Philip Morris International Inc. stock research
FY2025 Q2
Philip Morris International (PM) Gross Margin — Quarter Ended Jun 30, 2025
Revenue increased compared to both the prior quarter and the same quarter last year. Gross profit rose more than proportionally, leading to an improved gross margin, while cost of revenue was stable year-over-year but higher sequentially.
Gross margin takeaway
Quarter ended Jun 30, 2025 · FY2025 Q2
Revenue increased compared to both the prior quarter and the same quarter last year. Gross profit rose more than proportionally, leading to an improved gross margin, while cost of revenue was stable year-over-year but higher sequentially.
- The filing context highlights the company's emphasis on protecting or enhancing margins, a factor consistent with the observed gross margin improvement.
- Compared to the prior quarter, gross margin was slightly higher. Compared to the same quarter last year, gross margin improved more notably.
Gross margin snapshot
The selected quarter's reported revenue, gross profit, direct costs, and margin comparisons.
Gross margin
67.7%
Gross profit
$6.9B
Revenue
$10.1B
Cost of revenue
$3.3B
Quarter-over-quarter change
+0.3 pts
Year-over-year change
+3.0 pts
Quarterly gross margin trend
A four-quarter view of the revenue and direct-cost bridge behind gross margin.
| Period | Revenue | Gross profit | Cost of revenue | Gross margin |
|---|---|---|---|---|
| Sep 30, 2024 | $9.9B | $6.5B | $3.4B | 66.0% |
| Dec 31, 2024 | $9.7B | $6.3B | $3.4B | 64.7% |
| Mar 31, 2025 | $9.3B | $6.3B | $3.0B | 67.4% |
| Jun 30, 2025 | $10.1B | $6.9B | $3.3B | 67.7% |
Quarterly comparisons
Compare the selected margin with the preceding quarter and the same fiscal quarter one year earlier.
Previous-quarter change
Mar 31, 2025
+0.3 pts
Year-over-year change
Jun 30, 2024
+3.0 pts
What the margin says
Filing-constrained interpretation of margin direction, comparisons, and what to monitor next.
The filing context highlights the company's emphasis on protecting or enhancing margins, a factor consistent with the observed gross margin improvement.
Compared to the prior quarter, gross margin was slightly higher. Compared to the same quarter last year, gross margin improved more notably.
Monitor adult consumer preferences and product quality standards, as they are critical to the company's success according to the filing.