Philip Morris International

At a glance

Buybacks

30.3%Buybacks as a share of free cash flowSEC EDGAR · CIK 00014133290001193125-10-041735 · FY2009 · period ended 2009-12-31 · filed 2010-02-26NetCashProvidedByUsedInOperatingActivities0001193125-10-041735 · FY2009 · period ended 2009-12-31 · filed 2010-02-26PaymentsForRepurchaseOfCommonStock0001193125-10-041735 · FY2009 · period ended 2009-12-31 · filed 2010-02-26PaymentsToAcquirePropertyPlantAndEquipment0001193125-11-046772 · FY2010 · period ended 2010-12-31 · filed 2011-02-25NetCashProvidedByUsedInOperatingActivities0001193125-11-046772 · FY2010 · period ended 2010-12-31 · filed 2011-02-25PaymentsForRepurchaseOfCommonStock0001193125-11-046772 · FY2010 · period ended 2010-12-31 · filed 2011-02-25PaymentsToAcquirePropertyPlantAndEquipment0001193125-12-076983 · FY2011 · period ended 2011-12-31 · filed 2012-02-24NetCashProvidedByUsedInOperatingActivities0001193125-12-076983 · FY2011 · period ended 2011-12-31 · filed 2012-02-24PaymentsForRepurchaseOfCommonStock0001193125-12-076983 · FY2011 · period ended 2011-12-31 · filed 2012-02-24PaymentsToAcquirePropertyPlantAndEquipment0001413329-13-000019 · FY2012 · period ended 2012-12-31 · filed 2013-02-22NetCashProvidedByUsedInOperatingActivities0001413329-13-000019 · FY2012 · period ended 2012-12-31 · filed 2013-02-22PaymentsForRepurchaseOfCommonStock0001413329-13-000019 · FY2012 · period ended 2012-12-31 · filed 2013-02-22PaymentsToAcquirePropertyPlantAndEquipment0001413329-14-000012 · FY2013 · period ended 2013-12-31 · filed 2014-02-21NetCashProvidedByUsedInOperatingActivities0001413329-14-000012 · FY2013 · period ended 2013-12-31 · filed 2014-02-21PaymentsForRepurchaseOfCommonStock0001413329-14-000012 · FY2013 · period ended 2013-12-31 · filed 2014-02-21PaymentsToAcquirePropertyPlantAndEquipment0001413329-15-000016 · FY2014 · period ended 2014-12-31 · filed 2015-02-20NetCashProvidedByUsedInOperatingActivities0001413329-15-000016 · FY2014 · period ended 2014-12-31 · filed 2015-02-20PaymentsForRepurchaseOfCommonStock0001413329-15-000016 · FY2014 · period ended 2014-12-31 · filed 2015-02-20PaymentsToAcquirePropertyPlantAndEquipment0001413329-16-000076 · FY2015 · period ended 2015-12-31 · filed 2016-02-17NetCashProvidedByUsedInOperatingActivities0001413329-16-000076 · FY2015 · period ended 2015-12-31 · filed 2016-02-17PaymentsForRepurchaseOfCommonStock0001413329-16-000076 · FY2015 · period ended 2015-12-31 · filed 2016-02-17PaymentsToAcquirePropertyPlantAndEquipment0001413329-17-000014 · FY2016 · period ended 2016-12-31 · filed 2017-02-14NetCashProvidedByUsedInOperatingActivities0001413329-17-000014 · FY2016 · period ended 2016-12-31 · filed 2017-02-14PaymentsForRepurchaseOfCommonStock0001413329-17-000014 · FY2016 · period ended 2016-12-31 · filed 2017-02-14PaymentsToAcquirePropertyPlantAndEquipment0001413329-18-000007 · FY2017 · period ended 2017-12-31 · filed 2018-02-13NetCashProvidedByUsedInOperatingActivities0001413329-18-000007 · FY2017 · period ended 2017-12-31 · filed 2018-02-13PaymentsForRepurchaseOfCommonStock0001413329-18-000007 · FY2017 · period ended 2017-12-31 · filed 2018-02-13PaymentsToAcquirePropertyPlantAndEquipment0001413329-22-000011 · FY2021 · period ended 2021-12-31 · filed 2022-02-11NetCashProvidedByUsedInOperatingActivities0001413329-22-000011 · FY2021 · period ended 2021-12-31 · filed 2022-02-11PaymentsForRepurchaseOfCommonStock0001413329-22-000011 · FY2021 · period ended 2021-12-31 · filed 2022-02-11PaymentsToAcquirePropertyPlantAndEquipment0001413329-23-000025 · FY2022 · period ended 2022-12-31 · filed 2023-02-10NetCashProvidedByUsedInOperatingActivities0001413329-23-000025 · FY2022 · period ended 2022-12-31 · filed 2023-02-10PaymentsForRepurchaseOfCommonStock0001413329-23-000025 · FY2022 · period ended 2022-12-31 · filed 2023-02-10PaymentsToAcquirePropertyPlantAndEquipment0001413329-24-000013 · FY2023 · period ended 2023-12-31 · filed 2024-02-08NetCashProvidedByUsedInOperatingActivities0001413329-24-000013 · FY2023 · period ended 2023-12-31 · filed 2024-02-08PaymentsForRepurchaseOfCommonStock0001413329-24-000013 · FY2023 · period ended 2023-12-31 · filed 2024-02-08PaymentsToAcquirePropertyPlantAndEquipment0001413329-25-000013 · FY2024 · period ended 2024-12-31 · filed 2025-02-06NetCashProvidedByUsedInOperatingActivities0001413329-25-000013 · FY2024 · period ended 2024-12-31 · filed 2025-02-06PaymentsForRepurchaseOfCommonStock0001413329-25-000013 · FY2024 · period ended 2024-12-31 · filed 2025-02-06PaymentsToAcquirePropertyPlantAndEquipment

