gross profit bridgeinconsistent2025-12-31
Withheld: cost revenue, gross profit could not be reconciled with the rest of this filer’s statement.
Revenue
$23.28B
Fiscal year ended 2025-12-31Operating income
$9.90B
Fiscal year ended 2025-12-31Free cash flow
$9.07B
Fiscal year ended 2025-12-31ALTRIA GROUP, INC. (MO) reported revenue of $23.28B and net income of $6.95B for the fiscal year ended 2025-12-31. This page shows 10 annual periods of income statement, balance sheet and cash flow figures normalized from ALTRIA GROUP, INC.’s SEC filings, each linked to the filing it came from. It is classified by the SEC under Cigarettes.
Income
| Metric | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 | 2017-12-31 | 2016-12-31 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $23.28B | $24.02B | $24.48B | $25.10B | $26.01B | $26.15B | $25.11B | $25.36B | $25.58B | $25.74B |
| Cost of revenue | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Gross profit | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Operating income | $9.90B | $11.24B | $11.55B | $11.92B | $11.56B | $10.87B | $10.33B | $9.12B | $9.59B | $8.76B |
| Net income | $6.95B | $11.26B | $8.13B | $5.76B | $2.48B | $4.47B | -$1.29B | $6.96B | $10.22B | $14.24B |
| Research & development | $195.00M | $208.00M | $220.00M | $162.00M | $145.00M | $131.00M | $168.00M | $252.00M | $241.00M | $203.00M |
| Weighted-average diluted shares | shares 1.68B | shares 1.72B | shares 1.78B | shares 1.80B | shares 1.84B | shares 1.86B | shares 1.87B | shares 1.89B | shares 1.92B | shares 1.95B |
| Pretax income | $9.39B | $13.66B | $10.93B | $7.39B | $3.82B | $6.89B | $766.00M | $9.34B | $9.83B | $21.85B |
| Income tax expense | $2.44B | $2.39B | $2.80B | $1.62B | $1.35B | $2.44B | $2.06B | $2.37B | -$399.00M | $7.61B |
| Diluted EPS | $4.12 | $6.54 | $4.57 | $3.19 | $1.34 | $2.40 | $-0.70 | $3.68 | $5.31 | $7.28 |
| Selling, general & administrative | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| General & administrative | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Selling & marketing | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
Balance
| Metric | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 | 2017-12-31 | 2016-12-31 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & equivalents | $4.47B | $3.13B | $3.69B | $4.03B | $4.54B | $4.94B | $2.12B | $1.33B | $1.25B | $4.57B |
| Total assets | $35.02B | $35.18B | $38.57B | $36.95B | $39.52B | $47.41B | $49.27B | $55.46B | $43.20B | $45.93B |
| Current assets | $5.93B | $4.51B | $5.58B | $7.22B | $6.08B | $7.12B | $4.82B | $4.30B | $4.34B | $7.26B |
| Total liabilities | $38.47B | $37.36B | $42.06B | $40.88B | $41.13B | $44.45B | $42.91B | $40.63B | $27.78B | $33.12B |
| Current liabilities | $9.15B | $8.78B | $11.32B | $8.62B | $8.58B | $9.06B | $8.17B | $21.19B | $6.79B | $7.38B |
| Total equity incl. NCI | -$3.45B | -$2.19B | -$3.49B | -$3.92B | -$1.61B | $2.92B | $6.32B | $14.79B | $15.38B | $12.77B |
| Temporary (mezzanine) equity | Unavailable | Unavailable | Unavailable | Unavailable | $0 | $40.00M | $38.00M | $39.00M | $38.00M | $38.00M |
| Inventory | $1.07B | $1.08B | $1.22B | $1.18B | $1.19B | $1.97B | $2.29B | $2.33B | $2.22B | $2.05B |
| Accounts receivable | $263.00M | $177.00M | $71.00M | $48.00M | $47.00M | $137.00M | $152.00M | $142.00M | $142.00M | $151.00M |
| Goodwill | $5.79B | $6.94B | $6.79B | $5.18B | $5.18B | $5.18B | $5.18B | $5.20B | $5.31B | $5.28B |
| Long-term debt | $24.14B | $23.40B | $25.11B | $25.12B | $26.94B | $27.97B | $27.04B | $11.90B | $13.03B | $13.88B |
| Accounts payable | $750.00M | $700.00M | $582.00M | $552.00M | $449.00M | $380.00M | $325.00M | $399.00M | $374.00M | $425.00M |
Cash flow
| Metric | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 | 2017-12-31 | 2016-12-31 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $9.29B | $8.75B | $9.29B | $8.26B | $8.40B | $8.38B | $7.84B | $8.39B | $4.90B | $3.83B |
| Capital expenditures | $216.00M | $142.00M | $196.00M | $205.00M | $169.00M | $231.00M | $246.00M | $238.00M | $199.00M | $189.00M |
| Investing cash flow | -$341.00M | $2.18B | -$1.28B | $782.00M | $1.21B | -$143.00M | -$2.40B | -$12.99B | -$467.00M | $3.71B |
