Philip Morris International (PM)
Consumer · NYSE · US
Fundamentals
Valuation and ratings
Philip Morris International trades at $189.84, which is 62% above the $72.65 our discounted cash flow model puts on the business. On that measure it screens as expensive, which is not the same as saying it will fall.
Our moat model scores it 69 out of 100, which is a moat, but not a deep one. A moat is a structural reason competitors cannot take the profits away, and it matters more to a long holding period than any single quarter's numbers do.
It changes hands at 25.6 times earnings. Be careful reading that in isolation: for a cyclical business a low P/E arrives at the top of the cycle, when profits are peaking and about to fall, which is exactly when the shares look cheapest and are not.
About Philip Morris International
Philip Morris International Inc. operates as a tobacco company. The company offers cigarettes and smoke-free products, including heat-not-burn, e-vapor, and oral nicotine products under the IQOS, VEEV, and ZYN brands; and consumer accessories, such as lighters and matches. It also offers wellness products. The company was incorporated in 1987 and is headquartered in Stamford, Connecticut.
PM passes 6 of our 30 screens today
Each screen prints the exact criteria it used, and the circumstances in which it is wrong.
Smart money ownership
27 of the funds we track reported a position in their latest SEC 13F filing. Largest first:
- Capital Research Global, Capital Research Global Investors$13.20B · 2.0% of book
- First Eagle, First Eagle Investment Management, LLC$974.26M · 1.6% of book
- Terry Smith, Fundsmith LLP$845.41M · 6.6% of book
- Thomas Russo, GARDNER RUSSO & QUINN LLC$761.40M · 9.0% of book
- Arrowstreet Capital, ARROWSTREET CAPITAL, LIMITED PARTNERSHIP$682.71M · 0.4% of book
A word of warning on reading these figures: a 13F reports the market value of a holding, so a fund that traded nothing at all still appears to have sold when the price fell. We found 102 companies where the standard reading gives the opposite answer. Only the share count is honest.
Common questions
Is Philip Morris International (PM) undervalued?
Against our discounted cash flow estimate of $72.65, PM at $189.84 is 62% above fair value. That is one model's answer, not a recommendation, and most of a DCF's output sits in a terminal value nobody can forecast.
Which funds own PM?
27 of the institutions we track reported a position in PM in their most recent SEC 13F filing. A 13F is filed up to 45 days after quarter end, so it tells you what a fund held then, not what it holds now.
What is PM's P/E ratio?
PM trades at 25.6 times earnings. A low P/E is not automatically cheap: on a cyclical company it is usually a warning that earnings are at a peak.
The full research page for PM, with financial statements, ownership detail, peer comparison and alerts, is free inside the app.
Data from company filings, exchange quotes and SEC EDGAR 13F disclosures. Quotes are delayed. Metrics we do not have are left out rather than estimated. Educational information, not financial advice.