MO ALTRIA GROUP, INC.
NYSEConsumer staplesCigarettesRichmond, VAFY ends December 31
FY2025 at a glance
Fundamentals from SEC filings, not quotes- Revenue
- $23.3BYoYdown 3.08%ended Dec 31, 2025
- Net income
- $6.95B29.8% margin
- Diluted EPS
- $4.12YoYdown 37.00%
- Free cash flow
- $9.07B39.0% margin
- Cash
- $4.47BNet debt $21.2B
- Total debt
- $25.7B
Overview
ALTRIA GROUP, INC. (MO) is listed on NYSE; the SEC classifies it under "Cigarettes".
For fiscal 2025 (ended Dec 31, 2025) it reported revenue of $23.28B, down 3.1% from fiscal 2024.
Net income was $6.95B, a net margin of 29.8%.
At fiscal year end it had total assets of $35.02B and stockholders' equity of -$3.5B (-10.0% of assets).
- Fiscal years shown
- FY2016–FY2025 (10 years)
- Latest 10-K
- May 27, 2026
- Latest filing
- 10-QOct 29, 2026
Charts
Revenue and net income
| Period | Revenue | Net income | Net margin |
|---|---|---|---|
| FY2016 | $25.7B | $14.2B | 55.3% |
| FY2017 | $25.6B | $10.2B | 40.0% |
| FY2018 | $25.4B | $6.96B | 27.5% |
| FY2019 | $25.1B | -$1.29B | -5.1% |
| FY2020 | $26.2B | $4.47B | 17.1% |
| FY2021 | $26B | $2.48B | 9.5% |
| FY2022 | $25.1B | $5.76B | 23.0% |
| FY2023 | $24.5B | $8.13B | 33.2% |
| FY2024 | $24B | $11.3B | 46.9% |
| FY2025 | $23.3B | $6.95B | 29.8% |
Gross, operating and net margin
| Period | Gross margin | Operating margin | Net margin |
|---|---|---|---|
| FY2016 | 45.0% | 34.0% | 55.3% |
| FY2017 | 46.7% | 37.4% | 40.0% |
| FY2018 | 48.3% | 35.9% | 27.5% |
| FY2019 | 50.6% | 41.1% | -5.1% |
| FY2020 | 49.8% | 41.6% | 17.1% |
| FY2021 | 53.8% | 44.4% | 9.5% |
| FY2022 | 56.8% | 47.5% | 23.0% |
| FY2023 | 58.3% | 47.2% | 33.2% |
| FY2024 | 59.8% | 46.8% | 46.9% |
| FY2025 | 62.5% | 42.5% | 29.8% |
Diluted EPS
| Period | EPS (diluted) |
|---|---|
| FY2016 | — |
| FY2017 | — |
| FY2018 | $3.68 |
| FY2019 | -$0.70 |
| FY2020 | $2.40 |
| FY2021 | $1.34 |
| FY2022 | $3.19 |
| FY2023 | $4.57 |
| FY2024 | $6.54 |
| FY2025 | $4.12 |
Free cash flow vs net income
| Period | Free cash flow | Net income |
|---|---|---|
| FY2016 | $3.6B | $14.2B |
| FY2017 | $4.72B | $10.2B |
| FY2018 | $8.15B | $6.96B |
| FY2019 | $7.59B | -$1.29B |
| FY2020 | $8.15B | $4.47B |
| FY2021 | $8.24B | $2.48B |
| FY2022 | $8.05B | $5.76B |
| FY2023 | $9.09B | $8.13B |
| FY2024 | $8.61B | $11.3B |
| FY2025 | $9.07B | $6.95B |
Diluted shares
| Period | Diluted shares (weighted) |
|---|---|
| FY2016 | — |
| FY2017 | — |
| FY2018 | 1.89B |
| FY2019 | 1.87B |
| FY2020 | 1.86B |
| FY2021 | 1.85B |
| FY2022 | 1.8B |
| FY2023 | 1.78B |
| FY2024 | 1.72B |
| FY2025 | 1.68B |
Cash vs total debt
| Period | Cash & equivalents | Total debt |
|---|---|---|
| FY2016 | $4.57B | $13.9B |
| FY2017 | $1.25B | $13.9B |
| FY2018 | $1.33B | $25.7B |
| FY2019 | $2.12B | $28B |
| FY2020 | $4.95B | $29.5B |
| FY2021 | $4.54B | $28B |
| FY2022 | $4.03B | $26.7B |
| FY2023 | $3.69B | $26.2B |
| FY2024 | $3.13B | $24.9B |
| FY2025 | $4.47B | $25.7B |
Each bar is one fiscal year as reported in its 10-K; bars below the zero line are negative and gaps are years not reported. Per-share figures are as reported, not adjusted for stock splits; comparisons across a likely split are left blank.
