Focused on building reliable datasets, financial models, and research tools for value-minded investors. Committed to turning complex data into practical guidance for value-investing and long-term wealth.
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.
A high debt to equity ratio generally means that a company has been aggressive in financing its growth with debt. This can result in volatile earnings as a result of the additional interest expense.
The historical rank and industry rank for Philip Morris International's Debt-to-Equity or its related term are showing as below:
PM'
s Debt-to-Equity Range Over the Past 10 Years
Min: -5.6 Med: -2.83 Max: -2.19
Current: -5.6
During the past 13 years, the highest Debt-to-Equity Ratio of Philip Morris International was -2.19. The lowest was -5.60. And the median was -2.83.
PM's Debt-to-Equity is not ranked
in the Tobacco Products industry.
Industry Median: 0.37
vs PM: -5.60
Philip Morris International (NYSE:PM) Debt-to-Equity Explanation
Because a company can increase its ROE % by having more financial leverage, it is important to watch the leverage ratio when investing in high ROE % companies.
Philip Morris International Debt-to-Equity Related Terms
Philip Morris International Debt-to-Equity Historical Data
* 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.
For the Tobacco subindustry, Philip Morris International's Debt-to-Equity, along with its competitors' market caps and Debt-to-Equity 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 Debt-to-Equity vs Tobacco Products Industry
For the Tobacco Products industry and Consumer Defensive sector, Philip Morris International's Debt-to-Equity distribution charts can be found below:
* The bar in red indicates where Philip Morris International's Debt-to-Equity falls into.
* 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 (PM) has a Debt-to-Equity of -5.60 as of Mar. 2026. Debt-to-Equity ratio represents the ratio of total debt to total company equity. View historical data on Philip Morris International and its competitors. According to the industry distribution chart, Philip Morris International ranks #999999 out of 35 companies in the Tobacco Products industry.
Is Philip Morris International's Debt-to-Equity too high?
Philip Morris International's current Debt-to-Equity is -5.60. Based on the distribution chart, Philip Morris International ranks #999999 out of 35 companies in the Tobacco Products industry, which is in the bottom quartile relative to peers. Overall, Philip Morris International has a GF Score™ of 86/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Philip Morris International's Debt-to-Equity compare to MO and TPB?
According to the Tobacco Products industry distribution chart, Philip Morris International ranks #999999 out of 35 companies for Debt-to-Equity. This places Philip Morris International in the lower half of its industry. The industry median Debt-to-Equity is 0.37. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Debt-to-Equity for a Tobacco Products company?
The median Debt-to-Equity among Tobacco Products companies is 0.37, based on 35 companies in the industry. Companies in the top quartile (top 25%) have a Debt-to-Equity significantly above this median, while those in the bottom quartile fall well below. However, Debt-to-Equity should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Debt-to-Equity mean?
A high Debt-to-Equity can signal that a stock is expensive relative to its fundamentals. Debt-to-Equity ratio represents the ratio of total debt to total company equity. View historical data on Philip Morris International and its competitors. For the Tobacco Products industry, the median Debt-to-Equity is 0.37 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Philip Morris International's current Debt-to-Equity is -5.60. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Philip Morris International stock overvalued right now?
Based on GuruFocus' analysis, Philip Morris International (PM) is currently considered Significantly Overvalued. The stock's GF Value™ is $143.49, compared to a current price of $193.52 — trading 34.9% above its estimated fair value. The current Debt-to-Equity is -5.60. Philip Morris International's overall GF Score™ is 86/100 with 7 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Debt-to-Equity calculated?
Debt-to-Equity is calculated from a company's financial statements. For Philip Morris International (PM), the current Debt-to-Equity is -5.60 as of Mar. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is Philip Morris International (PM) Overvalued in 2026?
Based on GuruFocus' analysis, Philip Morris International stock appears to be overvalued.
The current stock price of $193.52 is trading 34.9% above its estimated GF Value™ of $143.49.
GuruFocus considers Philip Morris International to be Significantly Overvalued.
Key valuation signals for PM:
Debt-to-Equity: -5.60
GF Value™: $143.49 vs. price of $193.52 (34.9% above fair value)
No single metric tells the full story. See the PM stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
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.
86GF Score
Get the complete analysis for PM
Debt-to-Equity is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
PM has been successfully added to your 
