Altria Group, Inc.

Cigarettes

MOStrained9 of 11 basics passed

$71.51

+0.13%

Market cap $119B

$71.51

+0.13%

Market cap $119B

Altria comprises Philip Morris USA, U.S. Smokeless Tobacco, John Middleton, Horizon Innovations, and Helix Innovations.

It is a $119B consumer staples company. Revenue shrank 0.6% over the last year, it keeps 34¢ of every dollar of sales as profit, and its net debt equals ~2.2 years of free cash flow. It trades at 15.0× earnings — around the middle of its own history.

Website: altria.com
Location: Richmond, VA
Employees: 5 900
Sector: Consumer Defensive

Share price · 3 years

$42.49 → $71.51+68.3%

price only — dividends excluded

Key facts · TTM

Revenue: total sales; $23.5B
Profit: keeps 34¢ of every $1 sold; $7.97B
Free cash flow: cash left after running the business; $9.11B
Net debt: debt minus cash on hand; $19.7B
P/E: years of profit in the price; 15.0
EPS: earnings per share, TTM; $4.59
Dividend: pays out 89% of profit · 77% of FCF · raised 55+ yrs; 5.90%
Shares: down 25% since 2018 — buybacks; 1.74B
Volatility: beta vs the market — under 1 swings less; 0.51

Revenue, last 10 years

52-week range

Low $54.72$71.51High $74.92

Today's price is 83% of the way from the year's low to its high.

P/E vs its history5y

15.0×median 13.6×

Higher than 61% of past days — around the middle of its own history.

Valuation vs own history

P/E

15.0×

38%

P/S

5.4×

11%

EV/EBITDA

11.9×

25%

FCF yield

7.6%

17%

Share of the last ~5 years that was pricier than today (pricier than usual). Based on the daily valuation record.

Insider activity · 90 days

+$101Knet buying

Purchases$101K

Sales$0

Insiders trading, last 14d0 buy · 0 sell

Standing in Consumer Defensive

Size$119Btop 18%
Revenue growth-2%top 90%
Net margin34%top 1%
Return on equity150%top 8%
P/E15.0×top 10%
Dividend yield5.90%top 19%

Ranked against 41 Consumer Defensive companies with a full CV — for P/E, lower ranks higher.

Skills

Six independent scores, 0–100, built from reported numbers and valuation history. Click a row to see how it was scored.

Strong profitability and quality; Health lags behind.

Valuation57

P/E vs own history61th pct · 5/25
FCF yield7.6% · 20/25
P/S5.1x · 12/25
EV/EBITDA12.8x · 20/25

Growth65

Revenue CAGR-2.7% · 0/25
Net income CAGR29.4% · 25/25
EPS CAGR ~5Y10.8% · 20/25
Fwd implied growth27.1% · 20/25

Profitability100

ROIC43.0% · 25/25
ROE149.7% · 25/25
Net margin34.0% · 25/25
Operating margin46.8% · 25/25

Health25

Altman Zn/a · 0/25
Current ratio0.52 · 0/25
Interest coverage17.7x · 25/25
Net cash / debtD/A 56% · 0/25

Quality85

Piotroski F6/9 · 15/25
Beneish M-2.64 · 25/25
FCF conversion114% · 25/25
Margin stabilityσ 5.3% · 20/25

Moat70

ROIC >12% years10/10 yrs · 25/25
Median gross margin52.2% · 20/25
FCF-positive years10/10 yrs · 25/25
Worst-year net marginworst -5.1% · 0/25

How the scores work →

Experience

The company's career so far — founding, the IPO, landmark products and acquisitions, plus revenue milestones and insider buying.

FY2016Financial
First recorded profitable year
$14.2B net income
FY2016Financial
Revenue already above $10B
$25.7B in first reported year
FY2016Financial
Positive free cash flow every year since
10-year streak
FY2016Financial
Best year on record
$14.2B net income

Achievements

Verifiable track record, straight from the reported numbers.

#8 largest of 41 Consumer Defensive companies by market cap

Dividend King — raised its dividend 55+ years in a row

$10 000 invested in 2021 would be worth ~$14 784 today — price return only

$23.3B revenue in FY2025

Profitable 6 years in a row

Positive free cash flow 10 years in a row

5 900 employees

ROIC of 43.0%

Strengths & watch-outs

What a bull and a bear would each point to. Both lists come from the reported numbers, not opinions.

Strengths

High gross margin (62.9%)
Strongly profitable — 34.0% net margin
Strong cash conversion — FCF is 38.8% of revenue
Interest covered 17.7× by operating earnings
High returns on invested capital (ROIC 43.0%)

Watch-outs

Revenue shrinking 0.6% year over year
Loss-making in 1 of the recent years

Qualifications

The basics a company should meet before you research it further. Each check uses the reported numbers.

