Philip Morris International Inc., current enterprise value calculation

Current share price (P)	$151.57
No. shares of common stock outstanding	1,554,857,221
US$ in millions
Common equity (market value)¹	235,670)
Add: Noncontrolling interests (per books)	1,880)
Total equity	237,550)
Add: Short-term borrowings (per books)	137)
Add: Current portion of long-term debt (per books)	3,392)
Add: Long-term debt, excluding current portion (per books)	42,166)
Total equity and debt	283,245)
Less: Cash and cash equivalents	4,216)
Enterprise value (EV)	279,029)

¹ Common equity (market value) = Share price × No. shares of common stock outstanding
= 151.57 × 1,554,857,221

Philip Morris International Inc., EV calculation

	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Share price^1, 2	$145.32	$89.01	$102.36	$107.96	$85.63
No. shares of common stock outstanding¹	1,554,857,221	1,552,456,597	1,550,232,895	1,549,827,817	1,557,451,856
US$ in millions
Common equity (market value)³	225,952)	138,184)	158,682)	167,319)	133,365)
Add: Noncontrolling interests (book value)	1,880)	1,779)	2,646)	1,898)	1,936)
Total equity	227,832)	139,963)	161,328)	169,217)	135,301)
Add: Short-term borrowings (book value)	137)	1,968)	5,637)	225)	244)
Add: Current portion of long-term debt (book value)	3,392)	4,698)	2,611)	2,798)	3,124)
Add: Long-term debt, excluding current portion (book value)	42,166)	41,243)	34,875)	24,783)	28,168)
Total equity and debt	273,527)	187,872)	204,451)	197,023)	166,837)
Less: Cash and cash equivalents	4,216)	3,060)	3,207)	4,496)	7,280)
Enterprise value (EV)	269,311)	184,812)	201,244)	192,527)	159,557)

¹ Data adjusted for splits and stock dividends.

² Closing price as at the filing date of Philip Morris International Inc. Annual Report.

³ 2024 Calculation
Common equity (market value) = Share price × No. shares of common stock outstanding
= 145.32 × 1,554,857,221

Download chart

Item	Description	The company
EV	Enterprise value is total company value (the market value of common equity, debt, and preferred equity) minus the value of cash and short-term investments.	Philip Morris International Inc. EV decreased from 2022 to 2023 but then increased from 2023 to 2024 exceeding 2022 level.

Philip Morris International Inc. (NYSE:PM)

Enterprise Value (EV)