Philip Morris International Inc. (PM) quarterly balance sheet — complete assets, liabilities & equity history
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 | Q2'23 | Q1'23 | Q4'22 | Q3'22 | Q2'22 | Q1'22 | Q4'21 | Q3'21 | Q2'21 |
|---|
| Total Current Assets | 25.6B | 24.36B | 22.66B | 23.36B | 22.2B | 20.17B | 20.8B | 21.03B | 20.87B | 19.75B | 19.19B | 19.84B | 19.57B | 19.62B | 19.04B | 18.38B | 18.72B | 17.72B | 17.85B | 18.74B |
| Cash & Short-Term Investments | 5.45B | 4.87B | 4.04B | 4.14B | 4.44B | 4.22B | 4.26B | 4.88B | 4.1B | 3.06B | 3.02B | 3.49B | 2.43B | 3.21B | 5.37B | 5.04B | 4.62B | 4.5B | 4.49B | 4.92B |
| Cash Only | 5.45B | 4.87B | 4.04B | 4.14B | 4.44B | 4.22B | 4.26B | 4.88B | 4.1B | 3.06B | 3.02B | 3.49B | 2.43B | 3.21B | 5.37B | 5.04B | 4.62B | 4.5B | 4.49B | 4.92B |
| Short-Term Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accounts Receivable | 0 | 5.81B | 5.82B | 5.89B | 5.79B | 4.67B | 5.19B | 5.12B | 5.05B | 4.39B | 4.79B | 5.01B | 4.6B | 4.76B | 4.61B | 4.59B | 4.42B | 3.94B | 4.18B | 4.45B |
| Days Sales Outstanding | - | 51.64 | 49.68 | 52.42 | 50.65 | 46.76 | 47.84 | 48.87 | 48.86 | 46.68 | 49.32 | 48.77 | 52.5 | 52.86 | 52.71 | 52.35 | 48.56 | 46.1 | 48.86 | 51.12 |
| Inventory | 0 | 11.48B | 10.27B | 10.73B | 10.13B | 9.45B | 9.36B | 9.38B | 9.97B | 10.77B | 9.64B | 9.9B | 10.71B | 9.89B | 7.15B | 7.55B | 8.68B | 8.72B | 8.17B | 8.69B |
| Days Inventory Outstanding | - | 280.97 | 276.96 | 289.39 | 289.84 | 252.75 | 256.06 | 263.23 | 295.42 | 274.16 | 285.06 | 290.53 | 306.92 | 254.23 | 230.45 | 278.96 | 303.32 | 276.84 | 298.81 | 342.44 |
| Other Current Assets | 20.15B | 2.2B | 2.54B | 2.61B | 1.83B | 1.83B | 1.99B | 1.65B | 1.75B | 1.53B | 1.74B | 1.43B | 1.83B | 1.77B | 1.9B | 1.2B | 1B | 561M | 1B | 693M |
| Total Non-Current Assets | 43.31B | 44.82B | 44.4B | 45.14B | 42.88B | 41.61B | 46.1B | 44.75B | 44.44B | 45.55B | 43.73B | 42.03B | 42.49B | 42.06B | 21.68B | 22.58B | 23.01B | 23.57B | 23.74B | 21.94B |
| Property, Plant & Equipment | 8.26B | 8.4B | 8.12B | 8.04B | 7.53B | 7.31B | 7.55B | 7.26B | 7.2B | 7.52B | 6.88B | 6.99B | 6.79B | 6.71B | 5.61B | 5.96B | 6B | 6.17B | 6.06B | 5.97B |
| Fixed Asset Turnover | 1.22x | 1.26x | 1.34x | 1.30x | 1.25x | 1.31x | 1.34x | 1.31x | 1.19x | 1.26x | 1.32x | 1.30x | 1.19x | 1.32x | 1.39x | 1.31x | 1.27x | 1.33x | 1.35x | 1.27x |
| Goodwill | 17.07B | 17.26B | 17.18B | 17.23B | 16.86B | 16.6B | 17.14B | 16.82B | 16.46B | 16.78B | 16.51B | 19.24B | 19.87B | 19.66B | 6.13B | 6.32B | 6.63B | 6.68B | 6.81B | 5.84B |
| Intangible Assets | 10.51B | 10.88B | 11.15B | 11.38B | 11.35B | 11.33B | 11.92B | 12.17B | 9.45B | 9.86B | 9.58B | 6.63B | 6.73B | 6.73B | 2.22B | 2.66B | 2.79B | 2.82B | 2.89B | 1.96B |
| Long-Term Investments | 2.48B | 2.89B | 3.13B | 3.35B | 2.97B | 2.65B | 5.63B | 5.25B | 5.18B | 4.93B | 4.69B | 4.75B | 4.5B | 4.43B | 4.09B | 4.33B | 4.31B | 4.46B | 4.62B | 4.63B |
| Other Non-Current Assets | 4.99B | 4.14B | 3.76B | 4.03B | 2.88B | 2.78B | 2.85B | 2.33B | 5.2B | 5.65B | 5.5B | 2.72B | 4.01B | 3.93B | 2.95B | 2.6B | 2.58B | 2.55B | 2.27B | 2.42B |
