Altria Group, Inc. (MO)

Consumer Staples · Tobacco · US stock · S&P 500 component

$76.07 ▲ +2.24 (3.03%)

At close 22 Oct 2026 · USD · Volume 7,155,993

Compare with PM

Interactive chart Research report Forecast ranges Pro workspace SEC filings Historical data

Fair valueFair

$78 +3.0% to fair value

$39fair band $67–$95$118

Day's range

$74.28 – $76.09

52-week range

$54.70 – $77.06

Red flags⚠ Negative equity⚠ Negative equity⚠ Negative equity⚠ Negative equity⚠ Negative equity

About Altria Group, Inc.

Altria Group is a tobacco company whose main business in the United States is the Marlboro cigarette brand through its subsidiary Philip Morris USA. It also sells smokeless tobacco, oral nicotine pouches and cigars, and holds an equity stake in the beer maker Anheuser-Busch InBev. Revenue comes from product sales to wholesalers and retailers. Its operations are shaped by heavy regulation, excise taxes and long-term declines in cigarette volumes.

The company reported revenue of $23.5 billion for the last twelve months, with three-year revenue movement of a decline of 2.5% a year. It reports an operating margin of 46.8%. Capital is used to generate a return on invested capital of 43%. Leverage, measured as net debt to EBITDA, is 2.0 times. The company pays a dividend with a yield of 5.6%. The site's X-Ray Score for the company is 61 out of 100.

Price chart

Interactive chart Historical data & CSV

52-wk range $54.70 – $77.06Volume 7,155,993Daily, split-adjusted

Vitals

Market cap$127.0B

52-week range$54.70 – $77.06

Volume (last day)7,155,993

P/E (TTM)16.0

EBIT / EV yield7.3%

Free-cash-flow yield7.2%

Dividend yield5.6%

Revenue (TTM)$23.5B

Net income (TTM)$8.0B

Operating margin46.8%

Return on capital43.1%

Debt incl. leases$24.6B

Cash & securities$2.4B

Debt = borrowings plus lease liabilities. Cash & securities = cash, equivalents and short-term marketable securities (long-term securities are not counted, so net cash can be understated for companies that hold large long-term investments). Net debt = debt minus cash & securities. Source: latest SEC 10-Q/10-K. EBIT / EV yield = operating profit divided by market cap plus net debt.

Fair value estimate

$78middle half of models $73 – $82

Fair +3.0% to fair value

Average of the 12 valuation models that pass our checks: multiples, discounted cash flow, dividend discount and earnings power value. A model more than 100% above or 60% below the price is left out as unrealistic. Model uncertainty is Medium, based on how far apart the models are. Undervalued or Overvalued means the gap to fair value is more than 17.5%.

Price $76

Undervalued < $67Fair $67 – $95Overvalued > $95

P/E multiple

$74

P/S multiple

$55

EV/EBITDA multiple

$80

EV/EBIT multiple

$73

EV/revenue multiple

$59

10-year DCF, EBITDA exit

$80

5-year DCF, EBITDA exit

$76

10-year DCF, revenue exit

$78

5-year DCF, revenue exit

$74

10-year DCF, growth exit

$89

5-year DCF, growth exit

$87

Dividend discount, stable · not used

$168

Dividend discount, multi-stage · not used

$216

Earnings power value

$116

Growth the price implies

3.1%/yr

A model estimate, not a price target or recommendation. Inputs: risk-free 5.13%, equity risk premium 4.30% (Damodaran). How it works.

What this means

Average business, fairly priced

The price sits inside our fair-value band. A high score does not guarantee a good outcome; it shifts the odds a little. Use the checklist as a prompt for your own research.

Before you invest · decision checklist

I understand how this company makes money Business quality is average or better ✓ 69 The price is not above fair value $78 fair value Debt looks manageable 2.0× EBITDA Revenue has been growing -2.5% a year Profits are backed by cash There are no red flags 5 raised I know what share of my savings this would be

Ticked boxes are filled in from our data; the rest are yours to answer.

The five-lens scan

Every score explained in one sentence, ranked against Consumer Staples peers. Open a lens to see the numbers behind it.

Strong: 70 to 100Fair: 50 to 69Weak: under 50No score: not enough data

Valuation Strong

74/100

Cheap against its sector on earnings and cash flow.

