MO · Altria Group, Inc. - Financials
Annual line items from SEC XBRL filings, sourced from EDGAR's Company Facts API with fallback to the quarterly Financial Statement Data Sets. See issuer overview for Form 4 activity and 10-K signals.
Income Statement
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Revenue | $23.28B | $24.02B | $24.48B | $25.10B | $26.01B | $26.15B |
| Cost of Revenue | $5.60B | $6.08B | $6.22B | $6.44B | $7.12B | $7.82B |
| Gross Profit | $14.54B | $14.37B | $14.28B | $14.25B | $13.99B | $13.02B |
| R&D | $195.00M | $208.00M | $220.00M | $162.00M | $145.00M | $131.00M |
| SG&A | - | - | - | - | - | - |
| Total Operating Expenses | - | - | - | - | - | - |
| D&A | $266.00M | $286.00M | $272.00M | $226.00M | $244.00M | $257.00M |
| Operating Income | $9.90B | $11.24B | $11.55B | $11.92B | $11.56B | $10.87B |
| Interest Expense | $1.18B | $1.12B | $1.15B | $1.13B | $1.19B | $1.22B |
| Income Tax | $2.44B | $2.39B | $2.80B | $1.63B | $1.35B | $2.44B |
| Net Income | $6.95B | $11.26B | $8.13B | $5.76B | $2.48B | $4.47B |
| EPS - Basic | $4.12 | $6.54 | $4.57 | $3.19 | $1.34 | $2.40 |
| EPS - Diluted | $4.12 | $6.54 | $4.57 | $3.19 | $1.34 | $2.40 |
Balance Sheet
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Cash & Equivalents | $4.47B | $3.13B | $3.69B | $4.03B | $4.54B | $4.95B |
| Accounts Receivable | $263.00M | $177.00M | $71.00M | $48.00M | $47.00M | $137.00M |
| Inventory | $1.07B | $1.08B | $1.22B | $1.18B | $1.19B | $1.97B |
| Accounts Payable | $750.00M | $700.00M | $582.00M | $552.00M | $449.00M | $380.00M |
| Current Assets | $5.93B | $4.51B | $5.58B | $7.22B | $6.08B | $7.12B |
| Total Assets | $35.02B | $35.18B | $38.57B | $36.95B | $39.52B | $47.41B |
| Current Liabilities | $9.15B | $8.78B | $11.32B | $8.62B | $8.58B | $9.06B |
| Long-term Debt | $24.14B | $23.40B | $25.11B | $25.12B | $26.94B | $27.97B |
| Total Liabilities | $38.47B | $37.37B | $42.06B | $40.88B | $41.13B | $44.45B |
| Stockholders' Equity | ($3.50B) | ($2.24B) | ($3.54B) | ($3.97B) | ($1.61B) | $2.84B |
| Retained Earnings | $35.45B | $35.52B | $31.09B | $29.79B | $30.66B | $34.68B |
Cash Flow
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Operating Cash Flow | $9.29B | $8.75B | $9.29B | $8.26B | $8.40B | $8.38B |
| Investing Cash Flow | ($341.00M) | $2.17B | ($1.28B) | $782.00M | $1.21B | ($143.00M) |
| Financing Cash Flow | ($7.62B) | ($11.49B) | ($8.37B) | ($9.54B) | ($10.03B) | ($5.40B) |
| CapEx | $216.00M | $142.00M | $196.00M | $205.00M | $169.00M | $231.00M |
| Free Cash Flow | $9.07B | $8.61B | $9.09B | $8.05B | $8.24B | $8.15B |
Ratios
| Metric | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Profitability | ||||||
| Gross margin | 62.5% | 59.8% | 58.3% | 56.8% | 53.8% | 49.8% |
| Operating margin | 42.5% | 46.8% | 47.2% | 47.5% | 44.4% | 41.6% |
| EBITDA margin | 43.7% | 48.0% | 48.3% | 48.4% | 45.4% | 42.6% |
| Net margin | 29.8% | 46.9% | 33.2% | 23.0% | 9.5% | 17.1% |
| Free cash flow margin | 39.0% | 35.9% | 37.1% | 32.1% | 31.7% | 31.2% |
| FCF / Net income | 1.31 | 0.76 | 1.12 | 1.40 | 3.33 | 1.83 |
| R&D / Revenue | 0.8% | 0.9% | 0.9% | 0.6% | 0.6% | 0.5% |
| SG&A / Revenue | - | - | - | - | - | - |
| Effective tax rate | 26.0% | 17.5% | 25.6% | 22.0% | 35.3% | 35.3% |
| Return on assets | 19.8% | 32.0% | 21.1% | 15.6% | 6.3% | 9.4% |
| Return on equity | -198.4% | -503.3% | -229.7% | -145.1% | -154.1% | 157.3% |
| Return on invested capital | 35.5% | 43.8% | 39.8% | 44.0% | 29.5% | 22.8% |
| Liquidity | ||||||
| Current ratio | 0.65 | 0.51 | 0.49 | 0.84 | 0.71 | 0.79 |
