Philip Morris International Inc. Financial Ratios — PMI.SW

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 (%)	43.07	37.58	32.41	26.25	23.26	23.13	20.03	25.99	23.18	25.73	28.15	26.86	22.85	21.08	33.24
Return on Assets (%)	24.36	24.06	22.62	20.43	19.88	19.68	15.12	19.12	17.38	18.37	21.16	17.57	12.31	11.11	17.33
Return on Capital (%)	22.96	20.04	17.05	13.93	12.53	12.29	10.02	12.56	11.29	12.53	14.21	12.87	10.43	9.67	14.55
Return on Invested Capital (%)	35.36	36.07	34.31	32.1	31.98	32.48	24.81	30.84	29.55	32.38	36.71	27.41	20.55	22.17	25.63
Gross Margin (%)	65.66	66.94	66.65	64.94	65.05	64.81	63.71	63.69	64.73	66.65	68.06	64.1	63.35	64.81	67.12
EBITDA Margin (%)	46.45	47.31	47.11	44.1	42.71	43.64	43.33	41.74	38.57	44.08	44.49	41.95	38.72	40.1	41.65
Operating Margin (%)	43.25	44.45	44.28	41.11	39.9	40.86	40.28	38.4	35.33	40.66	41.32	38.56	34.74	35.38	36.74
Incremental Operating Margin (%)	56.67	176.79	76.25	109.45	52	-194.5	32.86	-23.26	-470	-102.34	48.21	-204.2	-0.73	43.68	55.27
Pretax Margin (%)	40.33	41.44	40.18	35.78	35.88	37.19	36.83	36.02	33.12	38.17	38.95	36.63	29.71	32.21	34.15
Profit Margin (%)	27.63	28.05	27.47	25.17	25.65	26.11	20.99	26.7	24.11	28.08	29	28.49	22.21	18.63	27.92
Net Income to Common Margin (%)	27.63	28.05	27.47	25.17	25.65	26.11	20.99	26.7	24.11	28.08	29	28.49	22.21	18.63	27.92
Effective Tax Rate (%)	29.13	29.48	29.26	29.08	27.96	27.89	40.67	22.91	23.23	21.7	21.84	19.29	22.38	24.73	19.72
Dvd Payout Ratio (%)	52.23	56.84	62.69	77.14	86.91	84.67	98.09	79.49	86.58	80.67	73.51	78.07	91.3	79.85	69.84
Sustainable Growth Rate (%)	20.58	16.22	12.09	6	3.04	3.55	0.38	5.33	3.11	4.97	7.46	5.89	1.99	4.25	10.03