See the numbers →

EBIT / EV yield7.3%

Free-cash-flow yield7.2%

Fair value vs price1.0×

Growth Weak

29/100

Growing slower than most of its sector.

See the numbers →

Revenue growth (3y)-2.5%

EPS growth (3y)8.9%

Growth consistency20%

Profitability Strong

77/100

Earns high returns on the capital it uses.

See the numbers →

Return on invested capital43.1%

Operating margin46.8%

Gross profitability44.3%

Financial health Fair

61/100

Balance sheet is in typical shape for its sector.

See the numbers →

Piotroski F-Score6 / 9

Net debt / EBITDA2.0×

Interest coverNo interest cost

Dividends Weak

50/100

Dividend is modest or less certain than peers.

See the numbers →

Dividend yield5.6%

Dividends vs free cash flow79%

Dividend growth1.8%

Quarterly results: last 6 quarters

-5.7%

Mar '25

-1.7%

Jun '25

-3.0%

Sep '25

-2.1%

Dec '25

+3.2%

Mar '26

+0.1%

Jun '26

Revenue against the same quarter a year earlier. Latest quarter revenue $6.1B, diluted EPS $1.37.

Compare with peers

PM Philip Morris Internat...50

Other Tobacco companies by X-Ray Score.

SWOT analysis: Altria Group, Inc.

Strengthsinside the company

Return on invested capital is 43.1%, against a median of 15.1% for sector peers.
Operating margin of 46.8% is well above the 10.2% median of sector peers, a sign of pricing power or lower costs.
Free cash flow equals 7.2% of the market value, which funds dividends, buybacks or debt paydown.
Operating profit covers interest 50x, so debt costs are a small drag.

Weaknessesinside the company

Revenue has fallen 2.5% a year over three years while sector peers grew 2.5%.

Opportunitiesvaluation and setting

Trades at 15.9x earnings, 41% below the 27.0x median of sector peers.
Price momentum is strong on the weekly and monthly signals (trends can reverse).

Threatsvaluation and setting

Our checks raised: Negative equity; Negative equity.

Written by fixed rules from the figures on this page and the peer table below: filings, our fair value, the sector climate and the price trend. It summarises the data, it is not a forecast or advice.

Compare MO with peers and sector

Medians of 28 Consumer Staples peers and of 28 Consumer Staples stocks in our universe. Largest peers (X-Ray Score): WMT 51, COST 56, KO 43, PG 54, PM 50, PEP 60.

Metric	MO	Peers	Sector
X-Ray Score (out of 100)	61	50	50
Valuation	73	53	53
Growth	29	49	49
Profitability	77	51	51
Financial health	61	46	46
Dividends	50	50	50

Sector leaders: highest X-Ray Score in Consumer Staples

MO ranks #5 of 29 in Consumer Staples by X-Ray Score. A higher score is stronger on our five pillars; it is a ranking of facts, not a forecast.

Company	X-Ray Score
#1 MNST Monster Beverage Corp	77
#2 DLTR Dollar Tree, Inc.	71
#3 DG Dollar General Corp	66
#4 CASY Caseys General Stores Inc	62
#5 MO Altria Group, Inc. (this stock)	61

Metric	MO	Peers	Sector
P/E ratio	15.9x	27.0x	27.0x
PEG ratio	1.79	2.60	2.60
Price / book	–	4.5x	4.5x
Price / sales	5.4x	1.7x	1.7x
EV / EBITDA	13.3x	15.4x	15.4x
Price / free cash flow	13.9x	20.7x	20.7x
Dividend yield	5.6%	2.8%	2.8%
Gap to our fair value	+3.0%	+3.7%	+3.7%

Metric	MO	Peers	Sector
Price change, 1 month	+10.8%	+7.6%	+7.6%
Price change, 3 months	+7.1%	+5.5%	+5.5%
Price change, 6 months	+20.3%	+17.1%	+17.1%
Price change, 1 year	+26.1%	+13.0%	+13.0%

Metric	MO	Peers	Sector
Market value	$127.0B	$38.5B	$38.5B
Revenue (last 12 months)	$23.5B	$24.9B	$24.9B
EBITDA (last 12 months)	$11.2B	$3.2B	$3.2B
Net income (last 12 months)	$8.0B	$1.7B	$1.7B
Free cash flow (last 12 months)	$9.1B	$2.0B	$2.0B

