Altria Group (MO) Financials
A multiple compares the market's price with a filed figure; it says what the market pays, not how the business is doing. The market capitalization is the vendor's as of Sep 10, 2026; every other figure is from the SEC filings on this page. Not financial advice.
Newest figures come from the 10-Q for Q2 FY2026, filed Jul 30, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the MO SEC filings page.
Altria Group (MO) reported $23.5B in revenue over the twelve months to Jun 30, 2026, down 0.6% from the prior twelve months. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 15 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Margin expansion and cash conversion are absorbing shrinking revenue, while the balance sheet remains structurally leveraged.
Revenue declined across the reported period while gross margin widened to62.5% , indicating that a more favorable mix or lower unit costs—not volume growth—has protected gross profit. In FY2025, operating cash flow exceeded net income and free cash flow nearly matched it, showing that reported earnings translated into cash with little reinvestment drag.
Negative equity persists because total liabilities exceed total assets; the FY2025 current ratio of 0.6 also indicates that current assets remain below current liabilities. Long-term debt stood at
Capital intensity is low: FY2025 capital expenditures were
Financial Health Signals
Scored against operating companies for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →
Health score ≠ stock price. This rates the quality of Altria Group's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.
Altria Group has an operating margin of 42.5%, meaning the company retains $43 of operating profit per $100 of revenue. This strong profitability earns a score of 99/100, reflecting efficient cost management and pricing power. This is down from 46.8% the prior year.
Altria Group's revenue declined 3.1% year-over-year, from $24.0B to $23.3B. This contraction results in a growth score of 22/100.
Altria Group's current ratio of 0.65 is below the typical benchmark, resulting in a score of 7/100. This tight liquidity could limit financial flexibility if cash inflows slow.
Altria Group converts 39.0% of revenue into free cash flow ($9.1B). This strong cash generation earns a score of 97/100.
Altria Group scores 4.67, well above the 2.99 safe threshold. This indicates low bankruptcy risk based on profitability, leverage, and asset efficiency.
Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.
Altria Group passes 6 of 9 financial strength tests. 3 of 4 profitability signals pass, 2 of 3 leverage/liquidity signals pass, 1 of 2 efficiency signals pass.
For every $1 of reported earnings, Altria Group generates $1.34 in operating cash flow ($9.3B OCF vs $6.9B net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.
Altria Group earns $8.41 in operating income for every $1 of interest expense ($9.9B vs $1.2B). This wide margin provides strong safety for debt servicing, even if earnings decline temporarily.
Key Financial Metrics
Earnings & Revenue
Altria Group generated $6.1B in revenue in Q2 2026. This represents an increase of 0.1% from the same quarter a year earlier. Against the prior quarter it is up 12.6%.
Altria Group's EBITDA was $3.2B in Q2 2026, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 3.3% from the same quarter a year earlier. Against the prior quarter it is up 6.0%.
Altria Group reported $2.3B in net income in Q2 2026. This represents a decrease of 3.4% from the same quarter a year earlier. Against the prior quarter it is up 5.3%.
Altria Group earned $1.37 per diluted share (EPS) in Q2 2026. This represents a decrease of 2.8% from the same quarter a year earlier. Against the prior quarter it is up 5.4%.
Cash & Balance Sheet
Altria Group generated $662.0M in free cash flow in Q2 2026, representing cash available after capex. This represents an increase of 282.7% from the same quarter a year earlier. Against the prior quarter it is down 70.3%.
Altria Group held $2.4B in cash against $22.9B in long-term debt as of Q2 2026.
Altria Group paid $1.06 per share in dividends in Q2 2026. This represents an increase of 3.9% from the same quarter a year earlier. It is unchanged from the prior quarter.
Margins & Returns
Altria Group's gross margin was 62.5% in Q2 2026, indicating the percentage of revenue retained after direct costs. This is down 0.6 percentage points from the same quarter a year earlier. Against the prior quarter it is down 2.1 percentage points.
Altria Group's operating margin was 51.3% in Q2 2026, reflecting core business profitability. This is down 1.6 percentage points from the same quarter a year earlier. Against the prior quarter it is down 3.1 percentage points.
Altria Group's net profit margin was 37.6% in Q2 2026, showing the share of revenue converted to profit. This is down 1.4 percentage points from the same quarter a year earlier. Against the prior quarter it is down 2.6 percentage points.
Not reported for Q2 2026.
Capital Allocation
Altria Group spent $55.0M on share buybacks in Q2 2026, returning capital to shareholders by reducing shares outstanding. This represents a decrease of 79.9% from the same quarter a year earlier. Against the prior quarter it is down 80.4%.
Altria Group invested $57.0M in capex in Q2 2026, funding long-term assets and infrastructure. This represents an increase of 78.1% from the same quarter a year earlier. Against the prior quarter it is down 38.7%.
