Stock Analysis on Net

Altria Group Inc. (NYSE:MO)

Analysis of Profitability Ratios 
Quarterly Data

Microsoft Excel

Profitability Ratios (Summary)

Altria Group Inc., profitability ratios (quarterly data)

Microsoft Excel
Sep 30, 2024 Jun 30, 2024 Mar 31, 2024 Dec 31, 2023 Sep 30, 2023 Jun 30, 2023 Mar 31, 2023 Dec 31, 2022 Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019
Return on Sales
Gross profit margin 59.38% 58.87% 58.48% 58.34% 58.06% 57.43% 56.98% 56.77% 55.67% 55.06% 54.48% 53.79% 53.04% 52.53% 51.96% 49.80% 50.13% 49.79% 49.43% 50.62%
Operating profit margin 46.44% 46.14% 47.10% 47.16% 46.99% 46.58% 47.31% 47.49% 46.89% 45.82% 45.44% 44.44% 43.77% 44.01% 43.46% 41.57% 41.46% 41.04% 40.34% 41.12%
Net profit margin 42.82% 42.25% 34.81% 33.21% 35.58% 27.39% 22.44% 22.97% 18.61% 6.88% 11.64% 9.51% 10.65% 17.22% 16.80% 17.08% 2.84% -3.57% -3.33% -5.15%
Return on Investment
Return on equity (ROE) 139.55% 148.95% 157.34% 23.38% -16.07% -13.16% -20.78%
Return on assets (ROA) 30.10% 29.54% 23.23% 21.08% 24.02% 18.35% 15.18% 15.60% 13.84% 4.77% 7.48% 6.26% 7.01% 10.24% 8.90% 9.42% 1.57% -1.82% -1.64% -2.62%

Based on: 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31).

Profitability ratio Description The company
Gross profit margin Gross profit margin indicates the percentage of revenue available to cover operating and other expenditures. Altria Group Inc. gross profit margin ratio improved from Q1 2024 to Q2 2024 and from Q2 2024 to Q3 2024.
Operating profit margin A profitability ratio calculated as operating income divided by revenue. Altria Group Inc. operating profit margin ratio deteriorated from Q1 2024 to Q2 2024 but then slightly improved from Q2 2024 to Q3 2024.
Net profit margin An indicator of profitability, calculated as net income divided by revenue. Altria Group Inc. net profit margin ratio improved from Q1 2024 to Q2 2024 and from Q2 2024 to Q3 2024.

Profitability ratio Description The company
ROA A profitability ratio calculated as net income divided by total assets. Altria Group Inc. ROA improved from Q1 2024 to Q2 2024 and from Q2 2024 to Q3 2024.

Gross Profit Margin

Altria Group Inc., gross profit margin calculation (quarterly data)

Microsoft Excel
Sep 30, 2024 Jun 30, 2024 Mar 31, 2024 Dec 31, 2023 Sep 30, 2023 Jun 30, 2023 Mar 31, 2023 Dec 31, 2022 Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019
Selected Financial Data (US$ in millions)
Gross profit 3,808 3,675 3,280 3,499 3,699 3,757 3,329 3,510 3,697 3,666 3,373 3,315 3,673 3,732 3,272 3,146 3,717 3,287 2,873 3,084 3,497 3,319 2,811
Net revenues 6,259 6,209 5,576 5,975 6,281 6,508 5,719 6,111 6,550 6,543 5,892 6,255 6,786 6,936 6,036 6,304 7,123 6,367 6,359 6,007 6,856 6,619 5,628
Profitability Ratio
Gross profit margin1 59.38% 58.87% 58.48% 58.34% 58.06% 57.43% 56.98% 56.77% 55.67% 55.06% 54.48% 53.79% 53.04% 52.53% 51.96% 49.80% 50.13% 49.79% 49.43% 50.62%
Benchmarks
Gross Profit Margin, Competitors2
Coca-Cola Co. 60.43% 60.53% 59.98% 59.52% 59.14% 58.52% 58.09% 58.14% 58.49% 58.89% 60.27% 60.27% 60.72% 60.61% 59.42% 59.31% 59.90% 60.04% 60.66% 60.77%
PepsiCo Inc. 54.68% 54.44% 54.13% 54.21% 53.93% 53.58% 53.28% 53.03% 53.03% 53.13% 53.20% 53.35% 53.87% 54.23% 54.65% 54.82% 55.19% 55.28% 55.15% 55.13%
Philip Morris International Inc. 64.08% 63.88% 63.70% 63.35% 63.12% 62.58% 63.07% 64.10% 65.32% 66.49% 67.17% 68.06% 68.14% 68.02% 67.59% 66.65% 66.25% 65.83% 65.41% 64.73%

