Philip Morris International Inc. reported its results for the fourth quarter and full year 2025. For the full year 2025, the company delivered net revenues exceeding USD 40 billion, with close to USD 17 billion generated from its smoke-free business. Reported diluted earnings per share (EPS) for the full year was USD 7.26, representing a 60.6 percent increase. Adjusted diluted EPS reached USD 7.54, up by 14.8 percent. Operating income for the year was USD 14.9 billion, representing an 11.1 percent increase. In its combustibles segment, full-year net revenues grew by 2.5 percent, driven by strong pricing, despite lower volumes. Gross profit for this segment increased by 5.2 percent. Marlboro achieved a record-high 11.0 percent category share during the year. Philip Morris International declared a regular quarterly dividend of USD 1.47 per share, or an annualized USD 5.88 per share. The company implemented a new organizational structure effective January 1, 2026, now reporting across three primary segments: International Smoke-Free, International Combustibles, and U.S. This change aims to enhance agility and support the company’s transition towards a smoke-free business model. Management highlighted five consecutive years of volume growth and noted that the company has achieved its three-year compound annual growth rate targets on operating income and EPS within two years.

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