Altria Group, Inc. (MO)

Altria Group, Inc., through its subsidiaries, manufactures and sells smokeable and oral tobacco products in the United States. It offers cigarettes primarily under the Marlboro brand; large cigars and pipe tobacco under the Black & Mild brand; moist smokeless tobacco and oral tobacco products under the Copenhagen, Skoal, Red Seal, and Husky brands; oral nicotine pouches under the on! brand; and e-vapor products under the NJOY ACE brand. The company sells its products to distributors, as well as large retail organizations, such as chain stores. Altria Group, Inc. was founded in 1822 and is headquartered in Richmond, Virginia.

Symbol: MO
Exchange: NYSE
Sector: Consumer Defensive
Industry: Tobacco
Market cap: $112.47B
52 week range: 54.7 - 77.06

Valuation

Share price: $67.35 (close of 2026-10-02)
P/E (TTM): 14.18x
Price to book: -42.96x
Price to free cash flow: 12.34x
Enterprise value: $134.68B
Book value per share: $-1.57

Price performance

Period	Change
1 day	+0.60%
5 days	-2.14%
1 month	-3.18%
3 months	-7.37%
6 months	+2.42%
Year to date	+16.81%
1 year	+2.43%
3 years	+61.98%
5 years	+46.86%
10 years	+6.52%
All time	+17623.68%

Members of Congress who disclosed MO trades

Alan Armstrong · Sheri Biggs

Super investors holding MO

Ken Griffin (Citadel) · Ray Dalio (Bridgewater Associates) · Thomas Russo (Gardner Russo & Quinn LLC) · Lee Ainslie (Maverick Capital LTD) · Dodge & Cox (Dodge & Cox Funds) · Mairs & Power (Mairs & Power Inc) · Yacktman Asset Mgmt (Yacktman Asset Management LP)

Profitability and growth

Return on equity: -201.25%
Return on invested capital: 41.93%
Return on assets: 19.84%
Return on capital employed: 38.27%
Gross margin: 62.47%
Net margin: 29.84%
EBITDA margin: 43.67%
Revenue growth: -3.08%
Net income growth: -38.33%
Free cash flow growth: 5.38%

Cash flow and balance sheet

Free cash flow yield (TTM): 8.10%
Current ratio: 0.52x
Net debt to EBITDA: 1.88x

Latest reported year

Period end: 2025-12-31
Fiscal year: 2025
Revenue: $23.28B
Cost of revenue: $5.60B
Gross profit: $14.54B
EBITDA: $10.16B
Net income: $6.95B
Earnings per share: $4.12
Research and development: $195.00M
Shares outstanding: 1.68B

Income statement by year

Period end	Revenue	Gross profit	Net income	EPS
2025-12-31	$23.28B	$14.54B	$6.95B	$4.12
2024-12-31	$24.02B	$14.37B	$11.26B	$6.54
2023-12-31	$24.48B	$14.28B	$8.13B	$4.57
2022-12-31	$25.10B	$14.25B	$5.76B	$3.19
2021-12-31	$26.01B	$13.99B	$2.48B	$1.34
2020-12-31	$26.15B	$13.02B	$4.47B	$2.40
2019-12-31	$25.11B	$12.71B	-$1.29B	$-0.70
2018-12-31	$25.36B	$12.25B	$6.96B	$3.69
2017-12-31	$25.58B	$11.96B	$10.22B	$5.31
2016-12-31	$25.74B	$11.57B	$14.24B	$7.28

Margins and returns by year

Period end	Gross margin	Net margin	Return on equity	Return on capital
2025-12-31	62.47%	29.84%	-201.25%	41.93%
2024-12-31	59.82%	46.90%	-514.81%	45.11%
2023-12-31	58.34%	33.21%	-232.95%	45.91%
2022-12-31	56.77%	22.97%	-146.93%	54.97%
2021-12-31	53.79%	9.51%	-154.11%	46.64%
2020-12-31	49.80%	17.08%	152.72%	30.73%
2019-12-31	50.62%	-5.15%	-20.46%	25.62%
2018-12-31	48.31%	27.45%	47.08%	25.44%
2017-12-31	46.77%	39.97%	66.46%	34.24%
2016-12-31	44.95%	55.31%	111.48%	19.83%

Cash and debt by year

Period end	Cash	Debt
2025-12-31	$4.47B	$24.14B
2024-12-31	$3.13B	$23.40B
2023-12-31	$3.69B	$25.11B
2022-12-31	$4.03B	$25.12B
2021-12-31	$4.54B	$26.94B
2020-12-31	$4.95B	$27.97B
2019-12-31	$2.12B	$27.04B
2018-12-31	$1.33B	$11.90B
2017-12-31	$1.25B	$13.03B
2016-12-31	$4.57B	$13.88B

Free cash flow by year

Period end	Free cash flow
2025-12-31	$9.07B
2024-12-31	$8.61B
2023-12-31	$9.09B
2022-12-31	$8.05B
2021-12-31	$8.24B
2020-12-31	$8.15B
2019-12-31	$7.59B
2018-12-31	$8.15B
2017-12-31	$4.70B
2016-12-31	$3.64B

Dividend history

Most recent payment: 2026-09-15
Paid in the last twelve months: $4.29

Payment date	Dividend per share
2026-09-15	$1.11
2026-06-15	$1.06
2026-03-25	$1.06
2025-12-26	$1.06
2025-09-15	$1.06
2025-06-16	$1.02
2025-03-25	$1.02
2024-12-26	$1.02

Investor relations

Next earnings report

Next confirmed report: 2026-10-29
Consensus EPS estimate: $1.50

Past earnings dates

Reported	Fiscal period	EPS estimate
2026-07-30	Jun/2026	$1.50
2026-04-30	Mar/2026	$1.24
2026-01-29	Dec/2025	$1.31
2025-10-30	Sep/2025	$1.44
2025-07-30	Jun/2025	$1.37
2025-04-29	Mar/2025	$1.17
2025-01-30	Dec/2024	$1.27
2024-10-31	Sep/2024	$1.36

Filings and sources

Company website: altria.com
SEC filings: 10-K, 10-Q and 8-K on EDGAR
Earnings calendar: All upcoming reports

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