Altria Group, Inc. Financial Ratios — MO US Stock

Profitability (USD)

	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Return on Common Equity (%)	13.86	16.8	17.66	19.02	18.92	43.13	25.23	15.81	-3.14	12.22	7.36	18.5	25.91	32.9	19.08
Return on Assets (%)	9.14	11.6	12.92	14.62	15.9	36.8	22.94	14.11	-2.47	9.24	5.69	15.07	21.53	30.55	19.79
Return on Capital (%)	11.03	12.69	13.1	13.57	13.92	31.76	- -	11.71	-5.18	8.06	5.2	11.35	15.52	20.36	12.65
Return on Invested Capital (%)	21.7	27.27	29.64	27.35	32.49	27.41	- -	20.3	-47.44	21.05	25.42	37.8	37.76	42.18	39.58
Gross Margin (%)	53.79	54.65	59.2	56.62	58.95	59.84	61.37	62.43	64.21	62.49	66.28	68.86	69.67	70.27	72.21
EBITDA Margin (%)	39.37	43.08	47.03	43.62	45.56	47.13	50.45	49.55	54.11	53.4	55.91	58.71	57.65	58.29	61.08
Operating Margin (%)	37.85	41.79	45.83	42.46	44.37	46.08	49.37	48.39	52.97	52.17	54.76	57.61	56.32	56.89	59.76
Incremental Operating Margin (%)	-9.52	116.23	479.14	-168.79	82.07	112.84	455.41	-95.49	584.02	37.13	254.44	-84.87	200	-143.1	-132.79
Pretax Margin (%)	33.59	37.01	39.3	43.32	42.85	113.01	50.42	47.59	3.87	33.06	18.11	35.72	53.3	66.81	46.62
Profit Margin (%)	20.4	23.89	25.68	28.25	27.8	73.64	52.44	35.48	-6.53	21.43	11.72	27.86	39.65	55.1	34.5
Net Income to Common Margin (%)	20.4	23.89	25.68	28.25	27.8	73.64	52.44	35.48	-6.53	21.43	11.72	27.86	39.65	55.1	34.5
Effective Tax Rate (%)	39.22	35.42	34.67	34.78	35.1	34.82	- -	25.41	269.45	35.36	35.28	21.99	25.6	17.53	26.01
Dvd Payout Ratio (%)	94.88	81.22	79.65	76.77	79.68	31.67	46.98	77.68	-465.77	141.63	260.44	114.49	83.38	60.77	100.19
Sustainable Growth Rate (%)	0.71	3.15	3.59	4.42	3.85	29.47	13.38	3.53	-17.76	-5.09	-11.82	-2.68	4.31	12.91	-0.04

Credit (USD)

