What is Altria Group, Inc.'s earnings per share (EPS)?

Altria Group, Inc. (MO) reported diluted earnings per share of $4.12 for fiscal year 2025. This represents a -37.0% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

Altria Group (MO) Financials

MO NYSE

Trailing 12 months to June 30, 2026

Revenue $23.5B -0.6% YoY

Net Income $8.0B -9.3% YoY

EPS (Diluted) $4.75 -8.1% YoY

Free Cash Flow $9.1B +4.4% YoY

Market Cap $122.9B as of Oct 26, 2026

Price / Sales 5.2x on $23.5B revenue, trailing 12 months to June 30, 2026

Price / Earnings 15.4x on $8.0B net income, trailing 12 months to June 30, 2026

Price / Book n/m negative shareholder equity, so no book multiple, Q2 FY2026

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 Oct 26, 2026; every other figure is from the SEC filings on this page. Not financial advice.

Source SEC Filings (10-K/10-Q) Latest period Q2 FY2026, ended Jun 30, 2026 Reported Jul 30, 2026 Currency USD FYE December

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, Inc. (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).

Rhea AI MO FY2025 2026-10-24

Altria converts a shrinking sales base into abundant cash, but weaker operating profit and negative equity reveal a liability-heavy structure.

Revenue fell 3.1% while gross margin expanded 2.7 percentage points, pointing to cost reduction at the product-cost layer rather than volume-led growth. Yet operating income fell 11.9% as free cash flow rose 5.4%, separating weaker operating earnings from cash generation.

Operating cash flow was $9.290B against net income of $6.947B, indicating earnings converted into more cash than accounting profit alone suggests. Capital spending was $216M, just 0.9% of revenue, so maintaining the asset base consumes relatively little cash.

Liabilities were $38.469B against assets of $35.017B, leaving equity negative and making the balance sheet liability-financed rather than equity-funded. A 0.6x current ratio means current assets remain below current liabilities, so liquidity is tighter than the cash-flow profile alone suggests.

Financial Health Signals

Financial Health Score 59/100

Scored against operating companies for FY2025. Each of the six dimensions is a percentile rank within that peer group, and the overall is the average of the dimensions that can be computed. 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, Inc.'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.

Profitability

Altria Group, Inc. 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 97/100, reflecting efficient cost management and pricing power. This is down from 46.8% the prior year.

Growth

Altria Group, Inc.'s revenue declined 3.1% year-over-year, from $24.0B to $23.3B. This contraction results in a growth score of 22/100.

Leverage

Liquidity

Altria Group, Inc.'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.

Cash Flow

Altria Group, Inc. converts 39.0% of revenue into free cash flow ($9.1B). This strong cash generation earns a score of 97/100.

Returns

Altman Z-Score Safe

4.82

Altria Group, Inc. scores 4.82, well above the 2.99 safe threshold. The largest contribution to the score comes from a market capitalization of $122.9B against total liabilities of $38.5B. 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.

Piotroski F-Score Neutral

6/9

Altria Group, Inc. passes 6 of 9 financial strength tests. 3 of 4 profitability signals pass, 2 of 3 leverage/liquidity signals pass, 1 of 2 operating efficiency signals passes.

Earnings Quality Cash-Backed

1.34x

For every $1 of reported earnings, Altria Group, Inc. 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.

Interest Coverage Safe

8.41x

Altria Group, Inc. 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

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Earnings & Revenue

Revenue

$6.1B

YoY+0.1%

QoQ+12.6%

5Y CAGR-2.5%

10Y CAGR-0.6%

Altria Group, Inc. 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%.

EBITDA

$3.2B

YoY-3.3%

QoQ+6.0%

5Y CAGR-0.4%

Altria Group, Inc.'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%.

Net Income

$2.3B

YoY-3.4%

QoQ+5.3%

5Y CAGR+1.3%

10Y CAGR+3.3%

Altria Group, Inc. 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%.

EPS (Diluted)

$1.37

YoY-2.8%

QoQ+5.4%

5Y CAGR+3.4%

10Y CAGR+5.0%

Altria Group, Inc. 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

Free Cash Flow

$662.0M

YoY+282.7%

QoQ-70.3%

5Y CAGRn/m

10Y CAGRn/m

Altria Group, Inc. 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%.

