Philip Morris International Inc. (PM), with a market cap of $155.81 billion, is a leading tobacco company committed to delivering a smoke-free future. Headquartered in Stamford, Connecticut, the company is evolving its portfolio to include products beyond tobacco and nicotine. PM's product range features cigarettes and smoke-free alternatives like heat-not-burn products, vaporizers, and oral nicotine products, primarily under the IQOS and ZYN brands. The company is renowned for its flagship brand, Marlboro, which is the best-selling cigarette brand worldwide.
Philip Morris has underperformed the broader market over the last year. The stock has gained 8.1% over this time frame, while the broader S&P 500 Index ($SPX) has rallied nearly 26.9%. But in 2024, the gap narrowed, with PM stock rising nearly 7%, while the SPX is up 11.6% on a YTD basis.
