Philip Morris International Inc - Understand $pm stock

$PM Market Cap: $195.3 Billion

Research Board Inbox Deep Research Not Interested Shortlisted

Financial Snapshot

Revenue

$36.45B

TTM

Gross Margin

63.9%

TTM

Net Earnings

$8.799B

TTM

Current Assets

$21.03B

Q2 2024

Current Liabilities

$22.42B

Q2 2024

Current Ratio

93.81%

Q2 2024

Total Assets

$65.78B

Q2 2024

Total Liabilities

$73.72B

Q2 2024

Book Value

-$7.942B

Q2 2024

Cash

$4.807B

Q2 2024

P/E

22.20

Sep 13, 2024 EST

Free Cash Flow

$10.12B

TTM

Revenues

Revenue YoY Change

Revenues

Concept	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011	2010	2009	2008	2007	2006	2005	2004	2003
Revenue	$35.17B	$31.76B	$31.41B	$28.69B	$29.81B	$29.63B	$78.10B	$74.95B	$73.91B	$80.11B	$80.03B	$77.39B	$76.35B	$67.71B	$62.08B	$63.64B	$22.81B	$20.77B	$19.32B	$17.61B	$15.96B
YoY Change	10.74%	1.14%	9.45%	-3.73%	0.61%	-62.07%	4.2%	1.41%	-7.74%	0.1%	3.41%	1.37%	12.75%	9.07%	-2.45%	179.0%	9.83%	7.52%	9.72%	10.31%

Expenses

Cost Of Revenues

Gross Profit

Gross Profit Margin

Gross Profit

Concept	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011	2010	2009	2008	2007	2006	2005	2004	2003
Revenue	$35.17B	$31.76B	$31.41B	$28.69B	$29.81B	$29.63B	$78.10B	$74.95B	$73.91B	$80.11B	$80.03B	$77.39B	$76.35B	$67.71B	$62.08B	$63.64B	$22.81B	$20.77B	$19.32B	$17.61B	$15.96B
Cost Of Revenue	$12.89B	$11.40B	$10.03B	$9.569B	$10.51B	$10.76B	$10.43B	$9.391B	$9.365B	$10.44B	$10.41B	$10.37B	$10.68B	$9.713B	$9.022B	$9.328B	$8.711B	$8.146B	$7.654B	$6.716B	$6.391B
Gross Profit	$22.28B	$20.36B	$21.38B	$19.13B	$19.29B	$18.87B	$18.32B	$17.29B	$17.43B	$19.33B	$20.81B	$21.00B	$20.42B	$17.50B	$16.01B	$16.38B	$14.10B	$12.62B	$11.66B	$10.89B	$9.568B
Gross Profit Margin	63.35%	64.1%	68.06%	66.65%	64.73%	63.69%	23.45%	23.07%	23.58%	24.13%	26.0%	27.14%	26.75%	25.84%	25.79%	25.73%	61.81%	60.78%	60.38%	61.85%	59.95%