Ratios
Profitability
- Gross margin
- 62.5%
- Operating margin
- 42.5%
- Net margin
- 29.8%
- FCF margin
- 39.0%
- Return on equity
- —
- Return on assets
- 19.8%
Growth
| Metric | 1y | 3y CAGR | 5y CAGR | 9y CAGR |
|---|---|---|---|---|
| Revenue | down 3.08% | down 2.47% | down 2.30% | — |
| EPS (diluted) | down 37.00% | up 8.90% | up 11.41% | — |
| Free cash flow | up 5.38% | up 4.07% | up 2.16% | up 10.81% |
- Change in share count
- -2.04%
Financial strength
- Current ratio
- 0.65×
- Liabilities / assets
- 109.9%
- Net debt
- $21.2B
- Interest coverage
- 8.41×
- Equity / assets
- -10.0%
Shareholder returns
- Dividends per share
- $4.16
- Dividends paid
- $6.96B
- Buybacks
- $1B
- Payout ratio
- 100.2%
Quality screens
Piotroski F-Score
7 of 9 checks passed
FY2025 vs FY2024
- PassPositive return on assets19.7%
- PassPositive operating cash flow$9.29B
- FailReturn on assets improved19.7% vs 29.2%
- PassOperating cash flow above net income26.4% vs 19.7%
- FailLong-term debt / assets fell68.9% vs 66.5%
- PassCurrent ratio improved0.65× vs 0.51×
- PassNo increase in share count1.68B vs 1.72B
- PassGross margin improved62.5% vs 59.8%
- PassAsset turnover improved0.66× vs 0.62×
Altman Z''-Score
FY2025
| Components | Ratio | Weight | Points |
|---|---|---|---|
| Working capital / assets | -0.092 | ×6.56 | -0.60 |
| Retained earnings / assets | 1.012 | ×3.26 | 3.30 |
| Operating income / assets | 0.283 | ×6.72 | 1.90 |
| Equity / liabilities | -0.091 | ×1.05 | -0.10 |
| Z'' | 4.50 | ||
Screening heuristic, not a recommendation. Per-share figures are as reported, not adjusted for stock splits; comparisons across a likely split are left blank.
Financial statements
USD millions, except per-share figures (USD). Share counts in millions.
Income statement
| Metric | FY2025Dec 31, 2025 | FY2024Dec 31, 2024 | FY2023Dec 31, 2023 | FY2022Dec 31, 2022 | FY2021Dec 31, 2021 | FY2020Dec 31, 2020 | FY2019Dec 31, 2019 | FY2018Dec 31, 2018 | FY2017Dec 31, 2017 | FY2016Dec 31, 2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 23,279 | 24,018 | 24,483 | 25,096 | 26,013 | 26,153 | 25,110 | 25,364 | 25,576 | 25,744 |
| YoY (Revenue) | -3.08% | -1.90% | -2.44% | -3.53% | -0.54% | +4.15% | -1.00% | — | -0.65% | — |
| Gross profit | 14,542 | 14,367 | 14,284 | 14,246 | 13,992 | 13,023 | 12,711 | 12,254 | 11,951 | 11,591 |
| Research & development | 195 | 208 | 220 | 162 | 145 | 131 | 168 | 252 | 241 | 203 |
| Operating income | 9,899 | 11,241 | 11,547 | 11,919 | 11,560 | 10,873 | 10,326 | 9,115 | 9,556 | 8,762 |
| Interest expense | 1,177 | 1,124 | 1,149 | 1,128 | 1,188 | 1,223 | 1,322 | 697 | 727 | 754 |
| Pretax income | 9,389 | 13,658 | 10,928 | 7,389 | 3,824 | 6,890 | 766 | 9,341 | 9,828 | 21,852 |
| Income tax | 2,442 | 2,394 | 2,798 | 1,625 | 1,349 | 2,436 | 2,064 | 2,374 | -399 | 7,608 |
| Net income | 6,947 | 11,264 | 8,130 | 5,764 | 2,475 | 4,467 | -1,293 | 6,963 | 10,222 | 14,239 |
| YoY (Net income) | -38.33% | +38.55% | +41.05% | +132.89% | -44.59% | — | -118.57% | -31.88% | -28.21% | — |
| EPS (basic) | 4.12 | 6.54 | 4.57 | 3.19 | 1.34 | 2.40 | -0.70 | 3.69 | — | — |
| EPS (diluted) | 4.12 | 6.54 | 4.57 | 3.19 | 1.34 | 2.40 | -0.70 | 3.68 | — | — |
| YoY (EPS (diluted)) | -37.00% | +43.11% | +43.26% | +138.06% | -44.17% | — | -119.02% | — | — | — |
