Start with its own history
At 27.05×, PM is 37.8% above its 10-observation annual average. A lower multiple can reflect a lower price, higher earnings, or weaker growth expectations—not necessarily a bargain.
NYSE · PMTobaccoUpdated Nov 5, 2026
Philip Morris International Inc. P/E ratio
Current valuation, historical context, and peer comparisons.
Current P/E ratio
27.05×
37.8% abovethe 10-year annual average
Share price211.28
÷Earnings per share7.81
Price and EPS in quote currency. Calculation details
Investors are paying 27.05 for every 1 of reported earnings per share.
P/E over time
2016 – 2025
Annual P/ESelected-period average 19.63×
3-year average22.46×3 positive annual observations
5-year average20.21×5 positive annual observations
10-year average19.63×10 positive annual observations
Peer median · TTM16.01×8 peers with positive P/E
Historical P/E ratios
Annual period-end data · 18 observations
| Period end | P/E | Change |
|---|---|---|
| Dec 31, 2025 | 22.06× | -17.0% |
| Dec 31, 2024 | 26.57× | +41.8% |
| Dec 31, 2023 | 18.74× | +7.8% |
| Dec 31, 2022 | 17.39× | +6.7% |
| Dec 31, 2021 | 16.30× | +1.6% |
| Dec 31, 2020 | 16.04× | -13.1% |
| Dec 31, 2019 | 18.46× | +40.7% |
| Dec 31, 2018 | 13.12× | -51.8% |
View all 18 annual observations +
| Period end | P/E | Change |
|---|---|---|
| Dec 31, 2017 | 27.23× | +33.3% |
| Dec 31, 2016 | 20.42× | +2.7% |
| Dec 31, 2015 | 19.89× | +16.2% |
| Dec 31, 2014 | 17.11× | +3.3% |
| Dec 31, 2013 | 16.56× | +2.4% |
| Dec 31, 2012 | 16.18× | +2.7% |
| Dec 31, 2011 | 15.76× | +5.8% |
| Dec 31, 2010 | 14.89× | +0.4% |
| Dec 31, 2009 | 14.83× | +13.5% |
| Dec 31, 2008 | 13.07× | N/M |
Change is relative to the preceding observation. N/M values are excluded from averages.
How PM compares
Company P/E vs. peer trailing-12-month ratios
| Company | P/E ratio |
|---|---|
 PM This stockPhilip Morris International Inc. | 27.05× |
 BTIBritish American Tobacco p.l.c. | 15.90× |
 JAPAFJapan Tobacco Inc. | 22.22× |
 IMBBFImperial Brands PLC | 13.98× |
 033780.KSKT&G Corporation | 14.62× |
 RLXRLX Technology Inc. | 13.67× |
 SMORFSmoore International Holdings Limited | 38.89× |
 MOAltria Group, Inc. | 16.12× |
 TPBTurning Point Brands, Inc. | 29.58× |
Peers are selected by the data provider. Business models and earnings definitions can differ.
Put the numbers in context
What does PM’s P/E tell you?
Compare like with like
The median of the 8 positive peer ratios above is 16.01×. Check growth, margins, debt, and earnings quality before interpreting the gap. A faster-growing business may justify a higher multiple.
Check what drives earnings
One-off gains can temporarily lower P/E; unusual charges can raise it. Reported earnings and forward estimates answer different questions. Pair this view with return on equity and liquidity for a fuller picture.
Keep your research connected
Take PM into your spreadsheet
Pull historical P/E into Excel or Google Sheets with Wisesheets. Build your own comparisons alongside the rest of your financial model.
Explore WisesheetsQuarterly P/E · latest quarterLQ selects the latest reported quarter. Requires the Wisesheets add-in. See available data
=WISE("PM", "PE Ratio", "LQ")Sources & calculation methodology
Current P/E
Share price 211.28 ÷ EPS 7.81 = 27.05×. Data is supplied by Financial Modeling Prep through Wisesheets. Quote feed updated Nov 5, 2026; this is not a real-time trading quote.
History & averages
Annual and quarterly P/E observations are provided separately from the current quote. Averages use the latest 3, 5, or 10 annual observations, excluding missing and nonpositive ratios. Pre-IPO observations are omitted. These are period-end observations, not daily averages.
Data definitions and limitations
The current quote feed does not specify the exact EPS filing-period end or whether EPS is basic or diluted. We do not label it as forward P/E. Peer ratios are explicitly trailing-12-month (TTM) values. Historical observations do not include independently verified price and EPS inputs. Sources may update on different schedules; rounded inputs can produce small calculation differences. Historical comparisons describe past pricing, not an estimate of fair value.
PM P/E ratio: common questions
The essentials behind the numbers.
Philip Morris International Inc.'s current P/E is 27.05× based on the quote data last updated Nov 5, 2026. It represents the share price divided by reported earnings per share. Prices and earnings may refresh on different schedules.
Annual P/E uses earnings for a completed fiscal year. Trailing-12-month (TTM) P/E uses the latest four quarters, while forward P/E uses forecast earnings. These are not interchangeable. This page labels peer ratios as TTM and shows dated annual or quarterly historical observations; it does not show forward estimates.
N/M means not meaningful: the feed has no positive P/E for that observation. Negative or zero earnings should not be ranked as a low positive valuation multiple. N/M observations are excluded from the averages shown above.
Divide the share price by earnings per share (EPS). For example, a share price of 100 and EPS of 5 gives a P/E of 20×. This page uses the price and EPS supplied together in the quote when both are positive.
Price timestamps, EPS definitions, share classes, adjustments, and fiscal periods can differ. A forward P/E also uses forecast earnings rather than reported earnings. Compare the inputs and as-of dates before comparing two displayed ratios.
Not necessarily. The average describes previous market pricing, not fair value. Changes in earnings quality, growth expectations, debt, accounting, and business risk can justify a different multiple today.