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	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Total Debt	13,689	13,878	14,517	14,693	12,847	13,881	13,894	25,746	28,042	29,471	28,044	26,680	26,233	24,926	25,709
ST Debt	600	1,459	525	1,000	4	- -	864	13,848	1,000	1,500	1,105	1,556	1,121	1,527	1,569
LT Debt	13,089	12,419	13,992	13,693	12,843	13,881	13,030	11,898	27,042	27,971	26,939	25,124	25,112	23,399	24,140
Total Debt/EBITDA	2.09	1.84	1.75	1.88	1.5	1.52	1.41	2.65	2.62	2.65	2.38	2.2	2.22	2.09	2.09
Net Debt/EBITDA	1.59	1.46	1.37	1.45	1.22	1.02	1.29	2.51	2.42	2.2	1.99	1.86	1.91	1.83	1.73
Total Debt/EBIT	2.18	1.9	1.79	1.93	1.54	1.56	1.44	2.71	2.67	2.71	2.43	2.24	2.27	2.14	2.14
Net Debt/EBIT	1.66	1.5	1.4	1.49	1.25	1.05	1.31	2.57	2.47	2.26	2.03	1.9	1.95	1.87	1.76
EBITDA to Interest Expense	5.36	6.68	7.89	9.66	10.46	11.99	13.36	13.95	8.1	9.1	9.94	10.77	10.29	10.6	10.45
EBITDA-CapEx/Interest Expense	5.36	6.68	7.89	9.66	10.46	11.99	13.36	13.95	8.1	9.1	9.94	10.77	10.29	10.6	10.45
EBIT to Interest Expense	5.16	6.48	7.69	9.41	10.19	11.72	13.08	13.63	7.93	8.89	9.73	10.57	10.05	10.35	10.23
Interest Expense	1,220	1,128	1,053	810	821	760	736	697	1,322	1,223	1,188	1,128	1,149	1,124	1,177
Common Equity/Total Assets	66.71	71.47	74.88	78.93	89.62	82.38	99.96	80.96	76.06	75.11	79.95	83.15	83.04	103.62	103.91
Long-Term Debt/Equity (%)	355.39	391.77	339.78	454.92	447.02	108.67	84.72	80.45	427.95	943.37	- -	- -	- -	- -	- -
Long-Term Debt/Capital (%)	34.26	31.74	34.45	32.68	31.3	26.84	22.83	16.84	41.21	42.89	45.17	43.73	43.06	38.09	38.84
Long-Term Debt/Total Assets (%)	35.62	35.15	40.14	39.72	40.82	30.22	30.16	21.45	54.88	58.99	68.16	67.99	65.11	66.52	68.94
Total Debt/Equity (%)	371.68	437.79	352.53	488.14	447.16	108.67	90.34	174.09	443.77	993.96	-1,746.2	-680.09	-751.66	-1,139.21	-744.76
Total Debt/Capital (%)	35.83	35.47	35.74	35.07	31.31	26.84	24.34	36.44	42.74	45.19	47.02	46.43	44.99	40.58	41.37
Total Debt/Total Assets (%)	37.25	39.28	41.64	42.62	40.84	30.22	32.16	46.42	56.91	62.16	70.96	72.2	68.01	70.86	73.42
Net Debt to Equity	282.89	346.31	275.42	377.81	364.71	72.9	82.19	165.08	410.27	827.18	-1,463.26	-577.36	-646.05	-996.3	-615.15
Net Debt/Capital (%)	29.82	30.3	30.29	29.48	27.1	19.75	22.64	35.22	40.83	40.7	42.65	42.39	41.28	37.39	36.82
EBITDA	6,543	7,539	8,307	7,827	8,590	9,114	9,834	9,725	10,711	11,130	11,804	12,145	11,819	11,916	12,301
EBITDA-CapEx	6,543	7,539	8,307	7,827	8,590	9,114	9,834	9,725	10,711	11,130	11,804	12,145	11,819	11,916	12,301
Operating Income (Loss)	6,290	7,314	8,095	7,619	8,365	8,910	9,625	9,498	10,485	10,873	11,560	11,919	11,547	11,630	12,035

Liquidity (USD)

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	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Cash Ratio	0.44	0.35	0.45	0.43	0.34	0.62	0.18	0.06	0.26	0.55	0.53	0.47	0.33	0.36	0.49
Current Ratio	0.93	0.76	0.93	0.9	0.69	0.98	0.64	0.2	0.59	0.79	0.71	0.84	0.49	0.51	0.65
Quick Ratio	0.48	0.37	0.47	0.45	0.35	0.68	0.27	0.08	0.28	0.56	0.54	0.69	0.38	0.38	0.52
CFO/Avg Current Liab	0.5	0.5	0.57	0.63	0.79	0.53	0.69	0.6	0.53	0.97	0.95	0.96	0.93	0.87	1.04
Common Equity/Total Assets	66.71	71.47	74.88	78.93	89.62	82.38	99.96	80.96	76.06	75.11	79.95	83.15	83.04	103.62	103.91
Long-Term Debt/Equity (%)	355.39	391.77	339.78	454.92	447.02	108.67	84.72	80.45	427.95	943.37	- -	- -	- -	- -	- -
Long-Term Debt/Capital (%)	34.26	31.74	34.45	32.68	31.3	26.84	22.83	16.84	41.21	42.89	45.17	43.73	43.06	38.09	38.84
Long-Term Debt/Total Assets (%)	35.62	35.15	40.14	39.72	40.82	30.22	30.16	21.45	54.88	58.99	68.16	67.99	65.11	66.52	68.94
Total Debt/Equity (%)	371.68	437.79	352.53	488.14	447.16	108.67	90.34	174.09	443.77	993.96	-1,746.2	-680.09	-751.66	-1,139.21	-744.76
Total Debt/Capital (%)	35.83	35.47	35.74	35.07	31.31	26.84	24.34	36.44	42.74	45.19	47.02	46.43	44.99	40.58	41.37
Total Debt/Total Assets (%)	37.25	39.28	41.64	42.62	40.84	30.22	32.16	46.42	56.91	62.16	70.96	72.2	68.01	70.86	73.42
CFO/Total Liabilities	10.83	12.08	14.23	14.82	20.44	11.54	17.62	20.63	18.25	18.86	20.44	20.2	22.08	23.43	24.15
CFO/CapEx	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Altman's Z-Score	4.69	5.24	5.98	6.46	8.19	5.89	7.17	3.8	4.54	4.5	5.78	6.37	6.28	8.22	7.6

