Philip Morris International (CHIX:PMIZ) Cyclically Adjusted PS Ratio: (As of Jul. 25, 2026)

Author: Vera Yuan Vera Yuan
Vera Yuan
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Director of Data and Quant Analytics at GuruFocus
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Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.

CHIX:PMIZ Philip Morris International Inc CHIX:PMIZ
87 GF Score
Price CHF113.00
GF Value CHF84.85
! 7 Warning Signs
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What is Philip Morris International Cyclically Adjusted PS Ratio?

Shiller PE for Stocks: The True Measure of Stock Valuation


Philip Morris International  (CHIX:PMIz) Cyclically Adjusted PS Ratio Explanation

Compared with the regular PS Ratio, which works poorly for cyclical businesses, the Cyclically Adjusted PS Ratio smoothed out the fluctuations of revenue during business cycles. Therefore it is more accurate in reflecting the valuation of the company.

If a company has consistent business performance, the Cyclically Adjusted PS Ratio should give similar results to regular PS Ratio.


Philip Morris International Cyclically Adjusted PS Ratio Related Terms


Philip Morris International Cyclically Adjusted PS Ratio Historical Data

* Premium members only.

The historical data trend for Philip Morris International's Cyclically Adjusted PS Ratio can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

Philip Morris International Cyclically Adjusted PS Ratio Chart

Philip Morris International Annual Data
Trend Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
Cyclically Adjusted PS Ratio
Get a 7-Day Free Trial Premium Member Only Premium Member Only 4.49 4.56 4.15 5.18 6.65

Philip Morris International Quarterly Data
Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26 Jun26
Cyclically Adjusted PS Ratio Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 7.64 6.74 6.65 6.70 0.00

CHIX:PMIZ vs MO, TPB, UVV: Cyclically Adjusted PS Ratio Comparison

For the Tobacco subindustry, Philip Morris International's Cyclically Adjusted PS Ratio, along with its competitors' market caps and Cyclically Adjusted PS Ratio data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.


Philip Morris International Cyclically Adjusted PS Ratio vs Tobacco Products Industry

For the Tobacco Products industry and Consumer Defensive sector, Philip Morris International's Cyclically Adjusted PS Ratio distribution charts can be found below:

* The bar in red indicates where Philip Morris International's Cyclically Adjusted PS Ratio falls into.


CHIX:PMIZ
87GF Score
Philip Morris International Inc CHIX:PMIZ
Cyclically Adjusted PS Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
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Philip Morris International Cyclically Adjusted PS Ratio Calculation

Like the Shiller PE Ratio, the Cyclically Adjusted PS Ratio takes the Revenue per Share from the past 10 years, adjusts it for inflation, and then calculates the average. This average is then used for the P/S calculation. Because it considers this 10-year average, it's often referred to as the CAPS Ratio.

The Shiller PE Ratio was first used by professor Robert Shiller to measure the valuation of the overall market. The similar calculation is applied by GuruFocus to calculate the Cyclically Adjusted PS Ratio.

Philip Morris International's Cyclically Adjusted Revenue per Share for the quarter that ended in Jun. 2026 is calculated as:

For example, Philip Morris International's adjusted Revenue per Share data for the three months ended in Jun. 2026 was:

Adj_RevenuePerShare=Revenue per Share/CPI of Jun. 2026 (Change)*Current CPI (Jun. 2026)
=0.717/333.9520*333.9520
=0.717

Current CPI (Jun. 2026) = 333.9520.

Philip Morris International Quarterly Data

Revenue per Share CPI Adj_RevenuePerShare
201609 0.548 241.428 0.758
201612 0.573 241.432 0.793
201703 0.489 243.801 0.670
201706 0.539 244.955 0.735
201709 0.579 246.819 0.783
201712 0.659 246.524 0.893
201803 0.526 249.554 0.704
201806 0.615 251.989 0.815
201809 0.584 252.439 0.773
201812 0.598 251.233 0.795
201903 0.543 254.202 0.713
201906 0.611 256.143 0.797
201909 0.608 256.759 0.791
201912 0.609 256.974 0.791
202003 0.551 258.115 0.713
202006 0.508 257.797 0.658
202009 0.547 260.280 0.702
202012 0.530 260.474 0.680
202103 0.565 264.877 0.712
202106 0.552 271.696 0.678
202109 0.601 274.310 0.732
202112 0.599 278.802 0.717
202203 0.580 287.504 0.674
202206 0.612 296.311 0.690
202209 0.630 296.808 0.709
202212 0.612 296.797 0.689
202303 0.597 301.836 0.661
202306 0.650 305.109 0.711
202309 0.661 307.789 0.717
202312 0.630 306.746 0.686
202403 0.628 312.332 0.671
202406 0.680 314.175 0.723
202409 0.675 315.301 0.715
202412 0.695 315.605 0.735
202503 0.660 319.799 0.689
202506 0.662 322.561 0.685
202509 0.693 324.800 0.713
202512 0.663 324.054 0.683
202603 0.640 330.213 0.647
202606 0.717 333.952 0.717

Add all the adjusted revenue per share together and divide 10 will get our Cyclically Adjusted Revenue per Share.

Please note that we use the CPI data of the country/region where the company is headquartered. If the CPI data for that country/region is not available, then we will use the CPI data of the United States as default.

Is Philip Morris International (CHIX:PMIZ) Overvalued in 2026?

Based on GuruFocus' analysis, Philip Morris International stock appears to be overvalued. The current stock price of CHF113.00 is trading 33.2% above its estimated GF Value™ of CHF84.85.

Key valuation signals for CHIX:PMIZ:

  • Cyclically Adjusted PS Ratio:
  • GF Value™: CHF84.85 vs. price of CHF113.00 (33.2% above fair value)
  • GF Score™: 87/100 with 7 warning signs

No single metric tells the full story. See the CHIX:PMIZ stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


Philip Morris International Business Description

Address 677 Washington Boulevard, Suite 1100, Stamford, CT, USA, 06901
Created from the international operations of Altria in 2008, Philip Morris International sells cigarettes and reduced-risk products, including heat sticks, vapes, and oral nicotine offerings, primarily outside of the US. With the 2023 acquisition of Swedish Match, a leading manufacturer of traditional oral tobacco products and nicotine pouches primarily in the US and Scandinavia, PMI is not only dominant in smokable products but also has the Iqos and Zyn brands, which respectively dominate heated tobacco and nicotine pouches in most markets. It also owns the Veev brand in vapes.
87GF Score

Get the complete analysis for CHIX:PMIZ

Cyclically Adjusted PS Ratio is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

CHF113.00
Price
CHF84.85
GF Value