Philip Morris International
Tobacco & smoke-free nicotine · United States
Philip Morris International sells Marlboro and other cigarettes in about 170 markets outside the United States and is shifting to smoke-free products: IQOS heated tobacco, ZYN nicotine pouches and VEEV vapes.
What makes it different
Over 40% of revenue already comes without smoke.
41.5%Smoke-free share of net revenuesFY2025
IQOS, ZYN and VEEV brought in $16.9B in 2025 as PMI works to end cigarette sales.
How big it is
How big is Philip Morris International?
$40.6BNet revenuesFY2025
786.5BUnits shippedFY2025
84,900Employees2025
How it makes money FY2025
Cigarettes still lead; smoke-free is catching up.
- Combustible tobacco59%$23.8B
- Smoke-free products42%$16.9B
How the business works
Fund smoke-free with Marlboro cash.
- 1Marlboro outside the U.S.
- 2Smokers to IQOS, ZYN
- 3Higher margin per stick
Each smoker who switches to IQOS earns PMI more gross profit than a pack of cigarettes did.
Who owns it
- The Vanguard Group8.57%
- Capital World Investors8.17%
- Capital International Investors6.61%
CEO: Jacek Olczak
Who it competes with
Key moments
- 1847Tobacco shop opens on Bond Street
- 1954Marlboro repositioned
- 1972Marlboro becomes world number one
- 2008Spun off from Altria
- 2014IQOS launched in Nagoya
Sources
Every number on this page comes from Philip Morris International's own reports.
Full profile
The rest of the story is in the app.
What Philip Morris International tracks25 metrics
Heated tobacco unit shipments
Adult smoke-free consumers
ZYN U.S. shipments
Results, quarter by quarterwith a chart
Revenue
Profit
Margin
Where the money comes from4 regions
Europe
South & Southeast Asia, CIS, Middle East & Africa
East Asia, Australia & Global Travel Retail
The full timeline21 moments
2024
2025
2026
Philip Morris International vs Altriaside by side
Revenue
Profit
People
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