Based on: 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31).

1 Q3 2024 Calculation
Gross profit margin = 100 × (Gross profitQ3 2024 + Gross profitQ2 2024 + Gross profitQ1 2024 + Gross profitQ4 2023) ÷ (Net revenuesQ3 2024 + Net revenuesQ2 2024 + Net revenuesQ1 2024 + Net revenuesQ4 2023)
= 100 × (3,808 + 3,675 + 3,280 + 3,499) ÷ (6,259 + 6,209 + 5,576 + 5,975) = 59.38%

2 Click competitor name to see calculations.

Profitability ratio Description The company
Gross profit margin Gross profit margin indicates the percentage of revenue available to cover operating and other expenditures. Altria Group Inc. gross profit margin ratio improved from Q1 2024 to Q2 2024 and from Q2 2024 to Q3 2024.

Operating Profit Margin

Altria Group Inc., operating profit margin calculation (quarterly data)

Microsoft Excel
Sep 30, 2024 Jun 30, 2024 Mar 31, 2024 Dec 31, 2023 Sep 30, 2023 Jun 30, 2023 Mar 31, 2023 Dec 31, 2022 Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019
Selected Financial Data (US$ in millions)
Operating income 3,152 2,533 2,674 2,796 3,089 2,905 2,757 2,818 3,112 3,105 2,884 2,733 2,951 3,186 2,690 2,581 3,160 2,796 2,336 2,427 2,944 2,717 2,238
Net revenues 6,259 6,209 5,576 5,975 6,281 6,508 5,719 6,111 6,550 6,543 5,892 6,255 6,786 6,936 6,036 6,304 7,123 6,367 6,359 6,007 6,856 6,619 5,628
Profitability Ratio
Operating profit margin1 46.44% 46.14% 47.10% 47.16% 46.99% 46.58% 47.31% 47.49% 46.89% 45.82% 45.44% 44.44% 43.77% 44.01% 43.46% 41.57% 41.46% 41.04% 40.34% 41.12%
Benchmarks
Operating Profit Margin, Competitors2
Coca-Cola Co. 20.61% 22.20% 21.89% 24.72% 24.68% 24.76% 24.99% 25.37% 24.81% 24.96% 27.39% 26.67% 29.03% 28.49% 27.93% 27.25% 26.36% 26.29% 26.98% 27.06%
PepsiCo Inc. 13.40% 13.54% 13.14% 13.10% 12.14% 11.60% 10.08% 13.33% 15.85% 15.96% 17.46% 14.04% 14.90% 15.12% 14.68% 14.32% 14.52% 14.48% 14.98% 15.32%
Philip Morris International Inc. 35.01% 34.97% 33.02% 32.85% 33.81% 33.73% 36.46% 38.56% 38.69% 40.11% 40.64% 41.32% 42.07% 42.31% 42.31% 40.66% 38.91% 37.09% 37.31% 35.33%

Based on: 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31).

1 Q3 2024 Calculation
Operating profit margin = 100 × (Operating incomeQ3 2024 + Operating incomeQ2 2024 + Operating incomeQ1 2024 + Operating incomeQ4 2023) ÷ (Net revenuesQ3 2024 + Net revenuesQ2 2024 + Net revenuesQ1 2024 + Net revenuesQ4 2023)
= 100 × (3,152 + 2,533 + 2,674 + 2,796) ÷ (6,259 + 6,209 + 5,576 + 5,975) = 46.44%

2 Click competitor name to see calculations.

Profitability ratio Description The company
Operating profit margin A profitability ratio calculated as operating income divided by revenue. Altria Group Inc. operating profit margin ratio deteriorated from Q1 2024 to Q2 2024 but then slightly improved from Q2 2024 to Q3 2024.