Working Capital (USD)

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	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Accounts Receivable Turnover	94.16	75.92	114.69	150.17	152.05	140.63	133.06	138.22	134.67	144.23	308.19	24.04	22.88	164.87	91.54
Days Sales Outstanding	3.88	4.81	3.18	2.43	2.4	2.6	2.74	2.64	2.71	2.53	1.18	15.18	15.95	2.21	3.99
Inventory Turnover	4.29	4.5	3.98	3.97	3.8	3.8	3.52	3.24	3.06	3.67	4.51	5.43	5.19	5.3	5.21
Days Inventory Outstanding	85.12	81.05	91.81	91.87	95.99	95.94	103.62	112.77	119.11	99.42	81.01	67.25	70.29	68.92	70.1
Accounts Payable Turnover	14.84	16.57	17.07	19.26	18.95	18.87	19.29	19.35	19.47	21.25	15.31	12.84	11.03	9.27	7.71
Accounts Payable Turnover Days	24.6	22.03	21.39	18.95	19.26	19.34	18.93	18.86	18.75	17.18	23.84	28.42	33.1	39.37	47.36
Cash Conversion Cycle	64.4	63.83	73.6	75.35	79.13	79.19	87.44	96.55	103.07	84.78	58.36	54.02	53.15	31.76	26.73
Inventory to Cash Days	-81.24	-76.24	-88.62	-89.44	-93.59	-93.34	-100.88	-110.13	-116.4	-96.89	-79.82	-52.07	-54.34	-66.71	-66.12
Inventories	1,779	1,746	1,879	2,040	2,031	2,051	2,225	2,331	2,293	1,966	1,194	1,180	1,215	1,080	1,070
Raw Materials	1,104	1,049	1,113	1,191	1,138	1,056	1,111	1,126	1,066	1,044	910	890	853	781	776
Work In Process	316	349	394	429	444	512	560	647	696	502	23	24	22	21	13
Finished Goods	359	348	372	420	449	483	554	558	531	420	261	266	340	278	281
Other Inventory	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -

Enterprise Value (USD)