Not reported for Q2 2026.
MO Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Revenue | $6.1B+0.1% | $5.4B+3.2% | $5.8B-2.1% | $6.1B-3.0% | $6.1B-1.7% | $5.3B-5.7% | $6.0B0.0% | $6.3B-0.4% |
| Cost of Revenue | $1.5B+6.7% | $1.3B-1.4% | $1.4B-3.6% | $1.4B-6.3% | $1.4B-10.1% | $1.3B-11.6% | $1.5B-1.5% | $1.5B-2.7% |
| Gross Profit | $3.8B-0.8% | $3.5B+7.9% | $3.6B+0.7% | $3.8B+0.1% | $3.9B+4.8% | $3.2B-0.9% | $3.6B+3.0% | $3.8B+2.9% |
| Operating Income | $3.1B-2.9% | $3.0B+65.3% | $1.7B-42.7% | $3.2B+2.5% | $3.2B+27.5% | $1.8B-33.1% | $2.9B+3.1% | $3.2B+2.0% |
| EBITDA | $3.2B-3.3% | $3.0B+62.0% | $1.7B-42.3% | $3.3B+2.3% | $3.3B+26.6% | $1.9B-32.1% | $3.0B+2.8% | $3.2B+1.8% |
| Interest Expense | $295.0M+7.3% | $258.0M-1.5% | $362.0M+5.8% | $278.0M+4.1% | $275.0M+5.4% | $262.0M+3.1% | $342.0M-82.1% | $267.0M-1.8% |
| Income Tax | $631.0M-14.7% | $676.0M+11.6% | $396.0M+251.1% | $700.0M-4.5% | $740.0M-43.6% | $606.0M-0.7% | -$262.0M-138.8% | $733.0M-1.2% |
| Net Income | $2.3B-3.4% | $2.2B+102.7% | $1.1B-63.2% | $2.4B+3.6% | $2.4B-37.5% | $1.1B-49.4% | $3.0B+47.5% | $2.3B+5.9% |
| EPS (Basic) | $1.37-2.8% | $1.30+106.3% | $0.67-62.6% | $1.41+5.2% | $1.41-36.2% | $0.63-47.9% | $1.79+53.0% | $1.34+9.8% |
| EPS (Diluted) | $1.37-2.8% | $1.30+106.3% | $0.67-62.6% | $1.41+5.2% | $1.41-36.2% | $0.63-47.9% | $1.79+53.0% | $1.34+9.8% |
| Diluted Shares (Avg) | 1.67B-0.8% | 1.67B-1.0% | N/A | 1.68B-1.4% | 1.68B-2.0% | 1.69B-3.9% | N/A | 1.70B-3.9% |
Not reported in any period shown, so not listed: R&D Expenses, SG&A Expenses.
MO Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $33.4B+3.2% | $34.6B-3.3% | $35.0B-0.5% | $35.0B+2.5% | $32.3B-6.0% | $35.8B-2.0% | $35.2B-8.8% | $34.2B-6.3% |
| Current Assets | $4.0B+52.8% | $5.2B-14.4% | $5.9B+31.4% | $5.1B+46.3% | $2.6B-25.6% | $6.1B+17.0% | $4.5B-19.2% | $3.5B+3.2% |
| Cash & Equivalents | $2.4B+83.9% | $3.5B-25.3% | $4.5B+43.1% | $3.5B+83.0% | $1.3B-28.5% | $4.7B+31.0% | $3.1B-15.2% | $1.9B+23.4% |
| Short-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Inventory | $1.1B+4.3% | $1.1B+7.9% | $1.1B-0.9% | $1.1B-3.3% | $1.0B-13.5% | $1.1B-14.4% | $1.1B-11.1% | $1.1B-6.2% |
| Long-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Goodwill | $5.8B-4.7% | $5.8B-4.7% | $5.8B-16.7% | $6.1B-12.6% | $6.1B-12.6% | $6.1B-12.6% | $6.9B+2.3% | $6.9B+2.3% |
| Total Liabilities | $36.0B+1.3% | $37.7B-3.8% | $38.5B+3.0% | $37.6B+0.1% | $35.5B-4.9% | $39.2B-5.6% | $37.4B-11.2% | $37.6B-5.6% |
| Current Liabilities | $7.8B+14.5% | $8.4B-21.1% | $9.2B+4.2% | $8.3B+3.6% | $6.8B-12.8% | $10.7B-2.6% | $8.8B-22.4% | $8.0B-23.0% |
| Non-Current Liabilities | $28.2B-1.8% | $29.3B+2.7% | $29.3B+2.6% | $29.3B-0.9% | $28.8B-2.8% | $28.6B-6.7% | $28.6B-7.0% | $29.6B+0.5% |
| Long-Term Debt | $22.9B-3.2% | $24.1B+2.7% | $24.1B+3.2% | $24.1B+2.4% | $23.7B+0.8% | $23.4B-6.4% | $23.4B-6.8% | $23.6B-1.7% |
| Total Equity | -$2.7B+18.1% | -$3.2B+8.5% | -$3.5B-56.5% | -$2.6B+23.7% | -$3.3B-8.0% | -$3.5B+31.4% | -$2.2B+36.8% | -$3.5B-1.8% |
| Retained Earnings | $36.4B+2.4% | $35.9B+2.8% | $35.5B-0.2% | $36.1B+5.6% | $35.5B+5.6% | $34.9B+10.6% | $35.5B+14.2% | $34.2B+11.2% |
Not reported in any period shown, so not listed: Accounts Receivable.
