Philip Morris International annual free cash flow
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2025
Philip Morris International Free Cash Flow (FCF) History (PM)
Philip Morris International reported $10.66B in free cash flow for fiscal 2025, a decrease of 1.01% from the previous fiscal year, with a free cash flow margin of 26.23%.
View full Philip Morris International company overviewPhilip Morris International free cash flow by year
| Fiscal year | Period ended | Free cash flow | Change | Growth | FCF margin |
|---|---|---|---|---|---|
| 2025 | 2025-12-31 | $10.66B | −$109.0M | −1.01% | +26.23% |
| 2024 | 2024-12-31 | $10.77B | $2.89B | +36.66% | +28.44% |
| 2023 | 2023-12-31 | $7.88B | −$1.84B | −18.95% | +22.41% |
| 2022 | 2022-12-31 | $9.73B | −$1.49B | −13.31% | +30.62% |
| 2021 | 2021-12-31 | $11.22B | $2.01B | +21.81% | +35.72% |
| 2020 | 2020-12-31 | $9.21B | −$28.0M | −0.30% | +32.10% |
| 2019 | 2019-12-31 | $9.24B | $1.20B | +14.87% | +30.99% |
| 2018 | 2018-12-31 | $8.04B | $678.0M | +9.21% | +27.15% |
| 2017 | 2017-12-31 | $7.36B | $459.0M | +6.65% | +25.62% |
| 2016 | 2016-12-31 | $6.91B | $0 | 0.00% | +25.88% |
| 2015 | 2015-12-31 | $6.91B | $319.0M | +4.84% | +9.34% |
| 2014 | 2014-12-31 | $6.59B | −$2.35B | −26.29% | +8.22% |
| 2013 | 2013-12-31 | $8.94B | $570.0M | +6.81% | +11.16% |
| 2012 | 2012-12-31 | $8.37B | −$1.27B | −13.15% | +10.81% |
| 2011 | 2011-12-31 | $9.63B | $908.0M | +10.41% | +12.62% |
| 2010 | 2010-12-31 | $8.72B | $1.55B | +21.69% | +12.88% |
| 2009 | 2009-12-31 | $7.17B | $333.0M | +4.87% | +11.55% |
| 2008 | 2008-12-31 | $6.84B | $2.36B | +52.66% | +10.74% |
| 2007 | 2007-12-31 | $4.48B | — | — | +8.11% |
Philip Morris International quarterly free cash flow
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Q2.26
| Fiscal quarter | Period ended | Free cash flow | Change | YoY growth | FCF margin |
|---|---|---|---|---|---|
| Q2 2026 | 2026-06-30 | $5.11B | $2.06B | +67.28% | +45.68% |
| Q1 2026 | 2026-03-31 | −$752.0M | $2.0M | — | −7.41% |
| Q4 2025 | 2025-12-31 | $4.26B | $541.0M | +14.53% | +41.16% |
| Q3 2025 | 2025-09-30 | $4.10B | $1.13B | +38.27% | +37.78% |
| Q2 2025 | 2025-06-30 | $3.06B | −$1.21B | −28.30% | +30.14% |
| Q1 2025 | 2025-03-31 | −$754.0M | −$578.0M | — | −8.11% |
| Q4 2024 | 2024-12-31 | $3.72B | $733.0M | +24.51% | +38.37% |
| Q3 2024 | 2024-09-30 | $2.96B | −$81.0M | −2.66% | +29.90% |
| Q2 2024 | 2024-06-30 | $4.26B | $1.18B | +38.29% | +45.01% |
| Q1 2024 | 2024-03-31 | −$176.0M | $1.06B | — | −2.00% |
| Q4 2023 | 2023-12-31 | $2.99B | $245.0M | +8.92% | +33.06% |
| Q3 2023 | 2023-09-30 | $3.04B | $228.0M | +8.10% | +33.30% |
| Q2 2023 | 2023-06-30 | $3.08B | −$193.0M | −5.89% | +34.37% |
| Q1 2023 | 2023-03-31 | −$1.23B | −$2.12B | — | −15.39% |
| Q4 2022 | 2022-12-31 | $2.75B | −$997.0M | −26.64% | +33.68% |
| Q3 2022 | 2022-09-30 | $2.82B | −$902.0M | −24.26% | +35.06% |
| Q2 2022 | 2022-06-30 | $3.27B | −$227.0M | −6.48% | +41.82% |
| Q1 2022 | 2022-03-31 | $889.0M | $633.0M | +247.27% | +11.48% |
| Q4 2021 | 2021-12-31 | $3.74B | $721.0M | +23.86% | +46.19% |
| Q3 2021 | 2021-09-30 | $3.72B | $256.0M | +7.39% | +45.78% |
| Q2 2021 | 2021-06-30 | $3.50B | $1.72B | +96.19% | +46.12% |
| Q1 2021 | 2021-03-31 | $256.0M | −$685.0M | −72.79% | +3.38% |
| Q4 2020 | 2020-12-31 | $3.02B | −$146.0M | −4.61% | +40.60% |
| Q3 2020 | 2020-09-30 | $3.46B | $1.57B | +83.27% | +46.49% |
| Q2 2020 | 2020-06-30 | $1.78B | −$1.48B | −45.31% | +26.84% |
| Q1 2020 | 2020-03-31 | $941.0M | $24.0M | +2.62% | +13.16% |
| Q4 2019 | 2019-12-31 | $3.17B | $1.08B | +51.72% | +41.07% |
| Q3 2019 | 2019-09-30 | $1.89B | $534.0M | +39.41% | +24.72% |