Selling, General & Admin Expense

Research & Development

Depreciation, Depletion & Amortization

SGA Expense to Gross Profit Ratio

R&D To Gross Profit Ratio

DDA To Gross Profit Ratio

Operating Expenses Total

Operating Profits/Loss

Operational Expenses

Concept	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011	2010	2009	2008	2007	2006	2005	2004	2003
Selling, General & Admin	$9.554B	$7.910B	$8.088B	$7.235B	$7.840B	$7.408B	$6.647B	$6.317B	$6.656B	$7.001B	$6.889B	$6.961B	$6.870B	$6.160B	$5.870B	$6.001B	$5.021B	$4.551B	$4.121B	$4.242B	$3.372B
YoY Change	20.78%	-2.2%	11.79%	-7.72%	5.83%	11.45%	5.22%	-5.09%	-4.93%	1.63%	-1.03%	1.32%	11.53%	4.94%	-2.18%	19.52%	10.33%	10.43%	-2.85%	25.8%
% of Gross Profit	42.88%	38.85%	37.84%	37.83%	40.64%	39.26%	36.29%	36.53%	38.19%	36.22%	33.11%	33.14%	33.65%	35.21%	36.66%	36.64%	35.61%	36.05%	35.33%	38.96%	35.24%
Research & Development	$709.0M	$642.0M	$617.0M	$495.0M	$465.0M	$383.0M	$453.0M	$429.0M	$423.0M	$433.0M	$449.0M	$415.0M	$413.0M	$391.0M
YoY Change	10.44%	4.05%	24.65%	6.45%	21.41%	-15.45%	5.59%	1.42%	-2.31%	-3.56%	8.19%	0.48%	5.63%
% of Gross Profit	3.18%	3.15%	2.89%	2.59%	2.41%	2.03%	2.47%	2.48%	2.43%	2.24%	2.16%	1.98%	2.02%	2.23%
Depreciation & Amortization	$1.398B	$1.189B	$902.0M	$908.0M	$898.0M	$907.0M	$787.0M	$669.0M	$672.0M	$796.0M	$789.0M	$801.0M	$895.0M	$844.0M	$853.0M	$842.0M	$748.0M	$658.0M	$527.0M	$459.0M	$370.0M
YoY Change	17.58%	31.82%	-0.66%	1.11%	-0.99%	15.25%	17.64%	-0.45%	-15.58%	0.89%	-1.5%	-10.5%	6.04%	-1.06%	1.31%	12.57%	13.68%	24.86%	14.81%	24.05%
% of Gross Profit	6.27%	5.84%	4.22%	4.75%	4.65%	4.81%	4.3%	3.87%	3.86%	4.12%	3.79%	3.81%	4.38%	4.82%	5.33%	5.14%	5.31%	5.21%	4.52%	4.22%	3.87%
Operating Expenses	$709.0M	$642.0M	$617.0M	$495.0M	$465.0M	$383.0M	$453.0M	$429.0M	$423.0M	$433.0M	$449.0M	$415.0M	$413.0M	$391.0M	$5.944B	$6.045B	$5.049B	$4.574B	$4.121B	$4.242B	$3.372B
YoY Change	10.44%	4.05%	24.65%	6.45%	21.41%	-15.45%	5.59%	1.42%	-2.31%	-3.56%	8.19%	0.48%	5.63%	-93.42%	-1.67%	19.73%	10.38%	10.99%	-2.85%	25.8%
Operating Profit	$11.56B	$12.25B	$12.98B	$11.67B	$10.53B	$11.38B	$11.58B	$10.90B	$10.62B	$11.70B	$13.52B	$13.86B	$13.34B	$11.20B	$10.07B	$10.33B	$9.050B	$8.049B	$7.542B	$6.647B	$6.196B
YoY Change	-5.63%	-5.62%	11.2%	10.8%	-7.44%	-1.76%	6.22%	2.64%	-9.22%	-13.41%	-2.51%	3.9%	19.13%	11.23%	-2.55%	14.17%	12.44%	6.72%	13.46%	7.28%

Interest Expenses

Interest Expenses To Operating Income %

Other Expense/Income

Interest & Other Expense/Income

Concept	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011	2010	2009	2008	2007	2006	2005	2004	2003
Interest Expense	$1.526B	$768.0M	$737.0M	$728.0M	$796.0M	$855.0M	$1.096B	$1.069B	$1.132B	$1.170B	$1.104B	$1.007B	$934.0M	$974.0M	-$797.0M	-$311.0M	-$10.00M	-$142.0M	$94.00M	$4.000M	$17.00M
YoY Change	98.7%	4.21%	1.24%	-8.54%	-6.9%	-21.99%	2.53%	-5.57%	-3.25%	5.98%	9.63%	7.82%	-4.11%	-222.21%	156.27%	3010.0%	-92.96%	-251.06%	2250.0%	-76.47%
% of Operating Profit	13.21%	6.27%	5.68%	6.24%	7.56%	7.52%	9.46%	9.8%	10.66%	10.0%	8.17%	7.26%	7.0%	8.7%	-7.92%	-3.01%	-0.11%	-1.76%	1.25%	0.06%	0.27%
Other Income/Expense, Net	-$45.00M	-$24.00M	-$115.0M	-$97.00M	-$89.00M	-$41.00M	-$78.00M	-$88.00M
YoY Change	87.5%	-79.13%	18.56%	8.99%	117.07%	-47.44%	-11.36%

