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Stocks · Consumer staples · Cigarettes

Altria

MO Clue Score54
United States Fiscal year ends December CIK 0000764180
$71.68 +0.36% Close, 9 Oct 2026
Alert on the numbers Alert on insider trades
Price $71.68 +53.46% Close, 9 Oct 2026

Closing prices at the end of each trading day, from 12 Oct 2016. Not a live quote. Adjusted for share splits, so the line has no step at a split; dividends are not added back. P/E and P/FCF are the market value over the last full fiscal year's net income or free cash flow, as public on each day, so they step once a year when the annual report comes out. A hatched band marks a stretch with none: a year of net loss, or of cash burnt.

Revenue and profit

What the business sells, and what is left of it. Point at a year for the detail.
RevenueOperating incomeNet income
Fiscal year 2016Revenue25.74Operating income8.76Net income14.24EPS, diluted7.28Fiscal year 2017Revenue25.58 −0.7%Operating income9.59Net income10.22 −28.2%EPS, diluted5.31 −27.1%Fiscal year 2018Revenue25.36 −0.8%Operating income9.12Net income6.96 −31.9%EPS, diluted3.68 −30.7%Fiscal year 2019Revenue25.11 −1.0%Operating income10.33Net income−1.29 −118.6%EPS, diluted−0.70 −119.0%Fiscal year 2020Revenue26.15 +4.2%Operating income10.87Net income4.47EPS, diluted2.40Fiscal year 2021Revenue26.01 −0.5%Operating income11.56Net income2.48 −44.6%EPS, diluted1.34 −44.2%Fiscal year 2022Revenue25.10 −3.5%Operating income11.92Net income5.76 +132.9%EPS, diluted3.19 +138.1%Fiscal year 2023Revenue24.48 −2.4%Operating income11.55Net income8.13 +41.0%EPS, diluted4.57 +43.3%Fiscal year 2024Revenue24.02 −1.9%Operating income11.24Net income11.26 +38.5%EPS, diluted6.54 +43.1%Fiscal year 2025Revenue23.28 −3.1%Operating income9.90Net income6.95 −38.3%EPS, diluted4.12 −37.0%
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue 25.74 25.58 25.36 25.11 26.15 26.01 25.10 24.48 24.02 23.28
Growth −0.7% −0.8% −1.0% +4.2% −0.5% −3.5% −2.4% −1.9% −3.1%
Operating income 8.76 9.59 9.12 10.33 10.87 11.56 11.92 11.55 11.24 9.90
Net income 14.24 10.22 6.96 −1.29 4.47 2.48 5.76 8.13 11.26 6.95
Growth −28.2% −31.9% −118.6% −44.6% +132.9% +41.0% +38.5% −38.3%
EPS, diluted 7.28 5.31 3.68 −0.70 2.40 1.34 3.19 4.57 6.54 4.12
Growth −27.1% −30.7% −119.0% −44.2% +138.1% +43.3% +43.1% −37.0%

Margins

How much of each dollar of revenue it keeps. Point at a year for the detail.
Gross marginOperating marginNet margin
Fiscal year 2016Gross margin45.0%Operating margin34.0%Net margin55.3%Free cash flow margin14.1%Fiscal year 2017Gross margin46.8%Operating margin37.5%Net margin40.0%Free cash flow margin18.4%Fiscal year 2018Gross margin48.3%Operating margin35.9%Net margin27.5%Free cash flow margin32.1%Fiscal year 2019Gross margin50.6%Operating margin41.1%Net margin−5.1%Free cash flow margin30.2%Fiscal year 2020Gross margin49.8%Operating margin41.6%Net margin17.1%Free cash flow margin31.2%Fiscal year 2021Gross margin53.8%Operating margin44.4%Net margin9.5%Free cash flow margin31.7%Fiscal year 2022Gross margin56.8%Operating margin47.5%Net margin23.0%Free cash flow margin32.1%Fiscal year 2023Gross margin58.3%Operating margin47.2%Net margin33.2%Free cash flow margin37.1%Fiscal year 2024Gross margin59.8%Operating margin46.8%Net margin46.9%Free cash flow margin35.9%Fiscal year 2025Gross margin62.5%Operating margin42.5%Net margin29.8%Free cash flow margin39.0%
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Gross margin 45.0% 46.8% 48.3% 50.6% 49.8% 53.8% 56.8% 58.3% 59.8% 62.5%
Operating margin 34.0% 37.5% 35.9% 41.1% 41.6% 44.4% 47.5% 47.2% 46.8% 42.5%
Net margin 55.3% 40.0% 27.5% −5.1% 17.1% 9.5% 23.0% 33.2% 46.9% 29.8%
Free cash flow margin 14.1% 18.4% 32.1% 30.2% 31.2% 31.7% 32.1% 37.1% 35.9% 39.0%

