Philip Morris International (PM) Margins & Profitability 2020-2026

Gross, EBITDA, operating, and net margin trends

Margins

Profit margins across the income statement

Gross Margin: 68.4%
EBITDA Margin: 45.1%
Op. Margin: 40.5%
Net Margin: 25.2%

Op. margin of 40.5% is up 3.9% YoY — cost efficiency is improving. Net margin at 25.2% and gross margin of 68.4% show how much of each revenue dollar survives to profit.

Gross Margin (%)

Revenue left after direct cost of goods sold

EBITDA Margin (%)

Operating profitability independent of capital structure

Operating & Net Margins (%)

How much of each dollar becomes profit