Share of free cash flow, fiscal 2009–2017, 2021–2024

Details and every year

Dividends

75.6%Dividends as a share of free cash flowSEC EDGAR · CIK 00014133290001193125-10-041735 · FY2009 · period ended 2009-12-31 · filed 2010-02-26NetCashProvidedByUsedInOperatingActivities0001193125-10-041735 · FY2009 · period ended 2009-12-31 · filed 2010-02-26PaymentsOfDividends0001193125-10-041735 · FY2009 · period ended 2009-12-31 · filed 2010-02-26PaymentsToAcquirePropertyPlantAndEquipment0001193125-11-046772 · FY2010 · period ended 2010-12-31 · filed 2011-02-25NetCashProvidedByUsedInOperatingActivities0001193125-11-046772 · FY2010 · period ended 2010-12-31 · filed 2011-02-25PaymentsOfDividends0001193125-11-046772 · FY2010 · period ended 2010-12-31 · filed 2011-02-25PaymentsToAcquirePropertyPlantAndEquipment0001193125-12-076983 · FY2011 · period ended 2011-12-31 · filed 2012-02-24NetCashProvidedByUsedInOperatingActivities0001193125-12-076983 · FY2011 · period ended 2011-12-31 · filed 2012-02-24PaymentsOfDividends0001193125-12-076983 · FY2011 · period ended 2011-12-31 · filed 2012-02-24PaymentsToAcquirePropertyPlantAndEquipment0001413329-13-000019 · FY2012 · period ended 2012-12-31 · filed 2013-02-22NetCashProvidedByUsedInOperatingActivities0001413329-13-000019 · FY2012 · period ended 2012-12-31 · filed 2013-02-22PaymentsOfDividends0001413329-13-000019 · FY2012 · period ended 2012-12-31 · filed 2013-02-22PaymentsToAcquirePropertyPlantAndEquipment0001413329-14-000012 · FY2013 · period ended 2013-12-31 · filed 2014-02-21NetCashProvidedByUsedInOperatingActivities0001413329-14-000012 · FY2013 · period ended 2013-12-31 · filed 2014-02-21PaymentsOfDividends0001413329-14-000012 · FY2013 · period ended 2013-12-31 · filed 2014-02-21PaymentsToAcquirePropertyPlantAndEquipment0001413329-15-000016 · FY2014 · period ended 2014-12-31 · filed 2015-02-20NetCashProvidedByUsedInOperatingActivities0001413329-15-000016 · FY2014 · period ended 2014-12-31 · filed 2015-02-20PaymentsOfDividends0001413329-15-000016 · FY2014 · period ended 2014-12-31 · filed 2015-02-20PaymentsToAcquirePropertyPlantAndEquipment0001413329-16-000076 · FY2015 · period ended 2015-12-31 · filed 2016-02-17NetCashProvidedByUsedInOperatingActivities0001413329-16-000076 · FY2015 · period ended 2015-12-31 · filed 2016-02-17PaymentsOfDividends0001413329-16-000076 · FY2015 · period ended 2015-12-31 · filed 2016-02-17PaymentsToAcquirePropertyPlantAndEquipment0001413329-17-000014 · FY2016 · period ended 2016-12-31 · filed 2017-02-14NetCashProvidedByUsedInOperatingActivities0001413329-17-000014 · FY2016 · period ended 2016-12-31 · filed 2017-02-14PaymentsOfDividends0001413329-17-000014 · FY2016 · period ended 2016-12-31 · filed 2017-02-14PaymentsToAcquirePropertyPlantAndEquipment0001413329-18-000007 · FY2017 · period ended 2017-12-31 · filed 