Cash & Debt

$2.4B

YoY+83.9%

QoQ-33.0%

5Y CAGR+4.7%

10Y CAGR+11.2%

Altria Group, Inc. held $2.4B in cash against $22.9B in long-term debt as of Q2 2026.

Dividends Per Share

$1.06

YoY+3.9%

QoQ0.0%

5Y CAGR+4.3%

10Y CAGR+6.5%

Altria Group, Inc. 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.

Shares Outstanding

1.67B

YoY-0.6%

QoQ0.0%

5Y CAGR-2.0%

10Y CAGR-1.6%

Altria Group, Inc. had 1.67B shares outstanding in Q2 2026. This represents a decrease of 0.6% from the same quarter a year earlier. It is unchanged from the prior quarter.

Margins & Returns

Gross Margin

62.5%

YoY-0.6pp

QoQ-2.1pp

5Y change+8.7pp

10Y change+17.2pp

Altria Group, Inc.'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.

Operating Margin

51.3%

YoY-1.6pp

QoQ-3.1pp

5Y change+5.4pp

Altria Group, Inc.'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.

Net Margin

37.6%

YoY-1.4pp

QoQ-2.6pp

5Y change+6.6pp

10Y change+12.3pp

Altria Group, Inc.'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.

Return on Equity

Not reported for Q2 2026.

Capital Allocation

Share Buybacks

$55.0M

YoY-79.9%

QoQ-80.4%

5Y CAGR-29.9%

10Y CAGR-10.8%

Altria Group, Inc. 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%.

Capital Expenditures

$57.0M

YoY+78.1%

QoQ-38.7%

5Y CAGR+16.1%

10Y CAGR+1.1%

Altria Group, Inc. 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%.

R&D Spending

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.

