Philip Morris International Inc (PM)
Gross profit margin
| Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross profit (ttm) | US$ in thousands | 24,549,000 | 23,851,000 | 23,282,000 | 22,898,000 | 22,281,000 | 21,637,000 | 20,758,000 | 20,203,000 | 20,360,000 | 20,716,000 | 21,145,000 | 21,202,000 | 21,375,000 | 20,950,000 | 20,454,000 | 19,685,000 | 19,125,000 | 19,188,000 | 19,195,000 | 19,757,000 |
| Revenue (ttm) | US$ in thousands | 37,277,000 | 36,342,000 | 35,311,000 | 34,513,000 | 53,999,000 | 74,368,000 | 95,357,000 | 115,671,000 | 115,302,000 | 116,067,000 | 116,655,000 | 116,360,000 | 116,285,000 | 94,126,000 | 92,269,000 | 88,660,000 | 87,178,000 | 87,447,000 | 87,638,000 | 90,928,000 |
| Gross profit margin | 65.86% | 65.63% | 65.93% | 66.35% | 41.26% | 29.09% | 21.77% | 17.47% | 17.66% | 17.85% | 18.13% | 18.22% | 18.38% | 22.26% | 22.17% | 22.20% | 21.94% | 21.94% | 21.90% | 21.73% |
December 31, 2024 calculation
Gross profit margin = Gross profit (ttm) ÷ Revenue (ttm)
= $24,549,000K ÷ $37,277,000K
= 65.86%
Philip Morris International Inc's gross profit margin has shown fluctuations over the past few years. The margin started at around 21-22% in the first three quarters of 2020, showing consistency. However, it then experienced a decline to around 18% by the end of 2021 and further dropped to around 17% by the third quarter of 2022, indicating potential challenges in maintaining profitability.
Subsequently, there was a significant improvement in the gross profit margin, jumping to 41.26% by the end of 2023, which continued to increase sharply to 66-67% in the first half of 2024, suggesting a remarkable turnaround in profitability.
The surge in the gross profit margin from late 2023 to mid-2024 indicates that Philip Morris International Inc might have implemented successful cost-cutting measures, increased sales of higher-margin products, or improved operational efficiencies. However, it's essential to monitor future results to see if the company can sustain or further improve this level of profitability.
Peer comparison
Dec 31, 2024
See also:
Philip Morris International Inc Gross Profit Margin (Quarterly Data)