2018-02-13NetCashProvidedByUsedInOperatingActivities0001413329-18-000007 · FY2017 · period ended 2017-12-31 · filed 2018-02-13PaymentsOfDividends0001413329-18-000007 · FY2017 · period ended 2017-12-31 · filed 2018-02-13PaymentsToAcquirePropertyPlantAndEquipment0001413329-19-000007 · FY2018 · period ended 2018-12-31 · filed 2019-02-07NetCashProvidedByUsedInOperatingActivities0001413329-19-000007 · FY2018 · period ended 2018-12-31 · filed 2019-02-07PaymentsOfDividends0001413329-19-000007 · FY2018 · period ended 2018-12-31 · filed 2019-02-07PaymentsToAcquirePropertyPlantAndEquipment0001413329-20-000007 · FY2019 · period ended 2019-12-31 · filed 2020-02-07NetCashProvidedByUsedInOperatingActivities0001413329-20-000007 · FY2019 · period ended 2019-12-31 · filed 2020-02-07PaymentsOfDividends0001413329-20-000007 · FY2019 · period ended 2019-12-31 · filed 2020-02-07PaymentsToAcquirePropertyPlantAndEquipment0001413329-21-000007 · FY2020 · period ended 2020-12-31 · filed 2021-02-09NetCashProvidedByUsedInOperatingActivities0001413329-21-000007 · FY2020 · period ended 2020-12-31 · filed 2021-02-09PaymentsOfDividends0001413329-21-000007 · FY2020 · period ended 2020-12-31 · filed 2021-02-09PaymentsToAcquirePropertyPlantAndEquipment0001413329-22-000011 · FY2021 · period ended 2021-12-31 · filed 2022-02-11NetCashProvidedByUsedInOperatingActivities0001413329-22-000011 · FY2021 · period ended 2021-12-31 · filed 2022-02-11PaymentsOfDividends0001413329-22-000011 · FY2021 · period ended 2021-12-31 · filed 2022-02-11PaymentsToAcquirePropertyPlantAndEquipment0001413329-23-000025 · FY2022 · period ended 2022-12-31 · filed 2023-02-10NetCashProvidedByUsedInOperatingActivities0001413329-23-000025 · FY2022 · period ended 2022-12-31 · filed 2023-02-10PaymentsOfDividends0001413329-23-000025 · FY2022 · period ended 2022-12-31 · filed 2023-02-10PaymentsToAcquirePropertyPlantAndEquipment0001413329-24-000013 · FY2023 · period ended 2023-12-31 · filed 2024-02-08NetCashProvidedByUsedInOperatingActivities0001413329-24-000013 · FY2023 · period ended 2023-12-31 · filed 2024-02-08PaymentsOfDividends0001413329-24-000013 · FY2023 · period ended 2023-12-31 · filed 2024-02-08PaymentsToAcquirePropertyPlantAndEquipment0001413329-25-000013 · FY2024 · period ended 2024-12-31 · filed 2025-02-06NetCashProvidedByUsedInOperatingActivities0001413329-25-000013 · FY2024 · period ended 2024-12-31 · filed 2025-02-06PaymentsOfDividends0001413329-25-000013 · FY2024 · period ended 2024-12-31 · filed 2025-02-06PaymentsToAcquirePropertyPlantAndEquipment0001628280-26-005939 · FY2025 · period ended 2025-12-31 · filed 2026-02-06NetCashProvidedByUsedInOperatingActivities0001628280-26-005939 · FY2025 · period ended 2025-12-31 · filed 2026-02-06PaymentsOfDividends0001628280-26-005939 · FY2025 · period ended 2025-12-31 · filed 2026-02-06PaymentsToAcquirePropertyPlantAndEquipment