| Quick ratio | 0.53 | 0.39 | 0.39 | 0.70 | 0.57 | 0.57 |
| Cash ratio | 0.49 | 0.36 | 0.33 | 0.47 | 0.53 | 0.55 |
| Leverage | ||||||
| Debt / Equity | -6.89 | -10.46 | -7.09 | -6.32 | -16.77 | 9.85 |
| Debt / Assets | 0.69 | 0.67 | 0.65 | 0.68 | 0.68 | 0.59 |
| Debt / EBITDA | 2.37 | 2.03 | 2.12 | 2.07 | 2.28 | 2.51 |
| Interest coverage | 8.4x | 10.0x | 10.0x | 10.6x | 9.7x | 8.9x |
| Equity multiplier | -10.00 | -15.72 | -10.90 | -9.30 | -24.61 | 16.70 |
| Liabilities / Assets | 1.10 | 1.06 | 1.09 | 1.11 | 1.04 | 0.94 |
| Efficiency | ||||||
| Asset turnover | 0.66 | 0.68 | 0.63 | 0.68 | 0.66 | 0.55 |
| Inventory turnover | 5.23 | 5.63 | 5.12 | 5.46 | 5.96 | 3.98 |
| Days sales outstanding | 4d | 3d | 1d | 1d | 1d | 2d |
| Days inventory outstanding | 70d | 65d | 71d | 67d | 61d | 92d |
| Days payable outstanding | 49d | 42d | 34d | 31d | 23d | 18d |
| Cash conversion cycle | 25d | 26d | 38d | 36d | 39d | 76d |
| Valuation | ||||||
| P / E | 14.0x | 8.0x | 8.8x | 14.3x | 35.4x | 17.1x |
| P / B | - | - | - | - | - | 26.8x |
| P / S | 4.2x | 3.7x | 2.9x | 3.3x | 3.4x | 2.9x |
| EV / EBITDA | 11.5x | 9.6x | 7.9x | 8.5x | 9.3x | 8.9x |
| Growth | ||||||
| Revenue growth (YoY) | -3.1% | -1.9% | -2.4% | -3.5% | -0.5% | 4.2% |
| Revenue CAGR (3y) | -2.5% | -2.6% | -2.2% | -0.0% | 0.3% | 0.7% |
| Revenue CAGR (5y) | -2.3% | -0.9% | -1.0% | -0.4% | 0.2% | 0.6% |
| Gross profit growth (YoY) | 1.2% | 0.6% | 0.3% | 1.8% | 7.4% | 2.5% |
| Operating income growth (YoY) | -11.9% | -2.7% | -3.1% | 3.1% | 6.3% | 5.3% |
| Net income growth (YoY) | -38.3% | 38.5% | 41.0% | 132.9% | -44.6% | - |
| EPS growth (YoY) | -37.0% | 43.1% | 43.3% | 138.1% | -44.2% | - |
| EPS CAGR (3y) | 8.9% | 69.6% | 23.9% | - | -43.1% | - |
| EPS CAGR (5y) | 11.4% | - | -8.9% | - | - | - |
| FCF growth (YoY) | 5.4% | -5.3% | 12.9% | -2.2% | 1.0% | 7.4% |
| FCF CAGR (5y) | 2.2% | 2.6% | 2.2% | 11.3% | 18.0% | 13.0% |
| Book value growth (YoY) | -56.5% | 36.8% | 10.9% | -147.4% | - | -54.4% |
Sales by segment
From XBRL dimensional facts in the 10-K period ending 2025-12-31.
Business segments
$23.28B totalSmokeable Products Segment$20.48B · 88.0%
Oral Tobacco Segment$2.80B · 12.0%
All Other Segments$5.00M · 0.0%
EVapor($13.00M) · -0.1%
Product / service
$20.48B totalCigarettes$19.25B · 94.0%
Cigars$1.24B · 6.0%
Stability scores
Altman Z′
FY 2025 · bankruptcy risk
2.30
Grey zone
Private-firm variant - uses book equity instead of market cap. > 2.90 safe · 1.23-2.90 grey · < 1.23 distress.
Piotroski F-score
FY 2025 · 9-point quality
6/9
Neutral
- ✓Net income positive
- ✓Operating cash flow positive
- ✗ROA improved YoY
- ✓Cash flow > net income
- ✗Long-term debt decreased
- ✓Current ratio improved
- ✓No share dilution
- ✓Gross margin improved
- ✗Asset turnover improved
Peer comparison
Same SIC group: Cigarettes
Comparing ALTRIA GROUP against the 5 most active filers in the same SIC group.
Dividends
$4.20/share trailing 12 months · +4.0% YoY
| Ex-date | Per share |
|---|---|
| Mar 25, 2026 | $1.0600 |
| Dec 26, 2025 | $1.0600 |
| Sep 15, 2025 | $1.0600 |
| Jun 16, 2025 | $1.0200 |
| Mar 25, 2025 | $1.0200 |
| Dec 26, 2024 | $1.0200 |
| Sep 16, 2024 | $1.0200 |
| Jun 14, 2024 | $0.9800 |
| Mar 22, 2024 | $0.9800 |
| Dec 20, 2023 | $0.9800 |
| Sep 14, 2023 | $0.9800 |
| Jun 14, 2023 | $0.9400 |
| Mar 23, 2023 | $0.9400 |
| Dec 21, 2022 | $0.9400 |
| Sep 14, 2022 | $0.9400 |
| Jun 14, 2022 | $0.9000 |
| Mar 24, 2022 | $0.9000 |
| Dec 22, 2021 | $0.9000 |
| Sep 14, 2021 | $0.9000 |
| Jun 14, 2021 | $0.8600 |
| Mar 24, 2021 | $0.8600 |
| Dec 24, 2020 | $0.8600 |
| Sep 14, 2020 | $0.8600 |
| Jun 12, 2020 | $0.8400 |