9 of 11 checks passed

Revenue growing — the company sells more than a year ago-0.6% YoY
Profitable — makes more than it spends$7.97B TTM
Profit growing — earnings are higher than last year+8.9% YoY
Generates cash — cash left after running and investing$9.11B TTM
Debt under control — could handle its obligations~2.2y of cash flow to repay
Established company — not a micro-cap — lower blow-up risk$119B market cap
Not printing shares — share count not ballooning — you keep your slice-6.7% shares over ~5y
Proven track record — years of profitability behind it9/10 profitable years
Financially stable — balance sheet not near distresshealth score 25/100
Pays a dividend — returns cash to shareholdersyield 5.90%
Valuation not extreme — price not wildly above earningsP/E 15.0

Peer comparisonAltria Group, Inc. vs 6 largest consumer defensive peers — cap, P/E, growth and margin side by sideOpen ▾

Company	Market cap	P/E	Revenue growth	Net margin	Profile
MO this company	$119.4B	15.0	-0.6%	34.0%	Strained
WMT Walmart Inc.	$882.9B	40.8	+6.2%	3.0%	Strained
COST Costco Wholesale Corp	$419.2B	45.5	+10.1%	3.0%	Mixed
KO Coca-Cola Company	$379.3B	26.5	+6.5%	28.6%	Mixed
PG Procter & Gamble Company	$351.2B	21.9	+3.3%	18.4%	Solid
PM Philip Morris International Inc.	$313.6B	28.8	+8.9%	25.6%	Strained
PEP PepsiCo, Inc.	$171.8B	16.5	+6.4%	11.1%	Strained

Head-to-head: MO vs WMT · MO vs COST · MO vs KO

References

What covering analysts publish about the company — information only, not a recommendation.

Strong buy 6Buy 6Hold 9Sell 2Strong sell 1

Appendix · Financial records

The full statements behind this CV, FY2016–FY2025. For readers who want to check the numbers.

Profit & lossRevenue $23.5B · net income $7.97B (TTM)Open ▾

Profit & loss

Revenue and profit over the company's career — the income statement, visualised.

How FY2025 revenue flows to profit

RevenueNet income

Revenue (TTM)

$23.5B

YoY -0.6%

Net income (TTM)

$7.97B

Margin 34.0%

Gross margin

62.9%

Operating margin

46.8%

P/E ratio

15.0

Dividend yield

5.90%

Income statement — full detail

Figures in USD billions · EPS in USD

	2020	2021	2022	2023	2024	2025
Revenue	26.2	26.0	25.1	24.5	24.0	23.3
Gross profit	13.0	14.0	14.2	14.3	14.4	14.5
Operating income (EBIT)	10.9	11.6	11.9	11.5	11.2	9.9
Net income	4.5	2.5	5.8	8.1	11.3	6.9
EPS (diluted)	2.40	1.34	3.00	4.00	6.00	4.00

Cash flowFree cash flow $9.11B · operating cash flow $9.41B (TTM)Open ▾

Cash flow statement

Cash generated by the business and what is left after investment — year by year.

Operating cash flowFree cash flow

Free cash flow (TTM)

$9.11B

Margin 38.8%

Operating cash flow (TTM)

$9.41B

FCF margin

38.8%

Cash flow statement — full detail

Figures in USD billions

	2020	2021	2022	2023	2024	2025
Operating cash flow	8.4	8.4	8.3	9.3	8.8	9.3
Capital expenditure	-0.2	-0.2	-0.2	-0.2	-0.1	-0.2
Free cash flow	8.2	8.2	8.1	9.1	8.6	9.1
FCF margin	31.2%	31.7%	32.1%	37.1%	35.9%	39.0%

Balance sheetAssets $35.0B · net debt $19.7B (FY2025)Open ▾

Balance sheet

How the balance sheet is built — what it owns versus how it is financed.

How $35.0B of assets is financed

110%

Liabilities $38.5B — borrowed moneyEquity -$3.50B — owners' stake

Cash vs debt

Total debt $24.1B − cash $4.47B = net debt $19.7B

Cash on hand covers 19% of debt.

Debt repayment

0.0 yrs

Years of free cash flow to clear net debt

Interest coverage

17.7x

EBIT ÷ interest expense

ROE

149.7%

Profit per $1 of equity

Balance sheet — full detail

Figures in USD billions

	2020	2021	2022	2023	2024	2025
Cash & equivalents	4.9	4.5	4.0	3.7	3.1	4.5
Total assets	47.4	39.5	37.0	38.6	35.2	35.0
Total liabilities	44.4	41.1	40.9	42.1	37.4	38.5
Total debt	28.0	26.9	25.1	25.1	23.4	24.1
Equity	2.8	-1.6	-4.0	-3.5	-2.2	-3.5
Net debt	23.0	22.4	21.1	21.4	20.3	19.7

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Deeper analysis of MO on PreMarketPrice

Figures are derived from company filings (quarterly values normalised from as-filed year-to-date data where applicable) and may be delayed, restated or incomplete. This page is information, not investment advice. Latest price $71.51 · market cap $119B.