MO quarterly income statement

Metric	TTM	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K	FY1110-K
Revenue	$23.5B	$23.3B-3.1%	$24.0B-1.9%	$24.5B-2.4%	$25.1B-3.5%	$26.0B-0.5%	$26.2B+4.2%	$25.1B-1.0%	$25.4B-0.8%	$25.6B-0.7%	$25.7B+1.2%	$25.4B+3.7%	$24.5B+0.2%	$24.5B-0.6%	$24.6B+3.4%	$23.8B
Cost of Revenue	$5.7B	$5.6B-7.9%	$6.1B-2.3%	$6.2B-3.5%	$6.4B-9.5%	$7.1B-8.9%	$7.8B+10.3%	$7.1B-3.9%	$7.4B-2.1%	$7.5B-3.0%	$7.8B+0.3%	$7.7B-0.6%	$7.8B+8.0%	$7.2B-9.2%	$7.9B+3.3%	$7.7B
Gross Profit	$14.8B	$14.5B+1.2%	$14.4B+0.6%	$14.3B+0.3%	$14.2B+1.8%	$14.0B+7.4%	$13.0B+2.5%	$12.7B+3.7%	$12.3B+2.4%	$12.0B+3.4%	$11.6B+4.1%	$11.1B+9.4%	$10.2B-2.8%	$10.5B+9.3%	$9.6B+7.0%	$8.9B
R&D Expenses	N/A	$195.0M-6.3%	$208.0M-5.5%	$220.0M+35.8%	$162.0M+11.7%	$145.0M+10.7%	$131.0M-22.0%	$168.0M-33.3%	$252.0M+4.6%	$241.0M+18.7%	$203.0M+9.1%	$186.0M+11.4%	$167.0M+9.2%	$153.0M+12.5%	$136.0M+6.3%	$128.0M
Operating Income	$11.0B	$9.9B-11.9%	$11.2B-2.7%	$11.5B-3.1%	$11.9B+3.1%	$11.6B+6.3%	$10.9B+5.3%	$10.3B+13.3%	$9.1B-5.0%	$9.6B+9.5%	$8.8B+4.8%	$8.4B+9.7%	$7.6B-5.7%	$8.1B+11.5%	$7.3B+19.5%	$6.1B
EBITDA	N/A	$10.2B-11.8%	$11.5B-2.5%	$11.8B-2.7%	$12.1B+2.9%	$11.8B+6.1%	$11.1B+5.5%	$10.6B+13.0%	$9.3B-4.7%	$9.8B+9.3%	$9.0B+4.4%	$8.6B+9.7%	$7.8B-5.6%	$8.3B+10.9%	$7.5B+18.3%	$6.3B
Interest Expense	$1.2B	$1.2B+4.7%	$1.1B-2.2%	$1.1B+1.9%	$1.1B-5.1%	$1.2B-2.9%	$1.2B-7.5%	$1.3B+89.7%	$697.0M-5.3%	$736.0M-2.4%	$754.0M-6.7%	$808.0M-5.7%	$857.0M-18.6%	$1.1B-6.6%	$1.1B-7.5%	$1.2B
Income Tax	$2.4B	$2.4B+2.0%	$2.4B-14.4%	$2.8B+72.2%	$1.6B+20.5%	$1.3B-44.6%	$2.4B+18.0%	$2.1B-13.1%	$2.4Bn/m	-$399.0M-105.2%	$7.6B+168.4%	$2.8B+4.8%	$2.7B+12.3%	$2.4B+4.9%	$2.3B+4.8%	$2.2B
Net Income	$8.0B	$6.9B-38.3%	$11.3B+38.5%	$8.1B+41.0%	$5.8B+132.9%	$2.5B-44.6%	$4.5Bn/m	-$1.3B-118.6%	$7.0B-31.9%	$10.2B-28.2%	$14.2B+171.7%	$5.2B+3.4%	$5.1B+11.8%	$4.5B+8.5%	$4.2B+23.3%	$3.4B
EPS (Basic)	N/A	$4.12-37.0%	$6.54+43.1%	$4.57+43.3%	$3.19+138.1%	$1.34-44.2%	$2.40n/m	-$0.70-119.0%	$3.69-30.5%	$5.31-27.1%	$7.28+172.7%	$2.67+4.3%	$2.56+13.3%	$2.26+9.7%	$2.06+25.6%	$1.64
EPS (Diluted)	$4.75	$4.12-37.0%	$6.54+43.1%	$4.57+43.3%	$3.19+138.1%	$1.34-44.2%	$2.40n/m	-$0.70-119.0%	$3.68-30.7%	$5.31-27.1%	$7.28+172.7%	$2.67+4.3%	$2.56+13.3%	$2.26+9.7%	$2.06+25.6%	$1.64
Diluted Shares (Avg)	N/A	1.68B-2.0%	1.72B-3.3%	1.78B-1.5%	1.80B-2.2%	1.84B-0.8%	1.86B-0.5%	1.87B-1.0%	1.89B-1.7%	1.92B-1.6%	1.95B	N/A	N/A	N/A	2.02B-1.9%	2.06B

Metric	Q2'2610-Q	Q1'2610-Q	Q4'2510-K	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	$267.0M-1.8%
Income Tax	$631.0M-14.7%	$676.0M+11.6%	$396.0Mn/m	$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