Share of free cash flow, fiscal 2009–2025

Details and every year

Acquisitions

19.9%Acquisitions as a share of free cash flowSEC EDGAR · CIK 00014133290001193125-10-041735 · FY2009 · period ended 2009-12-31 · filed 2010-02-26NetCashProvidedByUsedInOperatingActivities0001193125-10-041735 · FY2009 · period ended 2009-12-31 · filed 2010-02-26PaymentsToAcquireBusinessesNetOfCashAcquired0001193125-10-041735 · FY2009 · period ended 2009-12-31 · filed 2010-02-26PaymentsToAcquirePropertyPlantAndEquipment0001193125-11-046772 · FY2010 · period ended 2010-12-31 · filed 2011-02-25NetCashProvidedByUsedInOperatingActivities0001193125-11-046772 · FY2010 · period ended 2010-12-31 · filed 2011-02-25PaymentsToAcquireBusinessesNetOfCashAcquired0001193125-11-046772 · FY2010 · period ended 2010-12-31 · filed 2011-02-25PaymentsToAcquirePropertyPlantAndEquipment0001193125-12-076983 · FY2011 · period ended 2011-12-31 · filed 2012-02-24NetCashProvidedByUsedInOperatingActivities0001193125-12-076983 · FY2011 · period ended 2011-12-31 · filed 2012-02-24PaymentsToAcquireBusinessesNetOfCashAcquired0001193125-12-076983 · FY2011 · period ended 2011-12-31 · filed 2012-02-24PaymentsToAcquirePropertyPlantAndEquipment0001413329-13-000019 · FY2012 · period ended 2012-12-31 · filed 2013-02-22NetCashProvidedByUsedInOperatingActivities0001413329-13-000019 · FY2012 · period ended 2012-12-31 · filed 2013-02-22PaymentsToAcquireBusinessesNetOfCashAcquired0001413329-13-000019 · FY2012 · period ended 2012-12-31 · filed 2013-02-22PaymentsToAcquirePropertyPlantAndEquipment0001413329-14-000012 · FY2013 · period ended 2013-12-31 · filed 2014-02-21NetCashProvidedByUsedInOperatingActivities0001413329-14-000012 · FY2013 · period ended 2013-12-31 · filed 2014-02-21PaymentsToAcquireBusinessesNetOfCashAcquired0001413329-14-000012 · FY2013 · period ended 2013-12-31 · filed 2014-02-21PaymentsToAcquirePropertyPlantAndEquipment0001413329-15-000016 · FY2014 · period ended 2014-12-31 · filed 2015-02-20NetCashProvidedByUsedInOperatingActivities0001413329-15-000016 · FY2014 · period ended 2014-12-31 · filed 2015-02-20PaymentsToAcquireBusinessesNetOfCashAcquired0001413329-15-000016 · FY2014 · period ended 2014-12-31 · filed 2015-02-20PaymentsToAcquirePropertyPlantAndEquipment0001413329-16-000076 · FY2015 · period ended 2015-12-31 · filed 2016-02-17NetCashProvidedByUsedInOperatingActivities0001413329-16-000076 · FY2015 · period ended 2015-12-31 · filed 2016-02-17PaymentsToAcquireBusinessesNetOfCashAcquired0001413329-16-000076 · FY2015 · period ended 2015-12-31 · filed 2016-02-17PaymentsToAcquirePropertyPlantAndEquipment0001413329-17-000014 · FY2016 · period ended 2016-12-31 · filed 2017-02-14NetCashProvidedByUsedInOperatingActivities0001413329-17-000014 · FY2016 · period ended 2016-12-31 · filed 2017-02-14PaymentsToAcquireBusinessesNetOfCashAcquired0001413329-17-000014 · FY2016 · period ended 2016-12-31 · filed 2017-02-14PaymentsToAcquirePropertyPlantAndEquipment0001413329-22-000011 · FY2021 · period ended 2021-12-31 · filed 2022-02-11NetCashProvidedByUsedInOperatingActivities0001413329-22-000011 · FY2021 · period ended 2021-12-31 · filed 2022-02-11PaymentsToAcquirePropertyPlantAndEquipment0001413329-22-000011 · FY2021 · period ended 2021-12-31 · filed 2022-02-11pm:PaymentsToAcquireBusinessesAndAssetsNetOfCashAcquired0001413329-23-000025 · FY2022 · period ended 2022-12-31 · filed 2023-02-10NetCashProvidedByUsedInOperatingActivities0001413329-23-000025 · FY2022 · period ended 2022-12-31 · filed 2023-02-10PaymentsToAcquireBusinessesNetOfCashAcquired0001413329-23-000025 · FY2022 · period ended 2022-12-31 · filed 2023-02-10PaymentsToAcquirePropertyPlantAndEquipment