MO Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $719.0M+250.7% | $2.3B-14.6% | $3.3B-2.1% | $3.1B+18.5% | $205.0M+373.3% | $2.7B-5.5% | $3.3B+3.5% | $2.6B-11.6% |
| Depreciation & Amortization | $56.0M-21.1% | $56.0M-21.1% | $54.0M-26.0% | $70.0M-5.4% | $71.0M-4.1% | $71.0M+9.2% | $73.0M-6.4% | $74.0M-7.5% |
| Capital Expenditures | $57.0M+78.1% | $93.0M+144.7% | $92.0M+95.7% | $54.0M+74.2% | $32.0M+10.3% | $38.0M+8.6% | $47.0M-11.3% | $31.0M-22.5% |
| Free Cash Flow | $662.0M+282.7% | $2.2B-16.8% | $3.2B-3.5% | $3.0B+17.8% | $173.0M+266.3% | $2.7B-5.6% | $3.3B+3.7% | $2.6B-11.4% |
| Investing Cash Flow | -$57.0M-58.3% | -$109.0M-153.5% | -$202.0M-220.6% | -$60.0M-46.3% | -$36.0M+2.7% | -$43.0M-101.9% | -$63.0M+4.5% | -$41.0M-102.5% |
| Financing Cash Flow | -$1.8B+49.3% | -$3.2B-191.0% | -$2.1B-1.3% | -$849.0M+65.7% | -$3.6B-112.5% | -$1.1B+79.4% | -$2.0B-100.5% | -$2.5B+37.0% |
| Dividends Paid | $1.8B+3.0% | $1.8B+2.9% | $1.8B+2.8% | $1.7B+2.0% | $1.7B+2.2% | $1.7B-0.2% | $1.7B-0.1% | $1.7B+0.8% |
| Share Buybacks | $55.0M-79.9% | $280.0M-14.1% | $288.0M-7.1% | $112.0M-83.5% | $274.0M+2640.0% | $326.0M-86.4% | $310.0M+15.7% | $680.0M+161.5% |
Not reported in any period shown, so not listed: Stock-Based Compensation.
MO Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 62.5%-0.6pp | 64.6%+2.8pp | 62.1%+1.8pp | 62.8%+1.9pp | 63.1%+3.9pp | 61.8%+3.0pp | 60.3%+1.8pp | 60.8%+2.0pp |
| Operating Margin | 51.3%-1.6pp | 54.5%+20.5pp | 28.2%-20.0pp | 53.2%+2.8pp | 52.9%+12.1pp | 34.0%-14.0pp | 48.2%+1.5pp | 50.4%+1.2pp |
| Net Margin | 37.6%-1.4pp | 40.2%+19.7pp | 19.1%-31.8pp | 39.1%+2.5pp | 39.0%-22.3pp | 20.5%-17.7pp | 50.9%+16.4pp | 36.6%+2.2pp |
| Return on Assets | 6.9%-0.5pp | 6.3%+3.3pp | 3.2%-5.5pp | 6.8%+0.1pp | 7.3%-3.7pp | 3.0%-2.8pp | 8.6%+3.3pp | 6.7%+0.8pp |
| Current Ratio | 0.52+0.1x | 0.620.0x | 0.65+0.1x | 0.62+0.2x | 0.39-0.1x | 0.57+0.1x | 0.510.0x | 0.44+0.1x |
| Asset Turnover | 0.180.0x | 0.160.0x | 0.170.0x | 0.170.0x | 0.190.0x | 0.150.0x | 0.170.0x | 0.180.0x |
| FCF Margin | 10.8%+8.0pp | 41.1%-9.9pp | 54.4%-0.7pp | 50.1%+8.9pp | 2.8%+4.5pp | 51.0%0.0pp | 55.1%+2.0pp | 41.2%-5.1pp |
Not reported in any period shown, so not listed: Return on Equity, Debt-to-Equity.
Note: Shareholder equity is negative (-$3.5B), which causes debt-to-equity and return on equity ratios to appear negative or not meaningful. This can occur from accumulated losses or large share buyback programs.
