Philip Morris International Inc (PM)
Pretax margin
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Earnings before tax but after interest (EBT) | US$ in thousands | 10,152,000 | 11,292,000 | 11,780,000 | 10,433,000 | 9,478,000 |
| Revenue | US$ in thousands | 33,808,000 | 115,302,000 | 116,285,000 | 107,266,000 | 110,502,000 |
| Pretax margin | 30.03% | 9.79% | 10.13% | 9.73% | 8.58% |
December 31, 2023 calculation
Pretax margin = EBT ÷ Revenue
= $10,152,000K ÷ $33,808,000K
= 30.03%
The pretax margin of Philip Morris International Inc has fluctuated over the past five years. In 2023, the pretax margin decreased to 30.16% from 37.06% in 2022. This decline may indicate increased expenses relative to revenues, impacting the company's profitability before taxes. However, the 2023 pretax margin remains above the levels seen in 2020 and 2019, indicating a relatively strong performance compared to those years. Further analysis of the factors affecting expenses and revenues is necessary to understand the reasons behind the shift in the pretax margin for Philip Morris International Inc.
Peer comparison
Dec 31, 2023
Company name
Symbol
Pretax margin
Philip Morris International Inc
PM
30.03%
Altria Group
MO
46.51%
Vector Group Ltd
VGR
17.44%