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Philip Morris International Inc. is presenting at the 2026 Consumer Analyst Group of New York Conference, where its CEO and CFO will discuss strategy, smoke-free products and shareholder returns, including 2026–2028 growth targets.
PMI reaffirmed its 2026 full-year reported diluted EPS forecast of $7.87 to $8.02. The company expects adjusted diluted EPS of $8.38 to $8.53, a projected increase of 11.1% to 13.1% versus $7.54 in 2025. Excluding a favorable currency impact of $0.27 per share, this implies adjusted diluted EPS of $8.11 to $8.26, or 7.5% to 9.5% growth.
PMI highlights that smoke-free products accounted for 41.5% of its full-year 2025 net revenues and estimates over 43 million adult consumers were using its smoke-free products as of December 31, 2025. The release also outlines extensive risk factors that could cause actual results to differ from these projections.
Philip Morris International Group CEO Jacek Olczak reported two equity awards. On February 5, 2026, he acquired 137,579 shares of common stock at $0, earned after the board certified achievement of the third-year performance goal for performance stock units granted on February 9, 2023. These PSUs vest on February 18, 2026.
On February 6, 2026, he received 33,460 restricted share units under the 2022 Performance Incentive Plan at a reference price of $172.93, based on the 20-day average closing price before that date. These RSUs will vest on February 21, 2029. Following these transactions, he beneficially owned 718,465 common shares, including 179,780 restricted share units, all held directly.
Philip Morris International CEO PMI U.S. Stacey Kennedy reported two equity awards in company common stock. On February 5, 2026, she acquired 11,780 shares at $0, earned from performance stock units granted in 2023 after the board certified achievement of a three-year performance goal; these PSUs vest on February 18, 2026. On February 6, 2026, she received 4,430 restricted share units under the 2022 Performance Incentive Plan at a reference price of $172.93, which will vest on February 21, 2029. Following these transactions, she directly beneficially owned 63,975 shares of common stock, including 22,600 restricted share units.
Philip Morris International director and chairman Andre Calantzopoulos reported an equity award of 40,052 shares of common stock on February 5, 2026. These shares were earned after the board certified achievement of the year-three performance goal for Performance Stock Units granted on February 9, 2023, which vest on February 18, 2026. After this award, he directly holds 602,403 shares of common stock. An additional 398,412 shares are reported as indirectly owned by his spouse, and he disclaims beneficial ownership of those spouse-held shares.
Philip Morris International Inc. Group Controller Reginaldo Dobrowolski reported multiple stock awards. On February 5, 2026, he acquired 3,838 shares of common stock at $0, earned from performance stock units tied to a three-year performance goal.
On February 6, 2026, he received 1,960 restricted share units valued at an average reference price of $172.93 per share under the 2022 Performance Incentive Plan. On the same date, 740 shares were acquired indirectly through his spouse at the same reported price, bringing his holdings to 26,392 direct and 8,294 indirect shares.
Philip Morris International Group CFO Emmanuel Babeau reported two stock award transactions. On February 5, 2026, he acquired 50,046 shares of common stock at $0, earned after the board certified a three-year performance goal under Performance Stock Units granted in 2023. On February 6, 2026, he received 11,340 Restricted Share Units under the 2022 Performance Incentive Plan, using $172.93 as the reference average closing price over 20 trading days. After these awards, he directly owned 200,491 shares of common stock, which includes 60,360 Restricted Share Units.
Philip Morris International Group Chief Legal Officer Yann Guerin reported stock awards on Form 4. On February 5, 2026, he acquired 3,230 shares of common stock at $0, earned from Performance Stock Units tied to a three-year performance goal, with the PSUs vesting on February 18, 2026. On February 6, 2026, he received 5,050 Restricted Share Units under the 2022 Performance Incentive Plan at a reference price of $172.93, scheduled to vest on February 21, 2029. Following these transactions, he directly beneficially owned 38,588 shares, which include 18,590 Restricted Share Units.
Philip Morris International CEO Frederic De Wilde reported two stock-based compensation awards. On February 5, 2026, he acquired 22,439 shares of common stock at $0, earned after the board certified achievement of a three-year performance goal tied to Performance Stock Units granted on February 9, 2023; these PSUs vest on February 18, 2026. On February 6, 2026, he received 10,640 Restricted Share Units under the 2022 Performance Incentive Plan, based on an average share price of $172.93 over 20 trading days before that date; these RSUs vest on February 21, 2029. Following these transactions, he beneficially owned 154,513 shares of Philip Morris International common stock, including 47,010 RSUs, all reported as directly held.
Philip Morris International Inc. has filed an automatic shelf registration that allows it to offer debt securities and warrants to purchase debt securities from time to time. Specific terms, such as maturity, interest rates and structures, will be set in future prospectus supplements for each offering.
The company states that net proceeds from any debt securities or warrant exercises will be used for general corporate purposes, which can include repaying debt, funding working capital and capital expenditures, investing in subsidiaries, acquisitions, and repurchasing or redeeming securities. PMI highlights its strategy to deliver a smoke-free future, noting over $16 billion invested since 2008 in smoke-free products, which were available in 106 markets as of December 31, 2025.
Philip Morris International reported net revenues of $40.6 billion for 2025, up 7.3% from 2024, driven by higher pricing on combustible products and strong growth in smoke-free offerings. On an underlying basis excluding currency and M&A effects, net revenues rose 6.5%.
Total shipment volume reached 786.5 billion equivalent units, with smoke-free products at 179.1 billion, up 12.8%, while cigarette volume declined 1.5% to 607.4 billion. PMI’s total international market share (excluding China and the U.S.) increased to 29.2%, with heated tobacco unit share rising to 5.8%.
Diluted EPS climbed to $7.26 from $4.52 (a 60.6% increase), helped by operational growth, favorable equity investment marks, and the absence of large prior-year impairment charges. Smoke-free products, led by IQOS and ZYN, were sold in 106 markets, and the company is reorganizing into new reportable segments (International Smoke-Free, International Combustibles, and U.S.) from 2026 to reflect its smoke-free scale.