Published
{
"ticker": "PM",
"cik": "0001413329",
"company": "Philip Morris International Inc.",
"business_type": "industrial",
"schema_template": "standard (consumer products manufacturer): net revenues, cost of sales, gross profit, operating income, net earnings, per-share data; balance sheet with cash, debt, assets and equity; cash flow with operating cash flow, capital expenditures and free cash flow. Segment net revenues and segment gross profit are added because segment gross profit is the profitability measure Philip Morris International now uses to manage its reportable segments.",
"reporting_currency": "USD",
"converted_to_usd": false,
"units": "actual dollars (not millions); share counts in actual shares; per-share amounts in dollars",
"units_notes_seen": {
"FY2025 10-K consolidated statements of earnings": "(in millions of dollars, except per share data)",
"FY2025 10-K consolidated balance sheets": "(in millions of dollars, except share data)",
"FY2025 10-K consolidated statements of cash flows": "(in millions of dollars)",
"FY2025 10-K consolidated statements of stockholders' (deficit) equity": "(in millions of dollars, except per share data)",
"FY2025 10-K earnings per share note (Note 9)": "(in millions)",
"Q2 2026 10-Q condensed consolidated statements of earnings": "(in millions of dollars, except per share data) (Unaudited)",
"Q2 2026 10-Q condensed consolidated balance sheets": "(in millions of dollars) (Unaudited) on the asset page; (in millions of dollars, except share data) (Unaudited) on the continued liabilities and equity page",
"Q2 2026 10-Q condensed consolidated statements of cash flows": "(in millions of dollars) (Unaudited)",
"Q2 2026 10-Q condensed consolidated statements of stockholders' (deficit) equity": "(in millions of dollars, except per share amounts) (Unaudited)",
"Q2 2026 10-Q earnings per share note (Note 7)": "(in millions)",
"Q2 2026 10-Q segment reporting note (Note 8)": "(in millions)"
},
"adjustments": {
"splits_applied": [],
"splits_note": "Philip Morris International has not split its stock in the period covered by these filings, so no per-share figure has been restated here.",
"adr_ratio": null,
"adr_note": "Philip Morris International is a U.S. domestic filer and its common stock trades directly on the New York Stock Exchange, so no American depositary share conversion applies.",
"fx": "None applied. Philip Morris International reports in U.S. dollars."
},
"annual": [
{
"fiscal_year": 2025,
"label": "FY2025",
"period_start": "2025-01-01",
"period_end": "2025-12-31",
"period_type": "fiscal year",
"source_accession": "0001628280-26-005939",
"income_statement": {
"net_revenue": 40648000000,
"cost_of_sales": 13366000000,
"gross_profit": 27282000000,
"marketing_administration_and_research_costs": 12349000000,
"impairment_of_goodwill": 41000000,
"operating_income": 14892000000,
"interest_expense_net": 966000000,
"pension_and_other_employee_benefit_costs": 46000000,
"earnings_before_income_taxes": 13880000000,
"provision_for_income_taxes": 2737000000,
"impairment_related_to_rbh_equity_investment": 0,
"equity_investments_and_securities_income_loss_net": -705000000,
"net_earnings_including_noncontrolling_interests": 11848000000,
"net_earnings_attributable_to_noncontrolling_interests": 500000000,
"net_income_attributable_to_shareholders": 11348000000,
"net_income_available_to_common_stockholders": 11316000000,
"basic_eps": 7.27,
"diluted_eps": 7.26,
"basic_shares": 1556000000,
"diluted_shares": 1558000000
},
"balance_sheet": {
"cash_and_cash_equivalents": 4872000000,
"inventories": 11478000000,
"total_current_assets": 24363000000,
"goodwill": 17264000000,
"other_intangible_assets_net": 10884000000,
"total_assets": 69185000000,
"short_term_borrowings": 168000000,
"current_portion_of_long_term_debt": 3533000000,
"total_current_liabilities": 25427000000,
"long_term_debt": 45134000000,
"total_liabilities": 77213000000,
"total_pmi_stockholders_deficit": -9994000000,
"noncontrolling_interests": 1966000000,
