Philip Morris International (PM) FY2022 results: revenue $31.8 billion, up 1.1% on the year
Philip Morris International Inc. (PM) reported revenue of $31.8 billion for fiscal 2022, the year ended 31 December 2022, up 1.1% on the year before. Net income was $9.0 billion, down 0.7%, and diluted earnings per share $5.81. The figures are the company's own, from the 10-K it filed with the SEC on 10 February 2023.
Revenue
$31.8 billion
+1.1% on the year
FY2015FY2022
Operating margin
38.6%
41.3% a year earlier
FY2015FY2022
Net income
$9.0 billion
-0.7% on the year
FY2015FY2022
Diluted EPS
$5.81
-0.3% on the year
FY2015FY2022
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
FY2022
FY2021
FY2020
On the year
Last 8 years
Operating cash flow
10,803
11,967
9,812
-9.7%
Capital expenditure
1,077
748
602
+44.0%
Free cash flow
9,726
11,219
9,210
-13.3%
Free cash flow margin
30.6%
35.7%
32.1%
Cash from investing
-15,679
-2,358
-1,154
Cash from financing
3,806
-11,977
-8,496
Depreciation and amortisation
1,077
998
981
+7.9%
Buybacks
209
775
0.0
-73.0%
Dividends paid
7,812
7,580
7,364
+3.1%
Dividend per share
$5.04
$4.90
$4.74
+2.9%
Diluted shares, weighted
1,552m
1,559m
1,558m
-0.4%
Balance sheet
$ million
FY2022
FY2021
FY2020
On the year
Last 8 years
Shareholders' equity
-8,957
-10,106
-12,567
Non-controlling interest
2,646
1,898
1,936
+39.4%
Debt
43,123
27,806
31,536
+55.1%
Operating lease liabilities
436
344
517
+26.7%
Finance lease liabilities
20.0
23.0
24.0
-13.0%
Other liabilities
24,413
21,325
23,369
+14.5%
Total liabilities and equity
61,681
41,290
44,815
+49.4%
Fixed assets
n/a
n/a
6,365
Goodwill
19,655
6,680
5,964
+194.2%
Intangible assets
6,732
2,818
2,019
+138.9%
Investments
4,431
4,463
4,798
-0.7%
Cash and equivalents
3,207
4,496
7,280
-28.7%
Receivables
3,850
3,123
2,905
+23.3%
Inventory
9,886
8,720
9,591
+13.4%
Other assets
13,920
10,990
5,893
+26.7%
Total assets
61,681
41,290
44,815
+49.4%
10-K for the year ended 31 December 2022, filed 10 February 2023: the filing.