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	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Market Capitalization	61,198	63,635	76,742	97,456	114,150	131,994	137,179	93,199	93,282	76,178	87,435	82,461	71,138	90,060	96,944
- Cash & Cash Equivalents	3,270	2,900	3,175	3,321	2,369	4,569	1,253	1,333	2,117	4,945	4,544	4,030	3,686	3,127	4,474
+ Preferred Equity and Hybrid Capital	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Minority/Non Controlling Interest	3	2	-1	-4	-7	3	3	2	97	126	- -	50	50	50	50
+ Total Debt	13,689	13,878	14,517	14,693	12,847	13,881	13,894	25,746	28,042	29,471	28,044	26,680	26,233	24,926	25,709
Enterprise Value	71,620	74,615	88,083	108,824	124,621	141,309	149,823	117,614	119,304	100,830	110,935	105,161	93,735	111,909	118,229
Total Capital	38,210	39,131	40,619	41,901	41,032	51,725	57,083	70,645	65,613	65,211	59,643	57,457	58,312	61,427	62,146
Total Debt/Capital (%)	35.83	35.47	35.74	35.07	31.31	26.84	24.34	36.44	42.74	45.19	47.02	46.43	44.99	40.58	41.37
Total Debt / EV	0.19	0.19	0.16	0.14	0.1	0.1	0.09	0.22	0.24	0.29	0.25	0.25	0.28	0.22	0.22
EV/Sales	4.31	4.26	4.99	6.06	6.61	7.31	7.69	5.99	6.03	4.84	5.25	5.08	4.57	5.47	5.87
EV/EBITDA	10.95	9.9	10.6	13.9	14.51	15.5	15.24	12.09	11.14	9.06	9.4	8.66	7.93	9.39	9.61
EV/EBIT	11.39	10.2	10.88	14.28	14.9	15.86	15.57	12.38	11.38	9.27	9.6	8.82	8.12	9.62	9.82
EV/Cash Flow to Firm	16.57	16.17	17.4	20.96	19.55	32.7	26.44	13.2	21.32	10.99	12.09	11.51	9.24	11.56	11.64
EV/Free Cash Flow to Firm	16.57	16.17	17.4	20.96	19.55	32.7	26.44	13.2	21.32	10.99	12.09	11.51	9.24	11.56	11.64
Diluted Market Cap	61,198	63,635	76,742	97,456	114,150	131,994	137,179	93,248	93,282	76,195	87,435	82,461	71,684	90,060	97,042
Diluted Enterprise Value	71,620	74,615	88,083	108,824	124,621	141,309	149,823	117,663	119,304	100,847	110,935	105,161	94,281	111,909	118,327
EV per Share	34.7	36.86	44.06	55.02	63.55	72.39	77.99	62.33	63.83	54.27	60.13	58.29	53.15	64.98	70.32
TTM Sales	16,619	17,500	17,663	17,945	18,854	19,337	19,494	19,627	19,796	20,841	21,111	20,688	20,502	20,444	20,139
TTM EBITDA	6,543	7,539	8,307	7,827	8,590	9,114	9,834	9,725	10,711	11,130	11,804	12,145	11,819	11,916	12,301
TTM Operating Income	6,290	7,314	8,095	7,619	8,365	8,910	9,625	9,498	10,485	10,873	11,560	11,919	11,547	11,630	12,035
TTM Cash Flow to Firm	4,323	4,613	5,063	5,191	6,376	4,321	5,667	8,911	5,597	9,176	9,174	9,136	10,142	9,680	10,161
TTM Free Cash Flow to Firm	4,323	4,613	5,063	5,191	6,376	4,321	5,667	8,911	5,597	9,176	9,174	9,136	10,142	9,680	10,161

Multiples (USD)