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	18,545	22,839	27,678	29,455	28,480	29,067	34,339	31,759	31,045	31,536	27,806	43,123	47,909	45,695	48,835
ST Debt	3,717	5,200	3,655	2,526	3,230	3,216	3,005	4,784	4,389	3,368	3,023	8,248	6,666	3,529	3,701
LT Debt	14,828	17,639	24,023	26,929	25,250	25,851	31,334	26,975	26,656	28,168	24,783	34,875	41,243	42,166	45,134
Total Debt/EBITDA	1.28	1.54	1.88	2.24	2.49	2.5	2.76	2.57	2.7	2.49	1.99	3.24	3.52	3.01	2.88
Net Debt/EBITDA	1.11	1.34	1.74	2.12	2.19	2.13	2.08	2.04	2.1	1.92	1.67	3	3.29	2.73	2.6
Total Debt/EBIT	1.38	1.64	2	2.41	2.66	2.67	2.97	2.79	2.95	2.7	2.14	3.52	3.92	3.41	3.27
Net Debt/EBIT	1.19	1.42	1.85	2.27	2.34	2.28	2.24	2.21	2.3	2.08	1.8	3.26	3.67	3.09	2.94
EBITDA to Interest Expense	15.46	14.74	13.32	11.22	10.11	10.89	11.36	14.46	14.44	17.38	18.96	17.35	8.92	8.62	10.67
EBITDA-CapEx/Interest Expense	15.46	14.74	13.32	11.22	10.11	10.89	11.36	14.46	14.44	17.38	18.96	17.35	8.92	8.62	10.67
EBIT to Interest Expense	14.4	13.85	12.52	10.46	9.44	10.2	10.57	13.31	13.23	16.03	17.61	15.95	8.01	7.6	9.41
Interest Expense	934	1,007	1,104	1,170	1,132	1,069	1,096	855	796	728	737	768	1,526	1,763	1,587
Common Equity/Total Assets	61.31	66.57	72.95	83.12	87.88	82.49	69.49	77.92	72.27	70.6	80.12	55.59	52.2	53.2	51.17
Long-Term Debt/Equity (%)	841.07	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Long-Term Debt/Capital (%)	35.44	35.61	42.14	44.78	42.02	42.2	47.44	41.83	41.64	43.26	39.47	43.56	49.23	52.42	52.36
Long-Term Debt/Total Assets (%)	41.78	46.83	62.94	76.53	74.36	70.15	72.92	67.77	62.17	62.85	60.02	56.54	63.16	68.25	65.24
Total Debt/Equity (%)	1,051.9	-1,232.54	-441.15	-262.92	-248.17	-266.67	-335.67	-295.74	-323.42	-296.64	-338.77	-683.3	-507.19	-462.97	-608.31
Total Debt/Capital (%)	44.33	46.1	48.55	48.99	47.4	47.45	51.99	49.24	48.5	48.43	44.29	53.86	57.19	56.8	56.65
Total Debt/Total Assets (%)	52.26	60.63	72.52	83.71	83.87	78.88	79.92	79.79	72.41	70.37	67.34	69.91	73.36	73.96	70.59
Net Debt to Equity	907.26	-1,071.56	-406.82	-247.91	-218.39	-227.78	-253.1	-234.34	-251.94	-228.16	-283.99	-632.48	-474.79	-420.25	-547.62
Net Debt/Capital (%)	40.71	42.65	46.53	47.52	44.22	43.55	44.95	43.46	42.32	41.94	39.99	51.94	55.56	54.41	54.06
EBITDA	14,444	14,844	14,706	13,126	11,445	11,646	12,456	12,366	11,495	12,649	13,973	13,323	13,619	15,189	16,929
EBITDA-CapEx	14,444	14,844	14,706	13,126	11,445	11,646	12,456	12,366	11,495	12,649	13,973	13,323	13,619	15,189	16,929
Operating Income (Loss)	13,451	13,946	13,824	12,237	10,691	10,903	11,581	11,377	10,531	11,668	12,975	12,246	12,221	13,402	14,933

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	0.17	0.18	0.13	0.11	0.22	0.26	0.53	0.38	0.36	0.37	0.23	0.12	0.12	0.18	0.19
Current Ratio	1	0.97	0.99	1.02	1.03	1.07	1.35	1.13	1.09	1.1	0.92	0.72	0.75	0.88	0.96
Quick Ratio	0.39	0.39	0.35	0.38	0.4	0.47	0.76	0.59	0.56	0.56	0.44	0.29	0.28	0.39	0.42
CFO/Avg Current Liab	0.76	0.59	0.59	0.48	0.52	0.51	0.55	0.57	0.56	0.51	0.62	0.46	0.34	0.5	0.51
Common Equity/Total Assets	61.31	66.57	72.95	83.12	87.88	82.49	69.49	77.92	72.27	70.6	80.12	55.59	52.2	53.2	51.17
Long-Term Debt/Equity (%)	841.07	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Long-Term Debt/Capital (%)	35.44	35.61	42.14	44.78	42.02	42.2	47.44	41.83	41.64	43.26	39.47	43.56	49.23	52.42	52.36
Long-Term Debt/Total Assets (%)	41.78	46.83	62.94	76.53	74.36	70.15	72.92	67.77	62.17	62.85	60.02	56.54	63.16	68.25	65.24
Total Debt/Equity (%)	1,051.9	-1,232.54	-441.15	-262.92	-248.17	-266.67	-335.67	-295.74	-323.42	-296.64	-338.77	-683.3	-507.19	-462.97	-608.31
Total Debt/Capital (%)	44.33	46.1	48.55	48.99	47.4	47.45	51.99	49.24	48.5	48.43	44.29	53.86	57.19	56.8	56.65
Total Debt/Total Assets (%)	52.26	60.63	72.52	83.71	83.87	78.88	79.92	79.79	72.41	70.37	67.34	69.91	73.36	73.96	70.59
CFO/Total Liabilities	31.22	23.84	22.81	16.68	17.31	16.91	16.75	18.75	19.23	17.7	24.18	15.89	12.31	17.05	15.84
CFO/CapEx	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Altman's Z-Score	7.24	6.79	6.31	6.36	6.18	5.73	5.35	4.95	4.71	4.46	5.53	4.51	4.17	5.34	5.29