Income/Loss

Pretax Income

Income Tax

Net Profits/Loss

Pretax Income YoY Change

Income Tax Rate

Net Profits/Loss YoY Change

Basic EPS

Net Income To Revenue Ratio

Pretax & Net Income

Concept	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011	2010	2009	2008	2007	2006	2005	2004	2003
Pretax Income	$10.45B	$11.63B	$12.23B	$10.95B	$9.872B	$10.67B	$10.59B	$9.924B	$9.615B	$10.65B	$12.54B	$13.00B	$12.54B	$10.32B	$9.243B	$9.937B	$8.884B	$8.208B	$7.636B	$6.651B	$6.213B
YoY Change	-10.18%	-4.89%	11.68%	10.95%	-7.49%	0.77%	6.7%	3.21%	-9.72%	-15.09%	-3.55%	3.68%	21.48%	11.7%	-6.98%	11.85%	8.24%	7.49%	14.81%	7.05%
Income Tax	$2.339B	$2.244B	$2.671B	$2.377B	$2.293B	$2.445B	$4.307B	$2.768B	$2.688B	$3.097B	$3.670B	$3.833B	$3.653B	$2.826B	$2.691B	$2.787B	$2.570B	$1.825B	$1.833B	$1.762B	$2.090B
% Of Pretax Income	22.38%	19.29%	21.84%	21.7%	23.23%	22.91%	40.67%	27.89%	27.96%	29.08%	29.26%	29.48%	29.13%	27.37%	29.11%	28.05%	28.93%	22.23%	24.0%	26.49%	33.64%
Net Earnings	$7.813B	$9.048B	$9.109B	$8.056B	$7.185B	$7.911B	$6.035B	$6.967B	$6.873B	$7.493B	$8.576B	$8.800B	$8.591B	$7.259B	$6.342B	$6.890B	$6.038B	$6.130B	$5.616B	$4.743B	$3.975B
YoY Change	-13.65%	-0.67%	13.07%	12.12%	-9.18%	31.09%	-13.38%	1.37%	-8.27%	-12.63%	-2.55%	2.43%	18.35%	14.46%	-7.95%	14.11%	-1.5%	9.15%	18.41%	19.32%
Net Earnings / Revenue	22.21%	28.49%	29.0%	28.08%	24.11%	26.7%	7.73%	9.3%	9.3%	9.35%	10.72%	11.37%	11.25%	10.72%	10.22%	10.83%	26.47%	29.52%	29.07%	26.94%	24.91%
Basic Earnings Per Share	$5.02	$5.82	$5.83	$5.16	$4.61	$5.08	$3.88	$4.48	$4.42	$4.76	$5.26	$5.17	$4.85	$3.93
Diluted Earnings Per Share	$5.02	$5.81	$5.83	$5.16	$4.61	$5.08	$3.88	$4.48	$4.42	$4.76	$5.26	$5.17	$4.85	$3.92	$3.252M	$3.319M	$2.863M	$2.907M	$2.663M	$2.249M	$1.950M

