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NYSE · CIGARETTES · LARGE CAP

Altria Group, Inc. MO

19 fiscal years on record · USD · FY2025 reported · SEC filings only
16 YEARS OF DIVIDEND GROWTH
$23.3B
▼ 3.1% YoY
$6.9B
▼ 38.3% YoY
$9.1B
▲ 5.4% YoY

Slide the table for earlier years · "·" marks a figure not available in our data for that year.

In brief

What this company does

Altria manufactures and sells tobacco products through its wholly owned subsidiaries, including cigarettes made and sold by Philip Morris USA, machine-made large cigars made and sold by John Middleton, moist smokeless tobacco products made and sold by U.S. Smokeless Tobacco Company, oral nicotine pouches made and sold by Helix Innovations, and e-vapor products made and sold by NJOY. At December 31, 2025, it employed approximately 5,900 people, twenty-six percent of whom were hourly manufacturing employees who were members of labor unions. At December 31, 2025, its reportable segments were smokeable products, oral tobacco products and e-vapor products. At December 31, 2025, it owned a 75% economic interest in Horizon Innovations LLC, a joint venture with JTI (US) Holding, Inc., which owned the remaining 25% economic interest. Its investments include Anheuser-Busch InBev SA/NV and Cronos Group Inc., which it accounts for under the equity method of accounting using a one-quarter lag.

Written from the business description in Altria Group, Inc.'s annual report to the U.S. Securities and Exchange Commission, filed 25 February 2026. Every sentence was checked against that document before publication.

Growth

USD 23.3B
Revenue, FY2025 · full 19-year series below
Revenue $B Net income $B
FY2025 · Revenue 23.3 · Net income 6.9
10B20B
2007201020132016201920222025
Compound annual growth
−2.5%
−2.3%
−0.9%
−0.3%
+6.4%
+9.2%
+2.9%
+8.9%
+11.4%
+4.4%
+5.4%
+4.2%
+4.1%
+6.7%
+7.2%
−1.9%
+4.8%
+5.3%
+6.8%
3 yrs
5 yrs
10 yrs
15 yrs

Revenue compounded at −2.3% a year over the five years to FY2025 — but profit grew faster: net income at +9.2%, earnings per share at +11.4%.

The share count fell from 1.86B to 1.67B — the buyback concentrates the same profit into fewer slices.

Compound annual rates per period — left blank where that exact year isn't on file, the series crosses a loss, or (per-share rows) a split falls inside the window.

Profitability

30 cents
of every revenue dollar became profit
Operating margin Net margin
FY2025 · Operating 42.5% · Net 29.8%
20%40%60%
200720162025
ROE
FY2020 · ROE 98.6%
50%100%150%
200720162025
Three returns, three denominators.
Return on equityNot applicable: equity was zero or negative in this period, so return on equity has no meaning.
Gross margin62.5%
Operating margin42.5%
Net margin29.8%
EBITDAUSD 10.2B

Return on equity has no reading this year — return on capital employed, just below, still does: 38%.

Cash & shareholders

USD 8.0B
returned in FY2025 · dividends + net buybacks
Free cash flow $B
FY2025 · FCF 9.1
4B8B
200720162025
Net buybacks $B Dividends $B
FY2025 · Dividends 7.0 · Net buybacks 1.0
5B10BDividendsNet buybacks
2007201020132016201920222025
Dividends paidUSD 7.0B
Net buybacksUSD 1.0B
Share of profit114.6%
Consecutive raises16 years

USD 7.0B in dividends and USD 1.0B in buybacks — 115% of the year's profit, so the payout drew on cash built up earlier.

Total assetsUSD 35.0B
EquityUSD -3.5B
CashUSD 4.5B
Gross debtUSD 25.7B
Net debtUSD 21.2B
Current ratio0.65×

Equity was zero or negative — liabilities equaled or exceeded assets. No ratio is shown.

The 19-year record

19 fiscal years
Every figure from documents filed with the SEC · USD
row low → row highnegative—not applicable◌not available in our data
MO, 19-year financial record
Metric 2025202420232022202120202019201820172016201520142013201220112010200920082007
Revenue $B23.324.024.525.126.026.225.125.425.625.725.424.524.524.623.824.423.619.418.7
Operating income $B9.911.211.511.911.610.910.39.19.68.88.47.68.17.36.16.25.54.94.4
EBITDA $B10.211.511.812.111.811.110.69.39.89.08.67.88.37.56.36.55.85.14.6
Income tax $B2.42.42.81.61.32.42.12.4−0.47.62.82.72.42.32.21.81.71.71.5
Net income $B6.911.38.15.82.54.5−1.37.010.214.25.25.14.54.23.43.93.24.99.8
Free cash flow $B9.18.69.18.18.28.27.68.24.73.65.64.54.23.83.52.63.24.69.9
EPS, diluted $4.126.544.573.191.342.40−0.703.685.317.282.672.562.262.061.641.871.542.364.62
Dividend / sh $4.164.003.843.683.523.403.283.002.542.352.172.001.841.701.581.461.321.683.05
Payout %1006183114260141−469784732807780819576849068
ROE %—————98.6−12.346.272.6182.0177.8142.2124.5122.176.484.393.044.550.7
Shares out B1.671.691.761.791.821.861.861.871.901.941.961.971.992.012.042.092.082.062.11

Slide the table for earlier years. "—" not applicable · "◌" not available in our data.

Compare

This company against its peers

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Provenance

Company facts, as filed

How we verify · 0 failures · 8 divergences in 92 reconciliationsAUDITED

Reconciled in 11 of the 19 fiscal years we could check. 8 of those reconciliations are divergences — the figures exist but don't fit the formula this check expects; that isn't the same as an error. Two checks were skipped: the balance sheet is not tagged before 2008. One check was skipped: the share count is not tagged before 2008.

EPS recomputationBalance-sheet identityGross profitBalance-sheet liquidityCurrency consistency0 failures8 divergent
ActivityCigarettes
Listed onNYSE
Incorporated inVirginia
Fiscal year endsDecember 31
Data on record since2007

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