| Total Assets | 68.91B | 69.19B | 67.06B | 68.51B | 65.08B | 61.78B | 66.89B | 65.78B | 65.31B | 65.3B | 62.93B | 61.87B | 62.06B | 61.68B | 40.72B | 40.96B | 41.73B | 41.29B | 41.59B | 40.69B |
| Asset Turnover | 0.15x | 0.15x | 0.16x | 0.15x | 0.15x | 0.15x | 0.15x | 0.14x | 0.13x | 0.14x | 0.15x | 0.14x | 0.13x | 0.16x | 0.20x | 0.19x | 0.19x | 0.20x | 0.20x | 0.19x |
| Asset Growth % | 5.89% | 11.98% | 0.25% | 4.14% | -0.36% | -5.39% | 6.3% | 6.33% | 5.24% | 5.87% | 54.55% | 51.04% | 48.71% | 49.38% | -2.1% | 0.67% | 4.85% | -7.87% | 6.29% | 3.89% |
| Total Current Liabilities | 26.22B | 25.43B | 26.72B | 28.15B | 28.09B | 22.91B | 23.37B | 22.42B | 22.17B | 26.38B | 21.55B | 23.25B | 22.98B | 27.34B | 20.77B | 20.55B | 20.42B | 19.25B | 17.88B | 15.88B |
| Accounts Payable | 0 | 4.41B | 3.98B | 3.87B | 3.75B | 3.95B | 3.51B | 3.59B | 3.65B | 4.14B | 3.53B | 3.79B | 3.94B | 4.08B | 3.34B | 3.28B | 3.2B | 3.33B | 2.81B | 2.63B |
| Days Payables Outstanding | - | 108.35 | 103.53 | 105.72 | 114 | 100.29 | 97.06 | 98.47 | 110.95 | 103.06 | 106.75 | 108.97 | 119.52 | 110.68 | 103.77 | 111.38 | 113.88 | 100.64 | 96.39 | 99.91 |
| Short-Term Debt | 8.14B | 3.7B | 8.22B | 9.03B | 10.8B | 3.53B | 4.99B | 4.49B | 5.7B | 6.67B | 4.8B | 6.49B | 6.71B | 8.25B | 5.46B | 5.71B | 5.34B | 3.02B | 3.34B | 1.74B |
| Deferred Revenue (Current) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -3.59B | -3.65B | 0 | 0 | -3.79B | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Current Liabilities | 18.08B | 1.54B | 1.4B | 1.25B | 1.02B | 1.3B | 12.58B | 5.87B | 5.97B | 13.15B | 11B | 6.38B | 10.46B | 12.8B | 9.96B | 9.82B | 10.11B | 1.15B | 9.72B | 9.71B |
| Current Ratio | 0.98x | 0.96x | 0.85x | 0.83x | 0.79x | 0.88x | 0.89x | 0.94x | 0.94x | 0.75x | 0.89x | 0.85x | 0.85x | 0.72x | 0.92x | 0.89x | 0.92x | 0.92x | 1.00x | 1.18x |
| Quick Ratio | 0.98x | 0.51x | 0.46x | 0.45x | 0.43x | 0.47x | 0.49x | 0.52x | 0.49x | 0.34x | 0.44x | 0.43x | 0.39x | 0.36x | 0.57x | 0.53x | 0.49x | 0.47x | 0.54x | 0.63x |
| Cash Conversion Cycle | - | 224.27 | 223.11 | 236.08 | 226.49 | 199.22 | 206.85 | 213.63 | 233.33 | 217.77 | 227.63 | 230.33 | 239.9 | 196.41 | 179.4 | 219.93 | 238 | 222.3 | 251.27 | 293.64 |
| Total Non-Current Liabilities | 49.99B | 51.79B | 49.33B | 50.37B | 45.92B | 48.74B | 51.24B | 51.31B | 51.71B | 48.37B | 49.09B | 46.58B | 46.13B | 40.66B | 27.35B | 27.67B | 29.52B | 30.24B | 32.34B | 34B |
| Long-Term Debt | 43.81B | 45.13B | 41.86B | 42.43B | 38.78B | 42.17B | 44.24B | 44.65B | 44.68B | 41.24B | 42.91B | 41.4B | 40.42B | 34.88B | 21.76B | 22.34B | 24.02B | 24.78B | 25.77B | 27.41B |
| Capital Lease Obligations | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Deferred Tax Liabilities | 2.01B | 2.06B | 2B | 2.15B | 2.82B | 2.52B | 2.55B | 2.65B | 2.66B | 2.33B | 2.9B | 1.71B | 1.82B | 1.96B | 923M | 856M | 751M | 726M | 720M | 505M |
