NYSE : MO
Altria Group, Inc. — Financial statements
Consumer Staples · Tobacco · United States
Last price 76.75 USD (Oct 29, 2026, 4:00 PM EDT) · Market cap 128.15B
Overview · Financial statements · Key statistics · Dividends · Company profile · Price history · Reports
Financial statements
Altria Group, Inc. (MO) reported revenue of 20.63B USD (TTM). Five years of income statement, balance sheet, cash flow and ratios below.
Income statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Revenue | 20.63B | 20.14B | 20.44B | 20.50B | 20.69B | 21.11B |
| Cost of Revenue | 5.69B | 5.58B | 6.11B | 6.25B | 2.60B | 7.17B |
| Gross Profit | 14.95B | 14.56B | 14.34B | 14.26B | 18.09B | 13.94B |
| Selling, General & Admin | 2.35B | 2.25B | 2.26B | 2.19B | 2.02B | 2.02B |
| Operating Expenses | 2.31B | 2.25B | 2.26B | 2.19B | 2.02B | 2.02B |
| Operating Income | 12.64B | 12.32B | 12.08B | 12.06B | 16.08B | 11.92B |
| Interest Expense | -1.16B | -1.17B | -1.12B | -1.14B | -1.12B | -1.19B |
| Interest & Investment Income | 98.00M | 98.00M | 87.00M | 160.00M | 70.00M | 26.00M |
| Earnings From Equity Investments | 599.00M | 510.00M | 652.00M | 243.00M | -3.66B | -5.98B |
| Currency Exchange Gain (Loss) | 7.00M | |||||
| EBT Excluding Unusual Items | 12.18B | 11.75B | 11.69B | 11.33B | 11.37B | 4.79B |
| Merger & Restructuring Charges | -130.00M | -100.00M | -68.00M | -37.00M | ||
| Impairment of Goodwill | -285.00M | -1.16B | ||||
| Gain (Loss) on Sale of Assets | 2.70B | |||||
| Asset Writedown | -970.00M | -970.00M | -354.00M | |||
| Legal Settlements | -243.00M | -171.00M | -226.00M | -430.00M | -4.04B | -182.00M |
| Other Unusual Items | 18.00M | -1.00M | -111.00M | 29.00M | 63.00M | -744.00M |
| Pretax Income | 10.59B | 9.39B | 13.66B | 10.93B | 7.39B | 3.82B |
| Income Tax Expense | 2.48B | 2.44B | 2.39B | 2.80B | 1.62B | 1.35B |
| Earnings From Continuing Operations | 8.11B | 6.95B | 11.26B | 8.13B | 5.76B | 2.48B |
| Minority Interest in Earnings | 4.00M | |||||
| Net Income | 8.12B | 6.95B | 11.26B | 8.13B | 5.76B | 2.48B |
| Preferred Dividends & Other Adjustments | 20.00M | 20.00M | 28.00M | 17.00M | 13.00M | 11.00M |
| Net Income to Common | 8.10B | 6.93B | 11.24B | 8.11B | 5.75B | 2.46B |
| Shares Outstanding (Basic) | 1.67B | 1.68B | 1.72B | 1.78B | 1.80B | 1.84B |
| Shares Outstanding (Diluted) | 1.67B | 1.68B | 1.72B | 1.78B | 1.80B | 1.84B |
| EPS (Basic) | 4.84 | 4.12 | 6.54 | 4.57 | 3.19 | 1.34 |
| EPS (Diluted) | 4.84 | 4.12 | 6.54 | 4.57 | 3.19 | 1.34 |
| Free Cash Flow | 9.07B | 9.07B | 8.61B | 9.09B | 8.05B | 8.24B |
| Free Cash Flow Per Share | 5.42 | 5.39 | 5.01 | 5.12 | 4.46 | 4.46 |
| Dividend Per Share | 4.29 | 4.16 | 4.00 | 3.84 | 3.68 | 3.52 |
| Gross Margin | 72.43% | 72.31% | 70.13% | 69.53% | 87.45% | 66.03% |
| Operating Margin | 61.24% | 61.16% | 59.07% | 58.84% | 77.71% | 56.46% |
| Profit Margin | 39.24% | 34.40% | 54.96% | 39.57% | 27.80% | 11.67% |
| Free Cash Flow Margin | 43.96% | 45.06% | 42.12% | 44.34% | 38.92% | 39.01% |
| EBITDA | 12.86B | 12.58B | 12.36B | 12.34B | 16.30B | 12.16B |