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	9.93	9.24	8.39	7.58	7.9	8.5	8.59	9.64	9.89	9.59	10.42	9.11	9.62	10.45	9.72
Days Sales Outstanding	36.77	39.49	43.51	48.17	46.19	42.93	42.49	37.85	36.92	38.07	35.03	40.07	37.93	34.93	37.54
Inventory Turnover	1.3	1.22	1.11	1.13	1.1	1.07	1.17	1.22	1.17	1.02	1.1	1.23	1.25	1.32	1.28
Days Inventory Outstanding	280.93	300.31	329.5	322.44	332.55	339.89	311.8	298.74	313.15	359.05	333.18	297.81	292.44	276.95	285.79
Accounts Payable Turnover	11.23	10.5	9.51	7.3	7.31	6.72	5.23	4.99	5.01	3.91	3	3.39	3.35	2.97	3.68
Accounts Payable Turnover Days	32.49	34.77	38.37	50.01	49.96	54.28	69.78	73.13	72.82	93.39	121.77	107.56	108.84	123.03	99.12
Cash Conversion Cycle	285.21	305.03	334.64	320.6	328.79	328.54	284.51	263.46	277.25	303.72	246.44	230.32	221.53	188.85	224.21
Inventory to Cash Days	-244.15	-260.81	-285.99	-274.26	-286.36	-296.96	-269.31	-260.89	-276.22	-320.98	-298.15	-257.74	-254.51	-242.02	-248.25
Inventories	8,120	8,949	9,846	8,592	8,473	9,017	8,806	8,804	9,235	9,591	8,720	9,886	10,774	9,453	11,478
Raw Materials	4,648	5,158	5,305	4,831	4,253	4,067	4,169	3,723	3,648	3,775	3,294	3,702	4,235	4,341	4,648
Work In Process	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Finished Goods	3,472	3,791	4,541	3,761	4,220	4,950	4,637	5,081	5,587	5,816	5,426	6,184	6,539	5,112	6,830
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	134,577	141,816	139,016	129,812	137,903	142,187	162,372	102,581	136,286	127,137	148,310	155,046	147,470	197,610	247,501
- Cash & Cash Equivalents	2,550	2,983	2,154	1,682	3,417	4,239	8,447	6,593	6,861	7,280	4,496	3,207	3,060	4,216	4,872
+ Preferred Equity and Hybrid Capital	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Minority/Non Controlling Interest	1,534	1,623	1,492	1,426	1,768	1,788	1,856	1,720	1,978	1,936	1,898	2,646	1,779	1,880	1,966
+ Total Debt	18,545	22,839	27,678	29,455	28,480	29,067	34,339	31,759	31,045	31,536	27,806	43,123	47,909	45,695	48,835
Enterprise Value	152,106	163,295	166,032	159,011	164,734	168,803	190,120	129,467	162,448	153,329	173,518	197,608	194,098	240,969	293,430
Total Capital	41,836	49,538	57,013	60,130	60,090	61,252	66,054	64,493	64,010	65,110	62,786	80,058	83,778	80,444	86,201
Total Debt/Capital (%)	44.33	46.1	48.55	48.99	47.4	47.45	51.99	49.24	48.5	48.43	44.29	53.86	57.19	56.8	56.65
Total Debt / EV	0.12	0.14	0.17	0.19	0.17	0.17	0.18	0.25	0.19	0.21	0.16	0.22	0.25	0.19	0.17
EV/Sales	4.89	5.2	5.32	5.34	6.15	6.33	6.61	4.37	5.45	5.34	5.53	6.22	5.52	6.36	7.22
EV/EBITDA	10.53	11	11.29	12.11	14.39	14.49	15.26	10.47	14.13	12.12	12.42	14.83	14.25	15.86	17.33
EV/EBIT	11.31	11.71	12.01	12.99	15.41	15.48	16.42	11.38	15.43	13.14	13.37	16.14	15.88	17.98	19.65
EV/Cash Flow to Firm	13.59	16.12	15.21	18.56	18.98	19.08	19.88	12.77	15.18	14.77	13.83	17.3	18.68	17.79	21.72
EV/Free Cash Flow to Firm	13.59	16.12	15.21	18.56	18.98	19.08	19.88	12.77	15.18	14.77	13.83	17.3	18.68	17.79	21.72
Diluted Market Cap	134,577	141,816	139,016	129,812	137,903	142,187	162,477	102,581	136,373	127,219	148,406	155,246	147,565	197,865	247,819
Diluted Enterprise Value	152,106	163,295	166,032	159,011	164,734	168,803	190,225	129,467	162,535	153,411	173,614	197,808	194,193	241,224	293,748
EV per Share	88.13	96.51	102.36	101.54	106.35	108.83	122.5	83.26	104.47	98.48	111.37	127.49	125.06	155.06	188.58
TTM Sales	31,097	31,377	31,217	29,767	26,794	26,685	28,748	29,625	29,805	28,694	31,405	31,762	35,174	37,878	40,648
TTM EBITDA	14,444	14,844	14,706	13,126	11,445	11,646	12,456	12,366	11,495	12,649	13,973	13,323	13,619	15,189	16,929
TTM Operating Income	13,451	13,946	13,824	12,237	10,691	10,903	11,581	11,377	10,531	11,668	12,975	12,246	12,221	13,402	14,933
TTM Cash Flow to Firm	11,191	10,131	10,916	8,569	8,681	8,848	9,562	10,137	10,701	10,382	12,543	11,423	10,388	13,544	13,507
TTM Free Cash Flow to Firm	11,191	10,131	10,916	8,569	8,681	8,848	9,562	10,137	10,701	10,382	12,543	11,423	10,388	13,544	13,507

