Philip Morris International annual net debt
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2025
Philip Morris International Net Debt Growth & History (PM)
Philip Morris International's net debt was $44.70B for fiscal 2025.
View full Philip Morris International company overviewPhilip Morris International annual net debt history
| Fiscal year | Period ended | Net debt | Change | Growth |
|---|---|---|---|---|
| 2025 | 2025-12-31 | $44.70B | $2.61B | +6.21% |
| 2024 | 2024-12-31 | $42.08B | −$3.42B | −7.51% |
| 2023 | 2023-12-31 | $45.50B | $4.97B | +12.27% |
| 2022 | 2022-12-31 | $40.53B | $16.68B | +69.97% |
| 2021 | 2021-12-31 | $23.85B | −$1.12B | −4.47% |
| 2020 | 2020-12-31 | $24.96B | $16.0M | +0.06% |
| 2019 | 2019-12-31 | $24.95B | −$219.0M | −0.87% |
| 2018 | 2018-12-31 | $25.17B | −$726.0M | −2.80% |
| 2017 | 2017-12-31 | $25.89B | $1.06B | +4.29% |
| 2016 | 2016-12-31 | $24.83B | −$235.0M | −0.94% |
| 2015 | 2015-12-31 | $25.06B | −$2.71B | −9.76% |
| 2014 | 2014-12-31 | $27.77B | $2.25B | +8.81% |
| 2013 | 2013-12-31 | $25.52B | $8.45B | +49.48% |
| 2012 | 2012-12-31 | $17.07B | $995.0M | +6.19% |
| 2011 | 2011-12-31 | $16.08B | $1.14B | +7.66% |
| 2010 | 2010-12-31 | $14.94B | $855.0M | +6.07% |
| 2009 | 2009-12-31 | $14.08B | $3.65B | +35.00% |
| 2008 | 2008-12-31 | $10.43B | — | — |
Philip Morris International quarterly net debt
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Q2.09
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Q3.24
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Q1.25
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Q1.26
Q2.26
| Fiscal quarter | Period ended | Net debt | Change | YoY change |
|---|---|---|---|---|
| Q2 2026 | 2026-06-30 | $43.11B | −$4.21B | −8.90% |
| Q1 2026 | 2026-03-31 | $46.50B | $1.36B | +3.02% |
| Q4 2025 | 2025-12-31 | $44.70B | $2.61B | +6.21% |
| Q3 2025 | 2025-09-30 | $46.05B | $1.08B | +2.40% |
| Q2 2025 | 2025-06-30 | $47.32B | $2.99B | +6.75% |
| Q1 2025 | 2025-03-31 | $45.14B | −$1.28B | −2.76% |
| Q4 2024 | 2024-12-31 | $42.08B | −$3.42B | −7.51% |
| Q3 2024 | 2024-09-30 | $44.96B | $266.0M | +0.60% |
| Q2 2024 | 2024-06-30 | $44.33B | −$69.0M | −0.16% |
| Q1 2024 | 2024-03-31 | $46.42B | $1.73B | +3.86% |
| Q4 2023 | 2023-12-31 | $45.50B | $4.97B | +12.27% |
| Q3 2023 | 2023-09-30 | $44.70B | $22.84B | +104.54% |
| Q2 2023 | 2023-06-30 | $44.40B | $21.39B | +92.91% |
| Q1 2023 | 2023-03-31 | $44.69B | $19.96B | +80.69% |
| Q4 2022 | 2022-12-31 | $40.53B | $16.68B | +69.97% |
| Q3 2022 | 2022-09-30 | $21.85B | −$2.76B | −11.22% |
| Q2 2022 | 2022-06-30 | $23.02B | −$1.23B | −5.06% |
| Q1 2022 | 2022-03-31 | $24.73B | −$761.0M | −2.98% |
| Q4 2021 | 2021-12-31 | $23.85B | −$1.12B | −4.47% |
| Q3 2021 | 2021-09-30 | $24.61B | −$55.0M | −0.22% |
| Q2 2021 | 2021-06-30 | $24.24B | −$1.19B | −4.66% |
| Q1 2021 | 2021-03-31 | $25.50B | $872.0M | +3.54% |
| Q4 2020 | 2020-12-31 | $24.96B | $16.0M | +0.06% |
| Q3 2020 | 2020-09-30 | $24.67B | −$1.35B | −5.20% |
| Q2 2020 | 2020-06-30 | $25.43B | −$1.16B | −4.37% |
| Q1 2020 | 2020-03-31 | $24.62B | −$3.27B | −11.71% |
| Q4 2019 | 2019-12-31 | $24.95B | −$219.0M | −0.87% |