MO quarterly balance sheet

Metric	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K	FY1110-K
Total Assets	$35.0B-0.5%	$35.2B-8.8%	$38.6B+4.4%	$37.0B-6.5%	$39.5B-16.6%	$47.4B-3.8%	$49.3B-11.2%	$55.5B+28.4%	$43.2B-5.9%	$45.9B+46.0%	$31.5B-8.7%	$34.5B-1.1%	$34.9B-1.3%	$35.3B-3.9%	$36.8B
Current Assets	$5.9B+31.4%	$4.5B-19.2%	$5.6B-22.6%	$7.2B+18.7%	$6.1B-14.5%	$7.1B+47.5%	$4.8B+12.2%	$4.3B-1.0%	$4.3B-40.2%	$7.3B+47.8%	$4.9B-28.6%	$6.9B+4.4%	$6.6B+4.4%	$6.3B-8.7%	$6.9B
Cash & Equivalents	$4.5B+43.1%	$3.1B-15.2%	$3.7B-8.5%	$4.0B-11.3%	$4.5B-8.1%	$4.9B+133.6%	$2.1B+58.8%	$1.3B+6.4%	$1.3B-72.6%	$4.6B+92.9%	$2.4B-28.7%	$3.3B+4.6%	$3.2B+9.5%	$2.9B-11.3%	$3.3B
Short-Term Investments	$0n/m	$0n/m	$0n/m	$0n/m	$0n/m	$0n/m	$0	N/A	N/A	$0n/m	$0n/m	$0n/m	$0n/m	$0n/m	$0
Inventory	$1.1B-0.9%	$1.1B-11.1%	$1.2B+3.0%	$1.2B-1.2%	$1.2B-39.3%	$2.0B-14.3%	$2.3B-1.6%	$2.3B+4.8%	$2.2B+8.5%	$2.1B+1.0%	$2.0B-0.4%	$2.0B+8.6%	$1.9B+7.6%	$1.7B-1.9%	$1.8B
Long-Term Investments	$0n/m	$0n/m	$0n/m	$0n/m	$0n/m	$0n/m	$0	N/A	N/A	$0n/m	$0n/m	$0n/m	$0n/m	$0n/m	$0
Goodwill	$5.8B-16.7%	$6.9B+2.3%	$6.8B+31.2%	$5.2B0.0%	$5.2B0.0%	$5.2B0.0%	$5.2B-0.4%	$5.2B-2.1%	$5.3B+0.4%	$5.3B0.0%	$5.3B0.0%	$5.3B+2.1%	$5.2B0.0%	$5.2B0.0%	$5.2B
Total Liabilities	$38.5B+3.0%	$37.4B-11.2%	$42.1B+2.9%	$40.9B-0.6%	$41.1B-7.5%	$44.4B+3.6%	$42.9B+5.6%	$40.6B+46.2%	$27.8B-16.1%	$33.1B+16.0%	$28.5B-9.2%	$31.4B+2.4%	$30.7B-4.4%	$32.1B-2.8%	$33.0B
Current Liabilities	$9.2B+4.2%	$8.8B-22.4%	$11.3B+31.4%	$8.6B+0.4%	$8.6B-5.3%	$9.1B+10.9%	$8.2B-61.4%	$21.2B+212.0%	$6.8B-7.9%	$7.4B+4.3%	$7.1B-7.9%	$7.7B+8.7%	$7.1B-14.5%	$8.3B+11.1%	$7.4B
Non-Current Liabilities	$29.3B+2.6%	$28.6B-7.0%	$30.7B-4.7%	$32.3B-0.9%	$32.5B-8.0%	$35.4B+1.9%	$34.7B+78.7%	$19.4B-7.4%	$21.0B-18.5%	$25.7B+19.9%	$21.5B-9.6%	$23.8B+0.5%	$23.6B-0.9%	$23.9B-6.8%	$25.6B
Long-Term Debt	$24.1B+3.2%	$23.4B-6.8%	$25.1B0.0%	$25.1B-6.7%	$26.9B-3.7%	$28.0B+3.4%	$27.0B+127.3%	$11.9B-8.7%	$13.0B-6.1%	$13.9B+8.1%	$12.8B-6.2%	$13.7B-2.1%	$14.0B+12.7%	$12.4B-5.1%	$13.1B
Total Equity	-$3.5Bn/m	-$2.2Bn/m	-$3.5Bn/m	-$4.0Bn/m	-$1.6B-156.6%	$2.8B-54.4%	$6.2B-57.9%	$14.8B-3.8%	$15.4B+20.4%	$12.8B+343.4%	$2.9B-4.4%	$3.0B-26.8%	$4.1B+30.0%	$3.2B-13.9%	$3.7B
Retained Earnings	$35.5B-0.2%	$35.5B+14.2%	$31.1B+4.4%	$29.8B-2.8%	$30.7B-11.6%	$34.7B-5.1%	$36.5B-16.9%	$44.0B+4.0%	$42.3B+14.5%	$36.9B+35.4%	$27.3B+3.7%	$26.3B+4.4%	$25.2B+3.5%	$24.3B+3.1%	$23.6B

Metric	Q2'2610-Q	Q1'2610-Q	Q4'2510-K	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	$0n/m	$0n/m	$0n/m	$0n/m	$0n/m	$0n/m	$0n/m	$0n/m
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	$0n/m	$0n/m	$0n/m	$0n/m	$0n/m	$0n/m	$0n/m	$0n/m
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	-$2.7Bn/m	-$3.2Bn/m	-$3.5Bn/m	-$2.6Bn/m	-$3.3Bn/m	-$3.5Bn/m	-$2.2Bn/m	-$3.5Bn/m
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

