Philip Morris International (XSWX:PMI) EBIT: CHF12,637 Mil (TTM As of Mar. 2026)


XSWX:PMI Philip Morris International Inc XSWX:PMI
87 GF Score
Price CHF145.00
GF Value CHF115.94
Valuation Modestly Overvalued
! 7 Warning Signs
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What is Philip Morris International EBIT?

Philip Morris International XSWX:PMI 87 EBIT is CHF12,637 Mil as of Mar. 2026. GuruFocus rates XSWX:PMI with a GF Score™ of 87/100 and a GF Value™ of CHF115.94 (Modestly Overvalued). The stock has 7 warning signs investors should review.

Philip Morris International's earnings before interest and taxes (EBIT) for the three months ended in Mar. 2026 was CHF3,069 Mil. Its earnings before interest and taxes (EBIT) for the trailing twelve months (TTM) ended in Mar. 2026 was CHF12,637 Mil.

EBIT or Operating Income is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Philip Morris International's annualized ROC % for the quarter that ended in Mar. 2026 was 24.57%. Philip Morris International's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was 177.60%.

EBIT is also linked to Joel Greenblatt's definition of earnings yield. Philip Morris International's Earnings Yield (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was 4.77%.


Philip Morris International  (XSWX:PMI) EBIT Explanation

1. EBIT or Operating Income is linked to Return on Capital for both regular definition and Joel Greenblatt's definition.

Philip Morris International's annualized ROC % for the quarter that ended in Mar. 2026 is calculated as:

ROC % (Q: Mar. 2026 )
=NOPAT/Average Invested Capital
=Operating Income * ( 1 - Tax Rate % )/( (Invested Capital (Q: Dec. 2025 ) + Invested Capital (Q: Mar. 2026 ))/ count )
=12259.836 * ( 1 - 18.46% )/( (39899.189 + 41473.389)/ 2 )
=9996.6702744/40686.289
=24.57 %

where

Invested Capital(Q: Dec. 2025 )
=Total Assets - Accounts Payable & Accrued Expense - Excess Cash
=Total Assets - Accounts Payable & Accrued Expense - ( Cash, Cash Equivalents, Marketable Securities - max(0, Total Current Liabilities - Total Current Assets+Cash, Cash Equivalents, Marketable Securities))
=55133.527 - 16082.239 - ( 3882.497 - max(0, 20262.776 - 19414.875+3882.497))
=39899.189

Invested Capital(Q: Mar. 2026 )
=Total Assets - Accounts Payable & Accrued Expense - Excess Cash
=Total Assets - Accounts Payable & Accrued Expense - ( Cash, Cash Equivalents, Marketable Securities - max(0, Total Current Liabilities - Total Current Assets+Cash, Cash Equivalents, Marketable Securities))
=54255.205 - 13269.942 - ( 4290.785 - max(0, 20644.581 - 20156.455+4290.785))
=41473.389

Note: The Operating Income data used here is four times the quarterly (Mar. 2026) data.

2. Joel Greenblatt's definition of Return on Capital:

Philip Morris International's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 is calculated as:

ROC (Joel Greenblatt) %(Q: Mar. 2026 )
=EBIT/Average of (Net fixed Assets + Net Working Capital)
=EBIT/Average of (Property, Plant and Equipment+Net Working Capital)
     Q: Dec. 2025  Q: Mar. 2026
=EBIT/( ( (Property, Plant and Equipment + Net Working Capital) + (Property, Plant and Equipment + Net Working Capital) )/ count )
=12275.58/( ( (6691.569 + max(-2767.633, 0)) + (6502.311 + max(629.84, 0)) )/ 2 )
=12275.58/( ( 6691.569 + 7132.151 )/ 2 )
=12275.58/6911.86
=177.60 %

where Working Capital is:

Working Capital(Q: Dec. 2025 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(3643.427 + 9146.818 + 1755.571) - (16082.239 + 0 + 1231.21)
=-2767.633

Working Capital(Q: Mar. 2026 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(4030.976 + 8968.922 + 1865.901) - (13269.942 + 0 + 966.017)
=629.84

When net working capital is negative, 0 is used.

Note: The EBIT data used here is four times the quarterly (Mar. 2026) EBIT data.