Assets & Liabilities

Cash & Short-Term Investments

Cash & Equivalents

Cash To Operating Expenses Ratio

Inventory

Receivables

Total Short-Term Assets

Property, Plant And Equipment

Long-Term Investments

Total Long-Term Assets

Total Assets

Net Income To Total Assets Percentage

Accounts Payable

Short-Term Debt

Long Term Debt Due

Total Short-Term Liabilities

Long-Term Debt

Other Long-Term Liabilities

Total Long-Term Liabilities

Total Liabilities

Short-Term To Long-Term Debt Ratio

Short-Term Assets To Debt Ratio

Long-Term Debt To Net Income Ratio

Assets & Liabilities

Concept	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011	2010	2009	2008	2007	2006	2005	2004	2003
Cash & Short-Term Investments	$3.060B	$3.207B	$4.496B	$7.280B	$6.861B	$6.593B	$8.447B	$4.239B	$3.417B	$1.682B	$2.154B	$2.983B	$2.550B	$1.703B	$1.540B	$1.531B	$1.501B	$1.676B	$1.209B	$4.996B	$3.161B
YoY Change	-4.58%	-28.67%	-38.24%	6.11%	4.06%	-21.95%	99.27%	24.06%	103.15%	-21.91%	-27.79%	16.98%	49.74%	10.58%	0.59%	2.0%	-10.44%	38.63%	-75.8%	58.05%
Cash & Equivalents	$3.060B	$3.207B	$4.496B	$7.280B	$6.861B	$6.593B	$8.447B	$4.239B	$3.417B	$1.682B	$2.154B	$2.983B	$2.550B	$1.703B	$1.540B	$1.531B	$1.501B	$1.676B	$1.209B	$4.996B	$3.161B
Short-Term Investments
Other Short-Term Assets	$1.530B	$1.770B	$561.0M	$860.0M	$701.0M	$481.0M	$603.0M	$853.0M	$1.136B	$1.206B	$999.0M	$1.069B	$988.0M	$727.0M	$837.0M	$896.0M	$558.0M	$426.0M	$805.0M	$272.0M	$286.0M
YoY Change	-13.56%	215.51%	-34.77%	22.68%	45.74%	-20.23%	-29.31%	-24.91%	-5.8%	20.72%	-6.55%	8.2%	35.9%	-13.14%	-6.58%	60.57%	30.99%	-47.08%	195.96%	-4.9%
Inventory	$10.77B	$9.886B	$8.720B	$9.591B	$9.235B	$8.804B	$8.806B	$9.017B	$8.473B	$8.592B	$9.846B	$8.949B	$8.120B	$8.317B	$9.207B	$9.664B	$9.371B	$7.075B	$5.420B	$4.814B	$4.274B
Prepaid Expenses
Receivables	$3.461B	$3.850B	$3.123B	$2.905B	$3.080B	$2.950B	$3.194B	$3.499B	$2.778B	$4.004B	$3.853B	$3.589B	$3.201B	$3.009B	$3.098B	$2.848B	$3.356B	$2.748B	$2.591B	$3.372B	$3.332B
Other Receivables	$930.0M	$906.0M	$817.0M	$856.0M	$637.0M	$614.0M	$544.0M	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Total Short-Term Assets	$19.76B	$19.62B	$17.72B	$21.49B	$20.51B	$19.44B	$21.59B	$17.61B	$15.80B	$15.48B	$16.85B	$16.59B	$14.86B	$13.76B	$14.68B	$14.94B	$14.79B	$11.93B	$10.03B	$13.45B	$11.05B
YoY Change	0.69%	10.74%	-17.56%	4.77%	5.51%	-9.97%	22.64%	11.41%	2.07%	-8.12%	1.58%	11.65%	8.02%	-6.31%	-1.72%	1.03%	23.99%	18.95%	-25.49%	21.72%
Property, Plant & Equipment	$8.147B	$7.304B	$6.694B	$7.062B	$7.397B	$7.201B	$7.271B	$6.064B	$5.721B	$6.071B	$6.755B	$6.645B	$6.250B	$6.499B	$6.390B	$6.348B	$6.435B	$5.238B	$4.603B	$4.042B	$3.512B
YoY Change	11.54%	9.11%	-5.21%	-4.53%	2.72%	-0.96%	19.9%	6.0%	-5.77%	-10.13%	1.66%	6.32%	-3.83%	1.71%	0.66%	-1.35%	22.85%	13.8%	13.88%	15.09%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments	$4.929B	$4.431B	$4.463B	$4.798B	$4.635B	$1.269B	$1.074B	$1.011B	$890.0M	$1.083B	$1.536B	$24.00M
YoY Change	11.24%	-0.72%	-6.98%	3.52%	265.25%	18.16%	6.23%	13.6%	-17.82%	-29.49%	6300.0%
Other Assets	$5.830B	$3.940B	$2.918B	$3.480B	$2.358B	$2.422B	$2.931B	$2.374B	$1.503B	$1.176B	$939.0M	$892.0M	$754.0M	$761.0M	$822.0M	$586.0M	$725.0M	$1.133B	$1.537B	$1.395B	$1.004B
YoY Change	47.97%	35.02%	-16.15%	47.58%	-2.64%	-17.37%	23.46%	57.95%	27.81%	25.24%	5.27%	18.3%	-0.92%	-7.42%	40.27%	-19.17%	-36.01%	-26.28%	10.18%	38.94%
