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Raw inputs
Equipment
Foundry
Chip design
Software
AI demand
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Company details
Market cap
$278B
P/E ratio
23×
Div yield
3.3%
Revenue (2025)
$40B
Smoke-free share
41.5%
Rev. growth
+7.3%
Gross profit
$27B
Operating income
$15B
In plain English
The world's largest tobacco company outside the US — it sells Marlboro and other cigarettes across more than 180 markets, but its real story is the pivot to smoke-free nicotine: the IQOS heated-tobacco device (the runaway leader of its category) and, since buying Swedish Match, the ZYN nicotine pouches that have become a US phenomenon. Smoke-free products now top 40% of revenue.
In simple terms
What Philip Morris International really sells
The world's largest tobacco company outside the US — it sells Marlboro and other cigarettes across more than 180 markets, but its real story is the pivot to smoke-free nicotine: the IQOS heated-tobacco device (the runaway leader of its category) and, since buying Swedish Match, the ZYN nicotine pouches that have become a US phenomenon. Smoke-free products now top 40% of revenue.
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