"total_stockholders_equity_including_noncontrolling_interests": -8028000000,
"total_debt": 48835000000
},
"cash_flow": {
"operating_cash_flow": 12233000000,
"capital_expenditures": -1569000000,
"investing_cash_flow": -3967000000,
"dividends_paid": -8624000000,
"financing_cash_flow": -8132000000,
"free_cash_flow": 10664000000
},
"supplemental": {
"depreciation_and_amortization": 1996000000,
"dividends_declared_per_share": 5.64,
"excise_taxes_on_products": 53211000000
}
},
{
"fiscal_year": 2024,
"label": "FY2024",
"period_start": "2024-01-01",
"period_end": "2024-12-31",
"period_type": "fiscal year",
"source_accession": "0001628280-26-005939",
"income_statement": {
"net_revenue": 37878000000,
"cost_of_sales": 13329000000,
"gross_profit": 24549000000,
"marketing_administration_and_research_costs": 11147000000,
"impairment_of_goodwill": 0,
"operating_income": 13402000000,
"interest_expense_net": 1143000000,
"pension_and_other_employee_benefit_costs": 60000000,
"earnings_before_income_taxes": 12199000000,
"provision_for_income_taxes": 3017000000,
"impairment_related_to_rbh_equity_investment": 2316000000,
"equity_investments_and_securities_income_loss_net": -637000000,
"net_earnings_including_noncontrolling_interests": 7503000000,
"net_earnings_attributable_to_noncontrolling_interests": 446000000,
"net_income_attributable_to_shareholders": 7057000000,
"net_income_available_to_common_stockholders": 7034000000,
"basic_eps": 4.53,
"diluted_eps": 4.52,
"basic_shares": 1554000000,
"diluted_shares": 1556000000
},
"balance_sheet": {
"cash_and_cash_equivalents": 4216000000,
"inventories": 9453000000,
"total_current_assets": 20170000000,
"goodwill": 16600000000,
"other_intangible_assets_net": 11327000000,
"total_assets": 61784000000,
"short_term_borrowings": 137000000,
"current_portion_of_long_term_debt": 3392000000,
"total_current_liabilities": 22915000000,
"long_term_debt": 42166000000,
"total_liabilities": 71654000000,
"total_pmi_stockholders_deficit": -11750000000,
"noncontrolling_interests": 1880000000,
"total_stockholders_equity_including_noncontrolling_interests": -9870000000,
"total_debt": 45695000000
},
"cash_flow": {
"operating_cash_flow": 12217000000,
"capital_expenditures": -1444000000,
"investing_cash_flow": -1092000000,
"dividends_paid": -8197000000,
"financing_cash_flow": -9481000000,
"free_cash_flow": 10773000000
},
"supplemental": {
"depreciation_and_amortization": 1787000000,
"dividends_declared_per_share": 5.3,
"excise_taxes_on_products": 51563000000
}
},
{
"fiscal_year": 2023,
"label": "FY2023",
"period_start": "2023-01-01",
"period_end": "2023-12-31",
"period_type": "fiscal year",
"source_accession": "0001628280-26-005939",
"income_statement": {
"net_revenue": 35174000000,
"cost_of_sales": 12893000000,
"gross_profit": 22281000000,
"marketing_administration_and_research_costs": 10060000000,
"impairment_of_goodwill": 665000000,
"operating_income": 11556000000,
"interest_expense_net": 1061000000,
"pension_and_other_employee_benefit_costs": 45000000,
"earnings_before_income_taxes": 10450000000,
"provision_for_income_taxes": 2339000000,
"impairment_related_to_rbh_equity_investment": 0,
"equity_investments_and_securities_income_loss_net": -157000000,
"net_earnings_including_noncontrolling_interests": 8268000000,
"net_earnings_attributable_to_noncontrolling_interests": 455000000,
"net_income_attributable_to_shareholders": 7813000000,
"net_income_available_to_common_stockholders": 7791000000,
"basic_eps": 5.02,
"diluted_eps": 5.02,
"basic_shares": 1552000000,
"diluted_shares": 1553000000
},
"cash_flow": {
"operating_cash_flow": 9204000000,
"capital_expenditures": -1321000000,
"investing_cash_flow": -3598000000,
"dividends_paid": -7964000000,
"financing_cash_flow": -5582000000,
"free_cash_flow": 7883000000
},
"supplemental": {
"depreciation_and_amortization": 1398000000,
"dividends_declared_per_share": 5.14,
"excise_taxes_on_products": 49404000000
}
}
],
"quarterly": [
{
"label": "Q2 2026",
"fiscal_year": 2026,
"fiscal_quarter": 2,
"period_start": "2026-04-01",
"period_end": "2026-06-30",
"period_type": "three months",