| Other Non-Current Liabilities | 4.17B | 4.59B | 5.46B | 5.79B | 4.32B | 4.06B | 4.46B | 4.01B | 4.36B | 4.79B | 3.27B | 3.47B | 3.89B | 3.83B | 4.66B | 4.47B | 4.75B | 4.73B | 5.86B | 6.08B |
| Total Liabilities | 76.21B | 77.21B | 76.05B | 78.52B | 74B | 71.65B | 74.61B | 73.72B | 73.88B | 74.75B | 70.63B | 69.83B | 69.11B | 67.99B | 48.12B | 48.22B | 49.94B | 49.5B | 50.22B | 49.89B |
| Total Debt | 51.95B | 48.84B | 50.08B | 51.46B | 49.58B | 45.7B | 49.22B | 49.14B | 50.39B | 47.91B | 47.72B | 47.89B | 47.12B | 43.12B | 27.22B | 28.05B | 29.36B | 27.81B | 29.11B | 29.16B |
| Net Debt | 46.5B | 43.96B | 46.05B | 47.32B | 45.14B | 41.48B | 44.96B | 44.26B | 46.29B | 44.85B | 44.7B | 44.4B | 44.69B | 39.92B | 21.85B | 23.02B | 24.73B | 23.31B | 24.61B | 24.24B |
| Debt / Equity | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Debt / EBITDA | 12.11x | 12.54x | 10.50x | 12.13x | 12.32x | 12.23x | 11.86x | 12.64x | 14.77x | 14.71x | 12.56x | 16.70x | 15.55x | 13.41x | 8.18x | 8.39x | 8.27x | 8.58x | 7.89x | 8.66x |
| Net Debt / EBITDA | 10.84x | 11.29x | 9.66x | 11.15x | 11.22x | 11.10x | 10.83x | 11.38x | 13.57x | 13.77x | 11.77x | 15.49x | 14.75x | 12.42x | 6.57x | 6.88x | 6.97x | 7.20x | 6.67x | 7.20x |
| Interest Coverage | 18.11x | 4.75x | 18.47x | 13.36x | 14.66x | 4.08x | 19.25x | 10.43x | 10.13x | 5.00x | 12.88x | 8.62x | 11.78x | 18.21x | 21.46x | 24.21x | 21.39x | 20.27x | 22.54x | 19.27x |
| Total Equity | -7.3B | -8.03B | -8.98B | -10.01B | -8.93B | -9.87B | -7.71B | -7.94B | -8.56B | -9.45B | -7.71B | -7.96B | -7.05B | -6.31B | -7.4B | -7.26B | -8.2B | -8.21B | -8.63B | -9.2B |
| Equity Growth % | 18.22% | 18.66% | -16.48% | -26.06% | -4.24% | -4.49% | -0.09% | 0.23% | -21.41% | -49.68% | -4.09% | -9.64% | 14.02% | 23.11% | 14.24% | 21.09% | 14.32% | 22.79% | 15.74% | 9.09% |
| Book Value per Share | -4.67 | -5.15 | -5.77 | -6.43 | -5.74 | -6.34 | -4.96 | -5.10 | -5.51 | -6.08 | -4.96 | -5.13 | -4.54 | -4.07 | -4.77 | -4.68 | -5.29 | -5.27 | -5.53 | -5.90 |
| Total Shareholders' Equity | -9.28B | -9.99B | -10.91B | -11.97B | -10.9B | -11.75B | -9.69B | -9.74B | -10.31B | -11.22B | -9.43B | -9.7B | -8.92B | -8.96B | -9.14B | -9.04B | -10.1B | -10.11B | -10.55B | -11.11B |
| Common Stock | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Retained Earnings | 35.54B | 35.4B | 35.56B | 34.38B | 33.45B | 32.87B | 35.56B | 34.58B | 34.21B | 34.09B | 33.92B | 33.89B | 34.3B | 34.29B | 33.87B | 33.76B | 33.47B | 33.08B | 32.94B | 32.47B |
| Treasury Stock | 0 | -35.55B | -35.55B | -35.55B | -35.56B | -35.64B | -35.64B | -35.65B | -35.66B | -35.78B | -35.79B | -35.79B | -35.8B | -35.92B | -35.92B | -35.92B | -35.92B | -35.84B | -35.15B | -35.06B |
| Accumulated OCI | -11.79B | -12.3B | -13.32B | -13.15B | -11.12B | -11.31B | -11.89B | -10.93B | -11.06B | -11.81B | -9.82B | -10.04B | -9.61B | -9.56B | -9.29B | -9.04B | -9.76B | -9.58B | -10.52B | -10.66B |
| Minority Interest | 1.98B | 1.97B | 1.93B | 1.95B | 1.98B | 1.88B | 1.98B | 1.8B | 1.75B | 1.78B | 1.73B | 1.74B | 1.87B | 2.65B | 1.73B | 1.78B | 1.9B | 1.9B | 1.92B | 1.91B |