A future without cigarettes is possible and we’re doing our part to get there as soon as possible.

Led by science and innovation, Philip Morris International has disrupted its business and industry with the goal of completely ending the sale of cigarettes.

We are delivering smoke-free products that are a better choice for adults than continued smoking. Our smoke-free products are now available in 100 markets, as of October 2025. Our ambition is to become substantially smoke-free by 2030, with our smoke-free business generating over two-thirds of total global net revenues.

Our progress toward a smoke-free future as of 2025 Q3

  • Icon for graph going upwards

    41 percent

    of PMI’s total global net revenues came from our smoke-free business¹.

  • Icon representating people

    >41 million

    estimated legal-age consumers of PMI’s smoke-free products².

  • Outline of the world

    100 markets

    where our smoke-free products are available, providing better alternatives for legal-age smokers³.

  • Dollar symbol

    USD >14 billion

    invested to develop, scientifically substantiate, and commercialize smoke-free products since 2008⁴.

1 As of September 30, 2025. 2 As of June 30, 2025. 3 As of October 2025. 4 As of December 31, 2024. Important Note: This information should be read in conjunction with the Philip Morris International Inc. earnings release dated October 21, 2025, as well as the accompanying glossary of key terms, definitions, explanatory notes, select financial information and reconciliations of non-GAAP financial measures, both of which are available on our Investor Relations pages. “PMI,” “We,” “Our,” and “Us” refers to the entire Philip Morris International family of companies.



 *Smoke-free business net revenues as of Q3 2014. ** Smoke-free business net revenues as of Q3 2025. Important note: This information should be read in conjunction with the Philip Morris International Inc. earnings release dated October 21, 2025, as well as the accompanying glossary of key terms, definitions, explanatory notes, select financial information and reconciliations of non-GAAP financial measures, both of which are available on our Investor Relations pages. “PMI,” “We,” “Our,” & “Us” refers to the entire Philip Morris International family of companies.

Emmanuel Babeau’s highlights from our Q3 2025 results

Emmanuel Babeau, Chief Financial Officer for Philip Morris International, speaks to camera:

Our third quarter results are out.

Following an excellent first half

we delivered a very strong performance in Q3.

Our results reflect the strength and momentum

of our increasingly profitable, global smoke-free business

combined with the resilience of combustible.

We are especially pleased with the performance

of our global smoke-free business, with outstanding volume growth

for all three of our flagship brands IQOS, ZYN and VEEV,

which together outgrew the global smoke-free industry

by a clear margin on the year to date in market sales.

Our smoke-free products are now available in 100 markets.

This is a symbolic milestone toward our vision of becoming

substantially smoke-free by 2030.

Every new market where we launch smoke-free products

enables more adult smokers to make a better choice.

Continued double-digit smoke-free top line momentum and further scale and cost

benefits enable us to achieve more than $3 billion in quarterly smoke-free gross profit

for the first time

and an adjusted group operating income margin of over 43%.

The highest in almost four years.

This drove +17% growth in adjusted diluted earnings per share

to a record $2.24.

These impressive results were also delivered in a quarter

with elevated commercial spending

as we invest in the future growth of our brands.

Our Q3 performance reflects our position

as a global category leader,

with the ability to drive strong growth and prioritise resources

to invest significantly in our leading brands.

The increasing overall profitability of our smoke-free business,

coupled with cost efficiency measures and combustible resilience,

places us well on track for another year of strong performance.

Finally, and importantly, our strong year to date performance

put us on track to exceed our 2024-2026 growth targets,

which already represent a best in class growth profile

within consumer packaged goods.

With such a strong progress already delivered,

we look forward with confidence to 2026 and beyond.