"source_accession": "0001628280-26-049493",
"income_statement": {
"net_revenue": 11192000000,
"cost_of_sales": 3533000000,
"gross_profit": 7659000000,
"marketing_administration_and_research_costs": 2981000000,
"impairment_of_goodwill": 0,
"corporate_expenses_and_other": 148000000,
"operating_income": 4530000000,
"interest_expense_net": 243000000,
"pension_and_other_employee_benefit_costs": -5000000,
"earnings_before_income_taxes": 4292000000,
"provision_for_income_taxes": 955000000,
"impairment_related_to_rbh_equity_investment": 511000000,
"equity_investments_and_securities_income_loss_net": -159000000,
"net_earnings_including_noncontrolling_interests": 2985000000,
"net_earnings_attributable_to_noncontrolling_interests": 168000000,
"net_income_attributable_to_shareholders": 2817000000,
"basic_eps": 1.8,
"diluted_eps": 1.8,
"net_income_available_to_common_stockholders": 2810000000,
"basic_shares": 1559000000,
"diluted_shares": 1560000000
},
"balance_sheet": {
"cash_and_cash_equivalents": 5999000000,
"inventories": 11436000000,
"total_current_assets": 26006000000,
"goodwill": 16917000000,
"other_intangible_assets_net": 10178000000,
"total_assets": 68271000000,
"short_term_borrowings": 3341000000,
"current_portion_of_long_term_debt": 3406000000,
"total_current_liabilities": 26542000000,
"long_term_debt": 42366000000,
"total_liabilities": 74928000000,
"total_pmi_stockholders_deficit": -8583000000,
"noncontrolling_interests": 1926000000,
"total_stockholders_equity_including_noncontrolling_interests": -6657000000,
"total_debt": 49113000000
},
"supplemental": {
"depreciation_and_amortization": 513000000,
"dividends_declared_per_share": 1.47,
"excise_taxes_on_products": 14973000000
},
"segments": {
"international_smoke_free": {
"net_revenues": 3877000000,
"cost_of_sales": -1161000000,
"gross_profit": 2716000000
},
"international_combustibles": {
"net_revenues": 6459000000,
"cost_of_sales": -2071000000,
"gross_profit": 4388000000
},
"us": {
"net_revenues": 856000000,
"cost_of_sales": -301000000,
"gross_profit": 555000000
}
},
"net_revenue_by_product_category": {
"total_smoke_free": 4645000000,
"total_combustible_tobacco": 6547000000
}
},
{
"label": "Q2 2025",
"fiscal_year": 2025,
"fiscal_quarter": 2,
"period_start": "2025-04-01",
"period_end": "2025-06-30",
"period_type": "three months",
"source_accession": "0001628280-26-049493",
"income_statement": {
"net_revenue": 10140000000,
"cost_of_sales": 3274000000,
"gross_profit": 6866000000,
"marketing_administration_and_research_costs": 2988000000,
"impairment_of_goodwill": 41000000,
"corporate_expenses_and_other": 125000000,
"operating_income": 3712000000,
"interest_expense_net": 277000000,
"pension_and_other_employee_benefit_costs": 11000000,
"earnings_before_income_taxes": 3424000000,
"provision_for_income_taxes": 652000000,
"impairment_related_to_rbh_equity_investment": 0,
"equity_investments_and_securities_income_loss_net": -376000000,
"net_earnings_including_noncontrolling_interests": 3148000000,
"net_earnings_attributable_to_noncontrolling_interests": 109000000,
"net_income_attributable_to_shareholders": 3039000000,
"basic_eps": 1.95,
"diluted_eps": 1.95,
"net_income_available_to_common_stockholders": 3031000000,
"basic_shares": 1557000000,
"diluted_shares": 1558000000
},
"balance_sheet": {
"noncontrolling_interests": 1954000000,
"total_stockholders_equity_including_noncontrolling_interests": -10012000000
},
"supplemental": {
"depreciation_and_amortization": 490000000,
"dividends_declared_per_share": 1.35,
"excise_taxes_on_products": 13272000000
},
"segments": {
"international_smoke_free": {
"net_revenues": 3395000000,
"cost_of_sales": -1076000000,
"gross_profit": 2319000000
},
"international_combustibles": {
"net_revenues": 5883000000,
"cost_of_sales": -1947000000,
"gross_profit": 3936000000
},
"us": {
"net_revenues": 862000000,
"cost_of_sales": -252000000,
"gross_profit": 611000000
}
},
"net_revenue_by_product_category": {
"total_smoke_free": 4161000000,
"total_combustible_tobacco": 5979000000
}
}
],
"year_to_date": {