Cash flow

The cash the business makes, what it reinvests, and what it hands back. Point at a year for the detail.
Operating cash flowCapital expenditureFree cash flow
Fiscal year 2016Operating cash flow3.83Capital expenditure−0.19Free cash flow3.64Buybacks−1.03Dividends paid−4.51Fiscal year 2017Operating cash flow4.90Capital expenditure−0.20Free cash flow4.70 +29.3%Buybacks−2.92Dividends paid−4.81Fiscal year 2018Operating cash flow8.39Capital expenditure−0.24Free cash flow8.15 +73.4%Buybacks−1.67Dividends paid−5.42Fiscal year 2019Operating cash flow7.84Capital expenditure−0.25Free cash flow7.59 −6.9%Buybacks−0.85Dividends paid−6.07Fiscal year 2020Operating cash flow8.39Capital expenditure−0.23Free cash flow8.15 +7.4%Buybacks0.00Dividends paid−6.29Fiscal year 2021Operating cash flow8.41Capital expenditure−0.17Free cash flow8.24 +1.0%Buybacks−1.68Dividends paid−6.45Fiscal year 2022Operating cash flow8.26Capital expenditure−0.21Free cash flow8.05 −2.2%Buybacks−1.83Dividends paid−6.60Fiscal year 2023Operating cash flow9.29Capital expenditure−0.20Free cash flow9.09 +12.9%Buybacks−1.00Dividends paid−6.78Fiscal year 2024Operating cash flow8.75Capital expenditure−0.14Free cash flow8.61 −5.3%Buybacks−3.40Dividends paid−6.85Fiscal year 2025Operating cash flow9.29Capital expenditure−0.22Free cash flow9.07 +5.4%Buybacks−1.00Dividends paid−6.96
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Operating cash flow 3.83 4.90 8.39 7.84 8.39 8.41 8.26 9.29 8.75 9.29
Capital expenditure −0.19 −0.20 −0.24 −0.25 −0.23 −0.17 −0.21 −0.20 −0.14 −0.22
Free cash flow 3.64 4.70 8.15 7.59 8.15 8.24 8.05 9.09 8.61 9.07
Growth +29.3% +73.4% −6.9% +7.4% +1.0% −2.2% +12.9% −5.3% +5.4%
Buybacks −1.03 −2.92 −1.67 −0.85 0.00 −1.68 −1.83 −1.00 −3.40 −1.00
Dividends paid −4.51 −4.81 −5.42 −6.07 −6.29 −6.45 −6.60 −6.78 −6.85 −6.96