| Q3 2019 | 2019-09-30 | $26.02B | $135.0M | +0.52% |
| Q2 2019 | 2019-06-30 | $26.59B | $1.51B | +6.03% |
| Q1 2019 | 2019-03-31 | $27.89B | $241.0M | +0.87% |
| Q4 2018 | 2018-12-31 | $25.17B | −$726.0M | −2.80% |
| Q3 2018 | 2018-09-30 | $25.89B | −$422.0M | −1.60% |
| Q2 2018 | 2018-06-30 | $25.08B | −$472.0M | −1.85% |
| Q1 2018 | 2018-03-31 | $27.65B | $1.38B | +5.25% |
| Q4 2017 | 2017-12-31 | $25.89B | $1.06B | +4.29% |
| Q3 2017 | 2017-09-30 | $26.31B | $1.10B | +4.38% |
| Q2 2017 | 2017-06-30 | $25.55B | −$605.0M | −2.31% |
| Q1 2017 | 2017-03-31 | $26.27B | −$579.0M | −2.16% |
| Q4 2016 | 2016-12-31 | $24.83B | −$235.0M | −0.94% |
| Q3 2016 | 2016-09-30 | $25.20B | −$1.31B | −4.94% |
| Q2 2016 | 2016-06-30 | $26.16B | −$1.21B | −4.42% |
| Q1 2016 | 2016-03-31 | $26.85B | −$2.21B | −7.61% |
| Q4 2015 | 2015-12-31 | $25.06B | −$2.71B | −9.76% |
| Q3 2015 | 2015-09-30 | $26.51B | −$286.0M | −1.07% |
| Q2 2015 | 2015-06-30 | $27.36B | −$197.0M | −0.71% |
| Q1 2015 | 2015-03-31 | $29.06B | $1.61B | +5.87% |
| Q4 2014 | 2014-12-31 | $27.77B | $2.25B | +8.81% |
| Q3 2014 | 2014-09-30 | $26.80B | $4.64B | +20.92% |
| Q2 2014 | 2014-06-30 | $27.56B | $6.90B | +33.42% |
| Q1 2014 | 2014-03-31 | $27.45B | $9.10B | +49.56% |
| Q4 2013 | 2013-12-31 | $25.52B | $8.45B | +49.48% |
| Q3 2013 | 2013-09-30 | $22.16B | $7.32B | +49.31% |
| Q2 2013 | 2013-06-30 | $20.66B | $6.99B | +51.09% |
| Q1 2013 | 2013-03-31 | $18.35B | $1.02B | +5.87% |
| Q4 2012 | 2012-12-31 | $17.07B | $995.0M | +6.19% |
| Q3 2012 | 2012-09-30 | $14.84B | $379.0M | +2.62% |
| Q2 2012 | 2012-06-30 | $13.67B | −$1.18B | −7.95% |
| Q1 2012 | 2012-03-31 | $17.34B | $1.69B | +10.77% |
| Q4 2011 | 2011-12-31 | $16.08B | $1.14B | +7.66% |
| Q3 2011 | 2011-09-30 | $14.46B | $372.0M | +2.64% |
| Q2 2011 | 2011-06-30 | $14.85B | $1.04B | +7.54% |
| Q1 2011 | 2011-03-31 | $15.65B | $491.0M | +3.24% |
| Q4 2010 | 2010-12-31 | $14.94B | $855.0M | +6.07% |
| Q3 2010 | 2010-09-30 | $14.09B | $1.44B | +11.42% |
| Q2 2010 | 2010-06-30 | $13.81B | $2.34B | +20.39% |
| Q1 2010 | 2010-03-31 | $15.16B | — | — |
| Q4 2009 | 2009-12-31 | $14.08B | $3.65B | +35.00% |
| Q3 2009 | 2009-09-30 | $12.65B | — | — |
| Q2 2009 | 2009-06-30 | $11.47B | — | — |
| Q4 2008 | 2008-12-31 | $10.43B | — | — |
Philip Morris International net debt trends
Over the last five fiscal years, Philip Morris International's net debt increased from $24.96B to $44.70B, a change of $19.73B. The latest reported quarter, Q2 2026, shows $43.11B.
About the metric
What net debt means
Net debt compares a company’s interest-bearing debt with its cash and cash equivalents. Positive net debt means debt exceeds cash, while a negative value indicates the company has more cash than debt on this measure.
Calculation and source
How net debt is calculated
TickerStat calculates net debt as total interest-bearing debt minus cash and cash equivalents at the same reporting-period end. Short-term investments are not subtracted because they are not included in the standardized cash series. Fiscal periods can differ from calendar years, so exact period-end dates are included.
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