| Diluted shares (weighted) | 1,683 | 1,718 | 1,777 | 1,804 | 1,845 | 1,859 | 1,869 | 1,888 | — | — |
Balance sheet
| Metric | FY2025Dec 31, 2025 | FY2024Dec 31, 2024 | FY2023Dec 31, 2023 | FY2022Dec 31, 2022 | FY2021Dec 31, 2021 | FY2020Dec 31, 2020 | FY2019Dec 31, 2019 | FY2018Dec 31, 2018 | FY2017Dec 31, 2017 | FY2016Dec 31, 2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & equivalents | 4,474 | 3,127 | 3,686 | 4,030 | 4,544 | 4,945 | 2,117 | 1,333 | 1,253 | 4,569 |
| Inventory | 1,070 | 1,080 | 1,215 | 1,180 | 1,194 | 1,966 | 2,293 | 2,331 | 2,225 | 2,051 |
| Current assets | 5,932 | 4,513 | 5,585 | 7,220 | 6,083 | 7,117 | 4,824 | 4,299 | 4,344 | 7,260 |
| Goodwill | 5,787 | 6,945 | 6,791 | 5,177 | 5,177 | 5,177 | 5,177 | 5,196 | 5,307 | 5,285 |
| Intangible assets | 11,876 | 12,973 | 13,686 | 12,384 | 12,306 | 12,615 | 12,687 | 12,279 | 12,400 | 12,036 |
| Total assets | 35,017 | 35,177 | 38,570 | 36,954 | 39,523 | 47,414 | 49,271 | 55,638 | 43,202 | 45,932 |
| Current liabilities | 9,154 | 8,781 | 11,319 | 8,616 | 8,579 | 9,063 | 8,174 | 21,193 | 6,792 | 7,375 |
| Short-term debt | 1,569 | 1,527 | 1,121 | 1,556 | 1,105 | 1,500 | 1,000 | 13,848 | 864 | 0 |
| Long-term debt | 24,140 | 23,399 | 25,112 | 25,124 | 26,939 | 27,971 | 27,042 | 11,898 | 13,030 | 13,881 |
| Total liabilities | 38,469 | 37,365 | 42,060 | 40,877 | 41,129 | 44,449 | 42,914 | 40,810 | 27,784 | 33,121 |
| Retained earnings | 35,452 | 35,516 | 31,094 | 29,792 | 30,664 | 34,679 | 36,539 | 43,962 | 42,251 | 36,906 |
| Stockholders' equity | -3,502 | -2,238 | -3,540 | -3,973 | -1,606 | 2,839 | 6,222 | 14,787 | 15,377 | 12,770 |
| Shares outstanding | 1,674 | 1,691 | 1,763 | 1,786 | 1,823 | 1,858 | 1,858 | 1,874 | 1,901 | 1,943 |
Cash flow
| Metric | FY2025Dec 31, 2025 | FY2024Dec 31, 2024 | FY2023Dec 31, 2023 | FY2022Dec 31, 2022 | FY2021Dec 31, 2021 | FY2020Dec 31, 2020 | FY2019Dec 31, 2019 | FY2018Dec 31, 2018 | FY2017Dec 31, 2017 | FY2016Dec 31, 2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | 9,290 | 8,753 | 9,287 | 8,256 | 8,405 | 8,385 | 7,837 | 8,391 | 4,922 | 3,791 |
| Capital expenditures | 216 | 142 | 196 | 205 | 169 | 231 | 246 | 238 | 199 | 189 |
| Free cash flow | 9,074 | 8,611 | 9,091 | 8,051 | 8,236 | 8,154 | 7,591 | 8,153 | 4,723 | 3,602 |
| YoY (Free cash flow) | +5.38% | -5.28% | +12.92% | -2.25% | +1.01% | +7.42% | -6.89% | +72.62% | +31.12% | — |
| Depreciation & amortization | 266 | 286 | 272 | 226 | 244 | 257 | 226 | 227 | 209 | 204 |
| Share repurchases | 1,000 | 3,400 | 1,000 | 1,825 | 1,675 | 0 | 845 | 1,673 | 2,917 | 1,030 |
| Dividends paid | 6,960 | 6,845 | 6,779 | 6,599 | 6,446 | 6,290 | 6,069 | 5,415 | 4,807 | 4,512 |
| Dividends per share | 4.16 | 4.00 | 3.84 | 3.68 | 3.52 | 3.40 | 3.28 | 3.00 | 2.54 | 2.35 |
Key financials (annual, 10-K)
Values as reported in each fiscal year's Form 10-K (XBRL data on SEC EDGAR); growth and ratios are computed from those values. Revenue is the total revenue figure the company tagged (omitted when the only figure tagged is evidently partial, e.g. below net income); growth is only shown between consecutive ~12-month fiscal years reported with the same revenue measure. Per-share figures and share counts are as reported and not adjusted for later stock splits. — = not reported.
