Philip Morris International Inc (PM)
Philip Morris International Inc is a leading global tobacco company known for its iconic Marlboro brand outside the U.S. The company is shifting focus from traditional cigarettes to reduced-risk products (RRPs), led by its IQOS heated tobacco system. PM aims to transition smokers to smoke-free alternatives by investing heavily in innovation, research, and international expansion, positioning itself as a science-driven transformation leader in the nicotine industry.
The company’s growth strategy hinges on the global rollout of IQOS and similar technologies, which now make up an increasing share of total revenue. Strong adoption in markets like Japan and parts of Europe showcases IQOS’s consumer traction. Regulatory support for reduced-risk products in some countries and rising consumer interest in non-combustible options provide tailwinds for sustained growth in the smoke-free segment.
Philip Morris is also expanding through acquisitions in wellness, inhaled therapeutics, and adjacent sectors to diversify its portfolio. Its robust cash flow supports shareholder returns through dividends and buybacks. With a clear mission to phase out cigarettes entirely in the long run, PM is uniquely positioned among legacy tobacco firms to lead a smoke-free future. Chart