| Financing cash flow | -$7.62B | -$11.49B | -$8.37B | -$9.54B | -$10.03B | -$5.40B | -$4.71B | $4.72B | -$7.77B | -$5.33B |
| Net change in cash | $1.33B | -$563.00M | -$370.00M | -$503.00M | -$412.00M | $2.85B | $727.00M | $119.00M | -$3.34B | $2.20B |
| Stock-based compensation | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Common dividends paid | $6.96B | $6.84B | $6.78B | $6.60B | $6.45B | $6.29B | $6.07B | $5.42B | $4.81B | $4.51B |
| Common share repurchases | $1.00B | $3.40B | $1.00B | $1.82B | $1.68B | $0 | $845.00M | $1.67B | $2.92B | $1.03B |
| Depreciation & amortization | $266.00M | $286.00M | $272.00M | $226.00M | $244.00M | $257.00M | $226.00M | $227.00M | $209.00M | $204.00M |
Derived
| Metric | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 | 2017-12-31 | 2016-12-31 |
|---|---|---|---|---|---|---|---|---|---|---|
| Free cash flow | $9.07B | $8.61B | $9.09B | $8.05B | $8.24B | $8.15B | $7.59B | $8.15B | $4.70B | $3.64B |
| Gross margin | 62.5% | 59.8% | 58.3% | 56.8% | 53.8% | 49.8% | 50.6% | 48.3% | 46.8% | 45.0% |
| Operating margin | 42.5% | 46.8% | 47.2% | 47.5% | 44.4% | 41.6% | 41.1% | 35.9% | 37.5% | 34.0% |
| FCF margin | 39.0% | 35.9% | 37.1% | 32.1% | 31.7% | 31.2% | 30.2% | 32.1% | 18.4% | 14.1% |
| SBC / revenue | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Current ratio | 0.65x | 0.51x | 0.49x | 0.84x | 0.71x | 0.79x | 0.59x | 0.20x | 0.64x | 0.98x |
| Revenue YoY growth | -3.1% | -1.9% | -2.4% | -3.5% | -0.5% | 4.2% | -1.0% | -0.8% | -0.7% | Unavailable |
| Net margin | 29.8% | 46.9% | 33.2% | 23.0% | 9.5% | 17.1% | -5.1% | 27.5% | 40.0% | 55.3% |
| R&D / revenue | 0.8% | 0.9% | 0.9% | 0.6% | 0.6% | 0.5% | 0.7% | 1.0% | 0.9% | 0.8% |
| CapEx / revenue | 0.9% | 0.6% | 0.8% | 0.8% | 0.6% | 0.9% | 1.0% | 0.9% | 0.8% | 0.7% |
| Long-term debt / equity | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Effective tax rate | 26.0% | 17.5% | 25.6% | 22.0% | 35.3% | 35.4% | 269.5% | 25.4% | -4.1% | 34.8% |
Amounts are abbreviated; the exact reported value is carried in each cell. — means unavailable, not zero. Open MO in the interactive workspace to inspect any figure back to its filing.
Source filings
10-Q · Filed 2026-07-30View SEC filing
10-Q · Filed 2026-04-30View SEC filing
10-K · Filed 2026-02-25View SEC filing
10-Q · Filed 2025-10-30View SEC filing
10-Q · Filed 2025-07-30View SEC filing
10-Q · Filed 2025-04-29View SEC filing
Reconciliation checks needing review
10 periods on this page do not reconcile under this site’s normalization. Read that as a limitation here before an observation about the company: the figures are the filer’s own, the filings linked above are authoritative, and a difference usually means the concepts this site selected do not match how this filer presents its statements. Nothing is adjusted to make a check pass.
gross profit bridgeinconsistent2024-12-31
Withheld: cost revenue, gross profit could not be reconciled with the rest of this filer’s statement.
gross profit bridgeinconsistent2023-12-31
Withheld: cost revenue, gross profit could not be reconciled with the rest of this filer’s statement.
gross profit bridgeinconsistent2022-12-31
Withheld: cost revenue, gross profit could not be reconciled with the rest of this filer’s statement.
gross profit bridgeinconsistent2021-12-31
Withheld: cost revenue, gross profit could not be reconciled with the rest of this filer’s statement.
gross profit bridgeinconsistent2020-12-31
Withheld: cost revenue, gross profit could not be reconciled with the rest of this filer’s statement.
gross profit bridgeinconsistent2019-12-31
Withheld: cost revenue, gross profit could not be reconciled with the rest of this filer’s statement.
gross profit bridgeinconsistent2018-12-31
Withheld: cost revenue, gross profit could not be reconciled with the rest of this filer’s statement.
gross profit bridgeinconsistent2017-12-31
Withheld: cost revenue, gross profit could not be reconciled with the rest of this filer’s statement.
gross profit bridgeinconsistent2016-12-31
Withheld: cost revenue, gross profit could not be reconciled with the rest of this filer’s statement.