Philip Morris International annual operating margin
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2025
Philip Morris International Operating Margin Growth & History (PM)
Philip Morris International's operating margin was 36.64% for fiscal 2025.
View full Philip Morris International company overviewPhilip Morris International annual operating margin history
| Fiscal year | Period ended | Operating margin | Change (percentage points) |
|---|---|---|---|
| 2025 | 2025-12-31 | 36.64% | +1.25 pp |
| 2024 | 2024-12-31 | 35.38% | +2.53 pp |
| 2023 | 2023-12-31 | 32.85% | −5.70 pp |
| 2022 | 2022-12-31 | 38.56% | −2.76 pp |
| 2021 | 2021-12-31 | 41.32% | +0.65 pp |
| 2020 | 2020-12-31 | 40.66% | +5.33 pp |
| 2019 | 2019-12-31 | 35.33% | −3.07 pp |
| 2018 | 2018-12-31 | 38.40% | −1.88 pp |
| 2017 | 2017-12-31 | 40.28% | −0.57 pp |
| 2016 | 2016-12-31 | 40.86% | +26.48 pp |
| 2015 | 2015-12-31 | 14.37% | −0.23 pp |
| 2014 | 2014-12-31 | 14.61% | −2.28 pp |
| 2013 | 2013-12-31 | 16.89% | −1.02 pp |
| 2012 | 2012-12-31 | 17.91% | +0.44 pp |
| 2011 | 2011-12-31 | 17.48% | +0.94 pp |
| 2010 | 2010-12-31 | 16.54% | +0.37 pp |
| 2009 | 2009-12-31 | 16.17% | +0.07 pp |
| 2008 | 2008-12-31 | 16.10% | +0.00 pp |
| 2007 | 2007-12-31 | 16.10% | — |
Philip Morris International quarterly operating margin
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Q2.26
| Fiscal quarter | Period ended | Operating margin | Change (percentage points) |
|---|---|---|---|
| Q2 2026 | 2026-06-30 | 40.48% | +3.87 pp |
| Q1 2026 | 2026-03-31 | 38.37% | +0.27 pp |
| Q4 2025 | 2025-12-31 | 32.55% | −1.03 pp |
| Q3 2025 | 2025-09-30 | 39.31% | +2.44 pp |
| Q2 2025 | 2025-06-30 | 36.61% | +0.23 pp |
| Q1 2025 | 2025-03-31 | 38.10% | +3.47 pp |
| Q4 2024 | 2024-12-31 | 33.58% | +1.64 pp |
| Q3 2024 | 2024-09-30 | 36.87% | +0.00 pp |
| Q2 2024 | 2024-06-30 | 36.38% | +7.76 pp |
| Q1 2024 | 2024-03-31 | 34.63% | +0.57 pp |
| Q4 2023 | 2023-12-31 | 31.93% | −3.94 pp |
| Q3 2023 | 2023-09-30 | 36.87% | −0.09 pp |
| Q2 2023 | 2023-06-30 | 28.62% | −10.40 pp |
| Q1 2023 | 2023-03-31 | 34.06% | −8.52 pp |
| Q4 2022 | 2022-12-31 | 35.87% | −0.50 pp |
| Q3 2022 | 2022-09-30 | 36.95% | −5.59 pp |
| Q2 2022 | 2022-06-30 | 39.02% | −2.18 pp |
| Q1 2022 | 2022-03-31 | 42.58% | −2.83 pp |
| Q4 2021 | 2021-12-31 | 36.36% | −2.66 pp |
| Q3 2021 | 2021-09-30 | 42.54% | −1.01 pp |
| Q2 2021 | 2021-06-30 | 41.20% | +0.14 pp |
| Q1 2021 | 2021-03-31 | 45.41% | +6.41 pp |
| Q4 2020 | 2020-12-31 | 39.02% | +6.53 pp |
| Q3 2020 | 2020-09-30 | 43.55% | +7.07 pp |
| Q2 2020 | 2020-06-30 | 41.06% | −0.33 pp |
| Q1 2020 | 2020-03-31 | 38.99% | +8.62 pp |
| Q4 2019 | 2019-12-31 | 32.49% | −3.54 pp |
| Q3 2019 | 2019-09-30 | 36.48% | −5.57 pp |