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	12.78	15.05	13.72	16.77	17.53	17.6	18.23	10.82	13.52	12.97	12.4	14.37	16.03	16.2	20.26
EV/EBIT	11.31	11.71	12.01	12.99	15.41	15.48	16.42	11.38	15.43	13.14	13.37	16.14	15.88	17.98	19.65
Enterprise Value	152,106	163,295	166,032	159,011	164,734	168,803	190,120	129,467	162,448	153,329	173,518	197,608	194,098	240,969	293,430
Low Price	55.79	73.37	82.06	75.77	73.97	83.46	90.62	65.79	65.86	58.28	75.12	84.93	88.3	88.69	119.9
EV/Sales	4.89	5.2	5.32	5.34	6.15	6.33	6.61	4.37	5.45	5.34	5.53	6.22	5.52	6.36	7.22
EV/EBITDA	10.53	11	11.29	12.11	14.39	14.49	15.26	10.47	14.13	12.12	12.42	14.83	14.25	15.86	17.33
Price/Earnings	15.66	16.12	16.21	17.32	20.06	20.41	26.91	12.97	18.97	15.78	16.28	17.14	18.87	28	21.81
Price/Earnings Average	13.39	16.58	16.82	17.54	18.62	21.47	28.3	17.46	17.6	14.97	15.46	16.75	19.36	23.74	21.75
Price/Earnings High	15.91	18.05	18.36	18.73	20.45	23.68	32.12	21.72	19.86	17.48	17.36	18.88	21.68	29.38	26.55
Price/Earnings Low	11.21	14.11	15.52	15.84	16.67	18.58	23.31	12.93	14.25	11.26	12.85	14.55	17.54	19.53	16.44
Price/Book Value	6.19	5.66	4.99	4.44	4.62	4.68	5.44	3.31	4.4	4.02	4.48	4.52	4.33	6.01	6.99
Price/Book Value Average	5.29	5.82	5.18	4.49	4.29	4.92	5.72	4.45	4.08	3.81	4.26	4.42	4.44	5.1	6.97
Price/Book Value High	6.28	6.34	5.66	4.8	4.71	5.43	6.49	5.54	4.61	4.45	4.78	4.98	4.97	6.31	8.51
Price/Book Value Low	4.43	4.95	4.78	4.06	3.84	4.26	4.71	3.3	3.31	2.87	3.54	3.84	4.02	4.19	5.27
Price/Tangible Book Value	-11.35	-9.23	-7.57	-5.75	-6.41	-6.87	-7.99	-5.08	-7.76	-6.83	-8.38	-4.74	-4.09	-5.23	-6.84
Price/Tangible Book Value Average	-9.7	-9.49	-7.86	-5.82	-5.95	-7.23	-8.4	-6.83	-7.2	-6.48	-7.95	-4.63	-4.19	-4.43	-6.82
Price/Tangible Book Value High	-11.52	-10.34	-8.58	-6.22	-6.53	-7.97	-9.54	-8.5	-8.12	-7.57	-8.93	-5.23	-4.69	-5.49	-8.33
Price/Tangible Book Value Low	-8.12	-8.08	-7.25	-5.26	-5.33	-6.26	-6.92	-5.06	-5.83	-4.88	-6.61	-4.03	-3.8	-3.65	-5.16
Price/Sales	4.33	4.52	4.45	4.36	5.15	5.33	5.65	3.46	4.57	4.43	4.72	4.88	4.19	5.22	6.09
Price/Sales Average	3.7	4.65	4.62	4.42	4.78	5.61	5.94	4.66	4.24	4.2	4.48	4.77	4.3	4.42	6.07
Price/Sales High	4.39	5.06	5.04	4.71	5.24	6.18	6.74	5.8	4.79	4.91	5.04	5.38	4.81	5.47	7.41
Price/Sales Low	3.1	3.96	4.26	3.99	4.28	4.85	4.89	3.45	3.44	3.16	3.73	4.14	3.9	3.64	4.59
