Stamford, Connecticut-based Philip Morris International Inc. (PM) is a global consumer goods company that manufactures and sells cigarettes and smoke-free nicotine products. Operating in about 170 markets, it is transforming its business by developing science-backed smoke-free alternatives while gradually reducing its reliance on traditional cigarettes. The company has a market capitalization of approximately $297.4 billion.
Shares of this leading tobacco company have underperformed the broader market over the past year. PM has gained 15% during this period, while the broader S&P 500 Index ($SPX) has rallied nearly 21.8%. However, the stock has gained momentum on a year-to-date basis, rising 16.8%, surpassing the index’s 11% gain over the same period.