Total Long-Term Assets	$45.55B	$42.06B	$23.57B	$23.32B	$22.36B	$20.36B	$21.37B	$19.24B	$18.15B	$19.70B	$21.32B	$21.08B	$20.63B	$21.29B	$19.87B	$18.03B	$16.99B	$14.20B	$13.11B	$7.800B	$6.577B
YoY Change	8.29%	78.43%	1.07%	4.3%	9.83%	-4.75%	11.07%	6.01%	-7.87%	-7.57%	1.12%	2.19%	-3.12%	7.17%	10.19%	6.13%	19.7%	8.28%	68.08%	18.6%
Total Assets	$65.30B	$61.68B	$41.29B	$44.82B	$42.88B	$39.80B	$42.97B	$36.85B	$33.96B	$35.19B	$38.17B	$37.67B	$35.49B	$35.05B	$34.55B	$32.97B	$31.78B	$26.12B	$23.14B	$21.25B	$17.63B
YoY Change
Accounts Payable	$4.143B	$4.076B	$3.331B	$2.780B	$2.299B	$2.068B	$2.242B	$1.666B	$1.289B	$1.242B	$1.274B	$1.103B	$1.031B	$835.0M	$670.0M	$1.013B	$819.0M	$672.0M
YoY Change	1.64%	22.37%	19.82%	20.92%	11.17%	-7.76%	34.57%	29.25%	3.78%	-2.51%	15.5%	6.98%	23.47%	24.63%	-33.86%	23.69%	21.88%
Accrued Expenses	$12.38B	$11.98B	$9.918B	$10.50B	$9.425B	$7.887B	$8.000B	$9.005B	$8.047B	$8.423B	$9.270B	$7.670B	$7.632B	$6.936B	$6.972B	$6.791B	$6.129B	$5.021B	$2.682B	$2.697B	$2.117B
YoY Change	3.28%	20.81%	-5.51%	11.36%	19.5%	-1.41%	-11.16%	11.91%	-4.46%	-9.14%	20.86%	0.5%	10.03%	-0.52%	2.67%	10.8%	22.07%	87.21%	-0.56%	27.4%
Deferred Revenue
YoY Change
Short-Term Debt	$1.968B	$5.637B	$225.0M	$244.0M	$338.0M	$730.0M	$499.0M	$643.0M	$825.0M	$1.208B	$2.400B	$2.419B	$1.511B	$1.747B	$1.662B	$375.0M	$400.0M	$419.0M	$768.0M	$728.0M	$186.0M
YoY Change	-65.09%	2405.33%	-7.79%	-27.81%	-53.7%	46.29%	-22.4%	-22.06%	-31.71%	-49.67%	-0.79%	60.09%	-13.51%	5.11%	343.2%	-6.25%	-4.53%	-45.44%	5.49%	291.4%
Long-Term Debt Due	$4.698B	$2.611B	$2.798B	$3.124B	$4.051B	$4.054B	$2.506B	$2.573B	$2.405B	$1.318B	$1.255B	$2.781B	$2.206B	$1.385B	$82.00M	$209.0M	$91.00M	$145.0M
YoY Change	79.93%	-6.68%	-10.44%	-22.88%	-0.07%	61.77%	-2.6%	6.99%	82.47%	5.02%	-54.87%	26.07%	59.28%	1589.02%	-60.77%	129.67%	-37.24%
Total Short-Term Liabilities	$26.38B	$27.34B	$19.26B	$19.62B	$18.83B	$17.19B	$15.96B	$16.47B	$15.39B	$15.11B	$17.07B	$17.02B	$14.79B	$12.80B	$11.18B	$10.14B	$8.091B	$6.989B	$6.334B	$5.770B	$4.542B
YoY Change	-3.49%	41.97%	-1.84%	4.15%	9.55%	7.7%	-3.07%	7.03%	1.81%	-11.45%	0.29%	15.02%	15.54%	14.55%	10.19%	25.37%	15.77%	10.34%	9.77%	27.04%
Long-Term Debt	$41.24B	$34.88B	$24.78B	$28.17B	$26.66B	$26.98B	$31.33B	$25.85B	$25.25B	$26.93B	$24.02B	$17.64B	$14.83B	$13.37B	$13.67B	$11.38B	$5.578B	$2.222B	$4.141B	$0.00	$0.00
YoY Change	18.26%	40.72%	-12.02%	5.67%	-1.18%	-13.91%	21.21%	2.38%	-6.23%	12.1%	36.19%	18.96%	10.91%	-2.21%	20.17%	103.96%	151.04%	-46.34%
Other Long-Term Liabilities	$4.789B	$3.825B	$4.734B	$6.979B	$6.077B	$5.476B	$5.103B	$3.536B	$3.253B	$2.800B	$1.876B	$2.993B	$2.127B	$1.728B	$1.869B	$2.550B	$1.273B	$1.476B	$1.329B	$1.261B	$1.580B
YoY Change	25.2%	-19.2%	-32.17%	14.84%	10.98%	7.31%	44.32%	8.7%	16.18%	49.25%	-37.32%	40.71%	23.09%	-7.54%	-26.71%	100.31%	-13.75%	11.06%	5.39%	-20.19%
Total Long-Term Liabilities	$46.03B	$38.70B	$29.52B	$35.15B	$32.73B	$32.45B	$36.44B	$29.39B	$28.50B	$29.73B	$25.90B	$20.63B	$16.96B	$15.10B	$15.54B	$13.93B	$6.851B	$3.698B	$5.470B	$1.261B	$1.580B
YoY Change	18.95%	31.11%	-16.02%	7.37%	0.87%	-10.94%	23.99%	3.1%	-4.12%	14.79%	25.53%	21.69%	12.3%	-2.85%	11.59%	103.28%	85.26%	-32.39%	333.78%	-20.19%
Total Liabilities	$76.53B	$70.64B	$51.40B	$57.38B	$54.45B	$52.26B	$55.05B	$49.54B	$47.20B	$47.82B	$45.93B	$41.15B	$35.26B	$31.54B	$28.84B	$25.47B	$16.18B	$11.85B	$12.83B	$8.225B	$7.139B
YoY Change	8.34%	37.44%	-10.43%	5.38%	4.19%	-5.08%	11.13%	4.96%	-1.29%	4.1%	11.64%	16.7%	11.78%	9.39%	13.21%	57.41%	36.52%	-7.6%	55.96%	15.21%