Metric	MO	Peers	Sector
Revenue growth, last year	−3.1%	+2.3%	+2.3%
Revenue growth, 3 years a year	−2.5%	+2.5%	+2.5%
EPS growth, 3 years a year	+8.9%	+1.9%	+1.9%
Free cash flow growth, 3 years a year	+4.1%	+11.3%	+11.3%
Dividend growth	+1.8%	+4.1%	+4.1%

Metric	MO	Peers	Sector
Gross margin	63.0%	37.7%	37.7%
EBITDA margin	47.8%	11.9%	11.9%
Operating margin	46.8%	10.2%	10.2%
Net margin	34.0%	6.6%	6.6%
Return on invested capital	43.1%	15.1%	15.1%
Return on equity	–	18.6%	18.6%

Metric	MO	Peers	Sector
Net debt / EBITDA	2.0x	2.1x	2.1x
Interest cover	50.0x	11.3x	11.3x
Current ratio	0.5x	1.1x	1.1x
Piotroski F-score (0 to 9)	6	6	6

Green means better than the peer median, red worse (only where a higher or lower figure is clearly better). A dash means too few companies report the figure. P/E, EV/EBITDA and price changes are not graded: a different level is not good or bad by itself.

Factor ratings for MO

Each factor is rated by where MO stands among the 29 Consumer Staples stocks in our universe.

Rating against the sector

Goodthe top third of these stocks

Averagethe middle third of these stocks

Badthe bottom third of these stocks

"Beats" is the share of those stocks it is ahead of.

Against its own history

The last columns set today's figure against the company's own median of its last five financial years:

▲ Betterbetter than its usual level

▼ Worseworse than its usual level

≈ In linewithin its usual range

For valuation factors Good means cheaper than most of the sector and Better means cheaper than usual for this company, which is not the same as a bargain.

In total: 10 Good · 6 Average · 5 Bad of 21 Growth: 1 · 0 · 2 Profitability: 4 · 0 · 0 Financial strength: 1 · 2 · 1 Valuation: 2 · 1 · 1 Cash flow: 1 · 2 · 1 Efficiency: 1 · 1 · 0

Factor	MO	Rating	Sector median	Own 5-year median	Against own history
Growth
Revenue growth, 3 years a year	−2.5%	Bad beats 13%	+2.3%	–	–
Revenue growth, last year	−3.1%	Bad beats 13%	+2.2%	−2.4%	≈ In line
EPS growth, 3 years a year	+8.9%	Good beats 70%	+2.0%	–	–
Profitability
Gross margin	63.0%	Good beats 91%	38.7%	58.3%	≈ In line
Operating margin	46.8%	Good beats 98%	11.0%	46.8%	≈ In line
Net margin	34.0%	Good beats 98%	6.9%	29.8%	▲ Better
Return on invested capital	43.1%	Good beats 98%	15.2%	–	–
Financial strength
Net debt / EBITDA	2.0x	Average beats 54%	2.0x	1.9x	≈ In line
Interest cover	50.0x	Good beats 83%	11.8x	10.0x	▲ Better
Current ratio	0.52	Bad beats 5%	1.04	0.65	▼ Worse
Piotroski F-score	6 / 9	Average beats 52%	6 / 9	–	–
Valuation
P/E ratio	15.9x	Good beats 91%	25.0x	14.0x	▼ Worse
Price / sales	5.4x	Bad beats 9%	1.8x	3.4x	▼ Worse
EV / EBITDA	13.3x	Average beats 63%	15.2x	9.4x	▼ Worse
Free cash flow yield	7.2%	Good beats 90%	4.8%	9.6%	▼ Worse
Cash flow
Free cash flow margin	38.8%	Good beats 98%	9.3%	35.9%	≈ In line
Cash from operations / net income	1.18	Bad beats 19%	1.54	1.34	▼ Worse
Free cash flow growth, 3 years a year	+4.1%	Average beats 42%	+11.0%	–	–
Accruals (lower is better)	−4.3%	Average beats 52%	−4.2%	–	–
Efficiency
Inventory turnover	5.4x	Average beats 52%	5.3x	5.5x	≈ In line
Days sales outstanding	5 days	Good beats 98%	35 days	1 days	≈ In line

These ratings compare companies with each other and describe the past; they are not a forecast, a recommendation or part of the X-Ray Score. A factor is left out when its data is missing or meaningless (for example a P/E on negative earnings). A dash in the history columns means fewer than three usable years.

