Philip Morris International (XSWX:PMI) Forward PE Ratio Explanation
The Forward PE Ratio of a company is often used to compare current earnings to estimated future earnings, as well as gaining a clearer picture of what earnings will look like without charges and other accounting adjustments. If earnings are expected to grow in the future, the Forward PE Ratio will be lower than the current PE Ratio. This measure is also used to compare one company to another with a forward-looking focus.
Trailing PE Ratio relies on what is already done. It uses the current share price and divides by the total EPS (Basic) over the past 12 months. PE Ratio can be affected by Non Operating Income such as the sale of part of businesses. This may increase for the current year or quarter dramatically. But it cannot be repeated over and over. Therefore PE Ratio without NRI is a more accurate indication of valuation than PE Ratio .
Philip Morris International Forward PE Ratio Related Terms
Philip Morris International Forward PE Ratio 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.
Philip Morris International Forward PE Ratio Chart
Philip Morris International Annual Data
Trend
2015-12
2016-12
2017-12
2018-12
2019-12
2020-12
2021-12
2022-12
2023-12
2024-12
2025-12
Forward PE Ratio
18.83
18.59
19.57
12.38
14.56
14.06
15.22
17.15
14.53
18.18
18.64
Philip Morris International Quarterly Data
2015-12
2016-03
2016-06
2016-09
2016-12
2017-03
2017-06
2017-09
2017-12
2018-03
2018-06
2018-09
2018-12
2019-03
2019-06
2019-09
2019-12
2020-03
2020-06
2020-09
2020-12
2021-03
2021-06
2021-09
2021-12
2022-03
2022-06
2022-09
2022-12
2023-03
2023-06
2023-09
2023-12
2024-03
2024-06
2024-09
2024-12
2025-03
2025-06
2025-09
2025-12
2026-03
Forward PE Ratio
18.83
19.76
22.17
22.03
18.59
23.42
24.51
21.10
19.57
18.35
15.24
15.02
12.38
16.16
15.36
13.32
14.56
12.17
15.27
13.50
14.06
15.11
14.79
14.49
15.22
15.53
17.36
15.20
17.15
16.23
15.02
14.16
14.53
14.27
16.16
18.21
18.18
21.44
23.42
18.82
18.64
20.03
XSWX:PMI vs MO, TPB, UVV: Forward PE Ratio Comparison
For the Tobacco subindustry, Philip Morris International's Forward PE Ratio, along with its competitors' market caps and Forward PE 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 Forward PE Ratio vs Tobacco Products Industry
For the Tobacco Products industry and Consumer Defensive sector, Philip Morris International's Forward PE Ratio distribution charts can be found below:
* The bar in red indicates where Philip Morris International's Forward PE Ratio falls into.
Philip Morris International Forward PE Ratio Calculation
It's a measure of the price-to-earnings ratio (PE Ratio) using forecasted earnings for the calculation. While the earnings used are just an estimate and are not as reliable as current earnings data, there is still benefit in estimated P/E analysis. The forecasted earnings used in the formula can either be for the next 12 months or for the next full-year fiscal period.
Philip Morris International (XSWX:PMI) has a Forward PE Ratio of 22.37 as of Jul. 11, 2026. Forward P/E ratio is the share price dividend by the expected per-share earnings in the next 12 months. View historical data on Philip Morris International and its competitors. According to the industry distribution chart, Philip Morris International ranks #21 out of 24 companies in the Tobacco Products industry, placing it in the top 87.5%.
Is Philip Morris International's Forward PE Ratio too high?
Philip Morris International's current Forward PE Ratio is 22.37. The Tobacco Products industry median Forward PE Ratio is 12.14. Philip Morris International's value of 22.37 is 84.3% above this industry median. Based on the distribution chart, Philip Morris International ranks #21 out of 24 companies in the Tobacco Products industry, which is in the bottom quartile relative to peers. 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 Forward PE Ratio compare to MO and TPB?
According to the Tobacco Products industry distribution chart, Philip Morris International ranks #21 out of 24 companies for Forward PE Ratio. This places Philip Morris International in the lower half of its industry. The industry median Forward PE Ratio is 12.14. Philip Morris International's value of 22.37 is 84.3% above this benchmark. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Forward PE Ratio for a Tobacco Products company?
The median Forward PE Ratio among Tobacco Products companies is 12.14, based on 24 companies in the industry. Companies in the top quartile (top 25%) have a Forward PE Ratio significantly above this median, while those in the bottom quartile fall well below. However, Forward PE Ratio should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Philip Morris International's current Forward PE Ratio of 22.37 is 84.3% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Forward PE Ratio mean?
A high Forward PE Ratio can signal that a stock is expensive relative to its fundamentals. Forward P/E ratio is the share price dividend by the expected per-share earnings in the next 12 months. View historical data on Philip Morris International and its competitors. For the Tobacco Products industry, the median Forward PE Ratio is 12.14 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Philip Morris International's current Forward PE Ratio is 22.37. 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 CHF113.58, compared to a current price of CHF146.00 — trading 28.5% above its estimated fair value. The current Forward PE Ratio is 22.37 and 84.3% above the Tobacco Products industry median of 12.14. 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 Forward PE Ratio calculated?
Forward PE Ratio is calculated from a company's financial statements. For Philip Morris International (XSWX:PMI), the current Forward PE Ratio is 22.37 as of Jul. 11, 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 CHF146.00 is trading 28.5% above its estimated GF Value™ of CHF113.58.
GuruFocus considers Philip Morris International to be Modestly Overvalued.
Key valuation signals for XSWX:PMI:
Forward PE Ratio: 22.37
GF Value™: CHF113.58 vs. price of CHF146.00 (28.5% above fair value)
Industry Position: 84.3% above the Tobacco Products median (#21 of 24)
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.
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
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Forward PE Ratio is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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