| EBITDA Margin | 62.34% | 62.48% | 60.47% | 60.17% | 78.80% | 57.62% |
| D&A For EBITDA | 226.00M | 266.00M | 286.00M | 272.00M | 226.00M | 244.00M |
| EBIT | 12.64B | 12.32B | 12.08B | 12.06B | 16.08B | 11.92B |
| EBIT Margin | 61.24% | 61.16% | 59.07% | 58.84% | 77.71% | 56.46% |
| Effective Tax Rate | 23.41% | 26.01% | 17.53% | 25.60% | 21.99% | 35.28% |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 2.70B | 4.47B | 3.13B | 3.69B | 4.03B | 4.54B |
| Cash & Short-Term Investments | 2.70B | 4.47B | 3.13B | 3.69B | 4.03B | 4.54B |
| Accounts Receivable | 342.00M | 263.00M | 177.00M | 71.00M | 1.72B | |
| Other Receivables | 496.00M | 151.00M | 47.00M | |||
| Receivables | 342.00M | 263.00M | 177.00M | 567.00M | 1.87B | 47.00M |
| Inventory | 1.08B | 1.07B | 1.08B | 1.22B | 1.18B | 1.19B |
| Restricted Cash | 5.00M | 7.00M | 8.00M | 5.00M | 15.00M | |
| Other Current Assets | 670.00M | 118.00M | 121.00M | 112.00M | 123.00M | 298.00M |
| Total Current Assets | 4.80B | 5.93B | 4.51B | 5.58B | 7.22B | 6.08B |
| Property, Plant & Equipment | 1.67B | 1.71B | 1.62B | 1.65B | 1.61B | 1.55B |
| Long-Term Investments | 9.33B | 8.62B | 8.20B | 10.01B | 9.60B | 13.48B |
| Goodwill | 5.79B | 5.79B | 6.95B | 6.79B | 5.18B | 5.18B |
| Other Intangible Assets | 11.83B | 11.88B | 12.97B | 13.69B | 12.38B | 12.31B |
| Other Long-Term Assets | 1.07B | 1.09B | 934.00M | 845.00M | 965.00M | 923.00M |
| Total Assets | 34.48B | 35.02B | 35.18B | 38.57B | 36.95B | 39.52B |
| Accounts Payable | 778.00M | 750.00M | 700.00M | 582.00M | 552.00M | 449.00M |
| Accrued Expenses | 2.54B | 2.88B | 2.47B | 2.62B | 1.65B | 1.65B |
| Current Portion of Long-Term Debt | 1.18B | 1.57B | 1.53B | 1.12B | 1.56B | 1.10B |
| Current Unearned Revenue | 2.70B | 252.00M | 287.00M | |||
| Other Current Liabilities | 3.80B | 3.96B | 4.09B | 4.30B | 4.61B | 5.09B |
| Total Current Liabilities | 8.29B | 9.15B | 8.78B | 11.32B | 8.62B | 8.58B |
| Long-Term Debt | 22.89B | 24.14B | 23.40B | 25.11B | 25.12B | 26.94B |
| Long-Term Unearned Revenue | 2.70B | |||||
| Pension & Post-Retirement Benefits | 1.06B | 1.06B | 1.07B | 1.21B | 1.22B | 1.64B |
| Long-Term Deferred Tax Liabilities | 3.58B | 3.37B | 3.75B | 2.80B | 2.90B | 3.69B |
| Other Long-Term Liabilities | 840.00M | 744.00M | 365.00M | 1.62B | 324.00M | 283.00M |
| Total Liabilities | 36.65B | 38.47B | 37.37B | 42.06B | 40.88B | 41.13B |
| Common Stock | 935.00M | 935.00M | 935.00M | 935.00M | 935.00M | 935.00M |
| Additional Paid-In Capital | 5.92B | 5.92B | 5.91B | 5.91B | 5.89B | 5.86B |
| Retained Earnings | 37.05B | 35.45B | 35.52B | 31.09B | 29.79B | 30.66B |
| Treasury Stock | -43.91B | -43.18B | -42.19B | -38.80B | -37.82B | -36.01B |
| Comprehensive Income & Other | -2.21B | -2.63B | -2.40B | -2.67B | -2.77B | -3.06B |
| Total Common Equity | -2.23B | -3.50B | -2.24B | -3.54B | -3.97B | -1.61B |
| Minority Interest | 52.00M | 50.00M | 50.00M | 50.00M | 50.00M | |
| Shareholders' Equity | -2.17B | -3.45B | -2.19B | -3.49B | -3.92B | -1.61B |
| Total Liabilities & Equity | 34.48B | 35.02B | 35.18B | 38.57B | 36.95B | 39.52B |