MO quarterly cash flow statement

Metric	TTM	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K	FY1110-K
Operating Cash Flow	$9.4B	$9.3B+6.1%	$8.8B-5.7%	$9.3B+12.5%	$8.3B-1.8%	$8.4B+0.2%	$8.4B+7.0%	$7.8B-6.6%	$8.4B+71.2%	$4.9B+28.1%	$3.8B-34.5%	$5.8B+25.3%	$4.7B+6.6%	$4.4B+12.1%	$3.9B+8.0%	$3.6B
Depreciation & Amortization	N/A	$266.0M-7.0%	$286.0M+5.1%	$272.0M+20.4%	$226.0M-7.4%	$244.0M-5.1%	$257.0M+13.7%	$226.0M-0.4%	$227.0M+8.6%	$209.0M+2.5%	$204.0M-9.3%	$225.0M+8.2%	$208.0M-1.9%	$212.0M-5.8%	$225.0M-11.1%	$253.0M
Capital Expenditures	$296.0M	$216.0M+52.1%	$142.0M-27.6%	$196.0M-4.4%	$205.0M+21.3%	$169.0M-26.8%	$231.0M-6.1%	$246.0M+3.4%	$238.0M+19.6%	$199.0M+5.3%	$189.0M-17.5%	$229.0M+40.5%	$163.0M+24.4%	$131.0M+5.6%	$124.0M+18.1%	$105.0M
Free Cash Flow	$9.1B	$9.1B+5.4%	$8.6B-5.3%	$9.1B+12.9%	$8.1B-2.2%	$8.2B+1.0%	$8.2B+7.4%	$7.6B-6.9%	$8.2B+73.4%	$4.7B+29.3%	$3.6B-35.2%	$5.6B+24.8%	$4.5B+6.0%	$4.2B+12.3%	$3.8B+7.7%	$3.5B
Investing Cash Flow	-$428.0M	-$341.0M-115.7%	$2.2Bn/m	-$1.3B-264.1%	$782.0M-35.5%	$1.2Bn/m	-$143.0Mn/m	-$2.4Bn/m	-$13.0Bn/m	-$467.0M-112.6%	$3.7Bn/m	-$15.0M-108.5%	$177.0M-70.6%	$602.0M-34.6%	$920.0M+137.7%	$387.0M
Financing Cash Flow	-$7.9B	-$7.6Bn/m	-$11.5Bn/m	-$8.4Bn/m	-$9.5Bn/m	-$10.0Bn/m	-$5.4Bn/m	-$4.7B-199.9%	$4.7Bn/m	-$7.8Bn/m	-$5.3Bn/m	-$6.8Bn/m	-$4.7Bn/m	-$4.7Bn/m	-$5.2Bn/m	-$3.0B
Dividends Paid	$7.1B	$7.0B+1.7%	$6.8B+1.0%	$6.8B+2.7%	$6.6B+2.4%	$6.4B+2.5%	$6.3B+3.6%	$6.1B+12.1%	$5.4B+12.6%	$4.8B+6.5%	$4.5B+8.0%	$4.2B+7.4%	$3.9B+7.8%	$3.6B+6.2%	$3.4B+5.5%	$3.2B
Share Buybacks	$735.0M	$1.0B-70.6%	$3.4B+240.0%	$1.0B-45.2%	$1.8B+9.0%	$1.7Bn/m	$0-100.0%	$845.0M-49.5%	$1.7B-42.6%	$2.9B+183.2%	$1.0B+85.9%	$554.0M-41.0%	$939.0M+48.1%	$634.0M-41.4%	$1.1B-18.5%	$1.3B

Metric	Q2'2610-Q	Q1'2610-Q	Q4'2510-K	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%	$205.0Mn/m	$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%	$173.0Mn/m	$2.7B-5.6%	$3.3B+3.7%	$2.6B-11.4%
Investing Cash Flow	-$57.0Mn/m	-$109.0Mn/m	-$202.0Mn/m	-$60.0Mn/m	-$36.0Mn/m	-$43.0M-101.9%	-$63.0Mn/m	-$41.0M-102.5%
Financing Cash Flow	-$1.8Bn/m	-$3.2Bn/m	-$2.1Bn/m	-$849.0Mn/m	-$3.6Bn/m	-$1.1Bn/m	-$2.0Bn/m	-$2.5Bn/m
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.