"label": "Six months ended June 30, 2026",
"period_start": "2026-01-01",
"period_end": "2026-06-30",
"period_type": "six months",
"source_accession": "0001628280-26-049493",
"income_statement": {
"net_revenue": 21338000000,
"cost_of_sales": 6774000000,
"gross_profit": 14564000000,
"marketing_administration_and_research_costs": 5838000000,
"impairment_of_goodwill": 0,
"corporate_expenses_and_other": 303000000,
"operating_income": 8423000000,
"interest_expense_net": 480000000,
"pension_and_other_employee_benefit_costs": -10000000,
"earnings_before_income_taxes": 7953000000,
"provision_for_income_taxes": 1631000000,
"impairment_related_to_rbh_equity_investment": 511000000,
"equity_investments_and_securities_income_loss_net": 244000000,
"net_earnings_including_noncontrolling_interests": 5567000000,
"net_earnings_attributable_to_noncontrolling_interests": 312000000,
"net_income_attributable_to_shareholders": 5255000000,
"net_income_available_to_common_stockholders": 5241000000,
"basic_eps": 3.36,
"diluted_eps": 3.36,
"basic_shares": 1558000000,
"diluted_shares": 1560000000
},
"cash_flow": {
"operating_cash_flow": 5093000000,
"capital_expenditures": -733000000,
"investing_cash_flow": 23000000,
"dividends_paid": -4604000000,
"financing_cash_flow": -3879000000,
"free_cash_flow": 4360000000
},
"supplemental": {
"depreciation_and_amortization": 1023000000,
"dividends_declared_per_share": 2.94,
"excise_taxes_on_products": 27826000000
},
"segments": {
"international_smoke_free": {
"net_revenues": 7713000000,
"cost_of_sales": -2313000000,
"gross_profit": 5400000000
},
"international_combustibles": {
"net_revenues": 12147000000,
"cost_of_sales": -3917000000,
"gross_profit": 8229000000
},
"us": {
"net_revenues": 1478000000,
"cost_of_sales": -544000000,
"gross_profit": 935000000
}
},
"net_revenue_by_product_category": {
"total_smoke_free": 9024000000,
"total_combustible_tobacco": 12314000000
},
"prior_year_comparative": {
"label": "Six months ended June 30, 2025",
"period_start": "2025-01-01",
"period_end": "2025-06-30",
"period_type": "six months",
"source_accession": "0001628280-26-049493",
"income_statement": {
"net_revenue": 19441000000,
"cost_of_sales": 6305000000,
"gross_profit": 13136000000,
"marketing_administration_and_research_costs": 5416000000,
"impairment_of_goodwill": 41000000,
"corporate_expenses_and_other": 423000000,
"operating_income": 7256000000,
"interest_expense_net": 518000000,
"pension_and_other_employee_benefit_costs": 23000000,
"earnings_before_income_taxes": 6715000000,
"provision_for_income_taxes": 1311000000,
"impairment_related_to_rbh_equity_investment": 0,
"equity_investments_and_securities_income_loss_net": -581000000,
"net_earnings_including_noncontrolling_interests": 5985000000,
"net_earnings_attributable_to_noncontrolling_interests": 256000000,
"net_income_attributable_to_shareholders": 5729000000,
"net_income_available_to_common_stockholders": 5713000000,
"basic_eps": 3.67,
"diluted_eps": 3.67,
"basic_shares": 1556000000,
"diluted_shares": 1558000000
},
"cash_flow": {
"operating_cash_flow": 3062000000,
"capital_expenditures": -760000000,
"investing_cash_flow": -2750000000,
"dividends_paid": -4222000000,
"financing_cash_flow": -890000000,
"free_cash_flow": 2302000000
},
"supplemental": {
"depreciation_and_amortization": 970000000,
"dividends_declared_per_share": 2.7,
"excise_taxes_on_products": 25274000000
},
"segments": {
"international_smoke_free": {
"net_revenues": 6471000000,
"cost_of_sales": -2066000000,
"gross_profit": 4405000000
},
"international_combustibles": {
"net_revenues": 11209000000,
"cost_of_sales": -3774000000,
"gross_profit": 7435000000
},
"us": {
"net_revenues": 1762000000,
"cost_of_sales": -466000000,
"gross_profit": 1296000000
}
},
"net_revenue_by_product_category": {
"total_smoke_free": 8055000000,
"total_combustible_tobacco": 11386000000
}
}
},
"trailing_twelve_months": {
"label": "Trailing twelve months ended June 30, 2026",
"period_start": "2025-07-01",
"period_end": "2026-06-30",
"period_type": "trailing twelve months",