Balance sheet

What it holds against what it owes, at each year end. Point at a year for the detail.
CashTotal debt
Fiscal year 2016Cash4.57Total debt13.88Net cash (debt)−9.31Shareholders’ equity12.77Debt to equity1.09Fiscal year 2017Cash1.25Total debt13.89Net cash (debt)−12.64Shareholders’ equity15.38Debt to equity0.90Fiscal year 2018Cash1.33Total debt13.04Net cash (debt)−11.71Shareholders’ equity14.79Debt to equity0.88Fiscal year 2019Cash2.12Total debt28.04Net cash (debt)−25.93Shareholders’ equity6.22Debt to equity4.51Fiscal year 2020Cash4.95Total debt29.47Net cash (debt)−24.53Shareholders’ equity2.84Debt to equity10.38Fiscal year 2021Cash4.54Total debt28.04Net cash (debt)−23.50Shareholders’ equity−1.61Fiscal year 2022Cash4.03Total debt26.68Net cash (debt)−22.65Shareholders’ equity−3.97Fiscal year 2023Cash3.69Total debt26.23Net cash (debt)−22.55Shareholders’ equity−3.54Fiscal year 2024Cash3.13Total debt24.93Net cash (debt)−21.80Shareholders’ equity−2.24Fiscal year 2025Cash4.47Total debt25.71Net cash (debt)−21.24Shareholders’ equity−3.50
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Cash 4.57 1.25 1.33 2.12 4.95 4.54 4.03 3.69 3.13 4.47
Total debt 13.88 13.89 13.04 28.04 29.47 28.04 26.68 26.23 24.93 25.71
Net cash (debt) −9.31 −12.64 −11.71 −25.93 −24.53 −23.50 −22.65 −22.55 −21.80 −21.24
Shareholders’ equity 12.77 15.38 14.79 6.22 2.84 −1.61 −3.97 −3.54 −2.24 −3.50
Debt to equity 1.09 0.90 0.88 4.51 10.38 n/a n/a n/a n/a n/a

In billions of USD, except per-share figures and ratios. Fiscal years, as last filed with the SEC.

Financial statements FY2025 · 10-K

Ratios

Percentages worked out from the filed figures; debt to equity in times. Fiscal years ending December, each column as last filed with the SEC.
Click a line to chart it
Fiscal year FY2016 31 Dec 2016 FY2017 31 Dec 2017 FY2018 31 Dec 2018 FY2019 31 Dec 2019 FY2020 31 Dec 2020 FY2021 31 Dec 2021 FY2022 31 Dec 2022 FY2023 31 Dec 2023 FY2024 31 Dec 2024 FY2025 31 Dec 2025
Margins
45.0% 46.8% 48.3% 50.6% 49.8% 53.8% 56.8% 58.3% 59.8% 62.5%
34.0% 37.5% 35.9% 41.1% 41.6% 44.4% 47.5% 47.2% 46.8% 42.5%
84.9% 38.4% 36.8% 3.1% 26.3% 14.7% 29.4% 44.6% 56.9% 40.3%
55.3% 40.0% 27.5% −5.1% 17.1% 9.5% 23.0% 33.2% 46.9% 29.8%
14.1% 18.4% 32.1% 30.2% 31.2% 31.7% 32.1% 37.1% 35.9% 39.0%
Spending
0.8% 0.9% 1.0% 0.7% 0.5% 0.6% 0.6% 0.9% 0.9% 0.8%
0.7% 0.8% 0.9% 1.0% 0.9% 0.6% 0.8% 0.8% 0.6% 0.9%
34.8% −4.1% 25.4% 269.5% 35.4% 35.3% 22.0% 25.6% 17.5% 26.0%
Returns
111.5% 66.5% 47.1% −20.8% 157.3% n/a n/a n/a n/a n/a
31.0% 23.7% 12.6% −2.6% 9.4% 6.3% 15.6% 21.1% 32.0% 19.8%
Balance and payout
1.09 0.90 0.88 4.51 10.38 n/a n/a n/a n/a n/a
72.1% 64.3% 73.3% 87.1% 93.7% 104.1% 110.6% 109.0% 106.2% 109.9%
31.7% 47.0% 77.8% n/a 140.8% 260.4% 114.5% 83.4% 60.8% 100.2%
152.4% 164.3% 86.9% 91.1% 77.1% 98.6% 104.6% 85.6% 119.0% 87.7%