MO quarterly financial ratios

Metric	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K	FY1110-K
Gross Margin	62.5%+2.7pp	59.8%+1.5pp	58.3%+1.6pp	56.8%+3.0pp	53.8%+4.0pp	49.8%-0.8pp	50.6%+2.3pp	48.3%+1.5pp	46.8%+1.8pp	45.0%+1.3pp	43.7%+2.3pp	41.4%-1.3pp	42.7%+3.9pp	38.9%+1.3pp	37.6%
Operating Margin	42.5%-4.3pp	46.8%-0.4pp	47.2%-0.3pp	47.5%+3.0pp	44.4%+2.9pp	41.6%+0.5pp	41.1%+5.2pp	35.9%-1.6pp	37.5%+3.5pp	34.0%+1.2pp	32.9%+1.8pp	31.1%-2.0pp	33.0%+3.6pp	29.5%+4.0pp	25.5%
Net Margin	29.8%-17.1pp	46.9%+13.7pp	33.2%+10.2pp	23.0%+13.5pp	9.5%-7.6pp	17.1%+22.2pp	-5.1%-32.6pp	27.5%-12.5pp	40.0%-15.3pp	55.3%+34.7pp	20.6%-0.1pp	20.7%+2.1pp	18.5%+1.6pp	17.0%+2.7pp	14.2%
Return on Equity	N/A	N/A	N/A	N/A	N/A	157.3%+178.1pp	-20.8%-67.9pp	47.1%-19.4pp	66.5%-45.0pp	111.5%-70.5pp	182.0%+13.8pp	168.2%+58.1pp	110.1%-21.8pp	131.9%+39.8pp	92.1%
Return on Assets	19.8%-12.2pp	32.0%+10.9pp	21.1%+5.5pp	15.6%+9.3pp	6.3%-3.2pp	9.4%+12.0pp	-2.6%-15.2pp	12.6%-11.1pp	23.7%-7.3pp	31.0%+14.3pp	16.7%+1.9pp	14.7%+1.7pp	13.0%+1.2pp	11.8%+2.6pp	9.2%
Current Ratio	0.65+0.1x	0.510.0x	0.49-0.3x	0.84+0.1x	0.71-0.1x	0.79+0.2x	0.59+0.4x	0.20-0.4x	0.64-0.3x	0.98+0.3x	0.69-0.2x	0.900.0x	0.93+0.2x	0.76-0.2x	0.93
Debt-to-Equity	N/A	N/A	N/A	N/A	N/A	9.85+5.5x	4.35+3.5x	0.800.0x	0.85-0.2x	1.09-3.4x	4.46-0.1x	4.54+1.1x	3.40-0.5x	3.92+0.4x	3.56
Liabilities-to-Equity	N/A	N/A	N/A	N/A	N/A	15.66+8.8x	6.90+4.1x	2.75+0.9x	1.81-0.8x	2.59-7.3x	9.91-0.5x	10.43+3.0x	7.45-2.7x	10.14+1.2x	8.98
Asset Turnover	0.660.0x	0.680.0x	0.630.0x	0.680.0x	0.66+0.1x	0.550.0x	0.51+0.1x	0.46-0.1x	0.590.0x	0.56-0.2x	0.81+0.1x	0.710.0x	0.700.0x	0.700.0x	0.65
FCF Margin	39.0%+3.1pp	35.9%-1.3pp	37.1%+5.1pp	32.1%+0.4pp	31.7%+0.5pp	31.2%+1.0pp	30.2%-1.9pp	32.1%+13.8pp	18.4%+4.2pp	14.1%-7.9pp	22.1%+3.7pp	18.4%+1.0pp	17.3%+2.0pp	15.3%+0.6pp	14.7%

Metric	Q2'2610-Q	Q1'2610-Q	Q4'2510-K	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, Liabilities-to-Equity.