| Total Debt | 24.06B | 25.71B | 24.93B | 26.23B | 26.68B | 28.04B |
| Net Cash (Debt) | -21.36B | -21.23B | -21.80B | -22.55B | -22.65B | -23.50B |
| Net Cash Per Share | -12.77 | -12.62 | -12.69 | -12.69 | -12.56 | -12.74 |
| Filing Date Shares Outstanding | 1.66B | 1.67B | 1.69B | 1.76B | 1.79B | 1.82B |
| Total Common Shares Outstanding | 1.66B | 1.67B | 1.69B | 1.76B | 1.79B | 1.82B |
| Working Capital | -3.49B | -3.22B | -4.27B | -5.73B | -1.40B | -2.50B |
| Book Value Per Share | -1.34 | -2.09 | -1.32 | -2.01 | -2.23 | -0.88 |
| Tangible Book Value | -19.84B | -21.16B | -22.16B | -24.02B | -21.53B | -19.09B |
| Tangible Book Value Per Share | -11.92 | -12.64 | -13.11 | -13.62 | -12.06 | -10.47 |
| Land | 125.00M | 124.00M | 123.00M | 123.00M | 123.00M | |
| Buildings | 1.57B | 1.55B | 1.53B | 1.48B | 1.42B | |
| Machinery | 2.65B | 2.66B | 2.68B | 2.58B | 2.65B | |
| Construction In Progress | 320.00M | 199.00M | 240.00M | 248.00M | 235.00M |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | 8.12B | 6.95B | 11.26B | 8.13B | 5.76B | 2.48B |
| Depreciation & Amortization | 226.00M | 266.00M | 286.00M | 272.00M | 226.00M | 244.00M |
| Loss (Gain) From Sale of Assets | -2.70B | |||||
| Asset Writedown & Restructuring Costs | 1.26B | 2.12B | 389.00M | |||
| Loss (Gain) on Equity Investments | -599.00M | -510.00M | -652.00M | -243.00M | 3.66B | 5.98B |
| Other Operating Activities | 255.00M | 393.00M | 15.00M | 1.18B | -804.00M | -296.00M |
| Change in Accounts Receivable | -93.00M | -86.00M | -106.00M | 6.00M | -21.00M | -18.00M |
| Change in Inventory | -77.00M | -27.00M | 102.00M | -15.00M | 14.00M | 57.00M |
| Change in Accounts Payable | 107.00M | 34.00M | 116.00M | 38.00M | 92.00M | 163.00M |
| Change in Income Taxes | 608.00M | 690.00M | 798.00M | 6.00M | -118.00M | -149.00M |
| Change in Other Net Operating Assets | -382.00M | -535.00M | -759.00M | -82.00M | -553.00M | -50.00M |
| Operating Cash Flow | 9.42B | 9.29B | 8.75B | 9.29B | 8.26B | 8.40B |
| Capital Expenditures | -351.00M | -216.00M | -142.00M | -196.00M | -205.00M | -169.00M |
| Cash Acquisitions | -2.75B | |||||
| Divestitures | 1.18B | |||||
| Sale (Purchase) of Intangibles | 1.70B | 1.00B | ||||
| Investment in Securities | 2.35B | |||||
| Other Investing Activities | -126.00M | -125.00M | -36.00M | -36.00M | -13.00M | 205.00M |
| Investing Cash Flow | -477.00M | -341.00M | 2.17B | -1.28B | 782.00M | 1.21B |
| Short-Term Debt Issued | 2.00B | |||||
| Long-Term Debt Issued | 1.99B | 998.00M | 5.47B | |||
| Total Debt Issued | 1.99B | 3.00B | 5.47B | |||
| Short-Term Debt Repaid | -2.00B | |||||
| Long-Term Debt Repaid | -1.61B | -1.12B | -1.57B | -1.10B | -6.54B | |
| Total Debt Repaid | -1.57B | -1.61B | -1.12B | -3.57B | -1.10B | -6.54B |
| Net Debt Issued (Repaid) | -1.57B | 385.00M | -1.12B | -568.00M | -1.10B | -1.07B |
| Repurchase of Common Stock | -1.02B | -1.00B | -3.40B | -1.00B | -1.82B | -1.68B |
| Common Dividends Paid | -7.12B | -6.96B | -6.84B | -6.78B | -6.60B | -6.45B |
| Other Financing Activities | -23.00M | -40.00M | -125.00M | -27.00M | -12.00M | -838.00M |