Net Profit Margin

Altria Group Inc., net profit margin calculation (quarterly data)

Microsoft Excel
Sep 30, 2024 Jun 30, 2024 Mar 31, 2024 Dec 31, 2023 Sep 30, 2023 Jun 30, 2023 Mar 31, 2023 Dec 31, 2022 Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019
Selected Financial Data (US$ in millions)
Net earnings (losses) attributable to Altria 2,293 3,803 2,129 2,060 2,166 2,117 1,787 2,690 224 891 1,959 1,624 (2,722) 2,149 1,424 1,924 (952) 1,943 1,552 (1,809) (2,600) 1,996 1,120
Net revenues 6,259 6,209 5,576 5,975 6,281 6,508 5,719 6,111 6,550 6,543 5,892 6,255 6,786 6,936 6,036 6,304 7,123 6,367 6,359 6,007 6,856 6,619 5,628
Profitability Ratio
Net profit margin1 42.82% 42.25% 34.81% 33.21% 35.58% 27.39% 22.44% 22.97% 18.61% 6.88% 11.64% 9.51% 10.65% 17.22% 16.80% 17.08% 2.84% -3.57% -3.33% -5.15%
Benchmarks
Net Profit Margin, Competitors2
Coca-Cola Co. 22.45% 22.92% 23.41% 23.42% 23.92% 23.81% 22.69% 22.19% 23.44% 23.16% 25.69% 25.28% 23.31% 22.19% 21.59% 23.47% 24.90% 26.77% 26.95% 23.94%
PepsiCo Inc. 10.18% 10.34% 10.00% 9.92% 9.05% 8.76% 7.48% 10.31% 11.61% 11.28% 12.57% 9.59% 10.62% 11.01% 10.51% 10.12% 10.27% 10.13% 10.62% 10.89%
Philip Morris International Inc. 26.42% 24.15% 22.16% 22.21% 23.38% 24.26% 27.20% 28.49% 27.57% 28.56% 28.58% 29.00% 29.25% 29.51% 29.69% 28.08% 26.57% 24.98% 25.35% 24.11%

Based on: 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31).

1 Q3 2024 Calculation
Net profit margin = 100 × (Net earnings (losses) attributable to AltriaQ3 2024 + Net earnings (losses) attributable to AltriaQ2 2024 + Net earnings (losses) attributable to AltriaQ1 2024 + Net earnings (losses) attributable to AltriaQ4 2023) ÷ (Net revenuesQ3 2024 + Net revenuesQ2 2024 + Net revenuesQ1 2024 + Net revenuesQ4 2023)
= 100 × (2,293 + 3,803 + 2,129 + 2,060) ÷ (6,259 + 6,209 + 5,576 + 5,975) = 42.82%

2 Click competitor name to see calculations.

Profitability ratio Description The company
Net profit margin An indicator of profitability, calculated as net income divided by revenue. Altria Group Inc. net profit margin ratio improved from Q1 2024 to Q2 2024 and from Q2 2024 to Q3 2024.

Return on Equity (ROE)

Altria Group Inc., ROE calculation (quarterly data)

Microsoft Excel
Sep 30, 2024 Jun 30, 2024 Mar 31, 2024 Dec 31, 2023 Sep 30, 2023 Jun 30, 2023 Mar 31, 2023 Dec 31, 2022 Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019
Selected Financial Data (US$ in millions)
Net earnings (losses) attributable to Altria 2,293 3,803 2,129 2,060 2,166 2,117 1,787 2,690 224 891 1,959 1,624 (2,722) 2,149 1,424 1,924 (952) 1,943 1,552 (1,809) (2,600) 1,996 1,120
Stockholders’ equity (deficit) attributable to Altria (3,468) (3,016) (5,114) (3,540) (3,407) (3,827) (3,876) (3,973) (4,232) (2,403) (1,760) (1,606) (1,267) 3,257 2,913 2,839 3,139 5,688 6,543 6,222 10,545 14,464 14,079
Profitability Ratio
ROE1 139.55% 148.95% 157.34% 23.38% -16.07% -13.16% -20.78%
Benchmarks
ROE, Competitors2
Coca-Cola Co. 39.25% 41.19% 40.80% 41.30% 40.92% 40.40% 39.13% 39.59% 43.52% 41.60% 41.49% 42.48% 39.74% 36.31% 35.46% 40.14% 44.78% 52.56% 55.17% 46.99%
PepsiCo Inc. 48.10% 48.95% 48.22% 49.04% 44.08% 44.67% 38.62% 51.96% 51.19% 49.78% 55.85% 47.48% 51.29% 53.65% 53.75% 52.92% 52.22% 54.84% 53.76% 49.47%
Philip Morris International Inc.

