommendation — this page does not pick a winner. "·" marks a figure not available in our data.
10 years side by side
| Fiscal year | MO | PM |
|---|---|---|
| FY2025 | $23.3B | $40.6B |
| FY2024 | $24.0B | $37.9B |
| FY2023 | $24.5B | $35.2B |
| FY2022 | $25.1B | $31.8B |
| FY2021 | $26.0B | $31.4B |
| FY2020 | $26.2B | $28.7B |
| FY2019 | $25.1B | $29.8B |
| FY2018 | $25.4B | $29.6B |
| FY2017 | $25.6B | $28.7B |
| FY2016 | $25.7B | $26.7B |
Bottom line
| Fiscal year | MO | PM |
|---|---|---|
| FY2025 | $6.9B | $11.3B |
| FY2024 | $11.3B | $7.1B |
| FY2023 | $8.1B | $7.8B |
| FY2022 | $5.8B | $9.0B |
| FY2021 | $2.5B | $9.1B |
| FY2020 | $4.5B | $8.1B |
| FY2019 | $-1.3B | $7.2B |
| FY2018 | $7.0B | $7.9B |
| FY2017 | $10.2B | $6.0B |
| FY2016 | $14.2B | $7.0B |
19 fiscal years
| Fiscal year | Difference | Ahead |
|---|---|---|
| FY2025 | −$17,369,000,000 | PM |
| FY2024 | −$13,860,000,000 | PM |
| FY2023 | −$10,691,000,000 | PM |
| FY2022 | −$6,666,000,000 | PM |
| FY2021 | −$5,392,000,000 | PM |
| FY2020 | −$2,541,000,000 | PM |
| FY2019 | −$4,695,000,000 | PM |
| FY2018 | −$4,261,000,000 | PM |
| FY2017 | −$3,172,000,000 | PM |
| FY2016 | −$941,000,000 | PM |
| FY2015 | −$48,474,000,000 | PM |
| FY2014 | −$55,584,000,000 | PM |
| FY2013 | −$55,563,000,000 | PM |
| FY2012 | −$52,775,000,000 | PM |
| FY2011 | −$52,546,000,000 | PM |
| FY2010 | −$43,350,000,000 | PM |
| FY2009 | −$38,524,000,000 | PM |
| FY2008 | −$44,284,000,000 | PM |
| FY2007 | −$36,579,000,000 | PM |
PM has reported the higher revenue in every one of these 19 fiscal years. The gap has narrowed since the earliest year compared.
19 of 19 comparable fiscal years — a year missing data on either side is not counted.
19 fiscal years
| Fiscal year | Difference | Ahead |
|---|---|---|
| FY2025 | +0.7 pp | MO |
| FY2024 | +27.1 pp | MO |
| FY2023 | +9.7 pp | MO |
| FY2022 | −7.0 pp | PM |
| FY2021 | −21.4 pp | PM |
| FY2020 | −12.9 pp | PM |
| FY2019 | −31.1 pp | PM |
| FY2018 | −0.5 pp | PM |
| FY2017 | +17.9 pp | MO |
| FY2016 | +28.2 pp | MO |
| FY2015 | +1.6 pp | MO |
| FY2014 | +2.5 pp | MO |
| FY2013 | −2.7 pp | PM |
| FY2012 | −5.3 pp | PM |
| FY2011 | −8.1 pp | PM |
| FY2010 | −4.4 pp | PM |
| FY2009 | −7.1 pp | PM |
| FY2008 | +3.5 pp | MO |
| FY2007 | +39.0 pp | MO |
The higher net margin has changed hands between MO and PM over this period.
19 of 19 comparable fiscal years — a year missing data on either side is not counted.
Standard deviation, each side
MO's net margin has been more volatile than PM's over the 19 comparable fiscal years — 15.5 percentage points of standard deviation against 2.7.
19 of 19 comparable fiscal years — a year missing data on either side is not counted.
Year by year
The lead in net margin changed hands between MO and PM over these 19 fiscal years — MO led in 9 and PM in 10.
19 of 19 comparable fiscal years — a year missing data on either side is not counted.
Standard deviation, each side
PM's return on equity has been more volatile than MO's over the 5 comparable fiscal years — 154.5 percentage points of standard deviation against 19.0.
5 of 14 comparable fiscal years — a year missing data on either side is not counted.
Year by year
The lead in return on equity changed hands between MO and PM over these 5 fiscal years — MO led in 1 and PM in 4.
5 of 14 comparable fiscal years — a year missing data on either side is not counted.