| Financing Cash Flow | -9.73B | -7.62B | -11.49B | -8.37B | -9.54B | -10.03B |
| Net Cash Flow | -785.00M | 1.33B | -563.00M | -370.00M | -503.00M | -412.00M |
| Free Cash Flow | 9.07B | 9.07B | 8.61B | 9.09B | 8.05B | 8.24B |
| Free Cash Flow Margin | 43.96% | 45.06% | 42.12% | 44.34% | 38.92% | 39.01% |
| Free Cash Flow Per Share | 5.42 | 5.39 | 5.01 | 5.12 | 4.46 | 4.46 |
| Levered Free Cash Flow | 7.06B | 7.33B | 4.61B | 13.09B | 8.35B | 7.37B |
| Unlevered Free Cash Flow | 7.78B | 8.07B | 5.32B | 13.80B | 9.05B | 8.11B |
| Cash Interest Paid | 1.11B | 1.11B | 1.11B | 1.12B | 1.12B | 1.19B |
| Cash Income Tax Paid | 1.70B | 1.70B | 1.71B | 1.87B | 2.66B | 2.67B |
| Change in Working Capital | 163.00M | 76.00M | 151.00M | -47.00M | -586.00M | 3.00M |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 129.80B | 96.79B | 88.62B | 71.35B | 81.92B | 87.05B |
| Enterprise Value | 151.16B | 119.07B | 111.93B | 94.96B | 105.73B | 112.27B |
| Last Close Price | 78.03 | 55.00 | 46.54 | 33.06 | 34.33 | 32.89 |
| PE Ratio | 16.12 | 13.97 | 7.89 | 8.79 | 14.24 | 35.33 |
| Forward PE | 13.26 | 10.42 | 9.78 | 8.01 | 9.20 | 10.03 |
| PS Ratio | 6.29 | 4.81 | 4.33 | 3.48 | 3.96 | 4.12 |
| PB Ratio | -28.04 | -40.50 | -20.44 | -20.88 | -54.21 | |
| P/FCF Ratio | 14.31 | 10.67 | 10.29 | 7.85 | 10.18 | 10.57 |
| P/OCF Ratio | 13.78 | 10.42 | 10.12 | 7.68 | 9.92 | 10.36 |
| PEG Ratio | 3.11 | 3.21 | 2.27 | 2.27 | 1.84 | 1.90 |
| EV/Sales Ratio | 7.33 | 5.91 | 5.47 | 4.63 | 5.11 | 5.32 |
| EV/EBITDA Ratio | 11.75 | 9.46 | 9.05 | 7.70 | 6.49 | 9.23 |
| EV/EBIT Ratio | 11.96 | 9.67 | 9.27 | 7.87 | 6.58 | 9.42 |
| EV/FCF Ratio | 16.66 | 13.12 | 13.00 | 10.45 | 13.13 | 13.63 |
| Debt / Equity Ratio | -11.07 | -7.45 | -11.39 | -7.52 | -6.80 | -17.46 |
| Debt / EBITDA Ratio | 1.87 | 2.04 | 2.02 | 2.13 | 1.64 | 2.31 |
| Debt / FCF Ratio | 2.65 | 2.83 | 2.90 | 2.89 | 3.31 | 3.40 |
| Net Debt / Equity Ratio | -9.83 | -6.15 | -9.96 | -6.46 | -5.77 | -14.63 |
| Net Debt / EBITDA Ratio | 1.66 | 1.69 | 1.76 | 1.83 | 1.39 | 1.93 |
| Net Debt / FCF Ratio | 2.35 | 2.34 | 2.53 | 2.48 | 2.81 | 2.85 |
| Asset Turnover | 0.59 | 0.57 | 0.55 | 0.54 | 0.54 | 0.49 |
| Inventory Turnover | 5.29 | 5.19 | 5.32 | 5.22 | 2.19 | 4.54 |
| Quick Ratio | 0.37 | 0.52 | 0.38 | 0.38 | 0.69 | 0.54 |
| Current Ratio | 0.58 | 0.65 | 0.51 | 0.49 | 0.84 | 0.71 |
| Return on Equity (ROE) | 364.24% | |||||
| Return on Assets (ROA) | 22.73% | 21.93% | 20.47% | 19.97% | 26.28% | 17.14% |
| Return on Invested Capital (ROIC) | 37.38% | 34.88% | 37.13% | 32.29% | 42.31% | 26.40% |
| Return on Capital Employed (ROCE) | 48.30% | 47.60% | 45.70% | 44.30% | 56.70% | 38.50% |
| Earnings Yield | 6.20% | 7.18% | 12.71% | 11.39% | 7.04% | 2.84% |
| FCF Yield | 6.99% | 9.38% | 9.72% | 12.74% | 9.83% | 9.46% |
| Dividend Yield | 5.69% | 7.20% | 7.63% | 9.49% | 8.02% | 7.37% |
| Payout Ratio | 91.72% | 100.19% | 60.77% | 83.38% | 114.49% | 260.44% |
| Buyback Yield / Dilution | 0.87% | 2.04% | 3.32% | 1.50% | 2.22% | 0.75% |
| Total Shareholder Return | 6.56% | 9.23% | 10.95% | 10.99% | 10.24% | 8.12% |