Price/Cash Flow	12.78	15.05	13.72	16.77	17.53	17.6	18.22	10.82	13.51	12.96	12.39	14.35	16.02	16.18	20.23
Price/Cash Flow Average	10.93	15.48	14.24	16.99	16.27	18.52	19.16	14.57	12.53	12.29	11.77	14.03	16.43	13.71	20.18
Price/Cash Flow High	12.98	16.86	15.54	18.13	17.87	20.43	21.75	18.13	14.14	14.36	13.22	15.82	18.4	16.97	24.63
Price/Cash Flow Low	9.15	13.18	13.13	15.33	14.57	16.03	15.78	10.79	10.15	9.25	9.78	12.19	14.89	11.28	15.25
Price/Free Cash Flow Average	10.93	15.48	14.24	16.99	16.27	18.52	19.18	14.57	12.54	12.3	11.78	14.05	16.44	13.73	20.2
Price/Free Cash Flow High	12.98	16.86	15.54	18.13	17.87	20.43	21.77	18.13	14.15	14.36	13.23	15.84	18.41	16.99	24.66
Price/Free Cash Flow Low	9.15	13.18	13.13	15.33	14.57	16.03	15.79	10.79	10.16	9.25	9.79	12.2	14.9	11.3	15.27
EV/Sales Average	4.26	5.33	5.49	5.4	5.78	6.6	6.91	5.57	5.12	5.12	5.29	6.11	5.63	5.57	7.2
EV/Sales High	4.96	5.75	5.91	5.69	6.25	7.18	7.71	6.71	5.67	5.82	5.84	6.72	6.14	6.62	8.54
EV/Sales Low	3.66	4.64	5.13	4.97	5.28	5.85	5.86	4.36	4.31	4.08	4.53	5.48	5.22	4.78	5.72
EV/EBITDA Average	9.18	11.27	11.65	12.24	13.53	15.13	15.94	13.34	13.27	11.61	11.88	14.57	14.53	13.88	17.29
EV/EBITDA High	10.68	12.15	12.54	12.91	14.62	16.45	17.79	16.07	14.69	13.21	13.12	16.02	15.86	16.5	20.51
EV/EBITDA Low	7.88	9.81	10.89	11.26	12.36	13.4	13.52	10.45	11.19	9.24	10.18	13.08	13.49	11.93	13.73
EV/EBIT Average	9.86	12	12.39	13.13	14.48	16.16	17.14	14.5	14.49	12.58	12.8	15.85	16.19	15.74	19.6
EV/EBIT High	11.46	12.93	13.34	13.85	15.65	17.57	19.14	17.46	16.04	14.32	14.13	17.43	17.67	18.71	23.25
EV/EBIT Low	8.46	10.44	11.58	12.08	13.23	14.31	14.54	11.36	12.21	10.02	10.96	14.23	15.03	13.52	15.57
Last Price	77.97	83.82	85.71	82.89	89.03	91.67	104.62	65.97	87.64	81.66	95.19	100.03	95.02	127.16	159.06
High Price	79.19	93.9	97.07	89.6	90.72	106.37	124.91	110.49	91.78	90.46	101.52	110.23	109.12	133.42	193.64
Enterprise Value Average	132,560	167,339	171,297	160,662	154,802	176,190	198,536	164,981	152,590	146,829	166,033	194,114	197,875	210,884	292,757
Enterprise Value High	154,199	180,358	184,469	169,513	167,356	191,591	221,615	198,697	168,884	167,044	183,378	213,421	215,982	250,692	347,235
Enterprise Value Low	113,822	145,624	160,119	147,851	141,407	156,057	168,398	129,194	128,581	116,940	142,247	174,207	183,667	181,187	232,497