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	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Price/Free Cash Flow	17.09	16.38	17.54	20.9	19.54	34.5	27.99	11.11	11.9	9.09	10.4	9.99	7.72	10.29	10.45
EV/EBIT	11.39	10.2	10.88	14.28	14.9	15.86	15.57	12.38	11.38	9.27	9.6	8.82	8.12	9.62	9.82
Enterprise Value	71,620	74,615	88,083	108,824	124,621	141,309	149,823	117,614	119,304	100,830	110,935	105,161	93,735	111,909	118,229
Low Price	23.2	28	31.85	33.8	47.31	56.15	60.01	46.49	39.3	30.95	40	40.35	39.07	39.25	50.08
EV/Sales	4.31	4.26	4.99	6.06	6.61	7.31	7.69	5.99	6.03	4.84	5.25	5.08	4.57	5.47	5.87
EV/EBITDA	10.95	9.9	10.6	13.9	14.51	15.5	15.24	12.09	11.14	9.06	9.4	8.66	7.93	9.39	9.61
Price/Earnings	18.05	15.22	16.92	19.22	21.78	9.27	13.42	13.38	- -	17.05	35.33	14.31	8.75	8	13.95
Price/Earnings Average	16.14	15.64	15.64	16.43	20.15	8.76	13.12	16.33	-71.01	17.17	35.06	14.98	9.58	7.26	14.36
Price/Earnings High	18.51	17.57	17.01	20.16	23.1	9.62	14.62	19.47	-83.66	21.54	39.2	17.86	10.44	8.87	16.6
Price/Earnings Low	14.13	13.56	14.04	13.19	17.7	7.7	11.28	12.6	-56.81	12.87	29.82	12.63	8.47	6	12.12
Price/Book Value	2.5	2.52	2.94	3.58	4.05	3.49	3.18	2.08	2.49	2.14	2.77	2.68	2.22	2.47	2.66
Price/Book Value Average	2.23	2.59	2.72	3.06	3.75	3.3	3.1	2.53	2.45	2.15	2.75	2.81	2.43	2.24	2.74
Price/Book Value High	2.56	2.91	2.95	3.76	4.29	3.62	3.46	3.02	2.89	2.7	3.07	3.35	2.65	2.74	3.17
Price/Book Value Low	1.95	2.24	2.44	2.46	3.29	2.9	2.67	1.95	1.96	1.61	2.34	2.37	2.15	1.85	2.31
Price/Tangible Book Value	-4.5	-4.52	-5.85	-6.8	-7.91	-29.02	-58.95	-34.7	-8.08	-5.14	-4.58	-3.84	-2.97	-4.07	-4.59
Price/Tangible Book Value Average	-4.03	-4.64	-5.41	-5.81	-7.31	-27.42	-57.61	-42.32	-7.95	-5.17	-4.55	-4.02	-3.25	-3.7	-4.73
Price/Tangible Book Value High	-4.62	-5.22	-5.88	-7.14	-8.38	-30.11	-64.22	-50.48	-9.37	-6.49	-5.08	-4.79	-3.54	-4.52	-5.46
Price/Tangible Book Value Low	-3.52	-4.02	-4.85	-4.67	-6.42	-24.1	-49.54	-32.66	-6.36	-3.88	-3.87	-3.39	-2.87	-3.06	-3.99
Price/Sales	3.68	3.64	4.34	5.43	6.05	6.83	7.04	4.75	4.71	3.66	4.14	3.99	3.47	4.41	4.81
Price/Sales Average	3.29	3.74	4.02	4.64	5.6	6.45	6.88	5.79	4.64	3.68	4.11	4.17	3.8	4	4.95
Price/Sales High	3.78	4.2	4.37	5.7	6.42	7.08	7.67	6.91	5.46	4.62	4.6	4.97	4.14	4.89	5.73
Price/Sales Low	2.88	3.24	3.6	3.73	4.92	5.67	5.91	4.47	3.71	2.76	3.5	3.52	3.36	3.31	4.18
Price/Cash Flow	17.09	16.38	17.54	20.9	19.54	34.5	27.99	11.11	11.9	9.09	10.4	9.99	7.66	10.29	10.44
Price/Cash Flow Average	15.28	16.83	16.22	17.86	18.08	32.59	27.35	13.55	11.72	9.15	10.32	10.46	8.39	9.35	10.74
Price/Cash Flow High	17.52	18.91	17.63	21.92	20.72	35.79	30.49	16.16	13.8	11.47	11.54	12.47	9.14	11.42	12.42
Price/Cash Flow Low	13.37	14.59	14.55	14.34	15.88	28.65	23.52	10.45	9.37	6.86	8.78	8.82	7.42	7.72	9.06
Price/Free Cash Flow Average	15.28	16.83	16.22	17.86	18.08	32.59	27.35	13.56	11.72	9.15	10.32	10.46	8.46	9.35	10.75
Price/Free Cash Flow High	17.52	18.91	17.63	21.92	20.72	35.79	30.49	16.17	13.8	11.48	11.54	12.47	9.21	11.42	12.43
Price/Free Cash Flow Low	13.37	14.59	14.55	14.34	15.88	28.65	23.52	10.46	9.37	6.86	8.78	8.82	7.48	7.72	9.07
EV/Sales Average	3.92	4.36	4.66	5.27	6.16	6.93	7.53	7.04	5.95	4.86	5.22	5.27	4.9	5.07	6.01
EV/Sales High	4.4	4.82	5.01	6.33	6.98	7.56	8.31	8.15	6.78	5.8	5.71	6.07	5.24	5.96	6.78
EV/Sales Low	3.51	3.87	4.25	4.36	5.48	6.15	6.56	5.71	5.02	3.94	4.61	4.62	4.46	4.38	5.24
EV/EBITDA Average	9.95	10.13	9.91	12.09	13.51	14.7	14.92	14.2	11	9.11	9.34	8.98	8.51	8.7	9.84
EV/EBITDA High	11.18	11.2	10.65	14.51	15.31	16.05	16.48	16.45	12.53	10.86	10.21	10.34	9.09	10.22	11.11
EV/EBITDA Low	8.91	8.97	9.03	9.99	12.02	13.05	13.01	11.53	9.29	7.38	8.24	7.86	7.74	7.51	8.58
EV/EBIT Average	10.36	10.44	10.17	12.42	13.88	15.04	15.24	14.54	11.24	9.32	9.54	9.15	8.71	8.91	10.06
EV/EBIT High	11.63	11.54	10.93	14.91	15.73	16.41	16.84	16.85	12.8	11.12	10.43	10.54	9.3	10.47	11.35
EV/EBIT Low	9.27	9.25	9.27	10.27	12.34	13.35	13.29	11.81	9.49	7.56	8.42	8.01	7.92	7.69	8.76
Last Price	29.65	31.44	38.39	49.27	58.21	67.62	71.41	49.39	49.91	41	47.39	45.71	40.34	52.29	57.66
High Price	30.4	36.29	38.58	51.67	61.74	70.15	77.79	71.86	57.88	51.78	52.59	57.05	48.11	58.04	68.6
Enterprise Value Average	65,136	76,353	82,290	94,652	116,090	134,007	146,709	138,096	117,839	101,340	110,277	109,048	100,523	103,648	121,061
Enterprise Value High	73,168	84,431	88,462	113,571	131,543	146,248	162,079	160,015	134,200	120,859	120,529	125,618	107,437	121,813	136,623
Enterprise Value Low	58,307	67,652	75,009	78,224	103,246	118,920	127,923	112,142	99,474	82,157	97,300	95,491	91,495	89,450	105,485