Note: The current ratio is below 1.0 (0.65), indicating current liabilities exceed current assets, which may suggest potential short-term liquidity concerns.
Similar Companies
Newest fiscal year on record for each company. The health score is the peer-relative Financial Health Score for that year; a dash means no score is published for it.
| Company | Fiscal year | Revenue | Net income | Net margin | Market cap | Health score |
|---|---|---|---|---|---|---|
| Altria Group MO | FY2025 | $23.3B | $6.9B | 29.8% | $113.4B | 59/100 |
| Philip Morris International Inc. PM | FY2025 | $40.6B | $11.3B | 27.9% | $287.9B | 64/100 |
| Rlx Technology Inc RLX | FY2025 | $566.1M | $131.8M | 23.3% | $2.2B | 68/100 |
| Turning Pt Brands Inc TPB | FY2025 | $463.1M | $58.2M | 12.6% | $1.5B | 80/100 |
| Anheuser-Busch InBev SA/NV BUD | FY2025 | $59.3B | $8.5B | 14.3% | $157.0B | 29/100 |
Where Altria Group Ranks
Frequently Asked Questions
What is Altria Group's annual revenue?
Altria Group (MO) reported $23.3B in total revenue for fiscal year 2025. This represents a -3.1% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Altria Group's revenue growing?
Altria Group (MO) revenue declined by 3.1% year-over-year, from $24.0B to $23.3B in fiscal year 2025.
Is Altria Group profitable?
Yes, Altria Group (MO) reported a net income of $6.9B in fiscal year 2025, with a net profit margin of 29.8%.
What is Altria Group's EBITDA?
Altria Group (MO) had EBITDA of $10.2B in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
How much debt does Altria Group have?
As of fiscal year 2025, Altria Group (MO) had $4.5B in cash and equivalents against $24.1B in long-term debt.
What is Altria Group's gross margin?
Altria Group (MO) had a gross margin of 62.5% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.
What is Altria Group's operating margin?
Altria Group (MO) had an operating margin of 42.5% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
What is Altria Group's net profit margin?
Altria Group (MO) had a net profit margin of 29.8% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
Does Altria Group pay dividends?
Yes, Altria Group (MO) paid $4.16 per share in dividends during fiscal year 2025.
What is Altria Group's free cash flow?
Altria Group (MO) generated $9.1B in free cash flow during fiscal year 2025. This represents a 5.4% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is Altria Group's operating cash flow?
Altria Group (MO) generated $9.3B in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Altria Group's total assets?
Altria Group (MO) had $35.0B in total assets as of fiscal year 2025, including both current and long-term assets.
What are Altria Group's capital expenditures?
Altria Group (MO) invested $216.0M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
How much does Altria Group spend on research and development?
Altria Group (MO) invested $195.0M in research and development during fiscal year 2025.
What is Altria Group's current ratio?
Altria Group (MO) had a current ratio of 0.65 as of fiscal year 2025, which is below 1.0, which may suggest potential liquidity concerns.
What is Altria Group's return on assets (ROA)?
Altria Group (MO) had a return on assets of 19.8% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Altria Group's P/E ratio?
Altria Group (MO) trades at 14.2x earnings, its market capitalization divided by net income of $8.0B net income, trailing 12 months to June 30, 2026. The market capitalization is $113.4B as of Sep 10, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
What is Altria Group's price-to-sales ratio?
Altria Group (MO) trades at 4.8x sales, its market capitalization divided by revenue of $23.5B revenue, trailing 12 months to June 30, 2026. The market capitalization is $113.4B as of Sep 10, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
Why is Altria Group's debt-to-equity ratio negative or not reported?
Altria Group (MO) has negative shareholder equity of -$3.5B as of fiscal year 2025, so no debt-to-equity ratio is reported: dividing debt by equity that is not positive produces a number that cannot be read as leverage. This can occur when accumulated losses exceed invested capital, or after large share buyback programs. Other solvency metrics like the current ratio or interest coverage may be more informative.
What is Altria Group's Altman Z-Score?
Altria Group (MO) has an Altman Z-Score of 4.67, placing it in the Safe Zone (low bankruptcy risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.
What is Altria Group's Piotroski F-Score?
Altria Group (MO) has a Piotroski F-Score of 6 out of 9, indicating neutral financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Altria Group's earnings high quality?
Altria Group (MO) has an earnings quality ratio of 1.34x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
Can Altria Group cover its interest payments?
Altria Group (MO) has an interest coverage ratio of 8.41x, meaning it can comfortably cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.
How financially healthy is Altria Group?
Altria Group (MO) scores 59 out of 100 on our Financial Health Score, indicating moderate standing within its operating companies peer group. The score is a 0-100 composite of six dimensions (Profitability, Growth, Leverage, Liquidity, Cash Flow, Returns), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.