Philip Morris International Inc

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PM : NYSE : Consumer Goods
$90.24 | %
Today's Range: 89.4 - 90.53
Avg. Daily Volume: 5051100.0
12/09/16 - 4:00 PM ET

Financial Analysis

PHILIP MORRIS INTERNATIONAL's gross profit margin for the third quarter of its fiscal year 2016 is essentially unchanged when compared to the same period a year ago. Even though sales increased, the net income has decreased, representing a decrease to the bottom line. PHILIP MORRIS INTERNATIONAL has weak liquidity. Currently, the Quick Ratio is 0.56 which shows a lack of ability to cover short-term cash needs. The company's liquidity has increased from the same period last year, indicating improving cash flow.

During the same period, stockholders' equity ("net worth") has increased by 10.60% from the same quarter last year. Overall, the key liquidity measurements indicate that the company is in a position in which financial difficulties could develop in the future.

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Income Statement Q3 FY16 Q3 FY15
Net Sales ($mil)6982.06927.0
EBITDA ($mil)3165.03143.0
EBIT ($mil)2977.02959.0
Net Income ($mil)1938.01942.0

Balance Sheet Q3 FY16 Q3 FY15
Cash & Equiv. ($mil)4884.02393.0
Total Assets ($mil)35577.032011.0
Total Debt ($mil)30087.028907.0
Equity ($mil)-12142.0-13582.0

Profitability Q3 FY16 Q3 FY15
Gross Profit Margin67.5967.98
EBITDA Margin45.3345.37
Operating Margin42.6442.72
Sales Turnover0.730.86
Return on Assets18.2822.6
Return on Equity0.00.0
Debt Q3 FY16 Q3 FY15
Current Ratio1.161.0
Interest Expense220.0247.0
Interest Coverage13.5311.98

Share Data Q3 FY16 Q3 FY15
Shares outstanding (mil)1551.351549.29
Div / share1.041.02
Book value / share-7.83-8.77
Institutional Own % n/a n/a
Avg Daily Volume5066520.04367711.0


HOLD. This stock's P/E ratio indicates a premium compared to an average of 19.97 for the Tobacco industry and a discount compared to the S&P 500 average of 25.79. Normally, for additional comaprison, we would look at the price-to-book ratio; however, this company's price-to-book ratio is negative making the value useless for comparisons. The price-to-sales ratio is well above the S&P 500 average, but well below the industry average.

1 2 3 4 5
premium   discount
  Price/Cash Flow
1 2 3 4 5
premium   discount
PM 21.50 Peers 19.97   PM 17.87 Peers 26.36

Average. An average P/E ratio can signify an industry neutral price for a stock and an average growth expectation.

PM is trading at a valuation on par with its peers.


Discount. The P/CF ratio, a stock’s price divided by the company's cash flow from operations, is useful for comparing companies with different capital requirements or financing structures.

PM is trading at a significant discount to its peers.

1 2 3 4 5
premium   discount
  Price to
1 2 3 4 5
premium   discount
PM 18.67 Peers 13.78   PM 12.72 Peers 4.24

Premium. A higher price-to-projected earnings ratio than its peers can signify a more expensive stock or higher future growth expectations.

PM is trading at a significant premium to its peers.


Premium. The PEG ratio is the stock’s P/E divided by the consensus estimate of long-term earnings growth. Faster growth can justify higher price multiples.

PM trades at a significant premium to its peers.

1 2 3 4 5
premium   discount
  Earnings Growth
1 2 3 4 5
lower   higher
PM NM Peers 20.39   PM -10.11 Peers 2.01

Neutral. A lower price-to-book ratio makes a stock more attractive to investors seeking stocks with lower market values per dollar of equity on the balance sheet.

PM's P/B is negative making this valuation measure meaningless.


Lower. Elevated earnings growth rates can lead to capital appreciation and justify higher price-to-earnings ratios.

However, PM is expected to significantly trail its peers on the basis of its earnings growth rate.

1 2 3 4 5
premium   discount
  Sales Growth
1 2 3 4 5
premium   discount
PM 5.34 Peers 5.87   PM -5.41 Peers -0.63

Average. In the absence of P/E and P/B multiples, the price-to-sales ratio can display the value investors are placing on each dollar of sales.

PM is trading at a valuation on par with its industry on this measurement.


Lower. A sales growth rate that trails the industry implies that a company is losing market share.

PM significantly trails its peers on the basis of sales growth



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