Shares Outstanding	2,044	2,010	1,993	1,971	1,960	1,942	1,901	1,874	1,858	1,858	1,823	1,786	1,763	1,691	1,674
Diluted Weighted Avg Shares	2,064	2,024	1,999	1,978	1,961	1,952	1,921	1,888	1,869	1,858	1,845	1,804	1,777	1,722	1,683
Basic Weighted Avg Shares	2,064	2,024	1,999	1,978	1,961	1,952	1,921	1,887	1,869	1,858	1,845	1,804	1,763	1,722	1,681
Revenue per Share	8.05	8.65	8.84	9.07	9.61	9.91	10.15	10.4	10.59	11.22	11.44	11.47	11.63	11.87	11.98
EBITDA per Share	3.17	3.72	4.16	3.96	4.38	4.67	5.12	5.15	5.73	5.99	6.4	6.73	6.7	6.92	7.32
Operating Income per Share	3.05	3.61	4.05	3.85	4.27	4.56	5.01	5.03	5.61	5.85	6.27	6.61	6.55	6.75	7.16
Basic EPS, GAAP	1.64	2.07	2.27	2.56	2.67	7.29	5.32	3.69	-0.69	2.4	1.34	3.2	4.61	6.54	4.13
Basic EPS from Cont Ops	1.64	2.07	2.27	2.56	2.67	7.3	5.32	3.69	-0.69	2.4	1.34	3.2	4.61	6.54	4.13
Diluted EPS, GAAP	1.64	2.07	2.27	2.56	2.67	7.29	5.32	3.69	-0.69	2.4	1.34	3.2	4.58	6.54	4.13
Diluted EPS from Cont Ops	1.64	2.07	2.27	2.56	2.67	7.3	5.32	3.69	-0.69	2.4	1.34	3.2	4.58	6.54	4.13
Dividend per Share	1.56	1.68	1.81	1.97	2.13	2.31	2.5	2.87	3.25	3.39	3.49	3.66	3.84	3.97	4.14
Cash Flow per Share	1.73	1.92	2.19	2.36	2.98	1.96	2.55	4.45	4.19	4.51	4.56	4.58	5.27	5.08	5.53
Free Cash Flow per Basic Share	1.73	1.92	2.19	2.36	2.98	1.96	2.55	4.45	4.19	4.51	4.56	4.58	5.27	5.08	5.53
Cash & Equivalents per Share	1.58	1.43	1.59	1.68	1.21	2.34	0.65	0.71	1.13	2.66	2.46	2.23	2.09	1.82	2.66
Book Value per Share	11.88	12.48	13.06	13.76	14.38	19.39	22.48	23.79	20.05	19.17	17.13	17.03	18.16	21.16	21.64
Tangible Book Value per Share	-6.58	-6.96	-6.56	-7.24	-7.36	-2.33	-1.21	-1.42	-6.18	-7.98	-10.35	-11.91	-13.59	-12.83	-12.56

Altria Group, Inc.

Profitability (USD)

Credit (USD)

Liquidity (USD)

Working Capital (USD)

Enterprise Value (USD)

Multiples (USD)

Per Share Data Items (USD)