Note: Shareholder equity is negative (-$3.5B), which causes the debt-to-equity, liabilities-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, Inc. MO	FY2025	$23.3B	$6.9B	29.8%	$122.9B	59/100
British American Tobacco p.l.c. BTI	FY2025	$34.4B	$10.4B	30.3%	$129.2B	41/100
Philip Morris International Inc. PM	FY2025	$40.6B	$11.3B	27.9%	$314.6B	63/100
RLX Technology Inc. RLX	FY2025	$566.1M	$131.8M	23.3%	$2.0B	68/100
Turning Point Brands, Inc. TPB	FY2025	$463.1M	$58.2M	12.6%	$1.3B	79/100
Anheuser-Busch InBev SA/NV BUD	FY2025	$59.3B	$6.8B	11.5%	$161.4B	51/100

Where Altria Group, Inc. Ranks

Frequently Asked Questions

What is Altria Group, Inc.'s annual revenue?

Altria Group, Inc. (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, Inc.'s revenue growing?

Altria Group, Inc. (MO) revenue declined by 3.1% year-over-year, from $24.0B to $23.3B in fiscal year 2025.

Is Altria Group, Inc. profitable?

Yes, Altria Group, Inc. (MO) reported a net income of $8.0B over the trailing 12 months to June 30, 2026. In fiscal year 2025 it reported a net income of $6.9B, with a net profit margin of 29.8%.

What is Altria Group, Inc.'s EBITDA?

Altria Group, Inc. (MO) had EBITDA of $10.2B in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.

How much debt does Altria Group, Inc. have?

As of fiscal year 2025, Altria Group, Inc. (MO) had $4.5B in cash and equivalents against $24.1B in long-term debt.

What is Altria Group, Inc.'s gross margin?

Altria Group, Inc. (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, Inc.'s operating margin?

Altria Group, Inc. (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, Inc.'s net profit margin?

Altria Group, Inc. (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, Inc. pay dividends?

Yes, Altria Group, Inc. (MO) paid $4.16 per share in dividends during fiscal year 2025.

What is Altria Group, Inc.'s free cash flow?

Altria Group, Inc. (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, Inc.'s operating cash flow?

Altria Group, Inc. (MO) generated $9.3B in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are Altria Group, Inc.'s total assets?

Altria Group, Inc. (MO) had $35.0B in total assets as of fiscal year 2025, including both current and long-term assets.

What are Altria Group, Inc.'s capital expenditures?

Altria Group, Inc. (MO) invested $216.0M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.

How much does Altria Group, Inc. spend on research and development?

Altria Group, Inc. (MO) invested $195.0M in research and development during fiscal year 2025.

Does Altria Group, Inc. buy back shares?

Yes, Altria Group, Inc. (MO) spent $1.0B on share buybacks during fiscal year 2025, returning capital to shareholders by reducing shares outstanding.

How many shares does Altria Group, Inc. have outstanding?

Altria Group, Inc. (MO) had 1.67B shares outstanding as of fiscal year 2025.

What is Altria Group, Inc.'s current ratio?

Altria Group, Inc. (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, Inc.'s return on assets (ROA)?

Altria Group, Inc. (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, Inc.'s P/E ratio?

Altria Group, Inc. (MO) trades at 15.4x earnings, its market capitalization divided by $8.0B net income, trailing 12 months to June 30, 2026. The market capitalization is $122.9B as of Oct 26, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.

What is Altria Group, Inc.'s price-to-sales ratio?

Altria Group, Inc. (MO) trades at 5.2x sales, its market capitalization divided by $23.5B revenue, trailing 12 months to June 30, 2026. The market capitalization is $122.9B as of Oct 26, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.

Why is Altria Group, Inc.'s debt-to-equity ratio negative or not reported?

Altria Group, Inc. (MO) has negative shareholder equity of -$3.5B as of fiscal year 2025, so no debt-to-equity or liabilities-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, Inc.'s Altman Z-Score?

Altria Group, Inc. (MO) has an Altman Z-Score of 4.82, 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, Inc.'s Piotroski F-Score?

Altria Group, Inc. (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, Inc.'s earnings high quality?

Altria Group, Inc. (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, Inc. cover its interest payments?

Altria Group, Inc. (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, Inc.?

Altria Group, Inc. (MO) scores 59 out of 100 on our Financial Health Score, indicating moderate standing within its operating companies peer group. The score is the average 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.