Tobacco

4 companies · $63.9B combined revenue · $24.8B operating profit

The typical US-listed tobacco company grew revenue 3.2% and earnings 63.9% in its latest year, at a 37.8% operating margin, and 2 of 4 earn a return on capital above 15%. Figures from each company's latest annual filing with the SEC, refreshed daily.

3.2%Median revenue growth
63.9%Median earnings growth
-2.5%Median revenue growth, 3 yrs
5.4%Median earnings growth, 3 yrs
37.8%Median operating margin
22.3%Median ROCE

Growth engines: the 4 Cylinders

All four working: 0% of companies

A company's earnings per share can grow in only four ways: more sales, profits growing faster than sales (operating leverage), wider margins, and less debt. Each bar is the share of companies where that engine worked in their latest year.

  • Sales growth · Revenue up 10% or more25%
  • Operating leverage · Operating income growing faster than a growing revenue33%
  • Margin expansion · Operating margin up 1 point or more75%
  • Debt reduction · Debt down 5% or more, or net cash33%

Combined revenue · 2 companies reporting in US dollars

Revenue
$0$20B$40B$60B$80BFY21FY22FY23FY24FY25

Combined operating margin

Operating margin
0%20%40%60%FY21FY22FY23FY24FY25

All 4 companies

Median–3.2%63.9%37.8%22.3%0.76x
PMPhilip Morris International$40.6B7.3%▲60.8%▼36.6%▼34%▲–
MOAltria$23.3B-3.1%▼-38.3%▼42.5%▲38.3%▲–
BTIBritish American Tobacco p.l.c.GBP 25.6B-1%▼144%▲39%▲10.5%▼0.76x
RLXRLX TechnologyCNY 4.0B44%▲67.1%▲8.3%▼2.1%▼–

▲ better than the median, ▼ worse. n/a: the ratio doesn't apply to that kind of business (e.g. a bank's operating margin). Sort by any column. Figures from each company's latest 10-K (or 20-F/40-F).