Altria Group, Inc.

Health Care
Medicinal Chemicals and Botanical Products
www.altria.com

Earnings Score
Safety Score

Market Cap $102.21B
Debt $28.69B
Cash $4.75B
EV $126.15B
FCF $8.45B

Earnings

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Sales & Net Margins

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Earnings	$10.18B
EBIT	$12.71B
ROA	36%
FCF	$8.45B
Equity	-$3.46B
Growth Stability	-12%
PE	10.04
PEG	0.2
PB	-29.54
P/FCF	12.09
P/S	4.31
Price/Cash	0.05
Debt/Equity	-8.29
Debt/FCF	3.39
Net Margins	20%
Gross Margins	60%
Op. Margins	54%
Earnings CAGR	-3%
Sales Growth YoY	-6%
Sales Growth QoQ	-12%
Sales CAGR	-1%
FCF CAGR	8%
Equity CAGR	0%
Earnings Stability	0.02
Earnings Growth YoY	-50%
Earnings Growth QoQ	-65%

Earnings CAGR 5Y	51%
Sales CAGR 5Y	-2%
FCF CAGR 5Y	2%
Equity CAGR 5Y	-0%
Earnings CAGR 3Y	-2%
Sales CAGR 3Y	-2%
FCF CAGR 3Y	3%
Market Cap	$102.21B
Revenue	$23.70B
Dividend Yield	7%
Payout Ratio	67%
Assets	$35.76B
Total Debt	$28.69B
Cash	$4.75B
Shares Outstanding	1.69B
EV	126.15B
Earnings Score	6%
Safety Score	36%
Working Capital	-4.58B
Current Ratio	0.57
Gross Profit	$14.34B
Shares Growth 3y	-3%
Equity Growth QoQ	58%
Equity Growth YoY	-32%

Assets & ROA

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Stockholders Equity & ROE

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Altria comprises Philip Morris USA, U.S. Smokeless Tobacco, John Middleton, Helix Innovations, and Philip Morris Capital, although the company plans to wind down Philip Morris Capital by the end of 2022. It holds a 10% interest in the world's largest brewer, Anheuser-Busch InBev. Through its tobacco subsidiaries, Altria holds the leading position in cigarettes and smokeless tobacco in the United States and the number-two spot in machine-made cigars. The company's Marlboro brand is the leading cigarette brand in the U.S. with a 43% share in 2020. Altria holds strategic investments in JUUL Labs (35% economic interest) and Cronos (42%).

SEC Filings

Direct access to Altria Group, Inc. (MO) Annual Reports (10K) and Quarterly Reports (10Q) from the SEC website.

2025
- 10-Q Mar 31
2024
- 10-K Dec 31
- 10-Q Sep 30
- 10-Q Jun 30
- 10-Q Mar 31
2023
- 10-K Dec 31
- 10-Q Sep 30
- 10-Q Jun 30
- 10-Q Mar 31

Sector Comparison

How does Altria Group, Inc. compare to its competitors?

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Peter Lynch's Chart

This chart shows the current pricing of Altria Group, Inc. compared to its past. The addition of the earnings trend line provides further insights into the company's earnings power.

CAGR -3%

Stability 2%

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Altria Group, Inc. Discounted Cash Flow

Fully customizable DCF calculator online for Altria Group, Inc..

Years

Calculation mode

= $151B

	0	1	2	3	4	5	6	7	8	9	10	TV
fcf	$8.5B	$9.2B	$9.9B	$11B	$12B	$13B	$14B	$15B	$16B	$18B	$19B	$190B
DCF		$8.3B	$8.2B	$8.1B	$8B	$7.9B	$7.8B	$7.6B	$7.5B	$7.4B	$7.3B	$73B
Value	$151B

Competitiveness and MOAT

High margins render the company resilient under dire circumstances, hence able to drive competitors out or acquire them. ROE and ROA measure the average flow generated by each invested dollar. Their marginal value is a forecast of future growth, and it is considered by Buffett and Munger the most important single indicator.

Years	12/2015	12/2016	12/2017	12/2018	12/2019	12/2020	12/2021	12/2022	12/2023	12/2024	TTM
Net Margins	21%	55%	40%	27%	-5%	17%	9%	23%	33%	47%	20%
ROA	-	48%	23%	17%	21%	23%	29%	32%	30%	39%	36%
ROE	-	111%	66%	47%	-21%	152%	-153%	-147%	-232%	-514%	-

Good Net Margins (20.38%)

Net Margins are high enough to offer a good protection on the profits in case of higher costs or higher interests. Furthermore higher margins reduce earnings’ volatility.

Safety and Stability

Being debt the number one cause of investment losses and company death, the ratio Debt/FCF is of utmost importance to guarantee safety. On the other hand the Graham’s stability measures the drawdown of earnings, hence indicating the reliability of the flow generated by the company.

Years	12/2015	12/2016	12/2017	12/2018	12/2019	12/2020	12/2021	12/2022	12/2023	12/2024	TTM
Debt over FCF	-	3.89	3.15	3.17	3.86	3.83	3.57	3.54	3.03	3.1	3.39
Debt over Equity	4.5	1.1	0.97	1.75	4.63	10.67	-18.31	-7.26	-7.9	-12.18	-8.29
Growth Stability	-	-	-	70%	-12%	84%	73%	100%	100%	100%	-12%

Neutral Debt/FCF ratio (3.39)

Net Margins are at a level that is not too high nor too low. They are not a competitive advantage but they are not a competitive disadvantage either.

Good Debt/Equity ratio (-8.29)

The company is not overleveraged and has a good balance between equity and debt.

Bad Graham’s Stability (-12%)

The company has a bad stability in its earnings, which is a sign of a bad competitive advantage.

Growth

Growth can be dangerous when forecasting, simply projecting the current growth is in general wrong. A company passes through multiple phases, from being young and unprofitable, to the first periods of profitability and high growth, until it arrives at a period of regime with limited growth. Identifying in which phase the company is in may help forecasting.

Years	12/2015	12/2016	12/2017	12/2018	12/2019	12/2020	12/2021	12/2022	12/2023	12/2024	CAGR 5Y
Revenue YoY growth	-	1%	-1%	-1%	-1%	4%	-1%	-4%	-2%	-2%	-2%
Earnings YoY growth	-	172%	-28%	-32%	-119%	-443%	-45%	133%	41%	38%	51%
Equity YoY growth	-	344%	20%	-4%	-57%	-54%	-155%	144%	-11%	-37%	-0%
FCF YoY growth	-	-35%	31%	73%	-7%	7%	1%	-2%	13%	-5%	2%