| Q2 2019 | 2019-06-30 | 41.39% | +1.36 pp |
| Q1 2019 | 2019-03-31 | 30.37% | −4.81 pp |
| Q4 2018 | 2018-12-31 | 36.03% | −4.24 pp |
| Q3 2018 | 2018-09-30 | 42.06% | +0.74 pp |
| Q2 2018 | 2018-06-30 | 40.03% | +0.46 pp |
| Q1 2018 | 2018-03-31 | 35.18% | −4.66 pp |
| Q4 2017 | 2017-12-31 | 40.27% | +25.34 pp |
| Q3 2017 | 2017-09-30 | 41.32% | +26.86 pp |
| Q2 2017 | 2017-06-30 | 39.57% | +24.84 pp |
| Q1 2017 | 2017-03-31 | 39.84% | +29.49 pp |
| Q3 2016 | 2016-09-30 | 14.93% | −0.30 pp |
| Q2 2016 | 2016-06-30 | 14.46% | −0.96 pp |
| Q1 2016 | 2016-03-31 | 14.73% | −1.81 pp |
| Q4 2015 | 2015-12-31 | 10.35% | −2.35 pp |
| Q3 2015 | 2015-09-30 | 15.24% | −0.44 pp |
| Q2 2015 | 2015-06-30 | 15.41% | +1.76 pp |
| Q1 2015 | 2015-03-31 | 16.55% | −0.05 pp |
| Q4 2014 | 2014-12-31 | 12.70% | −2.94 pp |
| Q3 2014 | 2014-09-30 | 15.68% | −1.77 pp |
| Q2 2014 | 2014-06-30 | 13.65% | −2.64 pp |
| Q1 2014 | 2014-03-31 | 16.60% | −1.70 pp |
| Q4 2013 | 2013-12-31 | 15.64% | −0.74 pp |
| Q3 2013 | 2013-09-30 | 17.45% | −1.05 pp |
| Q2 2013 | 2013-06-30 | 16.29% | −1.70 pp |
| Q1 2013 | 2013-03-31 | 18.30% | −0.58 pp |
| Q4 2012 | 2012-12-31 | 16.38% | +0.77 pp |
| Q3 2012 | 2012-09-30 | 18.49% | +0.73 pp |
| Q2 2012 | 2012-06-30 | 17.99% | −0.36 pp |
| Q1 2012 | 2012-03-31 | 18.88% | +0.69 pp |
| Q4 2011 | 2011-12-31 | 15.61% | +0.20 pp |
| Q3 2011 | 2011-09-30 | 17.76% | +1.01 pp |
| Q2 2011 | 2011-06-30 | 18.35% | +1.63 pp |
| Q1 2011 | 2011-03-31 | 18.19% | +0.77 pp |
| Q4 2010 | 2010-12-31 | 15.40% | +1.05 pp |
| Q3 2010 | 2010-09-30 | 16.75% | −0.45 pp |
| Q2 2010 | 2010-06-30 | 16.72% | +0.75 pp |
| Q1 2010 | 2010-03-31 | 17.42% | −0.04 pp |
| Q4 2009 | 2009-12-31 | 14.35% | −2.29 pp |
| Q3 2009 | 2009-09-30 | 17.20% | +1.58 pp |
| Q2 2009 | 2009-06-30 | 15.97% | — |
| Q1 2009 | 2009-03-31 | 17.46% | — |
| Q3 2008 | 2008-09-30 | 16.64% | — |
| Q2 2008 | 2008-06-30 | 15.61% | — |
Philip Morris International operating margin trends
Over the last five reported fiscal years, Philip Morris International's operating margin decreased from 40.66% to 36.64%, a change of −4.03 percentage points. The latest reported quarter, Q2 2026, shows 40.48%.
About the metric
What operating margin means
Operating margin measures the percentage of revenue left after operating costs and expenses. It shows how much operating profit a company generates from each dollar of revenue.
Calculation and source
How operating margin is calculated
TickerStat calculates operating margin as SEC-reported operating income divided by SEC-reported revenue for the same fiscal period. Changes are shown in percentage points. Fiscal periods can differ from calendar years, so exact period-end dates are included.
Review Philip Morris International filings at SEC.gov ↗