3. It is also linked to Joel Greenblatt's definition of Earnings Yield:

Philip Morris International's Earnings Yield (Joel Greenblatt) % for today is calculated as:

Earnings Yield (Joel Greenblatt) %=EBIT (TTM)/Enterprise Value (Q: Mar. 2026 )
=12636.824/264874.806
=4.77 %

* 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 EBIT Related Terms


Philip Morris International EBIT Historical Data

* Premium members only.

The historical data trend for Philip Morris International's EBIT 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 EBIT Chart

Philip Morris International Annual Data
Trend Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
EBIT
Get a 7-Day Free Trial Premium Member Only Premium Member Only 11,944.45 11,553.70 10,356.85 12,448.52 12,325.65

Philip Morris International Quarterly Data
Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26
EBIT 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 3,120.88 3,009.65 3,382.63 3,175.65 3,068.90

XSWX:PMI vs MO, TPB, UVV: EBIT Comparison

For the Tobacco subindustry, Philip Morris International's EV-to-EBIT, along with its competitors' market caps and EV-to-EBIT 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 EV-to-EBIT vs Tobacco Products Industry

For the Tobacco Products industry and Consumer Defensive sector, Philip Morris International's EV-to-EBIT distribution charts can be found below:

* The bar in red indicates where Philip Morris International's EV-to-EBIT falls into.


XSWX:PMI
87GF Score
Philip Morris International Inc XSWX:PMI
EBIT is just one metric. See GF Score™, valuation, warning signs, and more.
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Philip Morris International EBIT Calculation

EBIT, sometimes also called Earnings Before Interest and Taxes, is a measure of a firm's profit that includes all expenses except interest and income tax expenses. It is the difference between operating revenues and operating expenses. When a firm does not have non-operating income, then Operating Income is sometimes used as a synonym for EBIT and operating profit.

EBIT for the trailing twelve months (TTM) ended in Mar. 2026 adds up the quarterly data reported by the company within the most recent 12 months, which was CHF12,637 Mil.

* 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.

Frequently Asked Questions Learn more about EBIT →
What does a EBIT of CHF12,637 Mil mean?
Philip Morris International (XSWX:PMI) has a EBIT of CHF12,637 Mil as of Mar. 2026. Earnings before interest and taxes is the difference between operating revenue and operating expenses. View historical data on Philip Morris International.
Is Philip Morris International's EBIT too high?
Philip Morris International's current EBIT is CHF12,637 Mil. Overall, Philip Morris International has a GF Score™ of 87/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Philip Morris International's EBIT compare to MO and TPB?
Philip Morris International's EBIT of CHF12,637 Mil can be compared against companies in the Tobacco Products industry. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good EBIT for a Tobacco Products company?
A good EBIT depends on the Tobacco Products industry context. However, EBIT 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 EBIT mean?
A high EBIT can signal that a stock is expensive relative to its fundamentals. Earnings before interest and taxes is the difference between operating revenue and operating expenses. View historical data on Philip Morris International. Philip Morris International's current EBIT is CHF12,637 Mil. 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 (XSWX:PMI) is currently considered Modestly Overvalued. The stock's GF Value™ is CHF115.94, compared to a current price of CHF145.00 — trading 25.1% above its estimated fair value. The current EBIT is CHF12,637 Mil. Philip Morris International's overall GF Score™ is 87/100 with 7 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is EBIT calculated?
EBIT is calculated from a company's financial statements. For Philip Morris International (XSWX:PMI), the current EBIT is CHF12,637 Mil 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 (XSWX:PMI) Overvalued in 2026?

Based on GuruFocus' analysis, Philip Morris International stock appears to be overvalued. The current stock price of CHF145.00 is trading 25.1% above its estimated GF Value™ of CHF115.94. GuruFocus considers Philip Morris International to be Modestly Overvalued.

Key valuation signals for XSWX:PMI:

  • EBIT: CHF12,637 Mil
  • GF Value™: CHF115.94 vs. price of CHF145.00 (25.1% above fair value)
  • GF Score™: 87/100 with 7 warning signs

No single metric tells the full story. See the XSWX:PMI 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 XSWX:PMI

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

CHF145.00
Price
CHF115.94
GF Value