Filing Flows › Philip Morris International (PM) › Operating margin
Philip Morris International (PM) operating margin by quarter
Philip Morris International's operating margin was 42.5% in Q3 2026 (third quarter 2026), +2.1 pts from Q2 2026. Over the last 7 quarters it ranged from 32.6% (Q4 2025) to 42.5% (Q3 2026).
| Quarter | Operating margin | Q/Q | Y/Y |
|---|---|---|---|
| Q3 2026 | 42.5% | +2.1 pts | +3.2 pts |
| Q2 2026 | 40.5% | +2.1 pts | +3.9 pts |
| Q1 2026 | 38.4% | +5.8 pts | +0.3 pts |
| Q4 2025 | 32.6% | -6.8 pts | — |
| Q3 2025 | 39.3% | +2.7 pts | — |
| Q2 2025 | 36.6% | -1.5 pts | — |
| Q1 2025 | 38.1% | — | — |
Q3 2026 at a glance
Philip Morris International, Q3 2026: revenue $11.4B (+6% year over year), operating margin 42.5%, net earnings $3.3B, operating cash flow $5.4B. The chart follows the revenue to costs, profit and cash.
Questions
What is Philip Morris International's operating margin?
Philip Morris International's operating margin was 42.5% in Q3 2026 (third quarter 2026), +2.1 pts from Q2 2026.
How has Philip Morris International's operating margin changed?
Over the last 7 quarters it ranged from 32.6% (Q4 2025) to 42.5% (Q3 2026).
Q3 2026 results → · How Philip Morris International makes money →