"source_accession": "0001628280-26-005939 and 0001628280-26-049493",
"derivation": "Full year 2025 plus the six months ended June 30, 2026, less the six months ended June 30, 2025.",
"income_statement": {
"net_revenue": 42545000000,
"cost_of_sales": 13835000000,
"gross_profit": 28710000000,
"impairment_of_goodwill": 0,
"operating_income": 16059000000,
"interest_expense_net": 928000000,
"pension_and_other_employee_benefit_costs": 13000000,
"earnings_before_income_taxes": 15118000000,
"provision_for_income_taxes": 3057000000,
"impairment_related_to_rbh_equity_investment": 511000000,
"equity_investments_and_securities_income_loss_net": 120000000,
"net_earnings_including_noncontrolling_interests": 11430000000,
"net_earnings_attributable_to_noncontrolling_interests": 556000000,
"net_income_attributable_to_shareholders": 10874000000,
"net_income_available_to_common_stockholders": 10844000000,
"diluted_eps": 6.95
},
"cash_flow": {
"operating_cash_flow": 14264000000,
"capital_expenditures": -1542000000,
"investing_cash_flow": -1194000000,
"dividends_paid": -9006000000,
"financing_cash_flow": -11121000000,
"free_cash_flow": 12722000000
},
"supplemental": {
"depreciation_and_amortization": 2049000000,
"excise_taxes_on_products": 55763000000
}
},
"notes": [
"Every figure is stated in actual U.S. dollars, converted from the millions the filings print. Share counts are in actual shares and per-share amounts in dollars.",
"The annual periods come from the consolidated financial statements in the Form 10-K for the year ended December 31, 2025 (accession 0001628280-26-005939). That filing prints the years ended December 31, 2025, 2024 and 2023 on its statements of earnings and cash flows, and balance sheets at December 31, 2025 and 2024 only. FY2023 therefore carries an income statement and a cash flow statement but no balance sheet.",
"The quarterly and year-to-date figures come from the Form 10-Q for the quarter ended June 30, 2026 (accession 0001628280-26-049493). That filing prints a three-month statement of earnings and a separate six-month statement of earnings. The three-month columns are reported here as the June 2026 and June 2025 quarters; the six-month columns are held in the year-to-date block, with the prior-year six months stored alongside them.",
"The 10-Q presents cash flows for the six-month period only, so no cash flow figures are reported for the June 2026 or June 2025 quarters.",
"Effective January 1, 2026 Philip Morris International reorganized into three reportable segments - International Smoke-Free, International Combustibles and the U.S., which includes the Aspeya wellness unit - replacing the four geographic segments used previously, and adopted segment gross profit in place of regional operating income as its primary measure of segment profitability. At the same time it added a \"Corporate expenses and other\" caption to the statement of earnings, moving foreign currency gains and losses and restricted and performance share unit compensation expense out of cost of sales and out of marketing, administration and research costs. The 10-Q restates the 2025 interim comparatives on this basis. The 10-K, filed before the change, presents the annual years on the earlier basis. The company states that the reclassification did not change its financial position, results of operations or cash flows; net revenues, operating income and net earnings are identical on either basis.",
"The trailing-twelve-month view adds the six months ended June 30, 2026 to full-year 2025 and subtracts the six months ended June 30, 2025. Its cost of sales and gross profit therefore combine the 10-K's presentation of 2025 with the current presentation of the 2026 interim periods. Recast schedules the company furnished on March 13, 2026 (accession 0001628280-26-017497) show the difference between the two presentations to be about $22 million of full-year 2025 cost of sales, which is immaterial against a trailing-twelve-month cost of sales of $13.8 billion. Marketing, administration and research costs are affected far more by the same reclassification and are deliberately left out of the trailing-twelve-month view.",