Based on: 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31).

1 Q3 2024 Calculation
ROE = 100 × (Net earnings (losses) attributable to AltriaQ3 2024 + Net earnings (losses) attributable to AltriaQ2 2024 + Net earnings (losses) attributable to AltriaQ1 2024 + Net earnings (losses) attributable to AltriaQ4 2023) ÷ Stockholders’ equity (deficit) attributable to Altria
= 100 × (2,293 + 3,803 + 2,129 + 2,060) ÷ -3,468 =

2 Click competitor name to see calculations.


Return on Assets (ROA)

Altria Group Inc., ROA calculation (quarterly data)

Microsoft Excel
Sep 30, 2024 Jun 30, 2024 Mar 31, 2024 Dec 31, 2023 Sep 30, 2023 Jun 30, 2023 Mar 31, 2023 Dec 31, 2022 Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019
Selected Financial Data (US$ in millions)
Net earnings (losses) attributable to Altria 2,293 3,803 2,129 2,060 2,166 2,117 1,787 2,690 224 891 1,959 1,624 (2,722) 2,149 1,424 1,924 (952) 1,943 1,552 (1,809) (2,600) 1,996 1,120
Total assets 34,167 34,387 36,475 38,570 36,469 37,151 36,826 36,954 33,953 36,746 40,235 39,523 39,564 44,388 48,776 47,414 46,651 50,200 52,618 49,271 52,913 57,501 59,233
Profitability Ratio
ROA1 30.10% 29.54% 23.23% 21.08% 24.02% 18.35% 15.18% 15.60% 13.84% 4.77% 7.48% 6.26% 7.01% 10.24% 8.90% 9.42% 1.57% -1.82% -1.64% -2.62%
Benchmarks
ROA, Competitors2
Coca-Cola Co. 9.80% 10.52% 10.85% 10.97% 11.04% 10.67% 10.13% 10.29% 10.73% 10.27% 10.96% 10.36% 9.73% 8.96% 8.02% 8.87% 8.57% 9.70% 10.65% 10.33%
PepsiCo Inc. 9.31% 9.56% 9.18% 9.03% 8.29% 8.24% 7.07% 9.67% 10.28% 9.92% 10.93% 8.25% 8.73% 8.88% 8.22% 7.66% 7.65% 7.65% 8.51% 9.31%
Philip Morris International Inc. 14.70% 13.38% 12.20% 11.96% 12.74% 13.01% 14.04% 14.67% 21.48% 22.18% 21.62% 22.06% 21.62% 21.81% 21.73% 17.98% 19.67% 18.60% 20.42% 16.76%

Based on: 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31).

1 Q3 2024 Calculation
ROA = 100 × (Net earnings (losses) attributable to AltriaQ3 2024 + Net earnings (losses) attributable to AltriaQ2 2024 + Net earnings (losses) attributable to AltriaQ1 2024 + Net earnings (losses) attributable to AltriaQ4 2023) ÷ Total assets
= 100 × (2,293 + 3,803 + 2,129 + 2,060) ÷ 34,167 = 30.10%

2 Click competitor name to see calculations.

Profitability ratio Description The company
ROA A profitability ratio calculated as net income divided by total assets. Altria Group Inc. ROA improved from Q1 2024 to Q2 2024 and from Q2 2024 to Q3 2024.