Altria Group vs Philip Morris International (MO vs PM)
Side by side from their SEC filings: revenue, margins, growth, returns and valuation, plus short interest, insider activity and institutional ownership.
Philip Morris International is the larger company by revenue ($40.6B vs $23.3B) and market value ($319.8B vs $125.4B). Altria Group has grown revenue faster over the last 4 fiscal years (-10.5% cumulative vs -50.6%). Altria Group runs the higher operating margin (42.5% vs 36.6%). Altria Group trades at the lower trailing P/E (15.8x vs 29.5x).
About Altria Group
Altria Group, Inc. is a U.S.-based company that manufactures and sells tobacco products for adult consumers aged 21 and older. Its main products include combustible cigarettes under the Marlboro brand, machine-made large cigars under the Black & Mild brand, moist smokeless tobacco products like Copenhagen and Skoal, oral nicotine pouches, and e-vapor products. The company operates primarily through subsidiaries such as Philip Morris USA, John Middleton Co., U.S. Smokeless Tobacco Company, Helix Innovations, and NJOY, serving customers mainly within the United States.
About Philip Morris International
Philip Morris International Inc. is a global consumer goods company that primarily produces cigarettes and smoke-free nicotine products such as heat-not-burn devices, nicotine pouches, and e-vapor products. Its leading brands include Marlboro for cigarettes and IQOS, ZYN, and VEEV for smoke-free products. The company serves adult smokers and nicotine users in over 100 markets worldwide, with a focus on transitioning to smoke-free alternatives.
Head to head (MO FY2025 vs PM FY2025)
| Metric | MOFY2025 | PMFY2025 |
|---|---|---|
| Revenue | $23.28B | $40.65B |
| Revenue growth (YoY) | -3.1% | 7.3% |
| Gross margin | 76.0% | 67.1% |
| Operating margin | 42.5% | 36.6% |
| Net margin | 29.8% | 27.9% |
| Net income | $6.95B | $11.35B |
| Diluted EPS | $4.12 | $7.26 |
| FCF margin | 39.0% | 26.2% |
| ROE | — | — |
| Long-term debt / equity | — | — |
| Market cap | $125.41B | $319.83B |
| P/E | 15.8× | 29.5× |
Fundamentals are from each company’s SEC filings (MO FY2025, PM FY2025). ROE is net income over fiscal-year-end equity; long-term debt / equity counts non-current term debt only. P/E and market cap are derived from stored market prices, last retrieved on a rolling basis and typically within the past week.
Five-year trend (as reported)
| Revenue | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|
| MO | $26.01B | $25.10B | $24.48B | $24.02B | $23.28B |
| PM | $82.22B | $80.67B | $35.17B | $37.88B | $40.65B |
Peer standing
Where each company ranks among the 131 Consumer Staples companies, on the same scale. Each figure is ranked only against peers that report it. Percentiles describe position in the distribution, not a rating.
| Metric | MO | PM |
|---|---|---|
| Gross margin | 76.0%99th percentile of 113 | 67.1%91st percentile of 113 |
| Operating margin | 42.5%Highest of 117 | 36.6%99th percentile of 117 |
| Net margin | 29.8%98th percentile of 121 | 27.9%97th percentile of 121 |
| FCF margin | 39.0%Highest of 114 | 26.2%99th percentile of 114 |
| Revenue growth (YoY) | -3.1%24th percentile of 127 | +7.3%67th percentile of 127 |
| P/E | 15.8×29th percentile of 77 | 29.5×66th percentile of 77 |
| Short interest (days to cover) | 4.70d66th percentile of 129 | 3.64d49th percentile of 129 |
Short interest
| FINRA settlement data | MO | PM |
|---|---|---|
| Shares sold short | 37.6M | 17.7M |
| Change vs prior settlement | -3.6% | +28.4% |
| Days to cover | 4.70 | 3.64 |
| As of settlement | 2026-09-30 | 2026-09-30 |
Source: FINRA Consolidated Short Interest. FINRA is the owner and source of the FINRA-supplied data; republishing or redistributing it is not permitted. Not presented as a percentage of float. No FINRA endorsement of this product is implied.
Insider activity (last 90 days)
| Form 4 activity (codes P/S) | MO | PM |
|---|---|---|
| Buys | 1 ($101,430) | — |
| Sells | 0 | — |
Non-derivative purchases (code P) and sales (code S) reported on SEC Form 4, which may be open-market or private (grants, exercises and tax withholding excluded). For context, about 15% of covered companies saw any reported insider purchase (code P) in a 90-day window.
Held by the same investors
9 tracked 13F managers hold both Altria Group and Philip Morris International as of their latest quarterly filings: AQR Capital Management, Citadel Advisors, D. E. Shaw, Dodge & Cox, Gotham Asset Management, Maverick Capital, Millennium Management, Two Sigma Investments, Yacktman Asset Management. See which superinvestors hold your own portfolio with the smart money checker.
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Data sourced from SEC EDGAR. Figures are as-reported and may be unaudited or restated; verify against the source filings before relying on them. Comparisons are descriptive (higher or lower on a reported figure), not a rating or a recommendation. Informational only. Not investment advice.