Shares Outstanding	1,726	1,654	1,589	1,547	1,549	1,551	1,553	1,555	1,556	1,557	1,550	1,550	1,552	1,555	1,557
Diluted Weighted Avg Shares	1,726	1,692	1,622	1,566	1,549	1,551	1,553	1,555	1,556	1,558	1,559	1,552	1,553	1,556	1,558
Basic Weighted Avg Shares	1,726	1,692	1,622	1,566	1,549	1,551	1,552	1,555	1,555	1,557	1,558	1,550	1,552	1,554	1,556
Revenue per Share	18.02	18.54	19.25	19.01	17.3	17.21	18.52	19.05	19.17	18.43	20.16	20.49	22.66	24.37	26.12
EBITDA per Share	8.37	8.77	9.07	8.38	7.39	7.51	8.03	7.95	7.39	8.12	8.97	8.6	8.78	9.77	10.88
Operating Income per Share	7.79	8.24	8.52	7.81	6.9	7.03	7.46	7.32	6.77	7.49	8.33	7.9	7.87	8.62	9.6
Basic EPS, GAAP	4.98	5.2	5.29	4.78	4.44	4.49	3.89	5.09	4.62	5.17	5.85	5.84	5.03	4.54	7.29
Basic EPS from Cont Ops	5.14	5.41	5.46	4.89	4.54	4.67	4.09	5.33	4.97	5.52	6.23	6.15	5.33	6.32	7.61
Diluted EPS, GAAP	4.98	5.2	5.29	4.78	4.44	4.49	3.89	5.09	4.62	5.17	5.84	5.83	5.03	4.54	7.28
Diluted EPS from Cont Ops	5.14	5.41	5.46	4.89	4.54	4.67	4.08	5.33	4.97	5.51	6.23	6.14	5.32	6.31	7.6
Dividend per Share	2.77	3.19	3.53	3.85	4.03	4.11	4.2	4.43	4.61	4.73	4.87	5.04	5.13	5.27	5.54
Cash Flow per Share	6.1	5.57	6.25	4.94	5.08	5.21	5.74	6.1	6.49	6.3	7.68	6.97	5.93	7.86	7.86
Free Cash Flow per Basic Share	6.1	5.57	6.25	4.94	5.08	5.21	5.74	6.1	6.49	6.3	7.68	6.97	5.93	7.86	7.86
Cash & Equivalents per Share	1.48	1.76	1.33	1.07	2.21	2.73	5.44	4.24	4.41	4.68	2.89	2.07	1.97	2.71	3.13
Book Value per Share	12.61	14.82	17.17	18.68	19.27	19.6	19.24	19.94	19.93	20.32	21.23	22.12	21.97	21.15	22.75
Tangible Book Value per Share	-6.87	-9.09	-11.32	-14.42	-13.89	-13.34	-13.1	-12.99	-11.3	-11.96	-11.36	-21.1	-23.25	-24.32	-23.25

Philip Morris International Inc.

Profitability (USD)

Credit (USD)

Liquidity (USD)

Working Capital (USD)

Enterprise Value (USD)

Multiples (USD)

Per Share Data Items (USD)