Philip Morris International Inc

PM: XNYS (USA)

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Philip Morris Earnings: Shares Fall on Higher US Zyn Investment; Fairly Valued as Growth Priced In

Kristoffer Inton

Oct 21, 2025

Philip Morris reported 5.9% organic revenue growth and 17.3% adjusted EPS growth excluding currency impacts in the third quarter. Smoke-free grew 13.9% organically, while combustibles grew 1% as price increases exceeded a 3.2% volume decline.

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How we make money

We sell different types of products and services to both investment professionals and individual investors. These products and services are usually sold through license agreements or subscriptions. Our investment management business generates asset-based fees, which are calculated as a percentage of assets under management. We also sell both admissions and sponsorship packages for our investment conferences and advertising on our websites and newsletters.

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Maintaining independence and editorial freedom is essential to our mission of empowering investor success. We provide a platform for our authors to report on investments fairly, accurately, and from the investor’s point of view. We also respect individual opinions––they represent the unvarnished thinking of our people and exacting analysis of our research processes. Our authors can publish views that we may or may not agree with, but they show their work, distinguish facts from opinions, and make sure their analysis is clear and in no way misleading or deceptive.

To further protect the integrity of our editorial content, we keep a strict separation between our sales teams and authors to remove any pressure or influence on our analyses and research.

Read our editorial policy to learn more about our process.

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Philip Morris International Inc

Philip Morris Earnings: Shares Fall on Higher US Zyn Investment; Fairly Valued as Growth Priced In

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