Fundamentals checklist

● 8 Good · ● 5 Average · ● 3 Bad

Cash quality

Earnings backed by cashAverage

Free-cash-flow yieldGood

Risk models

Altman Z''Good

Piotroski F-ScoreAverage

Growth

EPS growth (3y)Good

Free-cash-flow growth (3y)Average

Revenue growth (3y)Bad

Growth consistencyBad

Balance sheet

Current ratioBad

Net debt / EBITDAAverage

Interest coverGood

Valuation

Fair value vs priceAverage

EBIT / EV yieldGood

Profitability

Return on invested capitalGood

Operating marginGood

Gross profitabilityGood

Each check is graded against the company's sector, not a fixed number. Checklist score 63/100.

Financials

	FY21	FY22	FY23	FY24	FY25
Revenue	$26.0B	$25.1B	$24.5B	$24.0B	$23.3B
Operating income	$11.6B	$11.9B	$11.5B	$11.2B	$9.9B
Net income	$2.5B	$5.8B	$8.1B	$11.3B	$6.9B
Operating cash flow	$8.4B	$8.3B	$9.3B	$8.8B	$9.3B
Operating margin	44.4%	47.5%	47.2%	46.8%	42.5%
Free cash flow	$8.2B	$8.1B	$9.1B	$8.6B	$9.1B
Diluted EPS	$1.34	$3.19	$4.57	$6.54	$4.12

Fiscal years, from SEC filings.

Technical summary

Daily

Bullish

12 bullish · 0 neutral · 4 bearish

Weekly

Strongly bullish

11 bullish · 1 neutral · 0 bearish

Monthly

Strongly bullish

7 bullish · 0 neutral · 1 bearish

Moving averages (daily)

SMA 10	73.56	Bullish
EMA 10	73.53	Bullish
SMA 20	71.06	Bullish
EMA 20	71.97	Bullish
SMA 50	68.86	Bullish
EMA 50	70.11	Bullish
SMA 100	69.28	Bullish
EMA 100	68.89	Bullish
SMA 200	66.65	Bullish
EMA 200	66.40	Bullish

Oscillators (daily)

RSI (14)	72.31	Bearish
MACD (12, 26)	1.78	Bullish
Momentum (12)	10.97	Bullish
Stochastic %K (14)	99.81	Bearish
Williams %R (14)	-0.19	Bearish
CCI (20)	115.6	Bearish

Pivot points (classic, last session)

73.06

73.67

74.87

Pivot

75.48

76.68

77.29

78.49

Signals describe what the chart is doing, not what to do. Moving averages: price above the average is bullish. Oscillators use the usual thresholds (RSI 30/70, Stochastic 20/80, CCI ±100, Williams %R −80/−20; MACD and momentum above zero are bullish). Weekly and monthly views use closing prices only.

Dividends

Paid, last 12 months

4.29 USD

Yield on today's price

5.64%

Frequency

Quarterly

Next ex-dividend date

Not announced

Ex-dividend date	Amount per share
15 Sep 2026	1.1100
15 Jun 2026	1.0600
25 Mar 2026	1.0600
26 Dec 2025	1.0600
15 Sep 2025	1.0600
16 Jun 2025	1.0200
25 Mar 2025	1.0200
26 Dec 2024	1.0200
16 Sep 2024	1.0200
14 Jun 2024	0.9800
22 Mar 2024	0.9800
20 Dec 2023	0.9800

Ex-dividend dates and amounts from EODHD. Shown as declared, before tax.

ETFs that hold MO

ETF	Share of the fund
GQGU The Advisors’ Inner Circle Fund III	6.20%
FDL First Trust Morningstar Dividend Leade...	4.64%
XLP Consumer Staples Select Sector SPDR	4.53%
IYK iShares US Consumer Staples	4.01%
VDC Vanguard Consumer Staples	3.90%
FSTA Fidelity MSCI Consumer Staples Index	3.71%
SPHD Invesco S&P 500 High Dividend Low Vola...	3.43%
HDV iShares Core High Dividend	3.06%

The eight funds with the largest weight in MO among the ETFs we cover, from each fund's latest SEC Form N-PORT (quarter-end positions, so they can be months old). All ETFs.