Ownership

Basic Shares Outstanding

Diluted Shares Outstanding

Preferred Stock

Treasury Stock Shares

Stock Issuance & Repurchase

Ownership Data

Concept	2023	2022	2021	2020	2019	2018	2017	2016	2015	2013	2012	2011	2010
Basic Shares Outstanding	1.552B shares	1.550B shares	1.558B shares	1.557B shares	1.555B shares	1.555B shares	1.552B shares	1.551B shares	1.549B shares	1.622B shares	1.692B shares	1.761B shares	1.839B shares
Diluted Shares Outstanding	1.553B shares	1.552B shares	1.559B shares	1.558B shares	1.556B shares	1.555B shares	1.553B shares	1.551B shares	1.549B shares	1.622B shares	1.692B shares	1.762B shares	1.842B shares
Preferred Stock
Treasury Stock Shares

Return On Shareholders' Equity

Book Value

Free Cash Flow

Free Cash Flow YoY

Dividends

Stock Price

Market Cap: $195.31 Billion

About Philip Morris International Inc

Philip Morris International, Inc. is a holding company, which engages in the business of delivering a smoke-free future and evolving a portfolio for the long term to include products outside of the tobacco and nicotine sector. The company is headquartered in Stamford, Connecticut and currently employs 82,700 full-time employees. The company went IPO on 2008-03-17. The firm's product portfolio primarily consists of cigarettes and smoke-free products, which include heat-not-burn, vapor, and oral nicotine products. The Company’s segments include Europe Region; South and Southeast Asia, Commonwealth of Independent States, Middle East and Africa Region (SSEA, CIS & MEA); East Asia, Australia, and PMI Duty Free Region (EA, AU & PMI DF); Americas Region; Swedish Match, and Wellness and Healthcare (W&H), which includes the operating of Vectura Fertin Pharma business. The firm's brands include Marlboro, HEETS, IQOS, IQOS ILUMA, TEREA, and ZYN. The Company’s IQOS smoke-free product brand portfolio includes heated tobacco and nicotine-containing vapor products. Its smoke-free platform (Platform 1) uses a precisely controlled heating device into which a specially designed and proprietary tobacco unit is inserted and heated to generate an aerosol.

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