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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| 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% | +8.92% |
| 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 | — | — | +7.25% |
| Q3 2009 | 2009-09-30 | $1.69B | −$67.0M | −3.82% | +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 $5.11B in free cash flow, an increase of 67.28% year over year.
About the metric
What free cash flow means
Free cash flow is the cash a company generates from operations after capital expenditures. Positive FCF can fund dividends, buybacks, debt repayment, or reinvestment; negative FCF means capital spending exceeded operating cash flow for that period.
Calculation and source
How free cash flow is calculated
TickerStat calculates free cash flow as reported operating cash flow minus capital expenditures. FCF margin equals free cash flow divided by revenue. Fiscal periods can differ from calendar years, so the tables include exact period-end dates.
Review Philip Morris International source filings ↗Community posts
Philip Morris raises its quarterly dividend by 8.8%
Philip Morris ($PM) International’s board increased the quarterly dividend to $1.60 per share from $1.47, an 8.8% rise. The new rate implies an annualized payment of $6.40 per share. The dividend is payable on October 26 to shareholders of ...