"Cash flow lines are carried with the signs the statements print, so capital expenditures, dividends paid and net cash used in investing and financing activities are negative. Free cash flow is operating cash flow less capital expenditures.",
"\"Equity investments and securities (income)/loss, net\" and \"Pension and other employee benefit (income) costs\" are presented in the statements of earnings as deductions in arriving at net earnings. A negative amount in those two lines is income, matching the parentheses the filing prints.",
"Philip Morris International reports a stockholders' deficit rather than positive equity: total stockholders' deficit including noncontrolling interests was $8.0 billion at December 31, 2025 and $6.7 billion at June 30, 2026. That is what the balance sheet reports. It reflects the cumulative cost of repurchased stock and dividends exceeding earnings reinvested in the business, and the deficit has narrowed over the periods shown.",
"Total debt is the sum of short-term borrowings, the current portion of long-term debt and long-term debt as those three lines appear on the balance sheet. The filings do not print a total debt line.",
"Earnings per share is computed under the two-class method. \"Net income available to common stockholders\" here is the filing's \"Net earnings for basic and diluted EPS\", which is net earnings attributable to PMI less the distributed and undistributed earnings attributable to participating share-based payment awards. Both that figure and net earnings attributable to PMI are reported.",
"Segment net revenues, cost of sales and gross profit are reported for the quarters and the year-to-date period only, on the three-segment structure adopted in 2026. The 10-K's annual segment disclosure uses the four geographic segments that structure replaced and is not comparable, so no annual segment data is carried here. Segment cost of sales is shown as a deduction in the filing's segment table and keeps that negative sign.",
"Only figures reported under U.S. generally accepted accounting principles are used. The adjusted, currency-neutral and \"operating companies income\" measures that appear in the company's management discussion and in its earnings materials are non-GAAP and are not reported here.",
"No balance sheet at June 30, 2025 appears in the 10-Q, which presents balance sheets at June 30, 2026 and December 31, 2025. The total stockholders' deficit and noncontrolling interests shown for the June 2025 quarter are taken from that filing's statement of stockholders' (deficit) equity, the only balance sheet information it gives for that date.",
"The balance sheet at December 31, 2025 as printed in the 10-Q agrees line for line with the 10-K, so no prior-period balance sheet has been restated."
],
"uncertainties": [
"No cash flow figures are reported for the June 2026 or June 2025 quarters. The 10-Q reports cash flows for the six months only, and the first-quarter statement that would allow the quarter to be derived by difference is not part of this filing set.",
"Trailing-twelve-month cost of sales and gross profit combine two presentations of the same lines, as described in the notes. The amounts are within roughly $22 million of a like-for-like basis but are not exactly comparable.",
"Trailing-twelve-month diluted earnings per share of $6.95 is the reported full-year 2025 amount plus the reported six months of 2026 less the reported six months of 2025 ($7.26 + $3.36 - $3.67). It is an approximation, because the weighted-average share counts of the three periods differ slightly, and no trailing-twelve-month share count is reported.",
"Total debt is a sum of three balance-sheet lines rather than a figure the company itself prints.",
"FY2023 carries no balance sheet, and the June 2025 quarter carries only total equity and noncontrolling interests, because those are the only figures the filings present for those dates."
