Our ambition and approach
Our ambition is to become substantially smoke-free by 2030, with our smoke-free business generating over two-thirds of total global net revenues.
As of October 21, 2026 smoke-free products represented > 40% of our total global net revenues.
Smoke-free products are not risk-free and contain nicotine, which is addictive.
Our progress toward a smoke-free future as of Q3 2026
-
40 percent
of PMI’s total net revenues came from our smoke-free business.*
-
>43 million
estimated legal-age consumers of PMI’s smoke-free products.**
-
110 markets
where our smoke-free products are available, providing better alternatives for legal-age smokers.*
-
>16 USD billion
invested in smoke-free products since 2008.**
*As of Q3 2026. **As of December 31, 2025. Important note: This information should be read in conjunction with the Philip Morris International Inc. earnings release dated October 21, 2026, 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 page. “PMI,” “we,” “our,” and “us” refers to the entire Philip Morris International family of companies.
Highlights of PMI’s Q3 2026 results
The Group Chief Financial Officer for Philip Morris International discusses the highlights of the Q3 2026 earnings report.
Massimo Andolina shares his highlights from our Q3 2026 Results
Massimo Andolina, Group Chief Financial Officer for Philip Morris International, speaks to camera:
We delivered an excellent third quarter. Our smoke-free business continued to perform strongly, demonstrating the power of our multicategory strategy.
IQOS remains the driving force.
We are excited by ZYN's initial momentum in the U.S. as we expand our portfolio, and VEEV delivered another outstanding quarter.
Alongside a standout performance from our combustible business, we achieved strong volume, net revenue, and profit growth, while generating robust cash flow.
This allows us to keep investing in smoke-free growth and focus on creating long-term value.
Financial disclaimer appears on screen.
Music ends.
Explore our smoke-free progress
Learn about our ambition, approach and progress
Shaping the future
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Our 2030 ambition
Explore our 2030 ambition -
Delivering a smoke-free future
See how we’re delivering change -
The progress we’ve made
Explore our history
The people behind our progress
Explore the voices, conversations, and insights behind PMI’s smoke-free progress.