Filing timeline
- 10-QNewQuarterly report· Sep 30, 2026(SEC EDGAR)
- 8-KNewCurrent report· Oct 28, 2026(SEC EDGAR)
- 2.02Results of operations
- 8.01Other events
- 9.01Financial statements and exhibits
- 8-KCurrent report· Oct 7, 2026(SEC EDGAR)
- 1.01Material agreement
- 9.01Financial statements and exhibits
- 8-KCurrent report· Aug 27, 2026(SEC EDGAR)
- 5.02Officer or director changes
- 7.01Regulation FD disclosure
- 9.01Financial statements and exhibits
- 10-QQuarterly report· Jun 30, 2026(SEC EDGAR)
- 8-KCurrent report· Jul 30, 2026(SEC EDGAR)
- 2.02Results of operations
- 9.01Financial statements and exhibits
- 10-K/AAnnual report (amendment)· Dec 31, 2025(SEC EDGAR)
- 8-KCurrent report· May 13, 2026(SEC EDGAR)
- 5.02Officer or director changes
- 5.07Shareholder vote results
- 9.01Financial statements and exhibits
- 10-QQuarterly report· Mar 31, 2026(SEC EDGAR)
- 8-KCurrent report· Apr 30, 2026(SEC EDGAR)
- 2.02Results of operations
- 9.01Financial statements and exhibits
Peers (same SIC code)
| Ticker | Revenue (FY) | YoY | Net margin | ROE | F-Score | 5y revenue |
|---|---|---|---|---|---|---|
| PMPhilip Morris International Inc. | $40.6B | — | 27.9% | — | — | — |
| MOALTRIA GROUP, INC. (This company) | $23.3B | down 3.08% | 29.8% | — | 7/9 | |
| BTIBritish American Tobacco p.l.c. | — | — | — | — | — | — |
| Peer median | $40.6B | — | 27.9% | — | — | — |
Companies with the same 4-digit SIC code, ordered by latest revenue. The median excludes this company. — = not reported or not computable.
Frequently asked questions
What does ALTRIA GROUP, INC. do?
The SEC classifies ALTRIA GROUP, INC. under Standard Industrial Classification (SIC) code 2111, "Cigarettes". It is headquartered in Richmond, VA. It is incorporated in VA. In fiscal 2025 it reported revenue of $23.28B and net income of $6.95B in its annual 10-K report.
What was ALTRIA GROUP, INC.'s revenue in 2025?
ALTRIA GROUP, INC. reported revenue of $23.28B for fiscal 2025, which ended Dec 31, 2025, down 3.1% from $24.02B in fiscal 2024, according to its annual 10-K report filed with the SEC on Feb 25, 2026.
What was ALTRIA GROUP, INC.'s net income in 2025?
ALTRIA GROUP, INC. reported net income of $6.95B for fiscal 2025, a net margin of 29.8% of revenue.
Where is ALTRIA GROUP, INC. listed?
According to the SEC, ALTRIA GROUP, INC.'s ticker MO is listed on NYSE.
When does ALTRIA GROUP, INC.'s fiscal year end?
According to the SEC, ALTRIA GROUP, INC.'s fiscal year ends on December 31; its latest reported fiscal year (2025) ended Dec 31, 2025.
Source: SEC EDGAR · Last updated:
Ver en españolNot investment advice: This page shows financial data that companies reported to the US Securities and Exchange Commission, for information only. It is not investment advice or a recommendation to buy or sell any security, and it shows no stock prices. Data may be incomplete, restated or out of date — check the original filings on SEC EDGAR before making decisions.