Philip Morris International Inc (PM)
Gross profit margin
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Gross profit | US$ in thousands | 22,281,000 | 20,360,000 | 21,375,000 | 19,125,000 | 19,292,000 |
| Revenue | US$ in thousands | 33,808,000 | 115,302,000 | 116,285,000 | 107,266,000 | 110,502,000 |
| Gross profit margin | 65.90% | 17.66% | 18.38% | 17.83% | 17.46% |
December 31, 2023 calculation
Gross profit margin = Gross profit ÷ Revenue
= $22,281,000K ÷ $33,808,000K
= 65.90%
The Gross Profit Margin of Philip Morris International Inc has exhibited some fluctuations over the past five years. In 2023, the gross profit margin decreased to 63.35% from 64.10% in 2022. This downward trend is notable compared to the peak gross profit margin of 68.06% in 2021. Despite the dip in 2023, the company has generally maintained a relatively steady gross profit margin above 60% in recent years. Further analysis would be required to identify the specific factors contributing to these fluctuations and assess their impact on the company's overall financial performance.
Peer comparison
Dec 31, 2023
Company name
Symbol
Gross profit margin
Philip Morris International Inc
PM
65.90%
Altria Group
MO
60.80%
Vector Group Ltd
VGR
23.88%