],
"headline": {
"period": "Q2 FY2026",
"period_end_words": "June 30, 2026",
"metrics": [
{
"label": "Net revenues",
"format": "usd",
"value": 11192000000,
"text": "$11.19 billion",
"exact": "$11,192,000,000",
"compact": "$11.19B",
"abs": "$11.19 billion",
"prior_value": 10140000000,
"prior": "$10.14 billion",
"priorabs": "$10.14 billion",
"yoy": "up 10.4%",
"source": {
"array": "quarterly",
"field": "income_statement.net_revenue",
"index": 0,
"period_label": "Q2 2026",
"period_end": "2026-06-30",
"period_start": "2026-04-01",
"span_days": 90,
"source_accession": "0001628280-26-049493",
"prior_index": 1,
"prior_period_label": "Q2 2025",
"prior_period_end": "2025-06-30",
"prior_period_start": "2025-04-01",
"prior_span_days": 90,
"prior_source_accession": "0001628280-26-049493",
"gap_days": 365
}
},
{
"label": "Net income",
"format": "usd",
"value": 2817000000,
"text": "$2.82 billion",
"exact": "$2,817,000,000",
"compact": "$2.82B",
"abs": "$2.82 billion",
"prior_value": 3039000000,
"prior": "$3.04 billion",
"priorabs": "$3.04 billion",
"yoy": "down 7.3%",
"source": {
"array": "quarterly",
"field": "income_statement.net_income_attributable_to_shareholders",
"index": 0,
"period_label": "Q2 2026",
"period_end": "2026-06-30",
"period_start": "2026-04-01",
"span_days": 90,
"source_accession": "0001628280-26-049493",
"prior_index": 1,
"prior_period_label": "Q2 2025",
"prior_period_end": "2025-06-30",
"prior_period_start": "2025-04-01",
"prior_span_days": 90,
"prior_source_accession": "0001628280-26-049493",
"gap_days": 365
}
},
{
"label": "Diluted EPS",
"format": "eps",
"value": 1.8,
"text": "$1.80",
"exact": "$1.80",
"compact": "$1.80",
"abs": "$1.80",
"prior_value": 1.95,
"prior": "$1.95",
"priorabs": "$1.95",
"yoy": "down 7.7%",
"source": {
"array": "quarterly",
"field": "income_statement.diluted_eps",
"index": 0,
"period_label": "Q2 2026",
"period_end": "2026-06-30",
"period_start": "2026-04-01",
"span_days": 90,
"source_accession": "0001628280-26-049493",
"prior_index": 1,
"prior_period_label": "Q2 2025",
"prior_period_end": "2025-06-30",
"prior_period_start": "2025-04-01",
"prior_span_days": 90,
"prior_source_accession": "0001628280-26-049493",
"gap_days": 365
}
},
{
"label": "Operating income",
"format": "usd",
"value": 4530000000,
"text": "$4.53 billion",
"exact": "$4,530,000,000",
"compact": "$4.53B",
"abs": "$4.53 billion",
"prior_value": 3712000000,
"prior": "$3.71 billion",
"priorabs": "$3.71 billion",
"yoy": "up 22.0%",
"source": {
"array": "quarterly",
"field": "income_statement.operating_income",
"index": 0,
"period_label": "Q2 2026",
"period_end": "2026-06-30",
"period_start": "2026-04-01",
"span_days": 90,
"source_accession": "0001628280-26-049493",
"prior_index": 1,
"prior_period_label": "Q2 2025",
"prior_period_end": "2025-06-30",
"prior_period_start": "2025-04-01",
"prior_span_days": 90,
"prior_source_accession": "0001628280-26-049493",
"gap_days": 365
}
},
{
"label": "Smoke-free net revenues",
"format": "usd",
"value": 4645000000,
"text": "$4.64 billion",
"exact": "$4,645,000,000",
"compact": "$4.64B",
"abs": "$4.64 billion",
"prior_value": 4161000000,
"prior": "$4.16 billion",
"priorabs": "$4.16 billion",
"yoy": "up 11.6%",
"source": {
"array": "quarterly",
"field": "net_revenue_by_product_category.total_smoke_free",
"index": 0,
"period_label": "Q2 2026",
"period_end": "2026-06-30",
"period_start": "2026-04-01",
