Altria Group (MO) FY2023 results: revenue $24.5 billion, down 2.4% on the year
Altria Group, Inc. (MO) reported revenue of $24.5 billion for fiscal 2023, the year ended 31 December 2023, down 2.4% on the year before. Net income was $8.1 billion, up 41.0%, and diluted earnings per share $4.57. The figures are the company's own, from the 10-K it filed with the SEC on 27 February 2024.
Revenue
$24.5 billion
-2.4% on the year
FY2016FY2023
Operating margin
47.2%
47.5% a year earlier
FY2016FY2023
Net income
$8.1 billion
+41.0% on the year
FY2016FY2023
Diluted EPS
$4.57
+43.3% on the year
FY2016FY2023
this yearthe year beforeHover a bar for its figure.
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2023
FY2022
FY2021
On the year
Last 8 years
Operating cash flow
9,287
8,256
8,405
+12.5%
Capital expenditure
196
205
169
-4.4%
Free cash flow
9,091
8,051
8,236
+12.9%
Free cash flow margin
37.1%
32.1%
31.7%
Cash from investing
-1,283
782
1,212
Cash from financing
-8,374
-9,541
-10,029
Depreciation and amortisation
272
226
244
+20.4%
Buybacks
1,000
1,825
1,675
-45.2%
Dividends paid
6,779
6,599
6,446
+2.7%
Dividend per share
$3.84
$3.68
$3.52
+4.3%
Diluted shares, weighted
1,777m
1,804m
1,845m
-1.5%
Shares outstanding at period end
1,763m
1,786m
1,823m
-1.2%
Balance sheet
$ million
FY2023
FY2022
FY2021
On the year
Last 8 years
Shareholders' equity
-3,540
-3,973
-1,606
Non-controlling interest
50.0
50.0
0.0
0.0%
Redeemable equity
n/a
n/a
0.0
Short-term borrowings
0.0
0.0
0.0
Debt
26,233
26,680
28,044
-1.7%
Other liabilities
15,827
14,197
13,085
+11.5%
Total liabilities and equity
38,570
36,954
39,523
+4.4%
Fixed assets
1,652
1,608
1,553
+2.7%
Goodwill
6,791
5,177
5,177
+31.2%
Intangible assets
13,686
12,384
12,306
+10.5%
Cash and equivalents
3,686
4,030
4,544
-8.5%
Receivables
71.0
48.0
47.0
+47.9%
Inventory
1,215
1,180
1,194
+3.0%
Other assets
11,469
12,527
14,702
-8.4%
Total assets
38,570
36,954
39,523
+4.4%
10-K for the year ended 31 December 2023, filed 27 February 2024: the filing.