Share of free cash flow, fiscal 2009–2016, 2021–2022

Details and every year

Median ROIC

48.8%^rMedian return on invested capitalSEC EDGAR · CIK 00014133290001193125-10-041735 · FY2009 · period ended 2009-12-31 · filed 2010-02-26CashAndCashEquivalentsAtCarryingValue0001193125-10-041735 · FY2009 · period ended 2009-12-31 · filed 2010-02-26LongTermDebtCurrent0001193125-10-041735 · FY2009 · period ended 2009-12-31 · filed 2010-02-26LongTermDebtNoncurrent0001193125-10-041735 · FY2009 · period ended 2009-12-31 · filed 2010-02-26ShortTermBorrowings0001193125-10-041735 · FY2009 · period ended 2009-12-31 · filed 2010-02-26StockholdersEquity0001193125-11-046772 · FY2010 · period ended 2010-12-31 · filed 2011-02-25CashAndCashEquivalentsAtCarryingValue0001193125-11-046772 · FY2010 · period ended 2010-12-31 · filed 2011-02-25IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments0001193125-11-046772 · FY2010 · period ended 2010-12-31 · filed 2011-02-25IncomeTaxExpenseBenefit0001193125-11-046772 · FY2010 · period ended 2010-12-31 · filed 2011-02-25LongTermDebtCurrent0001193125-11-046772 · FY2010 · period ended 2010-12-31 · filed 2011-02-25LongTermDebtNoncurrent0001193125-11-046772 · FY2010 · period ended 2010-12-31 · filed 2011-02-25OperatingIncomeLoss0001193125-11-046772 · FY2010 · period ended 2010-12-31 · filed 2011-02-25ShortTermBorrowings0001193125-11-046772 · FY2010 · period ended 2010-12-31 · filed 2011-02-25StockholdersEquity0001193125-12-076983 · FY2011 · period ended 2011-12-31 · filed 2012-02-24CashAndCashEquivalentsAtCarryingValue0001193125-12-076983 · FY2011 · period ended 2011-12-31 · filed 2012-02-24IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments0001193125-12-076983 · FY2011 · period ended 2011-12-31 · filed 2012-02-24IncomeTaxExpenseBenefit0001193125-12-076983 · FY2011 · period ended 2011-12-31 · filed 2012-02-24LongTermDebtCurrent0001193125-12-076983 · FY2011 · period ended 2011-12-31 · filed 2012-02-24LongTermDebtNoncurrent0001193125-12-076983 · FY2011 · period ended 2011-12-31 · filed 2012-02-24OperatingIncomeLoss0001193125-12-076983 · FY2011 · period ended 2011-12-31 · filed 2012-02-24ShortTermBorrowings0001193125-12-076983 · FY2011 · period ended 2011-12-31 · filed 2012-02-24StockholdersEquityr: a later 10-K shows a different figure for IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments FY2011; OperatingIncomeLoss FY2011. As filed is shown.ROIC median over 2 of 16 years (FY2010 to FY2011); no ROIC shown for FY2012: closing capital: FY2012: equity at or below zero (−3.5 billion), so invested capital and ROIC are undefined; FY2013: opening capital: FY2012: equity at or below zero (−3.5 billion), so invested capital and ROIC are undefined; FY2014: opening capital: FY2013: equity at or below zero (−7.8 billion), so invested capital and ROIC are undefined; FY2015: opening capital: FY2014: equity at or below zero (−12.6 billion), so invested capital and ROIC are undefined; FY2016: opening capital: FY2015: equity at or below zero (−13.2 billion), so invested capital and ROIC are undefined; FY2017: opening capital: FY2016: equity at or below zero (−12.7 billion), so invested capital and ROIC are undefined; FY2018: opening capital: FY2017: equity at or below zero (−12.1 billion), so invested capital and ROIC are undefined; FY2019: opening capital: FY2018: equity at or below zero (−12.5 billion), so invested capital and ROIC are undefined; FY2020: opening capital: FY2019: equity at or below zero (−11.6 billion), so invested capital and ROIC are undefined; FY2021: opening capital: FY2020: equity at or below zero (−12.6 billion), so invested capital and ROIC are undefined; FY2022: opening capital: FY2021: equity at or below zero (−10.1 billion), so invested capital and ROIC are undefined; FY2023: opening capital: FY2022: equity at or below zero (−9.0 billion), so invested capital and ROIC are undefined; FY2024: opening capital: FY2023: equity at or below zero (−11.2 billion), so invested capital and ROIC are undefined; FY2025: opening capital: FY2024: equity at or below zero (−11.8 billion), so invested capital and ROIC are undefined

Return on invested capital, fiscal 2010–2011

Details and every year

Sections, fiscal 2009–2025

• Where the cash wentFree cash flow and what it was spent on — buybacks, dividends, acquisitions and debt — year by year.
• Return on capitalReturn on invested capital and on incremental capital, and up to three estimates of owner earnings.
• Management recordPrices paid for buybacks, debt against operating income, margins, share issuance and stock-based pay.