"span_days": 90,
"source_accession": "0001628280-26-049493",
"prior_index": 1,
"prior_period_label": "Q2 2025",
"prior_period_end": "2025-06-30",
"prior_period_start": "2025-04-01",
"prior_span_days": 90,
"prior_source_accession": "0001628280-26-049493",
"gap_days": 365
}
},
{
"label": "RBH impairment",
"format": "usd",
"value": 511000000,
"text": "$511 million",
"exact": "$511,000,000",
"compact": "$511.00M",
"abs": "$511 million",
"prior_value": null,
"prior": null,
"priorabs": null,
"yoy": null,
"source": {
"array": "quarterly",
"field": "income_statement.impairment_related_to_rbh_equity_investment",
"index": 0,
"period_label": "Q2 2026",
"period_end": "2026-06-30",
"period_start": "2026-04-01",
"span_days": 90,
"source_accession": "0001628280-26-049493"
}
}
],
"summary": "Philip Morris International reported $11.19 billion in net revenues for Q2 FY2026, the quarter ended June 30, 2026, up 10.4% from a year earlier, with operating income of $4.53 billion, up 22.0%. Net income attributable to shareholders was $2.82 billion, down 7.3%, and diluted earnings per share fell to $1.80 from $1.95, held back by a non-cash impairment charge of $511 million against the company's equity investment in Canadian affiliate Rothmans, Benson & Hedges, by lower income from equity security investments and by a higher effective tax rate, all of which sit below the operating line. Smoke-free products accounted for $4.64 billion of the quarter's net revenues, up 11.6%.",
"qa": [
{
"q": "How much revenue did Philip Morris International report in Q2 FY2026?",
"a": "Philip Morris International reported $11.19 billion in net revenues for Q2 FY2026, the quarter ended June 30, 2026. That is up 10.4% from $10.14 billion in the same quarter a year earlier."
},
{
"q": "What was Philip Morris International's net income in Q2 FY2026?",
"a": "Philip Morris International reported net income attributable to shareholders of $2.82 billion for Q2 FY2026, the quarter ended June 30, 2026, down 7.3% from $3.04 billion a year earlier."
},
{
"q": "Why did Philip Morris International's earnings per share fall in Q2 FY2026?",
"a": "Philip Morris International posted diluted earnings per share of $1.80 in Q2 FY2026, down from $1.95 a year earlier, even as operating income rose to $4.53 billion. The decline came from items below the operating line: a non-cash impairment charge of $511 million against the company's equity investment in Rothmans, Benson & Hedges, lower income from equity security investments and a higher effective tax rate."
},
{
"q": "How much of Philip Morris International's revenue comes from smoke-free products?",
"a": "Smoke-free products generated $4.64 billion of Philip Morris International's $11.19 billion in total net revenues in Q2 FY2026, up 11.6% from a year earlier. The balance came from combustible tobacco."
}
]
},
"company_details": {
"Name": "Philip Morris International Inc.",
"Ticker": "PM",
"CIK": "0001413329",
"Exchange": "NYSE",
"State": "Connecticut",
"Incorporation": "Virginia",
"SIC": "2111",
"Office": "Manufacturing",
"Industry": "Cigarettes"
},
"next_filing": {
"predicted_date": "2026-10-22",
"predicted_type": "10-Q"
},
"fiscal_period": {
"fiscal_year": 2026,
"fiscal_period": "Q2",
"tag": "FY26Q2",
"period_end": "2026-06-30",
"form": "10-Q",
"accession": "0001628280-26-049493",
"fiscal_year_end": "1231",
"source": "facts"
}
}