| Q2 2019 | 2019-06-30 | $3.26B | −$320.0M | −8.93% | +42.40% |
| Q1 2019 | 2019-03-31 | $917.0M | −$98.0M | −9.66% | +13.58% |
| Q4 2018 | 2018-12-31 | $2.09B | −$280.0M | −11.82% | +27.84% |
| Q3 2018 | 2018-09-30 | $1.35B | −$130.0M | −8.75% | +18.06% |
| Q2 2018 | 2018-06-30 | $3.58B | $624.0M | +21.08% | +46.39% |
| Q1 2018 | 2018-03-31 | $1.01B | $464.0M | +84.21% | +14.72% |
| Q4 2017 | 2017-12-31 | $2.37B | $657.0M | +38.40% | +28.55% |
| Q3 2017 | 2017-09-30 | $1.49B | −$1.35B | −47.67% | +19.87% |
| Q2 2017 | 2017-06-30 | $2.96B | $840.0M | +39.62% | +42.79% |
| Q1 2017 | 2017-03-31 | $551.0M | $315.0M | +133.47% | +9.09% |
| Q4 2016 | 2016-12-31 | $1.71B | $163.0M | +10.53% | — |
| Q3 2016 | 2016-09-30 | $2.84B | $368.0M | +14.90% | +14.24% |
| Q2 2016 | 2016-06-30 | $2.12B | −$1.34B | −38.82% | +11.13% |
| Q1 2016 | 2016-03-31 | $236.0M | $814.0M | — | +1.41% |
| Q4 2015 | 2015-12-31 | $1.55B | $543.0M | +54.03% | +8.43% |
| Q3 2015 | 2015-09-30 | $2.47B | −$199.0M | −7.46% | +12.72% |
| Q2 2015 | 2015-06-30 | $3.46B | $1.01B | +41.26% | +18.47% |
| Q1 2015 | 2015-03-31 | −$578.0M | −$1.04B | — | −3.33% |
| Q4 2014 | 2014-12-31 | $1.00B | −$936.0M | −48.22% | +5.04% |
| Q3 2014 | 2014-09-30 | $2.67B | −$345.0M | −11.45% | +12.51% |
| Q2 2014 | 2014-06-30 | $2.45B | −$404.0M | −14.14% | +11.65% |
| Q1 2014 | 2014-03-31 | $459.0M | −$664.0M | −59.13% | +2.58% |
| Q4 2013 | 2013-12-31 | $1.94B | $628.0M | +47.83% | +9.52% |
| Q3 2013 | 2013-09-30 | $3.01B | $864.0M | +40.19% | +14.61% |
| Q2 2013 | 2013-06-30 | $2.86B | −$374.0M | −11.58% | +13.95% |
| Q1 2013 | 2013-03-31 | $1.12B | −$548.0M | −32.79% | +6.06% |
| Q4 2012 | 2012-12-31 | $1.31B | $681.0M | +107.75% | +6.65% |
| Q3 2012 | 2012-09-30 | $2.15B | −$680.0M | −24.03% | +10.97% |
| Q2 2012 | 2012-06-30 | $3.23B | −$703.0M | −17.87% | +16.13% |
| Q1 2012 | 2012-03-31 | $1.67B | −$565.0M | −25.27% | +9.27% |
| Q4 2011 | 2011-12-31 | $632.0M | −$719.0M | −53.22% | +3.35% |
| Q3 2011 | 2011-09-30 | $2.83B | $577.0M | +25.61% | +13.67% |
| Q2 2011 | 2011-06-30 | $3.93B | $638.0M | +19.36% | +19.44% |
| Q1 2011 | 2011-03-31 | $2.24B | $412.0M | +22.59% | +13.53% |
| Q4 2010 | 2010-12-31 | $1.35B | $118.0M | +9.57% | +7.59% |
| Q3 2010 | 2010-09-30 | $2.25B | $567.0M | +33.63% | +13.30% |
| Q2 2010 | 2010-06-30 | $3.30B | $328.0M | +11.05% | +18.96% |
| Q1 2010 | 2010-03-31 | $1.82B | $542.0M | +42.28% | +11.70% |
| Q4 2009 | 2009-12-31 | $1.23B | −$520.0M | −29.66% | +7.25% |
| Q3 2009 | 2009-09-30 | $1.69B | — | — | +10.17% |
| Q2 2009 | 2009-06-30 | $2.97B | — | — | +19.51% |
| Q1 2009 | 2009-03-31 | $1.28B | — | — | +9.65% |
| Q3 2008 | 2008-09-30 | $1.75B | — | — | +10.10% |
Philip Morris International free cash flow growth trends
Over the last five reported fiscal years, free cash flow grew from $9.21B to $10.66B, a compound annual growth rate of 2.98%. Philip Morris International's latest reported quarter, Q2 2026, generated $5.11B in free cash flow, an increase of 67.28% year over year.
About the metric
What free cash flow means
Free cash flow is the cash a company generates from operations after capital expenditures. Positive FCF can fund dividends, buybacks, debt repayment, or reinvestment; negative FCF means capital spending exceeded operating cash flow for that period.
Calculation and source
How free cash flow is calculated
TickerStat calculates free cash flow as SEC-reported operating cash flow minus capital expenditures. FCF margin equals free cash flow divided by revenue. Fiscal periods can differ from calendar years, so the tables include exact period-end dates.
Review Philip Morris International filings at SEC.gov ↗